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Tuesday, June 24, 2008 9:35:08 AM
I consider uWink a pure start-up company with a strong software component. I'm in the Internet/Network Security business and have worked with and/or acquired many start-up companies.
When you examine the inner workings of most small companies they all appear incredibly dysfunctional from the outside with many fits and starts. They usually struggle with not having the resources or money to execute (and are aware of this fact). I like to joke that in the software industry it would be easy to be successful with unlimited money, resources, and bug-free code. However, no company ever has what they need and must make many decisions about where to cut corners.
My guess is that most of the staff at uWink are working 70-80 hours per week and have a 100 ideas waiting for implementation. I'm not upset with the execution but do agree that the communications have been overly optimistic. Realize that in most cases a company this size would never be public. Being public adds a whole new level of complexity around communication of future intentions. If uWink were private they could change strategy/plans with no recrimination. Because they are public we get a view into the messy inner details, which in reality are par for the course. Add in a lightly traded penny stock with a low market cap and you can guarantee lots of fun.
It's a little easier for me because I expect issues (and there will be more execution problems to come). As long as the general long term trend is positive I'm OK.
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