It was great to see that the iFund now has a blog. This will hopefully help everyone get insight into a VC perspective on a the iPhone market. The first post is a good one, painting a rosy picture of the transformative power of the iPhone, and on the initial success of the market.
But the first post does sidestep some of the real issues that are facing the App Store:
1) How open is open enough? Will a closed and opaque approval system succeed in the face of open competitors like Android?
2) What business models exist that will support the creation of deep applications rather than just novelties and games?
I'll definitely be staying tuned.
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