Thoughtful (of course) piece from Mark Anderson of Strategic News Service on our current credit market challenges and how we got here.
Month: April 2008
Don’t overlook the data on your way to SaaSland
Interesting post from VentureBeat that includes an audio interview with Gordon Ritter of Emergence Capital on the future of SaaS. Emergence has solidified its position at the center of the SaaS universe with an exclusive focus on this model of software delivery.
Gordon speaks about the importance of data going forward and the unique perspective SaaS companies have to provide not just software services but information services. Not just being a steward of the data but helping customers understand usage, patterns, and insights from HOW they use the software tools. A basic (and early) example is how Salesforce currently does this with periodic emails on my usage of their product.
The opportunity is for software companies to help their customers understand how to better use their products (ie, get more value) as well as learn in about as real-time way as possible what customers/prospects want and need.
A list to live for
Here’s the list of the top 50 restaurants in the world (via Paul Kedrosky). Looks like I still have a great deal of eating (and traveling) to do.
A company I like – Leucadia National (LUK)
It is clear that I am not one to dole out stock recommendations (reference my call on Bear Stearns) but I did want to serve up a company worthy of your review if you are so inclined. I read an article about Leucadia National (LUK) many years ago and was intrigued for several reasons. First and foremost, the story of Ian Cumming and Joseph Steinberg and how they have taken a distressed company and over the past 30 some odd years built an enormous amount of shareholder value by making (mostly) smart investments is a fascinating story.
Leucadia is sometimes called the "next Berkshire Hathaway." Let’s be clear – the "next" of anything rarely pans out so don’t be lured by the promise of finding the next Warren Buffet. Do, however, check out Leucadia and the really entertaining (and informative) annual letter to shareholders here. The website is not flashy but this company owns some really interesting things from iron ore mining in Australia to Pine Ridge Winery (one of my favorites) to a recent investment in investment bank Jefferies. I have owned it for a while and enjoy learning a thing or two from the smart folks leading the company.
A week off last week
I took a week of vacation last week with the family in Colorado. We experienced a huge amount of unexpected snow as we spent our time between Beaver Creek and Vail after catching the Rockies season opener in Denver (thanks again Gabe, Christina, & Lisa). The best part of the week was getting to spend so much uninterrupted time with my daughter. Spending day after day together in such a beautiful place rather than just weekends and mornings/early evenings was truly special time.
I managed to more or less unplug although board meeting prep and a Blackberry did keep me in the loop as a spectator.
We did a bit of skiing and spent time at Bachelor Gulch, Beaver Creek, and ended the week in Vail. It was the last week of the ski season so lift tickets were discounted (a bit) and many restaurants were offering discounts on meals and wine. We enjoyed Larkspur and Terra Bistro in Vail.
One of the many memorable experiences was breakfast at the Little Diner in Vail. We were looking for a bacon and eggs breakfast and this little place is actually just a counter surrounding a cooking station. I don’t remember their names, but the couple running it was great even though they had just opened, were short handed and very busy that day. Being an entrepreneur is not always just about venture capital and the new new thing. It is about the passion and courage to follow your dreams and take the plunge. An example for us all to follow. If you are in the Lionshead area for breakfast, check it out.
Another great experience was time at Garfinkel’s in Vail. I am a huge fan of it for relaxing and a few beers. I have lots of great memories there with friends going back many years during both summer and winter visits. It was kind of bizarre to share a meal there with my family.
When will people learn about what they put in email? (an ode to Clay Bennett)
If you plan on coming to a city and stealing the basketball team while acting like that is not the plan, don’t send emails back and forth with the boys back home about doing it. Clay Bennett is learning this recurring lesson about email the hard way and this undeniable proof that he was not negotiating in good faith for the Sonics has not only brought on former owner Howard Schultz’s ire but puts his crusade to bring professional basketball to Oklahoma City in jeopardy. Even Washington Gov. Gregoire is fired up calling Bennett out as a liar.
I am attaching two emails here. One to NBA Commissioner David Stern that is an over the top bit of ass kissing and another to the gang in Oklahoma City about the effort (you can almost read the yeeeha! between the lines):
"I am a man possessed! Will do everything we can. Thanks for hanging with me boys, the game is getting started!"
I am not an NBA fan at all and quite frankly this whole thing has been a huge distraction both for this team as well as this city so the sooner it is resolved the better for all parties. Unfortunately, this bit of bafoonery ensures it will continue to chew up news cycles and legal fees for some time.
Clay, here’s a bit of advice, if you and the boys back home are going to hatch another brilliant scheme in the future, don’t use email to crow about it.
This caught my attention today
Via a post on Silicon Alley Insider regarding Google’s paid-click growth via analysis by Mark Mahaney of Citi quoting Comscore stats (got all that?). Here’s the link but this is the statement regarding potential causes that got my attention:
"A macroeconomic dampening of commercial queries by searchers"
Welcome to new economic indicators. If people are buying less, they are searching less, and they are clicking on ads less. Internet search activity as spending indicator.
So, what did you do last night?
Finish the taxes, read a book, catch up on email? I’m guessing nothing like this (via CrossingWallStreet).
Off the grid
Apologies for slow posting. I am doing my best to be unplugged this week. Will resume posting in a few days.
Does ebusiness belong in IT?
According to our recently released survey, that’s where roughly 90% of companies place it. I think this sets up a bit of a misalignment of priorities. eBusiness is about company to company communication and about orders and revenue. These are generally not at the top of the IT goals list and adding another company’s system to the mix seriously challenges the goal of keeping control over the IT environment.
Many of our customers align ebusiness with sales or marketing and these organizations not only benefit from a longer and wider view of the function but also are keenly aware of the benefits that come from deep integration with customer ordering systems and accelerated invoicing processes.
Venture Vice 