Friends that defy my classifications and prejudices

A few years ago I met 2 business acquaintances that were (and still are) evangelical Christians.  They grew up going to evangelical right wing camps while I went to Outward Bound.  Their parents listen to Rush Limbaugh while mine listen to NPR.  They have pictures of George W. hanging in their office.  And while I don't have any pictures in my office -- if I did have a political photograph I'd be more likely to have a Bill Clinton or Obama photo.  They vote Republican and I vote Democrat.
I've gotten to know these guys and had dinner with one of them last night.  I realized that this person not has become a very good friend but he has forced me to redefine my own prejudices about the far right.  They're not ALL irrational speaking in tongues hypocrites :-)  Just kidding!  While I ultimately disagree with the conclusions he reaches, there is a lot that we agree on about the past 8 years.

  • He agrees that the war in Iraq was a mistake and is a mess.
  • He think energy independence should be the main agenda for the country and that George W missed this as the great opportunity of his presidency post Sept. 11
  • He agrees that Republicans have led the country astray economically -- both with the war and with the level of spending the country has undertaken. 
  • He agrees that the Republicans (and Democrats) are hypocritical.  He agrees that personal freedoms need to be protected (though he's pro-life) from government. 
  • He agrees teachers are underpaid. 
  • He agrees that Maker's Mark on the rocks is a great drink.

I appreciate the friendship I have with these two guys -- and the fact that the friendship has challenged my own preconceived notions about the world and the US political climate.

Cuban kitchen (photo 2)


cuban kitchen 2, originally uploaded by a sack of seattle.

This is a second photo of a cuban kitchen. I may have taken the photo....but can't be sure. And yes, it's a picture of a pig that lives in the kitchen. Supposedly, this pig acts as a very effective compost solution. That is, of course, until the pig becomes Christmas dinner.

Cuban kitchen (photo 1)


cuban kitchen 1, originally uploaded by a sack of seattle.

This is a photo of a cuban kitchen. I may have taken the photo....but can't be sure and don't want to make any statements that might land me in trouble in the US.

Some sobering Venture Capital Statistics

The below is from the Nollenberger Capital Report

  • This is the first time since 1978 that no venture-backed company made it public during a quarter. The last venture-backed IPO was ArcSight in February 2008. In the first half of 2008, there were only 5 IPOs that totaled $283 million. That compares to 43 IPOs during the first half of 2007 totaling $6.3 billion. During the first half of 2008, 42 companies were in registration for an IPO.
  • For 2Q 2008, 50 M&A deals were announced involving venture-backed companies which totaled $2.4 billion. The first half of 2008 was the slowest first half M&A market since 2000 with only 142 deals. During the first half of 2008, there were 120 venture-backed M&A deals, compared to 169 during the first half of 2007 which amounted to $6 billion, compared to $8.5 billion in 2007, a 42% decline for investors.
  • In the first half of 2008, U.S. venture firms raised $16.2 billion, a 5.41% increase over the same period in 2007. The $85.5 billion that LP’s invested into LBO funds was 20.5% below the $107.6 billion invested in the first half of 2007. This is the first time since 2003 that we have seen Y/Y fund raising decline as PE firms experienced capital raising delays for their latest buyout funds. 72 new venture capital funds raised money, 10 more than in the 2007 period. The largest raise was $800 million for Lightspeed Venture Partners VIII LP fund.

Electric convertible with 100 mpg


Think Global, originally uploaded by a sack of seattle.

Think Global, a Norwegian startup that bought what was once Ford's electric-vehicle program, has sold about 1,800 of its Think City, a tiny electric commuter car, in Norway. So far the company has raised $95 million from investors, including General Electric. The two-seater, which comes in convertible and hardtop, will sell for about $25,000 and go 100 miles on a few hours' charge. The firm aims to sell some 30,000 in the U.S. in 2010.
Maybe great for gas mileage....just not so great for Seattle rain.

Hands free photo law in Seattle


hands free photo, originally uploaded by a sack of seattle.

A new law is going into affect in Washington July 1, 2008.

Under the new laws, drivers who read and compose text messages or talk on a cell phone without a hands-free device could face a $101 ticket. The text-messaging ban takes effect Jan. 1; the cell-phone law will be enforced starting in July 2008.

This is an interesting law - and kind of a weird photo - so I thought I'd blog about it. In case you're wondering, I'm in favor of the law. I am afraid to drive a motorcycle (and my car) because I think the roads are less safe than they used to be due to cell phone and texting usage. That said, I am the occasional offender -- I'll need to cut the texting down.

Hillary Clinton's speech breaks records

I thought Hillary's speech on Saturday was awesome, historic, and moving. The speech was incredibly well written, had the right message and was delivered in the right tone. If the person who delivered that speech on Saturday had been the same one to campaign over the past 6 months, I believe she would have beaten Barack Obama.  I've been frustrated over the last 90 plus days as the math proved that Hillary couldn't win and yet she insisted on continuing to run for President. On Saturday, I forgave her. She didn't apologize explicitly. Rather, she gave such a moving uplifting speech filled with the passion and commitment that she embodies -- and I forgave her for her missteps, dirty politics, and egotistical actions. It's an awesome moment in America that a woman got as close the oval office as Hillary did!  It is remarkable and you should listen to the speech on Youtube here.

A tribute to Geoffrey Moore: knocking over that first pin

The two companies that Founder's Co-op is invested in, Cooler Planet and Orange Line Media, are making big strides to knocking over their first markets.  Cooler Planet has been in business just under 1 year and is recognized as the best consumer resource site for Solar.  Orange Line Media is only 5 months old so it's still too early to tell but I believe they'll be a big player in the microstock photography market.  With both companies, we find ourselves able to think 6 to 12 months out and to wonder about what we should be doing next. These thoughts are strategic in nature and are important. However, every time we have these discussions and thoughts, I'm confronted by tthe fact that we have a long way to go to capturing the first market we're in and exhibiting our mastery of the tactics it takes to "own" that market.  I think it's fair to say that for the first year of operations in an early stage company, the tactical is the strategic and theres nothing more important than following Geoffrey Moore's advice.

Winding down a company takes time

It's been about 4 months since I started the process of winding down Judy's Book. During that time, we've sold the assets, had to settle up with creditors, and are now embarking on the process of dissolving the corporation.  My guess is that I'll be dealing with the remnants of the Judy's Book corporate shell (someone else now owns the web site and traffic) for the rest of the year and may well be dealing with it for a few years. It doesn't take a lot of time but it's a pain to have to keep on top of everything and to wind everything up neatly.  Especially when I'm ready to move on to the next thing...

More good economic news

This just in from the NYT (full article here)

Americans are well-aware of their plight. Consumer confidence now stands at a 16-year low, according to a survey conducted by Reuters and the University of Michigan. The confidence index dropped to 70.8 in February, the lowest level since February 1992. Consumers also expect inflation to keep rising over the next year.

Businesses are also feeling the pain. A survey of activity at Chicago-area businesses plunged in February, according to the National Association of Purchasing Managers, falling to its lowest level since shortly after the Sept. 11, 2001, terrorist attacks. The group’s “business barometer” reached 44.5 in February after a 51.5 reading the month before. Employment and production levels fell sharply, as well.

I'm thinking about the implications of this economic environment to technology and venture investing.  No major aha's yet....but I'm noodling.

Companies I like to invest in

Q: Hey Andy, thanks for using Askablogr! Given your experience as a founder and investor, what kind of company (what stage, what themes, what kind of founding team, etc.) do you like to back and why?

Posted by Chris DeVore
 

A: I like early stage internet companies. The earlier the better. I prefer consumer oriented companies but have invested in business to business web stuff too. Any company where the founders are passionate about what they're doing and I understand the problem they're trying to solve. I don't do bridge notes and tend to be  valluation sensitive. I don't like to invest in 8MM pre money startups :-)

Google does small things in a genius way

I went to a google document just now and got this message:

The bad news is that Google Docs has just encountered an error.

The good news is that you've helped us find a bug, which we are now looking into.

We apologize for any inconvenience this has caused you.

This is a bug. The software didn't work and I left the experience feeling better about the company before.  This may seem small but it is huge when you think about it! Google is genius!