Recounting OMGPop

A few years ago there was a popular product known as OMGPop. A multiplayer platform I found to be entertaining and mildly addicting. No surprise it was acquired in 2012 for around $200 million, a modest profit for the founders and investors. However, after Zynga bought OMGPop in 2012, their stock plummeted, falling to-date approx. 80%. Zynga's Mark Pincus is viewed as one of the worst CEO's in 2012. Looking at Zynga's incredible growth and success prior to March 2012, how could this have happened? What went wrong?

However, I'm not here to rant about Zynga and OMGPop, rather explore the incident as a paradigm of the tech scene as a whole. After Zynga climaxed, investors lost an interest in online games, and the online-game bubble (omg)popped. The tech craze fueled massive growth, and once the sector became inundated with competitors, the market abruptly adjusted itself due to companies underperforming – revenues and profits failing to meet expectations. This pattern repeats itself – currently we're in the midst of a 3D printing flood, literally hundreds of models on the market, and we're about to experience smart-watch and virtual reality booms. We're going to see these patterns with every technology.

Everyone's been curious about whether there's a tech bubble or not. Come on, look at Snapchat's and Uber's multi-billion dollar valuations! However, the Tech Bubble® is a rumor – and even if does exist – we won't experience anything like 2000 any time soon, as long as there's new technology to fuel another "mini-bubble". Instead, we're going to see waves of growth and decay in different tech sectors. Whereas businessmen and entrepreneurs might ride these waves, as developers, it's our obligation to splash around the virtual ocean and spawn more waves.

That's why Mimoun and I are working on a legal startup – startups which only consist 0.1% of all startups on AngelList. A notoriously low-tech industry, after contacting lawyers and learning more about the field, we truly believe it's prone to disruption. Currently we're working on FirePact, and we want to innovate the way contracts are generated, analyzed and visualized.