And now you know the rest of the story.

For reference on the title :: https://en.wikipedia.org/wiki/The_Rest_of_the_Story

So everyone is aware that I am at Jungle Ventures but as of today I can now give you the rest of the story.

Some PR should hit the wire later but in the meantime – our new site is live.

http://www.seedplus.com

The journey starts today.

Updated :: More questions than answers on the facebook/liverail acquisition

Now we have Facebook actually shutting LiveRail down. This is what I ultimately expected would happen. Tough industry…

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So what I originally feared has happened :: http://techcrunch.com/2016/01/07/facebook-liverail-ad-serving/

Quite a blow to some folks…

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Been waiting to see if there was any proper analysis written dissecting the Facebook acquisition of liverail – so far I haven’t seen much.

There is some good notes over at statechery – http://stratechery.com/2014/daily-update-microsoft-phone-wearables-office-facebook-acquires-liverail-google-right-censor/. But I think this is for subscribers only:

Small excerpt:

This is another very smart and rather obvious acquisition for Facebook: they have the best user data, while video ads are the fastest-growing and most lucrative (on a per-ad basis) digital ad units. LiveRail ties the two together in a very nice, and almost certainly a very profitable bow.

I subscribe to the daily update and the comments part of stratechery – https://stratechery.com/membership/. I don’t comment much but I read all the updates and enjoy them.

So far the general digest of the deal is video is booming and video ads will boom and therefor Facebook should get in on the action. Rumor has it that a huge amount of youtube referral traffic is from Facebook but that Facebook doesn’t capitalize on it well. I am not sure this helps that issue much unless Facebook intends to build a proper video product and keep that action in the stream. If that were the plan then Facebook needs video advertising kit and liverail would obviously be a great fit.

What I am not seeing many people talk about is what happens to the customer centric side of or the b2b/b2b2c side of the liverail business under Facebook? I have no previous experience of integrating a product that one uses to build a consumer product that then is acquired by Facebook. We are not talking about things like Instagram but what liverail is for most people is something they don’t see. Consumer facing products like Spuul, for example, use liverail to power our video advertising. Something that really has nothing to do with Facebook or their goals. So I am curious to see what will eventually happen here. One thought is liverail gets better and due to the money, vision of Facebook they turn the platform into a full-scale offering to compete with google in the video ad space(doubleclick/adx). This would be the vision of Facebook starting to rival google in all things advertising and is not anchored to the Facebook product. Sure maybe user data and such helps here but the idea is I don’t need Facebook when I use liverail but that the product gets better at targeting/profile when Facebook is integrated. This might be cool.

The other idea, not the one I am hoping for, is that liverail starts to inwardly focus on being a tool for Facebook advertisers and becomes less and less the ecosystem play to rival google. I think one has to watch the technology or product direction some to see what happens. For example liverail missed the instream video ad play and is now playing catch up. Google acquired a company to solve this problem cause google is in it to win it. Liverail might also be able to win it with the Facebook backing.

A lot of companies also use liverail to build their own SSP’s in certain regions since this is a niche play but most folks don’t want to recreate the core ad plumbing. Time will tell if Facebook continues to support this use case of liverail.

For now I don’t know how to read the tea leafs here. Liverail must have wanted the exit versus going public. Good for them but now we are down one piece of independent plumbing used to make video ecosystems. This could be bad or possibly under the Facebook umbrella it actually gets more powerful.

Watching and waiting…

Out of the armchair and onto the field…

Karma.

Karma (Sanskrit: कर्म; IPA: [ˈkərmə] ( listen); Pali: kamma) means action, work or deed; it also refers to the spiritual principle of cause and effect where intent and actions of an individual (cause) influence the future of that individual (effect).

When I was younger I should have thought about this more but fortunately I hit a point in my life where I started to grasp cause and effect. I wish I hit this self realisation sooner – but no such luck.

The basic principle for me is that you will do good and bad things in your life and those actions will someday come back to you. Its a simple concept and if you grasp it then the meaning is also simple – do as much good as possible. Empathize. Be nice.

I can recall in my early career not always being nice. I wish I could take those moments back. I can also recall lots of good interactions that years later came back to me in good ways.

I always remind people that everything is about people. Everything. Be good to people and they, plus the earth, will be good to you.

I feel like my career is finally where I want it to be. Yes – I am 44 and some people reach their career goals earlier. Some later but I had ideas of where I wanted to be and I think I have finally found the sweet spot. My nirvana. I owe a lot of it to karma. And sheer luck.

Let me touch base on this luck thing since many times you read about or meet successful people and never hear them talk about luck. I am sure you have also met or read about people who are not so successful. Guess what? It might be that only luck is the dividing line between success and not having success.

I try to think that karma helps to increase my chances of getting lucky.

I feel lucky.

My first gig was a dishwasher at the local restaurant where I grew up in Alta, CA. The job sucked but I got a free meal, got paid and I could ride my bicycle or walk to work. I learned a lot.

After that I worked with my parents at a camp ground they managed – cooking, cleaning, helping with events and doing whatever was needed. It was fun. Learned more.

During one of the summers in my teenage years I worked cooking breakfast for male and female prisoners who were fighting California’s largest forest fires at the time. I cracked a lot of eggs. Fried a ton of bacon. I served the food behind bars. I was freaked out. I learned things.

As I was closing out my home school final years, I started working as a dishwasher at Dingus McGees. Used to be a famous steak joint in Colfax that folks heading up to Tahoe to ski would stop at to chow down. After a few years there I was a prep cook and working the line. Ever read Kitchen Confidential? Yeah – that world is true. That was my school of hard knocks. After that I wanted out of the kitchen forever.

After the kitchen I went semi-corporate. I started working at a small regional bank in the warehouse and drove around to the branches delivering stuff and helping the maintenance guy. In between doing grunt work I would hang with the IT guys learing foxPro and Clipper. This gig mostly got me through my A.A. degree in Computer Science.

With the banking career over I went for a help desk job at State Net, at the time the leading provider of legislative data for all 50 states in America. I answered the phones and email, helping customers reset their modems and debug their SQL queries. During my shifts I started coding more and was given random Perl and Ansi C work. This grew into being a full time dev doing everything from Visual Basic to Emacs to C. I learned a ton. I also discovered I loved computers but sucked at coding. Sucked. They used to keep coding samples around to showcase horrible work – it was my code.

I went to the Sun Microsystems Java Day and from that moment on I wanted to code Java – so I left State Net and went to work at a marketing agency as their first coder. I made websites and applets. It was fun. I learned a lot about marketing.

I got bored and decided to take another job that required me to be the resident Java expert at company using data to help large corporations lower their legal bills. Of course since I ran the Sacramento Java Users Group – I was the Java expert. 😉 The good part was I was able to hire people who could code and away we went. That gig lead to me speaking to a VC about a round in WebLogic, who was raising at the time, and then that got me an interview, full days worth, which landed me a job as a Sales Engineer. I covered half the globe. I didn’t need to code anymore. Just pretend I could and talk about tech and – sell. I am a firm believer in the Mark Suster view of the world that everyone should carry a bag once in their corporate life. Why – you learn about convincing someone to part with their money in exchange for a service or product. Training ground for any entrepreneur.

My WebLogic run was the best startup experience of my life. Bar none. 

I should have never have left WebLogic but I got cocky and thought I could go play startup CTO at a place called MetaMarkets. Helped the founders to burn through 17 mil USD in capital building product, data center and a customer base. Dot com crash hit and I was out. But I got an Aeron chair out of it.

Fortunately BEA, the company who bought WebLogic, took me back. Offered to move me to London or Hong Kong. Of course Asia is where it is at and boom. My 1 year assignment turned into 4.5 years in Hong Kong with some months spent in China. I didn’t want to stay in China so I bailed on the job and moved to Bangkok.

I think my Bangkok years were my mid life crisis in my 30’s. I went into the F&B business. Was terrible at it but again I learned a ton. People management, crisis management, dealing with the mafia and all the nutty stuff that comes with doing a nightlife business in a crazy city. Fortunately, I survived it.

This is where I cashed in some Karma points. I was lucky to get called by a recruiter who knew me about a Yahoo role and then I called ex WebLogic people who were working at Yahoo to help get me over the hump. Within weeks I went from the unemployment line to a great gig.

At Yahoo I met one of the founders at Spuul who offered me a great, flexible role working on video. I learned a ton there and met some great people. That experience lead me to HOOQ which again, might not have been the best spot for me, but I learned a ton about management and big company politics. Which is certainly very valuable.

Then over a lunch one day I was talking with David Gowdey, who I did the Koprol deal with at Yahoo, about Jungle and suddenly I was interviewing again. Did I think I would become a VC? Not really but I did get a taste of things while I was advising for Hian GoH and his crew at NSI which made me think that I might like to be an investor versus being a product guy.

So life is one strange trip. I am lucky to be here. I am thankful to everyone who helped get me here. I am back to learning and I hope to make my mark in this space. Stay tuned for more.

Long read. I know.

Apple and auth

I wrote this yesterday and realized I left something out.

In trying out that stupid taxi app that only offered a botched Facebook login or 7 fields, I was reminded of why didn’t Apple do something about auth for apps? The iTunes ID has to be used by anyone getting an app and it would seem to me if Apple got behind something simple for iOS apps that is tied to the iTunes ID – it would simplify things a bit.

Furthermore it is time to Apple to combine this with dropping the commission from 30% to 20% to fuel more use of payments. They make enough money – they don’t need to make it on the backs of this charge.

Last post from Samui. Back home and on to the next thing.

Fixing Samui – life as a product guy…

Closing out my holiday. Bummed but also miss my kids, but my wife is back and I am ready for my new journey.

I realize that in many ways I am my father. My dad is a mechanic – he fixes cars, build houses and generally tinkers. I wish I was half the man he was when it comes to fixing things. His ability to diagnose a problem and solve it never ceases to amaze me. He helped me build my first car as a way to teach me self reliance and to have my own wheels. 

Loved that ride.

Anytime I am on holiday, I never really shut down, I am constantly thinking about how to make my life better – how to be happier. How to enjoy myself more. Problem is that I can’t control my surroundings.

After my wife finished her Yoga School, we decided to spend a few nights in Koh Samui chilling out before heading home. I found a nice rate on Agoda for The Kala Samui. It’s always hard to pick a place but I like to stay away from the riff-raff and enjoy a bout of good service. The Kala looked like it might work for that.

The main problem I have with the Kala has nothing to do with the the Kala apart from breakfast. I never understand why these places always think everyone wants a breakfast buffett that costs an arm and a leg. We don’t. I would rather be able to order some eggs, some toast and a decent filter coffee. That would be awesome. But no, The Kala only offers a buffet. No thanks.

The other issue is the ridiculous transportation situation on the island. It sucks. Taxis that essentially charge form 300-600 baht to go anywhere. The songthaews are not any better – tryin to charge the same for sitting in the back of a bouncy vehicle pretending that the mere act of offering you a ride at exorbitant rates is costing them the school fees for their kids. So much angst.

It reminds me of Kuala Lumpur, prior to Uber, where getting around town just sucked. The last few trips to KL were awesome though. I never dealt with a taxi driver one time. Not once. Uber was there for me. Say what you will about Uber but taxis in KL suck. They are the worst.

Taxis in Samui are just as bad. Ruining your stay by never offering to us the meter and walking away when you do ask. Many folks might say just rent a motorcycle but as an experienced motorcycle rider we all know that going down is going down. When you wake up in the hospital trying to remember how you got there you won’t be concerned about how you went down or that it wasn’t your fault. You will just be worried about your busted leg or your missing skin. Renting a motorcycle is not a option for me in accident prone Thailand.

Samui would be just perfect with Uber.

I perked up a little when I say some signs for NaviGo Samui. Downloaded it and after the Facebook connect login failed I have given up since it presented me with like 7 fields to fill in. Let’s be honest. It only needs about two so after Facebook connect failed I bailed. So much for that.

Folks – if you want people to use your app during an impulse, for fuck’s sake make the login easy. 

Back to enjoying Samui. There were are at 8pm trying to get to our hotel. Starting from 500 baht and working our way down to 300. Kind of puts a damper on the holiday.

Anyways. Fuck taxis. Roll on Uber.

Yes, I know this is SEA and we have Grab but frankly their support sucks. Still does.

Maybe I can influence Linda to fix it.
 

Throwing Rocks at the Google Bus

Finished the book off – Amazon link here

Tough one to write a review off or at least a short one. 

Before I try to post some thoughts on it – I will share this link from the buffet event since it fits a bit with the book:

“There’s been far, far, far more money made by people in Wall Street through salesmanship abilities than through investment abilities,” Buffett said, citing a simple Vanguard Group index fund that tracks the S&P 500 index of large American companies. He said that fund has beat a group of costlier hedge funds over time.

That quote fits well with one of the key premises of the book. Lots of folks making money on little more than trading but not really increasing the value of anything or making a difference in the world.

The root thesis of the book is that modern capitalism, technology, and the monetary systems are mostly making the rich, richer and creating platforms that tend to foster a winner take most or all strategy. That Uber, for example, is worse that say a taxi system. Or that Amazon and Walmart tend to ruin local markets and that the peer to peer notion of ecommerce is nothing more that a centralized system with Amazon making most of the money.

This is the first book I have read by Rushkoff and I will give him props for his thinking and his ability to craft a book of such notions but I also think like anyone trying to make a dramatic point he is also being a little over dramatic. When I talk to most Uber drivers in Singapore I find part time students paying for school, property agents using a rental car to make money while having a vehicle to take prospective buyers and tenants around, or I have seen people just driving enough Uber to pay for the monthly rental on the car so they have a car. None of it seems as bad as Rushkoff explains and I for one enjoy the cheaper mode of transportation in Singapore. Of course Uber is controversial and I don’t agree with all of their tactics but I have enjoyed the ability to travel to almost any city and summon an Uber versus deal with the local taxis. Especially in places like SEA region where Uber has made places like Kuala Lumpur actually enjoyable to visit again.

80% of the book is questioning the current grow and get rich mantra as being more important than anything else. Unified prosperity, the environment, health and any sort of long term capital appreciation takes a back seat to getting rich. I can’t argue with this premise but I don’t think the author did much to answer how it might be fixed. One sees this grow at all costs mantra with the current quarter of Apple and their stock drop off when they announced the iPhone sales dipped. The growth cannot go on forever and even so the company is incredibly popular and making huge strides in many other product areas. The stock markets are not rationale and tend to favor trading versus investing. It is a troublesome trend but not sure it is a new problem or not.

Fixing the monetary system, using local currencies, barter systems, co-ops, non profit companies and even alternative means of financing were mentioned as solutions but at an individual level – these are not easy to act upon. They are no doubt valid ideas and something to ponder but not sure how I can act upon them. I am thinking about it though.

There is also a damning section on tech, venture capital and how it is contributing to the demise of general prosperity versus enabling world changing tech. I am not sure that I entirely agree with it but again I think in any situation there are examples of both sides of any extreme. As an apprentice VC I think a lot about how one balances the desire to fund companies that have a positive effect on the world versus just creating an exit. I am not saying I have any answers to this but I do think about it.

The world has monetary issues, human health problems and massive environmental damage – I am encouraged by the tech and venture capital industry as a means to have a positive effect on these global issues.

The book is also somewhat plagued by out of date examples, sidecar versus Uber. Sidecar is toast. Not sure if this supports his thesis or not. There were a few other examples of companies that are gone or where a company was used as an example I just don’t agree with. 

Regardless, I am happy I read the book. It has me thinking about these issues more. That was probably the author’s intention since there are no easy answers to the problems in the book but bringing them to the forefront as a global discussion is valuable.