Graeme Thickins on Tech

Reflections & analysis about innovation, technology, startups, investing, healthcare, and more .... with a focus on Minnesota, Land of 10,000 Lakes. Blogging continuously since 2005.

Tag: startups (Page 9 of 19)

Zen and the Art of Startup Maintenance: The Story of One Helluva Serial Entrepreneur

May 17, 2008 / / 1 Comment

I’ve known Steve Larsen for a long time — ten years at least — and, wow, it seems a lot longer in Internet time. Steve is one of those people you feel you’ve always known. He’s one of the guys I respect most in the entire technology industry — a smart marketer, brilliant strategist, and just a top-notch people person and leader. Even though he left the Twin Cities five or six years ago for the fast-lane of the Valley, we still manage to run into each other a few times a year. Graemewstevelarsen
One of those times was at a conference several months ago, where we got to talking [okay, it was over several adult beverages] about how long we’d known each other, and I started recounting the amazing ride this guy has been on since I first worked with him when he was SVP of Marketing at Net Perceptions here in Minneapolis, back in the day. And we decided I should write about him [Steve has this way of making me feel like I’m a really good writer] — that is, track the story of what I thought was just an extremely interesting and unusual background for one guy to have in this crazy startup world, stretching over at least a decade. 

So, that’s what I set out to do: a full-blown feature on the life of a serial entrepreneur who just can’t stop, going from one cool gig to another — much like his other life of testing new motorcycles and touring all over the world. You see, Steve likes speed, in more manifestations than one, and is just always on the go. [I remember when he took me for a ride in some hot, new red sports car he’d just bought, taking it up to like 80 mph in about a two-block distance(!), on a lonely stretch of frontage road near the Sofitel. My life flashed before me.]  It seemed an interesting mix to me — motorcycles, speed, and the entrepreneurial CEO — that people could relate to. So, I proceeded to put together the basics of an article soon after we met, then continued to tweak it here and there in my extra time on weekends, adding updates along the way.  Soon, with some help from one of Steve’s very fine PR folks at PageOne PR, we set out to pitch it to some mags. Well, we didn’t get far till Chief Executive Magazine grabbed onto it, and, to our delight, decided to publish it last week as one of the first articles in its "Entrepreneurial CEO" section. Perfect. If Steve doesn’t fit that label, nobody does. Here it is: Zen and the Art of Startup Maintenance, by yours truly.

Chiefexeclarsenarticle

I’m delighted that the readers of this fine, long-standing publication are now getting to learn about this very talented guy. I think they’ll learn a lot. And, Steve, my hat’s off again to you!  It was a pleasure being about to tell just a part of your amazing story….one that’s really still being written, as the readers of this article will learn. Continued best of luck with Krugle, a company I am convinced will rock the world of code search!

Krugleappliance

You can bet I’ll be following along, and I certainly look forward to being able to relate the next chapter in this very interesting guy’s life. [Okay, Steve, you now owe me another adult beverage at our next conference! Maybe DEMOfall in September? And Defrag, too, in November  🙂 …and…and…]

Minnebar ’08 Schedule Announced – It’s Hot!

May 7, 2008 / / 1 Comment

The program for our annual Minnesota Barcamp — Minnebar — was just released late yesterday. The event is being held Saturday, May 10, at the Coffman Union on the U of MN campus. Here’s a look at where things are so far, and note that it’s subject to change.

Minnebar08sched1

Don’t miss the panel at 12:00 noon: "State of the State: Technology in Minnesota" in the theater on the first floor. Panelists include:
• Doug Olson, who heads a Microsoft developer team in MN
• Jamie Thinglestad, Mpls-based CTO of Dow Jones Online 
• Michael Gorman, Partner at VC firm Split Rock Partners
• Robert Stephens, founder of Geek Squad (a unit of Best Buy)
• And Dan Grigsby, our infamous local rabble rouser at Unpossible.com 🙂 and original lead organizer of Minnebar/Minnedemo.
Minnebar08sched2_3
Note the "Lightning Demos" at 4:00 and 5:00 — which I think will be especially good!  These are five-minute presentations available to new or existing startups, or anyone who has a new idea or favorite topic to talk about. If you want to add yours to the list (which is not yet published), just send an email to event co-orgnanizer Luke Francl at look (at) recursion (dot) org — telling him your name, company name, and what you’ll be talking about. Minnebar08sched3_3

See you Saturday! This will be fun — how could it not be, with a frenzied crowd of some 400 of your fellow MN tech enthusiasts? 🙂

I’ll be there Twittering and shootin’ pix all over. And I’m also part of the Minnov8 team, who’ll be Twittering as well. But, trust me, there’ll be plenty of hot networking in between!

Geeks, Entrepreneurs, Designers, Angels, VCs, and Marketeers ….. Let’s Mix It Up!

May 4, 2008 / / 0 Comments

Minnebar is Saturday, May 10!  MInnesota’s all-day annual Barcamp event is not to be missed.  New venue this year (bigger and better): the gloriously redone Coffman Union at the U of MN (cool place if you haven’t checked it out yet). To sign up, just go the event site (a wiki page), hit Edit Page, and add your name and links. Minnebar(Minnebar is held once a year, while evening "Minnedemo" sessions are held in each of the other three quarters.)
Already, almost 300 of your compatriots have signed up for this year’s edition of Minnebar, and many more will be as the week progresses. It’s free! That’s right — the whole damn thing! (thanks to the sponsors) … including breakfast, lunch, reception and beers following. You even get a free event t-shirt! And you can come and go as you please, choosing just the sessions that interest you — though I would highly recommend hanging out all day for the networking, which is really the biggest benefit. You can do your own session if you and/or some colleagues have something to say (and if there’s still room). Hit the link that says MinneBarSessions, click Edit Page, and add your title and session description while you still can. In the coming days, the organizers will be cutting off new entries and publishing a full schedule with all the breakout sessions. That should then be available at the event site, or you can pick up a hard copy on your arrival. Come early — the event kicks off at 8:30 am.

Attention Startups and Angels: Note the "Lightning Talks" Session
On the MInneBarSessions page, scroll down and look for a link to apply to give a five-minute pitch.  Ideal if you’re a startup, whether just forming or further along. An entire hour is being devoted to these rapid-fire presentations. This is a great way to see what’s going on out there in our state, hear the latest business concepts and startup ideas, or get updates on the progress of local startups you may have already heard about. [This will be like the DEMO conferences I know so well. My advice: hone the message hard, and practice well!] Minnebar07crowd

This event is gonna be killer, I promise you. If you want to know what’s really goin’ on in tech in Minnesota, you have to be here. Bring lots of business cards, a camera, your laptop (we’ll have mondo wi-fi!), wear your favorite tee, and get ready to learn, share, network, gab, blog and Twitter your brains out, and meet tons of fun, like-minded people.

Hey, in my book, it definitely beats sittin’ on some cold lake fishing!  🙂

For Innovation in Minnesota, Check Out ‘Minnov8’

April 22, 2008 / / 0 Comments

Here’s the first part of another post I did over at our new multi-author blog called Minnov8:

The
University of Minnesota is among the top patent producers in the world,
ranking #4 on Scientist Magazine’s list of “Patent Powerhouses,” behind
only three other major American universities. Yet, quantity of patents
hardly paints the entire picture. What about helping to start up
companies to commercialize those patents?

Uofmlogo

According to the U’s own business development people (see link to
Powerpoint presentation at bottom), the 20-year success record of the
U’s technology company spinoffs is only half
the university average nationally — and less than one-fourth the
success record of the nation’s premier schools. What’s more, in one
recent year (2004), for example, the U of MN spun off only one company
compared to 14 at the University of Michigan and 16 at the University
of Illinois. Why I am focusing here on spinoffs? Well, because,
according the U’s own business development people, creating university
spinoffs is “much more profitable than licensing (revenues)” to the
school.

And, besides, the largest source of the U’s licensing revenues will run out soon …. post continued here.

More on Best Buy VC News: Geek Squad Founder Speaks

April 2, 2008 / / 1 Comment

As a followup to my previous post about Best Buy planning to step up its corporate VC activity, I thought it would be good to get some additional perspective on this news. So, I sought out a couple of my contacts inside the company. Robertstephensgeeksquad
I couldn’t think of anyone better than Robert Stephens, founder of the Geek Squad, which was acquired by Best Buy about five years ago. (He was out on vacation last week when the news broke.) Robert still heads the Geek Squad — in an environment much different from his early days, but one he says he very much enjoys. And the business has expanded significantly. Robert’s a great guy, an entrepreneur’s entrepreneur. In fact, he was named the University of Minnesota’s Entrepreneur of the Year in 2007, and I blogged about the event where that was announced (the Minnesota Cup Awards), and about Robert’s excellent talk there.

I asked Robert two questions about the recent development at Best Buy:

Tech-Surf-Blog: What’s your take on the news about the formation of "Best Buy Capital"?   

Robert Stephens: This is just the most recent example of a trend that other companies like Intel, Google, and Yahoo have championed.  I think it offers another choice for the entrepreneur.  I chose not to take VC money or other investors because I did not want to see The Geek Squad bought and sold by people just looking for a financial transaction.  The Geek Squad chose to acquire Best Buy because we really help each other in a permanent way.  We help differentiate Best Buy, and we are able to use their size and resources in our quest for World Domination.

With all of the new web technologies and speed of software development, there are some hardware and software products that might be a better fit through partnership with a Best Buy rather than a traditional VC path. Choice is always good.

Tech-Surf-Blog: What does the new Best Buy Capital say about the importance of startup innovation to the company?

Robert Stephens: Well, either you drive innovation inside your company, or it will get driven for you by external market forces.  This new arrangement gives all of us inside the company more choices in how we develop ideas.  Coming from a startup of one person to a 140,000-person strong global company, change never seems as fast as it used to.  I’m all for this if it helps us try more ideas. 

Best Buy is kind of like Madonna.  You may not like her music, but you have to respect the fact that she knows her business, and rarely do pop stars stay on top as long as she has.  It’s the same in retail.  You must constantly re-invent yourself.  I don’t think people realize how dynamic Best buy is.  It’s why I chose them.

They were the first major retailer to pioneer the "grab and go".  First major retailer to develop the gift card.  First major retailer to go commission-free.  On and on.  Best Buy is also smart enough to know that they have to re-invent faster and faster.  You have a lot of choices on where you buy your stuff.  Sure, you might think, "I’ll just buy everything online".  That’s fine, but it’s not that simple.  Some of those new flat screens have to be seen when choosing.  You buy laptops now based on "look and feel".  Did you ever think that Dell would allow themselves to be sold inside a Best Buy?  This means that there are always going to be choices on how you innovate. It also means that trying to predict the future in a linear fashion is futile.  The key to is try a lot of things and fail as fast as possible.

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For more on Robert, see this recent interview in Fortune Small Business: Geek Squad’s Second Act.  And, for insight into the latest with the VC business, check out this article published last week in Wired: VCs Adjust to Facing More Competitors for Fewer Companies. In addition, I recapped recent VC industry developments in this post about a series of Forbes articles back in late January. Finally, I wrote a post a while back about the New Face of Venture Investing.

——-

I also got this reaction on the Best Buy Capital news from a source within Best Buy who would prefer to remain anonymous: "I’m not surprised. I think it’s a natural outgrowth of Best Buy’s internal environment of encouraging innovation through this kind of de facto process of allowing people to move ideas as long as they can prove their idea’s worth along the way. Cultivating new ideas, iterating them, and learning fast is one of the things that Best Buy excels at, actually. So, it just makes sense they would take this outside the walls of the company to do it for direct profit."

Thanks to both contacts, and I hope their comments provide further perspective for you on this story.

(Postcsript: I mentioned the Minnesota Cup above. This is an annual competition for entrepreneurs throughout the state, and the organization just announced its 2008 program. Details are at www.MinnesotaCup.org.)

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