Hot on the heels of their fake iPhone, RIM launches fake iFund

“Three of Canada’s biggest companies have joined forces to make the BlackBerry a greater business threat to the laptop computer, with Research In Motion Ltd., Thomson Reuters Corp. and Royal Bank of Canada teaming up to launch a $150-million (U.S.) fund that will back software development for the ubiquitous handheld device,” Andrew Willis reports for The Globe and Mail.

“The new BlackBerry Partners Fund, which is to be launched Monday, will put venture capital behind companies working on software that makes wireless devices more versatile and easier to use. While BlackBerry applications are the focus, the fund will also back software developers that target RIM’s competitors, such as Apple Inc. and its iPhone. The fund will be run from Toronto, but has a mandate to invest in firms anywhere in the world,” Willis reports.

Full article here.

Now all RIM needs are devices worth creating software for.

This is a smokescreen designed to fool investors. “Look, look, we have one, too!” screams RIM. It is extremely telling that RIM is forced to provide the money their own fund while the iFund for Apple’s iPhone (iPod touch and future multi-touch devices) is funded by KPCB.

RIM has proven decisively to be a bunch of followers; derivative losers about to be steamrolled. They simply do not have the hardware and they certainly don’t have the OS and software. They are years behind Apple. RIM’s appalling lack of innovation in this time of crisis should be a clarion call to investors. RIM’s fund is a fake pile of money that will never get widely used, just like their fake iPhone.

Listen, we understand that CrackBerry users love their devices. People loved their typewriters, too.

We simply do not see anywhere near the level of innovation from RIM required to compete effectively with Apple. If you have an iPhone, you understand. And, if you know even the basics of Apple’s upcoming SDK, RIM’s future dilemma is obvious.

You can judge the distance behind and overall cluelessness of iPhone’s future roadkill by the amount they copy the iPhone’s exterior… This ceaseless quest to dress up antiques in Apple veneer is pathetic and sad.SteveJack, MacDailyNews, March 29, 2008

RIM has already been dealt a world of hurt with Apple’s iPhone, and Apple wasn’t even really trying with the first go around (few countries, mostly exclusive carriers, ignoring the enterprise, no SDK, no Exchange support, etc.). Those days are soon to be over for RIM. RIM is already bleeding share to Apple’s iPhone; now they’re about to start hemorrhaging. Let the bloodbath begin.

We are quite confident in our assessment of RIM. We invite readers to iCal our Take and set an alarm for May 12, 2009, so we can revisit this in a year’s time.

43 Comments

  1. RIM has recently announced that the iPhone has helped sell more of their devices. So, I think we have to see what really happens because RIM is not going to sit still.

  2. Monday morning, first cup of coffee and already the word “bloodbath” is used.

    For the record, I (IT central of my company) setup my very first “crackberry” to work with our Exchange Server…………..seriously, that is considered a solution? Bloodbath indeed!

  3. Although MDNs take is rather harsh, Rim is like Micorsoft in some ways Their priority is enterprise, not users, and while that is fine, there are a lot more users than just enterprise.

    This could be the beginning of a change for them. It’s about time work became more enjoyable, and stopped dictating how we live our lives.

  4. I think it’s unfair to hammer RIM with the same ferocity as M$. They are an honest company who has done a good job in creating a new market with their Blackberry. Not unlike Apple.

    At least they are not convicted felons like MS$.

    I believe that eventually, the iPhone will force RIM to change or die.

  5. Whoa, MDN. Take an Elavil. Calm down. Get a grip. And maybe do a reality check. From my anecdotal experience, I don’t think RIM is going away anytime soon. I know perhaps a dozen Mac users who also use the Blackberry and none has yet switched to the iPhone. The Blackberry does exactly what they want to do — phone and email — and arguably does them better than the iPhone. There are many other things the iPhone does better but those things aren’t important to this group. They like the physical keyboard and the ease of reading and sending email. You can argue that the iPhone virtual keyboard is as good or better, but they don’t agree. They’re used to the physical keyboard. Why change? They also don’t like AT&T;(for lots of good reasons). I think all of this will change as iPhone 2.0 & the 3G phone rolls out, and has things like haptic virtual keyboards are eventually introduced, but I don’t think RIM will be steamrolled, to use your terminology. Palm, maybe, but not RIM.

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