Somehow*, I came across Paul Lee’s post on high valuations, he’s a founding member and Senior Vice President at the Peacock Equity Fund, a joint venture between NBC Universal and GE Capital:
A high valuation is problematic for a number of reasons. The first, and probably most important, is the impact on the company’s ability to attract quality talent. That’s not to say that you couldn’t (I’m sure the aforementioned microblogging site is seeing a flood of resumes). However, most people in the startup world join startups for the equity upside in a liquidity event or IPO (although the garage sale furniture and stale pizza at 1 a.m. is tremendously appealing). When a highly priced round is completed, guess what–the strike price of the options also go up. In effect, the hurdle for the options to be “in the money” has gone up and the value of the options has decreased. The motivation for the employees coming in after the financing has been materially altered.
Another difficulty in raising a highly priced round is the set of expectations from the new investors. Given the high valuations, the milestones that you’d have to hit to justify the valuation are usually aggressive. The difficulty in setting such aggressive milestones is that if you only complete 50%, you’ve basically built a bridge to nowhere. When you next need to raise capital, you may be faced with a down round, or in extreme circumstances, a complete recap or non-funding. Lawsuits and tensions around the board about fiduciary responsibilities are common. Not very fun stuff.
It sort of reminds me of a quote from a low-profile entrepreneur named Bill Gates who started a software company in Seattle back in the day. He quit to run a non-profit to help end poverty:
One challenge Microsoft did face, and that Netscape now faces, is coping with a high market valuation. Netscape has little income, but investors have valued its stock at more than $2 billion. When a company’s shares have a high value, expectations from investors, including employee-owners, are correspondingly high. Failure to meet those expectations can be damaging. If you’re giving share options to employees so that they can participate financially in the expected success of a company, a high valuation hurts. If the market’s already anticipated the great work those people are going to do, then their stock options won’t appreciate much in value, if at all. This can make the options worthless. Many times in the past I have felt that Microsoft stock was higher in value than it should be. Subsequently I was proven, in a sense, to be wrong. Controlling expectations—whether about deliveries, product features or stock value—is often wise in a technology business. It’s a lot better to under-promise and over-deliver.
Read more about that here.
[* A lie. You will see why and how I was on Fast Company in a few days when I post the Fast Company article that mentions WatchMojo.]
InStyle.com shows us the latest trends for your nails in fall!
1- Moon Manicure
The original “moon manicure” first showed up on screen stars back in the ’20s. In graphic black-and-white, the two-tone paint job is bolder than ever.
2- Ombre Manicure
Subtle shade-shifting gives hands a cool and pretty effect. The best part? All you need are two shades to create your own custom ombre sensation.
3- Mixed Metals Manicure
A smattering of gold and silver over gunmetal is equal parts grit and glamour. And getting the look is much easier than you think—trust us!
What is wrong with MSFT?
Despite the fact that their sites (MSN.com and I guess MSNBC.com as well) garner the highest time spent on site of any company, they cannot convert those eyeballs and engagement into profits?
Then again, maybe it’s specifically the reason why their operations are burning so much money?
The best line about the whole Skype saga has been that “everyone who has ever done a deal with the Skype guys has walked away unhappy.” I think it came from Tech Crunch.
Now, Index Ventures and alleged slime ball Mike Volpi are out, and in their place comes the original dashing duo.
Read more. But I wonder, how long before Volpi leaves Index to “spend more time with his family?”
And seriously, what is wrong with a VC like Index to begin with?
Pretty amazing to see Michael Arrington evolve over the years. This past week he penned a post that basically took down a few questionable people and practices. Today we see this gem of a video:
Crazy to see what VCs back. No comment.
Originally formed in 1985 under the name Majesty, Dream Theater is a band known for the skill of its instrumentalists. What is unique about the band is that they use a rotational set list for their shows, meaning every show is different. It also means the band needs to know a huge catalog of music for every concert they perform. In this video, http://www.WatchMojo.com speaks with guitarist and founding member of the band, John Petrucci about the band’s most recent album, Black Clouds & Silver Linings, and we find out more about how Dream Theater’s song writing has evolved in their 25 years together.
For more information, click http://www.dreamtheater.net/
Bon Jovi will perform “We Weren’t Born To Follow” at an historic event commemorating the 20th anniversary of the fall of Berlin Wall on Monday, November 9th in Berlin, Germany for the “Fest der Freiheit,” a commemorative event taking place at Brandenburg Gate.
In front of an enormous crowd, heads of state and global figures including Angela Merkel, Gordon Brown, Hillary Clinton, Dimitri Medvedev, Nicolas Sarkozy, Hans Dietrich Genscher, Mikhail Gorbachev, Lech Walesa and Nelson Mandela, Bon Jovi will perform their latest single, “We Weren’t Born To Follow,” an anthemic celebration of independence, dedicated to those who fight for freedom in the face of adversity.
In 1983, when Bon Jovi was formed, the Berlin Wall was the ultimate symbol of a divided world. The ultimate fall of the “iron curtain” in 1989 affected Jon Bon Jovi deeply. He recalls an exchange at Checkpoint Charlie in 1986 with a border official who looked to be the same age, and not too different in many respects, from the singer himself. Three years later Jon chipped a piece of the Wall off and has kept it ever since.
“It’s a reminder that, while walls can separate us geographically, they can’t conceal the ways that we’re all human beings sharing similar dreams and desires,” he said.
See the “We Weren’t Born To Follow” video, featuring a salute to world leaders who have enacted change:
In this video http://www.WatchMojo.com gets to sit down to talk to one of the most respected horror movie directors of all time, George A Romero. Thanks to his 1968 cult classic Night of the Living Dead film, he is one of the top names in the modern horror movies.
According to the Discovery Channel:
Until this week, many veterinarians asserted that it was a myth that house cats could catch the deadly H1N1 flu from their owners.
Those veterinarians, along with other health experts, are revising their views after an Iowa Department of Public Health announcement Wednesday that the virus has been confirmed in an indoor 13-year-old cat, which likely contracted the illness from two flu-sick humans in its home.
Although all of the victims have since recovered, this latest H1N1 animal case puts the focus on humans as the primary carriers of the illness, which experts don’t even want to call “swine” flu anymore.
According to ESPN:
Hours after guiding the New York Yankees to a World Series championship, manager Joe Girardi stopped along a suburban parkway on his way home to help a woman whose car had crashed into a wall, The (Westchester) Journal News reported.
Early Thursday morning, Westchester County police officer Kathleen Cristiano congratulated Girardi on the World Series win as he passed through a drunken-driving enforcement checkpoint, according to the newspaper. Yankees left-hander Andy Pettitte, who had started in the Series clincher, had passed through the same checkpoint earlier, she said.
About 15 minutes later, Cristiano was among the first responders to a one-car accident on the Cross County Parkway in Eastchester. She was surprised to again see Girardi, this time trying to flag down assistance, according to the report.
Here’s the final out from the stands,
Although it seems like the Yankees win too many World Series titles the team actually hadn’t won in all since their string of 3 consecutive ending in 2000. 9 years is a long time for a team as stacked as the Yanks have been the last few years. I suppose its nice that ARod finally won a World Series… but I still think the guy is a douchebag! Read more about the victory from TSN.ca:
The New York Yankees bolted from the dugout even before the last grounder was scooped up. After waiting nine years for championship No. 27, no one would dare hold them back.
“It feels better than I remember it, man,” captain Derek Jeter said. “It’s been a long time.”
Hideki Matsui tied a World Series record with six RBIs, Andy Pettitte won on short rest and New York beat the Philadelphia Phillies 7-3 in Game 6 on Wednesday night, finally seizing that elusive title — the most in all of sports.
Nearly a decade after their dynasty ended on a blooper in the desert, the Yankees are baseball’s best again.
Matsui, the Series MVP, powered a quick rout of old foe Pedro Martinez. And when Mariano Rivera got the final out, it was ecstasy in the Bronx for George Steinbrenner’s go-for-broke bunch.
What a way for Alex Rodriguez and Co. to christen their US$1.5-billion ballpark: One season, one World Series crown — the team’s first since winning three straight from 1998-2000.
“The Yankees won. The world is right again,” team president Randy Levine said.
The season certainly ended a lot better than it started — with a steroids scandal involving A-Rod, followed by hip surgery that kept him out until May.
“My teammates, coaches and the organization stood by me and now we stand here as world champions,” said Rodriguez, who admitted using steroids from 2001-03 while with Texas. “We’re going to enjoy it, and we’re going to party!”
For Chase Utley and the Phillies, it was a frustrating end to another scintillating season. Philadelphia fell two wins short of becoming the first NL team to repeat as World Series champions since the 1975-76 Cincinnati Reds.
Utley tied Reggie Jackson’s record with five home runs in a Series. But Ryan Howard’s sixth-inning shot came too late to wipe away an untimely slump that included 13 strikeouts, also a Series mark.
Meanwhile, Phillies pitchers rarely managed to slow Matsui and the Yankees’ machine.
“I told them that I loved the way they played. We’re fighters and never quit,” Philadelphia manager Charlie Manuel said. “We want to keep what we got as far as attitude and chemistry.”
For second-year manager Joe Girardi, a three-time Yankees champion as a player, it was the fulfilment of a mission. When he succeeded Joe Torre in October 2007, Girardi chose uniform No. 27, putting his quest on his back for all to see. His tenure didn’t start out so well, with New York missing the playoffs in its final season at old Yankee Stadium following 13 consecutive appearances.
“To be able to deliver this to the Boss, the stadium that he created and the atmosphere he has created around here is very gratifying for all of us,” Girardi said.
In a fitting coincidence, this championship came eight years to the day that the Yankees lost Game 7 of the 2001 World Series in Arizona on Luis Gonzalez’s broken-bat single off Rivera.
Steinbrenner spent billions trying to win another Series. At long last, his team did.
Fittingly, it was dedicated to the 79-year-old owner, who has been in declining health and didn’t make the trip from his home in Tampa, Fla.
Still, his presence was felt.
“Boss, this is for you,” the giant video screen in centre field flashed during post-game ceremonies while his son, Hal, the team’s managing general partner, accepted the championship trophy.
For the Four Amigos, it was ring No. 5.
Jorge Posada, Jeter, Pettitte and Rivera came up together through the minors and were cornerstones for those four titles in five years starting in 1996.
Follow these 6 rules from Shape.com to make smarter choices when you indulge in candy, cookies, ice cream and fast food.
1. Control cravings
Complete deprivation is not the solution. A denied craving can quickly spiral out of control, leading to bingeing or overeating. If you’re craving fries or chips, for example, eat a small serving of fries, or buy the mini 150-calorie bag of chips and be done with it. Also to consider: a healthier alternative like chips made from blue corn.
2. Indulge sensibly
Splurging on occasion is acceptable — just don’t get carried away!
3. Avoid stocking treats in your cabinets or fridge
Buy something only when the craving hits and enjoy a small quantity. Then share or trash the rest.
4. Mix it up
Try eating something healthier thing along with the less-nutritious food, like a piece of fruit with your cheesecake. By eating the fruit first, you’ll dull your appetite and be less likely to wolf down a second slice of the cheesecake.
5. Count calories
Compare the amount of fat and calories found in healthy, filling snacks vs. less-healthful foods. For instance, a medium apple contains just 81 calories and no fat.
6. Focus on fat
Take extra care to read labels. After reviewing several types of packaged food, like cookies, snack cakes, and chips, researchers at the University of Minnesota found that less expensive items tend to have more trans fats than those that cost a little more. These processed fats, which have been shown to raise your LDL (bad) cholesterol level, may show up on ingredient lists as partially hydrogenated or hydrogenated oil and shortening.
On the heels of the release of their new album, Crash Love, perennial rockers AFI have announced a new string of tour dates, taking them throughout the West in January. Fans who have checked out the band’s East Coast dates have been treated night after night with a mix of old and new songs spanning AFI’s massive eight album catalog. Included as a staple each night is Crash Love and live-set opener “Torch Song,” which AFI recently released an exclusive demo of via Google’s La La music platform.
Also new from AFI will be a release of a 5 song pack on Rock Band which will be available 11/17. The downloadable addition to the game will include “Love Like Winter,” “The Leaving Song Pt. II,” and Crash Love favorites “Beautiful Thieves,” “End Transmission” and “Medicate.”
Tour Dates:
November 03 Tulsa, OK Cain’s Ballroom
November 04 St Louis, MO The Pageant
November 06 Kansas City, MO Uptown Theater
November 07 Chicago, IL Riviera Theatre
November 09 Detroit, MI The Fillmore
November 10 Toronto, ONT, Canada Sound Academy
November 12 Philadelphia, PA Electric Factory
November 13 New York City, NY Roseland Ballroom
November 15 North Myrtle Beach, SC House of Blues
November 16 Atlanta, GA Tabernacle
November 18 West Palm Beach, FL Pompano Beach Amphitheatre
November 19 Lake Bueuna Vista, FL House of Blues
November 21 Houston, TX Verizon Wireless Theater
November 22 Austin, TX Stubbs
December 4 Dallas, TX Nokia Theatre
December 6 Denver, CO Magness Arena
December 8 Salt Lake City, UT In The Venue
December 11 Oakland, CA Oracle Arena
December 13 San Diego, CA Viejas Arena
December 15 Winnepeg, MB Canada Winnipeg Convention Center
December 16 Saskatoon, SK, Canada Prairieland Park
December 18 Edmonton, AB, Canada Shaw Conference Center
December 19 Calgary, AB Canada Big Four Building
December 21 Victoria, BC, Canada Save On Foods Centre
January 16 Reno, NV Knitting Factory
January 18 Boise, ID The Big Easy
January 19 Missoula, MT Wilma Theater
January 21 Spokane, WA The Big Easy
January 22 Seattle, WA Showbox SoDo
January 24 Vancouver, BC The Commodore
January 25 Portland, OR Roseland
January 27 Fresno, CA Rainbow Ballroom
January 30 Tempe, AZ The Marque
January 31 Las Vegas, NV House of Blues
For the latest information and tour dates from AFI visit www.AFireInside.net or www.MySpace.com/AFI.
Looks like Mickey Mouse is getting a complete makeover! Disney is not only reinventing Mickey’s look, but also the way he walks, acts and talks!
For years Disney has avoided making any changes to the character that basically represents Disney, but has recently re-evaluated Mickey’s role as a corporate symbol rather than beloved character.
You can get your first glance at the new Mickey in the video game Epic Mickey.
I wish my parents had put me in gymnastics when I was young…
PLAY
