(clickbait) Founders, don’t trust your venture capitalists… or…

trustJosh Felser, formerly of Spinner (an internet radio and entertainment website bought by AOL), shares some stories about his startup and funding. To be sure, he mentions the terrorist tactics used by some investors.

If you don’t know what a “term sheet” is, you should learn.

If you don’t know what a “corporate structure” is, learn.

https://techcrunch.com/2017/01/19/founders-dont-trust-your-venture-capitalists-or-should-you/

15 Things You Should Know Before Dating an Entrepreneur

Recently I signed up for Mark Cuban’s Cyberdust. I’m still trying to make sense of it. The nice things is you can talk to Mark, but don’t pitch him.

In any case, recently he sent this gem
heartbreak_by_anupamas15 Things You Should Know Before Dating an Entrepreneur
http://patrickbetdavid.com/dating-an-entrepreneur/

Here is the summary.
#1: Entrepreneurs are Very, Very Weird
#2: You’ll Either Make it or Bust
#3: They Need Solitude at Times
#4: They Don?t Live by a 9 to 5 Schedule
#5: They Usually Never Clock Out
#6: They Don’t Do Well with Ultimatums
#7: They Will Miss Event
#8: They Are Frequent Travelers
#9: They will Talk to Strangers Quite Regularly
#10: They Ask a Lot of Questions
#11: They Usually Attract the Spotlight
#12: Your Friends & Family Will Either Love them Or Hate Them
#13: They Have Strong Opinions
#14: They Despise Lazy People
#15: They Get Bored Very Quickly

All your IP are belong to us.

Sometimes it takes a bad meme to explain the obvious, and sometimes that meme is correct.1

In 2013, I was working in a robotics factory in Santa Clara California – right in the heart of Silicon Valley. I had the good fortune to talk to several of the Tesla engineers about overseas manufacturing. There message was simple and blunt. “If you are in China do not even mention IP (Intellectual Property), or the next day you’ll see it on the streets being sold.”

Yesterday, while looking through hacka12phoneday.com I ran across an interesting article, entitled Reverse-Engineering a Superior Chinese Product. To say the least, I was intrigued because most Chinese Products are cheap copies or clones. But just like the Japanese have learned to increase quailty to increase sales, I expect the Chinese to do the same. In the article, American engineers reverse engineer a $12 Chinese phone (sold only in China).

Here is a blurb from that hackaday article (Jan 1, 2105):

[Bunnie] has dubbed the phenomenon “Gongkai”, a type of institutionalized, collaborative, infringementesque knowledge-exchange that occupies an IP equivalent of bartering. Not quite open source, not quite proprietary. Legally, this sharing is only grey-market on paper, but widespread and quasi-accepted in practice — even among the rights holders.

That article links to a blog post from bunnie. Here is a short blurb — to encourage you to read it.

Gongkai is more a reference to the fact that copyrighted documents, sometimes labeled “confidential” and “proprietary”, are made known to the public and shared overtly, but not necessarily according to the letter of the law. However, this copying isn’t a one-way flow of value, as it would be in the case of copied movies or music. Rather, these documents are the knowledge base needed to build a phone using the copyright owner’s chips, and as such, this sharing of documents helps to promote the sales of their chips. There is ultimately, if you will, a quid-pro-quo between the copyright holders and the copiers.

NOTE: After the eighth paragraph Bunnie breaks in to some technical discussion. It is intended for person reading Hackaday, not entreprenuers. However, beyond that some of the article is interesting, such as the prediction he cites by a former MIT professor.

Other parts are comical, such as the section entilted Reversing the Boot Structure

Other parts have real implications, such as the second paragraph of Booting an OS

The video is also extremely interesting. I recommend watching the first 15 minutes and the last 15 minutes.

—-

Footnotes

1. All your base are belong to us

entrepreneur.com – Top 100 Crowdfunded things

Lately, crowdfunding platforms like kickstarter, indiegogo, & others have been taking up headlines in the tech industry. They have become a source of democratization of our economy. However, someday people will contend the illuminati are behind it all. In either case, the links below work as pointers to its previous success.

How The Top 100 Crowdfunded Companies Raised Major Money

http://m.entrepreneur.com/article/229397

Top 100 Crowdfunded Companies

published November 2013
http://www.entrepreneur.com/article/229477

4 Famous Crowdfunding Fails

posted October 24, 2013
http://www.entrepreneur.com/article/229423

  1. New York City Opera – Kickstarter – $1M/$303K
  2. Ubuntu Edge Phone – Indiegogo – $32M/12.8M
  3. Melissa Joan Hart’s Romantic Comedy – Kickstarter – $2M/$51K
  4. Zosia Mamet’s Music Video – Kickstarter – $32K/$2.7K

Topic: Top 100 Crowdfunded Companies

http://www.entrepreneur.com/topic/top-100-crowdfunded-companies

blogs.wsj.com – The ‘Billion-Dollar Startup Club’ (Unicorns)

rainbow_unicorn_by_izumininjastar-d4ihrlcInfrequently, we hear about the so-called Unicorns, those that make the “Billion Dollar” valuation — before IPO! The Wall Street Journal has collected their names for the record. It is worth noting the oldest was founded in 1995 (Fanatics & Intarcia), the newest 2012 (Snapchat). The list is interactive.

Introducing WSJ’s ‘Billion-Dollar Startup Club’ Interactive
http://blogs.wsj.com/venturecapital/2014/01/23/introducing-wsjs-billion-dollar-startup-club-interactive/
The interactive chart
http://graphics.wsj.com/billion-dollar-club/

Grove – What Are Your Hiring Criteria?

help_wanted_signHiring is an unpleasant course for employees; they often feel threatened with thought “Will I be replaced?”. Even in fast growing companies, passing the hat (or a blank sheet of paper), gets sparse results. This article takes a slightly different, but better approach that finds it’s roots in agile.

FWIW: The use of “are” in the title is to reflect the plural use of You (or Your), which is correct in english, but often misused. That is to say, they title addresses multiple people at the same time, and not just one person. As such, the use of “are” is correct.

Important Tools to remember

  • Stickies and Sharpies
  • Qualifying & Disqualifying Criteria
  • Write it Down.
What Are Your Hiring Criteria?
https://www.sequoiacap.com/grove/posts/eaqj/what-are-your-hiring-criteria