The most popular blog on the Internet
Back in 2000 I started what would later be called a blog (the term hadn't been fully adopted by the general population yet) dedicated to gadgets and technology called Hippievan.com (Click here to view the website at archive.org). My website actually got quite a bit of traffic, so much so that I was interviewed by the Wall Street Journal as a result of it.
After operating the website for about two years I decided to shut it down, as it was consuming quite a bit of free time and wasn't making me any money. I (stupidly) let the domain names expire, and forgot about the idea of a daily updated news source dedicated to new gadgets and technology.
Today, a report was released that says Gizmodo.com is the world's most popular blog. According to a whois search, Gizmodo.com was created in July of 2002, two years after Hippievan.
So what can I learn from this experience?
1) Timing is just as important (if not more important) than the idea
2) Implementation is also more important than the idea (Hippievan didn't have actual pictures of the gadgets hosted on the front page - made it much less "sticky" than gizmodo)
3) There can be future value in sticking with unprofitable businesses
4) It is helpful to choose a brand which conveys something about your product
5) Not registering more domain names back in 1996 (or '99, or '01!) wasn't the only giant money making opportunity I have missed out on.