Monthly Archive for May, 2010

My media consumption – three years on

I was reflecting on a conversation the other day where I said I no longer read the news, a bizarre fact given as a teenager and young adult I was a newspaper junkie. Certainly, things have changed – even since three years ago when I wrote about my media consumption.

And it’s true – I don’t read newspapers or many news sites anymore. But I’m actually better informed about the world now.

How so?

– My iPhone has improved my productivity. I’m reading things constantly off it. It’s an important distribution tool worth pointing out, which is why I consume information like I do now.
Current homescreen
– Like I did in 2007, Techmeme is something I religiously check every day and increasingly Mediagazer. Both are icons on my iPhones’s homescreen.
Twitter and Facebook are a huge source of how I find out about things or come across interesting content. (Also both on my phone’s homescreen.)
– I am a subscriber to the geopolitical thinktank Stratfor, which tells me where the US navy is on weekly basis, breaks news to me for major political news or dramatic calamities, and gives me essays filled with complete perspective. I don’t have the ability to read all the emails, but like Techmeme, merely reading the headlines is enough to keep me on top of things. And the interesting point to note about this, is that this is premium analysis – the stuff the intelligence community and government policy makers subscribe to. It’s seems like I’ve cut the middleman out (the newspaper journalists) and gone closer to the source of the original analysis. By implication, I’ve chosen the better analyser and that has now become my default news provider.
– I have BNO news and the Associated Press applications on my iPhone, which send me alerts to news items through the day via push notification. I also have the NY Times and WSJ journal apps and which I used to use religiously a year ago, but for some reason I no longer do. (Maybe because they are now buried in my iPhone’s menu.)
– Recently, I changed my homepage from Techmeme to be three homepages: my company’s internal blog, OneRiot which flags the top news shared through Twitter, and Techmeme. The addition of OneRiot has got me hooked these last few weeks: its given me a great source of headline news and useless news, like celebrity gossip that I don’t normally seek. That’s not to say I like celebrity gossip, but it completes my knowledge gaps of what’s happening in the world and that other people are talking about.
– I no longer listen to the radio, the prime reason being I don’t have a car here in San Francisco. If the iPhone had a radio, I probably would – I have my headset in my ears usually every day at work, to help me focus.
– I am a paying subscriber to Pandora, the online music discovery service. (I’m listening to it right now as I write this post!) I prefer it not because my music collection is weak, but because I like being introduced to songs I might not normally know about.
– I have cable TV in my apartment (Comcast), but I never watch it. And when I do, it’s when I want to just switch off for a bit.

My current approach has gaps: for example, I am detached from Australian news. Regardless, its proved an interesting point: I no longer have time to read newspapers like I used to as a teenager. What’s changed is the way I consume information, which allows me to consume more with less effort. I’m one of the busiest guys I know, but thanks to technology, I can be efficient with my time.

How to build a billion dollar company

Matt Mullenweg made an excellent comment on a topic I’ve often thought about. The comment was made in the context of the anniversary of wordpress.

Has it really been seven years since the first release of WordPress? It seems like just yesterday we were fresh to the world, a new entrant to a market everyone said was already saturated. (As a side note, if the common perception is that a market is finished and that everything interesting has been done already, it’s probably a really good time to enter it.)

WordPress not only has become the most popular blog software and one of the most amazing content management systems around, but its become an amazing platform for innovation. (For example, Ron Kurti and I the other day tried to think outside-of-the-box for employee expense reports at Vast. So we hacked a wordpress blog to do so – and we could do it in minutes of effort.) Not only that, but the wordpress.org founder built a company around the software and it’s become a very successful company on the web. Thank God he entered at a time of market saturation.

But it doesn’t stop there. Consider the following stories as well, which highlight lessons in building amazing companies.

  • When Google launched as a search engine, everyone though the space had matured and had little opportunity. Google has now become one of the most influential companies in history.
  • When Apple launched the iPod, the MP3 player market had been well established. No one at the time would have thought another product from this yesteryear company, would be the product that help it reinvent the company to become the second largest US company today.
  • When Facebook launched, it was yet another social network well after Friendster (the inventor) and MySpace (the populariser). In fact, I remember analysts calling 2003 the year of the social network – a year before Facebook was even invented. And now, Mark Zuckerberg has created a company that will transform online advertising, has helped contribute to the new billion dollar virtual goods industry, and is going to lead the charge for the semantic web.
  • In 1990, hyptertext systems had saturated the market since the 1960s when Ted Nelson coined the term. That didn’t stop Tim Berners-Lee, who that year invented the web – yet another hyptertext system. The Web is not a company like the ones above, but the Web is in league that few inventions in the history of the humanity have ever achieved.

Naval Ravikant has told me that in the consumer web space, the first mover advantage is so great that a company can own the space – the logic being they are so far ahead in execution and their brand is synonymous with the industry, that they become impossible to topple. This fact is why I think a lot of entrepreneurs in the Internet space seem consumed with creating a business that introduces a new concept product, as opposed to a better product – which is what the above companies did..

I think there is something to be to be said about the last mover advantage: monitor the patterns of something new, innovate on the implementation, and then out-execute the guys that invented the concept. And out execute you can easily, as the inventors are probably caught up in organisational inertia due to conflicting innovations, not to mention a misunderstanding of what actually made them successful in the first place.

As it was said once: the guy who invented the first wheel was an idiot; but the guy who invented the other three was a genius.

The Startup Bus on failure

Hard to believe it’s been two months since the event. A lot’s happened since then which had me pause this blog series, but I’m now going to restart it and share the lessons during and after the experience.

Pollenizer is an agency that helps startup’s grow, run by my good friend Mick Liubinskas and his superstar business partner Phil Morle. They sponsored the bus, with the request an important lesson be shared, which was related to failure.

Below is a short video of Brandon Leonardo – a superstar that I think is going to go very far in his career. He however, had a very unfortunate incident that nearly threw off the entire operation of the bus. The incident revealed an important lesson for Brandon about how you deal with failure. Watch the video the find out what.

This blog post was done in honour of our proud sponsor Pollenizer. This post is part of a series on the Startup Bus, an event that occurred in March 2010 that was powered by Alassian, mentored by the eStrategy Group and supported by several other very generous sponsors.