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Aug 12, 5:00AM
Editors Note:
Peter Arvai, CEO of Prezi, is passionate about helping people create and communicate big ideas. Peter is a serial entrepreneur, prior to joining Prezi, he established healthcare startup omvard.se and was part of creating the first mobile news reader. Big ideas fuel the entrepreneurial spirit. An idea passionately pursued through a labyrinth of "what-ifs" can be the launch of the next great company, the new skyrocketing startup. Apple, under the leadership of Steve Jobs offers an example of a company built on a foundation of big ideas. With a storied reputation of innovation, Jobs and Apple seemed to have captured the magic of having the right idea at the right time over and over again. But this magic is misleading. We applaud the genius of those like Steve Jobs for big ideas that transform our perceptions about what is possible. However, we fail to recognize the work that got him there. For every 'Steve soundbite' we remember today, there were weeks of intense development, preparations and actual rehearsals – all that just to present the idea. It was never the right idea at the right time but an idea that was thoroughly explored and improved over a period of time. This is the most important lesson aspiring startups and entrepreneurs can learn from Jobs and other big thinkers: how to give space and time to discover, explore and convey big ideas.
Aug 12, 2:00AM
Editor's note: Guest author David Cho is CEO and co-founder of Sidebark, the private photo and video sharing service. Prior to founding Sidebark, he was a leader in Bain & Company's digital media practice. How much more valuable do you think Facebook is than Yahoo? Let's say I gave you 1% of Facebook's stock. How much of Yahoo would I have to give you to part with that share? 5%? 10%? More? (Or would you just move to Singapore and renounce your U.S. citizenship?) What about Google stock? Would you make a 1% for 1% trade? What about 0.5% of Google for your 1% Facebook stake? Well here's what the stock market thinks: Based on market cap, Facebook is closer in value to Yahoo than it is to Google. After sliding under $20 per share, just two and a half months after going public at $38, Facebook's market cap hit $45B, closer to Yahoo's $20B than Google's $210B.
Aug 12, 1:16AM
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In July, Facebook rolled out a new
"seen by" feature for groups, which let people know who has seen a post or announcement in that group, and when. And, although Facebook didn't make much of a
song and dance about it at the time, it looks like it is actually offering this feature on photos, too. As you can see in the screenshot below, the "seen by" feature in photos works just like the "seen by" feature for other group posts: someone who posts a photo to a group can see how many people in that group have viewed it, who those people are, and what time it was that they viewed the photo. And that information is not exclusive just to the poster, either -- others in the group can see who viewed a particular picture, too.
Aug 11, 10:30PM
Editor's note: Adam Rifkin is co-founder and CEO of PandaWhale, an online network of interesting things and people. He has never owned Facebook or Zynga shares. . You can follow him @ifindkarma. Facebook and Zynga have experienced similar roller coaster-like devaluation from their peak stock valuations, and they've been
partners for years, which is why MarkZ and MarkP often get lumped together in the same sentence by fearful investors whose stock is underwater: "Facebook and Zynga (insert analysis here)." Such bundling masks a deeper structural truth. The reasons that the two companies have tanked in the market could not be more divergent, and more indicative of the character and strategic vision of the startups' respective founders. Forget any analysis that lumps the two companies together, and instead find lessons in
Aesop's fable that are important to every startup founder.
Aug 11, 8:33PM
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It's not often you get to interview a nuclear engineer and a physician who run a tiny vaporizer factory out of an oversized garage outside of San Francisco so today is your lucky day. Two weeks ago we spent some time with the guys from
Themovape, a homegrown, self-funded hardware company that just happens to produce some of the coolest and most effective vaporizers I've seen. For the uninitiated, the product is called the Thermo Essence Thermovape, a smoking cessation tool and "botanical vaporizer." It's designed for vaporizing the essentials out of botanicals like pot and tobacco as well as and oils. It's not smoking - the convection vaporizer pulls everything important out of the materials, leaving behind desiccated leaves.
Aug 11, 7:11PM
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Just as the tech press was
busy talking about
the first academic paper on acqui-hires, another acqui-hire deal closed, with online ad company
AppNexus acquiring fantasy sports startup
Fantuition. Co-founder and CEO Pat McCarty announced the deal in
a blog post that also recounts some of Fantuition's history and discusses McCarty's feelings about being acqui-hired (or, as he spells it, "acqhired", because no one can agree on the spelling of this awkward, awkward word) — in other words, getting acquired by another company just so that they can hire your team, while your product gets shut down.
Aug 11, 7:00PM
Editor's note: Paul Pfleiderer is the C.O.G. Miller Distinguished Professor of Finance at the Stanford Graduate School of Business and co-founder of Quantal International. A few weeks ago, TechCrunch published a piece arguing software is better at investing than 99% of human investment advisors. That post, titled
Thankfully, Software Is Eating The Personal Investing World, pointed out the advantages of engineering-driven software solutions versus emotionally driven human judgment. Perhaps not surprisingly, some commenters (including some financial advisors) seized the moment to call into question one of the foundations of software-based investing, Modern Portfolio Theory. Given the doubts raised by a small but vocal chorus, it's worth spending some time to ask if we need a new investing paradigm and if so, what it should be. Answering that question helps show why MPT still is the best investment methodology out there; it enables the automated, low-cost investment management offered by a new wave of Internet startups including Wealthfront (which I advise), Personal Capital, Future Advisor and SigFig.
Aug 11, 6:00PM
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Keeping things spicy in the bedroom can be tricky. Maybe you exhausted all your tricks early on in the game, or perhaps the sheer exhaustion that comes with balancing kids, a home and your work has taken its toll. But fear not, lovers of the world, for a new startup has entered the scene that may be the answer to your sexy prayers. It's called
Dejamor, and it originally started out as an app. But once founder Rodrigo Fuentes realized that the engagement and input required with an app was only adding work to people's lives, he realized a subscription service was a better fit. Dejamor sends you a box every month with all the ingredients for a special, romantic moment with your significant other, and instructions to make sure you don't screw it up. It's as simple as that. Think
Boinkbox, but classier. And for couples.
Aug 11, 4:26PM
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The undercurrent of the Vanity Fair analysis is that the toxic anti-innovation culture of the company trumps even Bill Gates' unlikely return to the throne. Unlike a salesforce.com where each passing day engenders innovation as a way of validating the subscription model, Microsoft is a victim of its own success at the hands of its most successful. According to the article, executives withhold just enough vital information to maintain their own position of unique value. Where social is a requirement in a system that lives on innovation, Microsoft is forced to go against the grain to share in realtime.
Aug 11, 4:00PM
Ecco Pro, a much beloved outliner and personal information management application for Windows was discontinued about 15 years ago. But you can still download it and run it on Windows 7 today thanks to the efforts of a handful of volunteers. Even though the software isn't open source a few devotees have continued modding it and keeping it current for modern operating systems. They say that no modern application has yet replicated its functionality. Another piece of software with longevity is Eudora, which as of 2009 was still in use by Steve Wozniak as per
an interview with Lifehacker. Wozniak didn't say which version he's using, but since he says it's been discontinued, I assume he's using
Eudora 6.2.4 or earlier, not the newer Thunderbird based
Open Source Edition. I've heard of people using versions as old as 3. They say they can still do stuff with it they just can't do with anything else. If these were web applications, what are the odds people would still be using them today, more than a decade after they were officially discontinued? And are there any new web applications out today that are so good that 15 years from now users will still be clinging to them?
Aug 11, 3:00PM
Editor's note: Jay Jamison is a Partner at BlueRun Ventures where he focuses on early stage mobile and consumer opportunities. You can read more of his analysis on startups and Silicon Valley at his blog jayjamison.com and you can follow him on Twitter at @jay_jamison. The highest flying of internet high-flyers, Facebook and Zynga, were laid low last week in public markets on weaker than expected guidance on their paths forward. What a difference public market scrutiny and forward-looking forecasts can make. Given the size, scope and importance of these two companies to the broader technology ecosystem, it's worth analyzing what these reports might mean for industry trends. According to Wall Street analysts, Zynga had a "dreadful" Q2 report. Several negatives converged to deliver an egg, reported the
New York Times:
Aug 11, 1:00PM
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It's a potential "
doomsday machine." It's "
quite literally out of control." Hedge fund
managers and Nobel
winners say it should be banned. Others
insist it should at least be
regulated. Its practitioners are "
parasites." Mark Cuban says they are "
the ultimate hackers," who "scared the hell out of me." Last week they wiped out
$440 million of Knight Capital's capital. Earlier this year they
messed up Facebook's IPO. A couple of years ago they caused the Dow's 1,000-point
flash crash. And everyone's horrified by
that GIF making the rounds. Yes, it's the
bête noire to end all
bête noires;
high-frequency trading. The only problem here is that I don't really see the problem.
Aug 11, 5:00AM
Editor's note: John Greathouse is a general partner at Rincon Venture Partners and has held a number of senior executive positions with successful startups during the past fifteen years, including Computer Motion, Citrix Online and CallWave which collectively created in excess of $350M in shareholder value. You can follow him @johngreathouse. You can also check his blog for emerging entrepreneurs here. Successful Olympic athletes share a number of common qualities with entrepreneurs; including boundless energy, uncompromising tenacity and a willingness to innovate. Such innovations include new training routines, inventive diets and novel, gameplay tactics. Entrepreneurs are well served to pay particular attention to two of the most innovative Olympic athletes: Dick Fosbury and David Berkoff, the former of which I discuss in the following 2-minute video.
Aug 11, 1:30AM
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Less than a month after taking over Yahoo,
Marissa Mayer is already sending strong signals of leadership to investors. Yet, the announcement of a new financial strategy led to a 5.37 percent downturn of YHOO today as the company played down dividend expectations. Yahoo filed with the Securities and Exchange Commission that the strategy review "may lead to a re-evaluation of, or changes to, our current plans."
Aug 11, 12:33AM
InsideSales.com has raised $4 million from
Hummer Winblad in a Series A Round that the company will use to grow its big data analytics sales force automation (SFO) technology. Joining in the round were Josh James, co-founder and former CEO of
Omniture. Mark Gorenberg, managing director, Hummer Winblad, said before the funding, the company was profitable and had not taken any investment. He said the company reminds him of Omniture, which the firm funded under similar circumstances. Omniture was also profitable when it accepted its investment. Omniture was acquired for $1.8 billion in 2009 by Adobe Systems. InsideSales serves small and medium sized companies. It uses predictive analytics to help serve inside sales professionals. Its algorithms are designed to tell the sales professional who to contact, when to contact and how to tailor the message for the sales target.
Aug 10, 11:07PM
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It's a strange thing to hear from the co-founder and CEO of a photo startup, but
DMD Panorama's Elie-Gregoire Khoury tells me that panoramic photos will become "a commodity at the end of the day." That doesn't mean it's time to get out of the photo business — instead, Khoury wants to see panoramas become a standard feature in a wide range of websites and apps, the way that regular photos are now. And if Khoury has his way, that will all happen through DMD's new API.
Aug 10, 11:01PM
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I need to lighten things up a bit with all this Oracle brouhaha. Oracle acquired Xsigo recently. I wrote about the acquisition and how Oracle will lose as IT gets virtualized. Oracle's Bob Evans came back with his own s
pecial brand of attack. Yesterday I responded with my post:
Open? Yeah, Sure. Sorry Oracle, You're Still Full Of It.
Aug 10, 10:46PM
BranchOut is known as one of the bigger success stories for startups building on top of Facebook. The company, which makes a professional social network that runs on Facebook, has raised nearly
$50 million in venture capital and attracted 30 million users in the two years since it
made its debut. So it was great to have the chance to pull aside BranchOut CEO Rick Marini at the Facebook Ecosystem CrunchUp TechCrunch hosted a week ago to get his "dos and don'ts" he's learned while building his company. Watch the video above to see our full interview, and below I've excerpted a couple of his insights:
Aug 10, 10:14PM
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A little over a year ago, cloud communications company
Twilio launched Short Codes, dedicated 5 or 6 digit numbers for sending and receiving text messages at volume. Since then, Twilio has become the fastest-growing short code provider and has found surprisingly differing uses for its product. "People have started using our Short Code product in ways we didn't ever expect," Patrick Malatack, the product manager in charge of Short Codes, tells me.
Aug 10, 8:37PM
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RIM is about to layoff more employees in an ongoing effort to cut $1 billion by 2013. According to
one report, as many as 3,000 RIM staffers could get the boot as soon as next week. However, RIM has not confirmed this as of yet. RIM's Global Corporate Communications Manager spoke to TechCrunch this afternoon and confirmed there are more layoffs on the horizon. She went on to explain that the company is "moving quickly for the impacted employees." As RIM
communicated earlier, the company plans to eliminate 5,000 positions within the current financial quarter. While RIM hasn't pointed out affected departments and regions, it seems those working on BlackBerry 10 are safe -- well, at least for now.
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