A highlight for me at Web 2 was watching John Heilemann interview Fred and John, two giants of the VC world. This was a pretty historic pairing, and I’m very pleased we made it happen. For your enjoyment:
Fred Wilson and John Doerr: A Great Conversation On Financing
A highlight for me at Web 2 was watching John Heilemann interview Fred and John, two giants of the VC world. This was a pretty historic pairing, and I'm very pleased we made it happen. For your enjoyment:…
Ever wonder why Microsoft came up with X-box points? (Probably not because my bet is that this crowd already has a pretty good idea.)
It’s because they wanted to be able to accomodate very small transactions without the user having to go through some big hassle… and especially because the transaction costs would make the whole business of low-cost virtual goods completely non-viable.
I’ve never talked to an Angel or VC. It might be a worthwhile experience.
There’s a special class of virtual goods that could also find use for these small transactions but needed a little help: Political contribution
Especially… in networked citizen lobbying.
The last elections cycle saw an incredible $4 billion spent. That works out to about 60 cents a week per registered voter.
I believe there are citizens interested in getting into the act. Maybe some of them frequently. Maybe some only occasionally. Maybe some never.
But enough that by combining that simple capability with the ability to use the same account network to contribute to charities (while most DON’T now ever contribute to political causes… most DO contribute to charities)…
There’s a catalyzation of a network that can not only provide a very stable and dedicated User-base (unlike Facebook)… but… well this is just a brief comment so I’d sum it up as… virtually come to completely dominate the Charity/campaign services sector. I’d like to explain how if its not already clear.
It believe this model will work like a chemical formula… though as your guest noted… implementation is critical. Which is why I can’t do it by myself.
If you know any folks in this Internet or Social Media biz I’d love to talk to them.
USPTO PATENT GRANTED FOR COMMONS-DEDICATED ACCOUNT MECHANISM… (additional patents possible)
P.S. I’m getting hits from all over the world to my blog on this… there’s actually a theoretical underpinning which I kind of like which understands money as a store of ‘social energy’… or what might be called ‘decision rights’. This network is a fundamental.
P.P.S. Anybody got $2005 for final payment to patent office and attorney? Deadline is Dec 7. I’m sure I’ll get it somewhere. Anybody looking for a 2002 Honda Accord?
It’s going to make a hell of a movie!
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Great job bringing these two gentlemen together for a candid discussion; by far, my personal highlight from this year’s summit.
I would like to hone in on one of John Doerr’s statements, “Execution is Dear.” Arguably, this really sums up VC value; you can have all the best ideas, platforms, open systems, etc… but if you don’t develop a team that can execute or which builds the capability to compete on multiple levels (being open is just one element), it becomes difficult to sustain that business over time.
Peter F. Drucker stated, “any business that cannot attract the people and the capital it needs will not last long.”
Both Fred and John really measured up in this discussion, amazing! Thanks for sharing your insights and inspiring many!