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Retail can work in brick and mortar, but you have to understand how to do the web, and integrate into stores first. Important to target where your brick and mortar goes too as evidenced by their strategy.
3 weeks, 4 days ago on Bonobos raises another $55 million and aims for an IPO, all “in spite of being ecommerce”
Interesting that $ICE is nowhere to be found. Based in Atlanta and in fin services.
3 weeks, 4 days ago on Hip-hop, housewives and hot startups: A guide to Atlanta’s startup scene
Thanks for writing this. I have been told over and over I am not qualified. Bullshit.
4 weeks ago on Is everything we know about what makes a good VC just wrong?
When is Revolution Ventures going to establish an office in a place like Chicago?
1 month ago on Steve Case on the road: Just as the going gets big, the big leave Nashville
yes, and this is exactly why the midwest is going to be red hot when it comes to startups in the next twenty years.
1 month, 2 weeks ago on Consumer tech is cool, but agriculture tech could save the world
You underestimate farmers and tech. they adopt things that make them more productive at cheaper costs. Farmers are very high tech believe it or not.
3 months, 1 week ago on The Internet of Udders: Vital Herd wants to put chips in cows, save farmers billions of dollars
What's cheaper and less risky? Innovating or setting up a lobbying group to seek rents in regulatory agencies?
3 months, 1 week ago on How Corporations Can Innovate Like Startups
@Todd_Smekens that's not what is happening here
3 months, 2 weeks ago on How corrupt Chicago politics fueled the high-frequency trading mess
This article is so off base it is not even funny. It's pretty clear that the author doesn't understand trading, HFT, exchanges and the actual reason there is a controversy over HFT. Let's be clear: HFT by itself isn't the problem. It's poor market structure that is the problem. As far as a transaction tax, it is brought up every year and beaten back by politicians from both sides of the aisle because it is a terrible idea. Has nothing to do with corruption.
the goal of separating insurance from work (since it started in response to FDR's pay freeze in the 1930's) is right. But Obamacare is exactly the wrong way. We should be pursuing a free market alternative. Not government directed and controlled medicine.
3 months, 3 weeks ago on Steve Case tells us that Obamacare will help start ups
I think it's a different problem. The good wine sites are behind a paywall. The existing free sites all have crappy content.
5 months, 3 weeks ago on The wine industry must adapt or become an anachronism
Kudos to him. His metaphor was wrong-his broader point was right on the button.
5 months, 3 weeks ago on Perkins: I regret using the word ‘Kristallnacht,’ but not the message
OWS was a total joke. Once exposed, it was just hard leftists trying a different way to advance their agenda through a populist movement.
5 months, 3 weeks ago on Occupy Wall Street leader now works for Google, wants to crowdfund a private militia
You know why they call it "golf"? The word Fuck was already taken!
10 months ago on The Part Where Facebook Thinks I’m a P0rn Star
Nice analysis. It's why the midwest can become a startup machine. The Big 10 region is full of research universities that crank out entrepreneurial students. Our problem is startup capital.
One of the reasons I co-founded Hyde Park Angels (hydeparkangels.com) in Chicago back in April of 2007 was to remedy that situation. Since starting up, Notre Dame has created an angel group, and so has Northwestern.
I don't care if the press keeps ignoring us. But, Illinois and Chicago (my two alma maters), NU, Michigan, Notre Dame, Wisconsin, Purdue, Indiana (founder of Siri) all have very entrepreneurial students. How did Harry Caray used to sing it, "The Midwest is coming tra-la tra-la, the midwest is coming tra-la tra-la". Except you'd have to substitute "Cubbies" for "Midwest"
10 months ago on Is your school underrated for tech entrepreneurship?
while they can do the algo's, they can't match the speed. Co-location and other machine read advantages accrue to existing large competitors in the space.
10 months ago on Quantopian raises $6.7M to build its quant army and take on Wall Street traders
good VC's don't wait like a judge for deals to enter. Good VCs network for the best deals.
10 months, 4 weeks ago on Sheer madness: With VCs get an intro or get lost
Chicago has some places you should not go. This would be a helpful addition to a GPS. Without about five neighborhoods that have become shooting gallaries, the city is pretty safe
11 months ago on GhettoTracker is the worst site on the Internet
@DaveMcClure a lot depends on where you are as well. Need the pool of ready capital. a lot of places don't have large pools.
11 months ago on A rare defense of venture capital classic
@KeithTeare @DaveMcClure More than that is missing. A round capital and operational expertise. A lot of seed funds these days are analysts, investment bankers, or consultants that can scrounge up enough money to pay themselves. Then they hang out a shingle and spray and pray.
Especially if we look to healthcare. There are SBIR grants, gap funds and all kinds of money to get ideas and protocols to commercialization. Then a death valley.
We aren't Silicon anything in the midwest. Usually, midwestern businesses are unsexy and solve problems, earning revenue in the process. There is a great startup culture in Chicago. It's possible to get a job here when your startup fails, and there are plenty of high tech companies here to funnel talent to startups. Wisconsin has a wonderful startup culture in Madison-which could become similar to Boulder.
The biggest problem in Chicago isn't talent. It's money, and having someone with the inside knowledge of how to navigate around. The other problem is many midwestern people have a private equity mindset. That's hard to change, but some more successful exits will help.
11 months, 1 week ago on Recruiting young talent away from the Silicon Valley limelight and into…Milwaukee?
There are bureaucratic loving Republicans, and the lion's share of the Democratic party that want big government in all it's forms. Classical liberals are who we want elected. On the Republican side today, Rand Paul, Scott Walker, and Ken Cuccinelli are ones to watch. They want to dismantle the state and go back to individual freedom.
11 months, 2 weeks ago on Why shutting down Groklaw & Lavabit was a bad move
@david pratt "flooded with service vampires who are acting as coaches."--->great point and any accelerator worth its salt will weed them out. Additionally, people should actively weed them out of their local ecosystems
11 months, 2 weeks ago on Let’s kill the demo day and replace it with a one-year reunion
one reason they do it is efficiency. it exposes the company to a lot of investors at once. the companies are curated by the accelerator. the pitch allows the investor to whet their appetite, and cause more meetings.
Mark Suster says he doesn't go anymore. I go for a lot of reasons. One, I am interested to see how the companies I mentored do. Two, to see friends, three to think about their pitches and see if I like anything randomly, or learn some new stuff about something I didn't know about.
The idea of bringing them back after a year isn't a bad one. But, many times they need that early funding to make it a year.
Disrupting education has to happen. Currently, innovators are trying to disrupt it and they are going against an immovable force. Big government bureaucracies and teachers unions.
1 year ago on Disrupting education
This is a meaningless statistic. There has always been income disparity, and there always will be in a capitalistic society. Marianne Bertrand has done a lot of research on income: http://www.chicagobooth.edu/faculty/directory/b/marianne-bertrand#awards It's not a case of the rich get richer and the poor get poorer.
There are reasons that the poor stay poor, and it has little to do with income. It has to do with skills and upbringing. Poor people generally come from one parent homes, and have poor schooling. They aren't college grads, let alone high school grads. 75% of African American births are to a single mother. Drop out rates are increasing, in high school.
Instead of focusing on accounting and how to divide up a fixed pie, why not figure out how to grow the pie for everyone. Your argument begs a different question, what's the right amount of money? How much should anyone have?
It also ignores the risk people take to make the money they earn. Why do you want to limit risk taking and upside?
1 year ago on America can kiss its ass and consumer economy goodbye: The view from dystopia
@KenG @MattPrice Glenn Harlan Reynolds may be one of the most "progressive" thinkers today. But I doubt he would caucus much with Gore or Clinton.
1 year, 1 month ago on Southern exposure: Bourbon & Boots raises $270K and is my new favorite place to shop
And good pimento cheese. I am from the north, half my family from the south. My kids went from an urban school in the north to some of the most southern schools, Ole Miss and Davidson. Southern culture is core to American culture in a lot of ways. It gets lost in the vitriol of people perpetually living in 1960.
I love the south. It's beautiful in some places. Like the entire state of Virginia, and the Smokies on both sides, Tennessee and the Carolina's. New Orleans is one of the most interesting cities in America when it comes to confluence of cultures. Don't count it out.
@crucible @The Expert Depends on your view of the weather. In many places you can have all four seasons in one day.
1 year, 1 month ago on Memo to non-Valley, non-NYC ecosystems: No one you want cares about the cost of living
@capitalistic @pointsnfigures I can't talk about Boston, I am a Chicago BlackHawks fan. (But Boston is a very good place for a startup)
@Celestia Tzatziki @pointsnfigures Spothero.com, parkwhiz.com
And I forgot to add, you are all welcome to come to Chicago. There are good things happening here. Best summer city in America.
I think you make some good points about "all inners" vs "hedgers". But the cost of living argument doesn't hold water.
There is a cost/opportunity cost to everything. The big advantage a place like SV has over Chicago is density. It's got a 50 year head start. But, things can change fast. I also don't see it as "us vs them". A rising tide lifts all boats. With the cloud, virtual communication, and other ways to collaborate, things are changing. Some entrepreneurs see no advantage to being in CA anymore. CA has a lot going for it besides density. The weather is great, SFO is a great town with culture, pro sports, and diversity.
Places like CA, NY and IL need to be very careful. They are chasing people away. Not necessarily startup people, but when the middle class hits the road, it makes places less sticky and interesting to live. Austin is a small town with a lot going for it. Nashville is a perfectly good town to move to. Kansas City is a good place with a nice local culture. Boulder is a cool place. So is Seattle.
Great ideas can come from anywhere. No one has the market cornered on them. Great companies can be built in a lot of places today-they couldn't ten years ago.
If there is one thing other cities need to mimic about SV, it's the acceptance. NYC has always had that too, since it's an Ellis Island town and an investment banking culture. No one cares where you came from, just do it.
They don't teach risk/reward in MBA school. Many VCs follow the herd. When I traded my own money in a trading pit at CME, I saw the same thing. There were a few great traders that truly did imaginative stuff and took a lot of risk-and then there were the other ones that followed them and lived off their trailblazing.
It's trite to say you have to think out of the box. But, the reality is most people don't.
1 year, 2 months ago on Dave McClure, Risk Taker
Private markets are more efficient than government run ones. They will provide access to more care at cheaper prices. The problem with government run health care is it looks at controlling "cost" which is not the same thing as "price". When you are younger, you need a different kind of health care plan than when you are older. Govt run health care is one size fits all. For example, I have to buy insurance against autism, pregnancy insurance etc-even though my wife and I are over 50. But the state mandates it for private insurance. Totally inefficient.
Younger people need less health insurance. Under Obamacare, they will be forced to subsidize older people. That's just one problem. There are far too many and while we certainly needed health care reform in the US, Obamacare did nothing to reform it so health care works better for citizens.
1 year, 2 months ago on Just because I don’t understand American healthcare doesn’t mean I shouldn’t provide it (Or: Screw You, Papa John)
New York taxes aren't exactly a bowl of cherries. Chicago is cheaper-and NY Cali and IL have the same pension crisis.
1 year, 4 months ago on Because of asset seizures, I am starting my new company outside California
Problem is the stats were manipulated. There is no real scientific evidence of global warming. The scientists won't subject assumptions or their studies to open peer review. http://pointsandfigures.com/2013/03/16/global-warming-is-bs/
1 year, 4 months ago on Climate Change, Remixed: Make your own explainer with our interactive, remixable video
and I wouldn't rule out $GRPN becoming Groupon 2.0. Losing Mason must be a sign they are revamping their executive suite. They have a lot of cash on the balance sheet, and a lot of Big Data on customers.
1 year, 4 months ago on Groupon may be the ultimate goat right now, but mark my words: We’ll see a Groupon 2.0
check out walk.by
goes back to structural holes, setting up a company for brokerage or closure. She needs to revamp corp culture, and the best way to do it is bring everyone back under one tent. I blogged about it here. http://pointsandfigures.com/2013/02/28/is-marissa-mayer-against-womens-rights/
1 year, 5 months ago on Newsflash: Marissa Mayer isn’t a dictator. She runs one company. Shut up and let her
@Alvaro T @bgoldberg I am with Mr. Goldberg. It's a normative judgement as to what is ethical and humane, and what is not. Do you eat vegetables that have been fertilized? Some people would say that's not ethical. Most of the videos on YouTube are sensationalized. Anytime we kill an animal, most people wretch.
1 year, 5 months ago on Screw you, California — I ate foie gras last night. At a restaurant
@tmerrifi Yum. Fois Gras. Would eat it every day if I could afford it.
you are correct, a distraction. If you are going to check out NYC, you ought to check out Chicago. We have some tough fiscal problems but it's cheaper than both NYC and California, and we eat better too! We banned fois gras, but brought it back-so there is hope. One of these days they will legalize unpasteurized raw milk.
depends. the founders of lightbank went to law school. it creates an entrepreneurial mindset and way of thinking even if you don't practice law. going to business school is a smart idea if you choose the right business school. many kids aren't ready for the real world after high school-maturity wise or knowledge wise. college allows them to grow up-as long as they approach college with the right mindset. (I have two kids in college). The maker mentality is correct-content is king as long as it creates value. How do you know Spanish wouldn't be an asset? I would agree, majoring in a soft major like Sociology is pretty stupid and a total waste of time at college. Other softer majors like Poli Sci strike me as dumb-since governments produce nothing. I also agree this generation is screwed. But, it's not as negative as you portray.
1 year, 6 months ago on Young people are screwed… Here’s how to survive
here is one problem. Each individual investment is independently and identically distributed (iid). The probability that any one start up knocks it out of the park is about the same at seed stage. So, spreading bets makes a lot of sense. because of the math behind funds, hitting only singles and doubles becomes a riskier strategy than going for more home runs.
1 year, 6 months ago on The VC’s paradox: We can’t all be black swans
you can do similar on alltuition.com
1 year, 7 months ago on Attention student loan borrowers: Tuition.io opens its doors to manage your repayment
Been there done that. Very nice summation. Fortunately, my girl stayed with me.
1 year, 8 months ago on The last day
@chaselimousine Competition stinks doesn't it. Create something cooler. People will use it.
1 year, 8 months ago on Proposed Chicago Regulations to Shut Down Uber Black – We Need Your Help!
I disagree. You don't build companies just for the poor. You build companies that create value. The nerds in certain countries will build companies to solve different problems than SV. Capitalism has lifted more people out of poverty than anything else. Big government doesn't work, and big government programs don't work. Only entrepreneurs taking risk creates value for everyone. Value in product, and value in jobs.
1 year, 9 months ago on Why Bono is almost right about the healing powers of capitalism
Interesting. @kapowevents is doing a similar thing in a different space.
1 year, 10 months ago on No More Lame Fruit Baskets from Your Boss: Wantful Goes Corporate