Category Archives: business

theodp writes "Tech bubbles happen, writes BW's Ashlee Vance, but we usually gain from the innovation left behind. But this one — driven by social networking — could leave us empty-handed. Math whiz Jeff Hammerbacher provides a good case s…

Hugh Pickens writes "The Tampa Tribune reports that Jimmy Wales recently spoke at the TEDx conference in Tampa about the three big failures he had before he started Wikipedia, and what he learned from them. In 1996 Wales started an Internet service to connect downtown lunchers with area restaurants. 'The result was failure,' says Wales. 'In 1996, restaurant owners looked at me like I was from Mars.' Next Wales started a search engine company called 3Apes. In three months, it was taken over by Chinese hackers and the project failed. Third was an online encyclopedia called Nupedia, a free encyclopedia created by paid experts. Wales spent $250,000 for writers to make 12 articles, and it failed. Finally, Wales had a 'really dumb idea,' a free encyclopedia written by anyone who wanted to contribute. That became Wikipedia, which is now one of the top 10 most-popular Web sites in the world. This leads to Wales' theories of failure: fail faster — if a project is doomed, shut it down quickly; don't tie your ego to any one project — if it stumbles, you'll be unable to move forward; real entrepreneurs fail; fail a lot but enjoy yourself along the way; if you handle these things well, 'you will succeed.'"

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Entrepreneur Paul Buchheit, lead developer of a little something called Gmail, has an opinion piece up with an interesting take on the product design process. Entitled “If your product is Great, it doesn’t need to be Good,” it espouses the following central theory:

What’s the right approach to new products? Pick three key attributes or features, get those things very, very right, and then forget about everything else.

The piece is a short and sweet read. Check it out here.

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We may have to rethink the assumption that Silicon Valley is the hotbed of innovation in which all the world’s best and brightest want to work and live. TechCrunch has a piece by an invited expert on the reverse brain drain already evident and growing in the US as Indian, Chinese, and European students and workers in the US plan to return home, or already have. From an extensive interview with Chinese and Indian workers who had already left: “We learned that these workers returned in their prime: the average age of the Indian returnees was 30 and the Chinese was 33. They were really well educated: 51% of the Chinese held masters degrees and 41% had PhDs. Among Indians, 66% held a masters and 12% had PhDs. These degrees were mostly in management, technology, and science. … What propelled them to return home? Some 84% of the Chinese and 69% of the Indians cited professional opportunities. And while they make less money in absolute terms at home, most said their salaries brought a ‘better quality of life’ than what they had in the US. … A return ticket home also put their career on steroids. About 10% of the Indians polled had held senior management jobs in the US. That number rose to 44% after they returned home. Among the Chinese, the number rose from 9% in the US to 36% in China.”

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Writing in the ribbonfarm.com blog, Venkatesh Rao uses The Office to explain and illustrate a theory of management he calls the Gervais Principle (after the TV series’s creator). Taking off from Hugh MacLeod’s cartoon laying out a corporate hierarchy in layers of Sociopaths, the Clueless, and Losers, Rao riffs on and updates the Peter Principle, in these terms: “Sociopaths, in their own best interests, knowingly promote over-performing losers into [clueless] middle-management, groom under-performing losers into sociopaths, and leave the average bare-minimum-effort losers to fend for themselves.” Don’t know about you, but this analysis suddenly makes sense of much that mystified me in my sojourn in corporate America.

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