re: Crescent is WaningAt this week's NGN conference, John McQuillan characterized startups that were going into hibernation to try to weather the storm as the "walking dead", and that they're only practicing self-delusion. He said that by far the better solution is for them to shut down rather than to just keep on going until the money completely runs out, but it's the nature of startup management to be optimistic. Their boards need to be much more realistic about their real prospects.
re: Crescent is WaningI checked their Careers page today...
"If you are highly motivated, talented, creative and enjoy working in a team environment, then Crescent Networks wants to hear from you.
If you are interested in working at a fast-moving, privately held company that is developing a world class, service-delivery solution for the hot telecommunications industry, then you want to hear from us."
Yeah right!!! "Hot" telecom industry...? Crescent wants to hear from you...?
re: Crescent is WaningIt isnot clear what blinds VCs. It is simply insane to fund a company in the area of edge routers. There are over 30 edge router vendors.
The entire telecom industry has almost vanished with no chance of recovery. When the stocks of two of the telecom giants, Lucent Technologies and Northern Telecom, is trading below a dollar -- there has to be concern on the part of the shareholders and Wall Street to launch a full fledged investigation of these two companies.
re: Crescent is WaningCorona, another misterious west-coast fiasco, has been gasping for breath for over 3 years now. Anyone knows whats going on there? Heard it might be breathing its last soon. Seems like a bay area counter-part of comps like Gotham, Sedona...
re: Crescent is WaningPerhaps Coriolis Networks has a shot of surviving the inclement weather. I think it is looking for a Series D round. We have to wait and see.
re: Crescent is Waning gigeguy wrote: "At this week's NGN conference, John McQuillan characterized startups that were going into hibernation to try to weather the storm as the "walking dead", and that they're only practicing self-delusion."
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The question is, is this hibernation? I have to say no, it isn't. It's more like the Alamo, and we all know how that ended.
The majority of the people who have remained onboard are managers and VPs. Of the reported 21 there are only something like 8 engineers left on staff, some of them looking at no longer than 3 weeks before they are let go as well.
RIP...