Bug Labs Mystery Deepens: "It's not anything like the iPhone. It's more like Ning"

That’s Union Square Ventures’ Fred Wilson, attempting to clarify some of the confusion that hit the web last night, after Bug Labs’ emerging-from-stealth dinner in San Francisco.  As we noted, Dave Winer came away with a sense of of the “gestalt” of the product–which was demonstrated using wood blocks–but few details.  Mashable was excited, but clueless

Happily, Fred reports that, “the parts Dave got, he got right.”  Fred also adds some more details, presented below.  We reiterate our conviction that, if Bug’s forthcoming product, The Bug, is to become a consumer hit (which is apparently part of the plan), the company first needs to do a better job of explaining what it does.

From Fred’s A VC:

Bug Labs is certainly our most “out there” investment. Some of our investors have a hard time getting their head around it. Brad, who led this investment for us, is always very careful to explain that this is really a software/services bet, not a hardware bet.

But Bug is launching with a hardware product, The Bug, and they are going to launch slowly and ideally without too much hype and expectations.

The company has been in stealth mode for the past year and, in anticipation of the launch this fall, is now slowly coming out of stealth.

They started last night with a small dinner in San Francisco that included some well known bloggers. Dave Winer was there and has blogged his thoughts. There’s a lot more to Bug than what Dave captured (probably on his napkin) but the parts that Dave got, he got right. Thanks Dave for putting your thoughts out there. I hope the others will too.

The thing about Bug is that it’s not anything like the iPhone. It’s closer to Ning. It’s all about what people will make with a Bug, not what a Bug is when it comes out of the box. And I like that.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.