Thursday, August 30, 2007

$1B Hulu hoops, mahalo !


hulu hoopz
Originally uploaded by benbarren
The $1b valued landing page* has a name that has made some ad agency folks alot of benjamins. Oh yeah, I almost forget the name is hulu. Deal Breaker help break the deal. hehe, breakn. hulu hoops, mahalo !

* Their alpha site, given it's worth $1BILLION, might have spent a bit more on the font/iconography/logo of the hulu name in grey font lowercase in middle box. it looks kinda plain. sort straight out of MS word. not really a billion bux.

DealBreaker : "It took the ad wizards five months to “capture” the spontaneity and child-friendly assonance of hip techie names like Lala, Tinkie-Winkie, Joost, Wii, WiiWii, Yahoo, Belo, PooPoo, Lyondell Chemical Company and Fuchs Petrolub AG*."

"Three years, 25 deals + 5 successful M&A exits later (Truveo/AOL, Userplane/AOL, MyBlogLog/Yahoo, Kaboodle/Hearst, Maya's Mom/J&J's BabyCenter)"


$10.5m Blackberry8830
Originally uploaded by benbarren
Jeff Clavier, an investor in Nick Cubrilovic's Woolongong/Atherton based Omnidrive, among many others, is doing vnicely : 5 exits out of 25 investments, within 3 years. From his blog : "..about 3 years ago (and a few months), I decided to start this firm and invest my time and our family's money into early stage startups, more precisely consumer internet startups located in Silicon Valley. Web 2.0 did not exist per se then, nor was it as obvious as today that there was a tremendous opportunity to help launch capital efficient consumer services that would leverage a more mature Internet, one that was widely available, and where monetization opportunities were real (at least in my mind). Three years, 25 deals and 5 successful M&A exits later (Truveo/AOL, Userplane/AOL, MyBlogLog/Yahoo, Kaboodle/Hearst, Maya's Mom/J&J's BabyCenter), I am still very bullish about the myriad of early stage investment opportunities that are in front of us."

Wednesday, August 29, 2007

Product Development is What You Say No To.


ordering some
Originally uploaded by benbarren
I had a first year postgrad professor that started his class with a full glass of water. He said most of our lives are a full glass, and if that glass is made up of people, sometimes you need to get rid of some of the people in the glass, in order to be able to fill it up with those we need. While this more than 140 characters but not yet a post, isn't about people, product development faces a similar issue. In the honeymoon pre-launch stage of building a website the glass gets filled up with a multitude of great ideas. It's as if more ideas will create more chance of success. Usually it's the opposite.

As your project moves into the technical build stage, either the water is poured out and features cut (often the wrong ones) or the time to launch or resources expended is blown out, leading to a delayed, over budget bloated product, which is not compelling to end users. So the key is to bet on the single application and related supporting features you think find the product a home with consumers. Everyone will nod their head and say "Yes", but it's alot harder to do in practice with multiple decision makers on a team.

There is lots of discussion around this area about whether you should be building a product, a feature or a business. Evan William's launched blogger as a side project of pyra labs and then twitter as an adjunct to odeo. Being able to mine what made the side projects not the main event the successes, is certainly the subject of future Master Classes. My summary is Product Development is what You Say No To Kids.

Digg Blog : "We’ve gotten a lot of feedback that the videos are entertaining but people miss them because they’re isolated. Bringing them back into the stream on the homepage will hopefully bring more life to videos on the site. If you prefer just news or only videos, you can easily customize your view by setting either as your default home page (login and choose ‘Customize’). To give the page a cleaner look and make it more functional, we’ve also tweaked the page and story summary layouts, streamlined the navigation, and provided more customization options. And with a new one-click bury, you no longer are required to choose a reason when you bury a story — this aims to help us get more feedback from people about what they don’t like (by making it easier to bury) so we can make more accurate determinations about unpopular content."

Sunday, August 26, 2007

Fairfax's Sold 2.0 ?

For you Aussies but insert any newspaper really (it's a universal story this how do u 'stop the consumer + advertiser churn') : If you happen to read The Age/SMH - I'll check Thursday's Green Guide (for newly redesigned/url MsFits and Computer/Connect section), then on weekend I'll buy all papers (yearning for a decade ago pre internet info overload) but now I dont often get past Saturday Business, Sports and the Sunday magazine liftouts (read later during week)

So if you have pickedup The Age/SMH recently, you will have seen promotion of their new Bid2Buy auction site. Kinda gave me a flashback to their Sold.com.au site, which was sold to Yahoo for $24M in 2001. Here is a little cross media pictorial essay.

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1. bid2buy Paper Section Liftout : "Start Bidding Now"
  • Specific items such as watches are promoted, but no specific directions given to find them online, there is a product number - but not noobie instructions on what that item# means.
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2. Type-in theage.com.au/bid2buy get redirected to : http://www2.xpresssites.com/fairfax/melbourne/aug07/def.jsp
  • There appear to be 337 items for sale, so pretty basic. Not sure how big this is meant to get. Hey an alternative to EBay Australia would be great, that cracked down on fake goods too : and also cultivated product communities too would be good:)
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  • I've seen the watches in the paper, didn't note down their "item number" and now I'm trying to figure out which category they are in. I guess Clothing + Accessories, correctly.
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  • The layout at the actual item level reminds me of Greys Auctions Online. The $4.5k watch has a $270 bid.. wonder if there is a reserve etc
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I'm glad at any new product development in Australia, online, esp when it comes to newspaper's leveraging their audience and esp advertiser's online. But like tradingpost has learnt, and fairfax did with sold, ebay is a powerhouse. Hopefully F2.0 can create an alternative local marketplace. It's also a few generations away from the social shopping scene in the US as pioneered by the recently Hearst publisher acquired Kaboodle.com. It would be good to see some kaboodle inspired options downunder...

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Our readers will be able to find the products featured in our magazines, shop electronically with their friends and get their feedback,” says Cathleen P. Black, president of Hearst Magazines. “It’s another means for making sure our readers stay engaged in today’s saturated media landscape.”

Saturday, August 25, 2007

"Users want bells and whistles. Black and white is boring. Straight lines are boring. Two dimensional is boring."


afternoon walk
Originally uploaded by benbarren
Facebook API marketing application development is quite different, totally actually, to generic web site product development; It's gotta be fun, avataresque, friends network give and take centric. The JSquared guys and their StickyNotes app (over 1m users in a couple months), and Techstars themselves, have this nailed.

Inside Facebook : "46 applications have garnered over 1 million net installations. Around 100 more have garnered over 100,000 users. Top Friends, the #1 Facebook app, has over 13 million users. Facebook is the most viral software distribution platform ever."

Typical Founder Week.


7am tuesday
Originally uploaded by benbarren
In no order.
- Contractor Agreement Updates X 2
- Outstanding Invoices to be Paid X 5
- Client Meetings X 3
- Investor Meeting X 1
- Coordinate Payments Received X 3
- Editorial Piece for MSM X 3500 words
- Offshore Developer Conf Calls X 2
- Front End Producer Meetings X 2
- Web Designer Shortlist X 6 hours
- Software Vendor Shortlist X 1
- Facebook API Concepts.ppt X 1
- New Hire MeetnGreets X 1
- 18 holes + 5 runs.

Marathon vs Sprint.


monterey scene
Originally uploaded by benbarren
X: "I'm just so pumped, I want to get this thing out in the market."
Y: "Just remember, it's a marathon, not a sprint. I felt exactly like you 2 years ago, but now it's all about focus, measure, persistence, execution."
X: "I know, I know. But the marathon only starts once you launch."

It's an interesting divide. And I'm certainly in the marathon camp vs the sprint camp I would have been 2 years ago. Also, the need to do (less) things much better in a unique (DNA-esque buzzword) way - I also totally believe in even more; This is the opposite of product development in major media/online/portal companies which emphasise all in one toolsets that are meant to "appeal to" mainstream users, but often end up satisfying no real use case.

I have a much more detailed post on this coming, but being in a reflective Saturday 20C degree mood, Im gonna check the local Edy/Aspy footy before I layout my ingredients and recipes.

Saturday, August 18, 2007

Update : Me, myself oh my, stupid lovely blog, shit 'stuff' blogger : Nice post, ok yeah ?


bang bang
Originally uploaded by benbarren
Update : Me, myself oh my, stupid lovely blog, shit 'stuff' blogger : Nice post, ok yeah ?*

* These are the 15 Most Frequently Blogged Words (order mine) according to Oxford University Press (via Bloggers Blog) See if you can use the 15 words and no others in a different order:)

Tuesday, August 14, 2007

Will you give me 10 Times Revenue on a Website I Don't Own ?


nippy alba
Originally uploaded by benbarren
Obviously in the so Glam I'm raising $200m vs the millionesque Comscore panel definitions of what should be counted in the unique user definition of a site/url/group of properties, are the resultant issues of what the blended revenue multiple should be on that network.

Unless you have a compelling monetisation engine that brings publishers and advertisers back to the projects ala The Wire style, a site you don't own has a multiple far lower. Unless the network owner has crafted an amazing Site Representation Agreement which has :

- A long term contract (eg 12 months vs 5-20yrs:in_perpetuity)
- No/narrow termination (without breach) clauses by the site being represented eg if MyYearBook.com wanted to sell their own ads (eg when techcrunch sell their own ads vs federated media doing so / myspace vs google, facebook vs microsoft etc)
- Exclusivity in a representation deal across revenue products (display vs text vs sponsorship plus other revenue) Which site owner wants to give away too much exclusivity without a huge revenue guarantee : which i wouldnt assume Glam is doing to a MSFT/GOOG level.
- Tough penalties if site owner leaves network etc - this is a classic power relationship vs what the contract says one.
- Assignment rights if ad network is sold etc

Just as one day the big, once were small sites, will be able to afford their own sales team, or find another solution : most ad sales representation contracts won't be able to handle a YouTube vs Right owners esque legal battle. If you want to get somewhere else in reality, you can. Hence why the multiple on a site you own the rights to vs one you represent is always a 5-10x+ multiple higher.

Maybe you raise $200m so you can buy the sites in your network that are delivering the traffic ? Ironically, those "networks" that can deliver monetisation technically are in a strong place as horizontal sites are always looking to raise their yields thru better targeting, auctions, ad technologies etc. Hence Tacoda, Double Clicks, Real Name sales.

LightSpeed Venture Partners
: "Whether ad networks or acquisitions, Comscore’s “media property” reporting often includes a lot more than the namesake URL in the rollup. While this can come as a surprise to the unwary, it is no surprise to the people that matter - the people who are buying online advertising."

Saturday, August 11, 2007

Imac Inspired by Audi Windscreen ?


aussie fastback
Originally uploaded by benbarren
So the order for the 24" iMac is officially in (thx corleone who's swanning it up in italy for a wedding), my only worry (being an online order from getmac - $200 cheaper than apple.com or streetwise) is any delay on the wireless keyboard I specified. Kinger and some of the Skitch crew have been touching the machine in the Apple retailers today so I'm hanging for that box to arrive. ConceptCar Blog is talking about the Audi* Windscreen being the inspiration for the black framing. Just goes to show that alot of creativity in design comes not from competitive products but other industries. Or not:)

ConceptCar
: "However, it wasn't the architectural similarities that grabbed our attention, rather it was the way the glass-plated LCD resembled an automotive windscreen. With the sheen of the aluminium case topped off with the chrome apple logo, we knew it looked a little like something else... an Audi! Possibly."


* Walking to the Aspendale footy today was a pretty good condition GTS Monaro (late 60's?) Not as good as the one a grandpa in Rye owns that has the black racestripes. Oh and the Dees won, so used to losing now its a strange feeling. Listening to Pharrell's phat The Beeper Record.

Wednesday, August 08, 2007

Apple + Their Kate Moss Thang.


tiny keyboard
Originally uploaded by benbarren
From the aptly titled Back in Skinny Jeans, on the iMac tagline which pundits are reading gender into : "The new iMac. You can't be too thin. Or too powerful." There is definitely a second year undergrad sociology thesis here.

Skinny Jeans : "I thought it was interesting that Apple would use a body image metaphor to describe their newest iMac design. To continue the metaphor, could the iMac be suffering from the same societal pressures to be thin as us women? Is there such a thing as computerexia-nervosa? If the iMac, the most fashionable desktop computer around isn't thin enough, does that mean it isn't good enough or lovable enough for us consumers? Let's see."

I also liked the Signal:Noise blog on the iMac, which while an obvious point to make, is one we were nattering about beforehand (and the argument applies in reverse too : currently the ipod UI looks so out of date because of the iphone, and even Jobs today said a "touch-screen" Mac was an active "research project" already) : "The old iMac basically looked like a huge iPod and the new iMac looks like an iPhone. I love watching them iterate and evolve. Each product playing off the next. Each new material finding its way into new products. This is design at its best."

The Non-Fake Forbes.com May Buy the Really Useful Clipmarks.com


kinda iphone
Originally uploaded by benbarren
It's one of those weeks where you can't avoid Forbes, not on the main stage with Real Steve, but in the River of Rep News with Fake Steve, and now with their possible purchase of the kewl Clipmarks service - which alot of people like bigyahu use to "clip" extracts of what you link to on your blog (vs the cutnpaste job I do below) via VentureBeat : "Founded by a lawyer disgruntled with pasting citations from articles into an ever-growing Microsoft Word document, Clipmarks’ features go a step further than established bookmarking services such as Delicious."

Update : It must be the day of purchases of 2nd generation vertical bookmarking sites by traditional publishers. Heart Magazines buys Kaboodle, via Mashable. "Hearst wants to build pages within Kaboodle featuring products from women’s magazines like Cosmopolitan and Good Housekeeping, and also build the site into more of a lifestyle portal. No doubt other social shopping and bookmarking sites will now become acquisition targets as media companies try to get in on the web clipping trend."

Tuesday, August 07, 2007

How to get Your Big Idea into Build.


rose gold
Originally uploaded by benbarren
So Nick Starr is alive, and my Apple iMac, much more important to me than the iPhone (and so it ultimately will be for The Street) is coming out in 14 hours-ish, I'll be pre-ordering the 24" baby the moment it's on streetwise.com.au or whatever other site delivers with wifi superslim keyboard and power/memory boost. Let's hope it's not like the meant to be coupled Tarantino/Rodriguez' Grindhouse flicks which still havent been shown downunder, and now they are talking November and prob separate releases like the UK.

So this isn't about the iMac or Grindhouse, but it is about moving from the idea to build stage of Product Development : Given I'm stuck deep in specs, project plans/wikis and contracts - I thought I'd share. Call it therapy. While in a corporate gig you need to be able to do a few things well at select times, make sure your boss likes you, as well as working for the right company in a good industry) : With a few wins, you can get headhunted and more money; In a startup you gotta do all of it well, there isn't "the IT department", "marketing", and "legal". You see alot of people leave corporate gigs, flirt with a startup business for 12-18 months, and then back to corporate land (who like the startup on the resume as it's character building) But if you want to win, thrive, sustain. It's alot harder. But here's my 2 cents.

The agile inspired BulletPoint process I'm liking, thru trial and error, and working with a range of 'collaborators' on is :

1. A Really Fn Kewl Idea, that has a real purpose. Something you or someone u can objectively empathise with, would actually use the service, for a purpose. It all starts with a great idea (my business school preferred the language : "a financially quantifiable opportunity") Extra marks for non-consumer and enterprise.

2. The Backer of Said Idea, who has a pile of benjamins (as few as the Paul Graham 6 gorillas per founder approach) or the $6b Microsoft is lumping down for digital marketing biz's. The Backer says "Yes I want to invest in you. Your Team. The Idea. I love it." They call you up and email at weird times. And you like it. N'Him'n'Her. Especially at the start it's all blue skys : "Look how crap the competition is.. We could do this so much better etc" Nod. But set realistic expectations. No one wants to hear how your last divorce was so succesful.

3. Friendraising the Best People Out There - Your generalist specialist friends/linkedin/geek-forum associates that say no to jobs all the time to concentrate on optimising their ad sense/weird photo application and get by on $2k daily rate call-ins from corporates who need critical fixes that can be done remotely. They hear your idea and say "That is the best fkn idea I've heard in along time, in fact I had the same idea a few years ago, and have always wanted to do it." - If they don't say this, maybe there's a reason.

4. Now You Find a Really Big Monitor - You mainline every single website in the space, find the leader and join - both as a end using consumer and paying customer (eg advertiser, subscriber) and start delving into every single feature they do well. Screengrab key UI pics like FactoryJoe, and delicious links key research. Delve into open source projects that touch the field. And very importantly look at parallel industries and how it could be applied to your space. There are lots of lesson from the Last.fm's and Wesabes that can be applied elsewhere. Not just music and finance.

5. You get your legals and commercials Sorted - Dont get too excited or too cheap that you avoid paying usually 4 figure legal fees to document everyone's role in this world changing idea. This document may well become your best friend, or in lieu of its existence your worse. And get signatures on it. Dot and cross.

6. Dont Write a PHd now - Many non-engineers think it prudent at this point to write 100 page functional specs to append to that shining business plan/IM. And lots of digital marketing companies like to sell them. Why not start at the end first and (like I do) design a really bad powerpoint/skitch/photoshop page, and show the person you trust the most. Ideally a front end/UI/producer type who will take your stick figure, bad cutnpaste job and challenge you on what each link does and then after discussion, mockup a schweet photoshop design of the actual page.

7. Prototype the Top Level Pages - Spend far too long on the home page, get multiple designers to pitch and do paid work on the home page. Obsess about it. Until you go crazy, take 20% out, sleep on it and if you are happy with it when you wake up go with it. It's months till you launch anyway, so you can iterate, but sometimes the first design is the best. From home page, you know in order what the 5 major next clicks are. Some call this the Consumer Experience. But it can also be the Advertiser Experience. Powerpoint-Photoshop. You almost have a demo of 5-10 pages that is enough to convince the next level of institutional support you need. (investors, strategic partners, your wife/husband) Heck CSS some pages up, make this baby sing, dance and get some more money.

8. People Dont Know what they want, but they know which pictures they dont like on a web page - Go back to your Backer, the great team of people you recruited/contracted/email-skyped (incl the ones you really wanted who said no to start of with because they were busy) and say "Hey check this out." Wait for silence, awkward body language "It's good but...." - Don't appear to write too much down here, smile, nod, be constructive - But file away all the responses, and determine which are substantial/real/show insight and which are chasing dragons, one-off opinions you can ignore. The real insights will stay with you and stop you sleeping till you fix them.

9. Identify the Technical Storyboards and User "Use" Cases - It can be a bit painful but identify each major act each user of the site/system/product can do. Knock them onto a wiki so they can be evolved, till they are all captured concise. You also need them later for your developer brief. Because obviously you've got your fulltime dedicated engineering team of 1-5 geeks, somewhere in the world, who are going to require basic requirements, designs, wikis, timelines, deliverables etc

10. Now Speak to End Users + Experts - Speak to end users of existing substitute services currently (dont tell me there arent any or your business sux) and find out where they spend their money and where the pain is. Also speak to experts in each particular field that is specific to this industry/type of application. Merging this focus group vox pop like data with experts is key to learning. Being able to find the artists + boffins in this area is so important in moving from 7/10 to 9/10. And is esp hard downunder or if u r somewhere regional. It's not like everyone has worked on a Open Social Networking RSS Real Time Widget Analytics technology startup before outside Mountain View. Hence Skype, Blogs etc. And conversely its not like they're all in the land of SoCal and available. Look at Estonia, Moscow, Pune - who knows where the expert you need is.

OK I've reached 10 points, I'll stop there, I guess after that you build stuff and you become very successful.

Friday, August 03, 2007

MODM4 - A Better Bloody Kilo of Fennel You Won't Find!


MODM3 geeks
Originally uploaded by benbarren
It was a 2 hour journey home punctuated by @bytebot twittering a delay at Parliament Train station where 3 hoons who were throwing rubbish at a train that led to police arrests. Which messed up all the other trains going thru The Loop.

" Train detained at Parliament. 3 drunk nuts hassling young girls, throwing rubbish at passengers, waving a stick too."

So I me myself, 2 steps behind at Melbourne Central no souvlaki in hand (train had stopped) jumped out and showed the train driver my m.twitter screen and bytebot's post about what had happened at Parliament, to which he seemed quite interested. But that was the end of the night, a 2 hour train ride home, that I probably would have played slightly differently if I had known what was ahead of me. Sometimes when u try and simplify, you complexify.

"The police have arrived. They've caught one bloke (face down on the floor, handcuffed). Seems they're missing the third one, 2 are sorted "

But I will spin the wheel back a bit to modm4 and its new flush brick dungeon which songcarver likes in a beautiful setting on a mild spring night on the Yarra River, overlooking boat clubs, Yarra River, MCG down the road, Fed Square and the Arts Centre.

First, and I'm not sure why I didn't take a picture but the chef was getting rid of 3 months of fennel, and there was close to a kilo of of the light green "is it onion?" stuff. Which had been dumped obvs as a ezard-esque conversation piece next to your standard anti-pasto offcuts. It did however help pad talking to perfectly nice online media ad sales reps - "I found out about this event (english accent n'all) on facebook." Seems going last.fm is all the trend these days.

"She's american, from accent. A bit scared, short skirt. Pity her, as she was one of the harassed. Statement via phone i guess?"

Early on in the piece I believe there were some speakers talking about technology, search engines, and other rah rah. The real action was elsewhere though, and while our West Coast Cousins may be shimmering in a web2 bubble deflation, here it's just beginning to nicely inflate. It's not about technology, financing or even echo-chamber, this circle is beginning to grow up and mergers b/w parties are starting to happen. Mini Rupert WSJ trumours right from Fed Square's little Yarra laneway.

Gender was a large talking point of the night. As was intergendered on a disabled tip. Keeping up with who was who, who knew who, and what was happening to who, where, was fn hard. Do u know her from facebook, or is he a twitter friend, and I cant believe that she was doing that with him, but did you hear about that new Divshare video branded player, or the Bopeo upload your own photo debit card from a startup in Sydney ?

"We're departing, sans a few witnesses. They're apparently staying back at parliament. Well, one girl has come back on"

Then I left my bag of digital and offline goodies at the event, after I'd noted the exact times of trains leaving, so having to return and then retreat to Flinders St Station, I missed the train by 2 minutes, there wasnt another for 30 minutes, it was then delayed midstream for 15mins while people throwed rubbish at another train, and as it was stopping all stations via loop, instead of getting home at 4pm as planned, and going for a run, it was 2am. But I already told u all that so Im repeating.

"Apparently this started at flinders. American girl was harassed at the station too. She's been here for 1.5 years, first such encounter"

Hollywood is a fan of the Die Hard 4 (with the Mac guy quadrella) not for the artistic quality but because of the easy low risk box office mid range success. A little ventured, a moderate amount gained. That's Modm4. And with cold asahi and a kilo of fennel, even Tony Montana would have been happy at this event. As they disappeared into the night.

But did Bytebot aka Colin Charles aka the MySql Community guy downunder, get the grrl ? : "Sorry for the lack of updates... Ended up chatting, in real life. Girls got a bit more of a journey, and she's called a cab...."