tag:blogger.com,1999:blog-42660967325411816202024-02-06T21:01:31.826-05:00Cyberposium 2014 | November 1, 2014 | Harvard Business SchoolLilly Denghttp://www.blogger.com/profile/10465239920262209644noreply@blogger.comBlogger75125tag:blogger.com,1999:blog-4266096732541181620.post-5467031337765207072014-11-01T18:09:00.001-04:002014-11-01T18:09:26.767-04:00HBS Bitcoin Panel<div dir="ltr" style="text-align: left;" trbidi="on">
The HBS Bitcoin Club kicked off its first organised event with the Bitcoin Panel at Cyberposium 2014. The panel represented a broad cross-section of players within the Bitcoin ecosystem resulting in a good debate that was described as "off the (block)chain". Panelists included Adam Draper (Boost VC), Jeremy Allaire (Circle) and Adam Ludwin (Chain). HBS Professor Andrei Hagiu, who authored the first HBS case on Bitcoin, moderated the discussion.<br />
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We started by asking where the bigger opportunities were in Bitcoin; infrastructure, merchants or consumers. The answer: all three. The general view was that Bitcoin is still very early in its development. Adam Draper commented "Bitcoin 2.0? We aren't even at Bitcoin 0.2". Moreover, parallel development of all parts of the Bitcoin ecosystem were important for mass adoption - which at this time, panelists concurred, is more important than picking the correct part of the value chain. It was noted, however, that infrastructure businesses currently have an attractive business model, given they can be profitable from day one. In contrast, consumer applications may hold much of the value longer term.<br />
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Adam Ludwin then talked about Bitcoin as the "most interdisciplinary field out there" encompassing finance, economics, technology, government and more. It was an explicit call for MBA's who may be attracted to this type of faculty. (Aside: All three companies are hiring). Not only is Bitcoin interdisciplinary, it is truly global. The discussion shifted to the potential global applications that Bitcoin promises such as remittances. Adam Draper said the "US is the worst place that Bitcoin could have taken off because 93% of our payments are already digital." The discussion centered around how Bitcoin, or more accurately the distributed, open ledger known as the blockchain could modernise the "piping" of our financial system. Ludwin explained "If you invented money today, you would invent Bitcoin." Jeremy Allaire articulated the real power of Bitcoin as a protocol akin to HTTP for the internet. He envisioned blockchain technology being deployed to replace not only the localised national ledgers, but also the payments system that currently connect them. Allaire's vision of the future: "The cost of moving value internationally will drop to 0". (We hope so too).<br />
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We discussed briefly some other applications that could be powered by blockchain technology including smart contracts and equity raising. In fact, panelists agreed that much of what "Wall St" and law firms currently do could be disrupted by Bitcoin in some form. Regulation was also discussed briefly, with Allaire saying he was "relatively positive" on the state and engagement of regulators. He also mentioned that he viewed his own bank as his "principal regulator" given their strict adherence to the current rules. In addition, the favourite comment about Bitcoin volatility was discussed and highlighted as a major impediment to adoption.<br />
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Overall, there was immense optimism about Bitcoin and its future potential (albeit at least 5 years away). It was clear many challenges still remain - the protocol itself, consumer adoption, regulation, volatility and many more not discussed. Panelists viewed these challenges as fixable and just "opportunities to create companies" rather than existential threats to Bitcoin as we know it. They are all staking their careers on Bitcoin and left the audience a lingering question: Should we too?<br />
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-Rahil Gupta<br />
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Note:<br />
The HBS Bitcoin Club is now an official club at HBS. We aim to be the center of everything Bitcoin at Harvard. Please get in touch with Daniel Vogel (dvogel@mba2015.hbs.edu), Hassen Abdu (habdu@mba2015.hbs.edu) or Rahil Gupta (ragupta@mba2015.hbs.edu) for further information.<br />
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Anonymoushttp://www.blogger.com/profile/05727653461823677482noreply@blogger.com2tag:blogger.com,1999:blog-4266096732541181620.post-88710351824943655082014-11-01T17:01:00.005-04:002014-11-01T17:01:51.783-04:00Education Technology Panel<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgP8QX42A761sAjd0wNXl4_xUa7h_YOjiaqt6rsOfvlVU0qt02MumYnE3eGIMHvd9jYvMhcey6Dw1Amd7n5Id6eYlS8I_qARKIyJoRy7Su6HnLgyFCzTmNJFTXpwjI2O2QbVPGAoScBmk/s1600/IMG_20141101_153446.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgP8QX42A761sAjd0wNXl4_xUa7h_YOjiaqt6rsOfvlVU0qt02MumYnE3eGIMHvd9jYvMhcey6Dw1Amd7n5Id6eYlS8I_qARKIyJoRy7Su6HnLgyFCzTmNJFTXpwjI2O2QbVPGAoScBmk/s1600/IMG_20141101_153446.jpg" height="300" width="400" /></a></div>
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<b>Panelists</b></div>
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<li>Marissa Lowman - <a href="http://learnlaunch.com/">LearnLaunch Institute</a></li>
<li>Dan Winkler - <a href="http://www.mimio.com/">Mimio</a></li>
<li>Kin Lo - <a href="http://www.kaymbu.com/">Kaymbu</a></li>
<li>Kimberly Steadman - <a href="http://www.ebrooke.org/">Edward Brooke Charter School</a></li>
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<b>What tools are particular effective? Where are there rooms to grow?</b></div>
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<li>Marissa: We've funded ~250 startups in Boston area and have seen a lot of growth in really niche area, for example, classroom management or grading papers. For example, one startup, Gradeable, allows students get feedback faster within a day rather than weeks. Most successful companies have teacher support, if they haven’t piloted in a classroom, they don’t know the challenges. </li>
<li>Dan: Hardware is a way to get points across, most effective solution in special needs classroom, interactive hardware system like interactive whiteboards. In one particular pilot, kids were laser focused on the hardware product. Hardware only works when given to teachers with the right training and uses it the right way with the right support. </li>
<li>Kin: Kaymbu focuses in preschool. The most effective technologies, hardware or software, are those that help teachers do what they do better. Teachers are pretty good at what they do. Don’t transform, focus on enabling teachers that do things better, faster, easier. In EdTech, nondisruptive is a good thing. Technologies that integrate very easily, rather than revolutionize the dynamics of the classroom, are the most effective.</li>
<li>Kimberly: EdTech is taking up a lot of airspace in education, and are misguided. It's taking a lot of talent and a lot of funding, where people are trying to make money off of schools. I don’t believe that. I don’t think anything will make a big change in education. Education is the business of developing human capital, and human capital is developed in person. For teachers, they need to believe in their own vision and authority and lead their kids to there. They need to interact with parents and kids as much as necessary to get there. There's no screen or app to help you do that that will actually be transformative. Deep rich education that make school betters needs to develop the teachers. The technology that we use are for general audience, not specific for schools (e.g. Google Docs). One exception: Coding websites that help teachers to teach that to kids in K-12. Most other things are actually distracters of time and talent and resources. </li>
<li>Dan: The situation to avoid is one where the Technology Coordinator of the district say, here’s your technology, use it. That’s a failed way of using technology. Alternatively, here’s a budget for each school, and the teachers go out to find the technology, and they pitch them to the school board to buy for the school.</li>
<li>Kin: While I agree with Kimberly, there are tools that can make teachers more effective and communicate better.</li>
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<b>On the next big change in EdTech</b></div>
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<li>Marisa: There will be more ability for teachers to experiment with new tools as wifi access increase in the classroom. Focus on experiential learning/group learning rather than having teachers standing in the front. </li>
<li>Dan: Biggest opportunity and challenges is the Keep It Simple rule. Make it frictionless, part of people’s lives. The more interesting is way for kids who are ahead or behind can continue their learning or catch up at their own pace.</li>
<li>Kin: Most excited about are bringing more people into the fold. Family and advocates, technology can play a role.</li>
<li>Kimberly: Technology can’t replace the human relationships. Our K-8 schools, almost all of our children live in poverty, almost all will be first generation in their family to go to college. We need to be teaching kids to interact, don’t put a screen between them. They need to interact with each other, learn from each other. I visited a high school who implemented technology fully. Their feedback: This is great because I am not as held back by the other kids. Self-centered, self-driven things, doesn’t recognition the social skill of learning from others. Most of our technologies are coming from a collaborative process. Making sure we only have one laptop with every 2-4 kids. We don’t want one device per child. The most promising: Massive portions of the world don’t have access to this technology yet.</li>
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<b>Q&A</b></div>
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<li><i>Most exciting EdTech startup?</i></li>
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<li>Marissa - Tiggly, physical product focused on early learning; it's a toy that you use with iPad. It combine shapes and numbers with iPad games in a blended learning model. There's a lot of startups that are combining the physical and the digital.</li>
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<li><i>What would you need to see to believe a truly disruptive technology in education? </i></li>
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<li>I would need to show actual data in a large school. That there are actually student outcome, that actually proves it. </li>
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<li><i>With the growth of online learning platforms, will alternative education complete overtake classroom learning?</i></li>
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<li>The math lectures on Khan Academy are are actually a lot closer to lecture/problem set process. So students never have to differentiate between the situations when learning the concepts. They ask you to master this concept, and then they test you on it. We ask kids to tackle a problem they've never seen, and figure out which math concepts they need to solve the problem. That’s not what you can do with the current online offerings.</li>
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<li><i>Are needs different in poor and affluent community’s school?</i></li>
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<li>If you feel like you have a product that’s going to benefit students, you want to make it available. The selling process in K-12 is so nebulous and it’s a really hard decision on how to allocate resources. More of the affluent schools are open to ideas. The affluent district wants more data. Selling to MA is different from CA (where per capita education expenditure is much lower low). </li>
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<li><i>Emerging markets like Africa and India, there’s a major paucity of good teachers are rural/low-income schools. What kind of technology do you think will help bridge this cap?</i></li>
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<li>EdX — universities that provide their courses for free, open sourcing their education. I don’t think they will ever replace working around people. If you’re not working with people when you’re going to school, you’re not gonna have the social skills for your job. </li>
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<li><i>Are Interactive Whiteboards really not beneficial?</i></li>
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<li>Kimberly: Don’t see any reason we need. It's better if students write their own solutions to problems and work together as a group. In that case, the board just a distractor. Best math class: Went through 2 of 3 problems. He was not teaching them and they learned from each other. Similar to the working world, any bosses that are great took the time to talk to you a lot, and invested in you a lot.</li>
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<b>Summary</b></div>
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<li>Marissa — As you’re thinking about EdTech startups, really talk to the potential users of your product, and what their challenges ares, test the product with all those users. If you just make assumptions based on your former assumptions, they can be faulty assumptions.</li>
<li>Dan — User tests, figure out what problem actually exist in the classroom? As far as advice of building technology in general, focus on watching them, then you can improve that problem. Improve that process. Sometimes, it's just one UI/UX change. </li>
<li>Kin — It is a very noisy space, because there's lots of stuff out there. Interesting to note is the gap between the user and the purchase decision maker in EdTech. The products that are pushed down from the city level are the most appeal to VCs because you can sell a lot of it.</li>
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<br />Unknownhttp://www.blogger.com/profile/08871103596477467023noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-30440402699567070892014-11-01T16:43:00.004-04:002014-11-01T16:43:21.483-04:00Changing Structure of Venture Capital<b><u>Changing Structure of Venture Capital</u></b><br />
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-right: -22.5pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="vertical-align: baseline;">For our panel, “The Changing Structure of Venture” we’ll be looking at trends and observations on the venture ecosystem quite broadly (LP trends, funding trends, etc). Gaurav will be helping moderate the panel and we'll be piecing together some insights and perspective on the venture industry.</span></span></div>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="vertical-align: baseline;"><b><br /></b></span></span></div>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="vertical-align: baseline;"><b>Moderator:</b></span></span></div>
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<li><span style="font-family: Arial; font-size: 15px; line-height: 1.15; white-space: pre-wrap;"><i>Gaurav Jain (Founder Collective)</i></span></li>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b>Speakers:</b></span></div>
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<li><span style="line-height: 1.15;"><i>Andy Macey (Common Angels)</i></span></li>
<li><span style="line-height: 1.15;"><i>Neil Chedda (Romulus)</i></span></li>
<li><span style="line-height: 1.15;"><i>Kyle Lui (DCM)</i></span></li>
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<b>Some Notable Quotes and Perspectives:</b></div>
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<li><i>On VC Firm Partner Composition</i>: </li>
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<li>"We've seen dynamics change of those entering the industry -- the venture partner composition is finally beginning to come around to non-anglo-middle-aged-men to reflect the diversity and perspective of a great new generation of entrepreneurs" - Andy</li>
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<li><i>On getting into VC:</i></li>
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<li>"Right out of b-school, potentially the best thing for the firm and yourself is to go start a company. Join something if you don't want to start that thing yourself." - Kyle</li>
<li>"Some MBA's dont know the difference between confidence and arrogance" - Andy</li>
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<li><i>On a career in VC:</i></li>
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<li>"VC is not a great career, but it is an incredible obsession. Truth is, is that most people don't make it." - Neil</li>
<li>"Some people see it as a career that is less risky, but the reality is that you only get to cut so many checks, and you're only as good as your last deal." - Neil</li>
<li>"When it comes time to cut a check, it becomes valuable to know you've been there before, and what they are going through" - Neil</li>
<li>"The greatest joy of venture is watching a company grow from something small to a big company." - Andy</li>
<li>"It's not just a one time decision, often the company isn't going anywhere and they are out of capital." - Kyle</li>
</ul>
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<li><i>On deal selection: </i></li>
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<li>"I'm constantly asking: Why you? Why Now?" - Neil </li>
<li>"No soccer team needs 11 strikers [MBAs], there is so much value in diversity" - Andy</li>
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<br />Anonymoushttp://www.blogger.com/profile/07112829577619482053noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-62453743904794308782014-11-01T15:25:00.002-04:002014-11-01T15:25:14.017-04:00HBS Founders Panel<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
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<li><span style="background-color: white; line-height: 26.3999996185303px;"><span style="font-family: Arial, Helvetica, sans-serif;"><b>Moderator: </b>Howard Bornstein (BCV)</span></span></li>
<li><span style="background-color: white; line-height: 26.3999996185303px;"><span style="font-family: Arial, Helvetica, sans-serif;"><b>Panelists: </b>Joris Poort (Rescale), Brent Grinna (Evertrue), Phil Kim (Bundle, Capital One), Louis Beryl (Earnest)</span></span></li>
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<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><b>Panelists by the Numbers</b></span></div>
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<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">100% of panelists started a company directly out of HBS</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">75% of panelists started a company while at HBS</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">50% of panelists raised their first capital pre-revenue</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">75% of panelists raised non-institutional capital for the first round</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">100% of panelists have cofounders now; 50% had that cofounder at the time of idea generation</span></span></li>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>Fundraising by the Numbers</b></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><i>How much time did you spend raising your first round? How many conversations did you have? How much did you raise? </i></span></span></div>
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<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: Spent a few months, 50-60 pitches in ~2013</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: Spent 2 weeks (via Y Combinator) Raised $3M in the first round, >100 pitches</span></span></li>
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<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">The more you commit your time to fundraising 100%, you can condense your time spent fundraising and reduce the amount of time you're not making progress on the business via distraction</span></span></li>
</ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: Spent 18 months, $1.3M in a seed in 2010-2011</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: Spent 2 years raising money from strategic partners in 2009</span></span></li>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>The decision to start</b></span></span></div>
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<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: We spend more time trying to talk ourselves out of ideas than into it - when I woke up in the morning and realized that was all I wanted to do was work on my idea, that's when I knew it was time to officially transition. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: I've always been an entrepreneur in that I loved building things, especially technology. I came to HBS to "reset" after I realized that I wasn't doing what I wanted to be doing as a consultant. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: Didn't spend time on entrepreneurship while at HBS, and "accidentally" founded my company. Didn't realize it was a good plan until a judge at a business plan competition offered to invest. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: If you can be rejected by 100+ investors and you still think it's obvious that the company needs to get built, it's a good sign. </span></span></li>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>Customer development plans</b></span></span></div>
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<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: We frequently get focused on our ideas and it's usually linked to the problem space you've experienced. I wish in hindsight we'd spent more time trying to understand our problem, interviewing more customers in the space. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: Being your own customer is great in that you can understand your problem best and really dig into it. The best example is how Optimizely started -- selling the product to a customer and validating the market before even building it. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: I tried to solve the problem for myself when we were smaller; now that we're bigger, we're able to spend more time on the customer development side. You've got to be testing a hypothesis that's actually relevant. You have to really make sure you're not just running tests to validate your own opinions or what you believe to be true. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: I've made so many mistakes where we haven't exercised enough judgment. There are lots of ways to do customer development, but building something exclusively for yourself will only work if you want yourself to be the only customer. You have to exercise great judgement continually while trusting your own gut and that of the people you've hired. </span></span></li>
</ul>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>Choosing cofounders</b></span></span></div>
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<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: The first sales process was less about selling customers than it was about recruiting employees. The relationship that you have with those employees (specifically your cofounder) is important; you'll see them more than your loved ones. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: I think of my cofounder like my brother; there are things that drive us crazy about each other, but we're really complimentary. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: I was looking constantly for a CTO; I was going to every developer meetup in Boston, but it finally worked. Statistically, that is not what most people would recommend you do. But if you don't have the long-term relationship with a cofounder, it's still doable. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: Trust and alignment of values is really important, as is a passion for the product itself. I ended up hiring my brother as my cofounder. </span></span></li>
</ul>
<div>
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>Biggest challenges</b></span></span></div>
</div>
<div>
<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: About 2 years into Bundle, I realized that we weren't on the right path. We did more research and evaluated another path, and when we presented it to the board, they didn't agree with the path. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: My low point was probably when I was meeting with an investor who looked me in the eye and told me "This isn't fundable." </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: I had about an 8-month low point where I couldn't raise money, and had to live on ramen and watch my classmates take high-paying jobs. The true lowest point was when I had to fire an employee, someone who was a classmate at HBS. We often simplify at HBS the complexity that's required in personnel decisions. It's the hardest thing you'll do. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: The psychology of founding a business is intense in terms of the ups and downs. One of the strongest qualities that an entrepreneur needs to have is perseverance. You have to be ready for a lot of "No"s relative to the "Yes"s. </span></span></li>
</ul>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>High points of being a Founder/CEO</b></span></span></div>
</div>
<div>
<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: I love sitting in product development meetings when you realize that you're going to birth a product that people want </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: Seeing customers use your product in ways that you couldn't necessarily have imagined is a great feeling. </span></span></li>
</ul>
<div>
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;"><b>Fundraising: The benefits of outside money</b></span></span></div>
</div>
<div>
<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Louis: VCs were useful outside just sources of capital. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Joris: VCs are the most expensive source of capital that you can get, so alternatives are always desirable if you simplify it down to the cost of money. There are specific VCs who can be helpful, though. The most useful resource for me was other founders who were a little bit beyond where I was. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Brent: We spent the first few years with angel funding and bootstrapping, and bringing on BCV has been very helpful. </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">Phil: In finding the right partners in my next venture, I would bring on the best people with capital. Even if you have all the capital in the world, you may not have the resources, connections, etc. that you need. </span></span></li>
</ul>
</div>
k.c.younghttp://www.blogger.com/profile/05629864637379439909noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-15833490640509237822014-11-01T14:50:00.003-04:002014-11-01T14:50:35.708-04:00Highlights from Sam Altman Presentation: On MBAs, YC, and the Startup Ecosystem<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><u>Great Presentation / Q&A from Sam Altman from YC</u></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieSlLbIWQstSOZoVj59CPPYwQImbntss9H3DpT3Q2AlIAHjZ8kEbxPbuXf-2WrRC7TsmYoLTEr1YxJ9w2NJla9uF11HAlY94JzUzCCPKXp16OU80FiU5AVCrITaDRvnxQX3a6zVLCPVyA/s1600/photo+(11).JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieSlLbIWQstSOZoVj59CPPYwQImbntss9H3DpT3Q2AlIAHjZ8kEbxPbuXf-2WrRC7TsmYoLTEr1YxJ9w2NJla9uF11HAlY94JzUzCCPKXp16OU80FiU5AVCrITaDRvnxQX3a6zVLCPVyA/s1600/photo+(11).JPG" height="320" width="240" /></a></div>
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<b><u>Highlights of the discussion: </u></b></div>
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<u><i>On MBAs</i></u></div>
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Many MBAs struggle to succeed in launching startups because they are not passionate about the idea. Instead, they do it because startups are the cool thing to do. Successful founders have to be passionate about the idea, because success is driven by building a product that small number of people deeply love and then expanding from there. So, if you are thinking about starting a startup because it's fashionable - don't, you will fail. </div>
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When MBAs apply to YC and indicate that they are only willing to work on the idea full-time if YC accepts them, then that's a pretty good indication that the passion is not there.The MBAs YC funded that have been the most successful either dropped out of business school because they were so passionate about the idea, or they worked in a specific industry for a few years after business school and really understood it in depth. </div>
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For many MBAs, however, the best time to join a startup is when it hits the upward sloping part of a hyper growth curve. When a company needs to build out its organization and scale, then MBAs can have a huge impact in Biz Dev, Finance, Marketing, etc. And working at a fast growing startup is one of the most valuable things you can do. </div>
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<u><i>On YC</i></u></div>
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YC gives many companies a little money, and then gives them a lot of advice about what to do. In particular, YC advice tends to focus on product and growth, though over time they've also developed expertise in building a team and raising money. More than anything though, YC provides access to other YC companies, which Sam considers the strongest network in Silicon Valley.</div>
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When looking at YC applications, the most important thing is for founders to clearly indicate how they and their company are special in a few easy to understand, impactful sentences. YC has found that people who can't communicate their ideas effectively are bad at running startups, and YC will choose not to accept companies because the presentation wasn't succinct and powerful.</div>
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YC will even take chances and fund ideas that seem seem "out there" at the time, as long as the founders can communicate the problem/vision in a compelling manner. When Airbnb's founders indicated that people's homes are the largest untapped asset in the world, it was a powerful statement. YC thought the idea was crazy at the time, but the opportunity was expressed in such a compelling manner that it was worth a shot.</div>
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<u><i>On the Startup Ecosystem</i></u></div>
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Many people ask whether we are in a bubble. Maybe, but the difference
between the 2000 bubble and now is that today's companies have real revenue. Areas where Sam (and presumably YC) are particularly excited about include Energy, Biotech,
Healthcare, AI, Internet communities.</div>
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Aaronhttp://www.blogger.com/profile/12383600307653479110noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-10570006553919285042014-11-01T12:54:00.000-04:002014-11-02T09:21:52.664-05:00Matt Wallach: A dozen lessons learned<div dir="ltr" style="text-align: left;" trbidi="on">
A dozen lessons learned from Matt Wallach's journey from the Whiteboard to IPO:<br />
<br />
1. When you agree with someone who is very different from you, you have a higher chance of being right<br />
2. The vision trumps the polish<br />
3. Your values are how you achieve your vision<br />
4. Do the right thing is before your vision and values... Get your moral compass right, would your mother approve of what you are doing?<br />
5. Focus on customer success not customer satisfaction<br />
6. Stay focused, don't get distracted by shiny opportunities<br />
7. Don't overspend... Be smart and efficient with your spending. Senior people come to build orgs and spend money, don't hire them until you need to<br />
8. Pricing: it is the difference between survival and failure... Important from the beginning<br />
9. Hire A players, they won't fight with each other, they will attract other A players<br />
10. Don't spend all your time at business school looking for a job, you are here looking for a career not a job<br />
11. Don't be a competitive jerk but don't be a slacker either... People will remember both<br />
12. Spend real quality time with your classmates<br />
<br />
If you are not having fun at business school... You are blowing it<br />
<br />
<br /></div>
Fantastichttp://www.blogger.com/profile/12796972608878753422noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-65059690609246915232014-11-01T12:21:00.002-04:002014-11-01T12:22:02.864-04:00Big Data: From Hype to Value<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwSbQ57v8IBMtLpGJkKrb7Mg61JvfZDnsVax2xb6QjwgSAYT1w1QItOxMAxwW3kZjElXrSl8Btwf-ze0FfsWFMMDfrQpP2LJH7IPQhj4CXgdx5nbbmORVwlbEPJMAQqm-zEy0Ha5vwPPiT/s1600/datapanel.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwSbQ57v8IBMtLpGJkKrb7Mg61JvfZDnsVax2xb6QjwgSAYT1w1QItOxMAxwW3kZjElXrSl8Btwf-ze0FfsWFMMDfrQpP2LJH7IPQhj4CXgdx5nbbmORVwlbEPJMAQqm-zEy0Ha5vwPPiT/s1600/datapanel.jpg" height="172" width="400" /></a></div>
<div dir="ltr" style="background-color: white; color: #666666; font-family: Helvetica, serif; font-size: 16px; line-height: 26.3999996185303px; margin-bottom: 1em; margin-top: 0em;">
<span style="font-size: 14px;"><em><br /></em></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<em><span style="color: #666666; font-family: "Helvetica","sans-serif"; font-size: 10.5pt;">Do you think ‘big data’ is
over-hyped? Are you tired of hearing about its potential and want to know how
it affects the bottom-line? </span></em><i><span style="color: #666666; font-family: "Helvetica","sans-serif"; font-size: 10.5pt;">Will Hayes (CEO,
Lucidworks), Phil Kim (Cap One), Michael Morrison (CEO, Datawatch), Adam Towvim
(CEO, Trust Layers)<em> share
their perspectives on how companies are deriving value from big data today,
moderated by </em>Andrew Burton (CEO, Logentries).</span></i><span style="color: #666666; font-family: "Helvetica","sans-serif";"><o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin: 0cm 0cm 12pt;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">As the panel
traversed topics ranging from hiring practices in big data to data governance
and protection, there was one major reoccurring theme: big data is not the same
as the big answer. As Adam Towvin eloquently put it, “sometimes it’s not about
finding the needle, it’s about building the right the right haystack.”<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Much of the reason that big data as a field feels like hype is
because of the ways it’s being described as a way to find answers and solutions
for a huge range of previously unsolved challenges – and those answers have not
been forthcoming since “data science” became an industry buzzword.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">But as our panellists today have outlined, that’s partially
because of the way big data is being misinterpreted and partially because of
limitations in data usage and lack of expertise in the field.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Will Hayes kicked things off reminding us, "don't get
infatuated with technology, get infatuated with results,” a sentiment echoed by
the rest of the panel. Phil Kim agreed that big data is in stage where people
don’t understand what it is and how it can be used – and although there are
great tools for extracting value from data, people aren’t always sure on how to
use them.<o:p></o:p></span></div>
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<span style="color: #666666; font-family: "Helvetica","sans-serif";">The biggest benefit
of big data at the moment, said Towvin, is that data helps companies innovate
faster and improve business in ways it was impossible to do before.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Andrew Burton turned the panel to the question of how “offensive
or defensive” data should be in bringing data science practices to other parts
of the business. <o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">While the group agreed that an offensive approach was important
for educating others about the value and limitations of big data, as well as formulating
questions and helping customer-facing teams build better products, there was
some discussion of the tension that other departments (particularly legal)
might feel when large pools of data across the company are thrown together and
leveraged in this way. <o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">When it came to data governance and protection, the panel
acknowledged the importance of protecting data but Towvin in particular felt
the aggressive ways in which data was encrypted and hidden away undermined
those data true potential. While protection was important, there is a sense we
are selling customer short by using that data to make better decisions in areas
ranging from health to consumer products to personal finances. Kim highlighted
Capital One’s practice of putting risk management and marketing teams in the
same room so that they can jointly solve problems of how to protect and use
data effectively at the same time.<o:p></o:p></span></div>
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<span style="color: #666666; font-family: "Helvetica","sans-serif";">The audience was curious about how to prevent people from
confusing correlation and causation – a challenge the panellists admitted is
almost impossible to solve. Their solution? Hire the right people, experts with
deep insights to help them avoid these biases.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Of course this naturally led to a discussion of how to build the
right team and make the right hires for the field. Kim explained the challenges
he faced explaining to hiring departments what a data scientist actually was,
but all of the panellists agreed that the most important trait for a data
scientist was a deep intellectual curiosity, as well as scientific yet creative
mind that can absorb the quantitative challenges of big data while still
looking for interesting patterns.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Fortunately for the students in the room, Michael Morrison spoke
to the need of these big data companies and teams to hire “the next generation.”
He pointed out that many of these companies need to do as much to market
themselves to talent as candidates need to do to market themselves to
companies. Morrison highlighted an example from Datawatch – they opened an
office in Boston as they knew it was a more appealing location for the type of
people they wanted to attract.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Looking forward, the panel spoke passionately about the benefits
that real time analysis of streaming data will provide to the industry.<o:p></o:p></span></div>
<div style="background: white; line-height: 19.8pt; margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #666666; font-family: "Helvetica","sans-serif";">Thank you to Will, Phil, Michael, Adam and Andrew for a great
overview of this fascinating and fast-moving field.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhV3QDZtFCOKqVpisBPIvv9ldODzKmTScpgpx5G92o7A9teBScD28cQduRIAvQwxrjYHN9zU5im_IneiSUHyGf4kzzMIY5av9JUOiyWKn7o3rac6i89HljlfmWeOQ-HT2_zILcr-mDkuVYb/s1600/FullSizeRender.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhV3QDZtFCOKqVpisBPIvv9ldODzKmTScpgpx5G92o7A9teBScD28cQduRIAvQwxrjYHN9zU5im_IneiSUHyGf4kzzMIY5av9JUOiyWKn7o3rac6i89HljlfmWeOQ-HT2_zILcr-mDkuVYb/s1600/FullSizeRender.jpg" height="320" width="240" /></a></div>
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Meaghanhttp://www.blogger.com/profile/11460355377417182002noreply@blogger.com1tag:blogger.com,1999:blog-4266096732541181620.post-7406140157010626822014-11-01T12:18:00.001-04:002014-11-01T12:18:09.008-04:00Zach Nelson and Evan Goldberg- NetSuite Keynote<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><u>NetSuite</u> </b><o:p></o:p></div>
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<b>Evan Goldberg<o:p></o:p></b></div>
<div class="MsoListParagraph" style="margin-left: .75in; mso-add-space: auto; mso-list: l1 level1 lfo3; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Founder, Chief Technology Officer, and Chairman
of the Board<o:p></o:p></div>
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<b>Zach Nelson<o:p></o:p></b></div>
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<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->President and Chief Executive Officer<b><o:p></o:p></b></div>
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<b>Founding in the Cloud
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Evan learned from running his own company that there was a
dearth of good business software. “I’d
imagined that bigger companies had better software,” said Evan – but it turned
out that wasn’t the case. The whole
company started in a five minute phone conversation. Larry Ellison put in $ 1 million, and Evan put
in $2,000. <o:p></o:p></div>
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Its
first incarnation was as “NetLedger,” with a more single-minded focus on accounting. Larry Ellison suggested beginning with
accounting because that’s the core of a company’s data. In 2001 the company came out with an
Executive Dashboard, committing to a suite format.</div>
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<span style="text-indent: 0.5in;">“It was </span><i style="text-indent: 0.5in;">the
first</i><span style="text-indent: 0.5in;"> cloud company”… $4.95 a month for customers.”</span><span style="text-indent: 0.5in;"> </span><span style="text-indent: 0.5in;">The company was motivated by the idea that “the
kind of data you own defines your success.”</span></div>
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<o:p></o:p></div>
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<b>Managing Growth<o:p></o:p></b></div>
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In 2002, Netsuite’s revenue in was $3 million. Now, “every
company is a cloud company” and Netsuite’s estimated 2014 revenues are $553.2
million.<o:p></o:p></div>
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Growth rates reflect where customers are betting the future.<o:p></o:p></div>
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Evan decided that he wanted to be the inside guy in a
company, so he wanted to find an “outside guy” – so he brought in Zach as CEO
and President.<o:p></o:p></div>
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Zach was looking for a company that was:</div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -0.25in;">1. Web-based</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -0.25in;">2. Well-funded</span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -0.25in;">3. Had a Great Development team</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo2; text-indent: -.25in;">
<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal">
He wanted a company where “you could define what you think
the future will be and then make it happen.”<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Zach said, “The thing I’m personally proudest about is that
we built a distributed company really quickly.”<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Selling to the Fortune 5 Million (as opposed to the Fortune 500) requires that
you reduce the cost of sale<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->This required moving outside Silicon Valley and significantly
expanding their personnel<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.25in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->Now they have 3,300 employees around the world<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Finding people who can manage in that
environment is hugely important to their success.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
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<b>NetSuite After IPO<o:p></o:p></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->They were one of the last IPOs of 2007<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.75in; mso-add-space: auto; mso-list: l0 level3 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->“In many ways it was good for us to go through
the crash quickly”<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.75in; mso-add-space: auto; mso-list: l0 level3 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->“Many of the investments we made during the
downturn are our second and third best sources of growth”<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Shareholders are really important, especially
when the people running the company are large shareholders, like at NetSuite.<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->You behave in very different ways when you’re personally
aligned this closely with the company’s success.<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<br /></div>
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<b>Advice for the Next
Generation<o:p></o:p></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Vision is the most important element in a
company’s success<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Evan- We were driven by a “need to help small
companies succeed”<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Critical question is how do you bring the power of
enterprise systems down to something that a normal human can use?<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Now large companies are asking for the agility and
flexibility of a small business, which means they need cloud capabilities.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]--> “Every
company is becoming a cloud company”<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 1.25in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->This helps disrupt industries like taxi cabs and
hotels that nobody would’ve expected were disruptable<o:p></o:p></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>Q&A<o:p></o:p></b></div>
<div class="MsoNormal">
“What happens after the cloud?”<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Zach- “I truly believe that the cloud <i>is it.</i>” <o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->“The question is what innovative businesses will
be built on the cloud”<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]--> “It’s
going to last much much longer than other architectures, so the question is
what you should build on it”<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
“Do introverts not make good CEOs?”<o:p></o:p></div>
<div class="MsoListParagraph" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Evan thinks he was the right person for early
stages of the company. As the company grows, communication internally and
externally becomes hugely important… you need to articulate a vision and
inspire people. Partners can be huge in combining technical skills with
communication.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
“What directive did you ignore from Larry Ellison in order
to achieve the success you have today?”<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Larry is a font of ideas - he suggested
NetLedger Personal, for personal finance<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 1.25in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->Evan looked into it “but it was a bridge too far”<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
“If you went with
your initial gut idea about a web sales tool, could you have been
Salesforce.com instead?”<o:p></o:p></div>
<div class="MsoListParagraph" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->Evan thinks that the Salesforce.com founders
were the right people for the job – there are very significant technical
challenges in that kind of tool. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
“As NetSuite gets bigger and mature, do you think innovation
will stifle? How do you keep a startup mentality in a large organization”<o:p></o:p></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->They were initially concerned about not having
anyone who’s run a $1B business, but they have the skilled, experienced
entrepreneurs, which is something that many huge businesses lack.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->They get great feedback from customers, which
keeps them abreast of what businesses need.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->They sponsor a company hackathon too, which
brings out ideas that can be used in a business context.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]-->-<span style="font-size: 7pt; font-stretch: normal;">
</span><!--[endif]-->The culture of their foreign locations can come
into NetSuite too<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 1.25in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]-->Experience working in the Czech Republic changed
their approach to change – now the company has a series of “musts” that guide
priorities.<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
</div>
Anonymoushttp://www.blogger.com/profile/13773305305792194471noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-2953932954049611562014-11-01T11:42:00.006-04:002014-11-01T11:50:11.024-04:00Accelerators and Incubators Panel<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #333333; font-family: Arial; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman";">When to apply to an accelerator depends on what stage your
company is in. Accelerators are for executing, not exploring. In order to get
value from an accelerator you have to know what you want to build.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Arial; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman";">What can we expect to see from accelerators going forward?
Money-back guarantees, more vertical-focused (e.g. hardware, digital health), and a
continual focus on seed stage investments.<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/09412540885716747832noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-87554453263359132642014-11-01T10:43:00.002-04:002014-11-01T10:45:35.186-04:00Jennifer Fleiss (Rent the Runway) and Scott Friend (Bain Capital Ventures)<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial, Helvetica, sans-serif; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Scott Friend, Bain Capital Ventures: </span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: normal; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">HBS alum, </span><span style="line-height: 1.15; white-space: pre-wrap;">ProfitLogic founder</span></span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: normal; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial, Helvetica, sans-serif; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Investment focus: Transformation of retail industry</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: normal; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial, Helvetica, sans-serif; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Early investor in RTR</span></div>
</li>
</ul>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span>
<br />
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: Arial, Helvetica, sans-serif; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;">Jennifer Fleiss, Rent the Runway:</span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: Arial, Helvetica, sans-serif; vertical-align: baseline; white-space: pre-wrap;">HBS alum, Rent the Runway co-founder</span></div>
</li>
</ul>
<span style="font-family: Arial, Helvetica, sans-serif;"><br />
</span><br />
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;"><b>Founding Rent the Runway</b></span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Jenny and Jenn had the idea while @ HBS; Now >300 employees, 250+ brands</span></li>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;"><i><b>The consumer dilemma: </b>“A closet full of clothes, but nothing to wear”</i></span></blockquote>
<div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Other factors at the time: Social pressure with new social media trends + Fast fashion</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Started with trunk shows at Harvard and Yale sororities to prove the model worked and women had demand for it</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Designers had limited control over the pricing @ retailer, but their brand value is at stake</span></li>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;"><i><b>Early discovery: </b>“Women have a transformative emotional connection<b> </b>with fashion” </i></span></blockquote>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><b>Getting Funding</b></span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">Needed to invest early in a large number of dresses to test the model well; the RTR b</span><span style="line-height: 1.15; white-space: pre-wrap;">rand needed to feel aspirational, high-end </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Initial introduction to Scott @ Bain Capital Ventures</span></li>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-weight: bold; line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">What made them different: </span><span style="line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">Highly professional, structured, thoughtful about what they were going to build and why</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-weight: bold; line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">What made the timing and execution different: </span><span style="line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">There were tons of entrepreneurs founding ecomm businesses in 2009,but J</span><span style="line-height: 1.15; white-space: pre-wrap;">enny and Jennifer already had a proof of concept in their MVP</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-weight: bold; line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">What made Scott different for Jenny and Jennifer: </span><span style="line-height: 1.15; vertical-align: baseline; white-space: pre-wrap;">Former entrepreneur who understood the challenges of running a business</span></span></li>
</ul>
</ul>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><br /></span></div>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><b>Executing the Model: Jennifer's Perspective</b></span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Priority: Get the site up in order to test the revenue model (HAD to be up by Holiday 2009, which was the peak of the season)</span></li>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;"><b>The first challenge: </b></span><span style="line-height: 1.15; white-space: pre-wrap;">“How, as two non-technical people, can we get a website launched within 2 months? It was the first, most difficult component” </span></span></blockquote>
<ul style="margin-bottom: 0pt; margin-top: 0pt;"><ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">To accomplish that, unsuccessfully searched for a CTO, then outsourced</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Started with an outsourced option, “which was our only choice at that point” -- the first one was a scam, and the second was ultimately successful</span></li>
</ul>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;"><b>The second challenge: </b>“The other piece was getting designed brands signed on… which is not a given when you're asking them to risk their brand equity.” </span></blockquote>
<div>
<b style="line-height: 17.25px; white-space: pre-wrap;"><span style="font-family: Arial, Helvetica, sans-serif;">Executing the Model: Scott's Perspective</span></b></div>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">“<b>Our thought was:</b> let’s do as little as we can do on the technology side and just spend our time proving that the revenue model works. </span><span style="line-height: 1.15; white-space: pre-wrap;">By 2009 New Years, we had 100% of our inventory sold out, and... w</span><span style="line-height: 1.15; white-space: pre-wrap;">e’d done our first-year revenue plan within 1 month"</span></span></blockquote>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">It felt and looked like a fashion company at the time, which made finding a technical CTO challenging because it didn’t look like the analytics and operations company that they were seeking -- even though it is now</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">“Technology didn’t exist to run our reverse logistics process, which meant we would need to spend a lot of time and money buying something and customizing it, or building it ourselves.” (but tough to replicate) </span></li>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;"><b>The good news</b>: “A big part of the bet was the assumption that if it worked, it would be really hard to replicate, both operationally and in terms of designer brands”</span></blockquote>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">Skepticism of the brands was challenging: “It tests how thick your skin is. You’ll get doors in your face, hear 'No' all the time”</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">“We listened to what was good for the designer, what customers wanted, and we evolved the story as a result. We knew we just needed to get women renting dresses.”</span></li>
</ul>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><br /></span></div>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><b>The Future of Rent the Runway</b></span></div>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">“<b>Our guiding light is always listening to customers. </b>No matter what we’ve done… it’s always stemmed from what customer want.” </span></blockquote>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">Now a major focus is on the v</span><span style="line-height: 1.15; white-space: pre-wrap;">ariables you can use to drive the average order price and conversion rates</span></span></li>
</ul>
<div>
<span style="font-family: Arial, Helvetica, sans-serif; line-height: 17.25px; white-space: pre-wrap;"><br /></span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><b style="line-height: 1.15; white-space: pre-wrap;"><span style="font-family: Arial, Helvetica, sans-serif;">Scott's thoughts on their success: </span></b></li>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">“Jenn and Jenny were really thoughtful about the best things to do on the back end of the business at all times.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 1.15; white-space: pre-wrap;">“Almost every dress goes out the door on Thursday and comes back on Tuesday. From Tuesday to Thursday, somehow those dresses have to be evaluated, processed, cleaned, fixed, picked again, packed, and shipped. </span><span style="line-height: 1.15; white-space: pre-wrap;">We are the largest dry cleaner in the world” </span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.15; white-space: pre-wrap;">“The other piece they were brilliant about was recognizing that we would have more data about customers than any retailer in the world. We’d know their size, style preferences, even their event calendar. But collecting that data and doing something with it was challenging -- How many fashion companies do you know that had one of their first hires as a Data Scientist?” </span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 18.3999996185303px; white-space: pre-wrap;">"</span>Great entrepreneurs can get great hires and just get people to do stuff for them. The number of people who have offered advice or guidance over the years is a credit to Jenn and Jenny spending time on that." </span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">They a great wealth of resources available at HBS; they got introductions to people outside the network, and also met with 80+ professors</span></li>
</ul>
</ul>
</div>
<span style="font-family: Arial, Helvetica, sans-serif;"><br /><span style="font-stretch: normal;"><b><u>Q&A</u></b></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;"><b>Question: </b>What is the exit strategy? </span><br />
<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;">It's always been about growing the business and keeping up with demand, but "things have finally settled; there aren't as many fire drills and the company is doing really well. We have time to think about where to head from here"</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">"All the options for exit will remain open as long as we continue to build and grow"</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><b>Scott: </b>Sharing economy is becoming more the norm -- it's the tip of the iceberg in a way that it's proving to women that this is a good way to test luxury; 500K customers today is still <1% of the target market</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><b>Scott: </b>The name, the story, and the founders are incredibly compelling -- you can see then standing up in front of public markets and have that story resonate. </span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><b>Scott: </b>Profit per dress is very attractive and more so as you grow; this could be a standalone public company. </span></li>
</ul>
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;"><b>Question: </b>Scott, what have you invested in that has failed and why? </span><br />
<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Even in cases where the business didn't work, the team was so attractive that they still got hired and acquired (Example: celebrity support for an app that was a "next-generation mobile Yelp") -- Just the nature of early stage venture investing </span></li>
</ul>
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif;">"<b>I have no idea why this particular company wasn't Instagram. </b>The team was great, and Yahoo bought the company because they loved the team." </span></blockquote>
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;"><b>Question: </b>How will the "Internet of things" (e.g., iBeacon tech) impact the retail industry?</span><br />
<ul><span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;">
<li>Being an online first company gives you an immediate advantage because you have so much data on your customer -- Beacon is just one tech that allows you to further personalize your relationship with customers </li>
</span></ul>
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;">
</span>
<br />
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;">"Our shopping experiences are going to become way more uber-like over time -- retail is in a position to provide a similarly <b>frictionless experience</b>" </span></blockquote>
<span style="font-family: Arial, Helvetica, sans-serif; font-stretch: normal;"><b>Question: </b>When will RTR pursue international expansion?</span><br />
<blockquote class="tr_bq">
<span style="font-family: Arial, Helvetica, sans-serif;">"There will always be shiny new things you could work on, and international is one of them at this point for us; having an investor, board, and team that keep you focused is helpful" </span></blockquote>
<ul><span style="font-stretch: normal;"><span style="font-family: Arial, Helvetica, sans-serif;">
</span>
<li><span style="font-family: Arial, Helvetica, sans-serif;">The other thing that makes international less attractive in the short term is how challenging the business itself is -- it would take years to get it right, and so many companies that have started replicas of RTR internationally have had trouble being successful</span></li>
</span></ul>
<span style="font-family: inherit;"><span style="font-stretch: normal;">
</span></span>k.c.younghttp://www.blogger.com/profile/05629864637379439909noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-40421665065411846862013-11-02T15:35:00.000-04:002013-11-02T17:25:14.200-04:00Closing Keynote: Rich Miner, Partner at Google Ventures, Co-Founder of
Android<div>"Exciting industries: innovation around enterprise, especially mobile's impact on enterprise."</div><div><br></div><div>"Traditional enterprise communication models are not creative... Think about what you can do with a mobile device."</div><div><br></div><div>"There is also tremendous amount of innovation in connected devices: your car, your phone, your digital camera..."</div><div><br></div><div>"It's been easier to prototype hardware now with the makers' movement: 3-D printing, makers' network. You can get your design built and delivered back to you in a few weeks."</div><div><br></div><div>"The idea of bringing the world to you with a press of a button."</div><div><br></div><div>"There is raw data saying that teams that worked together before will be more likely to succeed than teams that haven't. Teams with co-founders do better than those who don't."</div><div><br></div><div>"It comes down to the right dynamics between the founders. But also know what's the product, what's the market."</div><div><br></div><div>"Diversity in teams is hugely important."</div><div><br></div><div>"Successful startups tend to have a balance and diversity of background in business, technical, commercial experiences, with the exception if the team has worked together before."</div><div><br></div><div>"A lot of it is being ready for the ups and downs, the successes and the failures."</div><div><br></div><div>"To future entrepreneurs: you should be driven, you want to take risks. If you hesitate to clip the bungee cord on... The best entrepreneurs have a problem they want to solve. You can't get there by matricing where you can get most money."</div><div><br></div><div>"Working for a big company like Google sometimes is good to get exposed to skills that may help you learn product development etc in the future. Or find a startup you like and join them. You don't have to dive in right at the beginning."</div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh55g_2Ut35NxYeE6O31k3gdbEl7Th6tTVL_mmeOUhoDoaJZ1pGBgfSNTdfkGTOP2CPjxab-shrO_RvG8HMkGxHDSDwL8rCwlyXq6V2g4mERyNSlZ0vGR4vZiV8LH4pI9-UQn3XS-SrFBNr/s640/blogger-image-1973303548.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh55g_2Ut35NxYeE6O31k3gdbEl7Th6tTVL_mmeOUhoDoaJZ1pGBgfSNTdfkGTOP2CPjxab-shrO_RvG8HMkGxHDSDwL8rCwlyXq6V2g4mERyNSlZ0vGR4vZiV8LH4pI9-UQn3XS-SrFBNr/s640/blogger-image-1973303548.jpg"></a></div><br></div>Moonlithttp://www.blogger.com/profile/17322486913662379251noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-74270274195721444332013-11-02T14:42:00.000-04:002013-11-02T14:42:38.761-04:00Enterprise Mobility: How Mobile is Transforming the WorkplaceLive-Blog of Enterprise Mobility Panel. *Please note that anything not "in quotes" are paraphrases of what was said and are not direct quotes of the panelists.*<br />
<b><br /></b>
<b>Moderator: </b>Michael Skok, North Bridge Venture Partners (<a href="http://mjskok.com/">http://mjskok.com/</a>)<br />
<br />
<b>Panelists: </b><br />
<a href="http://www.linkedin.com/pub/jay-wessland/0/6b2/607">Jay Wessland</a>, Vice President of Technology, Boston Celtics (Apperian customer)<br />
<a href="http://www.linkedin.com/in/cimarronbuser">Cimarron Buser,</a> Global Business Development, Apperian<br />
<a href="http://www.linkedin.com/pub/tom-lounibos/3/28b/608">Tom Lounibos</a>, CEO for SOASTA<br />
<a href="http://www.linkedin.com/in/timgu">Tim Gu</a>, product Manager, Integrations, Okta<br />
<br />
Tom: Enterprises don't have talent pool to build and support mobile applications. In crisis mode. Start with sales reps<br />
Uneven distribution in how enterprise shops are going into mobile. Majority is being used as sales tools (catalogs, finding stores)<br />
<br />
Michael: this is a consumer-led evolution. Moving forward, it will be "BYO Cloud," "BYO Device," and different security measures will be needed for corporate and private data.<br />
<br />
Tim: this breaks traditional security model (company devices, company resources). Now people are bringing their own devices to work. How do we manage security?<br />
<br />
Cimarron: Apperian is unique in that it allows companies to deploy an internal app store. People expect apps to be great, but traditionally enterprise apps have "sucked." People come into workplace expecting great apps in a great app ecosystem. Many of these apps have a social complement. Becomes incumbent on the company to have a system to deploy apps and ensure adoption since ROI depends on it.<br />
<br />
Michael: Jay, you're an Apperian customer. Comment on how you reacted to the "your apps suck" mentality.<br />
<br />
Jay: moved videos and information onto general, publicly-accessible cloud offerings, but didn't want to go quite so public with enterprise apps. Went to Apperian and tied apps to enterprise. Separated information into security-required and not. This separated user bases and data within company. Corporate employees needed security and were willing to invest time in learning apps. Players have less need for this.<br />
<br />
Tom: quoted Jack Dorsey: "In the future enterprise apps have to be as easy to use as Twitter." I laughed at first but every day since that comment I realized he's right. Everything now is about seamless application to prevent fragmentation. All of our customers, enterprise or consumer, are trying to make apps as simple to use as possible. How are they doing this? Looking at design. Simplifying and paying attention to "where the button is."<br />
<br />
Cimarron: Consumerization of IT: Expectation that apps used in enterprise are as simple to use as consumer apps. Example of app used in insurance: reporting accidents via app works for end users, but can be mirrored for insurance adjusters.<br />
<br />
There are so many things where mobile is the only way: "people won't want some stuff displayed openly on computers." True for Celtics too: laptops no longer fit space, so people moving work to phones and ipads.<br />
<br />
Mobile is now about content creation as much as it is about consumption. <br />
<br />
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<div class="separator" style="clear: both; text-align: center;">
<br /></div>
Moving on to questions from <a href="http://www.pigeonholelive.com/">Pigeonhole</a>:<br />
<br />
Corporate communications: Jay addressed early use of Blackberry Messenger as quick connections.<br />
<br />
Tim Gu: brought up own question to audience about move to video communication for work. Would people be willing to use this if the are home and disheveled?<br />
<br />
Q: How are stadiums using technology to avoid mobile service disruptions caused by extremely high levels of demand concentrated in small areas?<br />
<br />
Jay: "Not very well." Mobile is such a challenge: you have to rely on connectivity. Industry is still in infancy. Infrastructure problems, etc. This opens up a huge opportunity for us.<br />
<br />
Q: Will non-cloud-based enterprise software disappear?<br />
<br />
Tom: What drove the cloud? Cloud computing came from the requirement of mobile devices. We will continue to run into problems but we will also innovate solutions.<br />
<br />
Michael: Mobile access to searches has surpassed PCs. This will continue to grow. All of this relies on mobile connectivity.<br />
<br />
Jay: Dropbox offers a simple cloud solution to this: it is so easy to favorite documents to make them available offline. Other apps can do this too.<br />
<br />
Enterprise selling. What is the best strategy? Consumer to enterprise (like Box)? or other way around?<br />
<br />
Cimarron: Still start pretty high up. Another example (other than Box) of going consumer to enterprise is Evernote. Everyone who uses it becomes addicted, so enterprises end up having to offer it.<br />
<br />
Technique of "if you want to see this you need to join" works really well to entice consumer use of apps.<br />
<br />
Michael: Pay attention to how long initial adoption takes. "Overnight success" is actually "five-year overnight success." <br />
<br />
Cimarron: Example is Blackberry. Tipping point occurred on hardware side when people started to move to iPhone, but it took a long time. Now look where we are.<br />
<br />
Michael: Questioned assumption of question that enterprise selling is painful. It doesn't have to be.<br />
<br />
Jay: barrier to me is ease of use on the admin side. Ease/speed of implementation is key to sell in enterprise apps. Price is low on list (within reasonable constraints).<br />
<br />
What do you think about the future of enterprise social media? (Yammer, etc)<br />
<br />
Tom: Two barriers: adoption, and marketing organization not understanding. This could be a way for companies to understand their employees' experiences. Similar to how airlines are responding to customer complaints on Twitter.<br />
<br />
Michael: other side of this using this to engage with developers. Enable communities to self-serve.<br />
<br />
Tim: when i think about internal use of social media, I think of this as a replacement for email. Facilitates communication of knowledge in a faster and easier way. When you think about designing a product, anytime it involves communication between people, think about how this can help their interaction.<br />
<br />
Jay: As we see more employees not congregating in an office space, and workforce is more geographically dispersed, these tools will become more and more useful in the workplace. Twitter is about business and consumer, not within the business itself.<br />
<br />
Question: Have you seen interesting use cases of enterprise employee wellness apps?<br />
<br />
Cimarron: this has been slow to develop. Seen as an HR app and is not top priority right now. I've seen the gamification of employee programs and this has started to show up on the wellness side too.<br />
<br />
Jay: We're growing this part of the business for players. Have been using gamification to mark player's progress using mobile tools. Adding an employee on the basketball staff who is a medical technology person.<br />
<br />
Tom: There's actually an HR company in boston that is now getting into the gaming business. Giving games to employees during breaks because they noticed that employees were using other people's games and this keeps them on their portal during their off-time.<br />
<br />
Question: Dropbox vs. Box? Consumer vs. Enterprise? Who will win?<br />
<br />
Cimarron: Google is jumping in too and so is Microsoft. What makes Box so successful is the ecosystem they have built, offering up their platform for people to build on.<br />
<br />
In an enterprise setting, how can companies like Evernote compete with Microsoft, which rolls out products to millions of users instantly?<br />
<br />
Cimarron: by solving problems that remain in the software. Evernote has been doing work to address privacy. People want to share some but not all of their data within their org (work vs. private data).<br />
<br />
Tom: Battle needs to be mitigated between consumer desire for open source and enterprise desire for control.<br />
Jay: Will need to compromise on both ends.<br />
<br />
Cimarron: Is it about controlling behavior or protecting data? Lines are becoming blurred between corporate and private life. In the past, IT controls were about controlling behavior, not about utilizing ad optimizing technology.<br />
<br />
Michael: I am looking forward to the next generation controlling IT. <br />
<br />
Tom: I'm really excited about the disruption that is taking place now. Mobility is not about "mobile" anymore. It is so much more than that. This is a GREAT time to start a company. If there was ever a time, it is now.<br />
<br />
Jay: I think we're ending on a good note. It is difficult and challenging to find the balance between open and private, but this will be the big challenge and opportunity moving forward.<br />
<br />
Cimarron: We tend to be very American and Euro-centric when we think about these devices, but a huge market opportunity exists outside of these regions. Huge opportunities exist in this area. We don't know what technologies will win. This is going to be an exciting couple of decades.Anonymoushttp://www.blogger.com/profile/01623360099575179340noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-30653403270601351722013-11-02T14:37:00.000-04:002013-11-02T15:23:16.587-04:00New Funding Model Panel<div dir="ltr" style="text-align: left;" trbidi="on">
-- We have moved from monarchy of innovation to crowd-funding where everyone can follow their dreams- Hugo Van Vuren<br />
-- Crowd funding is not just for entrepreneurs but for everyone! - Paul Gu, Upstart<br />
-- Upstart thinks of a person as a start-up-- Paul Gu<br />
-- Crowd-funding investors are concentrated in US and UK<br />
-- JOBS act will not stop the project based crowd-funding<br />
-- Start using Upstart as soon as you can get into a binding contract!!- Paul Gu<br />
-- Most common activity people invest money raised from Upstart in their education and starting a company<br />
<br />
-- who are the ideal customers of a crowd-funding platform-<br />
1. Idea campaign owner: People who can identify audience which cares about them and idea, with strong perseverance, ready to accept feedback and who can integrate this feedback-- Bre, Indiegogo<br />
2. Companies which are really successful on FundersClub: Companies which can get funding easily, companies which have been around for a while but for some reason are not really successful, companies for some reason (like present in middle of no where, ideas which do not sell easily)-- Alex, FundersClub<br />
3. Businesses who have maxed out their credit cards<br />
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-- How to make businesses sustainable after the first round crowd-funding?<br />
1. People do not understand manufacturing at scale- there are companies which actually fill this gap!!<br />
2. More curation of the project<br />
3. It's worth trying!!<br />
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-- What will crowd sourcing for large projects?<br />
1. Indiegogo helped raise a project 12.6 million. So some of these existing funds can sustain it.<br />
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--Where will crowdfunding be in 6 years?<br />
1. Completely grown present across the world<br />
2. Crowdfunding will be a natural state and norm<br />
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Scarletthttp://www.blogger.com/profile/07394646417457047764noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-44797423418382291922013-11-02T14:01:00.003-04:002013-11-02T14:01:59.478-04:00Future Trends in Mobile Technology<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="background-color: white; font-family: Calibri; font-size: 17px; line-height: 28px; text-align: center;"><b><u>Future Trends in Mobile Technology</u></b></span><div>
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<tr><td class="tr-caption" style="text-align: center;">Panelists Answer questions submitted through Pigeonhole</td></tr>
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<span style="background-color: white; font-family: Calibri; font-size: 17px; line-height: 28px; text-align: center;"><b>Moderator</b>: Steve Papa, Founder of Endecca & Investor</span></div>
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<span style="font-family: Calibri; font-size: 17px; line-height: 28px;"><b>Panelists:</b></span></div>
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<span style="font-family: Calibri; font-size: 17px; line-height: 28px;">Purnima Kochikar, Director of Apps & Games, Google Play</span></div>
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<span style="font-family: Calibri; font-size: 17px; line-height: 28px;">Bob Davis, General Partner, Highland Capital Partners</span></div>
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<span style="font-family: Calibri; font-size: 17px; line-height: 28px;">Susie Kim Riley, Founder & CEO, Aquto</span></div>
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<span style="font-family: Calibri; font-size: 17px; line-height: 28px;">Rajesh Mishra, Founder & CEO, Parallel Wireless</span></div>
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<span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Led by moderator, Steve Papa, panelists gave a survey of the key trends in mobile technology and addressed the following questions:</span></span></div>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>What is the opportunity with Payments?</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Payments are not the problem, credit cards are easy enough - Purnima Kochikar </span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">NFC payment systems require vendors to install new hardware, making it very unapproachable - Susie Kim Riley</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>Changing the Risk Profile of Entrepreneurship?</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">There is a huge supply of creativity, but, entrepreneurs in different parts of the world fear failure. In Japan, entrepreneurs lose credit profile if their businesses fail. - Purnima Kochikar</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>What are the challenges and opportunities of reaching the next billion users? </i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Users in emerging markets see mobile engagements in "bit" sizes, need to package business models to - Susie Kim Riley</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">US-style pricing models will not work in other parts of the world. Compounding the expenses of traditional carrier plans are additional costs like electricity, making the technology </span></span><span style="font-family: Calibri; font-size: 17px; line-height: 28px;"> - Bob Davis</span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>How will the internet of things change the mobile landscape?</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">The internet of things is the most interesting trend in mobile technology. Estimates of 20 billion devices connected to the internet by 2020 - Bob Davis</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Carriers will have to change their product offering in order to meet spectrum requirements - Rajesh Mishra</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>Will Infrastructure be able to support demands required by next billion users and internet of things?</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Phones are only used 10% of the time, yet they are consuming data 100% of the time. We need to figure out how to more effectively allocate spectrum - Rajesh Mishra</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">The numbers tell us that there will be a crisis in internet availability, but, confident that smart entrepreneurs will find the solution - Bob Davis</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>How to balance agility + sustainability in the mobile world, where businesses have such a short half-life?</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Entrepreneurs need to have a larger vision (i.e. Uber is not a transportation company, but, a comprehensive logistics platform) so that can roll-out new services and features - Purnima Kochikar & Susie Kim Riley</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Content is fickle and it always has been, mobile just makes it more obvious - Bob Davis</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><i><b>How to Handle Privacy Concerns</b>? </i></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">First task is to prove to users that metadata can be anonymous - Rajesh Mishra</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Users will opt-in to share data if they get something in return - Susie Kim Riley</span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;"><b><i>Android vs. iOS</i></b></span></span></li>
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<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Closed systems do a great job educating the market, but open systems always win in the long run - Bob Davis</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">User experience is key, whoever masters this will win - Rajesh Mishra</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">Poor user experience on low cost Android phones ruins the user experience - Rajesh Mishra</span></span></li>
<li><span style="font-family: Calibri;"><span style="font-size: 17px; line-height: 28px;">This debate will continue forever - Purnima Kochikar</span></span></li>
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Helen Millsonhttp://www.blogger.com/profile/14205751540962511113noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-81049207131382452242013-11-02T12:33:00.001-04:002013-11-02T14:31:01.009-04:00Mid-Day Keynote: Travis Kalanick, CEO of Uber<div class="separator" style="clear: both;">
<i>--Everyone's private driver.</i></div>
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"San Francisco and Paris are sister cities, in that it's equally impossible to get a cab on the street."</div>
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"How do we make it so that there is always a car 5 min away from you - through math... Heat map, anti-heat, what you left is under served market."</div>
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"Surge pricing is your friend. Higher demand drives higher price, so more cars will join and stay longer, and thus drives supply so no one is stranded."</div>
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"If you can deliver a car in 5 minutes, you can deliver anything. Recently we had Uber ice cream, Uber kitties..."</div>
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"We give riders high fives and give drivers hugs."</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLh61UEqWFwoxU0JTYCgtQcwrK3vVyo8iv-y1ZyUMc5EpJkFYNgy9fsJksRt6OsUb7yMQcwTpeYnPh0e9o03soCLV-FAKrxVy1j38etYyUSF7OfwUZOahSuRalzrlp06adTqaa2MhkpO9n/s640/blogger-image--284589515.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLh61UEqWFwoxU0JTYCgtQcwrK3vVyo8iv-y1ZyUMc5EpJkFYNgy9fsJksRt6OsUb7yMQcwTpeYnPh0e9o03soCLV-FAKrxVy1j38etYyUSF7OfwUZOahSuRalzrlp06adTqaa2MhkpO9n/s640/blogger-image--284589515.jpg" /></a></div>
Moonlithttp://www.blogger.com/profile/17322486913662379251noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-2507057388155579722013-11-02T11:51:00.001-04:002013-11-02T14:19:40.993-04:00Growing the Startup<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Growing the Startup</b><br />
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<b>Moderator:</b> Dave Balter, Global Head of Investments, dunhumby & CEO, Smarterer<br />
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<b>Phil Beauregard</b>, Founder & CEO, Objective Logistics</div>
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<b>Florian Meissner</b>, Founder & CEO, EyeEm</div>
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<b>Jason Jacobs</b>, Founder & CEO, Runkeeper </div>
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<b>Alex White</b>, Founder & CEO, Next Big Sound</div>
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<b>Pat Kinsel</b>, Founder & CEO, Spindle</div>
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Dave: What are the key metrics, internal and external, to gauge growth?</div>
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Depending on the company you are in, these could be a million downloads a month, the no. of searchable photos created daily, registered vs. active users, tracking activity, etc. The internal metrics are more revenue and growth focused, and the external are more broad base and measured in terms of activity, users, etc.</div>
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Key metrics are very different depending on which company you're in (B2B, B2C..). The dashboard changes with each iteration of the product and measurement of ROI, revenue per client, etc. For search companies like Spindle, what is most important is the search query volume as this brings in search syndication deals. </div>
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The most important thing to do is to always keep goals and measurement metrics in mind. Key metrics change over time. Growth becomes more important over time but is not crucial at the beginning.</div>
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"Do you have enough cash in the bank to achieve your goals?" - Flo</div>
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<b>Metamorphosis: Moving to Managers</b></div>
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How do you become a CEO over time and move out of functional areas and more into holistic strategy. The key is the hand-off as you hire more people, decision making, and how do you balance friendships with being the boss. </div>
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"All the world's a stage" - Phil. It's constant evolution; your language changes, you wear a suit for meetings.</div>
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"Anything is better than insolvency" - Pat</div>
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There is pressure, some hard alternatives to face and you can't be too idealistic any more. There are employees and their families to consider.</div>
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"There is no such thing as product market fit; the market is always changing and you are constantly chasing a moving target" - Phil</div>
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<b>Internal transition</b> - what do you do? With too much delegation, you might find yourselves out of things to do. You reshape yourself to find things only you can do and then you create a culture where there is transparency and your employees are honest with you.</div>
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<b>What keeps you up at night?</b> </div>
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The cash out date (how many days till we run out of money), are the metrics moving in the right direction, are you building the product, and are your employees upset, and if yes, what can you do to remove obstacles so they can do their job. And excitement!</div>
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"Work life balance as a father and a workaholic!" - Jason</div>
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<b>Key Takeaway</b></div>
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"It's a roller coaster!" - Alex White</div>
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"You have to take a lot of punches and refuse to go down" - Phil</div>
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Anonymoushttp://www.blogger.com/profile/05494415924321677764noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-87111905973789757682013-11-02T11:14:00.000-04:002013-11-02T11:14:21.407-04:00Mobile Monetization<br /><div class="post-body entry-content" id="post-body-4087990990769494711" itemprop="description articleBody" style="background-color: white; color: #333333; font-size: 15px; line-height: 1.4; position: relative; width: 578px;">
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<span style="font-family: Arial; font-size: 11.5pt;">Mobile Monetization panelists discuss why companies are suceeding in the $12B mobile ad market! <o:p></o:p></span><span style="font-family: Arial; font-size: 11.5pt;">#cyberposium</span></div>
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<i><u><span style="font-family: Arial; font-size: 11.5pt;">Panelists (from left to right)<o:p></o:p></span></u></i></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Marco Iansiti, HBS Professor (moderator)<o:p></o:p></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Eric Futoran, Scopely<o:p></o:p></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Paul Alferi, Turn<o:p></o:p></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Cheryl Morris, Nanigans<o:p></o:p></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Raj Aggarwal, Localytics<o:p></o:p></span></div>
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<span style="font-family: Arial;">Herman Yang, MoPub</span></div>
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Mobile ads have moved from easily dismissed banner ads to highly engaging fullscreen ads. </div>
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Models going forward are going to focus on the ability to target customers <span style="line-height: 1.4;">across devices (desktops, tablets, smartphone) </span><span style="line-height: 1.4;">and to learn about their location-specific behaviors in order to increase engagement.</span></div>
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<span style="line-height: 1.4;">Brands want to reach as many eyeballs as possible. Apps allow brands to reach 3-4M people in 2 days and is only expanding. However, most campaigns are still initially developed for desktop and then forced onto mobile. Brands need to think mobile first, then figure out other channels. </span></div>
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Alyssahttp://www.blogger.com/profile/05721294452890858402noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-90702235475080112512013-11-02T11:09:00.007-04:002013-11-03T11:23:30.242-05:00Education Technology Panel<div dir="ltr" style="text-align: left;" trbidi="on">
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<br />
<br />
The EdTech panel kicked off this morning featuring our speakers:<br />
<br />
Rosa Birch, Head of Policy Programmes EMEA at Facebook<br />
John Richards, Founder and President of Consulting Services for Education<br />
Steven Syverud, Business Development at Coursera<br />
Lynda Weinman, Cofounder and Executive Chair at lynda.com<br />
<br />
The panel was moderated by Deborah Quazzo, Founder and Managing Partner at GSV Advisors.<br />
<br />
Over a billion dollars have been invested in the education technology market in each of the past 3 years. We're seeing massive network effects with high water market 40 million users.<br />
<br />
<b>Deborah (moderator): Why now? Why do we suddenly have all this innovation in the education space?</b><br />
<br />
Lynda: The Internet is disrupting everything, but education is one of the slowest industries to be transformed. Just a sign of the Internet age.<br />
<br />
Steven: It's now more expensive to get a traditional college degree, while it's easier to have new channels to get alternatives.<br />
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John: We're seeing spending increases in technology by educational institutions who are making these decisions to invest in innovation. The biggest growth area is in testing and assessment.<br />
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Rosa: There's also an advancement of learning through doing. Facebook partners with Apps for Good, which is democratizing how young people now engage with technology.<br />
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<b>Deborah (moderator): We still have massive issues like achievement gaps, skills gaps, inequity, cost, etc. Technology is controversial in the classroom... so is technology disruptive or destructive?</b><br />
<br />
Steven: The quality and specific environment of a university can never be replicated online. But not everyone is able to go to an institution like an Ivy League. We want to bring elements of acclaimed universities to people who can't attend them. We're not disrupting universities in a negative way. In fact, the MOOCs are more collaborative with universities than they're given credit for.<br />
<br />
Lynda: Teachers found it was complementary and liberating to offer Lynda to students. We need to better evaluate what's better done in person and what's better done online. A lecture is better delivered online than in person, but you can't do a Q&A, project based learning, or discussion groups online. This is the changing role of the educator. There are threats to the status quo, but there are improvements in efficiency and efficacy.<br />
<br />
Rosa: Important to separate the behavior from the tools that we're using. This summer, we worked with two different schools to get them to use Facebook in the classroom. Students were using facebook Timeline to fill out histories and asking each other questions instead of asking the teacher. The teachers thinks it enhances the work they're actually doing. It's easy to blame the tools initially, but it's also the behavior. For education, there's not a lot of scale because it takes time. That's a big challenge.<br />
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John: Technology allows us to get in and do the kind of changes we want to make in education anyway (like a "Trojan mouse").<br />
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<b>Deborah (moderator): in K-12 system, technology is empowering, not threatening. We can personalize delivery, as students operate on very different levels. Now we're worried about how to get to the 99% instead of the 1% early adopters. How did you arrive at your business model and what does the future look like?</b><br />
<br />
Lynda: We didn't consider any other model because we were so early-stage that the freemium model wasn't even in the vernacular. Have not changed subscription price since 2001. First rule is to offer something of extraordinary value for very low price (the scale of the Internet allows this since we now have 3 million users). Paid model allows us to pay our contributors and employees. Some contributors live off the royalties. We have pride in creating a business model that is a win for every person, from students to contributors to employees. We recently took money for the first time (bootstrapped for 18 years) in the largest funding round in history of education companies.<br />
<br />
Steven: The mission of our organization is that we make a high quality education available to everyone, so the courses will always be free. Here are the challenges: 1) Putting high quality content online right now - only a small segment of users end up using it. 80% of users already have a college degree. Believe it's not enough to make the users available, but also putting in it a place and framework where people can engage with it. 2) There are going to be parts of the site that you pay for. You can currently pay $60 to get a verified certificate, making us compete with a free product that we're offering ourselves. There are tons of opportunities though; other organizations may want to license the content to teach to their students or employees. but we have to articulate how we want to license the content without fundamentally changing it.<br />
<br />
Rosa: Facebook is free to use and we pay for it through advertising. This means we need to do really cool stuff to make money, so our interest is about finding stories of people who use the platform in interesting ways.<br />
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John: It's important to think about the double bottom line of education companies: doing good and making money. Free is a branding/marketing position that you take on but still need to be sustainable and generate cash. There is a responsibility that comes with free and need to be careful there.<br />
<br />
<b>Deborah (moderator): what do you think about monetizing through advertising?</b><br />
<br />
Lynda: We're against it. It's hard to provide quality content when there's a sponsor. Even with our scale of 3 million users, we're not able to get the kind of revenue that we have to rely on advertising.<br />
<br />
John: We were able to make enough money on licensing. When you have something that is completely free and ad free, you have to deal with how you were going to fund it. There's a distinction between who you're advertising to - is it students, teachers, or administrators? What kind of service does it provide and who is it addressing?<br />
<br />
<b>Deborah (moderator): What's the role of outside capital? Education is a unique ecosystem. What do you think about for-profit versus non-profit?</b><br />
<br />
Lynda: It's our moral and civic obligation to offer free education to K-12, but not everyone believes this. Many want to take education private. Education reform can be seen as a conservative or progressive movement. There's also been a private side to public education (for profit textbook companies, multi-trillion market). But we need to figure out how to lower costs and how to get it work better. Private enterprise has to have a role in that because that's not the government's expertise or purview.<br />
<br />
Steven: This is a big existential question. EdX is our main competitor, and they use the fact that they're a nonprofit to draw universities. This is a great marketing opportunity. There's an implication that for-profit companies are focused on extracting the last dollar or intersect with the way a university is run. The best way to address is look at how it actually intersect with what companies are doing, looking at how we are being good partners and delivery things to our students.<br />
<br />
<b>Audience question: how do contributors benefit as a sales channel? Do people start using your system because of your contributor is promoting it?</b><br />
<b><br /></b>
Lynda: We have a partnership program with authors (what we call our contributors), in that if they put a link on their website, then they get a kickback if someone subscribes through their link. Enterprise membership is sold through a sales team and sales channel. We need to spend very little on marketing compared to other companies.<br />
<br />
<b>Where are we in the research on which individuals learn well through these networks and who don't?</b><br />
<b><br /></b>
John: there's a lot of work now on big data and taking a look on how students proceed through a course, but that's very hard statistical analysis. We talk about adaptability and personalization, but we're not quite there yet. That is the promise to be able to look at what you're doing, understand what a good teacher knows intuitively, and adapt to it. If people tell you they're doing it right now, don't believe them!<br />
<br />
Lynda: One of the problems with mining data and quantifiable data is that it works well if you have a right answer. But skills like collaboration and presentation are hard to measure.<br />
<br />
<b>Audience question: How has working with teachers unions impacted you?</b><br />
<b><br /></b>
Deborah: We don't really deal with teachers unions in the US. There's been a real aggressive move to make sure unions are aligned with the district when they apply for Race to the Top grants around technology. Unions appreciate that the technology is there to give them leverage.<br />
<br />
<b>Audience question (Dave Balter of Smarterer): Where do you see the role of helping people get jobs?</b><br />
<b><br /></b>
Lynda: We haven't taken a formal stand on that. We offer a certification that you watched the video, but we don't have tests but like what they can do for placement. I'm a big believer in flexibility of what we offer. Is completion really the goal? Some have the goal of trying something new, so completing a course is not the right measure of success.<br />
<br />
Steven: In an ideal situation, you would take a Coursera class and have a job opportunity. A lot of people take 4 years of college but want to learn something else. What you learn is more detached from the place that you learned it from.<br />
<br />
<b>Audience question: What about partnering with the private sector to offer skill sets that employers need?</b><br />
<b><br /></b>
Steven: That oversimplifies the problem. People pay money to take these courses to get a job after and sometimes don't end up with a job. MOOCs have the opportunity to have a tighter feedback loop to make sure the content is relevant to new career fields, not careers 80 years ago.<br />
<br />
Lynda: Yahoo is using Coursera, Lynda, and other competitors for employee benefits. They also use us for onboarding by assigning courses from different vendors for new employees as part of their onboarding process. We've also seen them use it for recruiting; for example if they're looking for Android developers, they'll recommend taking these courses before you apply.<br />
<br />
Rosa: Technology helps move things faster. We partner with Apps For Good to train teachers to teach kids how to code in the classroom. The UK government made it possible to teach outside courses in curriculum time, but agree that we need to understand learning gaps in terms of employment.<br />
<br />
Thank you to all the panelists! For those of you who are students at Harvard, you can get a free subscription to Lynda.com via http://lynda.harvard.edu!<br />
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-67204681275288896472013-11-02T11:00:00.007-04:002013-11-02T11:00:25.369-04:00Sharing Economy Panel<span style="font-family: Arial, Helvetica, sans-serif;"><span style="background-color: white;">Great panelists discussing the emerging sharing economy and peer to peer marketplaces. Great discussion! <o:p></o:p></span><span style="background-color: white;">#cyberposium</span></span><br />
<b><u><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></u></b>
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<b><u><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></u></b>
<b><u><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></u></b>
<div style="text-align: center;">
<b><u><span style="font-family: Arial, Helvetica, sans-serif;">Panelists (left to right)</span></u></b></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Jing Yang - Moderator</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Matthew Shampine - WeWork</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Nick Grossman - Union Square Ventures</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Karin Brandt - coUrbanize</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">James Slezak - Peers.org</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Alex Lofton - Peers.org</span></div>
<div style="text-align: center;">
<span style="font-family: Arial, Helvetica, sans-serif;">Prof. Arun Sundararajan - NYU Stern School of Business</span></div>
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<b><u><span style="font-family: Arial, Helvetica, sans-serif;">What is the Sharing Economy?</span></u></b><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"What the Sharing economy needs is a shared definition."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Prof. Arun </span><span style="font-family: Arial, Helvetica, sans-serif;">Sundararajan</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"The average car spends 80% of its life sit. That has amazing utilization implications."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - James Slezak</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"Transaction costs for doing anything drive to zero with digital infrastructure. That opens up all kinds of new and exciting opportunities. It starts to blur the lines between professional and private activity."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Nick Grossman</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<b><u><span style="font-family: Arial, Helvetica, sans-serif;">How much does your community depend on trust?</span></u></b><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"You have to have an inherent willingness to share . People need to be open and trusting. Trust and understanding of who you're surrounded by are key."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Matthew Shampine</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"An area of trust that is emergent is trust with the platform. What are they doing with the data? How trustworthy are they with data about you?"</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Nick Grossman</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"Peer marketplaces enable new creation. People who are creating new things, offering themselves up as freelancers, the trust infrastructure is really central so they can realize their economic potential."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Prof. Arun </span><span style="font-family: Arial, Helvetica, sans-serif;">Sundararajan</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"Community members are fearful about what developers' true intentions are. We are changing that dynamic of trust by increasing transparency and collaboration."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Karin Brandt</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;"><b><u>How did we rediscover the sharing economy?</u></b></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><b><u><br /></u></b></span>
<span style="font-family: Arial, Helvetica, sans-serif;">"There's an important element of humanity we are discovering that can really excite a consumer base. We just did a series of dinner parties around the sharing economy. We thought we'd get 25 people to host around the world. We got hundreds. Lots of people in Tulsa, Oklahoma. If you take a second to connect with people as people, they'll take it from there."</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"> - Alex Lofton</span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-40879909907694947112013-11-02T10:31:00.001-04:002013-11-02T10:31:12.107-04:00Healthcare Technology<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial; font-size: 11.5pt;">Healthcare
tech panelists discuss why NOW is the best time to be in healthcare! <o:p></o:p></span><span style="font-family: Arial; font-size: 11.5pt;">#cyberposium</span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Zen Chu,
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<span style="font-family: Arial; font-size: 11.5pt;">Ryan Graue,
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<span style="font-family: Arial; font-size: 11.5pt;">Yohanes
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<span style="font-family: Arial; font-size: 11.5pt;">Grant Ho,
Carecloud<o:p></o:p></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Mandira
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<span style="font-family: Arial; font-size: 11.5pt;">Heath
Umbach, Activate Networks</span></div>
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<span style="font-family: Arial; font-size: 11.5pt;"><br /></span></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Hospitals
are open more than ever to streamlining their business. Simple waste and
inefficiency improvements can mean the difference between a hospital being
profitable and going bankrupt.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: Arial; font-size: 11.5pt;">Healthcare
reform (specifically the shift from fee-for-service to fee-for-value) is
forcing hospitals to make use of big data for the first time<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: Arial; font-size: 11.5pt;">The fax
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Anonymoushttp://www.blogger.com/profile/09412540885716747832noreply@blogger.com1tag:blogger.com,1999:blog-4266096732541181620.post-68118689497950245452013-11-02T09:12:00.001-04:002013-11-02T09:17:56.164-04:00First Keynote: Bill Clerico, CEO of WePay<div class="separator" style="clear: both;">Inspirational story of the entrepreneurial journey with the founder and CEO of WePay, Bill Clerico.</div><div class="separator" style="clear: both;"><br></div><div class="separator" style="clear: both;">"We were going this the wrong way. We were too focused on capital, when instead it should have been the product."</div><div class="separator" style="clear: both;"><br></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;">"The mindset is very important. We went from bankers in suit, trying to raise money, to four guys in an apartment, hacking away."</span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;"><br></span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;">"Being an entrepreneur: how do you take limited resources, and apply ingenuity to make an impact."</span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;"><br></span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;">"Internet payment fraud, in total volume, exceeds international drug trade... We shoulder the financial risks for the small businesses."</span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;"><br></span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;">"We leverage social data to predict risks and fraud."</span></div><div class="separator" style="clear: both;"><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;"><br></span></div><div class="separator" style="clear: both;"><font face="Helvetica Neue Light, HelveticaNeue-Light, helvetica, arial, sans-serif">Great Q&A session using Pigeonhole!</font></div><div class="separator" style="clear: both;"><font face="Helvetica Neue Light, HelveticaNeue-Light, helvetica, arial, sans-serif"><br></font></div><div class="separator" style="clear: both;"><div class="separator" style="clear: both;"><div class="separator" style="clear: both;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjmU_FLo6BA2ODmu4NXJb_4MIlG6ANGM8CAO0a_frTKriRCLOi2gHG0rQTyNV_hCznEXekqgcdIdMhfX20SfALv9RRIVA-0UoNnbuKBnzPEVCTsEgkp7hI9dLQGHU2EXVoM-Sx393VD_0G/s640/blogger-image--37942833.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjmU_FLo6BA2ODmu4NXJb_4MIlG6ANGM8CAO0a_frTKriRCLOi2gHG0rQTyNV_hCznEXekqgcdIdMhfX20SfALv9RRIVA-0UoNnbuKBnzPEVCTsEgkp7hI9dLQGHU2EXVoM-Sx393VD_0G/s640/blogger-image--37942833.jpg"></a></div><br></div><div class="separator" style="clear: both;"><br></div><div class="separator" style="clear: both;"><br></div><br></div></div><div class="separator" style="clear: both;"><br></div>Moonlithttp://www.blogger.com/profile/17322486913662379251noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-66984820129809535282013-11-02T09:06:00.000-04:002013-11-02T09:06:01.665-04:00Bill Clerico CEO of Wepay describes the journey of startup #cyberposium<br />
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Anonymoushttp://www.blogger.com/profile/11439866879143235860noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-88798348417382782182013-11-02T08:18:00.003-04:002013-11-02T08:18:49.016-04:00Breakfast @ #cyberposium yum!<br />
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Anonymoushttp://www.blogger.com/profile/11439866879143235860noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-60408852709150422062012-11-04T16:13:00.001-05:002013-01-06T18:39:52.125-05:00Main Keynote: Drew HoustonAmazing insight into being a startup, breaking through and meeting Steve Jobs... <br />
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That's our final speaker for today!<br />
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Thank you to everyone who participated, helped out and attended this years Cyberposium!Ed Bradyhttp://www.blogger.com/profile/17359740075910591659noreply@blogger.com0tag:blogger.com,1999:blog-4266096732541181620.post-58457064511933816012012-11-04T14:49:00.001-05:002012-11-04T15:26:47.471-05:00The Impact of Big Data<div><p>Ali Riaz, Attivio<br>
Ari Gesher, Palantir<br>
Fred Shilmover, InsightSquared<br>
Colin Hill,GNS Healthcare<br>
Sam Bisbee, Cloudant<br>
Kent Bennett Bessemer Venture Partners (moderator)</p>
<p>Probably the biggest audience for a non-keynote talk today!</p>
<p>Great panelists from all sides of big (and small but very messy) data - healthcare, military, retail, internal productivity and HR.</p>
<p>Turning the huge streams of data captured by new technology into useful information for making decisions or understanding complex systems (from pleasing customers to treating diseases).</p>
<br/><img src='https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBXwjUs6Dn6QLrMTqeFr5sato1G9utEQW-M1AqiI697DQ6dHkDNvS3kExDAZO4Dhp1EXBCxAMJ0IrvyGtJs4Wa9lguuO-v0vG0p7Eqlvlxtm7UNYvZQGK7sbaRR7F2oBOANakdiqlsMTY/' /></div>Ed Bradyhttp://www.blogger.com/profile/17359740075910591659noreply@blogger.com0