In the middle of 2014, one of my friends on Twitter (@Stammy) kept retweeting an account into my feed, usually with a screenshot. Turns out, it was his friend and roommate, and that friend and roommate had created software which just looked different than other products.
I conducted a bit of Internet sleuthing and discovered my friend’s roommate used to work for a company I was dying to invest in earlier but couldn’t convince them. That company creates great web and mobile products, too, so my interest piqued. I asked my friend for an intro, and after a few months, it came through. I rushed to meet the entrepreneur a few days later.
Turns out, my timing was good.
Anand had built the v1 of Gyroscope, currently web-based software which served as a hub for all of a person’s connected device and monitoring/tracking data. By connecting various accounts to your Gyroscope, the products gives you a kaleidoscopic view of where you’ve been, the pictures from those places, how many steps or calories you’ve collected and more. But more than just aggregating data, there’s something about the product, the design and animation, which makes it compelling.
I wasn’t sure where Anand was in his thinking. I wasn’t sure if he wanted to join a company, or still travel. We talked broadly about his options and I didn’t share any of my own views on what he should do, except that if he thought about it and wanted to start a company, I would be his first check and help him close the round.
A few days passed and he got back in touch. He was ready to start. I didn’t expect that, but was psyched about it, no doubt. We put our minds together, came up with a plan, started engaging lawyers, and all those details — we priced the round, I wired my funds, and started making introductions for Anand. We also opened up a small AngelList Syndicate, which has been closed for a while. At the end of it all, a larger fund also came in to give Anand and Eric a good solid cushion to build out v2 of the product.
As 2015 unfolds, the landscape has changed. Apple has committed some of its attention with Apple Watch to digital tracking, fitness, and health sensors. We are accumulating more connected devices which collect more and more data about us or our surroundings. What will do with all of it? Who owns that data? These are big questions, and while I don’t know the answers, I have a good feeling Gyroscope will be in that conversation.
Meerkat has the makings of not only becoming a big, important platform, but you can already start to see how disruptive it may be given all the reactions it generates (“get off my lawn!”) and serious questions it raises about other media networks and platforms. Observing the way folks are using it and how different people are tweeting about its varied potential for over a week now, I believe it has the makings of that rare disruptive platform. Here’s how I think about it:
And, therein lies the challenge and opportunity. The challenge is that while we’re enjoying the flurry of experimentation today, the cost of watching video (especially poorly produced grainy and unstable video) is very high to the audience. It can feel noisy or disorienting. Very few things will have real-time currency, but as more people experiment, no doubt interesting things will emerge. Also, Meerkat couldn’t’ve exploded without ambushing Twitter, and now that Twitter also has its own competitive product, has a huge incentive to bring the feature in-line and give preference to Periscope. While we have Net Neutrality now for our big pipes, the social and interest pipes on top of the web do not have their own flavor of net neutrality. Now, Meerkat will have to go through the work of building out user accounts, finding other networks to integrate with, and helping those with large and niche audiences produce this new style of media. That’s the opportunity ahead, and I’m sure the team will have enough talent and dollars chasing it to see if they can make it into a reality.
A final, personal aside about Meerkasts and blogging — nothing I do in life ever has true real-time currency, so in a Meerkat world, I’m likely to be a consumer, not a creator. In the world of text, I can create, but blogging for me is a way to structure thoughts over time — I’ve been tweeting and thinking about Meerkast for a week, and finally had a chance to write this as my daughter is napping. By contrast, I technically could’ve opened up my Meerkat and broadcast this to you all, but it wouldn’t have been as structured, and it would’ve been significantly more boring!
I’ve been talking a bit more recently in private conversations and a few tweets about Twitter lists, and I was surprised that people would ask me “How do you use them?:” or more interestingly, “What are they?: Ugh, Twitter UI regression. There’s a long history around “Lists” that isn’t worth going into, but essentially, Lists are user-generated lists of accounts — either public or private — that provides a different feed to the user, separate from their main feed. For instance, someone can create a list that includes @justinbieber without having to explicitly “follow” @justinbieber.
It’s a bit confusing. Twitter Lists are a power user product, and I’m sure many people who use them do so in different ways, so I’ll share mine briefly:
Ultimately, Twitter lists are a great feature, but they’re hard to access and use (it’s even hard to build a list, to be honest — it takes time), and just like DMs before it, or the newsfeed in general, the overall decline in information density on Twitter web is why I don’t use Twitter native products anymore. On mobile, I use TweetBot (great list views) and TweetDeck in the Chrome Browser for my laptop, which also has great list views. I’d probably be blind without lists.
As someone who uses Twitter a lot (yep, over 70,000 tweets) over the years, it’s been fun to watch Marc Andreessen take Twitter by storm in 2014. In the last year, he’s turned up the volume to build his Twitter network and promote his firm’s investments, curate ideas and articles, and amplify in the voices of others. So, it got me thinking — just how much did @pmarca use Twitter in 2014? The answer to the question is pretty cool (and very consistent with Dan Frommer‘s take from the midway point in 2014, here on Quartz). Note, these aren’t exact statistics for 2014, as he signed up for Twitter many years ago, but given the volume of content creation this year, it’s directionally safe to presume most of his tweets and interactions were generated this year.
As of Dec 25, 2014, @pmarca‘s stats for the year 2014 are (approximate & rounded up for cleanliness):
Number of Tweets: 41,600 (114/day)
Number of Followers: 235,000 (+644/day)
Number of Accounts Followed: 4,700 (+12/day)
Number of Favorites: 121,000 (332/day)
% of Tweets Which Are @Replies: 73.5% [Source]
Device Share: 78.5% (Twitter web), 19.7% (Twitter for iPhone), 1.7% (Twitter for iPad). [Source]
** Note: His account was created in 2007, and had <1,000 tweets up to 2010, but turned up the volume in Dec ’13. **
Marc was quite consistent throughout the year. If I were trying to build an interest-network online from scratch today, I’d probably follow most of what he’s done plus post/blog and curate links/images/videos on Medium (which has good discovery and juice on Twitter). Heavy use of Twitter, including lots of curation with commentary, lifting the voices of others (including in the media), and timely linking. He’s favorited a tweet well over 100,000 times. All of those people who tweeted got a receipt that Marc has read their tweet. Small, but powerful, and reinforces reciprocity, which is a core tenet of building influence over time. Also critical, as Frommer highlighted, Andreessen balances his broadcast heft by quite consistently replying to people — assuming he tweets 100 times a day, over 70 of those tweets, on average, are replies to others. Despite his tweetstorm megaphone, he actually seems to listen on Twitter. Perhaps there’s a lesson in that, too.
John shared this video of Steve Wozniak last night, describing it as “wonderful” 3x. Really? Well, yes it is. Rather than retweeting it or just sharing the link, I wanted to post it here and say a few words, to save the clip. The video is short, so there’s not a big cost in watching it. Also, it’s highly produced with good music, great clips, transitions, color. It is worth the time.
Beyond this, like John tweeted, I just love this video. It is honest, pure, and true. The scenes of him reenacting how he built the first boards by hand, the old video clips of the machines he would unveil, and everything in between was a joy to watch. My favorite part is at the end – where he explains he likes being at the “bottom of the org chart” where he can just be an engineer, creating things — that was powerful.
He took a few swipes at Jobs’ desire for business, to move up the org chart, to sell machines and make money. And it reminded me of how politics comes into play as successful people accumulate more power and fame. while this happens, there are plenty of people who are either expert in their craft or only interested in the pure pursuit of it that let go of the ambition to move up the food chain, let go of the drive to make more money, etc. to instead just focus on what they love to do. Only makes you wonder, in this day and age of tech celebrity brands: What greatness rests at “bottom of the org chart”?
Finally, I had to write out this last quote from Wozniak, can’t stop thinking about it today:
When we went public, yeah, a few of us became unbelievably wealthy, we were worth so many millions of dollars, hundreds of millions…but…I designed these machines because I wanted computers for myself, I wanted to help revolutions happen, and I didn’t really want that kind of wealth…I want to stay at the bottom of the org chart, as a engineer, because that’s where I want to be.” – Steve Wozniak
Hello. This is a request for help to all the readers of Haywire. Last week, I shared the Preface and Table of Contents (draft) to my book on Uber. The embeds didn’t work well on this WordPress theme, unfortunately, so I wanted to specifically write to you all and kindly ask for your help in looking over the Table Of Contents: https://hackpad.com/The-Uber-Effect-by-semil-jperNxo8smn
I’ve put the TOC on Hackpad where anyone can add or edit, or you can reply by email to me privately, or put some thoughts down via Disqus comments. I know many of you read here without interacting, so please forgive me this once to get your feedback here. The TOC serves as my guidepost in framing the book, and is probably the most important part of the entire book-writing process. Thank you!
A startup idiom can go something like “stealth mode is overrated” or “counterproductive” or just plain “dumb.” Lately, however, there are more and more companies I’m seeing which remain stealth, don’t announce funding, or their investors, or much of anything. Here, the conventional reason given is: “Press and coverage no longer drives attention and, therefore, conversions or customers.
But, I think that’s not entirely it. I think a deeper force is at play.
Over the last few years, companies couldn’t wait to announce funding, their backers, and work the PR angle. Investors fueled this further writing on their blogs about new investments alongside press events. Nowadays, not a day goes by when someone tells me about a new stealth company that has been funded by a great investor, for around $3m or so (give or take), and there’s little or no trace of the company, the founders, or investors. All carefully cloaked.
My theory — people are afraid of competitive forces and ruthless copying. Working in the dark now may preserve all sorts of advantages, such as the ability to focus, the protection from recruiters or poaching behavior, and not giving ideas to overfunded teams of talented souls who are clever enough to pivot 180 degrees into your neck of the woods. I should underscore here this has been so common over the past year that when I see tech headlines on Twitter, it just feels like an entirely different universe. I should also underscore that these companies are often on a different level from what is publicly discussed about other companies. A growing but derivative company may get people chattering online, but some of these new companies — if public — would make for great blog posts, discussions, and debates about what our future may hold.
That gives me hope but also puts me in a bind. I have survived here by being open and public, but also working very hard to work with several competing interests while maintaining confidentiality. And, I like to distill what I see happening and then write about it here, as a way to deepen my understanding and learn from others. But as more things go stealth, I will hear about things less, and even if I do, like I did this week, the information can’t go anywhere but patiently wait to launch or seep quietly into the mainstream one day. From what I’ve seen, I hope they do.
About a year ago, a close friend of mine told me to get back in touch with @lg, and I did immediately — and that was a good choice. I had known Larry before and wanted to invest in Envoy on the spot. (You can read the Envoy story here.) As Larry and I reconnected, he graciously introduced me to this guy who was leaving one of my favorite startups to create his own product and company. So, of course, I took that recommendation seriously. And, I’m glad I did.
Larry recommended that I met Henrik, one of the earliest employees at SoundCloud. I love SoundCloud and have been friends with Alex for a while. Henrik was in town from Stockholm and I rushed to the city to meet him. We walked around the city for about 90 minutes. I was definitely going to invest and just was hung up on one detail — creating for the iPad vs iPhone. I was stuck on iPhone, he was bullish on iPad for music creation.
Auxy is iOS software that allows anyone to create their own electronic sounds, to stitch them together, to change the tone, pitch, tempo, and beat to create their own electronic music. Check out the video above and make sure to download Auxy for iPad — Henrik convinced me of why the iPad is better for this to start, just like good entrepreneurs do. Aside from that detail, I believe electronic music is the music of today’s and tomorrow’s generation, and is a lingua franca to connect people around the world in a common belief or experience. [Product Hunt discussion on Auxy.]
Henrik lives in Sweden. It’s the first international investment for Haystack. It was a quick decision in a product that’s built many miles away. But, like electronic music, our shared belief in the power of music makes that distance a minor footnote. Now, I have a friend in Stockholm, and I wonder what new things I’ll learn from him.
I have some personal news to share. I am going to write a book. Yes, a book that you can physically hold in your hands, or download to your Kindle. Though many people who know me came to know me through my writing on blogs, I don’t consider myself a writer — rather, it is just the way I interact with the world around me and just a byproduct of the work I’ve been doing, either at companies, in venture capital, and as an independent investor. Yet, about a month ago, on a Sunday morning tailgating before a football game with a bunch of colleagues, we had a few beers and got on the topic of an idea that turned into a longer conversation.
And, since then, I couldn’t shake the idea. The more I thought about it, and the more I socialized the idea with friends, they too agreed it would be a good idea and that my background, more diverse than deep in any one category, could provide an interesting lens with which to write this book and share the associated ideas widely. I am going to put my name on the line and use my little platform to market the book. My intention is to make the book an organic extension of this blog, with more organization, and to share the story in an authentic, civil manner and attract the proper audience for it.
“OK, OK,” you say, “What’s the book about already!?” My answer: “Uber.” For lack of a better title, for now, I’ll call it: “The Uber Effect.”
Over the past year, I noticed that I would write more and more on this blog about Uber, and then when I searched the history on the site, I noticed it came up much more than I had imagined. And, recently, it has come up in conversation more, and when people I’m talking with realize the company is a big deal but have a harder time imagining how big the company can get and what type of influence it will collect and exert, those conversations turn into debates that touch on many aspects of how we organize society today. The more and more I think about the company and its growth potential, the more I’ve come to realize it will not just be a financially powerful company, but Uber will hold all other sorts of power related to data, mobility, logistics, commerce, transportation and more. Like Amazon, Google, and Facebook before it, it is a once-in-a-lifetime company, it is on the verge of going public within the next two years, and I have made a personal decision to commit some of my time to organize and tell that story as the drumbeat gets louder.
“What will the book cover?” you ask. I am still sorting that out, but expect it to touch on how mobile devices help create the largest technology market our society has ever witnessed, how humans are migrating to cities worldwide, how centralized systems (like governments) are being challenged by decentralized networks, a citizenry more willing to pay by the mile rather than pay more taxes and the subsequent effects on public transit infrastructure, a bifurcating labor market between high-skilled and not in an age with automation on the horizon, the distribution of knowledge via cloud-based servers and mobile devices, just-in-time inventory management powered by mobile devices, and how autonomous vehicles may turn this all upside down again.
Truth is, I’m still sorting this out, talking to an agent and publishers, but I want to commit to it, so I’m publicly sharing it, and I will need to really sharpen the scope and focus. That’s what the holidays are for, I guess!
All that said, here’s what will not be covered in the book:
One, this book will not be a hit-job on the company, nor an excuse to be an academic cheerleader for the company. I am an Uber “bull” and would love to own stock in the venture, but I have no financial connection to the company and I do believe Uber will face some bumpy times ahead. Uber is also a company which has been described as “unscrupulous” by many, and I will look into those stories. I want to write a fair book.
Two, the book won’t be unnecessarily long — rather, I want to write it in a style that a smart person can dig into it for a few weeks, let it marinate and digest, and then talk about it with other people.
Three, the book won’t go into gossipy detail about the company’s formation or startup competition — nothing wrong with someone else taking up this angle, and I’m sure there’s an audience for it, but it doesn’t interest me personally.
Four, it won’t be an excuse to show off data porn — I don’t want to be reliant on getting proprietary data nor do I want to get into academic debates about how one labeled a graph and such. There will be people who disagree with the book, and that’s great — heck, right now, many smart people think the company is grossly overvalued.
Five, my goal is to not make it the typical business or strategy book — think of the brilliantly short “Holidays On Ice” book by David Sedaris that you can read every holiday season with a heavy dose of the type of writing that’s on this blog already, but much more organized.
And, Six, this won’t be an “official” account or the “official” book on Uber. I won’t have that kind of access nor would make that claim. It will simply be my point of view on the company, in greater detail than could afford on this blog, and something tuned for the more casual reader who is interested in issues like globalization, mobile technology, new business models, labor markets, and reimagining cities.
Anyway, that’s it. I’ll share more details as I organize them. Will probably start with a Table Of Contents. Also, there will be many people reading this and on Twitter with a much better grasp of the company than I have — I want to write this book both for the technology early-adopters who have seen the Uber tidal wave coming for a while, but also for a more general audience who may have not yet. I hope that I can set expectations here and write a book that will appeal to both. Thanks for reading, and thanks to friends already who have listened to my idea and offered feedback and guidance. (And, yeah, there are probably typos in this post, so I’ll have an editor and fact-checker clean up the book.)