Simple and Sloppy
Adam points out the virtues of keeping web services simple and sloppy. He points out that almost every attempt to create something with a lot of elegance, function, and structure has failed, and the simple things like HTML, RSS, XML, Google, etc have worked wonderfully on the Internet.
This is something we feel strongly about in our investments. We'd much rather see entrepreneurs build something quickly, get it out there, and let the customers bang on it and evolve it. The entrepreneurs who insist on over engineering their solutions inevitably end up with nothing to show for it.