Bug - Slowly Coming Out Of Stealth
Bug Labs is certainly our most "out there" investment. Some of our investors have a hard time getting their head around it. Brad, who led this investment for us, is always very careful to explain that this is really a software/services bet, not a hardware bet.
But Bug is launching with a hardware product, The Bug, and they are going to launch slowly and ideally without too much hype and expectations.
The company has been in stealth mode for the past year and, in anticipation of the launch this fall, is now slowly coming out of stealth.
They started last night with a small dinner in San Francisco that included some well known bloggers. Dave Winer was there and has blogged his thoughts. There's a lot more to Bug than what Dave captured (probably on his napkin) but the parts that Dave got, he got right. Thanks Dave for putting your thoughts out there. I hope the others will too.
The thing about Bug is that it's not anything like the iPhone. It's closer to Ning. It's all about what people will make with a Bug, not what a Bug is when it comes out of the box. And I like that.