Getting punk rock on the "iPhone bubble"
Melissa Gira Grant · 08/28/08 04:00PMTo hear iPhone-app developers tell it, VCs are circling and the end of days is nigh. Some developers can push out at an app in four months for less than $5,000, so why play with other people's money at all? "Fuck the VCs" says indie developer John Casasanta, of Tap Tap Tap. "What we’re about to experience in the iPhone world is going to be a bubble along the lines of the one in the late '90s/early 2000s." Echoing that is Mike Lee, cofounder of iPhone app development team Tapulous, who raised $1.8M in angel funding this summer. This week, Lee, one of Tapulous's nine employees, was told to exit his own company. Lee left a depressingly cocky send-off to his team in his wake. It's hardly the rallying cry to go it alone that he meant it to be.