Idea Paranoia

Yesterday, I blogged about my plans to form a group to discuss ideas and innovation in Istanbul.  The idea has received enthusiastic feedback.  I am excited to move it forward.

I want to spend a few minutes on a key aspect of this group I am trying to form: Openness around ideas. I firmly believe that ideas grow by sharing.  Every time I have shared an idea with someone who will understand, intelligently question and provide insight to it, I have left that conversation with a stronger, better thought-out version of that idea.

I do know that conventional wisdom says that you should be careful with ideas and that someone can steal your idea.  I have signed many NDAs before, and have even made people sign my NDA.  At this point, though, I think that they are overrated.  In most cases, the ideas are dime-a-dozen, and it’s execution that matters.

Fred Wilson, a few weeks ago, had a good post on what’s called "opening the kimono", which is another version of idea sharing.  I found it insightful.

I am hoping that the Istanbul Tech MeetUp New Economy Group will be about sharing ideas and opening the kimono.

Istanbul Tech Meetup

I am a member of the NY Tech MeetUp.  It is a monthly gathering of technologists and those interested in technology, organized by Scott Heiferman.  The great thing about it is that it lacks any pretension.  It is fairly democratic, very informal, and organized around ideas.  It is one of the things I miss about NYC.

I had blogged earlier about how I felt the concept of entrepreneurship in Istanbul needed to be freed from the triangle of academics, bankers and bureaucrats. 

So, I have decided to organize an Istanbul Tech MeetUp.  I am shooting for January to have the first meeting.  I was going to use the MeetUp infrastructure, but I realized it is built primarily for the US, UK and Canada.  So I will probably use a combination of Evite (or Daveti.com, its Turkish copycat) and TypePad (in a similar blog to this).

I plan for the event to be open to entrepreneurs, technologists, students, academics, VCs, professions that surround new ventures, or, as Scott says, "anyone who’s interested in seeing or showing something new".  I will need RSVPs so we can keep track of who’s attending. Eventually, I think, the format will move to a series of presentations, but I think the first one will just be a cocktail (cash bar).

I’d love to hear ideas if anyone’s got any.

The Ladders Continues to Innovate

In general, I think online recruiting is a sector that has lagged behind other online marketplaces in innovation.  The leaders, like Monster, are still offering a classified advertising service.

There have been exceptions. One is Marc Cenedella‘s company The Ladders.  They stepped into the online recruiting world by going against industry conventions: They allow companies to post their $100K+ jobs for free, and get their revenues from job seekers who’d like privileged access to those jobs.  Over about two years, they created a very successful company.

This week they are launching "Opal", where they introduce new functionality to their service.  Until now, unlike traditional career services websites, The Ladders had no profiles of their job seeker members, for recruiters to search and browse.  Opal changes that.  In addition, Opal allows the recruiters to create profiles, as well!  Marc thinks this is not dissimilar to the online dating model.  The recruiters become the pretty girls. 😉

The key here will be protecting the recruiters from excess attention, as well as careful filtering to ensure the recruiters are real.  Once those two steps are in place, The Ladders will once again have innovated in an area that has largely missed key internet learnings so far.

The Virtual Handshake

I am now back in Istanbul after a week in NYC.  It was a good chance to catch up with friends and see what’s new.

Tet_1  I caught up with David Teten, who’s recently published "The Virtual Handshake," which he co-authored with Scott Allen.  (I was a contributor to the chapter on corporate alumni networks.)  It is a very insightful book on how online business relationships work.  I would recommend it for job seekers, business development professionals, and anyone who is interested in how social behaviors translate online.

IRC Ege VC Conference

On Friday, I attended the IRC Ege Technology, Innovation and Venture Capital Days event.  I must say, it was an eye opening experience.  I have to give credit to the organizers:  they worked hard to attract a relevant crowd to Izmir, which remains a secondary region in terms of tech innovation in Turkey.

Entrepreneurship HAS to be RESCUED from the triangle of VC, academia and government!!!  I felt this to a point in NY, but in Turkey, partly due to the relative naivete of the entrepreneurial community, the grip is tighter. The concept of "entrepreneurship" is held hostage by the finance community (to a point including the advisor crowd of lawyers and accountants), academics and bureaucrats. 

The primary point I’d like to make is that the conference was extremely BORING.  Three or four panelists sit behind a table.  A political moderator asks pre-determined questions.  The audience is not really connected to what’s discussed.  The result is basically a waste of time.

To give an example, after a long debate on Venture Capital, one audience member, the founder of a 25-year old elevator company, stood up and asked, "So you’ve been yapping for two days now.  But who’s going to answer my question?  I have a great company.  Let’s assume that everything in my company is by the book. How much money will you give me, at what length of time, and at what interest rate?"  As absurd as the question was given the forum, it was so right on.

As could be expected, no one answered the poor chap.  He should not have been there.  Actually, the whole conference should have been programmed with him, and those like him, in mind. 

I met a remarkable person at the conference, Yigal Erlich.  He was one of the original partners at the Israeli national Venture Capital program, Yozma.  The story of Yozma presents a very critical lesson for the Turkish government, if there is the intent to kick-start this field in Turkey.

Start-Up Kit

Nick Denton of the Gawker has a post on the tools he finds useful in a start-up environment.  When we founded SelectMinds in 2000, most of these tools were not around.  We used AIM and Webex as tools, outsourced HR management and web design.  Most importantly, we went to a friend and had ourselves "incubated" – as in housed in the excess office space they had and hooked on to their LAN and phone system – in exchange for some equity.  This saved us tons in rent, telecom, IT support, and other overhead.  In addition, it provided us with a friendly, stimulating environment and bright people, instead of just the four of us (the founders).

I’d definitely consider a similar incubation model if I were starting a company, again.

As for additional tools, I’d list Bugzilla for bug tracking and Kwiki for knowledge management.

Death of a Legend

Pele_e_george_bestThe football (soccer) legend George Best has died after a series of problems with his health.  Although I am not old enough to have seen him play, he would have been fun to watch and, probably, more fun to hang out with.

He has a few classic quotes I found amusing,including:

"I spent a lot of money on booze, birds and fast cars. The rest I just squandered."

"I used to go missing a lot… Miss Canada, Miss United Kingdom, Miss World."
Gb

The Greatest Generation

Last night we were having coffee and desserts with our friend Alexis, who’s an American architect living in Istanbul for the last 5-6 years.  The topic was vision and innovation.  I was sharing with her some of my observations of the VC and entrepreneur community in Istanbul.  She brought up a very interesting insight.

She mentioned that she sometimes finds it easier to have conceptual, idea-based discussions with older Turks – those past 65 or 70.  Alexis speculates that these people, having grown up in a period in Turkey when the modern Republic was being built on the foundation of the bankrupt Ottoman Empire, almost brick by brick.

The building of a new state is as complex and ambitious a project as one can imagine.  The founder of modern Turkey, M.K. Ataturk had to establish a new vision for a country that was radical for this geography in many ways, including:

– A democracy, after centuries of monarchy
– Secularism, after centuries of theocratic principles guiding the judicial system, with the Ottoman sultan as the Caliph
–  The Latin alphabet, after centuries of using the Arabic alphabet

For the generation born in the early years of the republic, this vision was taken as the guiding principle, and in their youth, they saw this massive project take shape.  They can understand and deal with concepts.

I think Alexis has identified a very interesting point about modern Turkey.  I will be thinking more about this.

158567334x01_bo2204203200_pilitbdp500arr_1For those interested in the early years of the Turkish Republic, Andrew Mango does a good job covering the critical points in his biography of Ataturk.

What Exactly is Web2.0?

Lately, in most of my business-related conversations, the term Web2.0 pops up.  Generally, there’s an implicit understanding of what I mean by using the term.  Sometimes, however, I find myself grappling with nouns and adjectives trying to convey what I am trying to say.  These words tend to include:

del.icio.us
flickr
tagging
peer produced content
indeed
blogs
AdWords

Finally, Paul Graham to the rescue: He has a thoughtful blog post on Web2.0.

Who’s Clicking GOOG?

Google is trading above $400.  In the last quarter, their revenues were above $1.5B.  This means that they are selling a ton of ads.

The way Google’s advertising model works, most of these sales happen when someone clicks on an ad.  It’s very much a pay-for-performance model.  This means that a ton of people click on these ads.

Who are these people?  I don’t think I have ever clicked on a Google ad.  In my informal surveys, my friends and colleagues do not seem to click on these ads, either.  I am very curious.