[fourlittlebees]

He was specifically calling out Dave Hornik for his bit about not investing in iPhone apps because it's too small a market. There's too much VC investment in junk they think will be the next big thing rather than things that might be smaller hits, but actual hits. It's the difference between a $1 scratch-off paying $5 vs. buying $30 of Powerball tix in hopes you hit the jackpot.

[mattmaroon]

What Hornik says seems 100% obvious. iPhone is still a tiny percentage of the market. That said, they're disproportionately likely to use the web and apps I would think.

But still, you have all of the negatives you do with Facebook Apps (capricious overlords in total control of your fate) but with something like 5% of the user base. And while iPhone users are clearly more engaged with that platform than, say, Win Mo users, they're nowhere close to Facebook users.

[fourlittlebees]

iPhone has the App Store, through iTunes, and is already demonstrating that people will pay money to install those apps on their phones. Facebook apps plan to make money how exactly?

[mattmaroon]

Some Facebook apps are making a killing. There are a number of ways to monetize other than low paying cpc ads.

[fourlittlebees]

The "killing" that they are making is by running ads for OTHER Facebook apps. Isn't that just passing the VC around?

[kaiserama]

Blackmail? Haha...wait...that's not a bad idea.