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Emily Chang has a great write-up of the Showcase event at JP Morgan last night. and her partner Max podcasted the event. thanks emily and max.
Showcase at JP Morgan attracted 282 influencers and tastemakers including most of the top venture capitalists, bloggers, and entrepreneurs in SF. 10 companies presented (see emily's blog for a terrific write-up).
One of the companies I run, the Silicon Valley "I'd love this product even if I wasn't a stealth marketer" (this was forwarded to me by Pat Flanders of the Connector Group)
Why Not? by Barry Nalebuff and Ian Ayres
every entrepreneur and inventor should read this book. it is short, quick, and filled with items to make you think ... literally. the book really helps you think through problems and come up with unobvious solutions. i highly recommend it.
I met Barry Nalebuff at a Renaissance Weekend a few years ago and have just now gotten around to reading Why Not. that is definitely my loss. i should have read it earlier. especially since i loved Co-opetition, Nalebuff's first book.
summation: read this book. it is a goodie.
Note: I don't know anyone currently at Evite. I'm sure they have very capable people there. It is possible that they are starved for resources.
Ok. With that disclaimer out of the way ... my basic thought is that evite has incredibly potential but is an incredibly underperforming property. How much should evite be worth?
2005 was a good year for Evite. Its stats steadily improved and the site got a bit faster.
But it could be so much more.
Remember Evite's ill-fated attempt at building a social network a couple of years back? Well it was a great idea but poor execution (especially poor technical execution).
As an independent company with a new management team, what should evite be worth? Probably north of $700 million.
Amazingly not one has built a better mousetrap than evite yet. I have no idea why. Evite hasn’t substantially changed on the front end in over six years. what's needed is a competitor to evite -- one that integrates with everything, is fast and searchable, and easy to use. Would everyone switch instantly? Not everyone, but the early adopter crowd would. I certainly would.
And so I was reading the Wall Street Journal six months ago when I came across a book entitles Female Chauvinist Pigs. I read the review with interest. I've been wanting to read a book about feminism for the past year and here was a book with an updated 21st century view on it.
So I went online to buy the book and discovered that the author was Ariel Levy. Ariel was a high school classmate of mine who I always admired for her intellect but we had lost touch and hadn't spoken since we were 18. needless to say, I was thrilled that I had some connection to the author as this may have been one of those books I instinctively buy and then just sit on my bookshelf.
Female Chauvinist Pigs is a very interesting book. And though it seems to be written for a female audience, it might be even more revealing for men as it brings up a variety of topics that we generally do not think about.
My advice to you: even is Ariel Levy is not a former classmate of yours, this is a book worth reading (and it is a really quick plane-flight book). Summation: read this enlightening book.
Bill Vick, who I've known and worked with since 1999, just released a new book called LinkedIn for Recruiting. Everything that Bill does is for the benefit of others. If you are in the recruiting industry and don't know Bill ... you might not exist. Bill seems to know everyone in recruiting.
Meebo is growing incredibly fast. I mentioned them in October when they were first starting.
i heard that yesterday they had over 300,000 logins ... in one day! during that day they sent almost 9 million messages (implying almost 18 million carried). wow.
this is from a site that hasn't yet done anything to market itself and has no viral component (yet). what does this mean? it means that Meebo has a compelling product that people really love. i mean really love.
rumor is that Meebo's traffic is growing at over 10%/week. if that's true then Meebo should reach a hundred million messages carried in about 19 weeks (which would be May 31). will they do it? stay tuned and let's check back then....
If you are a company setting up a new health plan or an individual getting a plan, you should consider getting a Health Savings Account (HSA). HSAs are the better cousins of Medical Savings Accounts (MSAs) and were formed on Jan 1 2004. I've had my HSA since then and i will go over the benefits, why you should get one, and things you should think about.
You should consider doing this for 2006.
(note: I'm not a health administrator so check the facts of this post before you proceed)
About HSAs
Health Savings Accounts allow you to put away pre-tax dollars to fund future medical expenses. Unlike its ugly cousin, the MSA, the HSA is NOT use it or lose it. Any money you do not use can be rolled over to the next year. That roll-over money can be used for any medical expenses over time.
You can put away up to $2700 in 2006 for an individual and $5450 for a family. Tax free. This is a big savings ... especially for those of you in Silicon Valley
You can invest your HSA in a variety of different options. Unfortunately, since this is a fairly new space, there are not a ton of choices yet -- but still enough to make it worth it. Some good places:
- HSA Bank - interest bearing account
- First HSA - interest bearing account
- Health Savings Administrators - allows you to invest in Vanguard funds
- a good list of other plans are at: http://www.health--savings--accounts.com/admins.htm
Most of these services provide a debit card for purchases or an easy-to-use reimbursement form.
High deductible plan
You can only use an HSA with a high-deductible plan. Let's say your deductible is $3000 -- that means you pay for ALL medical expenses out of your own pocket (usually through your HSA tax-free account) up to $3000 for the year. Anything beyond that is paid for by your insurance firm. And this usually does not include prescription drugs. And sometimes the plans have some added benefits (like a once-a-year $20 physical).
And you'd be surprised what happens when you pay for your healthcare yourself ... you quickly move to the front of the line, generally get better care, and usually even get things cheaper. Cheaper? Cheaper than insurance companies that bargain for everything?? Absolutely.
He's why. If you do to the doctor for your yearly visit you might want a cardiogram (a test that gives a good baseline of your heart). This is a really good idea to get done. now most doctors already have one of these machines and they have their medical assistants already trained to give you the quick test. So the real cost of a doctor giving you the test is just electricity and a tiny bit of time (5 minutes) from someone of their staff. So you frequently can get free things like cardiograms thrown in with your physical. Especially since you are paying right away and the doctor does not have to worry about forms processing to the insurance company.
So if you are healthy and have healthy employees, then this is a good deal for you. in fact HSAs will likely help you attract healthier employees because they will be more likely to opt in and work for you.
And, of course, with a high deductible plan you can go to any doctor you want. Anyone.
Spending your money
If you are like me, you don’t have a lot of medical expenses. But when you do, you want a convenient way to spend the money. I've found the easier way is to get an HSA with a debit card (most of them have one). This makes everything really easy. Charge your doctor, dentist, optometrist, etc. even a lot of things you buy at the pharmacy are HSA-related. In fact, if you use an online pharmacy (like Drugstore.com) they'll ask for two credit cards -- your HSA-related items will get charged to your tax free account and your other items will get charged to your normal card.
And you'd be surprised what is covered ...
HSAs are best for start-ups
I've found that most people in Silicon Valley
Full covering health insurance plans discriminate against your healthy employees in favor of your unhealthy ones. For your avg 30-something in California
And the HSA is a great benefit. Like a 401K, it follows the individual for the rest of her life -- so she gets to keep the benefit now.
Overall, if you are getting your own health insurance plan or getting one for your company, I highly recommend a HSA. I think you'll find that it is a strong option worth considering
The Art of Deception by Kevin Mitcick
This is a fun book. We read a lot about computer hackers ... This book instead focuses on social hackers -- people who can talk their way past security ... Con artists. Reading this book is a good way to protect yourself and your organization from these cons. Of course, after reading it you realize how volunerable we really are. This book was referred to me by Justin Segal of Core Group Properties. Thanks Justin!
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