DIGO Brands A Boom
We never owned one of these. While CEO Joseph Park was kind enough to offer us shares of Kozmo, now worthless, back then we said, “we’re still figuring out how to make our clients successful, and we don’t have time to figure out how to be successful investors at the same time.” So, we value invested the first internet boom. We decided that the value we’d get out of it would be opportunity, experience and learning. We didn’t trouble ourselves about “upsides” we might be missing. Living well is the best revenge, we thought, and we were living well.
Now that talk of a new digital boom (or bubble) is in the air, and the line at our door is once again lengthening, it’s interesting to note how we at DIGO played the first dot com boom and what we learned in the process. If the story of Kozmo.com tells us anything, it’s that boom time decisions can kill otherwise prescient and viable growth businesses. When people manage toward the changing whims of investors, fundamental business values can suffer, and sometimes the wounds are mortal. It’s hard-won wisdom that our clients — today often our partners and fellow shareholders — can rely on. No extra charge.