There are plenty of businesses that were “jump-started” into operation, without VCs or with minimal investment. A few examples of these businesses in Spain are Meneame and Panoramio now part of Google Earth, while in the U.S. there’s Digg. And of course, there are many more throughout the whole world. As the crisis hits us all this is one of the topics that I touched upon during my latest lectures with future entrepreneurs.

Right now startups are being made Open Source style: everyone puts in a little bit of their time. And this is partly feasible because Open Source itself exists nowadays: programming requires fewer resources than before, hosting is cheaper, hardware in itself is cheaper. Open source apps lowered the barriers to putting products on the Internet, and the Internet is now ten times bigger than it was at the time of the last crash. Indeed, here is a little tidbit of information for you: In 2007, YouTube alone consumed as much bandwith as the entire Internet in 2000.

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