Views of Web 2.0 2007

I was going back and discovered some pictures of my time in San Francisco Bay Area, in the heart of Silicon Valley. Living there was definitely a different experience than just visiting to go to conferences, there is a local culture and you could hardly notice the tech, if you weren't privy to it. I got to meet some really great people from all over the world either living in this tech hub or dropping in for a conference.

Mecanbe - Goal Sharing

Mecanbe is an interesting idea...declaring your goals within a social networking community. I can't get into the site for a trial run, but I must say anything that simplifies goal setting or a planning tool to "inspire change" could be useful. Being accountable these days of yourself is a challenge. We see many celebrities whom many use for role models letting us down time and time again. Mecanbe could be a place to promotes self worth and self achievement, absolving the need for characters in the media to whom we are bombarded to try and emulate.

I use a "Balanced Scorecard system" which is time consuming and often I don't use it in proper detail and care. Maybe I'll get the chance to try it once Mecanbe comes out of beta. I wonder if this is funded by any angels or other? Who are the founders? What is the mission? Why was this created? Is this just for corporations and businesses wishing to strengthen a team? What are the revenue models?

Watch Scouta TV

Get into the Web 2.0 scene,
watch Scouta TV

It is a laugh!!! I love it and am hooked.

1st Red

Little is known about 1st Red. Partrick Ng is the Founder and also owner of Global Dial. He is also a great friend and he has also managed to raise capital from wealthy individuals here in Perth. 1sr red is also in my angel portfolio. What is 1st Red?

"In a nutshell, we offer real time prize draw lotteries over the SMS mobile phone network.

1st Red winners can be notified by SMS or via the internet. At 1st Red we take privacy seriously, so our players’ details, transactions and other sensitive information is protected and encrypted.

So, where do you fit in? We’re giving Lottery Operators, Charity organisations, Media and marketing companies, telecommunication providers and consumer corporations, the chance to market our mobile gaming under your own branding, or in conjunction with our 1st Red branding. We can provide you with the IP protected software by licence, and you can market the product in a way that suits your business.

...Playing the lottery is as easy as sending an SMS.

At 1st Red, we have used the latest mobile phone technology to transform the best features of online gaming into a new form of entertainment – mobile gaming..."

1st Red’s Mobile SMS lottery systems integrates seamlessly with the web based lottery system.

What I like about this business idea is it's attempt to deliver new services to the mobile phone. Lottery and mobile gaming can be a potentially big area in Asia, where gambling for fun is as natural as noodle soup, not to mention Asia's love of the mobile phone.

Funds Drought Web Hopes in Australia???

TPN 2 Web Crew panel had some interesting points to talk about...

As an Entrepreneur during Web 1 and Web 2 waves, as well as having spent the most part of 2007 living in Silicon Valley and have angel invested in both Australian and US start ups, I have a few opinions of my own...

1. In comparison to the Silicon Valley climate, yes there is a "perceived" drought in Australia of Angel funding.

2. Why? There is a discrepancy between the mind set of the entrepreneur of instant riches likened to lotto and the conservatism of angel investors and private equity.

3. Centralization is about all Aussie Web 2.0ers not fragmenting us as a network, but focusing on what we do well and collaborating together. Just like the Entrepreneurs' Organisation I had the opportunity to be apart of for a number of years, could easily be modeled off

4. Silicon Valley is a club and a hub. It reminds me of Hollywood, we only hear of the exciting claims to fame, but rarely hear of the battles and losses.

I say a "perceived" drought. Maybe I need to expose just how start ups could raise cash. I have lived in the heart of Silicon Valley and have personally angel invested in both Australian and US Web 2.0 start ups. I must admit there is a huge difference in mentalities of a US Entrepreneur and an Australian one. Clay and I always talked about what Duncan was talking about $10k comp to fund ideas, but I have never heard of a US Silicon Valley VC or Angel investor giving the cash out without some stake in the idea. If anything it is more about "what's in it for me" in the US in terms of being an investor.

Clay and I are an example of handing over cheques way over $10k to two Australian start ups, without a blink of an eye lid and the two start ups we "just" handed money to are the ones that are really struggling.

We also can't forget that yes there is money being pumped into funds that Sequioa manages, Azure Capital and the like do the same, they just have harder targets to meet in a smaller market environment. Aussie start ups need to know the economies of where this money comes from and what returns the VC and angel investor are also being expected of.

Sure, go to the US and you may have a higher chance of being funded, but I think we fail to mention just how much competition there is in the Valley. I don't think anyone realizes just how many wannabes are there and how much of an opportunity it is in Australia to not have this fierce competition.