18 Jul 2005
I just started reading David Cowan and have so far found him to be an interesting read. David’s a VC with Bessemer Venture Partners.
I see that Bessemer has invested in Affymax, a drug discovery firm utilizing peptide-based biochemistry. I wonder what they’re using to manage workflow and data in the lab. We’ve been talking to a lot of biotech and pharma groups lately and they all seem to share a common data analysis and workflow need.
In this article, David talks about how the security industry will always need a healthy injection of startup-style innovation. In another post, he provides an overview of different security myths and explains how security mechanisms based on user education and multi-factor authorization will not work in the long-term.
I particularily like his test at the movie theatre… would you have been phished?
*So I said: watch this. I stood by the front door, waited for a lull in traffic, and then nonchalantly proferred my hand toward the next approaching bevy of teenagers. “Tickets” I murmured.
Once the first victim handed me his ticket, the rest were cake. Tickets accumulated in my hand as my victims jabbered on about football games and SAT prep. I collected half a dozen and stopped. A good 5 minutes passed before they wafted over to the hallway, encountering another ticket stand (by then I could have sold the tickets to folks standing in line). Another 2 minutes passed as they tried to figure out which of them had the tickets! As it dawned on them that they had been phished, I returned their assets (and thankfully they didn’t kick mine).
Look forward to reading more David.
16 Jul 2005
I’ll start this off by saying that I’ve always been interested in the stock markets. I’ve just finished reading the two Fortune.com articles commemorating the 10 years that have passed since Netscape’s IPO in 1995.
Part 1 – Remembering Netscape: The Birth of the Web
Part 2 – How Netscape Lost Its Way
I’ve read The New New Thing which tells the story of Jim Clark and his progression from SGI to Netscape and ending with an overly ambitious self-navigating yacht. I recommend that anyone interested in the Netscape story (told from 20-odd insiders) check out the two articles above. The quotes that particularily rang true to me have been included below.
Homer: I actually have a little book of Barksdale sayings. Things like “If you see a snake, kill the snake, but don’t play with dead snakes.” That means that if it’s an important issue, discuss it. Resolve it. But once you’ve discussed it and resolved it, don’t bring it up again. We called that the Rule of Snakes. He was a calming influence, yet with a sense of urgency about the business, which is extremely difficult to have in one person. I have a sense of urgency, but no one would ever accuse me of being a calming influence.
*Very true, in a start-up you need everyone focused on the road ahead. *
Eric Hahn: We had products that were hugely popular like Netscape Navigator, whose code was just getting really buggy and really expensive to develop for. Each of the 50 new engineers would pile on and build 50 new things on top of it, but the foundations didn’t support it. That hurt us in the browser war almost as much as the Microsoft free browser did.
That’s a problem I struggle with on a daily basis. It’s the trade-off between moving fast and satisfying short-term goals while trying to prepare for an unknown future. We just don’t have the resources to consider the long-term implication of each decision so we apply the 80/20 rule. A solution should cover 80% of the (common) use-cases and any customer-requested outliers will be considered on an individual basis. This buys us time to devote to ensuring we have a satisfactory foundation to move forward on. However, technologies change (EJB 3.0 is right around the corner) and all software inevitably needs a re-write.
Roger McNamee: The tendency was to blame Microsoft for Netscape’s demise, and that that is just not correct. Microsoft defeated Netscape in the marketplace decisively. It was only able to do so because Netscape abandoned market opportunities in which Microsoft was largely powerless and which came to be dominated by others, in favor of markets in which Microsoft was exceptionally powerful. Microsoft clearly beat Netscape at its own game in browsers but that, in my opinion, is not why Netscape failed. Netscape’s inability or unwillingness to commit itself to the new opportunities enabled by browsers: things like portals, which created Yahoo, like search, which created Google and Overture, like application servers, which created BEA. Netscape’s unwillingness or inability to commit itself to a strategy that revolved around these new categories was the real reason it failed.
Clark: My 20% stake in Netscape was worth $663 million on the day of the IPO. I remember because later I needed to come up with a tail number for an airplane I bought. I told them to use 663, because that meant something to me.
That’s rough.