Browse > Home / Archive by category 'Tech'

The Revolution Will Be Tweeted - Saturday May Bring Change to Iran

June 20, 2009

As we sleep tonight in America, there is history afoot. Never before has the social web been used to such an extent within a country to attempt to remove a leader and coordinate a political revolution. Tomorrow, Saturday, will be an important day in the history of Iran.

For the sake of this post and citizen journalistic integrity, I’ll try to be as objective as I can here as few of us outside of Iran can know enough to truly know what is accurate. This noted, the consensus of the digerati has been made known and it is clear. In the world of Twitter, Facebook, Flickr, and YouTube–the crowdsourced view is behind the ‘Green Uprising.’

A tipping point may be reached after today’s day of prayer and Ayatollah Khameni’s speech which may only inflame protesters. The momentum behind a movement has begun and it won’t easily taper.

As I browse Twitter tonight, I see tweets like the following:

I am seeing Facebook Statuses tonight like this one:

  • Shervin Pishevar - please pray for Iran and the brave Iranian people. In 5 hours we meet our destiny. I will not be able to sleep.

The informative Green Brief is coming out nightly from an Afghan man named NiteOwl, sourced entirely from Tweets from inside Iran. There are instructions on “Anonymous Iran” on how to surf in Iran using proxies so one can access the social web. There is a tremendous set of Flickr photos of the protests on the Fhashemi Flickr account. There are 180 posters from protesters shown at Design for Iran.

In two days, hundreds of thousands of Twitter members have turned their avatar green in support of the Iranian protesters using a tool at HelpIranElection.com.

Here are some videos seemingly showing violent oppression of the protests:

There are so many ethical issues here that we must tread carefully on. We must be careful in the West to so naturally and quickly support this uprising simply because we tend to lean toward the beliefs and views of the more moderate candidate Mousavi. Here is a good article supporting Ahmadinejad’s win. There are folks on the Ahmadinejad/Khameni side who are claiming that the support for the “American led coup in Iran” is causing unneccessary blodshed. Here is an example:

  • @JimJones45 - 99% of tweets are from US backing a BLOODY revolution. People are dying. STOP destabilizing the Iranian state! #IranElection

This noted, others on Twitter seem to suggest these twitter accounts, most of which have no history before yesterday, are agents of the Iranian government.

To me, this doesn’t seem to be a Western-led coup. The pictures and videos of the hundreds of thousands of people in the street lay doubt to this claim.

Here is an excerpt of an email posted on Iran Fax Blog the that seemingly comes from an Iranian citizen:

Tomorrow, people will gather again in Valiasr Square for another peaceful march toward the IRIB building which controls all the media and which spreads filthy lies. The day before Yesterday, Ahmadinejad had hold his victory ceremony. Government buses had transported all his supporters from nearby cities. There was full coverage of that ceremony where fruit juice and cake was plenty. A maximum of 100,000 had gathered to hear his speech. These included all the militia and the soldiers and all supporters he could gather by the use of free TV publicity. Today, at least 2 million came only relying on word of mouth while reformists have no newspaper, no radio, no TV. All their internet sites are filtered as well as social networks such as facebook. Text messaging and mobile communication was also cut off during the demonstration. Since yesterday, the Iranian TV was announcing that there is no license for any gathering and riot police will severely punish anybody who may demonstrates. Ahmadinejad called the opposition as a bunch of insignificant dirt who try to make the taste of victory bitter to the nation. He also called the western leaders as a bunch of “filthy homosexuals”. All these disgusting remarks was today answered by that largest demonstration ever. Older people compared the demonstration of today with the Ashura Demonstration of 1979 which marks the downfall of the Shah regime and even said that it outnumbered that event. The militia burnt a house themselves to find the excuse to commit violence. People neutralized their tactic to a large degree by their solidarity, their wisdom and their denial to enage in any violent act. I feel sad for the loss of those young girls and boys. It is said that they also killed 3 students last night in their attack at Tehran University residence halls. I heard that a number of professors of Sharif University and AmirKabir University (Tehran Polytechnic) have resigned. Democracy is a long way ahead. I may not be alive to see that day. With eyes full of tear in these early hours of Tuesday 16th June 2009, I glorify the courage and bravery of those martyrs and I hope that their blood will make every one of us more committed to freedom, to democracy and to human rights. Viva Freedom, Viva Democracy, Viva Iran

On balance, to me the evidence seems to show that a reasonable person could come to the conclusion that this election may have been rigged. To avoid a revolution and further bloodshed, a new fair election must be held.

In an age of instant communication you cannot deceive your population for long. If you throw an election, it will get out. In an age of transparency, the days of leaders who don’t serve their people are numbered.

If you’re on Twitter, you can connect with me via @ryanallis.

The revolution will be Tweeted.

P.S. - Here is an interesting article on how protests were organized before the days of social media.

Filed Under All, International, Politics, Tech, Thoughts · 3 Comments  

Urgent: Protect Your Brand on Facebook

June 11, 2009

Facebook is allowing users to select a username at 12:01am EDT Saturday. Instead of long profile URLs like http://www.facebook.com/profile.php?id=2712652 you’ll be able to choose a username so that you could send people to a page like http://www.facebook.com/yourname.

How to Protect Your Trademark

If you run a company or organization that owns a trademark and you want to prevent others from registering your trademark as their username, you need to fill out this Trademark Registration form on Facebook right away.

This form is just for company names and trademarks, not for personal names. You can’t prevent others from registering personal names. So to be sure you get the URL you want (which will stick with you for the rest of your life) be ready and on Facebook at http://www.facebook.com/username/ at 12:01am eastern time this Friday night/Saturday morning!

Cheers,
Ryan Allis

Filed Under All, Tech · 1 Comment  

Inside The White House Friday…

March 8, 2009

On Sunday March 1 I got a voicemail. The call was from Elliott Bisnow. It said, “Come to The White House on Friday.”

Background on The Summit Series

I’ve written about Elliott before. He’s 23 and somehow, with an excellent team, has put together The Summit Series, designed to bring together the top entrepreneurs, social entrepreneurs, and innovators under 40 in the world. The group started in April 2008 in Utah wanting to bring together cool people. The purpose has evolved and strengthened as the group as grown.

Today, the purpose of The Summit Series is to bring future global leaders together to figure out how to make the world better. They’ve brought together people like Jessica Jackley, co-founder of Kiva, Scott Harrison, the founder of Charity Water, Eric Ryan and Adam Lowry, co-founders of environmentally-friendly soap maker Method, and Blake Mycoskie, CEO of TOM’s Shoes, who has given away tens of thousands of shoes to children in developing countries.

They’re working to build a community of the most influential young entrepreneurs, social entrepreneurs, and innovators to make a positive impact. It’s the Clinton Global Initiative, Davos, and TED for Generation Y.

At the next Summit Series in April in Aspen, the focus is on philanthropy. They’ll be bringing in Mikkel Vestergaard Frandsen (inventor of the LifeStraw) and Elizabeth Gore from Nothing But Nets, Lauren Bush from Feed Projects which sells bags that enable a contribution to feed a child for a year, Bobby Bailey from Invisible Children which works with child soldiers in Uganda, and Ethan Zohn from Grassroots Soccer, who took his $1 million from winning Survivor:Africa to set up soccer leagues in Africa that enable children there to get tested for HIV/AIDS.

In just one year, The Summit Series has grown through hustle, hard work, and word of month to 120 members, including some of the most well-known and respected ‘under-40′ entrepreneurs and social entrepreneurs in the world.

This brings us to three weeks ago.

How The Meeting Transpired

On February 22, Elliott met David Washington and Yosi Sergant (the guy who launched the iconic HOPE poster) from the White House Office of Public Liaison at a DC event. Elliot told David and Yosi about Summit Series. They were interested in getting the message out on the Obama Administration’s efforts on job creation, the economy, energy, health care, transparency, and new media and building relationships over time with the attendees.

So it happened. David and Yosi told Elliot to find 30 people from Summit Series to come to a meeting at The White House on March 6th.

When someone calls to tell you to come to a meeting at The White House, you go. The White House has a “strong gravitational pull” as David Sutphen of Brunswick Group put it on Friday morning. And so I went.

Friday At The White House

So on Friday morning I flew to D.C. After getting a last minute haircut at an ‘old-school barbershop’ on 15th and H and running into my NASA-friend Stephanie Fibbs on the walk back, the Summit group met at 12pm at the Hay Adams Hotel for a reception.

At the reception I had a chance to meet Jake Nickell from Threadless, Evan Williams with Twitter, Mark Ecko from Ecko, Michael Chasen from Blackboard, and investor Chris Sacca from Lowercase Capital and reconnect with Tony Hsieh from Zappos, Aaron Patzer from Mint.com, Ben Kauffman from Kluster, and Josh Abramson from College Humor.

Lunch followed. At the table was Jessica Jackley from Kiva, Aaron from Mint, Ivanka Trump and her fiance Jared Kushner of the New York Observer, Catherine Levene of Daily Candy, and David Sutphen of Brunswick Group.

Setting Expectations

Prior to heading to The White House, David Sutphen and Phillipe Lanier of Eastbanc set expectations. We were not there to add on to the endless to-do list of the Administration. We were there to understand what was currently being done, ask questions, and build a long term relationship.

We heard that the Administration members we were about to meet were “drinking from a firehose” currently. They explained that we not there to give lots of ideas, but rather to learn what was happening so that we could be the entrepreneurial implementers and doers in our own communities working toward addressing critical needs. It wasn’t just about one day, but an ongoing relationship that started that day.

They shared that the Obama Administration saw us as one medium to communicate what they were working on to others via new media and as one filter of constituent thoughts and suggestions. With the CEOs of web firms Twitter, Zappos, iContact, Threadless, Mint, and Blackboard in the room we could certainly do that. They wanted to build a long term relationship with us and authentically wanted our contribution and ideas–just not all at once and in a usable ’summarized, bulletted form.’

So we walked over. We got our security passes at The Eisenhower Building and then went inside. We went up three floors and down a hallway to a room with thirty chairs and a table.

The Agenda from The Meeting

The meetings during the 90 minute session went as follows:

2:00pm - David Washington, Ph.D - Assoc. Director of the White House Office of Public Liaison and Michael Strautmanis - Chief of Staff to the Assistant to the President for Intergovernmental Relations and Public Liaison

2:15pm - Jason Furman - Deputy Director of the National Economic Council

2:30pm - Martha Coven, Special Assistant to the President for Mobility and Opportunity; Greg Nelson, White House Office of Public Liaison; and Heather Zichal, White House Office of Energy and Climate Change

2:50pm to 3:30pm - Macon Phillips, Director of New Media

Notes from The White House Meeting

Here are my rough notes from each session. All quotes are paraphrased and could be incorrectly attributed in some cases due to my sub-par note taking system

David Washington

  • We want to know your ideas on how we can make government more transparent.
  • We want examples of how the stimulus is helping–anecdotes and stories that you see.
  • Our focus is creating jobs–but we need your help in doing this.

Michael Strautmanis

  • Some of the stimulus may work. Some may not. We’re here for solutions not banter.
  • When I met Michelle Robinson, she treated me as if I had value.
  • President Obama challenged us to make government more transparent.
  • From transparency comes legitimacy.
  • The OMB is more transparent now. Longer explanations. Posting on Recovery.gov.
  • As entrepreneurs, I want you to think creatively about the world of making the world a better place for our children.
  • Only way to fix economy is to get on a sustainable path with fiscal responsibility.
  • We have to create dynamism and energy. It takes heart.
  • Other generations have had other challenges. Together we can meet these challenges.
  • We are partners for creating a sustainable future.
  • In response to question from Chris Sacca on will Obama start Twittering again: That is up to the Secret Service.

Jason Furman

  • We’re working on unfreezing credit, bringing down the cost of health care, energy independence, the climate, education, and fiscal sustainability.
  • In response to question on budget deficit from Aaron Patzer of Mint: Right now a fear is deflation. A deflationary spiral is the biggest nightmare for economists. The amount we’re borrowing today is small in comparison to our GDP and needed. Our economy can afford the deficit. We have a path to cut the [annual] deficit by 50% in 5 years. People are lending to the U.S. cheaply at 2.5%.
  • We have 12.5M unemployed. Some banks may have negative net worth. Housing was overpriced.

Martha Coven

  • We are working on creating green jobs.
  • I want the best ideas from the private and social sector to bubble up to Federal Policy making.

Heather Zichal

  • In response to question on solar power and home owners selling energy back to grid: We will think about homeowners selling electricity back to the grid.
  • We are focused on energy and climate change.
  • Administration making a commitment to CAFE standards and reducing dependency on foreign oil
  • Cap and trade revenues to start in 2012 according to budget

Greg Nelson

  • As business leaders you have a chance to redefine what the role of a business leader is.

Macon Phillips

  • Creator of change.gov, whitehouse.gov, and recovery.gov
  • We want to work with you on creating a PSA 2.0
  • I love free dissemination
  • We’ve made time for this because we want you to be empowered.
  • Wants abilities to get mass response, but with usable outcomes. 8,000 comments can be unusable sometimes.

What They Asked of Us

Overall, I was very glad to participate. Each of the 30 attendees has been asked to do the following:

  1. Act as a filter/community ambassador for the best ideas/suggestions/thoughts on what we can do on the economy, budget, energy, healthcare, education, and new media. Get feedback from your community and send the best to us from time-to-time in summarized, bulleted form.
  2. Send any examples/anecdotes/stories that we hear of due to investments from the Stimulus making a positive impact in your community.
  3. Send any ideas/suggestions/thoughts on how to make government more transparent and open.

Finally, they asked us to go back to our communities and work entrepreneurially to create positive change, address social needs, and create jobs. They said we must create a true partnership between the public, private, and non-profit sector for it to work.

My Thoughts on The Meeting

I very much appreciated the meeting. It was done with good intentions, and not as a media stunt. They shared with us what they were working on and how we could be part of it to increase the chance of success.

It was clear how smart, busy, and focused these people were. They were glad to meet us and we were certainly glad to meet them. They could be us and we could be them.

They gave us their direct email addresses and encouraged us to act as a filter for them for them on the best ideas. Finally, they invited us to build a long term relationship and explained that as we built trust over time, our influence as a group would grow.

After the Meeting

After the meeting, we all went to a local restaurant to discuss what we had experienced. We broke out into four groups to talk about our ideas and begin to refine them. The groups were:

  1. Economy and the stimulus
  2. Education and job creation
  3. New media and transparency
  4. Energy and the environment

I led the group on the economy and the stimulus. I’ll be writing up my notes and posting them soon.

Where It Goes from Here

So we’ve been asked to be one informal filter (of many) for these individuals in the Administration and Office of Public Liaison and help ensure they’re getting the best ideas from the best people filtered to them every few months in summarized form.

I’ll be holding an Entrepreneur & Social Entrepreneur Meetup at my house in Chapel Hill on Friday March 20th at 8pm at which I’ll present what we’ve been asked to do and start the discussion with the group.

We’ll likely hold a separate meetup (date TBA) in early April to discuss and debate ideas and policy proposals on the topics of: economy, budget, energy, healthcare, education, transparency, and new media. We’ll then filter the ideas and present a summarized form to our new contacts in the Obama Administration.

If you have any ideas or thoughts please post them below via the comment section.

The Tweets From The Meeting

Since Evan Williams, the founder of Twitter with 231,000 followers, Tony Hsieh of Zappos with 197,000 followers, and Chris Sacca with 132,000 followers were with us, we may have been in the most tweeted meeting at The White House in the history of the world.

The post-meeting Tweets were positive.

@ev wrote: “Lessons from today: Obama’s team: smart and committed. Learned a lot and was inspired.” and

@saaca wrote: “The folks from the White House are sharp. Obama made it cool once again for awesome people to serve in government.”

@tomsshoes wrote: “Just left the meeting - pretty inspirational. The administration really does want our input, each gave their personal email addresses and encouraged dialogue.

Feedback from Readers and Friends Prior to the Meeting

I was amazed at the response I got by soliciting feedback prior to and during the meeting on Facebook and Twitter. More comments flowed in than I’ve ever gotten before on a status update or Tweet.

I asked on Thursday night via Facebook and Twitter, “meeting at White House Friday to discuss ways to improve economy. Any suggestions?” I got 29 responses. Note that you’ll have to be my Facebook friend or in the UNC or Raleigh-Durham network to read them I believe.

I also asked on Friday, “just challenged by the Obama Administration to provide idea on how to make govt more transparent and open. Ideas?” I got 17 responses.

Photos from The Day

Here’s a photo of the front of the brochure for the day:

And here is Jeff Rosenthal and I with Jessica Jackley of Kiva inside the Einsenhower Building.

Comments Sought

What are your thoughts/ideas/policy proposals in the areas of economy, budget, energy, healthcare, education, transparency, and new media? Post and get the discussion going…

Filed Under All, Entrepreneurship, Good Times, Journal, Policy, Politics, Social Entrepreneurship, Tech, Travel, Young Entrepreneurship · 10 Comments  

OptInNow.org - Opportunity International’s New Kiva-Like Site

December 18, 2008

This is something really cool.

I had coffee this evening at the HW55 Starbucks in Durham with Sam Serio from Opportunity International. Opportunity International is a Christian microfinance organization that’s been around since 1971.

Opportunity International has launched a site called OptInNow.org. OptinNow allows you to make small loans directly to entrepreneurs in developing countries.

Comparison to Kiva

OptInNow is similar to Kiva, with the exception that the loans made are contributions to Opportunity International and are re-loaned over and over again to entrepreneurs with microenterprises in developing countries instead of paid back directly to the lender. Another difference is that Opportunity International has a Christian affiliation whereas Kiva does not.

OptInNow.org is in the early stages, so the site does not yet have as extensive inventory of loans and projects as Kiva, but does allow loans to be made to entrepreneurs in Kenya, Ghana, the Philippines, and Mexico with many more to come soon.

Props to the folks at Opportunity International for creating a well-designed usable interactive site that will get a lot more visibility and unique donors for their organization.

Aid 2.0

As opposed to the old-school ‘top-down’ Easterly-criticized bi-lateral government-to-government aid model where funds were given to oft-unelected semi-corrupt dictators for cold-war geopolitical reasons that indebted the populace without providing much benefit to them while sometimes forcing the funds to be used to pay Western contractors (okay I’m being a bit harsh here but do read Perkins’ Confessions of an Economic Hit Man and Stiglitz’ Globalization and Its Discontents), OptInNow’s model is from the grassroots–from the bottom-up. It gives small amounts of funds that can make a world of good directly to the local entrepreneurs who know how to best use them. It’s market-based aid versus the top-down centrally controlled aid of the past.

Who Is It Run By?

Opportunity International is currently run by CEO Christopher Crane, an entrepreneur, YPO member, and Harvard MBA who took commercial real estate information provider COMPS InfoSystems to 450 employees and took it public in May 1999 before being acquired by CoStar (NASDAQ:CSGP) in February 2000. I haven’t met Christopher yet but look forward to meeting him soon.

Here’s a video about OptInNow. Spread the word!

————————

About Opportunity International

Opportunity International, the largest not-for-profit microfinance organization in the world. OI began in 1971 and specializes in working with the poorest of the working poor, those who make less than $2 a day. OI has 1.2 million active loan clients in 28 countries and 85% of their clients are women. Here are some key facts.

Opportunity International 2007 Highlights
Current loan clients worldwide:
 1,121,786
Value of current loan portfolio worldwide:
 $500,891,820
Number of loans made in 2007:
 1,772,139
Value of loans made in 2007:
 $702,278,911
Average loan size:
 $227 (excluding Eastern Europe)
Average first Trust Group loan:
 $162 (excluding Eastern Europe)
Loans to women:
 84.13%
Loan repayment rate:
98.5%
Source: http://videos.opportunity.org/website/media-center/Opportunity_International_Fact_Sheet.pdf

————————

About OptInNow
Our mission is simple. We’re working to end global poverty. Faster. How? By providing those who live in chronic poverty with one vital thing they need to transform their lives: Opportunity. Along the way we hope to transform additional lives, like yours. That’s why we’ve made it so simple for good people everywhere to come together, to fund small loans, to witness big and lasting impact, and to truly change the world. That’s what we’re really about. We’re about every land becoming a land of opportunity. And with your help we’ll get there.

Filed Under All, Social Entrepreneurship, Tech · 1 Comment  

Review of The Dream by Gurbaksh Chahal

December 13, 2008

I’m sitting in the corner of the Starbucks at the Southpoint Barnes and Noble in Durham. I’m reading The Dream by Gurbaksh Chalal (nickname ‘G’), a 26 year old internet entrepreneur from India and San Jose, California. G has a compelling writing style in the beginning, writing of the difficulties he encountered growing up as an Sikh Indian-immigrant. Here are my notes from the book.

G dropped out of high school at age 16 to start a performance-based advertising network called Value Click.

Growing Up a Sikh Immigrant Indian in San Jose

Some of the stories in the first part of the book that initially struck me were:

  • His father and him day trading on margin in 1997 and doing equity research together. In October 1997 (right before the Asian Market Crisis) the market had a small dip and in fear of the market falling further and not being able to cover his margin sold at the very bottom, which caused his father shame and nearly to lose their new house.
  • G being forced to remove his turban at knifepoint when playing basketball in the ‘hood’ of San Jose.
  • G taking a public speaking class in high school and having to give a speech as a very traditional Sikh about the randomly assigned topic of Viagra.

Here’s how G. got started…

  • Buying the HP.net and Dell.net domain names in 1997 and sending a letter to the companies offering to sell the names back to them for $10,000–and then receiving threatening cease and desist letters and giving the domains back for free.
  • Starting to sell printers on eBay, then starting a performance-based advertising network Click Agents
  • Setting us his very first deal in a very ‘Elliot Bisnow’ type of way–by getting one ad agency to commit one $30k insertion order (IO) at $1 CPC and only after having it, building his ‘consortium’ of web sites to traffic the ad at a 50/50 rev share, all along using the fake name Gary Singh.

Results Matter

An excerpt from p. 59:

“All the knew was that Gary Singh delivered, and that’s all they cared about. They had no idea they were dealing with a sixteen-year-old kid because I presented myself as a serious professional. Once again, perception is realty. That’s not a kid on the other end of the line. It’s a guy who delivered on his promises.”

On page 80, G tells a story I can relate to, his servers went down for a week due to a vengeful vendor. His story reminds me of the week in December 2003 our server went down due to hardware failure. An excerpt:

“We were offline for an entire week… A week without the Web. Well that was the lifeblood of my business, and that week almost put us under… Time in the Internet is measured in dog years .For that entire week, Click Agents had ceased to exist.”

Ideas Vs. Execution

Gurbaksh makes a good point about the value of ideas vs. execution on p. 100.

“If you have an idea for a company, that’s just the beginning–that’s your entry point. What really matters is execution. Don’t think about the millions you’re going to make, think instead about creating a company that will be worth millions… The difference is huge. Success is laregely about substance. If your company is about real, tangible assets, and you’re looking the the long term, you are going to be handsomely rewarded for it.”

Struggling With Bureaucracy at ValueClick

On page 117, G laments in an amusing paragraph, working for the slower, bigger, public ValueClick. VCLK had bought Click Agents in November 2000 for $40 million.

He notes, “…in this new environment, I couldn’t move forward without official approval. I had to sell an idea to one guy, then to a second guy, and then to two or three more guys after that, and they all seemed incapable of making a decision. I guess that’s what people mean when they talking about the bureaucracy. It’s a place where absolutely nothing gets done. And the larger the organization, the less one is able to accomplish…I couldn’t understand how corporations actually accomplished anything, since the bureaucracy seemed to be designed solely to steer you into one brick wall after another.”

Getting over The Fake Excitement of Materialism

Around page 136, G. begins to talk of all the Ferraris and Lambourghinis he purchased after selling his ValueClick shares. I was disappointed by the materialistic focus of this part of the book, but I could understand it in my own imperfection. I owned a 350z for two years when I was 21 to 23 before I sold it due to what it was doing to my personality.

On p 139, G writes, “I was breaking one of my own business rules. Need versus necessity. Did I really need that king of luxury.? No. Then again, maybe I’d earned it. So I Lived with it. After all, as they say, all work and no play makes G a dull boy.”

G was close to coming to the conclusion that the two luxurious $240,000 Lambourghini’s he bought was a little over the top but didn’t quite get there. I was disappointed in him at that point.

One of G’s ‘lessons’ later in the book that he shares is “Forget noble motivations.” On this, more than anything else, I disagreed with G.

Blue Lithium

After his three year non-compete agreement with ValueClick was up and after G sued ValueClick for securities fraud, he started BlueLithium in 2004 at the age of 22. He raised $11.5 million from 3i and Walden VC when the company was doing $200,000 per month in sales in February 2005. I’m not sure what G was thinking, but as part of this deal he agreed to a 5 person board, of which 3 were selected by the investors.

In my view, it is not in an entrepreneur’s best interest to let investors pick a majority of the board (and thus effectively control the entire company for a minority investment). It seems like G did not have a choice based on the amount of money raised and the stage but I would have thought he would have had more ability to set terms in the round having had a nice success previously. On p 186, G describes the difficulty he experienced with his Board believing in him when ValueClick sued BlueLithium claiming he had stolen trade secrets.

In the end, BlueLithium did well with its behavioral targeting ad technology that was able to show relevent ads to consumers based on their internet browsing history. They sold the company to Yahoo on September 4, 2007 for $300M when they were about the same size iContact is today. They had good timing and in retrospect sold at a good time, following the DoubleClick/Google, aQuantive/Microsoft, and 24/7 Real Media/WPP Group transactions.

The Secret Millionaire

In Chapter 6,  G describes how he ended up being part of the current Fox show The Secret Millionaire. The premise of the show is that an American millionaire (in this case, G) lives in a distressed community for one week and talks to people and then decides at the end of the week how to allocate $100,000 to non-profit organizations in the area.

As an aside, relevant to the premise of The Secret Millioniare, last night at Crunkleton’s (bar in Chapel Hill), I had an in-depth passionate debate with my friend Jess last night about Easterly’s The White Man’s Burden and whether any benefactor or philanthropist, including myself, can legitimately and morally go into a distressed community for just one week and then appropriately contribute funds without knowing fully how they will be used and whether the impact will in fact be positive or sustainable.

I made the point to Jess (who spent 2 months in Uganda at the Sachs’ Millennium Village Project in Ruhiira last summer) that I had visited Uganda in July to see the impact of the small funds I’d already contributed and to see with my own eyes how the funds were being used and whether the organizations could efficiently and and positively utilize more in the future. I argued that some BHNs like education, healthcare, and clean water were simply fundamental to humanity and that the core issue with aid that Easterly described were mainly caused by bi-lateral government to government aid that was not reaching the people. Instead, providing aid directly to grassroots organizations run by locals in which you could see the impact yourself was qualitatively a better method. The show has gotten some criticism here and here and of course on ValleyWag multiple times, but I’ll hold my view until I can catch an episode.

G’s Entrepreneurship Lessons

Finally, G ends the book with 27 lessons on entrepreneurship. They are:

  1. Listen to your heart.
  2. Forget noble motivations (one I disagree with)
  3. Adjust your attitude
  4. Figure out what you’re good at
  5. Trust your gut
  6. Do your homework
  7. Be frugal
  8. But don’t be frugal with hiring
  9. Hire smart people
  10. Don’t expect perfection, but strive for it
  11. Learn to listen
  12. Own your mistakes
  13. Never compromise your morality
  14. Never lose sign of the competition
  15. Watch your back
  16. Don’t procastinate
  17. Don’t do anything by half-measures
  18. Be nice to people
  19. Negotiate from a position of strength
  20. Expect the unexpected
  21. Perception is reality
  22. Don’t get emotional
  23. Be fearless
  24. Pick your battles
  25. Grow a think skin
  26. Take chances
  27. When you commit, you really have to commit.

Overall, I would recommend the book as for me it was good to understand the process of professional and personal development of a similarly aged internet entrepreneur. It did not provide much how-to and was more biographical in nature.

I’m sure I’ll meet Gurbaksh soon enough at one of Elliot Bisnow’s get-togethers for young technology entrepreneurs sooner or later, and I look forward to the day. I could relate to much of the bananas G went through including being bullied when young for being different, sacrificing other opportunities to build a business, raising venture capital at 21, and finding flow every day by being immersed in a company.

Filed Under All, Books, Entrepreneurship, Tech, Young Entrepreneurship · 6 Comments  

Wireless Electricity Update

September 14, 2008

iContact co-founder and my partner Aaron Houghton has posted a great update on the state of the commercialization of wireless electricity on his blog TechInnoVenture.

He and I have been keeping each other updated on what we hear about wireless electricity–the ability to transfer electric power from one place to another without wires. It’s possible and it’s happenning today.

On August 21, Intel demonstrated their ability to transmit electricity wirelessly over a distance of approximately one foot to power a lightbulb. This Intel R&D was based of prior research at MIT by Marin Soljacic. Profossor Soljacic has dubbed wireless electricity, “Witricity.”

The near-term market opportunities revolve around low-wattage charging of electronic devices like phones, DVD players, and GPS units. But a visionary world of a “house without wires” and “neighborhoods without wires” can be imagined.

Aaron notes, “I envision a go-to-market solution here where 15-20 feet is considered good enough for the first round of devices because it accommodates the size of a standard private office, cubicle, or room of a residential house. Since all of these are already hard-wired from an external source to the outlet the big advantage here in the short term is from the wall outlet to the end device: the cell phone, laptop computer, monitor, projector, digital camera, etc. I think the first company that moves in this space will establish a brand name with builders who will install the wireless electricity sending devices into each room they build alongside traditional plug-in devices. These relationships will then later be leveraged as a product with the required efficiency at longer distances and through more obstacles (walls being the important ones to consider) becomes available and they go into production as the infrastructure that moves power from an external source to every outlet or end device within a building. I haven’t done the math but my gut (Steven Colbert reference) tells me the first opportunity is at least a $50 billion annual market with the latter being 3-5x that annually. Then of course the opportunity that remains is for long distance regional power distribution through the air.”

While our focus is email marketing software for SMBs, it’s always fun to talk with Aaron about what future technologies could bring ranging from wireless electricity to fusion power. As Thomas Friedman says, the ET (energy technology) revolution is upon us.

Well I’m off to read more about the effects of Lehman’s possible collapse and Merrill’s purchase by BOA. Remember, as Buffet always says, “Be fearful when others are greedy, and greedy when others are fearful.” Tomorrow may very well be the best U.S. equities buying opportunity we see in our lifetimes.

Filed Under Entrepreneurship, Tech · 1 Comment  

$1M Prize for Best Developing Country Technology Innovation

July 22, 2008

Legatum Group, founded by Chris Chandler and based in Dubai, has announced today at Fortune Brainstorm Tech in Half Moon Bay, California a $1 million prize for the best technology innovation from a for-profit company in the developing world. I will update this blog when they post details on how to enter.

I wanted to write this post as from all appearances, Legatum seems to be making a concerted effort to invest in long-term sustainable development in developing countries and putting their money where their mouth is. They are a sponsor to the Fortune conference here, and are mostly unheard of. Even their original company Sovereign Global, is nearly unheard of. Yet they manage over $4B in capital invested in India alone.

Legatum is the donor to the Legatum Center for Development and Entrepreneurship at MIT. They invested $50M in the Center to obtain naming rights. Here is a short video I took this afternoon of Iqbal Quadir who is the founder and Director of the Legatum Center for Development and Entrepreneurship at MIT.

Although Dubai-based, the group is made up strictly of Westerners, mainy of whom previously worked at Chris Chandler’s Sovereign Global. They claim a 40% CAGR over the lifetime of thier original fund started in 1986. The President of Legatum, Mark Stoleson, attended Occidental College and Duke. The other chief team members attended Wharton, London Business School, Babdon, Oxford, and University of Brisbane and has worked at law firms, JP Morgan, Goldman Sachs, and PWC.

I do wonder if most of these individuals are based at the head office in Dubai, which is slowly on its way toward challenging London and New York for the global capital headquarters. If you can find any statistics on capital under management for equity investment firms based in New York, London, Hong Kong, and Dubai please let me know.

Legatum Group is also the creators of the Africa Prize, which gave away $450,000 in 2007 to the most innovative businesses in Africa. Their philosophy is simply that for-profit businesses are more efficient at creating positive social improvement than bi-lateral foreign aid which in their Easterlyan-like view too often has created dependency.

Filed Under All, Entrepreneurship, Social Entrepreneurship, Tech · 3 Comments  

At Fortune Brainstorm Tech in Half Moon Bay, CA

July 21, 2008


Today through Wednesday I am the Fortune Brainstorm Tech conference in Half Moon Bay, California, about 45 minutes south of San Francisco. After a Segway tour along the Pacific this afternoon, the sessions began at 4pm. We’ve heard from Michael Dell, Jeff Bezos, Marc Benioff, and Brad Smith, the CEO of Intuit.

Here are some notes on what some of the panelists spoke about:

Dell

  • 500,000 people per day who come onto the internet for the first time
    large majority are outside the United States
  • Long term bull on the long term impact technology can have on society
  • Came back as CEO for second time
  • Put his ‘big ears’ on, listened to the employees
  • Thought of themselves as a company that listened
  • Will have about 2 billion conversations with our customers this year
  • centrally controlled tops-down is not most response way
  • We should have fiber to the home

Benioff

  • It’s not just company talking with customers, but customers talking with eachother in a one to many conversation
  • Customers are able to gang up on us
  • The acceleration of the soul of the world
  • Fareed Zakaria - Post-american World
  • The internet is the great accelerator in societal evolution
  • A change in the world can only happen if there is a change in conciousness
  • Dalai Llama - world peace comes through inner peace
  • web 1.0 - transact
  • web 2.0 - collaborate
  • web 3.0 - innovate (via platform)                                                         

Brad Smith, 5th CEO of Intuit in 25 years

  • 50 million end users
  • Connecting florists with florists in different zip codes
  • Intuit now 50% SaaS

Other livebloggers at the conference include:

Filed Under All, Conferences, Journal, Tech · 1 Comment  

This Page May Contain Content That is Not Consisent With the Moral Cultural, or Social Values of the UAE

July 13, 2008

Censorship in Dubai

I was in Dubai for a night two weeks ago on my way to Uganda and tried from my Holiday Inn Express in Dubai Internet City home of the Middle East campuses of Sun Microsystems, Cisco, and EMC and to access a blog called Secret Dubai Diary. The site came up in a Google search for Dubai nightlife. When I tried to access the site, I got the lovely “Surf Safely” message above, indicating that this site was “inconsistent with the moral, cultural, or social values of the UAE.” Unfortunately for the government censors in the United Arab Emirates, they didn’t think to block the Google Cache version of the page.

It was very reassuring that UAE recognizes the Internet as a “powerful medium of communication, sharing and serving our daily learning requirements.”

If you wish, you can send an email to “safesurf[at]du.ae” to share your view of Internet censorship.

Filed Under All, Tech, Travel · Leave a Comment  

The Move Toward Agile Development & ChannelAdvisor’s Open House Tuesday

February 10, 2008

Agile Development

Our good friends at ChannelAdvisor are having an Open House celebrating the launch of their Agile Development Center on Tuesday from 6pm to 8pm. You can learn more and register to attend at http://www.channeladvisor.com/openhouse/. If you are interested in web software development or web software entrepreneurship I encourage you to attend.

Over the past two years, I’ve seen the rise of Agile Development within web-based software companies. In the old days, companies would often write long fairly rigid product requirement documents and then work for four, six, twelve, or even eighteen months until all the features and improvements were completed and tested (hopefully) and then deploy a large version-incrementing product update. One of the most common forms of this sequential type of development was called the ‘waterfall model’ which was created in the 1970s and involved the phases of determining requirements, designing, coding, quality assurance, and maintenance. The next phase could not begin until the previous phase completed.

At iContact, we used a similar longer model of software development until early 2006. Then in March 2006 we switched over to a new model called Agile Sofware Development and began using a form of agile development called scrum methodology, which involves short sprints (4-6 weeks), daily huddle meetings, sprint reviews, and sprint planning meetings. This adherence has greatly improved our ability to develop quality product rapidly. While I’m more a marketer than a technologist, I’ve been fascinated to see the rise of Agile Development.

In 2001, a group of 17 influential thinkers got together in Utah to create the Agile Manifesto, which spelled out the key principles of Agile Development. The wrote that they valued:

Individuals and interactions over processes and tools
Working software over comprehensive documentation
Customer collaboration over contract negotiation
Responding to change over following a plan

The key principles core to their Manifesto were written as:

  • Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.
  • Welcome changing requirements, even late in development. Agile processes harness change for the customer’s competitive advantage.
  • Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.
  • Business people and developers must work together daily throughout the project.
  • Build projects around motivated individuals. Give them the environment and support they need, and trust them to get the job done.
  • The most efficient and effective method of conveying information to and within a development team is face-to-face conversation.
  • Working software is the primary measure of progress.
  • Agile processes promote sustainable development. The sponsors, developers, and users should be able to maintain a constant pace indefinitely.
  • Continuous attention to technical excellence and good design enhances agility.
  • Simplicity–the art of maximizing the amount of work not done–is essential.
  • The best architectures, requirements, and designs emerge from self-organizing teams.
  • At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behavior accordingly.

The efficiency of software development is certainly key for any web company. The Agile methodology is a fascinating movement and I look forward to watching it continue to evolve. You can learn more about Agile Development at:

http://www.unboxedconsulting.com/about_us.php
http://www.envisagenow.com/meth_ov.asp
http://magpiebrain.com/blog/2005/02/14/the-agile-release-process/
http://www.ambysoft.com/essays/agileLifecycle.html
http://www.rallydev.com/implementing_agile_process.jsp

Filed Under All, Tech · 2 Comments  

Next Page »