Our founding document
July 2, 2009
Over this fourth of July weekend it is important to remember how a simple declaration started a revolution and allowed us to create our great republic. If you haven’t read the Declaration of Independence in a while, take a minute and read the words one more time.
When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.
He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.
He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.
He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.
He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.
He has affected to render the Military independent of and superior to the Civil Power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For quartering large bodies of armed troops among us:
For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:
For cutting off our Trade with all parts of the world:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefit of Trial by Jury:
For transporting us beyond Seas to be tried for pretended offences:
For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies
For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:
For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated Government here, by declaring us out of his Protection and waging War against us.
He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.
He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.
He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.
He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.
Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.
We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.
Is your VC well connected?
June 29, 2009
Two years ago Yael Hochberg, Alexander Ljungqvist and Yang Lu wrote a paper called “Whom you know matters: Venture Capital Networks and Investment Performance.“ This may seem obvious, but their research is very interesting. Erick Schonfeld’s piece today titled, “The Top 100 Networked Venture Capitalist” explores the paper’s findings. He notes the top ten VCs by connectedness:
1. Draper Fisher Jurvetson
2. Sequoia Capital
3. Accel Partners
4. Intel Capital
5. First Round Capital
6. Dag Ventures
7. New Enterprise Associates
8. Kleiner Perkins Caufield & Byers
9. Benchmark Capital
10. Ron Conway
Summer Startup Happy Hour!
June 28, 2009
Join us for the Startup Happy Hour on July 6th (the first Monday after the long weekend). RSVP here: http://upcoming.yahoo.com/event/3012068/
My Twitter Updates for the Week
- @futurelevel Working on the iPhone release of ShopSavvy. Apple turn around on these sort of apps is 17 days. Best case mid-July. in reply to futurelevel #
- Good news, no voter fraud in Iran!: http://www.cnn.com/2009/WORLD/meast/06/21/iran.election/index.html #
- Signing off for the night. Great father’s day! Iranian people in our prayers here in Dallas, TX #iranelection #
- Getting ready to head to MIT tomorrow. #
- RT @KassieHowes In the US, pizza gets to your house before the police. Could be worse, in Iran the Basij beats Dominos #iranelection #
- Going to be in Boston (at MIT) tonight if anyone wants to grab dinner SMS me 214.558.1079. #
- @for_good_cause http://bit.ly/k84C UN in Iran? Never going to happen, not even an option, period. #iranelection #
- Stuck on Tarmac headed to Boston, rain rain go away. #
- Finally landed on Boston, bad weather impacting arrivals. #
- Full day at MIT. Wonder if I will get smarter? #
- Remember the Iran Freedom Rally is at 1PM at City Hall: http://digg.com/u16Utn (I am in Boston, so I won’t be there) #iranelection #
- Did anyone go to the Dallas Iran Freedom Rally? Pictures? #iranelection #
- RT @mikeorren http://is.gd/1b7dq #iranelection - story and picture of Iran Freedom Rally in Dallas today. #
- Great dinner with friends at Legal Seafood in Cambridge - I miss New England. #
- @LevelTen_Colin Went to junior high and high school in western MA. in reply to LevelTen_Colin #
- Back in Dallas. #
- Just finished getting needles inserted into my body. Not sure what I think. Picture: http://www.flickr.com/photos/alexmuse/3661433182/ #
- Changed settings back to normal (i.e. location, timezone and picture) #iranelection jumped the shark. Iranian people still in my prayers. #
- Yo, Dallas Facebook Garage tomorrow! http://bit.ly/vu0Zi #
- Pictures from my trip to MIT: http://www.flickr.com/photos/alexmuse/sets/72157620554877588/ #
- Congress should a) release bills to the public 5 days before voting on them, b) agree to read them before voting on them. #
- @6stringbeliever Not good enough. 72 hours? For multi-thousand page bills? I say a week at minimum. in reply to 6stringbeliever #
- Need Android developer to speak at Mobile Conference in Lexington KY on July 18th - all travel expenses paid. Ping me. #android #
- @WouterPelser In my view acupuncture is a medical treatment, as a Baptist I am comfortable enough with my religion to accept treatment. in reply to WouterPelser #
- @brendanlim Yea, are you interested? Do you have a bio? in reply to brendanlim #
- The barcode is 35 years old today: http://bit.ly/Gzq4f #
- Need 2008 or newer Porsche Cayanne V6 for Michele. Anyone want to sell? #
- Made it to Nacogdoches. #
- Still in Nacogdoches. #
- @texasnate lol - I wish… visiting my inlaws, staying at the Fredonia as usual. Might take a dip in the pool in an hour or so. G&T for sure in reply to texasnate #
Infidelity and Startups
June 25, 2009
Today marriage seems like a fleeting institution, between 30% and 60% of married people will be unfaithful during their marriage. Just yesterday Mark Sanford, the governor of South Carolina, confessed his own adultery in a twenty minute act of self assassination. Bill Clinton eventually admitted his own infidelity and like it or not it has marginalized him forever. Why do we care about someone’s personal relationships? Simple, the amount of trust we place in someone is directly proportional to our expectations of that person.
What does infidelity have to do with entrepreneurs? A lot. When you first start building a business you put quite a bit of trust in your partners. Would you go into business with someone who was actively cheating on his wife? In general I would hope your answer would be no. If someone was willing to betray their spouse, would it be a stretch to think they might betray you? Despite this obvious point, many entrepreneurs choose to ignore the personal foibles of potential partners. This may seem to be the mature decision - i.e. someone’s private life should remain private, but it isn’t necessarily the smart decision.
Investors do quite a bit of checking into the entrepreneurs they back. Credit checks, background checks, interviews with classmates from college not to mention your Facebook page and Twitter account. You would be surprised what they dig up. The amount of money they are planning to put at risk is directly proportional to the level of diligence they will conduct on you and your team. Several investors I talked to were quick to suggest they would punt on an investment in a company with a key employee who was committing adultery. One investor told me he would make the investment, but actively seek to replace the unfaithful founder. Another suggested he might put a morals clause into the founder’s employment agreement to take advantage of the founder’s weakness. Eric Engineer, with Sevin Rosen Funds here in Dallas explained,
“It would certainly make me question his trustworthiness as a business partner and significantly hurt his chances of an investment. I’ve found that people who regularly lie start to feel comfortable doing it; so even if that pattern of behavior starts in his personal life, it’s likely to bleed into his business dealings with employees, customers, partners, and investors.”
Charlie Humphreyson, a venture partner in HO2 and an entrepreneur himself suggests,
“Fidelity/Adultery is a personal issue and a character issue. It is the responsibility of the investor to do his/her due diligence and put context around an investment. Just as a product needs context in the market, character issues need context as well. I expect intellectual honesty and openness when it comes to entrepreneurs and so my willingness to invest would be based on how I learned about the adulterous situation and how the entrepreneur communicates. Just as in politics (Clinton, Spitzer, Edwards, and now SC Gov, etc.) performance on the job is rarely affected by fidelity, but trust affects everything. In the end, investment decisions are based on confidence the investment will be in the hands of good stewardship and the risks the investor is willing to assume.”
Being an entrepreneur is risky enough, why add additional risk by going into business with people you know to be dishonest; even if that dishonesty only manifests itself in your partner’s personal life. If there is a good reason for his infidelity (is there ever a good reason?) you should consider how customers, key employees or investors would react if they were to learn of his various skeletons.
Non-Compete Agreements in Texas
June 22, 2009
First, lets dispel the myth that non-compete agreements in Texas are invalid - it isn’t true. Employees explain to me time and time again that “Non-compete agreements are not worth the paper they are written on here in Texas.” The Texas Supreme Court disagrees, since 2006 ruling that non-compete agreements ARE enforceable. I believe the Texas Legislature should act immediately to outlaw non-compete agreements for non-owner employees. Why? Non-compete agreements are bad for business.
Scott Kirsner’s piece in the Boston Globe yesterday titled, “Startups stifled by noncompetes” is a great reminder, that while legally valid, non-competes are a bad idea for business. Scott tells a story of a 3D video game artist who had to leave Massachusetts to escape a non-compete. Ironically, the company he escaped to was in Austin and even more competitive to his former employer than the company he wanted to join in Boston.
Theodore Anderson’s article titled, “Is Texas Handcuffed by Employment Non-Compete Resitrictions?” explains,
Texas is not alone in excepting from antitrust laws limited non-compete provisions. But in other states like California, home of Silicon Valley, these contracts are unenforceable. Indeed, it is now conventional wisdom among scholars that non-compete agreements restrict employee mobility and innovation. In 1965, an area called Route 128 in Massachusetts had approximately three times more total technology employment than Silicon Valley. Massachusetts, like Texas, enforces non-competes. By 1975, Silicon Valley tripled Route 128 in technology employment. Scholars blame the non-competes.
Massachusetts lawmakers are considering two bills, one that would eliminate non-competes entirely and another that would limited them to employees making $100,000 a year or more. Scott points out Michigan’s experience with non-competes explaining, “During the decades of that state’s greatest economic growth, from 1915 to 1985, noncompete agreements were illegal.” By 1985 the party had ended and non-competes were allowed and Michigan’s economy has gone into the crapper - of course Michigan has other problems.
Non-compete agreements hurt startups specifically because employees with non-compete agreements are less likely to join a startup than another larger company that might be better able to defend them against litigation from their former employer.
What can you do? First, don’t sign them. Second, if you must sign one - actually find an employment lawyer and have him review it. No really, take the contract to the lawyer and ask him to explain whether or not it is valid and have him suggest potential modifications. Finally, email your state legislator and ask him to pass legislation making non-compete’s illegal in Texas.
My Twitter Updates for the Week
June 21, 2009
- Lots of people dying in Iran today. Not much US coverage, no comment by Obama. #iranelection #cnnfail #tcot #
- RT @jayran English translation of Mousavi’s latest statement http://bit.ly/IOInY #iranelection #cnnfail #tcot #
- RT @ViewsNews pictures #iranelection http://twitpic.com/7c85l AND http://ow.ly/e11H #cnnfail #tcot #
- rt @parhamdoustdar: Watch Ahmadinejad’s speech on http://simpl.es/iiV6l It’s maddening. #IranElection #CNNfail #tcot #
- The internet was cut in Iran this weekend. But, SMS still worked (i.e. the revolution was twittered): http://digg.com/d1tksN #cnnfail #tcot #
- #CNNFail: Twitterverse slams network’s Iran absence http://bit.ly/D93QW #
- RT @NYPhilanthropy: Amazing Pictures http://bit.ly/Fjjcn from protests in Tehran #iranelection #CNNfail #tcot #
- RT @dabloguiman: COVER IRAN NOW!!!! @CNN @CNNbrk @CNNWORLD #iranelection #CNNFAIL #tcot #
- Ayatollah Saneyi is in house arrest & his office phones lines answered by ministry of Intel #iranelection #cnnfail #tcot RT @charyl #
- The best news sources for #iranelection coverage BBC, AlJazeera and Fox - MIA? CNN, ABC, NBC and CBS #cnnfail #tcot #
- RT @innov8ion In not so startling news, CNN is poised to change its name to the Iranian News Network (INN.) http://is.gd/11Ptd #cnnfail #
- RT @rerevisited Amazed at the amount of #cnnfail tweets. Did you ever rely on the mainstream news media? CNN isn’t failing, it’s just CNN #
- “A real entrepreneur is somebody who has no safety net underneath them.”
- Henry Kravis # - “Most new jobs won’t come from our biggest employers. They will come from our smallest.” - Ross Perot #
- Love to connect with each of my Twitter friends on Facebook: http://www.facebook.com/alexmuse My political stuff is there. #
- “If the only prayer you ever say in life is ‘Thank you’. . . that is enough.” - Meister Eckert #
- Anyone know who sells corrugated plastic (4′x8′) sheets in Dallas? #
- Thousands of Iranian’s were in the streets today demanding freedom - http://digg.com/u15mf5 #iranelection My advice, pray for them. #
- Follow members of twitter who are tweeting about Iran: http://freeiran.floxee.com/ #
- “I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.” - Alexander the Great #
- “To succeed in life, you need two things: ignorance and confidence.” - Mark Twain #
- “In a time of universal deceit, telling the truth becomes a revolutionary act.” RT @StopAhmadi #iranelection #
- OMG - ABC turning over programming to Obama on the 24th? http://drudgereport.com/flashaot.htm #
- Check out http://tweetpsych.com/ - using your tweets to build a psych profile of yourself (or your friends) #
- Reuters #iranelection coverage is now subject to a ban on media leaving the office to report, film or take pictures in Tehran. #iranelection #
- “Why did the turtle cross the road? To get to the other side of a stimulus project” - Sen Coburn #
- RT @LucieTic Help hide Iranian protesters - change your twitter location to Tehran and time to +3:30 GMT #iranelection #
- “Those who deny freedom to others deserve it not for themselves.” - Abraham Lincoln #iranelection #
- “Those who expect to reap the blessings of freedom, must, like men, undergo the fatigue of supporting it.” - Thomas Paine #iranelection #
- “Liberty means responsibility. That is why most men dread it.” - George Bernard Shaw #iranelection #
- “Freedom is the right to tell people what they do not want to hear” - George Orwell #iranelection #
- Please retweet: just signed petition ‘Google Earth to update satellite images of Tehran ‘ - http://301.to/23o #
- Big in Japan is looking for iPhone developers (must be based in Dallas) send resume to support@biggu.com #iphone #android #
- @CabdaddyGPS One million dollars. LOL. I might be able to refer you to someone who might be a good adviser, come to happy hour… in reply to CabdaddyGPS #
- Need names of companies that do retail price checks - employees go into stores and document prices - RetailData LLC is the only one I know. #
- Dallas Startup: RT @bacontwit Updated website - we’re now accepting beta registrations. http://baconaid.com/ #bacn #beta. #
- More than a million Iranians have participated in protests around the country: http://digg.com/u1671L #iranelection #
- LOTS of great applicants for the Big in Japan iPhone position! Thanks Twitter! http://digg.com/u1671n #shopsavvy #iphone #
- @zbowling Love to have you down to our offices. Got any time to hang out tomorrow? in reply to zbowling #
- @zbowling Ah, thought you were in Richardson. We are in Dallas. Sorry about that. :) in reply to zbowling #
- “Faced with what is right, to leave it undone shows a lack of courage.” - Confucius #iranelection #
- @zbowling Sad to see you go. We are trying to build a Dallas startup scene - hard when you guys keep leaving. #springstage in reply to zbowling #
- @MeterRead_App Cool, how many total users now? in reply to MeterRead_App #
- EO (formerly YEO) asked me to rejoin. Considering it. Ten years ago I got all the benefit, this time maybe I give back? #eo #
- http://bit.ly/I5f8G
Line at the Apple store on Knox this morning… # - Got my 3gs http://www.flickr.com/photos/alexmuse/3640787469/ #
- Democracy rally on Tues from 1-3 pm at #DallasCityHall #iranelection Pls RT. Volunteers needed contact Shawn rxa2929@gmail.com #
- Before you get you new iPhone, Microsoft has a 35% discount code for use at ATT: http://digg.com/u16D2T #
- Explosion at the Shrine of Iatola Komani, thousands of police surround protesters today #iranelection #
- Iran state police are blocking protesters from Freedom Square #iranelection http://bit.ly/uOlwY #
- Iranian people claim government planted bomb at Shrine to reduce popular support of freedom movement. #iranelections #
- Iranian State TV says protests were canceled, but protests are still going on. #iranelection #
- Iranian State Run TV pretending everything is fine, situation normal. Our MSM is annoying, but at least it is free. #iranelection #
- Mousavi threatened to go to shrine if recount wasn’t done, theory is government blew it up to preempt him. #iranelection #
- @mkhill Their goals? The Iranian people want freedom, self-determination - same thing all people want. #iranelection in reply to mkhill #
- Blogger from Iran’s last post: http://digg.com/d1uKUO #iranelection #
- RT @blueangel56 Sources Confirm: BASIJ ARE AT HOSPITALS. GO TO EMBASSIES IF INJURED… HOSPITAL = DEATH #iranelection #
- RT @tgiovanetti: Don’t underestimate importance of new democracies in Iraq and Afghanistan as influences on the youth in Iran. #iranelection #
- RT @SashaKane Voice of America and Radio Farda are being jammed in Iran #iranelection #
- RT @CarrieCornish British embassy is now accepting injured Iranians: 198 Ferdowsi Avenue, Tehran. #IranElection #
- RT @charleybemore Canadian Embassy ACCEPTING injured http://is.gd/17Ged Go in Groups, Basij blocking routes #IranElection #
- Flickr picture set from today’s protests in Iran: http://digg.com/u16HEG #iranelection #
- @iransource is an agent of the Iranian government - block them. #iranelection in reply to iransource #
- مردم ایالات متحده آمریکا با مردم ایران بایستد ، صرفنظر از آنچه دولت ما کند. #iranelection #
- OMG check out this site thats getting me TONS of followers a day, It actually WORKS unlike other sites: http://tinyurl.com/lmqtlr #
- RT @austinheap: *PERSONALLY CONFIRMED FROM #IRAN* Tanks have rolled in Tehran … #iranelection #
- The world expects America to stand for freedom, period. #iranelection #
- RT @FairyKingAub CNN: Terrifying Video Of Nighttime Home Invasion In Iran http://bit.ly/VgB02 #IranElection #
- RT @mashable Iran Election Crisis: 10 Incredible YouTube Videos http://cli.gs/PEzSsM #iranelection #
US Power Projection
June 19, 2009
It isn’t too hard to understand why much of the rest of the world resents America - they resent our wealth. For example, North Korea announced they would be firing a ballistic missle toward Hawaii next month. To answer this threat our military simply floated in a MASSIVE sea based x-band radar system (SBX) into Hawaii. The size of the anti-missle system is simply unbelievable. Evidently it can track a baseball a continent away. Hopefully it will work. Any nation that can field this sort of defense is bound to be hated, envyed or resented.
Iranian Freedom Rally Details
Our friend Vahid Bahzadi is organizing a Democracy Rally in support of the Iranian people. The event will be next Tuesday between 1-3PM at Dallas City Hall. If you want to volunteer to help just ping Vahid at Vahid.Behzadi@CyberCoders.com or Shawn Amoei at rxa2929@gmail.com.
We are planning to attend. If you can join us, wear a green t-shirt in solidarity with the Iranian people. If you can’t attend think about wearing a green shirt anyway. Millions of Iranians have risked their lives over the past week attending rallies in support of democracy - while our lives aren’t at risk it is our obligation as a free people to support people who are not free. As Thomas Paine said, “Those who expect to reap the blessings of freedom, must, like men, undergo the fatigue of supporting it.”
Venture Capital to be Regulated?
June 17, 2009
Earlier today, Obama’s team rolled out an 85-page document that lays out his plan to regulate the private equity and venture capital businesses. The plan creates three new agencies to oversee hedge funds, private equity funds and venture capital firms. Of course this drives me nuts. The reasons for our current situation are largely related to HEAVILY regulated businesses including insurance companies, banks, investment banks and mortgage companies. The systemic problems we are facing are NOT a result of venture capital firms. VCs have no leverage, don’t trade public securities or hold deposits for ordinary Americans. The Venture Capital business is one of the reasons our economy is so successful.
Why don’t we focus on what is broken instead? Why not reform the way investment banks can use leverage. Why not limit the percentage of the market a single insurance company can have? Our government’s existing regulators failed to recognize systemic risks that seem patently obvious today. Why hire a bunch more to regulate an industry with very little potential systemic impact? Is this Obama’s jobs program? Newly minted Ivy League grads who can’t find work on Wall Street will now be able to head to Washington to oversee the demise of American’s innovation engine - Venture Capital.
I don’t care if you are a Republican or Democrat - hopefully you are an entrepreneur (or love one) - if so call your Senator and Congressman and ask him NOT to pass Obama’s plan.
iPhone 3.0 Bugs!
Dave Rutledge from Woot (i.e. the guy that hasn’t returned my calls over the past year) found a number of bugs in the iPhone 3.0 release. Wow, that was fast. Anyway here they are:
- Multimedia messaging does not support sculpture, macrame, or interpretive dance.
- Voice memo recordings totally don’t sound like me. I don’t sound like that, do I? Seriously?
- Turned on adult content filter but everybody in my videos still has their clothes on.
- Adding a task to calendar did not result in task getting done.
- Clicked this blue “compass” icon but kept getting some stupid web browser.
- Still no apps to cure the nagging feeling that I should’ve bought a Palm Pre.
- The touchscreen is now on the back of the phone instead of the front.
- Gone to the bathroom four times already today, and Remote Wipe hasn’t worked once.
- Spotlight search crashed with memory overload error trying to index my Harry Potter cosplay photo collection.
- Tried out tethering, but I think I broke my finger smacking that phone around the pole.
- Apple still hasn’t fixed the no-hardware-keyboard bug.
- “Cut” function does not apply to monthly AT&T bill.
From the Woot! Blog. Oh, and Dave, call me sometime - 214.550.2003. :)
Startup Profile: Traxo
We’ve known Andres and Andy with Traxo for quite a while. In fact they were the first company to cowork at the Big in Japan offices back in July. Since that time a lot of exciting stuff has happened with their team.
Traxo (www.traxo.com) is a travel service that allows users to automatically collect their travel itineraries from popular travel sites and share their upcoming and past travel plans with trusted friends. Traxo shows you where your friends have gone and which friend you should contact to ask for travel recommendations. Traxo also allows you to keep up with where your friends are going and alerts you when your travels are about to overlap with someone you know. The site is currently in private beta and will be launching publicly later this Summer.
Traxo was one of 50 companies selected for the fbFund. fbFund is a $10 million fund providing seed capital and mentorship to companies building applications that interact with the Facebook. The fund is backed by Accel Partners and Founders Fund and administered by Facebook.
They were over 400 applicants and Traxo was one of only three travel companies and the only company in DFW to be selected as a Finalist. Here’s a list of the other finalists.
Traxo focused on building a two-way Facebook integration that 1) allows users to bring their Facebook information and social graph to Traxo and 2) also allows members to share their travel plans within Facebook. Traxo knew Facebook would be a great fit when the team noticed that a tremendous amount of what their friends were sharing on Facebook was travel related.
Twenty out of the fifty companies selected will also be participating in their 2009 REV incubator program (similar to Y Combinator and Techstars). A total of $500K in seed funding was awarded to this class of winners in the form of convertible notes with a discount for future rounds (vs. last year where winners received non-recourse grants).
We’ve literally watched the Traxo team hard-at-work so we’re happy they’re being recognized by Facebook as a top social application. It’s basically like getting the ‘Good Housekeeping’ seal of approval for the social media space. And not surprisingly it has opened the door to a number of new partnership and investor discussions.
When I spoke with Andy this week he and Andres were traveling to Austin. He asked me to mention that if anyone is thinking about applying for the next round of the fbFund they would be more than happy to share any of their insight and experiences.
| Based: |
Dallas
|
|---|---|
| Founder: | Andres Fabris and Andy Chen |
| Title: |
Co-founder
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| andy.chen@traxo.com |
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| Twitter Profile: | http://twitter.com/traxo |
| Company: | Traxo |
| Web Site: | http://www.traxo.com |
Off-Topic: Iran and Freedom
June 15, 2009
Sorry for the off-topic post, but I have had little else on my mind these past few days. When I was a senior in High School I watched with millions of other Americans as Chinese students stood up for freedom in June 1989. Their revolution was short lived, but it made quite an impact on my life. I will never forget the image of the sole man standing against the line of takes in Tienanmen Square:
The same sort of revolution is going on in Iran today. Millions of Iranian’s are asking, “Where is my vote?” The fact that Iranians are on the streets demanding their freedom is heart warming. I am frustrated that our leaders have decided to stay silent - to avoid upsetting the defacto regime. While this may be the ’smartest’ thing to do, it certainly isn’t the American thing to do. At the very least we should be voicing our support for the Iranian people and their struggle against oppression. I don’t believe the notion that some people (Muslims) just can’t be free. It is perhaps the most offensive and frustrating argument I have heard.
While tens of thousands of Iranian’s took to the streets, at great danger to their lives, our own citizens took to our streets to ‘celebrate’ their team’s victory at the Staples Center. I couldn’t help but compare the two events. On the left, Iranians fighting for their freedom, on the right idiots rioting for fun:
How can we (and our elected leaders) simply remain silent as millions of people fight for their freedom? How come our citizens have the time, energy, desire and freedom to riot because their team won? I makes me sick. I want leaders who stand up for freedom. The French people risked their lives and their treasure to help our forefathers gain their freedom - too bad we are no longer willing to do the same for our fellow man in Iran. I don’t know what the right answer is - but at least we should voice our support. I guess that is why I am writing this post, to voice my support for the Iranian people - you are not forgotten - we hear you and we pray for your safety and your ultimate victory over oppression.
The best photos are from the Boston Herald.
My Twitter Updates for the Week
June 14, 2009
- Headed to church. Looking for a good church? Try ours: http://www.wilshirebc.org #
- At a certain point, I just felt, you know, God is not looking for alms, God is looking for action. - Bono #
- Best live Apple WWDC coverage: http://live.gizmodo.com/ #
- ShopSavvy Country Manager Training Video No. 1 Completed! #
- “Some cause happiness wherever they go; others whenever they go.”
- Oscar Wilde # - Sotomayor is broke? Living paycheck to paycheck? Over $2.3 million in debt? I don’t see the problem, she will fit in perfectly. #tcot #
- @stevebrewer The only thing I can find: http://polipundit.com/?p=20488 The other reported numbers were from TV #tcot in reply to stevebrewer #
- @jfchessa $1.1MM HER estimate of the value of her condo. She lives pay check to pay check - not exactly smart. in reply to jfchessa #
- “I don’t miss the economic insecurity, the living paycheck to paycheck.” Drew Carey (evidently Sotomayor doesn’t mind) #tcot #
- @AngstyAtLarge Already did that. Shocked about the finances to be honest. #tcot in reply to AngstyAtLarge #
- Apple WWDC was very cool, only complaint? TUCK IN YOUR SHIRTS! What is up with the untucked shirts? http://digg.com/d1tIN6 #
- @Houssein @samiTunis Not so… ShopSavvy will be released on iPhone either later this month or next http://digg.com/u15BRu in reply to Houssein #
- “I consider it part of my responsibility as President of the US to fight against negative stereotypes of Islam wherever they appear” - Obama #
- “You know, my faith is one that admits some doubt.” - Barack Obama #tcot #
- @Rhymo Rock, installing now! Long live Android! in reply to Rhymo #
- Palm Pre next to HTC Magic (Android): http://digg.com/u15DxF #
- http://digg.com/u15ElN Non-VC Admissions Presentation - worth a laugh… #
- @jakelumetta Stock smudges… LOL Smartphones are fingerprint magnets! (i.e. not just a Pre problem). palm in reply to jakelumetta #
- @zootm Thanks for the ShopSavvy mention! Great quote, can we use it? in reply to zootm #
- RT @zootm “Ok ShopSavvy is possibly the most practical app I’ve used on a mobile device. Highly recommended.” #
- We have four open spots on the iPhoneDevTeam. Ping me if you want to learn more. http://bit.ly/12fkgL #
- My business partner in http://architel.com is looking for DFW area companies with 20-200 employees - got any leads for him? #
- Need someone to conduct a network audit in Dallas, email sryan@architel.com if you can help. #
- “For those with faith, no explanation is necessary. For those without, no explanation is possible.” –Thomas Aquinas #
- I need a drink before I head to 90+ degree heat to watch 7-9 years play baseball. #
- Anyone have http://www.summation.com/ experience? Architel needs five summation experts in Dallas. Email sryan@architel.com #
- Nice ShopSavvy post on TechCrunch this evening: http://digg.com/u15Hcd #
- “The secret of success in life is for a man to be ready for his opportunity when it comes.” - Benjamin Disraeli #
- Check out the Big in Japan Flock: http://biginjapan.floxee.com/ Made up of Big in Japan employees… #
- For those of you who have been asking me about Wave: http://bit.ly/5VBbW #
- “Give me control of a nation’s money and I care not who makes the laws.” - Mayer Amschel Rothschild #tcot #
- Looking for SMART game developer to join Big in Japan. Java + Objective C would be great (i.e Android and iPhone). #
- Headed to lunch with the CEO of NeoSpire - preparing for inspiration! #
- Wow, this lunch date seemed smarter when it wasn’t raining. Crazy rain here in Dallas. #
- @CabdaddyGPS Publishing project for Big in Japan? Feel free to call me 214.550.2003 in reply to CabdaddyGPS #
- I heard a rumor we might be getting an offer on our second house! Please pray for a quick close. #tcot #
- EcoHero is hopping. Brand that wants to turn green? Call me ASAP. http://bit.ly/FYf5p #
- Headed home for the day, hopefully I don’t float away. #
- @Edgar_Rodriguez Feel free to call me anytime. 214.550.2003 in reply to Edgar_Rodriguez #
- Headed to SparkStart in Irving. #
- Anyone have a custom software development agreement that favors the client? Email to amuse@biggu.com if you will. Thanks! #
- I need to set my alarm to remember to get a Facebook vanity name. http://www.facebook.com/username/ #
- @seanthinks your should do a free ecordia program for SpringStage. If it works I will get all of the catalysts to pimp your program. in reply to seanthinks #
- Letterman officially ‘jumped the shark’ this month. #tcot #
- iPhone users, please take photo of barcode on item, no farther than 3 inches, name file the actual barcode number, send to support@biggu.com #
- More on how iPhone users can help launch ShopSavvy on iPhone: http://digg.com/u15Yho #
- RT @mashable Twitpocalypse NOW! Twitter App Armageddon Strikes http://bit.ly/15pfnz (via @tweetmeme) #
- Our support email is back: support@biggu.com - sorry about not being supportive… :) #shopsavvy #
- Okay, 2nd try. Help us launch on iPhone by taking photos of barcodes with your iPhone, here are the details: http://digg.com/u15Yho #
- Got my facebook vanity name: http://www.facebook.com/alexmuse/ - couldn’t get /amuse/ for some reason. Anyway, rock. #
- @rogersanchez Strange, wonder why the / won’t work. Anyway, http://www.facebook.com/alexmuse in reply to rogersanchez #
- Ethan’s team won its last baseball game of the year (their only win - 17-3). Thank God (they won and it is over). #
Failure shouldn’t be your goal
June 11, 2009
Jason Fried’s recent talk at Big Omaha caught the attention of David Cohen (my partner in SpringStage). In his talk, Jason railed against the recently popular meme among entrepreneurs, “Fail Early, Fail Often!“ He suggests, ‘this industries obsession with failure has got to stop.‘ Check out the video here:
David suggests that Jason might be offering a red herring:
“I think there is some confusion here between “fail early, fail often” and “fail fast.” Failing fast is about the case where you’re on a path that is going to fail and the writing is on the wall. In that context, failing the company fast makes sense.
When people say “Fail early, fail often” I think they generally mean something different. Of course people aren’t encouraging you to go out and start companies that fail just for the experience of it as if it somehow makes you stronger! Rather, it’s about testing and trying until you get it right - generating an overall success. Think little failures, early and often, and you’ve got the right context for “fail early, fail often.”
That’s what was bugging me. To me the two sayings are used in completely different contexts. Am I right? What does “fail early, fail often” mean to you, vs. “fail fast”?”
Failure shouldn’t be your goal, but doesn’t have to be fatal. David notes, “Asian culture has historically made it shameful to fail.” Failure allows an entrepreneur to push the ‘reset’ button and start over. If your culture has no such ‘reset’ button the risks entrepreneurs will be willing to take will be MUCH smaller - if failure isn’t an option you won’t take risks, period.
Jason suggests that there is this perverse notion among entrepreneurs and investors, “that you should fail a few times before you succeed.” David contends that he has NEVER come across anyone who thinks like this (me either). Failure is a reality in the startup world - the 90% failure rate is NOT a myth. The point is that we shouldn’t let failure stop us from trying.
I think Jason may be suggesting that too many entepreneurs give up too quickly. Of course he is right. Giving up quickly is not a recipe for success. Maybe the meme should be “Take Big Risks Early and Often and Don’t be Afraid to Fail.”
