Running in Los Angeles
I’m gearing up for the New York Marathon at the beginning of November (yes – I have a number – thanks Jack). I’m running it with Matt Blumberg (unless he decides to run for time and try to break four hours – then he’s on his own) so I’ve been logging some serious miles.
This was my first week on the road since I got back from Alaska. My travel rhythm is completely bunged up and – as a result, I’ve been unable to get out of bed early enough the last two days to get my runs in before the day starts (yes – it’s dark at 5am in Atherton these days). I ended up in LA this afternoon at the Microsoft Professional Developers Conference and – after sitting through the one session I was really interested in (Windows Vista: Building RSS Enabled Applications) decided to squeeze in a run before dinner.
The hotel I’m at has a nice little laminated card with a “Runner’s World Magazine Recommended” 6 mile run – so I hit the road and did that. The first mile on Figueroa Street was nice enough, but then I turned left on Sunset to head up to Elysian Park. Suddenly, I went from a nice downtown to lower pitsville – trash everywhere, broken down buildings, graffiti, tar scars all over the sidewalk, and the smell of yuckola everywhere. Eventually I got to Douglas and did a sharp uphill to Elysian Park where I went from pitsville to a scene from 24 Season One. I’m Kim, on a dusty, isolated fire road, up above the street by a half a mile, tromping along looking for some sign of a normal human being. I kept waiting for one of Marwan’s honchos to step out from the trees at the side of the path (yes – I know I’m mixing up seasons). Eventually I got to Stadium Way (where it turned pretty again) – at which point I turned around and retraced my steps. This time I had the extra bonus of rush hour traffic and – as I noticed that virtually every car only had one person in it – I soldiered on back to the hotel.
My standard line for Alaska is that the place needs a paint job and a vacuuming. This place needed a power wash. At one point, the unambiguous smell of shit overwhelmed me. I wrote it off initially (every runner I know farts with enthusiasm) but then realized that it both wasn’t my brand and was just lasting too long. Somewhere on Sunset between Figueroa and Douglas is a shit-smell factory that must operate 24 hours a day to generate the haze that lingered.
My eyes are still burning, I’m coughing a little, and I’m ready for a nice dinner at The Palm with a bunch of Microsoft folks. At least I got my six miles in.
Letter of Intent
Coming off the high of a manic Monday in the tech business, Jason and I have decided to follow our Term Sheet series with a new series scintillatingly called “Letter of Intent.” Deals like eBay / Skype (wow – what a deal – congrats to DFJ, Bessemer, Index, and especially the Skype guys) have to start somewhere, and often the first real “document” that gets negotiated after the foreplay turns serious is the infamous “letter of intent.”
Now – our friend Jack Bauer doesn’t bother with these – he rarely has time to call the lawyers or review documents. However, most deals – especially those involving private companies – involve a letter of intent. This sometimes delightful and usually non-binding document (except for things like a no shop agreement) is also known as an LOI, indication of interest (IOI), memorandum of understanding (MOU), and even occassionally a term sheet.
As with the Term Sheet, there are some terms that matter a lot and others that don’t. There are plenty of mystery words that an experienced deal maker always knows how and where to sprinkle so that he can later say “but “X” implies “Y”, often resulting in much arguing between lawyers. We’ve had LOIs get done in a couple of hours and had others stretch into periods of several weeks – experience, knowledge, and understanding matter and the LOI negotiation is usually a first taste of the actually negotiating style you will experience from the other party.
We look forward to walking you through this and hopefully concluding before Jack comes back.
Don Dodge On Why NewsGator Is A Blog User’s Best Friend
Don Dodge – one of the guys at Microsoft on the Emerging Business Development Team – has a nice post up on why he loves NewsGator and how it fits into the Microsoft ecosystem.
RSS and Security
As RSS becomes more popular, it’s inevitable that people will begin talking about security and companies will release “secure RSS related products.” Before the feeding frenzy on RSS and security begins, it’s useful to step back and think about what is already in place and available. Greg Reinacker – the founder / CTO of NewsGator – takes a crack at this in his recent post titled “RSS ‘security’”.
WSFinder – Wiki for Web Services and Open APIs
I’ve written in the past about the importance of APIs in today’s “web application” world. Chris Law – an early employee of Tribe – has just created a Wiki that is a directory of the publicly available API / web services. There is a corresponding blog to help report updates and changes. Many of the expected APIs are already listed, but there are some good ones that are off the beaten path such as the Memorial Sloan-Kettering Cancer Pathway (cPath) Database and NOAA’s National Weather Service.
If you’ve got an API, or know of one, contribute to the Wiki.
What Did You Do This Week To Help Victims of Hurricane Katrina?
As I get caught up on various blogs I subscribe to, I’ve seen many suggestions, actions, and wonderful stories of help for Katrina victims this week. Most of the companies I’m involved in did something – ranging from contributing a percentage of September revenue to sending folks down to volunteer.
Rick Segal wrote about what one of his portfolio companies – which makes kits that enable light steel buildings – is doing. Money helps, but active deployment of new technologies to help is great leverage – both for this situation and in advance of the next inevitable disaster. My understanding is that Rick’s company GenesisTP is offering up the use of their facility at their cost to help enable the rapid creation of new buildings. Rick / GenesisTP aren’t looking to make money on this disaster – rather they are taking a longer term view around the value of the IP they are creating while getting real experience and exposure to disaster scenarios which they can then use to proactively sell their technology / IP in advance of the next catastrophe like this.
Work Life Balance Interview
When I posted the article I wrote on Discovering Work Life Balance for the MIT Sloan School Alumni Magazine, I received numerous positive comments as well as several follow up interview requests. One of them was from The Open Grove, a non-profit in Denver that “is an independent forum that provides a dynamic convergence of perspectives on holistic health and well-being.”
Claudia Christian – the founder of The Open Grove – asked me a few questions; the resulting interview is available now. It’s only 11 minutes long, is tightly (and nicely) edited, and is a good companion to the article I wrote. Enjoy.
Katrina Would Have Flooded Boston from the North End to Sudbury
If you know Boston but don’t know New Orleans, boston.com has a superb graphic that is a mashup of New Orleans, Boston, and the area that was flooded. It’s an amazing perspective for anyone that knows the Boston area. The North End, Harvard Square, Brookline, Newton, Wellesley College, and Framingham are all under water. Shoppers World in Framingham is spared, but just barely.
Teaser For Pascal Levensohn’s Upcoming White Paper on Replacing a CEO
Pascal Levensohn just put up a teaser post about his upcoming white paper addressing venture governance and the CEO succession challenge. I’ve referred to this paper in the last two posts I wrote on signs that a board should consider replacing the CEO and talking to fellow directors about replacing a CEO.