Nearly one year ago, I published my first infoChachkie interview, with Kevin O’Connor, Co-Founder of FindTheBest. At that time, I was not utilizing video. Thus, I was very excited when Kevin graciously agreed to make an encore appearance via Skype. If you care to review my prior discussion with Kevin, you can do so HERE.
Before starting FindTheBest, Kevin was the Co-Founder and CEO DoubleClick (sold to Google, $3.1B and a seed investor ISS (sold to IBM, $1.3B). He is truly an Internet pioneer, having also been a seed investor in 1-800 Flowers and HotJobs.
He jokes that in the photo below, he was the only guy who could get up on the file cabinet. You may recognize a few other folks in this photo, including: Jeff Bezos, Jerry Yang and Steve Jobs.
As an Instructor of entrepreneurship at UC Santa Barbara, I welcomed the chance to read Brad Feld & Jason Mendelson’s Venture Deals: Be Smarter Than Your Lawyer And Venture Capitalist. As the authors make clear in the book’s preface, their goal is to create a “definitive guide to venture capital deals” and “demystify the venture capital financing process.” Their primary intended reader is a “first-time entrepreneur”, but clearly other stakeholders within the startup universe can also benefit from the book’s hands-on advice.
Even though I have raised significant venture capital as an entrepreneur and have participated in dozens of transactions as an investor, I still found the book to be informative, especially with regard to the dilutive impact of some of the more onerous deal terms that we avoid at Rincon Ventures.
Note: This is an installment in the Iconic Advice series. Other installments include: Jeff Bezosand Steve Jobs.
Last weekend, a friend gave me and my family a wonderful ride in his plane. Departing from Edwards AFB, we flew over the Mojave Air and Spaceport, home of the world’s largest private manufacturer of spacecraft, The Spaceship Company (TSC).
TSC is building spacecraft for Richard Branson’s Virgin Galactic space fleet. Despite the fact that the specific date of Virgin Galactic’s maiden voyage remains unscheduled, over 450 citizen astronauts have put down a deposit of at least $20,000 on the $200,000 per-person fare.
In October of 2011, the company announced a $4.5 million deal with NASA to use Virgin Galactic spacecraft to conduct experiments, filling the void left by the retirement of America’s shuttle program.
It is undoubtedly impressive that Richard Branson has motivated a government organization and hundreds of intelligent, affluent people to commit millions of dollars to secure a service that does not yet exist. Even more striking is that this super-salesman is a self-taught, high school dropout. Continue reading “Eleven Startup Tips From Richard Branson”→
Note: This is the third installment in the Startup Team Building series. Read Part I HERE and Part II HERE.
When hiring ATM Operators at a Big Dumb Company (BDC), assessing each candidate’s ability to execute predictable tasks is of paramount importance. As such, the recruitment process revolves around applicants’ resumes, which highlight what they have previously done in their professional careers.
What is important at a BDC, because most duties performed at mature entities are repetitive, structured and involve minimal ambiguity. Thus, evaluating the tasks a candidate has previously performed is a valid methodology when filling job openings in relatively static organizations. Continue reading “When Hiring Entrepreneurs, Ignore Their Resumes”→
Before it became a monolithic, multi-billion dollar organization, DoubleClick was a wily, nimble startup. In those early days, the DoubleClick team used a variety of guerilla marketing tactics to rise above the chaos endemic in the online ad world during the Internet’s nascent evolution. Continue reading “DoubleClick’s Guerilla Marketing Legacy”→
I recently spoke with Marten Mickos, the former CEO of MySQL and current CEO of Eucalyptus Systems, the leader in private cloud platforms. Eucalyptus’ underlying technology was developed at UC Santa Barbara. Since its origin as an academic research project in 2007, Eucalyptus has become the dominant open source cloud solution, boasting over 25,000 clouds formed.
According to Marten, “We enable companies to run, within their own firewall, a cloud that behaves exactly like the public clouds, exactly like Amazon. So there is benefit of a running a cloud in-house, you have your own servers but you get full elasticity and you can shift workloads between your various applications.”
“…the world’s greatest CEO, ever. He did more for Apple’s shareholders, customers and employees than any other CEO has ever done for their shareholders, customers and employees. People should not try to emulate him, because they will be setting themselves up for failure. He is a great example of…building an enchanting company.”
Note: This is Part I in the Startup Advantages series.
Startups have few advantages. One of the most significant is the ability to keep your cards close to your vest. A major disadvantage of a public Big Dumb Company (BDC), as well as one that works closely with governmental agencies, is the degree to which they are forced to publicly disclose otherwise confidential information. Continue reading “Startups Should Avoid Dropping Trou”→
“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t really do it, they just saw something. It seemed obvious to them after a while. That’s because they were able to connect experiences they’ve had and synthesize new things. And the reason they were able to do that was that they’ve had more experiences or they have thought more about their experiences than other people.
Unfortunately, that’s too rare a commodity. A lot of people in our industry haven’t had very diverse experiences. So they don’t have enough dots to connect, and they end up with very linear solutions without a broad perspective on the problem. The broader one’s understanding of the human experience, the better design we will have.”