Friday, January 28, 2011

Help Making Money

A focal point of the effort, by some, to cast Wednesday’s “Together We Thrive” memorial to the victims of the Tucson mass shooting in a negative light has been the t-shirts that were distributed to the crowd. Businessman Kevin Wright, owner of Florida-based Thundershirts, sees the shirts in a different light, though. He’s selling copies of the “Together We Thrive: Tucson and America” shirts in an attempt to raise money for the victims, and getting hate mail for his trouble.



When I first saw Wright’s listing on eBay, I had the same cynical thought that many others obviously did, that the “portion of the proceeds” was probably a token sum, donated simply as a pretext to capitalize on the tragedy. The fact that Wright’s politically-themed shirts have a decidedly conservative slant seemed to add irony to the mix, as some conservatives have twisted themselves in knots to manufacture controversy over the real t-shirts.


The truth, as is often the case, is another matter. I contacted Wright, and he told me that, until he’s able to recoup some of the costs of the campaign, he’s donating $10 from the sale of each shirt to benefit the victims of the shootings, and coordinating his effort with the United Way of Tucson. Once those costs are recouped, he hopes to increase the amount by three to five dollars per shirt.


While Thundershirts specializes in custom sportswear, they also feature an extensive line of Christian-themed items, which Wright says has its genesis in the Columbine tragedy.


“We used the same kind of fundraising technique to raise tens of thousands of dollars for the Columbine victims.” Wright says. “We’re working with the established groups on the ground. The United Way is the big organization for community largess, but if they say (for example) that the Lutheran Council is taking the lead in distributing the funds, then the check may not actually be made out to the United Way. We’re focused on getting the funds directly to the victims, rather than have it siphoned off by bureaucracy.”


The reception, thus far, hasn’t been warm, according to Wright. “To be honest, I don’t know if we’re going to raise any money, it’s just been so ugly. You should see, my email box has been filled up with people saying ‘You’re sick! It’s Blood money!”


He responds to the criticism by saying, “If you can think of a better way to raise money for these people, you go knock yourself out! We’re just people that are hurting with this tragedy, praying for these people, and doing the best we can to get them some help in real time.”


Wright says he was conscious of people’s feelings as he researched the concept for his campaign. “You come up with an idea like this, and you don’t want to be in a situation where you’re making people’s grief worse. I think the President showed exactly the right tone, in exactly the right way, and for us to be reproducing this shirt, and offering it to a wider audience so people can participate in this on a national, or international basis, I think is the right tack to take on this. I mean, we’re not putting victims’ pictures out there.”


He also says he’s not trying to get rich doing this. “We expect to pay our rent, we expect to pay our employees, I don’t know if ‘profit’ is the word you would use. We’re performing a community service here. Going back to our Columbine campaign, I don’t think our accountants were happy with the quote-unquote profit that was made at the end of the day. The employees were paid, the expenses of the shop were paid. We really just wanted to share with people who want to share the message of healing.”


Wright really seems stung by the criticism he’s received, and reiterates that his critics  ought to put their money where their mouth is. “Again, if anyone out there has a better idea for how to raise money, I hope they do it. I would actually like to see a telethon.”


In fairness to those critics, his eBay listing is vague about the amount being donated, and the idea of reproducing the memorial shirts is certainly open to varying standards of taste. Much as is true with the original shirts themselves, though, you can question their tastefulness, but it seems unfair to question the intent behind them. If you’re not giving directly to a charity, maybe you ought to buy one of Wright’s shirts, and maybe one for Michelle Malkin, too.


The University of Arizona, meanwhile, has said that there are only a few of the original shirts left, which they will give to victims’ friends and families, and that there are no plans to make more.

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We’ve waxed poetic a time or two about how RunKeeper is one of the best fitness apps available today. In order to help people with those new year’s resolutions, RunKeeper started a promotion where you could download the app for free. After seeing a massive amount of downloads, it seems that the team behind RunKeeper was actually testing the idea of keeping the app free.


On the RunKeeper blog, CEO Jason Jacobs talks about the promotion and the results that came from it:


Based on what we have learned in the last month, and based on our long-term goal of building the biggest most engaged community of users that we can (who get the best fitness results in the process), it became clear what we needed to do. We are pleased to announce that, as of today, RunKeeper Pro will continue to be a FREE download!


Not to worry, though. RunKeeper will still be making its money. On top of the fact that other companies have built RunKeeper into running-related products, there will be a public API that will no doubt lead to more partnerships down the road. Oh, and there’s also the RunKeeper Elite program, which provides advanced alerts live streaming and advanced reports.


So what’s next for RunKeeper? On top of simply building a massive user base and community, it seems that Jacobs has bigger plans. In an interview with TNW’s Courtney Boyd Myers, Jacobs states:


Healthy living has always been important to me. Looking towards the future of fitness and technology, I believe sensors will proliferate so that more and more interesting data will be collected in a frictionless way. Just by doing your activities there’s more you can learn about those activities. And when you have that information, you can be more proactive in making changes to improve your performance


We’re excited about the direction that RunKeeper has taken. While we’re generally not fans of “we’ll figure out the money later”, RunKeeper seems to have enough steam behind it to stay in the race, so to speak.







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Wednesday, January 26, 2011

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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

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Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

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Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.



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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

Bludgeoned with delays and rumors of its demise before it even launched, The Daily's set to launch in two weeks according to News Corp's son-of-Rupert, James Murdoch. The app, which Steve Jobs supposedly helped develop, will cost 99c ...

Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

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Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.



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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

Bludgeoned with delays and rumors of its demise before it even launched, The Daily's set to launch in two weeks according to News Corp's son-of-Rupert, James Murdoch. The app, which Steve Jobs supposedly helped develop, will cost 99c ...

Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

The details come just as Pennsylvania struggles to calculate its bill for cleaning up the Chesapeake Bay. In all the hand-wringing and cost-crunching that followed the Dec. 29 news that Pennsylvania must...

American Tourist&#39;s Murder Case Solved? « Liveshots

Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.



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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

Bludgeoned with delays and rumors of its demise before it even launched, The Daily's set to launch in two weeks according to News Corp's son-of-Rupert, James Murdoch. The app, which Steve Jobs supposedly helped develop, will cost 99c ...

Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

The details come just as Pennsylvania struggles to calculate its bill for cleaning up the Chesapeake Bay. In all the hand-wringing and cost-crunching that followed the Dec. 29 news that Pennsylvania must...

American Tourist&#39;s Murder Case Solved? « Liveshots

Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.



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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

Bludgeoned with delays and rumors of its demise before it even launched, The Daily's set to launch in two weeks according to News Corp's son-of-Rupert, James Murdoch. The app, which Steve Jobs supposedly helped develop, will cost 99c ...

Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

The details come just as Pennsylvania struggles to calculate its bill for cleaning up the Chesapeake Bay. In all the hand-wringing and cost-crunching that followed the Dec. 29 news that Pennsylvania must...

American Tourist&#39;s Murder Case Solved? « Liveshots

Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.



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<b>News</b> Corp&#39;s The Daily iPad Newspaper Will Cost $1 a Week

Bludgeoned with delays and rumors of its demise before it even launched, The Daily's set to launch in two weeks according to News Corp's son-of-Rupert, James Murdoch. The app, which Steve Jobs supposedly helped develop, will cost 99c ...

Chesapeake Bay, Marcellus Shale environmental issues could collide <b>...</b>

The details come just as Pennsylvania struggles to calculate its bill for cleaning up the Chesapeake Bay. In all the hand-wringing and cost-crunching that followed the Dec. 29 news that Pennsylvania must...

American Tourist&#39;s Murder Case Solved? « Liveshots

Israeli police have lifted a gag order Wednesday on the arrest of a Palestinian criminal cell.

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Read our PlayStation 3 news of Black Ops PS3 patch has Xbox Live error.

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iLounge news discussing the SpeechTrans adds Facebook Voice Translation Chat. Find more Apps + Games news from leading independent iPod, iPhone, and iPad site.


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Guestview: Editorial independence and an ecumenical <b>news</b> agency <b>...</b>

The ecumenical news agency ENInews has been scaled back and may face more cuts as its budget shrinks.

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The ecumenical news agency ENInews has been scaled back and may face more cuts as its budget shrinks.

Black Ops PS3 patch has Xbox Live error PlayStation 3 <b>News</b> - Page <b>...</b>

Read our PlayStation 3 news of Black Ops PS3 patch has Xbox Live error.

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The ecumenical news agency ENInews has been scaled back and may face more cuts as its budget shrinks.

Black Ops PS3 patch has Xbox Live error PlayStation 3 <b>News</b> - Page <b>...</b>

Read our PlayStation 3 news of Black Ops PS3 patch has Xbox Live error.

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Another Facebook change, another privacy uproar. Read the headlines and you might have thought the social network was planning to open the books on private cellphone numbers and home addresses to any advertiser willing to slip them some cash, rather than adding some more sharing options along with the usual granular control over who gets to see what of your digital details. Unsurprisingly Facebook froze its plans pending a reassessment of its privacy controls; unfortunately, nobody is taking Facebook users – and the online community in general – to task over taking some responsibility for what they share.




If you haven’t been following the story, here’s the situation in a nutshell. Facebook announced on Friday that it was planning to add address and mobile number to the personal information that could be shared with applications, websites and advertisers. As with other personal details, the degree to which that data was accessible would be managed under each user’s permissions settings: everything from a come-and-get-me open pipe to a complete block on anything being revealed. Facebook billed it as a way to “easily share your address and mobile phone with a shopping site to streamline the checkout process, or sign up for up-to-the-minute alerts on special deals directly to your mobile phone.”


Don’t get me wrong; I’m under no illusion that Facebook is doing this for altruistic reasons. Making online purchases quicker is undoubtedly handy to those who actually click through Facebook adverts, but for the social network itself it’s all about making money from its most valuable asset: its millions of registered users. Just like with a free newspaper, Facebook makes its money by showing you adverts, and it can use your personal information to tailor those ads more appropriately. Access to personal contact details, meanwhile, is even more valuable.


However, just because there’s profit to be made for Facebook, it doesn’t mean this is either bad for the user or a sign of Evil Big Business taking advantage of the general public. We manage the degrees to which we disclose personal information all the time, long before Facebook arrived and gave us a simple privacy settings page to work with. Every time you avoid giving your phone number to a door-to-door charity worker, tick the no-junk-mail box on a bank form or refuse to give your address to someone you just met at a bar, you’re exercising your own, personal privacy filter.


Perhaps I’m being unfair. After all, it only takes a quick glance at sites like Lamebook (often NSFW) to see that many Facebook users have problems with over-sharing, accidentally making public posts out of what were meant to be private messages, and generally forgetting who out of their friends and family can read what they’re saying. Maybe Facebook does have some intrinsic responsibility to shepherd its members through the difficult journey that is online life; perhaps the privacy pages really won’t be complete until there’s color coding, pop-up warnings and a virtual cash register showing just how much you’ve lined Mark Zuckerberg’s pocket.


This constant push-me-pull-me with Facebook does users no favours. Every time the privacy patrol scream, and Facebook backtracks, it reinforces the idea that the site itself is solely responsible – should be responsible – for making safe use of the information we share online. Don’t get me wrong, if Facebook was looking to sneak in a “we can sell your identify” clause into the T&Cs, that’s something worth shouting about. When, though, we muster the same amount of vitriol for sharing options that already have safeguards – safeguards that satisfactorily protect our email address and other details – it looks more like abdication of responsibility. We want to trust Facebook do “do the right thing” – based on our own interpretation of what “the right thing” is, exactly – so that we won’t have to. We can spend our time looking up old crushes, posting photos of ourselves looking fierce in clubs, and commenting on videos of cats.


Privacy is important, but the responsibility begins at the individual level. Just as you don’t hand out your address to strangers in the street, maybe giving it to every website that asks isn’t all that sensible either. Relying on other people, or companies, to protect us universally is a naivety we abandon before adulthood in the real world, yet something many seem determined to cling to online. That’s before you get to the thorny issue of lost or stolen data. In the end, it’s your life, your number, your face: it’s up to you whether it’s an open book.







Let me repost this.


http://www.sacbee.com/2011/01/09/3310523/anatomy-of-browns-budget-plan.html


Anatomy of Brown's budget plan


The budget Jerry Brown will propose Monday includes deep program cuts, a June election to extend tax increases and a broad reordering of state and local government to close a deficit estimated at $25 billion to $28 billion, according to sources familiar with the plan. Here are some of the elements:


PROGRAM CUTS


Brown's proposed cuts would be felt throughout state government.


• Education: Provide K-12 schools with Proposition 98 minimum guaranteed funding. If June tax extensions fail, the guarantee would be suspended to allow deeper cuts.


• Higher education: Make deep cuts to both UC and CSU systems, in ways targeted to minimize fee hikes and enrollment reductions.


• State employees: Reduce spending in the six bargaining units that have not reached contract agreements, with savings similar to the 8 percent to 10 percent to which other units agreed.


• State organization: Consolidate some state departments and agencies.


• Governor's Office: Reduce budget by 25 percent ($7 million), including elimination of education secretary, Cabinet secretaries and first lady's staff.


• Parks: Shut state parks with lowest attendance.


• Libraries: Cut state funding for local libraries.


• Medi-Cal: Require patients to provide co-payments for services, limit doctor visits and reduce rates paid to health providers.


• Healthy Families: Increase participant premiums and co-pays, eliminate vision care.


• Welfare: Cut grants, impose stricter time limits on recipients getting grants, eliminate child care for 11- and 12-year-olds.


• SSI-SSP: Cut grants to the federal minimum for low-income elderly, blind and disabled individuals in the program.


• In-home care: Reduce the number of hours In-Home Supportive Services workers could care for elderly and disabled residents, cut domestic services like cleaning and laundry in cases in which caregivers live in the same home as recipients, typically family members.


• Developmental services: Make deep cuts to the system of 21 regional centers that oversee care for the developmentally disabled.


• Mental health: Use voter-approved Proposition 63 money to replace general fund money now spent on mental health.


• Children's programs: Ask voters to amend Proposition 10 to allow the state to use tobacco tax money now reserved for use by "First 5" commissions.


• Foster care: Eliminate transitional housing aid for 18- and 19-year-olds.


• Cal Fire: Reduce staffing on wildfires.


• Courts: Deep unallocated reduction to trial courts.


• Fairs: Cut all state funding for county fairs.


• AIDS: Require higher co-payments for AIDS drugs.


REVENUE


Brown will propose a variety of measures to increase revenue, in some cases directing the money to local governments.


Taxes: Ask voters in June to extend 2009 increases to sales, vehicle and income taxes, raising $8 billion to $10 billion over 18 months. If approved by voters, the revenue from extensions of the vehicle and sales taxes would flow to local governments to help finance government realignment.


• Dependents: Indefinitely extend the $99-per-dependent tax credit. The credit was lowered from $309 per dependent in 2008.


• Enterprise zones: Eliminate business tax relief in depressed areas that have been designated as enterprise zones, saving the general fund hundreds of millions of dollars.


• Redevelopment: Eliminate hundreds of local redevelopment agencies, eventually redirecting property tax revenue they receive to cities, counties and schools.


• Borrowing: Continue borrowing from special funds and take a portion of Indian gambling revenue to general fund.


• Corporations: Require all multistate businesses to calculate their tax liability solely on their sales in California. Businesses could no longer use an old formula that accounted for property and payroll size.


• Transportation: Use truck weight fees for debt service on state transportation bonds, circumventing Proposition 22's restrictions on taking local transportation dollars.


REALIGNMENT


Brown will propose several plans to shift programs to local governments.


• Juveniles: Eliminate the state Division of Juvenile Justice, instead sending money to local governments to house juvenile offenders.


• Adult prisoners: Low-level, nonviolent, non-sex offenders without serious prior convictions would be housed in county jails. Money would be sent to local governments to increase jail capacity and bolster rehabilitation programs.


• Mandates: Reduce the number of services local governments are required to provide and perhaps give them greater latitude to raise revenue to pay for them.


 


And this


http://globaleconomicanalysis.blogspot.com/2011/01/california-budget-bal...


California Budget Balancer Interactive Map from LA Times Misses the Mark

I just took the interactive LA Times California Budget Balancer exercise.


I vehemently protest.


This was a blatant effort to force people into accepting a need to raise taxes. To balance the budget I made every possible program cut offered. It was not enough. To balance the budget I had to raise sin taxes and gas taxes.


There are worse solutions of course, like hiking income taxes or corporate income taxes.


Exercise Misses the Mark



  • Where was a proposal to privatize the prison system using non-union labor?

  • Where was the proposal to eliminate prevailing wage laws?

  • Where was the proposal to eliminate defined benefit plans for all government workers?

  • Where was the proposal to virtually privatize every conceivable government job to the private sector?

  • What about programs that could be eliminated entirely?


California Agencies


Look at this disgusting list of California Agencies.


I sorted out some but not all of the more ridiculous ones.


Does the state need a ....



  • Acupuncture Department

  • Office of AIDs

  • Air Research Board

  • 3 different agencies for alcohol and beverages

  • 2 Apprenticeship Councils

  • Art Council

  • Asian Pacific Islander Legislative Caucus

  • Bureau of Automotive repair

  • Barbering board

  • Biodiversity council

  • Calvet Loan program

  • Climate Change Portal

  • Coastal Commission

  • Cool California

  • 4 Delta agencies

  • Digital Library

  • Bureau of Electronic and Appliance Repair

  • Employment Training Panel

  • Energy Commission

  • Equalization Board

  • 2 Fair Employment agencies

  • Film Commission

  • Flex Your Power

  • Healthy Family Program

  • Hearing Aid Dispensers Bureau

  • Home Furnishings Bureau

  • Humanities Council

  • Independent Living Council

  • Indoor Air Quality Program

  • Economic Development Bank

  • Interagency Ecological Program

  • Labor and Workforce Development

  • Latino Legislative Caucus

  • Learn California

  • Little Hoover Commission

  • Maritime Academy

  • Managed Risk Board

  • Museum for History

  • MyCali Youth Portal

  • Native Heritage Association

  • Natural Community Planning Program

  • Naturopathic Medicine Community

  • Outreach

  • Peace Officer Standards Board

  • Postsecondary Education Commission

  • Prison Industry Authority

  • Privacy Protection Office

  • Psychology Board

  • Railroad Museum

  • Recovery Task Force

  • Refugee Branch

  • Regents of the U of C

  • Save Our Water commission

  • Smart Growth Caucus

  • Status of Women Commission

  • Take Charge California

  • We Connect

  • Wetlands Information System

  • Workforce Investment Board


California does not need ANY of those. Moreover I assure you I missed dozens more that could be cut back if not eliminated entirely. What the heck do those cost? And how much can be saved by my suggestions above.


I propose the LA Times re-do their preposterous exercise meant to convey the idea that taxes have to be raised. They don't. In fact, I bet they could be lowered.


Here is the LA Times Discussion Thread on California Budget Balancer


For more ideas on how to Fight California Tax Hikes please visit the Howard Jarvis Taxpayers Association


Mike "Mish" Shedlock


 


And this


http://www.latimes.com/news/local/la-me-chowchilla-20110107,0,4007963.story


San Joaquin Valley's Chowchilla defaults on a bond

And finally this


http://www.huffingtonpost.com/2011/01/07/in-black-america-the-depression...


In Black America, The Depression Rolls On...

A deeper dive past the headline numbers reveals a reality that ought to trigger national alarm but hasn't for the simple reason that it is already embedded in the country we have unfortunately become: the Divided States of America.


Among white people, the unemployment rate dropped in December to 8.5 percent -- hardly acceptable, but manageable were the government spending more to expand a fraying social safety net and generate jobs. For black Americans, the unemployment rate was 15.8 percent.


Professional economists will not pause for an instant at those figures. It is a truism that the black unemployment rate generally runs double the white one, and yet when did that become acceptable? How can there be so little discussion about a full-blown epidemic of joblessness in the African-American community, as if the commonplace incidence of despair -- and, more recently, reversed progress -- somehow amounts to old news?


"Can you imagine any other group at that level of unemployment and the media dismissing it as not important?" the Rev. Jesse Jackson asked during an interview this week.


He described deteriorating inner-city, predominantly-black communities in Chicago and Detroit. In New York, a recent study found that more than one-third of African-American men aged 16 to 24 were unemployed between early 2009 and the middle of last year.


"These are the same areas that were targeted for foreclosure by the banks, through reverse redlining," Jackson said, referring to the way subprime lending operations preyed with particular dispatch on minority communities. "These are the same areas that have less access to transportation, which makes it nearly impossible to get to where the jobs are. You are structurally locked out of economic participation and growth." blockquote .mid_article_ad_label { border: 1px solid rgb(221, 221, 221); }Advertisement

The picture becomes more vivid still using a broader Labor Department measure known as underemployment, which counts jobless people along with those who are working part-time for lack of full-time work, or who have given up looking for work but are eager for jobs. Among African-Americans, the underemployment rate was running just under 25 percent late last year, according to an analysis of government data by the Economic Policy Institute in Washington. That compared to a rate of about 15 percent for white Americans.


( I know someone is going to bitch about linking instead of posting the whole fucking thing. So I saved you the trouble, now just comment on the fucking trends you see in the stories.)



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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

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Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

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Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

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The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

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Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


bench craft company reviews bench craft company reviews

Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


bench craft company reviews bench craft company reviews

Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...


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Arcus - Esri - The GIS Software Leader | Mapping Software and Data

Aaron Sorkin&#39;s Cable <b>News</b> Network Project Awaits Greenlight At HBO <b>...</b>

For the past few months, HBO has been talking to Aaron Sorkin about his long-gestating drama set behind the scenes at a nightly cable news show. However, with him busy on the awards circuit with his latest film, The Social Network, ...

Why Fox <b>News</b> Should Hire Keith Olbermann When His Non-Compete <b>...</b>

The traditional broadcast news divisions? NBC's out, and of the other two, one's owned by Disney, and at the other one Dan Rather attacking George Bush was too controversial. Olbermann is an incendiary Rather hopped up on ego and ...

Tuesday, January 18, 2011

Being Right or Making Money









What made this project so successful? After all, there are other iPod Nano projects. And it's a wristwatch, which even with the addition of a Nano, might not be the coolest or most necessary of accessories.



Bryce Roberts, the Managing Director of O'Reilly AlphaTech Ventures, points to some reasons he's identified that contributed to the success of the Lunatik/TikTok fundraising endeavor. These lessons that can be seen in other successful Kickstarter projects (such as Diaspora), but they're also applicable in many ways to more "traditional" funding efforts.



Tell a personal story



The Lunatik/TikTok "pitch" wasn't a bulleted list of qualifications or clients. Rather, the members of the team "told personal stories that created a connection to the project that had nothing to do with their professional pedigree." While this sort of storytelling doesn't boost their professional credentials, Roberts argues, it does give the entrepreneurs a certain personal authority and helps to connect them to funders and potential funders in a different way.



Roberts argues that the best fundraising pitches always emphasize this personal aspect. "It's a given," he writes, "that if I chose to invest in you I believe I can make money, but there are the intangibles around personality, perspectives, and life experiences that will make a potential funder more likely to want to believe you."



Tell the product's story



If you watch the TikTok video (below), you'll see the product is featured throughout. This demonstrates what the product can do - and that it can do what the startup promises. The video also demonstrates the larger potential of the product. These might be "small, nice little features" that some investors would dismiss. But with the crowdfunding model, the right storytelling around this seems crucial. "The difference between a nano strapped to a wristband and a premium quality, highly designed, customizable piece of wearable technology is simply a matter of how you tell the story."



But even when you aren't using a site like Kickstarter to raise money, it's crucial that your product be front-and-center in your presentations.



Give rewards and issue progress reports



Investors, by definition, invest in order to make a financial return. Nonetheless, argues Roberts, you should offer more than simply the promise of "making money." These sorts of non-financial rewards can be personal and personalized. By design, Kickstarter tells its users, "the best way to inspire support is to offer people great rewards. Everyone loves limited editions, one-of-a-kinds, and fun experiences (parties, screenings, balloon rides!). Spend some time brainstorming your rewards and people will respond. No one needs another coffee mug."



And as your project and your company are constantly evolving, it's good to keep investors and potential investors up-to-date on your progress. In the case of TikTok, the creators even filmed themselves in China when they traveled to the factory where the watch kits were being made. But the same could be said for all funding relationships; keep your investors apprised of "how you're making progress and how your story is continuing to unfold in a big and important way."



The result is a bunch of excess inventory and poorly thought-out construction projects which have no means of recouping the initial investment needed to repay the bank loans.

This practice is similar to Spain`s situation now where they have entire uninhabited building complexes that have yet to be marked to market, and will probably ultimately be demolished. But at least in Spain, even though it was a construction boom, it was engineered by developers in Spain, and not by some manufacturing outfits like those in China.

So, multiply the bad business project factor by ten and you get an understanding of the magnitude of bad loans on the books of Chinese banks. The problem is being further exacerbated by the practice similar to Spain`s of banks making additional loans to the businesses just so that they can then turnaround and pay back the interest owed on the original loans.

The only way this would work out is if these projects magically develop revenue streams. Unfortunately, in the case of Spain, a 20% unemployment rate, coupled with a still overvalued housing market in which prices still need to come down significantly, would suggest that by the time the Spanish economy recovers enough to support the excess inventory, the abandoned projects are run down and uninhabitable.

A similar scenario could play out in China as well.

True Smart Money Wary of the Write-off Domino 

Furthermore, China`s practice of overbuilding at the height of real estate valuations makes even haircuts on loan write-offs an untenable practice for banks, and by further throwing good money after bad, the ultimate mark- to-market effect could be catastrophic for Chinese Banks.

This is the main reason all the major Chinese banks have gone to the market in 2010 to raise more capital before investors wise up to the underlying deficits these banks face, as these bad loans eventually would need to be written off the books.

Victor Shih, a Northwestern University professor estimates that Chinese local governments borrowed some 11.4 trillion renminbi at the end of 2009, and that local government financing loans to be roughly one-third of China's 2009 GDP. 

Shih reckons the most likely scenario over the next few years is that there would be increases of non-performing loans ratio from local governments. This would require a large scale of recapitalization of the Chinese banking system, which would eat up a large share of China's foreign exchange reserves and possibly slow down growth.

I do believe Beijing is quite capable of  a few bailouts and surviving a widespread banking crisis, but this most definitely will not bode well for the financial markets.  That's most likely why you see insiders removing capital from direct exposure to the inevitable re-pricing that will happen throughout Chinese markets from real estate to the stock market. 

This can be seen at this early stage by the underperformance of the Chinese stock market compared to other global markets. Remember, foreigners cannot invest directly in these markets, so these capital outflows are truly the smart money.

Logistic Gridlock Crimping the Middle Class

Next let`s look at the recent news regarding a severe cutback in automobile registrations in Beijing to 240,000 in 2011 from 700,000 registered in 2010 by the municipal government. Other large cities in China are bound to follow. This is most likely related to the reported 9-day traffic jam on the Beijing-Tibet expressway in August, and other extended traffic jams throughout China in 2010.

China is trying to build infrastructure projects after the fact; whereas with proper central planning these should have been established far ahead of the massive transition from a rural, agricultural based populous to that of a modern, large city based business and manufacturing concentration.

Simply put, it is impossible for all the Chinese citizens who want and can afford automobiles to be able to own and utilize this form of transport without a total breakdown in the transportation system. We are seeing the early stages of complete and counterproductive gridlock in the transportation system of China, and it is only going to get worse over the next decade.

No Jobs for College Grads

For all the talk about how China graduates more engineers each year, and other college educated young people who have strong backgrounds in the hard sciences than most developed nations combined, this is actually another sign of problems to come over the next decade in China.

China`s wealth and emergence into the second largest business economy hasn`t been built around the need for these types of mind and skill set. So literally you have a large mismatch between the types of available jobs in China, that are supported by the heavy manufacturing and construction intensive focus of the past twenty years, to that of the recently educated pool of graduates who have grown in sizable numbers over the past five years.

The Mind Is A Terrible Thing To Waste

This results in a large human asset class that China is currently wasting, as most of the newly educated workforce is working in jobs which require little or no advanced education at the university level. So you have highly educated university graduates in areas like engineering and accounting working low level service and sales jobs that pay less than many manufacturing jobs.

In short, there are too many highly educated Chinese citizens graduating each year for the number of jobs available needing their skill set because China`s economic model isn`t built around these type of jobs. This type of misaligned employment outcomes never ends well; it usually manifests itself in increased civil and social unrest.

8% Inflation in 2011

The next major challenge for China is a skyrocketing inflation, which at its root is the fact that there are too many people chasing too few resources. This fundamental flaw in population dynamics underpins many of the problems that China faces going forward.

Recent CPI data for November illustrates the inflation problem in China with a reading of 5.1% from a year ago comparison, this is up from a 4.4% reading for the previous month. Couple this with the latest 4% hike in fuel prices in China because of rising oil prices, you could expect future CPI and PPI reports to reflect even higher rates of inflation.

For now, most of the year over year spike has revolved around higher food prices as energy has mainly been flat for 2010 thanks mostly to government subsidies. Now that energy prices have entered the picture, China will start to experience even more inflation pressures in 2011. 

Furthermore, with the undervalued yuan pegged to the dollar, it is only getting worse for China in 2011 due to Fed's QE2 pressures on the dollar.  The real inflation rate for Chinese citizens for 2011 will probably approach 8% next year.

An Asian Contagion by China?

This escalating inflation concern is further compounded by Beijing's lack of decisive action to combat the problem by delaying a much needed currency appreciation, and hiking interest rates in a timely fashion. There is no getting around the fact that these two things need to occur as soon as possible.

By the time the Chinese government is forced to implement these tightening tools, the damage to the economy is most likely already done. The longer China delays the inevitable serious tightening measures, the harder the economic crash that will occur in the aftermath of these policy changes. And it is unlikely to end well. The resultant impact will probably take the rest of the Asian economies down with it – an Asian Contagion scenario.

History Repeats Itself

Eventually central planners and finance ministers around the world might start to understand that policies which lead to bubbles being formed in the first place are counterproductive in the long run. But until that lesson is learned, it seems like we are doomed to repeat the same mistakes over and over again.

Right now, there are more and more signs coming out of China that all is not well with its economy, and the likelihood of a more severe downturn in the future is a distinct possibility, unless its policy makers take decisive and prudent actions to minimize the damage of a hard landing.    


Dian L. Chu, Dec. 25, 2010 | Mobile Reader, Website | Google Profile
Source:http://removeripoffreports.net/

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Friday, January 14, 2011

Being Right or Making Money


GroupMe, a service that lets users start a group chat using text messages, announced today that it has raised $10.6 million in its second round of funding — but it won’t be generating any kind of revenue any time soon.


The startup lets phone owners create a single phone number for a group chat. Whenever anyone sends a text message to that number, it’s sent out to everyone else in the group. It works for conference calls as well — anyone can dial into the number and start a group chat.


The first version of GroupMe was built over a weekend in May during a hackathon, a type of programming contest which challenges developers to swiftly create a working Web service, sponsored by TechCrunch, the technology blog now owned by AOL. Its creators famously drew offers for funding as soon as they left the stage.


GroupMe is built on top of a service provided by Twilio, a San Francisco-based startup which provides easy access to voice and text-messaging services which might otherwise be out of reach to small companies. Twilio has seen projects that use telephones to do anything from play tic-tac-toe to initiate group text messaging, has been particularly popular and even has its own seed funding program to go with it.


Right now, GroupMe doesn’t even generate any revenue — the service is completely free for users. Twilio, on the other hand, charges two cents to send or receive a text message, with potential volume discounts. Whatever GroupMe’s paying Twilio, it’s a cost that GroupMe appears to be bearing on its own for now. The development group doesn’t have any plans to try to develop a revenue-generating model in the near future. GroupMe has a few ideas like creating sponsored texting groups and brand groups. But that’s all they are for the time being — just ideas — said co-founder Jared Hecht.


“We compressed our 18-month road map into 9 months and we’re still finishing that up before we even consider thinking about revenue,” he said. “Obviously we are not focused on generating revenue right now.”


That didn’t stop Khosla Ventures or any of its other investors from throwing some cash their way. The group raised $850,000 in its first seed round of fundraising from the likes of Ron Conway’s SV Angel and Lerner Ventures. The most recent round of funding was led by Khosla Ventures, General Catalyst Partners and First Round Capital.


GroupMe brought on some pretty heavy-duty talent along with the funding as well. Jeremy Schoenherr, a former developer of Hot Potato and iPhone operating system iOS development expert, has come on board to help develop GroupMe’s mobile applications. Steve Cheney, a former writer with TechCrunch, also joined the team as a business development consultant.


Now that the “distracting” fundraising process is done and the company doesn’t have to worry about making any money for a while, it is turning its entire focus on improving the application, Hecht said.


“Now it’s product time, and it’s buckling down and spinning it out before we even consider finding a revenue,” he said.


Next Story: Access 360 Media raises $40 million-plus for outdoor digital advertising Previous Story: Gadgets galore! Consumer electronics to outpace world economy in 2011






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Vice President Biden to Pakistan: Fight Extremism or Be 'Consumed' By It


January 12, 2011 8:17 AM








ABC News’ Nick Schifrin and Karen Travers report: Vice President Joe Biden made an unannounced trip to Pakistan today to try and push government and military leaders to crack down on militants and shore up a shaky economy.


Biden delivered that message in private and in public, one week after a prominent politician was assassinated and crowds across the country celebrated his killer.


“Societies that tolerate such actions wind up being consumed by those actions,” Biden said to the media in prepared remarks.


Biden was in the country for only about 6 hours and did not meet any Pakistanis who do not work in the government or military. He traveled by motorcade under extraordinary security from the airport to the U.S. embassy, then onto the Presidential palace, the prime minister’s residence, and the military’s headquarters before departing for an unannounced destination.‬


He had arrived in Pakistan from Afghanistan, where he spent a day and a half in three different provinces, meeting with President Hamid Karzai, U.S. troops, and U.S. diplomats in a trip that was far more extensive than the one he made to Pakistan.


In Afghanistan, Biden said the United States military needed more help from Pakistan if it was going to permanently push out the Taliban.


“It’s going to require more pressure -- more pressure on the Taliban, from Pakistan’s side of the border, than we’ve been -- we’ve been able to exert so far,” Biden said in a statement delivered next to Afghan President Hamid Karzai.


After his arrival in Islamabad, Biden traveled to the U.S. embassy, where he met with American officials, including the new U.S. ambassador to Pakistan, Cameron Munter. He later sat down with Pakistani President Zadari at the presidential palace.


The press was allowed to observe the beginning of their meeting, when Biden joked with Zardari, whom he has known for years.


“We should act like we know each other,” the vice president quipped. “I’ve known the president long enough that I used to have hair.”


“Is he making fun of me?” Zadari asked.


Biden laughed and ran his hand over his thinning hair and asked a Pakistani official, “What are you laughing at?”






January 12, 2011

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Thursday, January 13, 2011

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The PGA recently inked a deal with SilverRock making it one of the host courses for the annual Bob Hope Chrysler Classic. So not only is the course, scenic and challenging while playing you can imagine yourself teeing it with Tiger and Phil.

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Monday, January 10, 2011

Being Right or Making Money

The result is a bunch of excess inventory and poorly thought-out construction projects which have no means of recouping the initial investment needed to repay the bank loans.

This practice is similar to Spain`s situation now where they have entire uninhabited building complexes that have yet to be marked to market, and will probably ultimately be demolished. But at least in Spain, even though it was a construction boom, it was engineered by developers in Spain, and not by some manufacturing outfits like those in China.

So, multiply the bad business project factor by ten and you get an understanding of the magnitude of bad loans on the books of Chinese banks. The problem is being further exacerbated by the practice similar to Spain`s of banks making additional loans to the businesses just so that they can then turnaround and pay back the interest owed on the original loans.

The only way this would work out is if these projects magically develop revenue streams. Unfortunately, in the case of Spain, a 20% unemployment rate, coupled with a still overvalued housing market in which prices still need to come down significantly, would suggest that by the time the Spanish economy recovers enough to support the excess inventory, the abandoned projects are run down and uninhabitable.

A similar scenario could play out in China as well.

True Smart Money Wary of the Write-off Domino 

Furthermore, China`s practice of overbuilding at the height of real estate valuations makes even haircuts on loan write-offs an untenable practice for banks, and by further throwing good money after bad, the ultimate mark- to-market effect could be catastrophic for Chinese Banks.

This is the main reason all the major Chinese banks have gone to the market in 2010 to raise more capital before investors wise up to the underlying deficits these banks face, as these bad loans eventually would need to be written off the books.

Victor Shih, a Northwestern University professor estimates that Chinese local governments borrowed some 11.4 trillion renminbi at the end of 2009, and that local government financing loans to be roughly one-third of China's 2009 GDP. 

Shih reckons the most likely scenario over the next few years is that there would be increases of non-performing loans ratio from local governments. This would require a large scale of recapitalization of the Chinese banking system, which would eat up a large share of China's foreign exchange reserves and possibly slow down growth.

I do believe Beijing is quite capable of  a few bailouts and surviving a widespread banking crisis, but this most definitely will not bode well for the financial markets.  That's most likely why you see insiders removing capital from direct exposure to the inevitable re-pricing that will happen throughout Chinese markets from real estate to the stock market. 

This can be seen at this early stage by the underperformance of the Chinese stock market compared to other global markets. Remember, foreigners cannot invest directly in these markets, so these capital outflows are truly the smart money.

Logistic Gridlock Crimping the Middle Class

Next let`s look at the recent news regarding a severe cutback in automobile registrations in Beijing to 240,000 in 2011 from 700,000 registered in 2010 by the municipal government. Other large cities in China are bound to follow. This is most likely related to the reported 9-day traffic jam on the Beijing-Tibet expressway in August, and other extended traffic jams throughout China in 2010.

China is trying to build infrastructure projects after the fact; whereas with proper central planning these should have been established far ahead of the massive transition from a rural, agricultural based populous to that of a modern, large city based business and manufacturing concentration.

Simply put, it is impossible for all the Chinese citizens who want and can afford automobiles to be able to own and utilize this form of transport without a total breakdown in the transportation system. We are seeing the early stages of complete and counterproductive gridlock in the transportation system of China, and it is only going to get worse over the next decade.

No Jobs for College Grads

For all the talk about how China graduates more engineers each year, and other college educated young people who have strong backgrounds in the hard sciences than most developed nations combined, this is actually another sign of problems to come over the next decade in China.

China`s wealth and emergence into the second largest business economy hasn`t been built around the need for these types of mind and skill set. So literally you have a large mismatch between the types of available jobs in China, that are supported by the heavy manufacturing and construction intensive focus of the past twenty years, to that of the recently educated pool of graduates who have grown in sizable numbers over the past five years.

The Mind Is A Terrible Thing To Waste

This results in a large human asset class that China is currently wasting, as most of the newly educated workforce is working in jobs which require little or no advanced education at the university level. So you have highly educated university graduates in areas like engineering and accounting working low level service and sales jobs that pay less than many manufacturing jobs.

In short, there are too many highly educated Chinese citizens graduating each year for the number of jobs available needing their skill set because China`s economic model isn`t built around these type of jobs. This type of misaligned employment outcomes never ends well; it usually manifests itself in increased civil and social unrest.

8% Inflation in 2011

The next major challenge for China is a skyrocketing inflation, which at its root is the fact that there are too many people chasing too few resources. This fundamental flaw in population dynamics underpins many of the problems that China faces going forward.

Recent CPI data for November illustrates the inflation problem in China with a reading of 5.1% from a year ago comparison, this is up from a 4.4% reading for the previous month. Couple this with the latest 4% hike in fuel prices in China because of rising oil prices, you could expect future CPI and PPI reports to reflect even higher rates of inflation.

For now, most of the year over year spike has revolved around higher food prices as energy has mainly been flat for 2010 thanks mostly to government subsidies. Now that energy prices have entered the picture, China will start to experience even more inflation pressures in 2011. 

Furthermore, with the undervalued yuan pegged to the dollar, it is only getting worse for China in 2011 due to Fed's QE2 pressures on the dollar.  The real inflation rate for Chinese citizens for 2011 will probably approach 8% next year.

An Asian Contagion by China?

This escalating inflation concern is further compounded by Beijing's lack of decisive action to combat the problem by delaying a much needed currency appreciation, and hiking interest rates in a timely fashion. There is no getting around the fact that these two things need to occur as soon as possible.

By the time the Chinese government is forced to implement these tightening tools, the damage to the economy is most likely already done. The longer China delays the inevitable serious tightening measures, the harder the economic crash that will occur in the aftermath of these policy changes. And it is unlikely to end well. The resultant impact will probably take the rest of the Asian economies down with it – an Asian Contagion scenario.

History Repeats Itself

Eventually central planners and finance ministers around the world might start to understand that policies which lead to bubbles being formed in the first place are counterproductive in the long run. But until that lesson is learned, it seems like we are doomed to repeat the same mistakes over and over again.

Right now, there are more and more signs coming out of China that all is not well with its economy, and the likelihood of a more severe downturn in the future is a distinct possibility, unless its policy makers take decisive and prudent actions to minimize the damage of a hard landing.    


Dian L. Chu, Dec. 25, 2010 | Mobile Reader, Website | Google Profile

GroupMe, a service that lets users start a group chat using text messages, announced today that it has raised $10.6 million in its second round of funding — but it won’t be generating any kind of revenue any time soon.


The startup lets phone owners create a single phone number for a group chat. Whenever anyone sends a text message to that number, it’s sent out to everyone else in the group. It works for conference calls as well — anyone can dial into the number and start a group chat.


The first version of GroupMe was built over a weekend in May during a hackathon, a type of programming contest which challenges developers to swiftly create a working Web service, sponsored by TechCrunch, the technology blog now owned by AOL. Its creators famously drew offers for funding as soon as they left the stage.


GroupMe is built on top of a service provided by Twilio, a San Francisco-based startup which provides easy access to voice and text-messaging services which might otherwise be out of reach to small companies. Twilio has seen projects that use telephones to do anything from play tic-tac-toe to initiate group text messaging, has been particularly popular and even has its own seed funding program to go with it.


Right now, GroupMe doesn’t even generate any revenue — the service is completely free for users. Twilio, on the other hand, charges two cents to send or receive a text message, with potential volume discounts. Whatever GroupMe’s paying Twilio, it’s a cost that GroupMe appears to be bearing on its own for now. The development group doesn’t have any plans to try to develop a revenue-generating model in the near future. GroupMe has a few ideas like creating sponsored texting groups and brand groups. But that’s all they are for the time being — just ideas — said co-founder Jared Hecht.


“We compressed our 18-month road map into 9 months and we’re still finishing that up before we even consider thinking about revenue,” he said. “Obviously we are not focused on generating revenue right now.”


That didn’t stop Khosla Ventures or any of its other investors from throwing some cash their way. The group raised $850,000 in its first seed round of fundraising from the likes of Ron Conway’s SV Angel and Lerner Ventures. The most recent round of funding was led by Khosla Ventures, General Catalyst Partners and First Round Capital.


GroupMe brought on some pretty heavy-duty talent along with the funding as well. Jeremy Schoenherr, a former developer of Hot Potato and iPhone operating system iOS development expert, has come on board to help develop GroupMe’s mobile applications. Steve Cheney, a former writer with TechCrunch, also joined the team as a business development consultant.


Now that the “distracting” fundraising process is done and the company doesn’t have to worry about making any money for a while, it is turning its entire focus on improving the application, Hecht said.


“Now it’s product time, and it’s buckling down and spinning it out before we even consider finding a revenue,” he said.


Next Story: Access 360 Media raises $40 million-plus for outdoor digital advertising Previous Story: Gadgets galore! Consumer electronics to outpace world economy in 2011




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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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Harry Shearer: The <b>News</b> Doesn&#39;t Sleep -- Except on Weekends

News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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Harry Shearer: The <b>News</b> Doesn&#39;t Sleep -- Except on Weekends

News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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Harry Shearer: The <b>News</b> Doesn&#39;t Sleep -- Except on Weekends

News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

It pretty clearly seems to be a sarcastic remark about the large volume of Verizon iPhone stories. This one seems pretty redundant, of course Verizon plans to make news, why else would they call a press announcement? ...


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Harry Shearer: The <b>News</b> Doesn&#39;t Sleep -- Except on Weekends

News organizations have lately opted to hire fewer reporters, and to cut newsrooms' Saturday staffs. As NPR and Reuters issued erroneous reports of Rep. Gabrielle Giffords' death this weekend, the downside of such cuts seems clear.

Verizon Wireless is ready to make <b>news</b> on Tuesday | 9 to 5 Mac <b>...</b>

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