As we are nearing the end of 2008, we need to start reflecting on our startup madness of 2008. Following are the list of ideas that were overrated and over-hyped for year  2008. Definition of over-hyped: over 100 companies working on the same idea.

Social Networking: The over-arching theme was to build a social network for almost anything. Do you know a verb? lets start a social networking about it!!
White-labeled and Hosted Social Networking solutions: You would’t believe the number of companies offering these services.
Video Delivery: Thanks to YouTube, everyone jumped …

PC World just reported about Satellite Broadband initiative by ViaSat.
I can’t imagine companies are still chasing fancy and dumb ideas in this economy. This clearly shows that why we are heading into recession, also why we deserve it.

What I don’t like about this business idea?

Scheduled for launch in 2011.
Speed is only  2Mbps, that too in 2011.

Why I consider this a dumb idea:

It takes lot of money to own and operate a satellite, plus they come with an expiry date. It is not like an undersea fiber optic line, which can …