Menlo Ventures Shawn Carolan says business models will have to be hybrid With all the excitement surrounding the launch of Apple's iPhone apps store, some are wondering whether venture capitalists will start pouring money into iPhone app startups. Not ones that give away their app for free and rely on advertising for their revenue, according to Menlo Ventures Shawn Carolan. Speaking on a panel at the MobileBeat conference last week, Carolan laid out a hypothetical scenario for an app maker to argue that ads alone won't be enough to sustain a business on the iPhone app platform.An app maker who gets on 1 million iPhones and gets 100 page views per month on each phone and gets $1 CPM will only generate $100,000 in monthly revenue.That's not an interesting business for VC ... [ Read more ]