Dec 05

Dry Powder and the Spark of Innovation

Business, General Interest, Technology No Comments »

A couple of weeks ago, I attended the Deutsche Bank Fintech 2009 Senior Executive Forum at the Time Warner Conference Center in New York. The event consisted of a number of outstanding and well-organized panels that addressed critical issues such as market expansion and global competition. Like other engaging affairs, the interaction off the dais was as important as the communication on it. Having been through a recent funding round and not pitching for money, I was able to have a more interactive and balanced session with some great venture capitalists and other private equity leaders.

Guy Fawkes and Gunpowder Conspirators

Guy Fawkes and the Gunpowder Conspirators

Nearly all the dialog I had with the financiers turned to the concept of “dry powder,” an interesting and well-known metaphor for uninvested capital. The irony is that there are many emerging firms searching for money – looking for powder – and unable to get it. Is there a disconnect? Yes and no. Yes, because investment criteria are different and, in most cases, more exacting and stringent. No, because the model – as always – must address two markets: the one in which you’re trying to build a business and the other in which you’re seeking to raise money. Interestingly, elements of Sequoia Capital’s “Presentation of Doom” still ring true, but viewed in a different light it’s just common sense.

Entrepreneurship 101 right? Yes, but…we remain in a bit of a broader technology market malaise. Fortunately, because I lean toward optimism, there are encouraging signs, as indicated by a recent piece in the Merc. When conditions improve – and they will – the success of the outcome will be directly correlated to the dryness of the powder. Right now, that powder may be just a bit damp.

Rob Ciampa

Tagged with: • • • •
Nov 27

A Statistically-Interesting Social Media Thanksgiving with Sarah Palin

General Interest, Marketing, Social Commentary, Social Media 1 Comment »

Sarah Palin Pardoning TurkeyWhat a difference a year makes. Last year, our large Thanksgiving gathering was still divided and at odds over the then recent 2008 presidential election. With the exception of Sarah Palin, which I’ll address shortly, a new, shiny object showed up with the holiday turkey: social media. With three generations at the table ranging from ages twelve to eighty, I knew it was going to be an interesting discussion. For my statistically-oriented and pollster-pushing friends, here is a measurable tidbit: everyone in attendance had an email address – and that included “the elders.” For simplicity, let’s segment the gathering into the elders (60 +), the kids (20 -) and the mid-market (20-60).

As a marketing guy and a card-carrying member of the mid-market, I was at an interesting vantage point because I’ve used all of the social media vehicles. I had to explain the role of Facebook, LinkedIn, Twitter, blogs, Digg, etc. What intrigued me, though, were the divergent and interesting views on social media. Here are some take-aways:

  • The kids thought the other generations at the table were Luddites and couldn’t understand why we weren’t texting between bites of cranberry sauce and stuffing.
  • The mid-market and elders believe Facebook should be about connecting friends and not about communicating to your-sister’s-classmate’s-cousin-from-Fresno-CA’s-favorite-Starbucks-barista.
  • The kids had an average 582 friends vs. about 87 for the mid-market. From our sample, none of the elders had Facebook, but were very interested.
  • Only the mid-market, marketing guy and his wife (Mrs. Market Research) had a Twitter account. None of the kids “got” Twitter and thought it was weird. Go figure.
  • LinkedIn was deemed very intriguing by the mid-market and the elders, though the brand recognition was weak. The kids challenged the concept of LinkedIn when one already had a Facebook account. (Why do the non-kids segments feel this way? Because business colleagues generally don’t want to see one another in skimpy bathing suits and compromising situations.)
  • Social bookmarking was not well known across all three segments. When I explained the concept, everyone thought the idea was great, but didn’t like that fact that there were so many choices. The one-stop shopping rule returns.
  • Most at the table don’t understand long URLs and want to shorten them. I explained bit.ly to a few, but they didn’t necessarily like the new, cryptic URLs either.

After the social media discussions ended, Sarah Palin showed up again this year as a hot topic. As always, she remains a divisive subject, especially now that her new book is out. I tried to remain objective between the Maureen Dowd-esque and Sean-Hannity-esque banter (and flying drumsticks) at the table. In an effort to mediate the debate, I raised the subject of her use of Facebook and Twitter, which only empowered both sides at the table. I’ll try to remain neutral again next year, though I suspect my analysis of her use of social media may not fly again. I will be especially interested at the Thanksgiving 2010 to see how the market segmentation changes and which social media vehicles are in vogue.

Rob Ciampa

Tagged with: • • • • • •
Nov 14

Blog, Rob. Blog!

General Interest No Comments »

godoggo143x200I began blogging in 2004 at the behest of my friend Dave Forstrom, who’s now a public relations manager at Microsoft. “You have passion about everything you do, Rob,” he said, “along with no drought of opinion or lack of creative thought.” I thanked him for the kind words and tried very hard to convince him that I was just another regular, boring guy. I further told him my docket was full with all sorts of other “marketing” things to do. He persisted, so I capitulated and began writing. As a former engineer, I was never one to shy away from the avant-garde, but little did I know how transformative blogging could be. Remember, it wasn’t until some years after this that the blogosphere truly had its tipping point.

When I began my blogging journey, I was with a company that supplied information security solutions to the marketplace. Having recently left a successful stint at IBM, I was rediscovering my creative running legs. My initial blog entries back then were arguably somewhat vanilla, perhaps reflecting a bit of my public relations prose. Then something changed. Around that time, I found an important segment of the technology industry chasing yet another BFRH (big fat red herring) and I decided to challenge it. Initially, I was greeted with some skepticism, but then supportive emails began arriving, followed by links from other blogs, and subsequently requests for broader syndication. A great debate was smoldering, then ignited when Dave Kearns, one of the great technology writers for Network World, poured some gas on it. Separately, Mike Rothman from Security Incite, the ultimate protagonist/antagonist, was also having a bonfire of his own on this topic and soon everything came together into a great conflagration. Expectations were reset and companies around the world were better off – and more secure – for it. A few blog entries were the sparks that lit up and impacted an entire industry.

Over the years, I’ve had several corporate blogs in which I injected my voice into otherwise mundane topics, making them a bit more palatable, pithy, and – at times – amusing. I’ve also been fortunate to have shared excellent blogs with some great partners, such as Ian Glazer, now an analyst with the Burton Group. I learned that if you blog for yourself, you eat by yourself; if you blog with a broader voice, you share a banquet with many others. And you can have an impact. I’ll continue to do the corporate blogs, but now I look forward to sharing thoughts on a vast array of topics, or as I subtitled this blog: markets, musings & meanders. Life is much too interesting to sit idly by on the sidelines.

Rob Ciampa

Tagged with: • • • •
Next Entries
preload preload preload