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<title>BossTalks.com Tag: entrepreneur</title>
<link>http://www.bosstalks.com/</link>
<description>BossTalks.com Tag: entrepreneur</description>
<language>en</language>
<pubDate>Wed, 08 Sep 2010 00:38:58 +0000</pubDate>

<item>
<title>aliraza on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-212</link>
<pubDate>Sun, 21 Feb 2010 00:25:09 +0000</pubDate>
<dc:creator>aliraza</dc:creator>
<guid isPermaLink="false">212@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;as we know MBA is a globally recognized degree and MBA IT is a good task to do if someone really wants to get enough of IT&lt;br /&gt;
But it is not necessary or compulsory there are some other post graduate degree e.g. MS IT or some others&lt;br /&gt;
i am a Pakistani and being a Pakistani i must say worth of degree is actually the rank and goodwill of university
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-212">(read more)</a> </description>
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<item>
<title>kaushik on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-205</link>
<pubDate>Wed, 09 Dec 2009 09:01:55 +0000</pubDate>
<dc:creator>kaushik</dc:creator>
<guid isPermaLink="false">205@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Hi, i have completed my MCA and want to do MBA. Should i do MBA IT or Marketing or some specialzation.pls guide me?
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-205">(read more)</a> </description>
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<item>
<title>green on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-195</link>
<pubDate>Sun, 06 Apr 2008 09:19:58 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">195@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Everybody has different goals. Personally I think MBA as a helpful, but not necessary knowledge. It does cost a lot - and before investing that much you need to calculate your ROI. Sometimes you can better ROI by gaining by specific knowledge - project management, finances, law, etc. - but not the &quot;whole&quot; MBA package. I would say we can think of MBA as some kind of &quot;all-stuff-need-to-know-crash-course&quot;, but again - it's all about personal goals and ROI :-)
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-195">(read more)</a> </description>
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<item>
<title>susanvarghese2007 on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-186</link>
<pubDate>Fri, 28 Mar 2008 15:30:57 +0000</pubDate>
<dc:creator>susanvarghese2007</dc:creator>
<guid isPermaLink="false">186@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Are you kidding me?  MBA's rock!  The experience of being part of a B-school is what makes an MBA an MBA.  Classes at odd hours...tight deadlines...assignments to be submitted on a daily basis...group work (?) and managing free riders??  And not to mention creating those classy ppt's at 4:00 in the morning and sharing a pot of coffee with folks you just don't want to work with. (Forget sharing coffee with)  That's management dude!&lt;/p&gt;
&lt;p&gt;Till I went to a B- school- I never realized what all the glam was about the so called MBA's.  When I was there- I thought it was all about learning- googling to be precise and of course learning how to effectively &quot;plagiarize&quot;.  Each day is hard work- but at the end of it all- I realize that the process of getting the MBA was the &quot;actual learning&quot; in itself as against all the OD, OB, T &amp;#38;D, or Management Concepts...&lt;/p&gt;
&lt;p&gt;Now does an IT professional need an M.B.A?? Having worked in the IT sector for a few years now- I can certainly tell you this- if you want to climb up the ladder- you gotta have those 3 letters next to your name...If you are in a managerial role- you'll do better with an M.B.A.  But if you are a born, natural leader- trust me, you'll still do better with an M.B.A!!
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-186">(read more)</a> </description>
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<item>
<title>green on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-168</link>
<pubDate>Thu, 14 Jun 2007 14:38:53 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">168@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;MBA is helpful in case if you want to &quot;organize&quot; all your knowledge and put everything in &quot;proper order&quot; in your head. It helps to get closer to alumni which eventually is a vital moment for networking.&lt;br /&gt;
Other than that - as I mentioned before on this forum -- even nowadays there are companies who prefer entrepreneurial skills and previous startup experience to &quot;cold books of MBA student&quot;.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-168">(read more)</a> </description>
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<title>leninkster on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-167</link>
<pubDate>Wed, 13 Jun 2007 15:05:45 +0000</pubDate>
<dc:creator>leninkster</dc:creator>
<guid isPermaLink="false">167@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;I have written quite extensively in blogs about this very subject.  I keep coming back to the same question &quot;Who actually benefits from an MBA?&quot;&lt;br /&gt;
Obviously, the individual who has spent large amounts of irretrievable hours and vast sums of money, believes it to be the case, or they wouldn't do it.  Equally as obvious, the companies that mandate an MBA be part of the pre-requisite for a job believe it, but actually can't give concrete evidence as to why it helps.  The Colleges and Universities definitely think its a good idea, as they would stand to lose millions of dollars if the MBA was debunked.&lt;br /&gt;
But if everyone is mandating MBA, and more companies are having MBAs run their organisations, why are so many companies in difficulty?&lt;br /&gt;
I think it was Paul Getty who said, if you have two executives that think alike in the same room, one of them is redundant.&lt;br /&gt;
Is the current MBA fanaticism putting out clones of people all thinking the same way?&lt;br /&gt;
I agree with the statement, “If you do what you've always done, you'll get what you've always got”.  Maybe it's time for companies to start to invest in self-taught entrepreneurial spirit, and actually go forward, rather than rely on managing things so much that they just stay still, or worse go backwards.  I don't know, only time and perhaps the collapse of a few more companies run by MBAs will tell I guess.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/68#post-167">(read more)</a> </description>
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<item>
<title>green on "Does an IT professional need MBA?"</title>
<link>http://www.bosstalks.com/topic/68#post-149</link>
<pubDate>Sun, 15 Apr 2007 13:34:21 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">149@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Saying &quot;IT professional&quot; I mean somebody, who is looking forward building career or business in IT. IT tech entrepreneur, business owner, CIO/CTO, etc. &lt;/p&gt;
&lt;p&gt;Guy Kawasaki (an entrepreneur, author and the CEO of Garage Technology Ventures, a venture-capital investment bank for tech firms) &lt;a href=&quot;http://www.forbes.com/columnists/2004/03/17/cx_gk_0317artofthestart.html&quot;&gt;thinks&lt;/a&gt; the following:&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
I don't think an M.B.A. matters very much for starting a company. A much better educational background is an engineering degree. You can always hire MBA's, but if you don't have the ability to conceptualize and deliver a product, you've got nothing.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;However, he &lt;em&gt;does&lt;/em&gt; have an MBA himself. Even if he mentions that the value of an MBA for company starters is a &lt;em&gt;negative $250,000&lt;/em&gt;.&lt;/p&gt;
&lt;p&gt;Brad Feld (managing director at Foundry Group and Mobius Venture Capital) has his &lt;a href=&quot;http://www.feld.com/blog/archives/2006/04/dear_ms_an_mba.html&quot;&gt;own thoughts&lt;/a&gt;.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
If you want a two year break from life, go to business school.  If you want to meet a bunch of new, generally smart, and always interesting people, go to business school.  If you are a techie but like the business side of things, want to get an intellectual (and functional grounding) in business stuff, want a two year break from life, and want to meet interesting people, go to business school.&lt;br /&gt;
...&lt;br /&gt;
If you are an investment banker or a management consultant, it’ll help.  If you are looking to be a VC, it might help, but it probably won’t, as the population of people being recruited into the VC business continues to be very small.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;Sounds like he agrees that MBA doesn't really help for entrepreneur who is going to do business -&amp;gt; VCs way, but still he insists that MBA does help for the personal growth at least.&lt;/p&gt;
&lt;p&gt;But let's think for a second. If you are interested in being entrepreneur &lt;em&gt;only&lt;/em&gt;, and you do not want to run the business yourself -- MBA really could be an option not to pursue, but to hire somebody with MBA. But isn't the best part of the whole entrepreneurship is &lt;strong&gt;running your own business&lt;/strong&gt;? Of course, many people see startups as something to &lt;em&gt;start it, get funding, cash out&lt;/em&gt; and repeat once and once again. Frankly speaking, I never thought this way about them - this is how &lt;strong&gt;&quot;bubble&quot;&lt;/strong&gt; can happen, but not how business works. I prefer my business not to get &lt;em&gt;any&lt;/em&gt; funds at all, but better to be &lt;em&gt;profitable&lt;/em&gt; on it's own.&lt;/p&gt;
&lt;p&gt;Nevertheless, MBA could probably be &lt;a href=&quot;http://yahoo.businessweek.com/magazine/content/06_12/b3976089.htm&quot;&gt;overrated&lt;/a&gt;.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
Only 146 of the 500 executives reported having MBAs, a surprising number considering the hundreds of thousands of B-school alumni with enough experience to qualify them for top jobs. What's more, only 71 received MBAs from the top 10 B-schools, and two-thirds of those executives have degrees from just three institutions: Harvard Business School, Stanford University's Graduate School of Business, and the University of Pennsylvania's Wharton School.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;MBA still is pretty much a tool which helps you in your career. But entrepreneurs usually do not search a job, they prefer to create their own business. So, isn't this the case when top school MBA can give you nice knowledge and a huge debt also? Sure it will. We can also try to consider MBA as something what we &lt;em&gt;buy&lt;/em&gt; to &lt;em&gt;sell&lt;/em&gt; with profit. We can sell it to potential employer, we can sell it to get more social status, better salary.. If we are going to start our own business, then we will be &lt;em&gt;buyers&lt;/em&gt;. In this case, do you think it's smart to get overpriced B-school education instead of &lt;em&gt;just&lt;/em&gt; the same education?&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
Becoming a CEO will ultimately be determined more by your ability to scale social ladders than what you've learned in graduate school.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;And stop once again. Do we really then need a formal MBA education? May be so called &lt;a href=&quot;http://www.businessweek.com/bschools/content/apr2006/bs2006042_3490_bs001.htm?campaign_id=rss_bschl&quot;&gt;&quot;personal MBA&quot;&lt;/a&gt; will work better? Still it's an educational investment, which is not that huge and much more affordable by many people.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
According to the advocates of the Personal MBA, all you have to do to measure up to the pricey MBAs turned out by B-schools is to keep gaining work experience, read a series of books at your leisure, and talk about them with an online community.&lt;br /&gt;
...&lt;br /&gt;
The Personal MBA, essentially an online list of reading material and accompanying message boards, is part book club and part online community, where participants tackle the reading list one book at a time, then exchange thoughts and insights on the Web site &lt;a href=&quot;http://personalmba.com/&quot;&gt;personalmba.com&lt;/a&gt;. There is no diploma, dean, faculty -- or cost, other than whatever you pay for the books or a library card. Though still in its infancy, the grassroots PMBA is gaining a following -- and might be yet another ding in the armor of traditional MBA programs.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;Personally I never attended MBA school, but I spent some time on a Personal  MBA site and actually time to time some of posts their picked my interest. On the other side, list of books on the Personal MBA site is very nice!&lt;/p&gt;
&lt;p&gt;Looking back to the comparison between top ranked B-schools and &lt;a href=&quot;http://netscape.businessweek.com/bschools/&quot;&gt;online&lt;/a&gt;/&lt;a href=&quot;http://netscape.businessweek.com/bschools/06/part_time.htm&quot;&gt;part-time&lt;/a&gt; and Personal MBA - as for me the main difference stays alumni.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
Despite the cost, B-school professors and administrators say there is no substitute for the intangibles -- most notably the alumni and peer network -- that come from a traditional MBA experience. Not to mention the access to corporate recruiters and career advisement offices.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;As for Personal MBA - it also inspires big companies to implement the same model for the employee training programs, but also works very well for the personal education, no matter what MBA or whatever else you want to pursue. Truth to be told, I love &lt;strong&gt;self-education&lt;/strong&gt;. All my professional experience growth comes from self education. It helps to force yourself to work on you, also.&lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;&lt;em&gt;&lt;br /&gt;
Although he had a great technical background in computer systems administration, Simon Janes, a tech entrepreneur who has read between 15 and 20 of the PMBA books, didn't have the business know-how to direct company strategy. Janes says reading the books helped him see his business through a management lens, instead of the technical one that he was used to.&lt;br /&gt;
&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;  <a href="http://www.bosstalks.com/topic/68#post-149">(read more)</a> </description>
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<item>
<title>green on "Startups nowadays - really do not care about IPOs?"</title>
<link>http://www.bosstalks.com/topic/61#post-140</link>
<pubDate>Thu, 29 Mar 2007 21:39:36 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">140@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Nice article recently was published on Business 2.0 called &quot;&lt;a href=&quot;http://money.cnn.com/2007/03/02/magazines/business2/stocks_techs.biz2/index.htm?postversion=2007030706&quot;&gt;As Wall Street quakes, Silicon Valley yawns&lt;/a&gt;&quot;. Beyond this dramatic title, it speaks about (quote): &lt;/p&gt;
&lt;blockquote&gt;&lt;p&gt;
&quot;&lt;em&gt;...&lt;br /&gt;
A funny thing is happening in Silicon Valley.&lt;br /&gt;
...&lt;br /&gt;
Silicon Valley is far different place than it was seven years ago when the dotcom bubble burst. You see, unlike the rip-roaring days of 2000 when countless twentysomething-ers and wannabe day traders bet heavily on rising stocks, Silicon Valley no longer needs Wall Street.&lt;br /&gt;
...&lt;br /&gt;
What it needs are the four cash-rich superpowers (Google, eBay, Yahoo, Amazon), a handful of lesser powers with profitable niches (like Salesforce.com), and the vast co-dependent kingdoms that each has opened up for aspiring entrepreneurs.&lt;br /&gt;
...&lt;br /&gt;
&lt;/em&gt;&quot;
&lt;/p&gt;&lt;/blockquote&gt;
&lt;p&gt;Is it really true? I am afraid that I have to agree at this moment. I believe &quot;potential IPO&quot; still was forcing founders/CEOs to build &lt;strong&gt;better business&lt;/strong&gt; and &lt;strong&gt;better company&lt;/strong&gt; by all means. With those &quot;to be acquired&quot; dreams and goals those intentions getting lost. Of course, it may be better - entrepreneurs are entrepreneurs. They run one company, and then another, and loop back. But how long could it stay like that? Who will be building &lt;em&gt;new&lt;/em&gt; Google or eBay, or (you name it)?&lt;br /&gt;
Startups are fun, but it's still necessary to know that business needs to be run, not just sucessfully launched.&lt;/p&gt;
&lt;p&gt;Anyway. I cannot blame people with goals to sell company when it will be possible. Don't know what I'll do in the face of opportunity to sell my businesses. But, I think it's still a thing to think about.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/61#post-140">(read more)</a> </description>
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<item>
<title>green on "Remarks and notes written down from Startup School 2007"</title>
<link>http://www.bosstalks.com/topic/55#post-120</link>
<pubDate>Mon, 26 Mar 2007 10:02:40 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">120@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Afterpost for my own post -- here is &lt;a href=&quot;http://paulbuchheit.blogspot.com/2007/03/looking-for-co-founder-try-attending.html&quot;&gt;Paul Buchheit&lt;/a&gt;'s blog - where he is sharing his thoughts on what startup school is. ;-)
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/55#post-120">(read more)</a> </description>
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<item>
<title>green on "Remarks and notes written down from Startup School 2007"</title>
<link>http://www.bosstalks.com/topic/55#post-119</link>
<pubDate>Sun, 25 Mar 2007 21:17:58 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">119@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Hi there,&lt;/p&gt;
&lt;p&gt;As you could see, &lt;a href=&quot;http://www.bosstalks.com/profile/2&quot;&gt;white&lt;/a&gt; shared his review of Startup School 2007, and added few photos, even if I am there too, and don't look too pretty :-) Although, it's nice to share this with people here, because experience for me was invaluable.&lt;br /&gt;
Just in case, I decided to put here my own short notes and remarks which I wrote down while listening for speakers. They include my own notes, but obviously, most of part of them is just record of what people were talking about. Frankly speaking, anyway, I am not sure it's possible to learn something from such notes. The best expeirence can be appreciated if you could be there. Nevertheless, enjoy ;-)&lt;/p&gt;
&lt;p&gt;&lt;strong&gt;---&lt;/strong&gt;&lt;br /&gt;
A lot of people. All seats are taken, and some people are on the floor. Macs definitely rule - 80% of people are with Macs. And bad thing we have is no free WiFi. :-(&lt;/p&gt;
&lt;p&gt;It's just about to start - and first one is going to be Mark Macenka from Goodwin Procter LLP with &quot;The Great Value of Avoided Mistakes&quot;. Right now we have short introduction by Jessica, and Mark comes on stage to speak on corporate law for startups.&lt;br /&gt;
Moments:&lt;br /&gt;
- Don't underestimate the competition - spend more time on study and market analysis.&lt;br /&gt;
- Be focused, stay focused.&lt;br /&gt;
- Really, don't try to calculate your future profit. Forget about money. The product and the problem. Run business.&lt;br /&gt;
- Build network, take part in network. Invaluable by all means.&lt;br /&gt;
- Entity - partnership/LLC/corporation (Sub S vs. Sub C). Some make harder to invest in you. LLC is more complex.&lt;br /&gt;
- Importance of proper documentation - who owns company, intellectual property, etc.&lt;br /&gt;
Big questions:&lt;br /&gt;
- Do you own it?&lt;br /&gt;
   rights of former employers - nondisclosure, non-competition, non-solicitation agreements.&lt;br /&gt;
   don't use you laptop for business, don't use it for work.&lt;br /&gt;
   if you hire a consultant - and you didn't sign a paper - it's consultants code. his rights.&lt;br /&gt;
   also don't forget about non-commercial research (sponsors of it, like universities)&lt;br /&gt;
   third party claims of infringement (open source! - pay attention to third party libraries)&lt;br /&gt;
   don't share secrets with people which you even trust (former employee) - only confidentiality agreement should be there.&lt;br /&gt;
- Founders issues: who owns what?&lt;br /&gt;
   vesting&lt;br /&gt;
   transfer restrictions (rights of first refusal, co-sale, ipo lockup)&lt;br /&gt;
   rights of re-purchase&lt;br /&gt;
   loans (rarely good idea - usually bad idea)&lt;br /&gt;
   KISS (keep it simple)&lt;br /&gt;
Advices:&lt;br /&gt;
- Start organized and stay this way&lt;br /&gt;
- Interview lawyers, but talk to them. Ask advice, but from advisors who know what to do. Network!&lt;br /&gt;
- Someone in the company has to be compulsive (absolutely 100%)&lt;br /&gt;
Mark also shared his e-mail and said that questions are welcome. That's nice to hear!&lt;/p&gt;
&lt;p&gt;Other speaker goes on stage. It's Paul Buchheit, creator of GMail. Starting with the formula:&lt;br /&gt;
limited life experiences + overgeneralization = advice. Kind of true.&lt;br /&gt;
List of advices follows shortly. I do uppercase, because it's how stress is being put.&lt;br /&gt;
QUIT YOUR JOB. Advice for you. You are in Startup School, so this applies to you.&lt;br /&gt;
YOU HAVEN'T FOUND IDEA, CO-FOUNDER? Just pick one.&lt;br /&gt;
And now SECRET TECHNIQUE TO SUCCESS. Redefine success. Sometimes it's not money, but knowledge.&lt;br /&gt;
STARTUP HAS A PRETTY ANSWER TO LEARN. You never know how it will fail.&lt;br /&gt;
Usually, they are GREAT PLACE TO LEARN. Things happen a lot faster.&lt;br /&gt;
HOW TO CREATE GREAT PRODUCT. Build fundamentally different. iPod, Google, GMail. Even if someone things they are not unique or new. But. iPod - no mp3 player, but &quot;device which holds all music, fits in my pocket and easily syncs with computer&quot;.&lt;br /&gt;
How can you tell PRODUCT IS FUNDAMENTALLY DIFFERENT? Just see how people use it.&lt;br /&gt;
Continue of advice - try adding the words THAT ACTUALLY WORKS. Take something, but make useful, &quot;that actually works&quot;.&lt;br /&gt;
Please remember. BEING USELESS IN NEW WAY does not make you fundamentally different. Useless is useless.&lt;br /&gt;
Now - quick tips on scaling your web service.&lt;br /&gt;
- disks are not really random access. capacity increases, but seek time remains the same. if your design involves a lot seeking - think about sequential access.&lt;br /&gt;
- now about data: big data and small data. big data = photos, video, mp3. small = tags, names, meta data. big data --&amp;gt; disk, probably amazon s3. small data --&amp;gt; dram.&lt;br /&gt;
- db updates must avoid causing seeks. updates go to transaction log. all writes are sequential.&lt;br /&gt;
Questions?&lt;br /&gt;
What answered and noticed: Paul doesn't work at Google - quit last year, so like took his own advice. Build product for everyone sucks, and really hard. Let's build it at least to some people. GMail was trusted because of Google. But with startup - people probably couldn't trust that much. Try your strengths - which Google can be afraid of doing. Think YouTube and Google Video.&lt;br /&gt;
Overall - loved it. That was fast - but extensive and interesting. Funny and relaxed. All at the same time. &lt;/p&gt;
&lt;p&gt;Show goes one, and we have Chris Anderson, Editor in Chief of Wired Magazine. Starting with showing March 21st, 2000 album of N'Sync &quot;No Strings Attached&quot;. One million in first. Demand distributes - more people have choices, less share every choice gets.&lt;br /&gt;
What also noticed - Chris gives a bunch of names, like NYT, LAT, etc. - but between them he shows bloggers, or web site owners, who posts and has more links than dozen of high printed big scaled publishing magazines.&lt;br /&gt;
Reddit - two smart guys can develop it without crazy management, no spread sheets, lowering tools of production, using RoR, they keep the project and ideas in mind, developing application. Cost of production, cost of distribution and search costs are getting lower and lower. Projector breaks (crap!) - and Chris just continues without slides trying to cut things short however it takes like five or ten minutes only, and we are back again on the big screen.&lt;br /&gt;
Overall - it's pretty much interesting, but like a general lecture. I was not able to write down anything more, just was listening.&lt;/p&gt;
&lt;p&gt;Paul Graham, founder of Y Combinator is here, and really starts fast. He hates Powerpoint, but todays is with slides by Zenter.com which is about to be released soon. Nobody really failed with Y Combinator. Well, may be Kiko - web calendar which failed, but they have being sold on eBay for 250k, and paid off angels, and have year of salary left... starting new startup.&lt;br /&gt;
Paul wants to raise our self confidence. And he wants to be negative. He doesn't want to scream &quot;you can do it&quot;.&lt;br /&gt;
Why don't more people do it?&lt;br /&gt;
1. Too young. (But who do you know? 18 is legally for corporation).&lt;br /&gt;
2. Too inexperienced. (Even if he insisted before to wait till 23, then wait for few years for experiences - now he doesn't agree). Kiko's started after college. And year later again.&lt;br /&gt;
3. Not determined enough.&lt;br /&gt;
4. Not smart enough. If you smart enough to worry about it - you are smart enough. Just forget about it. If you are not smart enough - write enterprise software. Because it's just sales.&lt;br /&gt;
5. Don't understand business. But it's hard in technology. Once you build something good, you can realize business part on fly. People buy startups for strategic values. Not for revenue.&lt;br /&gt;
6. No cofounder. It's a real problem. Investors prefer cofounders.&lt;br /&gt;
7. No idea. All investors say: it's not idea, but team. But really - there is always some practical problem. Look what's missing in your own life!!! Is it perfect? No. Find it. No matter how specific is it to you.&lt;br /&gt;
8. No room for more startups. A fallacy it is.&lt;br /&gt;
9. Family to support. If you have a family - Paul doesn't advise to start it. But it doesn't mean not to do it. It means Paul doesn't advise that. Too much of responsibility.&lt;br /&gt;
10. Independently wealthy. Enough money? Enough is enough. Really.&lt;br /&gt;
11. Don't fence me in.&lt;br /&gt;
12. Need for structure. Nice way of saying: (photo of russian army :-). Don't work for it. Don't start it. Because nobody tells what to do there.&lt;br /&gt;
13. Fear of uncertainty. I can fix it. No uncertainty. You are going to fail. Expect worse, hope for the best. At least it would be interesting.&lt;br /&gt;
14. Don't realize what you are avoiding. You want to know how much job suck? Ask friends. (photo of cubicle)&lt;br /&gt;
15. Parents want you to be a doctor. Treat as a feature request. Parents are too conservative.&lt;br /&gt;
16. A job is the default.&lt;br /&gt;
Awesome speech. It's like a friends talk, nothing even close to lecture or anything like that. Awesome.&lt;/p&gt;
&lt;p&gt;Michael Mandel, Chief Economist, BusinessWeek. &quot;I have no advice&quot;, &quot;I am powerpointless&quot; - this is how he starts his speech.&lt;br /&gt;
I'll be putting just his quotes:&lt;br /&gt;
- You are the reason US market is still competitive.&lt;br /&gt;
- Not worried about SS and Medicare (and bunch of others not worried).&lt;br /&gt;
- Worried about creativity growth. Need as much innovation as possible.&lt;br /&gt;
- We need more need.&lt;br /&gt;
- ..and political system - with politicians favoring innovations. They can make it important.&lt;br /&gt;
Also Michael shares his e-mail and welcomes all questions, promises to reply all of them. :-)&lt;br /&gt;
One nice question from auditory: H1b and local people. Answer: doesn't matter are they here, or in India. Really. Move up - don't necessary to become lawyer or IB (investment banker). Start a company. That is adding new information. And by definition these things are getting paid well. Do innovating, risk taking... that works.&lt;br /&gt;
Other question: why BusinessWeek has nothing on startups? Because it is in BusinessWeek's addition - SmallBiz.&lt;/p&gt;
&lt;p&gt;Waiting for the next speaker, which suppose to be Max Levchin, founder of PayPal and Slides. He lives in San Francisco (what he shares with us and says that Paul forc.., well asked him to come. What he is going to share - is a talk about Product Management. Max started his new company - Slide, and he shares his e-mail.&lt;br /&gt;
85% startups fail first year. Why is that?&lt;br /&gt;
You will go through ideas. 6 different. And 6th will be good. But it can fail. Why? Most likely it's good. But UI is wrong.&lt;br /&gt;
If something not working - dig deeper. UI. Name. Something else.&lt;br /&gt;
Do out of body experience. Be able to observe user which you are going to target.&lt;br /&gt;
Block the thought &quot;that's cool, that works, wow, ...&quot;. But measure stuff. Every banner. Every click. Everything. Every single thing you can. Build graph from logs. See what users ARE doing. This is what they want.&lt;br /&gt;
Colors - blue is better. A+ -- your product is within dead sins.&lt;br /&gt;
Don't just do very simple. Do few steps. Let user investigate. Continue. And then do the button. Because at least the person really is about to do something. Not just clicking because button is big.&lt;br /&gt;
Overall: Max was great. Young, impressive, very funny. Perfect and real entrepreneur! It's pretty understandable why he was and is successful.&lt;/p&gt;
&lt;p&gt;Ali Partovi and Hadi Partovi (founder and president of iLike and bunch of other companies before) are next speakers. They are brothers - twins, though, they are pretty different. Background: started with Microsoft and Oracle, then IE, then started LinkExchange, TellMe, then working to Microsoft and MSN, starting GarageBand, and now together started iLike.&lt;br /&gt;
- Can I easily explain the customer need in one or two sentences?&lt;br /&gt;
- Does the business scale? It's worth pointing out - can you double your revenue without doubling your staff and costs?&lt;br /&gt;
- Am I creating added value?&lt;br /&gt;
- Will the users naturally recruit new users?&lt;br /&gt;
- Will the value delivered to customers increase as the number of customers increase?&lt;br /&gt;
- Am I passionate about it?&lt;br /&gt;
DO: Listen to customers; Stack rank the top problems that are core to success; Make frugality and profitability part of your culture - avoid luxury and cut spending anywhere possible; Move quickly, make decisions fast - no 12 month development projects; Have a strong CEO; Focus; Hire great people;&lt;br /&gt;
DON'T: Be distracted by press; Take your company culture for granted; Be greedy in negotiations; Ignore you gut feel about employee or candidate; Do anything to get in market in time; Forget to have fun.&lt;br /&gt;
Pretty okay, but too serious and not too many of things which I didn't know.&lt;/p&gt;
&lt;p&gt;Rahoul Seth, CFO of Adteractive talks on &quot;Financing for Startups&quot;.&lt;br /&gt;
0 (seed)) Represent idea from the view of consumer (customer problem your are solving). Business plan - strategy, market requirements, cash requirement. Founders 1) Strong expression of interest. Beta product; Go to market plan; Initial team 2) Successful client deployments; Roadmap to growth and profits; Complete team; 3)  Expansion of business.&lt;br /&gt;
[Debt] - Borrow money, pay interest, have to repay (private OR banks);&lt;br /&gt;
[Equity] - Sell a share of your company; Investor makes $ from liquidity (VCs);&lt;br /&gt;
Equity Financing&lt;br /&gt;
- common stock: founders (stock), employees (options);&lt;br /&gt;
- preferred stock: investors (stock and warrants), preferences over common at liquidity event; protective provisions (participation preferred, board representation, dividends, redemptions, anti-dilution).&lt;br /&gt;
Equity Dilution (not necessarily a bad thing). Value: $2M (owner 100%) -&amp;gt;seed-&amp;gt; Value $2.5M (owner 80%, seed 20%) -&amp;gt;biz growth-&amp;gt; Value $10M (seed 20%, owner 80%) -&amp;gt;team expansion-&amp;gt; ..&lt;br /&gt;
GOAL FOR OWNERS/FOUNDERS own 2-10% on liquidity.&lt;br /&gt;
Founders: purchase stock before investor money is received, cheap stock 0.001 per share&lt;br /&gt;
Investors pay FMV: angels - preferred/common, VCs preferred&lt;br /&gt;
Employees: FMV of common in early stage, ...&lt;br /&gt;
Acquisition: most likely outcome; frequently strategic partnership in place; deal structure: stock for stock; tax efficient (tax free exchanged), large potential upside with stock; stock for cash;&lt;br /&gt;
IPO - another financing - provides liquidity/currency; market conditions; sarbanes-oxley impact ($2.5-$3.5 annual cost); senior executives (high risk in today's legal environment, difficult to get liquid).&lt;br /&gt;
Available financing:&lt;br /&gt;
- fixed assets - hardware, software (capped)&lt;br /&gt;
- security deposits - letters of credit&lt;br /&gt;
- accounts receivable-factoring;&lt;br /&gt;
- working captial - usually available once profitable;&lt;br /&gt;
Other considerations:&lt;br /&gt;
- early stage must have VC/angel backing&lt;br /&gt;
- financial covenants (min cash balance, working capital, ...)&lt;/p&gt;
&lt;p&gt;Mitch Kapor, president of Open Source Applications Foundation, previous founder of Lotus.&lt;br /&gt;
In two words - general history lecture. I am not found of such, and I need much more intensive amount of information now.&lt;/p&gt;
&lt;p&gt;Greg McAdoo, partner from Sequoia Captial.&lt;br /&gt;
Sequoia Capital does seed (quite few), early, growth. IT Ecosystem - services, software, systems, semiconductors.&lt;br /&gt;
Tend to look for:&lt;br /&gt;
- Clarity&lt;br /&gt;
- Competition&lt;br /&gt;
- Solution&lt;br /&gt;
- Problem&lt;br /&gt;
- Founders&lt;br /&gt;
and all to Market.&lt;br /&gt;
Clarity - why bother? yourself (to believe), management (to focus), employees (to hire/motivate), VCs, customers, bankers, lessors, service providers.&lt;br /&gt;
Founders - define the problem &amp;#38; solution. Some guys started to solve their own problem!&lt;br /&gt;
In business plans - get out early and iterate. Demo, but start right away.&lt;br /&gt;
Very important - to know your competition. Be honest about it.&lt;br /&gt;
Understand the market - ecosystem, trends, dynamics, leverage, speed, distribution, customers.&lt;br /&gt;
With small company - cannot create big wave. But can be around.&lt;br /&gt;
You've got to size the market - TAM, SAM, SOM. Who will be your customer. Who will not be.&lt;br /&gt;
And know yourself - Function contributor; Interim executive; Go the distance; -- Need to explain whom will you see yourself.&lt;br /&gt;
YOUNG COMPANIES DON'T EXECUTE ENOUGH WELL. But as startup you don't need to compete feature by feature. But you need to find your customers. And satisfy their needs. Don't take some piece of market. Get your own.&lt;br /&gt;
Greg also shares his e-mails.&lt;br /&gt;
Short. But very informative. We had a huge line of people for questions.&lt;br /&gt;
I.e. good one about &quot;money making strategies?&quot;: don't need really to be scare of this. Have a bunch of them, reasonable them. Not necessary to fit some proven and specific like advertising. Or other one &quot;when and what to do before approaching VC capital?&quot; Half of million views is nice to e-mail and let know. But probably you will not be able to get attention of VCs. But hit angels, they are looking for such opportunities.&lt;br /&gt;
Greg was impressive - he incredible well speaks on IT, business, and all things around. He know the field from the inside out.&lt;/p&gt;
&lt;p&gt;Mark Zuckerberg, founder of Facebook. Starts with: &quot;Be technical, be young&quot;.&lt;br /&gt;
But actually I didn't get anything more. History on startup? A little bit. Advices not to have family, etc.? May be. Suggestions to be technical only? Yup. Does it all help? Hardly. I really didn't get his speech, and I am not sure if I liked it.&lt;/p&gt;
&lt;p&gt;Joel Lehrer, associate of Goodwin Procter.&lt;br /&gt;
&quot;The Do's and Don'ts of Patents for Micro-Startups&quot;. 1998 - business methods are patentable. Tick starts from there and then grows.&lt;br /&gt;
- Something inventive (high bar) and useful (low bar)&lt;br /&gt;
- Have not been publicly disclosed for one year (low bar)&lt;br /&gt;
- You should be the inventor&lt;br /&gt;
- Will take a long time (~4 years) and can cost a lot of money (~15-20k)&lt;br /&gt;
- Does not guarantee that you can actually practice the invention.&lt;br /&gt;
Overall: lawyer talk. Interesting, but not understandable sometimes.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/55#post-119">(read more)</a> </description>
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<title>green on "Tips by Larry Page and Eric Schmidt"</title>
<link>http://www.bosstalks.com/topic/44#post-90</link>
<pubDate>Fri, 16 Mar 2007 14:54:17 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">90@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;Here are tips by Larry Page and Eric Schmidt  for the Entrepreneur.&lt;br /&gt;
&lt;em&gt;In few words:&lt;/em&gt; Tip 1: Just don't settle.  Especially with employees, it is very important to find great people you are compatible with. Tip 2: There is a benefit from being real experts.  Experience pays off. Tip 3: Have a healthy disregard for the impossible.  Stretch your goals. Tip 4: It is OK to solve a hard problem.  Solving hard problems is where you will get the big leverage. Tip 5: Don't pay attention to the VC Bandwagon. Don't start a company just because you can, have a really good idea that is good regardless of the funding situation.&lt;br /&gt;
You can check out the video in &lt;a href=&quot;http://edcorner.stanford.edu/authorMaterialInfoS.html?mid=1076&amp;#38;fileId=2424&quot;&gt;MPEG&lt;/a&gt; and &lt;a href=&quot;http://edcorner.stanford.edu/authorMaterialInfoS.html?mid=1076&amp;#38;fileId=5522&quot;&gt;WMV&lt;/a&gt;. It's about 4 mins.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/44#post-90">(read more)</a> </description>
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<title>white on "Inspiring and useful books for entrepreneur (my list)"</title>
<link>http://www.bosstalks.com/topic/31#post-41</link>
<pubDate>Mon, 12 Mar 2007 15:40:15 +0000</pubDate>
<dc:creator>white</dc:creator>
<guid isPermaLink="false">41@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;I've got Founders at work on my table, but had no chance to read it.  But as far as it comes about reviews for this book, it looks to be very promising and fun to read.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/31#post-41">(read more)</a> </description>
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<title>johnw on "Inspiring and useful books for entrepreneur (my list)"</title>
<link>http://www.bosstalks.com/topic/31#post-39</link>
<pubDate>Mon, 12 Mar 2007 13:27:47 +0000</pubDate>
<dc:creator>johnw</dc:creator>
<guid isPermaLink="false">39@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;I did like &quot;Founders @ Work&quot; book - very good!
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/31#post-39">(read more)</a> </description>
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<title>green on "Inspiring and useful books for entrepreneur (my list)"</title>
<link>http://www.bosstalks.com/topic/31#post-38</link>
<pubDate>Mon, 12 Mar 2007 13:02:36 +0000</pubDate>
<dc:creator>green</dc:creator>
<guid isPermaLink="false">38@http://www.bosstalks.com/</guid>
<description>&lt;p&gt;I would like to mention &quot;&lt;a href=&quot;http://www.amazon.com/gp/redirect.html?ie=UTF8&amp;#38;location=http%3A%2F%2Fwww.amazon.com%2FStrikingitRich-Com-Profiles-Incredibly-Successful-Websites%2Fdp%2F0071355790%3Fie%3DUTF8%26qid%3D1173729201%26sr%3D11-1&amp;#38;tag=prokhorenkous-20&amp;#38;linkCode=ur2&amp;#38;camp=1789&amp;#38;creative=9325&quot;&gt;StrikingitRich.Com: Profiles of 23 Incredibly Successful Websites You've Probably Never Heard Of&lt;/a&gt;&quot; by Jaclyn Easton, &quot;&lt;a href=&quot;http://www.amazon.com/gp/redirect.html?ie=UTF8&amp;#38;location=http%3A%2F%2Fwww.amazon.com%2FDreaming-Code-Programmers-Transcendent-Software%2Fdp%2F1400082463%3Fie%3DUTF8%26s%3Dbooks%26qid%3D1173729152%26sr%3D8-2&amp;#38;tag=prokhorenkous-20&amp;#38;linkCode=ur2&amp;#38;camp=1789&amp;#38;creative=9325&quot;&gt;Dreaming in Code: Two Dozen Programmers, Three Years, 4,732 Bugs, and One Quest for Transcendent Software&lt;/a&gt;&quot; by Scott Rosenberg, and &quot;&lt;a href=&quot;http://www.amazon.com/gp/redirect.html?ie=UTF8&amp;#38;location=http%3A%2F%2Fwww.amazon.com%2FFounders-Work-Stories-Startups-Early%2Fdp%2F1590597141%3Fie%3DUTF8%26s%3Dbooks%26qid%3D1173729152%26sr%3D8-1&amp;#38;tag=prokhorenkous-20&amp;#38;linkCode=ur2&amp;#38;camp=1789&amp;#38;creative=9325&quot;&gt;Founders at Work: Stories of Startups' Early Days&lt;/a&gt;&quot; by Jessica Livingston. They definitely deserve to be read.
&lt;/p&gt;  <a href="http://www.bosstalks.com/topic/31#post-38">(read more)</a> </description>
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