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Great article by Eric Ries on how Silicon Valley works its biases - without necessarily even knowing it does...
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One last suggestion, which is a technique I learned from my IMVU co-founder Will Harvey. When it’s possible, I always believe in giving a promising candidate who interviewed poorly a chance to demonstrate their skills with a real application exercise. At my last company, for programming jobs, we’d give some candidates a chance to prove themselves by writing a real working program in just a day or two (usually, to write a version of Tetris from scratch). We’d do the evaluations of that code blind – without the person in the room. In some cases, we’d dramatically revise an opinion formed during our live interview. The work product is a more realistic test, although it requires much more work on the part of the candidate.
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Occupy Wall Street as start-up - neat!
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The bankers are essentially oligarchist socialist types these days, looking for handouts from the government. The protesters? They've got their wits, their sleeping bags, their energy, and their American dream.
Where's the better ROI?
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Two Thursday morning nuggets from live-blogging of Grow Conference (Vancouver) by TechVibes:
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9:00 AM. Debbie says entrepreneurs need nourishment. Talks about the "next gen entrepreneur." They grew up online. Their businesses are lean, cloud based, collaborative, viral, social, authentic, metrics driven, and transparent. Old businesses were about location—with the internet, new businesses are about attention.
9:05 AM. Howard returns to discuss philosophies—"social leverage over financial leverage," "too small to fail," "punch a banker, hug a developer," and more. He says you have to be passionate about your startup, build domain exprtise, and expect to fail once, twice, thrice. He says distribution is underrated, don't worry about profitability immediately. In Today's world, developers make you, not bankers anymore. It's important to visualize things and wirte stuff down. Howard advises entrepreneurs to play Risk. Attack incumbents with one core feature that you have mastered and grow from there. Entrepreneurship is a little like Poker, where a young kid can beat an older man. It's a mix of skill and luck and underdogs can win.
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Excellent interview by Anthony Tjan with Dany Levy, founder of Daily Candy.
Although over 2 years old, Jonathan Weber's "FAQ" for starting an online publication focused on local news is still useful and highly informative. Weber covers raising money, staffing, competition, revenue streams/ business models, etc.
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Did you raise money from investors? How did you go about that?
Yes, we raised a high-six-figure sum from a group of angel investors. There are some friends and family in the deal, and there are also professional investors who did it as a personal angel investment. The success of the fundraising was very much dependent on my track record and reputation as editor in chief of the Industry Standard, and required relentless networking and cajoling over a period of almost a year.
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What is the revenue model for New West? Advertising?
Online advertising is the core of the model, yes. However we also have several other revenue lines, including a small indoor advertising business, a custom-publishing business, and a conference & events business. Multiple revenue streams are a lovely thing. It remains difficult to make money on online advertising alone unless and until you have boatloads of traffic, and it is especially difficult to achieve that with a local site.
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31-page PDF (still to read), "The Entrepreneurial Advantage of World Cities," subtitled "Evidence from Global Entrepreneurship Monitor Data."
From the abstract:
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Recent discussions in the Economic Geography literature increasingly focus on creative cities and the importance of creativity for achieving economic growth. Considering the increased attention on urban areas it is not surprising that the regional dimension of entrepreneurship is a subject of great interest. We set out a framework encompassing the individual process between entrepreneurial perceptions and entrepreneurial activity and demonstrate how the urban environment can have an impact on this process.
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Report on research by Vivek Wadhwa, "a former tech entrepreneur, ...Wertheim Fellow at the Harvard Law School and an executive-in-residence at Duke University." Turns out that the idea that tech entrepreneurs are predominantly Mark Zuckerberg's age are exagerrated/ wrong.
Another interesting finding is that lack of health insurance holds many older potential entrepreneurs back. (Yet Canada has affordable universal health insurance, but the US easily overtakes it in the entrepreneurship category.)
Additional insights also re. education and training.
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<!--DECK--> Startup hotshots are older and more educated than generally thought; it follows that training and finance skills should be offered to all age groups
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recent research I helped lead at Duke and Harvard shows that most U.S.-born tech entrepreneurs are middle-aged and well-educated.
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Fascinating presentation by David Heinemeier Hansson, the Ruby on Rails guy and developer at 37 Signals: advice on start-ups, life, the universe, and everything.
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