Aaron Zamost, currently head of communications at Square, writes about tech reporters use a regular clock schedule to cover the industry’s companies.
Zamost writes:
1:00 SVT:
Shiny new toy.
It’s around 1:00 that the first real article is written about your company. With the right connections, anyone can make it to 1:00. You’ve launched your product, raised money from a few prominent investors, and your app makes for a good headline. People don’t feel strongly about you, one way or the other, but now they have heard of you, and that matters.
Today, many 1:00 companies are the “Uber for” something, like house painting.
Reserve, the Uber for restaurants, currently sits at 1:00.
2:00 SVT:
Up-and-comer.
Rounding 2:00 is a real accomplishment — many startups never make it this far. At 2:00, you are seeing real traction. You haven’t quite reached escape velocity, but the momentum is exciting, which you can see on Twitter and in the increasing amount of tech coverage you’re getting. Smart takes in Buzzfeed, Re/Code, and The Verge are accompanied by vanity metrics. Bigger companies start to wonder (a) why their version of your thing isn’t as popular as your thing, and (b) whether and how fast they can copy your thing and make it their thing.
With its breakout at SXSW early this year, Meerkat reached 2:00. Hence, Periscope.
Read more here.
