João-Pierre S. Ruth of Xconomy wrote a great summary of the December NYETM. Click through to read his full story: ”Fred Wilson Calls Out Enterprise Tech Incumbents, Sees Room for NY Startups”
Here’s an excerpt below:
When Fred Wilson, managing partner with Union Square Ventures, prefaces a statement as potentially controversial, most people in the room tend to lean forward for a listen. Last night’s New York Enterprise Technology Meetup was no exception.
While discussing big vendors in enterprise software, Wilson talked up the need for new ideas from startups. But disruption in the space is not without challenges, he added.
“If I could short the entire big, fat, old, cynical, rip-off artist enterprise software business, I would,” he said. “They’re not innovating. There’s nothing that those big companies do that’s really any good. The caveat is it takes forever to rip out those systems.” The half-life of enterprise software, he said, is often longer than desired, making it difficult for new, replacement technology to gain a foothold.
Wilson said he came to the event to encourage the growth of the enterprise software community in New York. He told the entrepreneurs packed into the offices of Cooley they were welcome to pitch Union Square Ventures—with a few stipulations. For instance, companies establishing data networks need to do more than manipulate easily accessed information. “If your software is just pulling data from your internal systems or publicly available data sets, that’s not a data network,” he said.