For a number of years, my partner Jason Mendelson has been teaching an extremely popular course at CU Boulder Law School with Brad Bernthal titled Venture Capital – A 360 Degree Perspective. While it’s a course taught in the law school, it’s (not surprisingly) become popular with the MBA students at CU Boulder.
Brad Bernthal, Phil Weiser (the Dean of the CU Law School), and I have been talking about a new course to complement VC 360 called Entrepreneurship, Innovation, and Public Policy. We’ve decided to take a crack at a cross-campus course (law, engineering, and business) that focused on contemporary issues around entrepreneurship, would be a great introduction to any student who wants to immerse herself in entrepreneurship, and would enable us to create some unique content around this topic.
We envision a two hour a week course (over seven sessions) that has a heavy reading, class participation, and writing component. Our goal will be to put this up on the web as well to provide content (and potentially interaction) to a much wider community.
Following is a first draft of a syllabus. I’m looking for two types of feedback: (1) comments on the syllabus and (2) suggestions for web services to use to package this content up for broader distribution.
This one credit course, available to first year law students in their second semester as well as a select number of graduate students in the Business School students and School of Engineering, will explore a set of cutting edge questions around entrepreneurship. Students in the class will be required to write a ten page paper as well as participate actively in the course (including on a class blog). Since class participation is a core part of the course (counting for 20% of the grade, with the other 80% based on the paper), any missed class must be made up by writing a 1 page reaction paper.
1. Being an Entrepreneur. Reading: The Start-up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career (Hoffman, Casnocha). Five Minds for the Future (Gardner).
2. Leadership and What Makes a Great Founding Team. Reading: Do More Faster: TechStars Lessons to Accelerate Your Startup: (Cohen, Feld). Leadership Lessons From the Shackleton Expedition (Koehn).
3. Building and Scaling A Business. Reading: The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses (Ries).
4. Entrepreneurial Communities. Reading: Startup Communities: Creating A Great Entrepreneurial Ecosystem In Your City (Feld). Kauffman Index of Entrepreneurial Activity 1996 – 2010.
5. Financing Entrepreneurial Companies. Reading: Venture Deals: How To Be Smarter Than Your Lawyer (Mendelson, Feld). Improving Access to Capital for High-Growth Companies (Department of Commerce – National Advisory Council on Innovation and Entrepreneurship)
6. Entrepreneurial Leadership in Government. Reading: Alfred Kahn As A Case Study of A Political Entrepreneur (Weiser). Start-up Nation: The Story of Israel’s Economic Miracle (Senor and Singer).
7. Entrepreneurship and Innovation Policy: Reading: Accelerating Energy Innovation: Insights from Multiple Sectors (Henderson, Newell).
In the “you’ve got to be fucking kidding me” category, “a Missouri federal judge ruled the FBI did not need a warrant to secretly attach a GPS monitoring device to a suspect’s car to track his public movements for two months.”
I had to read that sentence twice. I simply didn’t believe it. Fortunately this one will go to the Supreme Court. The punch line from Justice Breyer is right on the money: “If you win this case, there is nothing to prevent the police or government from monitoring 24 hours a day every citizen of the United States.”
GPS tracking. Hey – did you know that you can already track me through my cell phone without my permission? How about a little tag sewn into all clothing that uniquely identifies me. Or maybe something injected under my skin. Giving the government the right to do it without probable cause or any process, or suggesting that someone doesn’t have a reasonable expectation of privacy, just feels evil to me.
The depth of the ethics of these issues are going to be significant over the next decade. It will be trivial for any of us to be tracked all the time without our knowledge. Don’t want a device – how about image recognition view the web of surveillance cameras everywhere.
I don’t have any answer for this, but I have a lot of questions and ideas. And I’m glad that I live in the US where presumably my civil liberties, privacy, and freedom of speech are sacred. I know there are plenty of people in the US that don’t agree with this, or believe that the government should have more control around this to “keep out or find the bad guys.”
Philosophically this is a hard and complex discussion and has been since the creation of the United States of America. The difference, right now, is that technology is about to take another step function leap that no one is ready for, or is thinking about, or even understands, that will create an entirely new set of dynamics in our society. Our government, especially leaders in Congress, the White House, and the Judicial System need to get much smarter – fast – about how this works. SOPA / PIPA is an example of terrible legislation that runs the risk of massively impacting innovation and individual freedom of speech. But it’s just a start – there is a lot more coming.
Denying that there is going to be a dramatic shift in how humans and computers interact is insane. Trying to hold on to incumbent business models and stifle innovation through legislation is dumb. Trying to create complex laws to contain and manage the evolution of technology, especially when it transfers power from innovators to non-innovators, or from the rights of private citizens to the government, is a mistake and will fail long term. Trying to repress free speech of any sort is wrong and won’t be sustainable.
I live in a world where you can’t anticipate or control change. It’s coming – and fast. Let’s embrace it and use it for good, not resist is and try to surpress it in the name of “protecting ourself from bad actors.” I pledge to do my best to always be thoughtful about it and be a force for good in the world. But please, don’t deny the inevitable – embrace it, and build off of it. It’s what makes America amazing and extremely durable long term.
There are two very disturbing bills making their way through Congress: Protect IP Act (PIPA – S.968) and Stop Online Piracy Act (SOPA – H.R.3261). These bills are coated in rhetoric that I find disgusting since at their core they are online censorship bills. It’s incredible to me that Congress would take seriously anything that censors the Internet and the American public but in the last few weeks PIPA and SOPA have burst forth with incredibly momentum, largely being underwritten by large media companies and their lobbyists.
A number of organizations in support of free speech and a free and open Internet have recently come out in opposition to these bills. They include EFF, Free Software Foundation, Public Knowledge, Demand Progress, Fight For the Future, Participatory Politics Foundation, and Creative Commons who have organized American Censorship Day tomorrow (11/16/11).
If you run a website or have a blog, go to the American Censorship site to see how you can participate on 11/16/11.
In addition to being censorship bills, these are anti-entrepreneurship bills. They are a classic example of industry incumbents trying to use the law to stifle disruptive innovation, or at least innovation that they view as disruptive to their established business. To date, the Internet has been an incredible force for entrepreneurship and positive change throughout the world (did anyone notice what recently happened in Egypt?) It’s beyond comprehension why some people in Congress would want to slow this down in any way.
While you can try to understand the bills, this short video does a phenomenal job of summarizing their potential impact along with second order effects (intended or unintended).
PROTECT IP Act Breaks The Internet from Fight for the Future on Vimeo.
I’m furious about this, as are many of my friends, including Fred Wilson who wrote today about how these bills undermine The Architecture of the Internet. But we are aware, as are many others, that simply being mad doesn’t solve anything. Join us and speak out loudly against censorship – right now! If you have a blog or website, please take part in American Censorship Day – the instructions are on their website which – so far – hasn’t been censored.
As 2011 kicks off, I think we are in for a ton of innovative software and Internet stuff this year. Yeah, some of it will be “just like everything else but different.” However, of the areas we invest heavily in – human computer interaction – has an incredible amount of activity going on. I’ll be at CES in Las Vegas this week so I expect to have a dose of nerd-eye-candy (e.g. the latest TV sets) along with a bunch of cool / amazing / clever / intriguing new HCI things.
I expect CES will be a classic case of “a mile wide and an inch deep.” If you want to go really deep with HCI, consider joining me at the Blur Conference in Orlando on 2/22 and 2/23 especially if any of the following topics appeal to you.
I’ve accepted the reality that the computers are going to take over during my lifetime. I just want to help be involved in writing some of the code to hedge my bets. Register now to come join me in my quest.
Last night I printed, signed, scanned, and emailed two signature pages. As is my custom of not keeping anything around, I tore up and tossed the sig pages and then deleted the files. This morning I woke up to an email saying “We didn’t get your signature pages. Can you please send them.” I just went through the same print, sign, scan, and email process again.
This is so profoundly stupid. I sent a note yesterday afternoon in reply to the email thread asking if I was all set to go that said “I’m all set to go.” A bunch of lawyers were on the email thread (mine and the company’s.) We are wiring the money today. Now they have some pretty scanned sig pages also.
There has got to be a better way. Over the last decade, there have been lots of “electronic signature” companies pop up. None have seemed to take root in the corporate world. In the past year, I sold a house and bought a house. In both cases, there was some goofy online thing that I signed with my mouse (my signature looked like a messy “X”) for the offers (to make / accept) but I still had to go to the title company and sit and sign 37 documents to close. Every time I go to the grocery store I swipe my credit card through a little electronic checkout machine and when it’s time to sign, I put a big “X” on the sig line.
When I think about the number of places my actual signature is at this point, it’s a pretty useless mark. But for some reason it’s still important in the legal closing process. This now seems more like a tradition, instead of a useful thing.
While I’m not interested in funding something in this arena (it’s outside our focus), it seems like there’s finally an opportunity to solve for this, at least in the corporate world. I’m not talking about biometrics or retina scanning – just a valid electronic signature that becomes a standard. Maybe someday. Wouldn’t it be cool if they lawyers took this on and tried to solve it?
Like most of the blogosphere, I’ve been trying to use Flipboard since its extraordinarily well executed (or well hyped – I can’t tell yet) announcement. But, like almost everyone I know, I can’t get it to authenticate Twitter or Facebook. Two days ago I entered in my email address to reserve my place in line. Today, at 9:55 AM AKDT I got an email titled “Your Flipboard is Ready to Customize” that said:
Hi there. We’re now ready for you to set up your Facebook and Twitter accounts on Flipboard. Try it out and let us know what you think. And thanks again for your patience and enthusiasm.
I went to connect up my Twitter and Facebook accounts. Nope – doesn’t work. At 10:34 AM AKDT I got an email titled “Apology, and Flipboard Confirmation”
We just sent you an email telling you that we were ready for you to set up your Facebook and Twitter accounts. We are sorry to say that our email system sent the wrong email. We were actually trying to send you an email confirming your place in line for you to setup your Facebook and Twitter sections.
You will receive another email when your reservation is ready. We are working around the clock to get you your invite and will send you your official invite soon.
Thanks again for your patience and support.
Oops.
Tonight’s book is The New Polymath by Vinnie Mirchandani. Actually, it’s the book I read the last two nights as it was too much to get down in one night. I’ve been promising Vinnie that I’d read his book ever since he sent me the galleys a few months ago. I tossed the PDF up on my Kindle which, when I got around to it, was unreadable because of the tiny font and the way the Kindle scaled the PDF to fit the page. I promptly went on to another book and never read it.
Vinnie was patient with me and was willing to keep talking to me and provide some advice on a completely unrelated topic. When the book came out I hopped on Amazon and plopped down whatever they charged me for the Kindle version. And I’m glad I did, not just because I like Vinnie and his writing, but because it’s an excellent book.
For a feeling of the type of topics Vinnie covers, take a look at his blogs: Deal Architect and New Florence. New Renaissance. Vinnie is all innovation, all the time. Which I love.
The New Polymath was an excellent tour de force of innovation. Vinnie served up example after example after example in an interesting and relevant framework that kept things moving, unlike a lot of business books where you hit page 79 and just stall. In this case, whenever an example started to peak, it was time for the next one. Last night, I stopped and went to bed when I was about halfway through and considered letting the book sit for a few days but tonight when I finished dinner I sat down and finished it off.
The only chapter I found too long and uninteresting was the one on BP, but I couldn’t figure out if that was because of what’s currently going on with BP or if it was just too much by the time I got to it. But, like a reference on someone where the inevitable “does the person have any weaknesses you are aware of” question arises, I get to point to the BP example and say “ok – that one wasn’t my favorite, but it was minor compared to all the great stuff in this book.”
It was kind of fun to see lots of friends and colleagues as examples. This was an unexpected surprise as I hadn’t previewed the book in advance and had never talked to Vinnie about it. Like any good polymath, Vinnie covered a lot of different ground. While there was a tech / IT / Internet focus, there was plenty of cleantech, energy, bio, and broad business (non-tech) examples. And there were a couple that were deliciously surprising and unexpected.
Vinnie gave me a copy of a book to give away to one of you, demonstrating his command of social media marketing. I’ve decided to run a competition – the best haiku with the word “polymath” in gets the book. Leave your haiku in the comments (make sure you use a valid email address so I can email you if you win.) Show me what you’ve got.
Update: A few folks emailed me that they couldn’t find the Kindle Version of The New Polymath. For some reason it’s not linked to the hardback edition.
I’m in Washington DC again – this time to talk about innovation. I’ve been here three times in the past year – the first time was to hear Bilski at the Supreme Court in November and then I was back in March to talk about and promote the Startup Visa.
Yesterday, Thomas Friedman article wrote another great OpEd about the topic titled A Gift for Grads: Start-Ups. As with many Friedman OpEd’s, rather than just railing against the situation, he suggests several specific things that can be done – in this case by the current administrationb. His premise is that to solve the unemployment issue, especially among recent college graduates, we need three things: more start-ups, more start-ups, and more start-ups. And to do this, Friedman talked to Robert Litan (vice president of research and policy at the Kauffman Foundation) and Curtis Carlson, (CEO of SRI International) and came up with the following.
I strongly agree with each of these. My one small addition to the Secretary Newco idea is that person should be an accomplished entrepreneur rather than a career politician, policy person, academic, or lawyer.
Over the next two days I’ve got a meeting with each of my Colorado Senators (Michael Bennet and Mark Udall) as well as a summit at the White House led by Phil Weiser (Director of Technology and Innovation for the National Economic Council), Aneesh Chopra (CTO of the US), and Vivek Kundra (CIO of the US). Our summit includes a small group of VCs from different parts of the US that I’ve helped put together and it’ll focus on the issue of early stage entrepreneurs and innovation throughout the country (specifically – more than just Silicon Valley). I’m also participating in a roundtable titled Implementing The National Broadband Plan and Protecting Consumer Choice: The Venture Capitalist Perspective with fellow VCs Brad Burnham from USV and Santo Politi from Spark Capital. And, as a special bonus, I’m going over the CIA later today for a tour, although I can’t talk about it, so you didn’t just read that.
I don’t spend a lot of time in DC, in politics, or even following politics (I’ve never been a political junkie) so these short immersions are fascinating to me. Hopefully when I look back on the time I’ve spent on this stuff I’ll feel like it’s been a productive effort for the cause of entrepreneurship and innovation in the US which is the thing I spend all my time actually working on by helping create new companies.
When I was on vacation last week, I read John Bogle’s book Enough: True Measures of Money, Business, and Life. In addition to be a superb book, it had a bunch of tasty little nuggets in it. One of my favorites was “the three i’s – innovator, imitator, and idiot” that was attributed to Warren Buffett.
I thought of this nugget this morning when reading Fred Wilson’s post When Government Funds Business. In it, he concludes “When government funds business, it messes everything up.” One of his examples is the delicious irony that Citi – which just got more government money – is running traditional print ads in the NY Times.
Fred’s wife Joanne’s reaction to this is "We are paying for that ad. In a newspaper that less and less people read every day. No wonder they are in trouble". Yup – I’d put that behavior in the idiot column.
However, I’m aware of some things going on at Citi that I’d put in the innovator column. They aren’t public so I don’t think I can talk about them, but I’m amazed at how forward looking, innovative, potentially transformational, and relatively inexpensive these activities are. They are the kind of fundamental investments that you’d hope major companies are making to stay relevant in the next decade.
While most people aren’t innovators, that’s ok. Many American’s understand the importance of them and – when the innovators take leadership roles – they motivate the non-innovators to follow them. In a twist on Buffett’s line, I’d suggest that if you apply it to leadership, you can segment leaders into three categories: innovators, imitators, and idiots.
When I think about my experiences with large companies, I see Buffett’s quip all over the place. Their leaders include innovators, imitators, and idiots throughout the organization. Same with government. The challenge is the innovators – especially when they are in a culture that is playing defense or simply trying to survive – often get drowned out, discouraged, or marginalized.
I believe that one of the key foundations that America has been built on is the innovator. At all levels of society, throughout history, the innovator has led, created change, and inspired greatness throughout our history. People love to follow the innovator. While the innovator is willing to take risks that might result in failure, not taking the risks often results in even greater failure.
My appeal to all leaders in big companies – and in government – is to innovate. Play offense. If you don’t know how to do this, look around for the innovators in your organization and team up with them. Challenge the imitators to step up their game. And don’t tolerate the idiots in any way, shape, or form.