My First Online Bio

In the curious way that the Internet sometimes ensnares you.  A series of events led me back to my first Web site. There is some oddly interesting stuff in there. This is a first in a series. My personal bio, circa 2000.

Welcome to the World!
I was in a hurry to get here. Born a bit early on a night when my parents were planning on going to a University of Louisville basketball game. The date was December 17, 1960. They made it to the hospital. I am still a UofL fan.

The Wonder Years
Oh the wonder years. That time in life where everything is all fun! Grew up in Louisville, home of the Kentucky Derby.

Spent a lot of time playing baseball and football. My parents were divorced was I was seven. It had a major impact on my life. My dad lived on the Ohio River and did until he passed away. Water skied quite a bit when I was in my teens. Miss my dad quite a bit these days.

High School
If you want to throw me in a category I was a jock. Played football, wrestled, dated cheerleaders, wrestled with cheerleaders. Led Zeppelin ruled.

College
I discovered that I have a brain. Dean’s List and all that stuff. For the record I went to Eastern Kentucky University.

OK, maybe I really did not need a brain. Did not join a frat, got invited to more parties that way. Was a psych major for a while. Did not like playing with rats. Switched to marketing. Sold bibles door to door the summer between my junior and senior year.

Early Adulthood
Went into sales when the girl across the hall told me her father was the Vice President of Marketing at a Louisville firm. Bought a boat. Skied some more. Was a pretty decent beach volleyball player. Quit my job and left Louisville to pursue my MBA.  I doubt if I will ever live in Louisville again. Not that it is a bad
place or anything.

My Wife and Real Adulthood
Abby, my wife, most recently worked at Coca-Cola, a place which isn’t quite as cool a place to be as MindSpring. She had to wear suits, panty hose and stuff like that. On the days that she felt really daring she actually wore pants to work! She was afraid to do it the first time. However, their bennies made up for other
shortcomings. We have talked about her becoming a MindSpringer but she is a marketer too and we don’t think that would work out. I interview a lot of her former co-workers. Before Coke she worked at Leo Burnett and Taco Bell. She left Coke when Kate, our daughter, got an ear infection and had to have tubes put in. I am more proud of her as a professional mom then I am of her being a professional professional.

Abby and I met at Indiana University while in graduate school. She had a few dates with my roommate. Five years later she invited me to go out and play in NYC and (she claims) innocently told me I could stay the night with her in the city (I lived across the Hudson in Hoboken) if we stayed out too late. Well …. one
thing led to another and the rest is history. We have been married since the spring of 1995. I am very happy.

Our First Baby
We had our first child together in the fall of 1998, Katherine Clarie. She came out 9 pounds 3 ounces. Abby had to go natural (not her choice!). Kate is a great tempered strong girl. We like to tell ourselves that it is due to superior parenting skills. We actually know better. We are simply blessed. I am happier.

Our Second Baby
Our second child was born on January 2, James Benjamin. He was five hours and 11 minutes too late to be a millennium baby. Or actually he was about 364 days early. Another big one weighing in at 9 pounds 4 ounces. A boy and a girl. I think we will stop.

October 28, 2009  |  Comments  |  Tweet  |  Posted in Personal

Going to Internet Summit

Being employed by Georgia Tech means that I don’t travel that much for business these days. In all the time I have been at ATDC I think I have gotten on a plane for business exactly once (make that twice, it was a round trip ticket). The first week of November I am going to do it again. I am going to TechJournal South’s Internet Summit 09 in Raleigh. Not only am I going, I am paying for the trip out of my own pocket. For me to start writing personal checks I need to be a little excited. And I am super excited about Internet Summit.

First of all Eric Gregg the publisher of TechJournal South and director of TechJournal South always puts on a heck of a show. They have what looks to be a great networking event on the opening night followed by a day of top notch panels/presentations with executives from comScore, Blogger, Digg, ESPN, Meebo, Pandora, Tapulous, Technorati, Twitter, and Salesforce to name a few. And Don Brown from Twitpay is on the agenda as well.  They are also having a demo pit where a dozen or so of the local Internet hotties are going to be showing off their goods.

Looking forward to what I expect to be more than a full day of connecting and learning with these folks that are a bit outside of my normal circle. Registration is still open. They are expecting a record crowd. I hope to see you there.

October 22, 2009  |  Comments  |  Tweet  |  Posted in Internet

VCs on Planes

Shortly after the attention grabbing article entitled “Study Shows Atlanta Kills Off Start-Up Companies”  I found myself sitting down with Wright Steenrod of Chrysalis Ventures.  Wright leads Chrysalis’ technology practice.  He likes Atlanta, he likes Atlanta entrepreneurs, and he is looking to make some more investments in Atlanta. 

It seems like all this public weeping and gnashing of teeth has led to a good outcome.  Wright and other venture capitalists have come to the conclusion that Atlanta might be a ripe place to make some investments.  They are getting on planes looking for opportunities. 

Back to Chrysalis, on the tech side of their business they invest in companies that make information and
networks more productive and efficient.  They are focusing on businesses that use information to improve people’s lives by organizing fragmented, diffuse date to make it more relevant and useful.  To make it more valuable.  Its a great investment thesis and one that has become my own personal area of focus. 

Take a peek at Chrysalis’ investment criteria and if there might be a fit Wright is in Atlanta quite often these days.

October 21, 2009  |  Comments  |  Tweet  |  Posted in Entrepreneurship, Venture Capital

Emory Entrepreneurial Leadership Event

Emory Entrepreneurial Leadership Event On October 28 I am going to be making my way a few miles east to Emory University and the Goizueta Business School to moderate the Emory Entrepreneurial Leadership Event

Sitting on the panel are Don Brown, Founder & President of Twitpay, Scott Geller, CEO of Zooz Mobile, and Scott Ryan, President and CEO of Asankya

While billed as a way for folks to learn about ATDC I am really looking forward to getting connected with and learning about what is taking place within the Emory entrepreneurial community. The Goizueta Alumni Entrepreneur Network, Emory Undergraduate Entrepreneurs Network, Goizueta Technology Association, and Goizueta Entrepreneurship and Venture Capital Club are all involved.  

Should be a fun night.  Major props to Dave Williams of BLiNQ Media in leading the charge in bringing all these people together.

The event is open to all.

October 20, 2009  |  Comments  |  Tweet  |  Posted in atdc, Entrepreneurship

Awareness Achieved

It has been a long time since the Atlanta Journal-Constitution has shown any interest in the Atlanta startup community.  Not since the bubble burst.  That changed in the past five days.

That changed when David Markiewicz wrote a story in the business section on Venture Atlanta (a great show BTW).  It changed in a big way when James Mallory wrote an op-ed piece on why "We must invest in our entrepreneurs" in the main section of the Sunday edition.  The page was filled out with a piece by Tom Noonan and John Yates on "Atlanta's startups give hope", and one by Mohan Sawhney on "New companies thrive on tough economic times."  

A full page.  In the Sunday paper.  On startups.  On a page devoted to issues important to our community.  The big community of the city of Atlanta.

Atlanta' startup technology is indeed alive and hopeful.  People are noticing. 

Rock on.

October 19, 2009  |  Comments  |  Tweet  |  Posted in Entrepreneurship, Startups

Atlanta Startup Weekend 3

Startup Weekend is back.  Atlanta Startup Weekend 3 is taking place November 13 – 15.  ATDC is once again playing host sponsor. 

In addition to ATDC, A Small Orange and MailChimp have stepped up to sponsor the event.  It’s great to see local tech companies getting involved with such a community building event.  I hope some more jump into the mix.

Atlanta has produced a few of the more successful Startup Weekend companies.  Both Skribit from 2007 and Twitpay from the class of 2008 have secured seed funding and are still operational.  We expect this year to be another good one.  Based on feedback from the community we are keeping the format pretty much the same as 2008. 

I will provide the essentials at the ASW3 blog, but in a nutshell it starts on Friday night when people come in and pitch then vote on startup concepts.  Somewhere between six and eight ideas will be chosen.  People then spend the rest of the weekend creating the concept.  The event concludes on Sunday night at 7 with presentations on what the groups achieved over the weekend.

I can’t promise that you will launch something, that is up to you and your team.  I can promise you will have a most memorable weekend. 

Get registered for this bad boy.

October 14, 2009  |  Comments  |  Tweet  |  Posted in atdc, Entrepreneurship, Startups

When Worlds Collide

Rich DeMillo is blogging.

He is writing about the interesting things that happen when
technology innovation and business execution impact each other.  How
technologists can get things done in a technology company and what
business managers need to know to be successful.  When Worlds Collide is about how organizations can succeed when
business execution and technology innovation seem to be on a collision
course.  The "hey, you got your peanut butter on my chocolate" result.

Rich has an impressive background.  He was in charge of the rebirth of undergraduate education in computer science at Georgia Tech, Chief Technology Officer
at Hewlett-Packard, VP of Computer Science
Research at Bellcore, and Director of
Computing Research at the National Science Foundation.  I had the chance to meet him at a football game a few years back.  He is nice guy.  And much easier to talk to than his background might suggest.

I love the title, When Worlds Collide.  The articles are thoughtful.  And I expect them to be as interesting and thought provoking as Rich's “Murder, Starvation, & Catastrophe – What Eric The Red Can Teach Us About 21st Century Innovation” that he delivered a few years back.  Rich was great in person.  I am looking forward to what he has to say online.

October 13, 2009  |  Comments  |  Tweet  |  Posted in Business, Computing

Don’t Pay to Pitch Your Startup

Jason Calacanis is stirring up trouble again.  He has started a war against angel investment groups that charge startups to pitch.  Calls it “low-class, inappropriate and predatory.” Pretty strong words.

It’s amazing that Jason just discovered this practice.  But I agree with him.  Not the low-class, predatory part.  The part that startups should not have to pay to pitch to angel groups.  I agree.  Don’t do it.

I my little corner of the technology startup world I see lots of deals.  I have talked to over a thousand startups over the past three years.  I have seen lots of startups get funded.  I have never seen a startup get funded as a result of paying to pitch.  Never.  That right there is reason enough to not pay to pitch.  It’s a waste of time and money.

Good startups and good entrepreneurs do not pay to pitch.  They do not have to do so.  Good deals get socialized across the angel community pretty fast.  If you have to pay to pitch something is wrong.  Bad concept or bad team.  Don’t write someone a check. Figure out what is wrong and fix it. 

October 11, 2009  |  Comments  |  Tweet  |  Posted in Angels, Entrepreneurship, Startups

Foursquare is Small

I love Foursquare.  I really do.  I am a SuperUser.  I play all the time.  And have been doing so since it was introduced to Atlanta last year shortly after South By. 

Foursquare_girlFoursquare is fun.  It's on online location based game that is currently available in a select few cities in the United States.  When you go to places you check in on Foursquare you earn points for your check ins.  And when you play the game you earn badges such as Bender, Local, and Super User.  For all I know there may be a Walk of Shame, but I have not yet seen it.  You also get to become "The Mayor" if you've got more check ins than anyone else at a particular place.  It's kinda fun to compete and oust folks.  As a matter of fact it's a lot of fun.  More than fun, it is addictive.  I love it.

And Foursquare has been getting a lot of attention.  They raised venture capital.  And Robert Scoble thinks it could be bigger then Twitter.  I disagree.  Here's why.

Fred Wilson quite correctly points out that the value of a social network is derived with frequent usage and a large friend network.  Foursquare has captured the former through their addictive game mechanism.  The large network however, is an issue. 

I have approximately 1,900 followers on Twitter, 700 connections on LinkedIn, and 300 friends on Facebook.  On Foursquare I have 31 friends.  And 9 requests from others to become their friends that I doubt I am going to accept.  These numbers are partially based on the relative size of the networks and my use of them.  But there is something else at play.  Think about these networks.  The size of these networks are inversely related to their intimacy.  The less intimate the larger the network.

Foursquare is very intimate.  Very.  It tells people where I am.  When I am there.  This leads to much more discriminate friend acceptance.  Anybody can follow me on Twitter.  On Foursquare I only friend people whom I would welcome having a spur of the moment in person conversation.  That number is small.  

And while I love Foursquare, unless they can overcome the intimacy effect or achieve extreme density, they are going to be small as a result.

October 8, 2009  |  Comments  |  Tweet  |  Posted in Internet, Startups

Gimme Three Steps

I know a little about startups and have written quite a bit about the various stages of a startup on FoG.  I was pretty darn proud of myself.  Not anymore.

Christine Herron of First Round Capital has a simply brilliant summary based on the wildly successful MINT.

All I can do is write about it.  Some excerpts.

Why should you raise money, and how much?

  • Step 1: When you’re ready with an Idea: Raise $100K from friends and family, and use it to build a prototype.
  • Step 2: Once the prototype is done: Raise < $1M in seed capital, and get into market with an alpha launch.
  • Step 3: After that initial launch has traction: Raise $5-10M, and use it to prove/scale the model.

How the $100k was spent:

  • Founders: $30K/year living expenses
  • Engineering 1st hires: $30-50K/year
  • Office: $400/cube/month
  • Tech: $10K
  • Legal: Deferred payments for 0.50 – 0.75% of company

Roughly, 2 founders + 1 engineer/contractor = $150K/year burn.

The $750k seed round:

  • Salaries: $50 – 90K/year ($450K/year for 5 people)
  • Overhead: +20% ($100K/year)
  • Legal: $25K + $2K/month ($50K/year)

Which gave them 12 months to get to their first venture round.  Which looked like this:

  • Salaries + Overhead: $200K/year/person
  • COGS: Varies, but even one-time expenses magically add up to $150K/month
  • Legal: $10-50K/month


Total burn for a 30-person team: $6M/year.

Go read Christine’s entire article  Great stuff!

October 7, 2009  |  Comments  |  Tweet  |  Posted in Entrepreneurship, Startups