December 15, 2012
inTooch Teamed Up With MobileLoco: Users Can Exchange Data On The Fly
inTooch, a mobile application that supports both Android and iPhone, easily and seamlessly allows you to instantly exchange contact and social network information on the fly.
inTooch teamed up with San Francisco-based Mobile-Loco this past week, an event that explores the convergence of brands, advertising and mobile.
Attendees were encouraged to download the free mobile app, so they could quickly exchange all their contact information or a portion of it with new people they met at the event, including their social media network data.
Whenever you meet someone you want to stay in touch with, you simply call the person, the app detects that you have called them for the first time and prompts you automatically to exchange your contact information, giving you the option to exchange your Twitter, Facebook and LinkedIn details as well.
Since geo-tagging is built in, the inTooch app tracks where connection requests are made and will link all connection requests to the location, in this case the Mobile-Loco event in San Francisco, CA. When users browse through their connections, they can see all the connections they made at Mobile-Loco. After the event, inTooch will also send an email to each user who sent a connection request during Mobile-Loco with the list of all the contacts they met at the event, resulting in a more efficient way to follow up and turn contacts into relationships that matter.
A useful augmented reality feature, which is popular for personal encounters, is a report that informs you of all the things you have in common with that person (friends, places you visited, music, movies you like, social network info, check-ins, interests you share).
Unlike most apps, inTooch works regardless of whether the person you just met has it on his or her cell phone, making it the most natural, straight forward and easy way to share your personal or business details. inTooch is available for download at http://www.intooch.com and is free for users. Currently, inTooch works with both the Android and the iPhone, with support for other platforms and mobile devices coming later this year.
Photo above is of inTooch's CEO Julien Salanon on the MobileLoco stage.
Disclosure: I provide some consulting to inTooch.
December 15, 2012 in America The Free, Client Announcements, Client Media Kudos, Conference Highlights, Events, On Geo-Location, On Mobile & Wireless, On Technology, Social Media, TravelingGeeks, Web 2.0 | Permalink | Comments (0) | TrackBack
December 14, 2012
LeWeb's The Internet of Things: From Lightbulbs & Robots to Augmented Reality Apps & Air Quality
From a couple of hundred attendees in the first year, they had 5,000 attendees this past year alone for both their London and Paris events, London being a test, something that they plan to continue doing in the years ahead.
They attract big players like Orange, Microsoft and others and mid-tier players known in Europe and beyond, like Parrot, as well as tons of start-ups eager secure funding and entrepreneurs looking for the next big thing. It's also an incredible place to "schmooze" on the floor at the event itself as well as the umpteen after parties and events they hold in the evenings throughout the center of Paris.
I returned to San Francisco from an exhausting trip of meetings and pow-wows to hear that LeWeb was acquired by Reed MIDEM, one of the leading events organizers in the world. How that changes the format of LeWeb moving forward is yet to be seen, but more budget and marketing should 'in theory' lead to more "high-touch" events, better food and higher profile speakers. That said, it could also drive ticket prices up.
Acquisition aside, Loic and Geraldine LeMeur managed to pull off yet another fabulous event, from A-list speakers to entertainment and networking.
So, who showed up there and unveiled their latest?
Parrot's CEO Henri Seydoux, who I had an opportunity to meet several years ago when they hosted the TravelingGeeks trip I organized to Paris, was as charming as ever on the LeWeb stage in an interview with Loic LeMeur.
Within LeWeb's theme of the "Internet of Things," he made what could have been a 'faux pas' by saying that you can't reference women as things or you'll be in trouble for a long time. It didn't turn into a faux pas though at least from what I could tell, since everyone laughed -- including women. I happen to like their products and team. As an aside, rumor has it that his actress daughter played a role in the latest James Bond film. Ahh yes, the things you learn at LeWeb.
Chris Shipley ran the start-up event; the finalists were: Be-Bound, Qunb and Recommend.
Be-Bound gives you access to the Internet without wifi, aka stay connected to the web without the Web.
A stat for the taking: 3G/WIFI = 14% and 2G = 86%. These guys use the SMS layer. Their business model is using prepaid credits called B-Miles. For example, 3 Euros = 35 Be-Miles, 10E = 200 Be-Miles and so on. They'll also use advertising and couponing to drive revenue.
Their objective is to reach 3.2% of this business over the next 3 years. They said on stage, “our business is cash generating. We hope to achieve cash-even in three years.”
Qunb's platform is all about quantitative data. The idea is you can now visualize and broadcast your own data! How it works: their platform understands your data semantically so your data becomes compatible with other data so they can make sense of each other. They’re going after large corporations who are willing to understand their data and compare it so it makes sense in a meaningful way. Currently, their product is featured on the SAP marketplace.
The last finalist was Recommend, which is a platform that gives you recommendations from people you trust. There seems to be a lot of 'recommendation engines' out there, so I thought this one had the least potential from running a sustainable business in the long run vis a vis the others.
Their pitch is quality not quantity: recommendations from friends only in your network. (friends + friends of friends). They say they will succeed because it’s viral and sticky, sticky because it’s recommendations for every day things and apparently there's also notifications for extra 'value.'
Then, Team Blacksheep gave a demo - well sort of. A flying plane was let loose in the LeWeb audience. The TBS DISCOVERY frame is an upgrade for all Flamewheel F450 frames, using F450 arms and a custom TBS top and bottom plate including power distribution board. It's cool to watch and for geeks who are interested in this, apparently easy to build.
I thought that Netatmo's concept was interesting - they're offering a personal weather station for the iPod and iPad, where you can monitor weather and air quality. Says the team, "we spend 80 percent inside - our lifestyle is indoor and we have to think about indoor air quality as well as outdoor air quality." They have created a weather station to monitor inside and outdoor environments and then they send this data to the cloud.
The team showed real time data across a map of Paris where we could see weather patterns across different sections of the city. They take measurements of environment and are using crowdsourcing to bring this data to people in a way that is usable and "useful."
They think that real estate prices will rely on data like this and can impact prices and other things. The more co2 you have, the more dense your space is, which decreases the quality of your air.
Then, MG Siegler interviewed Instagram's Kevin Systrom, who's always at his polished best. I saw him a few months back in a similar "question exchange" with Sarah Lacy at one of her PandoDaily events in San Francisco.
Polished aside and interesting app or not, I still just can't get over or accept that their app could have been worth $730 million when the Facebook acquisition 'completed' back in September or ever could be. And, I'm a serious photography geek and still don't 'get it.'
Stephanie Hospital and team at Orange hosted a power girls networking bash one afternoon, which I ironically went to with Yossi Vardi, most definitely not a woman.
While it was indeed mostly women, a few male stragglers were there including French photographer Olivier Ezratty who is working on a photo exhibition of powerful women in the digital age. I'll share the latest as his work progresses. He also does a wonderful round-up of LeWeb every year, so check out his coverage here.
Speaking of Yossi, he gave a talk on things start-ups need to think about and tips of the trade. He says, "Pivoting is important because of the feedback you receive along the way, however doing more than 2 pivots is bad."
Additionally, he encouraged young entrepreneurs to network more often, always look for ways to provide value, and to try to find a funder from a mutual contact (someone you trust and someone the funder is likely to trust). He says of investors, "they need assurances and recommendations from people they trust." His main source of deal flow is through friends with credibility.
On exits, he says there's a big debate in Israel at the moment about whether early exits are good. Pros and cons, he notes. Having an early exit leaves a lot of value on the table but if you want a bigger exit, later...you obviously increase the risk because it will take more time.
I also ran into Stephanie Czerny who is one force behind the DLD Conference, held every year in Munich Germany. If you haven't been, you MUST - I keep meaning to return it was so good, if only January didn't present so many deadlines. I love these guys! Not only is the content and networking top notch, but their hearts are in the right place -- they're doing great things for the industry and world.
In the main room, we then moved into physical objects, you know, real tangible products you can feel. The team from Sphero gave a demo on stage of their robotic ball, which has mechanics and two way wireless communication.
They're using 6 axis IMu (essentially a navigation system) so they know where Sphero is going. Think of it as a robotics gaming system.
They said on stage, "We think there's a continuum where games live inside augmented reality and we're trying to mash and bridge the virtual and the real." He adds, "a system of this nature requires strong computational power and you have to build interfaces in virtual and physical world."Ubooly also wants to bridge this world, but for kids aged 4-9. CEO Carly Gloge was on the LeWeb stage showing a stuffed animal that comes to life when an iPhone is stuck inside it using voice recognition.
The "toy" suggests games to the kids in real time and gives feedback on their participation based on the phone’s accelerometer. Price point is cheap and perhaps one of the reasons, it seemed to receive positive feedback. Current going price is around $29.95.
Lockitron also got quite a bit of buzz at the event and apparently others think its cool too - they've already placed some $2.2 million in pre-orders for the device.
The device is a smartphone=controlled keyless door lock. You can reserve one with a shipping date of late May 2013 for $179.
I hung out with the HAPILABS guys who were showing off their HAPIfork, which will be unveiled at CES next month. The HAPIfork is an electronic fork that monitors your eating habits, giving you precise information about your eating schedule and alerting you with the help of indicator lights and a gentle vibration when you are eating too fast.
Below is CEO Fabrice Boutain showing off their first prototype.
The other cool thing I saw was Australian-based LIFX, a revolutionary new lightbulb that takes something that we all use in our homes, and makes it smarter and more efficient. It was launched on Kickstarter, where they raised over $1.3 million.
The LIFX lightbulb is a WiFi enabled, multi-color, energy efficient LED light bulb that you control with your iPhone or Android. How cool is that? See the below video to learn more.
I had an opportunity to meet and chat with the founder of San Francisco-based ReAllocate, who is not about launching a new social media apps or anything that will connect things to the Internet or the Internet to things.
ReAllocate is a global network of engineers, designers and entrepreneurs empowering under served communities through technology and innovation to improve quality of life. I love what they're doing!
They call themselves "ReAllocators" and they engage in digital storytelling to inspire participation, promote collaboration, and raise awareness about humanitarian causes. I hope to visit them state-side.
They supports three program areas that intertwine to create an infrastructure that supports sustainable development through education, ecosystems, equality, and economics. Learn a little bit more about what they're doing in Alaska and in Japan.
I also had fun hanging out with the UK Trade & Investment folks as well. Did I mention all the after events? It's no wonder everyone who ventures to Paris every December for LeWeb is so happily wiped out at the end of it - fois gras, French bordeaux, dark chocolate, crepes, fabulous coffee and more.
In traditional Loic and Geraldine style, they managed to nail a top notch act for the speaker dinner. Four girls in an act called ESCALA wowed the crowd with their violins and energy. See my write-up on them in We Blog the World's Music Section.
The Dublin guys also did a meet-up at a place called Delaville Cafe on Boulevard de Bonne Nouvelle. It's a place my Paris buds didn't know about, but the ambiance was great, especially for group gatherings. They too do great things for the industry between their Founders event, Dublin Web Summit and other initiatives. And, I have to admit, like the French, I have a soft spot for the Irish and I love Dublin.
Yet another successful LeWeb, an event I look forward to every December. Loic and Geraldine know how to curate an incredibly bright group of people who are working on things that will help shape technology as we know it and as a result, life as we know it.
I love the initiatives coming out of Europe and LeWeb is the best place in Europe for that global conversation that bridges what's happening on the continent and the rest of the world!!
For hoots, check out my review on UBER's launch at LeWeb (aka in Paris) last year, my LeWeb round-up from 2010, as well as a fun post from 2006 praising the food, suggesting that American conference organizers could learn a lot from their French counterparts.
December 14, 2012 in Conference Highlights, Europe, Events, On France, On Innovation, On Mobile & Wireless, On Robotics, On Technology, Social Media, Videos, WBTW, Web 2.0 | Permalink | Comments (0) | TrackBack
November 27, 2012
VentureBeat's Annual CloudBeat Event Kicks Off This Week
VentureBeat's CloudBeat 2012 kicks off tomorrow in San Francisco for two days.
While some cloud computing events focus on legacy technologies and incremental change, CloudBeat's focus is on real customer issues, highlighting stories about the most disruptive technologies out there.
They'll be covering ten "never-seen" customer case studies. Enterprise IT leaders from Harvard University, PepsiCo, Dignity Health, Kaplan, and the Church of Latter Day Saints and others will discuss their cloud adoption strategies and the successes, failures, and takeaways surrounding them.
Through their discussions with vendors and other experts, you'll discover what really works, who's buying what, and where the industry is going. The following themes will guide these talks: integration, big data, open vs. closed, security, and visibility.
Additionally, 65 industry leaders will share their own insights, including executives like Stephen Herrod, CTO of VMware, Amit Singh, Vice President at Google Enterprise, Sujay Jaswa, VP of Business Development at Dropbox, James Cuff, Chief Tech Architect from Harvard University, Peter Coffee, VP of Platform Research at Salesforce, Lew Tucker, VP & CTO, Cloud Computing at Cisco, Sanjay Poonen, President at SAP, Sam Schillace, VP of Engineering at Box, Rafal Los, Senior Security Strategist at HP, Alastair Mitchell, Founder & CEO of Huddle, Dr. Amr Awadallah, CTO of Cloudera, Oren Teich, COO, at Heroku, and others.
The Innovation Showdown is a lively track at CloudBeat where seven new companies (chosen from over 200 applicants) battle it out in front of the audience and an expert panel of judges to see whose product/service is leveraging the cloud in the revolutionary way.
They expect over 500 industry executives to attend, which includes a mix of business and IT decision makers, analysts, investors, marketers, big brands/retailers, press, and others.
If you're in the San Francisco/Bay Area, you can still register here and save 50%.
November 18, 2012
Sprinklr's e-Book of 30 Essays on "Social at Scale”
The eBook provides advice from social media leaders on how to scale social media in the enterprise world.
I was invited to participate with 29 others, including Rohit Bhargava, Mitch Joel, Chris Brogan, Jason Falls, Joseph Jaffe, David Meerman Scott, David Armano, Peter Shankman, Mack Collier, Michael Brito, Jay Baer, Edward Boches, Nilofer Merchant, Ted Coine, David Weinberger, Shelly Palmer, Mark Earls, Augie Ray, Brett Petersel, Ted Rubin, Sarah Evans, Jeff Bullas, Amy Vernon, Matt Dickman, Thomas Baekdal, Venkatesh Rao, Richard Stacy, Hugh MacLeod, and Doc Searls. Sprinklr termed the group the “Social Media Dream Team”. Go figure.
Aside from insights, there are also tips, useful checklists and a “readiness assessment.” Download the ebook here.
November 05, 2012
The Singularity Understood & Misunderstood
I've been attending Singularity events since they started having them, before people really knew what singularity meant.
Frankly, most people still don't.
Outside high powered technology circles and intellectuals, singularity isn't a topic that is discussed on dates or at the dinner table, even in Silicon Valley where technology and deals are sexier than toned women in miniskirts.
According to Wikipedia, "the technological singularity is the theoretical emergence of greater-than-human superintelligence through technological means. Since the capabilities of such intelligence would be difficult for an unaided human mind to comprehend, the occurrence of a technological singularity is seen as an intellectual event horizon, beyond which events cannot be predicted or understood."
Advocates talk about an "intelligence explosion", where superintelligences design successive generations of increasingly powerful minds, AND most importantly, that they won't stop until the cognitive abilities surpass the human mind.
Whoah Nellie! That's what I said when I first read Ray Kurzweil's book, The Singularity is Near and on many occasions since being involved in "singularity circles" since then. It's a scary concept for mere mortals to comprehend, at least until you better understand the landscape.
The term was popularized by science fiction writer Vernor Vinge, who I had an opportunity to hang with at the latest Singularity Summit in San Francisco in October. He argues that artificial intelligence, human biological enhancement or brain-computer interfaces might be possible causes of the singularity.
Think of it as an era in time where civilization as we know has dramatically changed. The Singularians (yes, that's what they call themselves), believe that this era will "transcend our biological limitations and amplify our creativity."
I love that but wonder if technological singularity is the only way (or the best way) to transcend and amplify humans.
There is a group of spiritual and creative types like me who are intrigued by the singularity. We find some truth to it and while some of it sounds attractive and appealing, there's a whole subsection of the singularity world that takes me back to "Whoah Nellie" again and again.
When you sit on the right brain side of the fence for most of your life, you find yourself arguing (oops, debating) with scientists and technologists about all the issues that are often left out of the discussion, like emotions, love and feeling. Oh yeah, and intuition, something women have notoriously 'owned' because we're so damn good at it.
One could argue that in this new era, things like emotion and love will be transformed also, so how we view matters of the heart will not be the same way we view them today. In other words, there's no point trying to figure out how they'll matter in this new era because everything will be transcended: our intelligence and our emotional states.
What I love about singularian culture (if there is such a thing), is the commitment to progress, technological advancement (largely for positive change) and the ongoing, intriguing debate about the future and where we're heading. And, oh btw, it's an opportunity to learn from some of the greatest minds who are pushing the needle forward today.
If you have a discussion with someone about singularity who knows what they're talking about, you shouldn't be too far along in the conversation before the phrase exponential growth comes up, a phrase referred to by Moore's Law as a logical reason why we can expect the singularity to happen sooner than some believe.
So, who's among this circle aside from respected futurist Ray Kurzweil (below) and scientist fiction writer Vernor Vinge? It's broad and growing every day.
They've even formed a university around it, whose mission is to assemble, educate and inspire a new generation of leaders who strive to understand and utilize exponentially advancing technologies to address humanity’s grand challenges.
Hans Moravec and Eliezer Yudkowsky are also cited as singularity theorists and the circle is expanding as "its" tentacles dip into other industries.
Speakers at the recent Singularity Summit included thinkers and entrepreneurs such as Julia Galef who spoke on rationality, cognition and the future, Linda Avey who addressed personal genomics, and professor Steven Pinker (below) who took us through a history of violence. (video here)
We also had an interactive dialogue with Daniel Kahneman, heard about artificial intelligence and the barrier of meaning from Melanie Mitchell, and our 'viral' future from Carl Zimmer. (below)
A quest in metaphysics was explored by Jaan Tallinn (below), Robin Hanson's topic was: A Tsunami of Life: The Extraordinary Society of Emulated Minds and Stuart Armstrong discussed how we're 'predicting' AI.
Temple Grandin who has done a lot of work with autism spoke to us about different types of thinking. There's the photorealistic visual thinker (poor in algebra), the pattern thinker (poor at music & math), the verbal mind (poor at drawing) and the auditory thinkers (who are poor at drawing). She brought up the power of bottom up thinking rather than bottom down, where you learn by specific examples. In other words, get out and discover things, citing travel as a great educator. Hear hear.
She says, "many talented, quirky and gifted students are going nowhere because they have no mentors to help them through their quirkiness." So right. While I received emotional support from my grandparents along the way (they raised me), I received more emotional support from random mentors who fell into my life path, amazing accidents in time I thought as a child.
Pinker, who took us on a journey of violence, talked about its connection to literacy. Much of his research wouldn't surprise anyone since its logical: literacy matters for a decrease in violence since it brings reason into the equation, winning over superstitious thinking.
Literacy is also a mixture of cosmopolitanism, where you increasingly consume fiction, drama, journalism and the arts.
The implication of this over time resulted in the need to redefine modernity...what culture means: our tribes, family, community and religion.
Like Kurzweil, I always love hearing Pinker speak. My brain is better off at the end of it.
So, if singularity thinking is drawing some of the best and the brightest, what's the real controversy aside from fear of the unknown, which is inevitable?
Carl H. Flygt quotes Bill Joy in a paper he wrote in 2005 on singularity theory:
“A traditional utopia is a good society and a good life involving other people,” says Bill Joy. “This techno-utopia is all about: ‘I don’t get diseases; I don’t die; I get to have better eyesight and be smarter’ and all of this. If you described this to Socrates or Plato they would laugh at you.”
But the paper goes on to say, "But Socrates or Plato would not laugh at the idea of pure conversation, which cuts off the me-talk before it can start and puts the human being directly in community with the reality of his (her) cosmic consciousness, of his (her) ontological impulses and of his (her) capacity for self-control and settlement into the higher bodies given human nature by its cosmic mereology."
I have no clue whether this paper has any credibility and note that it's also now seven years old...but, it was and is a viewpoint. Naysayer LogicPriest who calls himself an atheist, skeptic, anti-authoritarian and crazy person who likes cat and among other things, science, doesn't discount that AI isn't possible because any system of enough complexity can emerge into intelligence. He feels we may have very little to say to it however.
He writes: "we would need to emulate much of ourselves in an AI. We would need some pretend body and environment, some emulated limbic and nervous system (the brain is only PART of the nervous system, something most futurists forget). We would also need to build a completely different type of computer, one where the architecture is structurally tied to certain actions, one with DNA instructions, separate abstracted layers like our 'reptile' brain to work it's normal, computer functions and higher order processors for complex thought."
Regardless if you're an outside observer who is merely curious, a student of science, or writers like those I discovered in my search who have strong opinions on the topic, technology is accelerating with a force that's hard to deny. It is working its way into our every existence.
Consider that we use it get directions, read digital books, buy products and communicate to the outside world not to mention the people who email a loved one in the very next room rather than have a "human" conversation with them.
We use it for voting, research, asking questions on the most basic things like how to start a lawnmower or how to cook a turkey, sending photos to grandparents, watching a movie and monitoring our diets. We even use it to virtually talk to doctors about our health, consultants about our finances and teachers about our children's education. There's no end to how and where we use it or will use it in the not too distant future. Augmented reality is here and expanding.
The real question is a moral and ethical one. How conscious, present and aware are those who are building and executing the stuff that brings us into the next era, the one singularity promises is nearer than we think? What is their mission for "it" and for "us" as a species?
How will this explosion impact life as we know it? And, for women, artists, creative right brains and expressionists of the world, how will it impact things we hold so dear like love, emotion, physical relationships and our identity around spirituality?
What do you think?
Note: Twitter handles of some of the people either in this world or who talk about it from time-to-time: @raykurzweil2035 @labenz @lukeprog @laurademing @sydney_uni @ricolution @Sydney_ideas @jayrosen_nyc @biotechbusdev @elonmusk @robertwrighter @stephenfry @edge @rkurzban @temple_grandin @laurademing @lindaavey @sapinker @melmitchell1 @carlzimmer @robinhanson @wilbanks @ch402 @magicsaucemedia @noorFSiddigui
November 5, 2012 in America The Free, Conference Highlights, Events, On Innovation, On People & Life, On Robotics, On Science, On Technology, On the Future, WBTW, Web 2.0 | Permalink | Comments (0) | TrackBack
November 02, 2012
Crowdfunding: A Conflict for VCs or a Path to Economic Recovery?
I attended an event on crowdfunding recently. Entrepreneurs are dabbling in anything and everything "crowd" lately - from attracting vendor and engineering talent to volunteers and now, funding. I've had friends test out Kickstarter which is an interesting model if you don't need a lot of cash to jumpstart your project.
It's easier to get low-level investors on board since the commitment on the part of the 'investor' is minimal (mostly zero) and there's a reward kick back. I've contributed as little as $5-50 to a Kickstarter project and did it because it was a cool idea and just wanted to help. You'd need a helluva lot of "me's" to make it worthwhile at that level but there are others who will invest $100, $1K or $10K into the pool depending in their interest and wallet size.
Other reward based crowdfunding platforms include IndieGoGo and RocketHub, all of which are operating in the new paradigm without a lot of rules and regulations, aka pre the implementation of the 506c Act.
In a conversation on crowdfunding and alternative funding for start-ups, below are two videos (Part I and Part II) that discuss the pros and cons. Note that it IS a VERY Silicon Valley viewpoint and I haven't met a whole lotta venture capitalists from major firms who want to deal with the aftermath of early investors no longer being one or two angels but being 25 random no-names instead. There are complications AND implications.
On the panel included Gerd Goete, Siemens Venture Capital, Partner, Don Ross, HealthTech Capital, Managing Director and Founder, Sand Hill Angels, Board Director and Life Science Angels, Member Carol Sands, The Angels' Forum, Managing Member, Graham Burnette, SBV Capital Partners and Red Planet Capital, General Partner and Royse Law's Roger Royse.
I didn't get the sense that VCs (or at least traditional VCs) would be in full support of coming in after crowdfunders, largely because of what's involved: complicated, too many heads at the table, dillution and more. Silicon Valley focused, their mantra was more around the traditional tools that make a startup successful in the long term: domain expertise, access to the right people, advice and coaching and the amount of due diligence that goes into a deal.
There's no question that access to the right people and being 'aligned' with the right people accelerate deal flow and increase the likelihood of a successful exit. If you're Kleiner backed, your chances of success go up regardless of what kind of "useless" app you have.
There are the notorious three risks, which include:
1. Technology Risk - do you have a kick-ass technology? (my words, not theirs?). Can it do what it says it will do? Will it live up to the promise?
2. Market Risk - is there a big enough market for your products?
3. Expansion Risk - this comes into play as you start to scale. Can you make a big enough return that is attractive for YOU and for them? (aka, your investors)
Their argument was that dozens or possibly hundreds of 'crowdsourced' investors can't help with 1, 2 or 3. That said, my argument would be that there are a ton of businesses who don't need to go through the traditional Silicon Valley funding route and while crowdfunding may not give them millions, they still may be able to find advisors for a point or two who can leapfrog them into the right 'tribe' so they can be successful without giving away the store to a traditional VC firm.
It is indeed an alternative and some business models and businesses will work and some won't.
Points for considration include: public solicitations and use of social media, advertising terms of offer being restricted to the fact that the issuer can only direct investors to a broker/funding portal, the additional costs invovled with disclosure and reporting, use of an intermediary, risk of fraud (goes up as this model expands), and the point that the VCs and angels on the panel referenced again and again: the high number of unsophisticated investors (which leads to fiduciary duties to all investors and as our Silicon Valley finance pals pointed out, all of "it" a concern for VCs for future fundraising rounds).
We learned a bit more about new guidelines under the proposed 506 regulations.
For example, it would allow for public advertising and general solicitation in Rule 506 offerings, provided that the issuer takes reasonable steps to verify that potential investors are accredited, and all investors are accredited (or the issuer reasonably believes they are) at the time of the sale of securities.
This results in all sorts of issues we haven't faced before under traditional models, including the nature and terms of the offering which are unique. Is it a low verus high investment? What are the terms? Who has a voice and doesn't? And of course bearing in mind that there will be more steps needed to verify 'accredited' status.
Proposed crowdfunding regulations are slated to be released in January 2013. Videos below in Part I and 2 of the panel (roughly 20 minutes for each video - feel free to view the whole thing or catch snippets in stages to get an overview).
The event was part of iHollywood Forum, and their new brand Angel Launch, which produces dinners, venture forums, and seminars for entertainment, Web, Internet, mobile and tech ventures and startups.
Also refer to a Forbes article on crowdfunding where they also talk about the above legislation and a bill that had full bipartisan support this year called JOBS (Jumpstart Our Business Startups) Act, which is a series of 6 bills tied together designed to make it easier for startups to gain access to capital.
Photo credit: Forbes.
October 23, 2012
SXSW's New Event V2V Aimed at Entrepreneurial Innovation
They'll have panel discussions, workshops, mentor and coaching sessions, pitch events, rapid-fire presentations, and networking opportunities.
SXSW V2V is an extension and re-imagining of the legendary SXSW experience with an emphasis on the creative spark that drives entrepreneurial innovation. This event brings the startup and venture capital communities together with creative industries.
They plan to cover the following markets: technology, music, film, fashion, health, education, sustainability, and others. The price to attend is $695 through December 14, 2012.
October 22, 2012
New England Venture Summit in Boston
Now in its 7th year, the Annual New England Venture Summit, held on December 5, is an opportunity for start-ups and small businesses to connect with early stage VCs.
VCs and Experts confirmed to speak include:
- Zaid Ashai, General Partner, Point Judith Capital
- David Audibert, Managing Director, Investments, Connecticut Innovations
- Daniel Behr, Senior Vice President & Founder, Access Bridgegap Ventures
- Michael Bishop, Senior Associate, Black Coral Capital
- Nathaniel Brinn, Principal, Vital Financial
- Jason Caplain, General Partner, Southern Capitol Ventures
- Andrew Clapp, Managing Partner, Actaris Capital Partners
- Mark Peter Davis, Venture Partner, High Peaks Venture Partners
- Teodoro Forcht Dagi, Partner, HLM Venture Partners
- Brian Duncan, Venture Partner, Arboretum Ventures
- Steven Dupree, General Partner, Richmond Global
- Patrick Eggen, Senior Investment Manager, Qualcomm Ventures
- Amy Errett, Partner, Maveron
- Peter Feinstein, Managing Director, Bioventures Investors
- Guy Fish, Vice President, Fletcher Spaght Ventures
- Paul Flanagan, Managing Director, Sigma Prime Ventures
- Jonathan Fleming, Managing Partner, Oxford Bioscience Partners
- Stan Fung, Managing Director, FarSight Ventures
- Alexander Galitsky, Managing Partner, Almaz Capital Partners
- Sean Glass, Venture Partner, Novak Biddle Venture Partners
- Mark Goodman, Founder, Terawatt Ventures
- Matthew Growney, Managing Partner, Rudyard Partners
- Krishna Gupta, Founder & General Partner, Romulus Capital
- Bosun Hau, Partner, MVM Life Sciences
- Mahesh Konduru, Principal, Potomac Energy Fund
- Ben Lin, Managing Partner. Great Oaks Venture Capital
- Alexander Lloyd, Managing Director, Accelerator Ventures
- Peter Longo, President & Chief Investment Officer, Connecticut Innovations
- Nick MacShane, Senior Managing Director, Progress Ventures
- Dhiraj Malkani, Partner, Rockport Capital Partners
- Corey McCann, Principal, MPM BioVentures
- Vincent Miles, Venture Partner, Abingworth
- Ira Nydick, Senior Technology Analyst, Panasonic Venture Group
- Patrick O’Neill, Director, Investments, Connecticut Innovations
- John Onopchenko, Managing Director, Synergy Life Science Partners
- Alessandro Piol, Partner & Co-Founder, Vedanta Capital
- Kathleen Regan, Venture Partner, Radius Ventures
- Bill Reichert, Managing Director, Garage Technology Ventures
- Cynthia Ringo, Managing Partner, DBL Investors
- Gary Rubinoff, Managing Partner, Summerhill Venture Partners
- Praveen Sahay, Founder & Managing Director, WAVE Equity Partners
- John Simon, Managing Director, General Catalyst Partners
- Richard Steubi, Managing Director, Early Stage Partners
- Yanev Suissa, Investor at NEA, New Enterprise Associates
- Jeanne Sullivan, General Partner, StarVest Partners
- Anthony Sun, Partner, Aisling Capital
- Roger Sun, Principal, Baxter Ventures
- Markus Thill, Managing Director, Robert Bosch Venture Capital
- Mark Wright, Managing Director, Blue Chip Venture Company
October 08, 2012
Don't Die a Slow Death in a Mountain of Business Cards: Try inTooch!
When I learn about new products or services, these are my two go to questions: would I use this today and does this solve a real problem that I've had for awhile?
When inTooch co-founder and CEO Julien Salanon gave me his pitch and suggested we work together, I was at first skeptical about their promise: to eliminate the business card problem.
While it's too early to tell since there are so many variables in this business not to mention human behavior, as a fellow entrepreneur, I couldn't help but be intrigued by his idea. And besides, Julien has one of those personalities that is impossible not to like.
He shared a story with me as we sipped tea at one of my favorite haunts in San Francisco's SOMA. Nearly ten years ago, he was at an important conference and forgot his business cards and a result, important connections were lost.
Over the last decade, he said that he tried several apps to solve this business-card issue, but none of them worked. They still don't. Don't even get me started with BUMP btw, an app that peer pressure forced me to download yet it only worked one out of ten times I tried it. And, frankly, the whole concept of crashing two phones together doesn't quite gel with me.
Julien said, "whenever I didn't have a business card or they didn't, I ended up calling the other person to leave my mobile number. And, that’s when I got the idea to enhance those natural connections with inTooch.”
While I may not call every person I meet at a conference, when I do meet someone I want to stay in touch with and we don't have a pen or card, what happens? They call me so the number is saved in my phone. What I don't have in that scenario of course is their name or email automatically, but it's a process that works in a pinch.
inTooch takes it a step further allowing you to email or call them on the fly which automatically sends a link: this link is the conduit which allows that exchange of information to happen. The beautiful part about the app and why it stands a strong chance of taking off, is that both parties don't need to have the app to work.
Intrigued that perhaps I'd soon have a client with a product I'd ACTUALLY USE, I decided to be the evil dragonness to avoid any surprises later on, so I started drilling him with questions.
What about categorization I asked? Not in the first version he said, but it's coming. What about social networks? Built in he said. What about privacy and personalization? Built in he said. Hmm, I wanted categories of course given that I have nearly 100,000 contacts in my database, but also realize that I'm not your average Nelly when it comes to contact management.
As my friend Steve said, "you're not normal, you're in the business of needing to mate with the world. In fact, you love to mate with the world." I had to laugh. He's right. I love meeting people and no one seems to come home from an event with more business cards than I do.
AND, he said, the ability to add contacts to categories is coming. They already have the ability to separate personal and business contacts.
I'm a realist. Anyone who works with early start-ups needs to be a realist. Rome wasn't build in a day and most apps when they first go to market don't have every single detail or feature you want built in in their first version. As long as the team has it on the roadmap or thinking about it, it's good enough to give it a shot. If we didn't trust that process, real innovation wouldn't happen and we wouldn't be where we are today.
Unlike so many social apps that are Web 2.0 features rather than solutions to problems, I thought to myself, "inTooch would actually take care of a huge pain point in my life."
And so, we embarked on a journey in early September. Forward wind the clock. Julien took People's Choice Award at GigaOm's Mobilize in mid-September when he pitched a panel of VCs on stage.
Then, he officially launched inTooch on the DEMO Stage on October 3 with Dave Mathews in an amusing skit that included the duo tossing 2,000 business cards into the DEMO audience as they shouted FREEDOM, FREEDOM, FREEDOM.
At one point, I thought Julien might start dancing when the music came on. OR, maybe it was one of those Halleluja moments.
Consider this: did you realize that of all the people you meet at a conference or even in a personal situation, you won't stay in touch with 85% of them? Without sounding too trite - inTooch to the rescue.
Trust me, I want to be rescued and I think most of us do. I can't keep up with the volume of contacts and there are always people to want to follow up with and just don't have the time. There are also people's contact information I'm trying to locate months later and realized I didn't have time to enter their data.
There are 4 cool features I personally love about the app:
1. The Mobile Geo-Location Piece: since I travel a lot, I often think about people (and their faces) based on 'where' I met them. Oh yeah, that was John who I met at this festival in Louisville Kentucky, or that was Jeannie something and we hung out at CES in Las Vegas. Using geo-tagging, inTooch lets you search for people by location and their photo appears as well to jog your memory. Sweet!
2. Seamless/Fast: additionally, if I don't want to call the person or they don't want me to, I can shoot them an email and the inTooch connector still works. The other cool thing is that both parties don't need the app for the exchange to happen. Obviously the process is even faster if both people DO have the app, so I'd encourage everyone to download the app. Let the seamless exchange of data begin!
3. Social Network Exchange. So many people I meet under the age of 30 either don't have a business card (even in a business setting), give me their Twitter handle or say connect with me on Facebook. (as if I'm going to remember their name or handle the next day or a week later when I'm back home).
I'm always amazed that they think I'll take the time to jot down their data with a visual queue of our conversation. It's too much work. What's great about inTooch is that you can opt to include the exchange of your social network information as well. It currently supports LinkedIn, Facebook and Twitter.
I've known Chris Taylor from Mashable for years and for some odd reason, didn't know he was @FutureBoy on Twitter. Ever try to Google a "common name's" Twitter handle and not get so frustrated by the fifth click that you finally give up? Don't get me started on the poor search functionality within Twitter itself although I know they're improving it all the time.
4. Augmented Reality: for personal encounters, inTooch brings augmented reality to your connections, alerting you to all the things you have in common with another person (friends, places you visited, music, movies you like, social network info, check-ins, interests you share) so you can instantly engage in mutually interesting conversations.
Bottom line, it's been a fun ride so far and we're only a month into it. Free to use, the app is available now for iPhone (except iOS6) and alive and ticking for the Android as well.
Support for iOS6, other platforms and mobile devices are also coming later this year.
So, give it a try. Don't die a slow death in a mountain of business cards like poor Matt Marshall here! Everyone has their limits.
Below is a video shot by Jean Baptiste Su of their demo presentation.
October 8, 2012 in America The Free, Client Announcements, Client Media Kudos, Conference Highlights, Events, On Mobile & Wireless, On Social CRM, On Technology, Social Media, Videos, WBTW, Web 2.0 | Permalink | Comments (0) | TrackBack
October 05, 2012
A Visual Journey of DEMOFall 2012
I missed DEMOFall last year if I recall and hate to miss a DEMO since I'm a huge fan of their events, having gone for years (and years). I'm also a media partner every year. As always, they had a great line-up of companies, many start-ups making the trek over from Asia and Europe to unveil their latest and greatest on the DEMO stage.
Some of the highlights included a kick-off Beer reception in the Oktoberfest theme. The great thing about such a theme is fabulous dark German beer and fashionistas like Jolie O'Dell showing up looking like Heidi. (it doesn't seem to matter what outfit she puts on or color her hair is, she always looks smashing).
The downside? The food of course. It was great to reconnect with old friends, some of whom I only see at Demo every year. Not everyone was as stylish as Jolie of course, but the pressure of women pulling out in the stops in Silicon Valley has Dylan Tweney rethinking what he puts on before he goes out of the house...yup, even the socks! (see my geek fashion hurts my senses piece).
Dean Takahashi decided to support the theme in one way he knew how: put on an Irish hat to support the Germans of course. :-)
In all seriousness, the beauty about Demo is that after hours (and before hours), people still know how to have fun. Below - is it easy to recognize a Brit among us? After all, the Brits know how to let loose despite myths that they don't. (Trust me, I lived there...ask me for stories sometime).
The every so "fun" Redg Snodgrass and Andrew Scott announced Taploid, a gossip tabloid for the digital age, so hey, they were just celebrating their unveiling after all...
Speaking of celebrating and having fun, Dave Mathews and co-founder of InTooch Julian Salanon demonstrated to the audience that they can START to have fun if they only freed their lives from business cards with their new mobile app. Hear hear.
Given that this event was Matt Marshall's last DEMO event, Neal Silverman bid farewell to Matt on stage while the audience cheered him on (and yes, we even stood up and whistled). Erick Schonfeld takes over in 2013 and am looking forward to seeing what direction he takes things.
There were also the traditional DEMO God awards that DEMO is notorious for. This year's winners included: bandu from Neumitra, Birdeez, ElectNext, Flinja, RentLingo, and VPC from Neurotrack (Alzheimers development).
One conference - multiple personalities. Up on day one was Ray Kurzweil, who talked about everything from singularity and speech recongition to nano bots and our brains. Up on day two was Twitter co-founder Ev Williams.
In between each category, a group of "sage" panelists came out and gave their opinion on every app that presented - what they liked and didn't...and why!
Journalist Rob Pegararo made the trek from DC...
There was, as always, loads of schmooze time as well and on the last night, a farewell celebration party thrown by Citrix.