Category Archives: Internet Marketing

DON’T GO BELLY UP

by Loop Lonagan

Sleep never comes easy when you’re building the next great tech giant from scratch.  Every idle moment gets overwhelmed with a flood of notions, fears, and phone calls.  You know what I’m talking about.  Those extra hours you squeeze out every day and all that risk you carry on your back are killers.  Keep pushing and something’s gotta give—brain, body, business—one of them goes belly up for sure.  What’s that I hear?  That won’t happen, you say?  Believe me, whenever you tough it out too long, your personality gets so severe that nobody can stand working with you.  From time to time, a CEO has to refresh, rejuvenate, reboot.  You know it and I know it, so listen up.

PERSONAL NOTE FROM LOOP LONAGAN:  Yeah it’s me, all right.  Don’t sound like it though, does it? The new guy, Shakes, worked it over real good, after I dictated the thing.  Gotta make dat guy my reglar editor!

NOTE FROM WILLIAM SHAKES:  “You speak an infinite deal of nothing, but for my own part, it was Greek to me.” (Translation: No problemo.)

So how do you decompress?  Ditch the cell phone for three days.  Escape that smelly city!  Do something outrageous in God’s Creation!  For me, that’s fly-fishing the great annual salmon run.  Ever catch a 40-pound salmon on a fly rod?  It’ll knock the stuffing out of your stress level real fast.  It’s a thrill you won’t forget—ever.

Jim Kren and Joe Perogi gape at the river

This is a hundred percent good.  Think of it—strategy sessions, mapping out your attack—the adventure of wading a wild stream in the dark in hunt of your prey—the tactical skill of delicately casting a fly made by your own hands—the adrenalin rush of a monster king salmon striking your line—the physical strain of fighting a powerful fish for half an hour in the heavy current, line in hand—the catharsis and lasting satisfaction after a long battle. Whoa!  As my football hero, Steve McMichael says, “That’s the juice, baby!”

The legendary Pere Marquette River

Maybe you’ve heard about great fishing like that in Alaska and always wanted to go—but you can’t spare the time right now.  Hey—who can?  Well, lemme ask you:  Can you invest a weekend?  I’ve found a place with rugged beauty and lots and lots of huge king salmon that’s an easy drive from Chicago.  Leave on Friday, back on Sunday.  That’s right—your first excuse doesn’t hold any water.

But maybe you don’t know how to fish with a fly rod.  Hey, you’re a talented entrepreneur, right?  Given a little gumption, you can do anything.  Well relax—at this place, somebody’ll teach you, and believe me, you’ll learn.  So this second excuse won’t pass muster either.

Kren can’t tie a knot

But maybe you don’t own the right gear.  Well, there are two fly shops in town, so that excuse falls flat too.  But, but…  At some point, you gotta stop making silly excuses.  Either find a way to let off some steam or drag your fledgling venture into a ditch out of sheer personal exhaustion.  That’s not what you want, so here’s the place to go:

Outrageously intense

Every September, thousands of salmon swim upstream to spawn in the rivers feeding the Great Lakes.  They show up, nice and prompt, as if they scheduled an appointment—like they carefully set a loud alarm on their smart phone calendars so they wouldn’t stand you up.  The greatest of these waterways is Michigan’s wild, beautiful, and legendary Pere Marquette River in the Manistee Forest.  Fly fishing only. Catch and release.  So guess why there’s so many fish.

Get your butt out to Bueter’s Salmon Camp near Baldwin Michigan—an easy drive from Chicago.  It’s a famous annual event that draws like-minded anglers, all itching to learn new skills and teach the ones they know, and it’s really informal.  Pitch your tent.  Sit around the campfire.  Eat barbeque.  Drink bourbon.  Tell lies.  Soak in the camaraderie of other eager and intense fishermen.  The motto of camp is, “This is too much fun to keep to ourselves.”  Everybody has a good time.

Happy CEOs

I drove up with our magazine staff and I’m fishing with Jim Kren and Joe Perogi (His real name’s J. P. Pierogiczikowski but nobody can pronounce it.)  For two nights, we make our assault on the river, led by renowned fly fisherman, John Bueter.  He deploys his troops along the stream, each casting to pods of active salmon. This year, the kings average 20 pounds and we hear reports of monsters over forty caught offshore. I’m expecting great things and great things happen.

Fish keep their appointment

This is my first night and I’m casting to an active group of fish holding in an area rimmed by fallen trees.  A big one takes my fly and the fight is on.  This one’s huge and strong and tests the limits of my tackle.  I gotta follow where he goes until he finally tires out, or else he’ll peel all the line off my reel.  It happens.

Pump that rod

Perogi sees all the splashing and commotion and wades over to help.  He tries to net my salmon, but it does a 180, swims between my legs, and snaps my fly rod—like one of those close encounters you hear about sometimes.  Hey, no problem—a fly rod’s just a tool—I got another.  But this bad boy is still hooked, so I fight him hand-over-hand till one of us gives way.  It’s either him or me.

Now he’s in the net and we’re dumbstruck by the size of him.  I can’t even circle his tail with both my hands—this one’s huge—way bigger than I’ve ever seen.  I haul him toward shore to clean off any extra hooks when, wham, he breaks through the net.  So there’s no picture of this trophy, but at least I got a witness who says, “Yeah, it really happened,” and “No, you’re not crazy.”  There’s plenty of time left to fish for more.  And I do.

A close encounter

After a couple nights of this, I’m tired, happy, and satisfied.  It’s back to business with a new level of energy and clearheaded judgement.  Join me at Camp this year!

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When & Where

Salmon Camp runs September 27-29.  Show up Friday afternoon, go home Sunday afternoon.  Come a day early if you want—there’s always room for another happy camper.  Call or email your Master of Salmon Mayhem, John Bueter, so he makes enough barbeque.

Mobile 248-345-1402
Land line 231-745-3070

j.bueter@sbcglobal.net

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Get your butt down to this address. 

3360 South M37
Baldwin, MI 49304

(Behind Cloud 9 Resort)
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Cost is $135.  That’s right—tent site, showers, toilets, a barbeque dinner, a lumberjack breakfast.  All for a hundred thirty five bucks!  Save your money for fishing gear.

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Equipment

Don’t own the gear yet?  No time to shop?  Spend a couple hours at Baldwin Bait & Tackle (BBT) or Orvis after you get to camp.  They’re right in Baldwin.  Show them this list and put yourself in their hands:

  • Michigan all-species 3-day fishing license (you can print it online)
  • Big Dog Fly Rod (8-9-10 wt) a spare is not unwise
  • Quality Fly Reel with super-smooth drag
  • Sink-Tip Fly line (6-12 feet of anything from T6 to T11)
  • 12 to 20 pound tippet
  • Lots and lots of flies (Max hook size 4, single point.)
  • Waders
  • Nippers, Pliers (Hemostats are worthless here)
  • Flashlight and Headlight – Important!
  • Rain Gear
  • Tent, Sleeping bag
  • Don’t Forget yer Bubba

More on this topic

 ALIEN ABDUCTS FISH, THROWS FISHERMAN BACK

 CAN’T KEEP A SECRET

TOO MUCH FUN

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. Please perform your own due diligence. It’s not our fault if you lose money..Copyright © 2019 John Jonelis – All Rights Reserved
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HOW HYPERLOCAL ECONOMIES EVOLVE

By: William Arrington

The original intent for this follow up to Hyperlocal Social Economies (HSEs) was to focus on how businesses can participate in these targeted consumption markets. I think this is an appropriate time to discuss how HSEs may evolve. Before diving in let’s quickly recap what comprises an HSE market:

  • A group of consumers with similar lifestyle and consumption patterns (i.e. friends)
  • Common set of goods/services consumed by the group
  • Competitive market for said goods and services
  • Goods and services are geographically unbound

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TO BE OR NOT TO BE HACKED?

by William Shakespeare,

alias Moises J. Goldman and John Jonelis

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Hamlet—To be or not to be hacked? That is the question. Whether ‘tis nobler to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of phishes, gouged by creatures who boast no scruple, nor affect any purpose higher than foul destruction—and by opposing, end them?

[Editor’s translation—Hackers are a bummer. This is war.]

 

William “Moises” Shakespeare

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Or may say ‘tis wiser to remain in dungeons rank and old—to sleep, perchance to dream—ay, there’s the rub. For in that sleep, what dreams may come? The internet makes cowards of us all.

[Editor’s translation—Should I upgrade the robustness of my internal infrastructure and firewalls?]

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Horatio—But soft, me lord, to think upon the many turns a kindom make.

Betwixt two means shall we choose to take.

[Editor’s translation—There are two good options.]

 

Hamlet—Ay, the dilemma. To guard an angry pack of dogs that tear and rent and hack away till strength and blood be spent—or flee? How wouldst thou fight, Horatio? I would not hear your enemy say you could do it. Nor shall you do my ear that violence.

[Translation—Don’t feed me a pack of lies. If we encrypt all sensitive data and cyber-secure our network we still can’t achieve fail-safe.]

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Horatio—Hear me lord; I make my case:

Should bits and bytes habitate high Cloud

A kingdom’s gold to free?

No arms, no knights, no castle wall to tug a purse’s string so proud!

‘Stead exult in markets, foul of hogs and sheep and goat?

Entice the sorcerer to play in darker art, in unknown moat?

To raise a legion—conquer lands anew beyond the sea?

And so extend a kingdom’s reach?

[Option #1: The Cloud is cheap.  Save your money for marketing, R&D, and expansion.]

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Hamlet —Methinks this boy hath soundly grounded thought. He makes PaaS-ing SaaS at learning dearly bought. It takes no brain to buy his train of thought.

[Seems like a no brainer. The Cloud.  Platform as a Service—Software as a Service. Let’s do it!]

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Horatio —But soft, me lord, I fear foul play!

This Cloud by wild winds be cast astray.

It boasts no force to hole such gauze with tumult and in fray,

And by doing so, steal treasury of intellect away.

‘Tis best, to build yon castle walls of stouter stuff, some say.

Keep bytes and treasure close and spend on fodder and on hay.

[Option #2: The Cloud is way too vulnerable to attack. Update your in-house network.]

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Hamlet —Wouldst thou squeeze gold from a lark? Something is rotten in the state of Denmark. But harken thee—where may best advantage be? What odds see ye?

[That equipment’s really expensive! What’s the probability of getting hacked either way?]

Horatio —Sorcerers be that wouldst draw

Straight crook from snarled oaken saw.

[Mathematicians use probability trees.].

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Hamlet —O cursed spite that ever I was born to set it right! 

[I hate math!]

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Horatio —Of haste take not. Outcomes be but three.

Take heed of which I shew to thee.

[No big deal. There are only three probable outcomes.]

Hamlet—Hold, varlet! A fourth ye lacked—that one repent and not be hacked.

[Hamlet has noticed a missing variable: An enterprise upgrades internal systems and yet escapes hacking.]

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Horatio—‘Tis true M’lord, yet is it moot?

Foes be met; nought ground ‘neath heel o’ boot.

Complication wears poorly on thee.

There be no guarantee.

This outcome we call 1-P3…….(1)

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Hamlet—Ha! There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy.

[Maybe I’m not as dumb as I look.]

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Horatio —‘Tis sooth, my liege—I seek not to deceive.

Perchance I draft a map—deeper knowledge ye may tap.

Yon magic shall appease;

Thy grace’s ire set at ease.

[I’ll make it simple, so even you can see. Take a look at this probability tree.]

 

M’lord do you see?

If systems new and hacking lacking,

Probability is simply 1-P3.

[The probability of an internal network not getting hacked.]

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Hamlet—What make I of this wonder? To ask a fool is to blunder.

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Horatio—Magic formula ye seek, to make right your decision?

Fortunately, Shakespeare knows it with precision.

[Be cool. I got this.]

Look here, dear Ham, and spy yon enterprise,

Floating on the Cloud ’tis wise.

Not to hack or nick sharp blade.

We dig our likelihood with spade.

‘Tis thus: P1+(1-P1)(1-P2)=1-P2(1-(1-P1)………(2)

[The probability of not getting hacked on the Cloud.]

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Hamlet [Aside] Madness in great ones must not unwatch’d go. A screw is loose. He rhymes like Dr. Seuss.

[Horatio’s gone bonkers.]

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Horatio —But hark—magicians work dark secrets in a day

That mortal man can plumb no other way.

I spell it in a cypher so you see

The final answer to this mystery.

[Here dummy, I’ll spell it out for you.]

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Hamlet—Indeed, this must I see.

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Horatio—Floating on a Cloud,

Yon enterprise two chances escape plunder,

To hide from doom, not hacked asunder.

The Cloud foul Russian must attack rapaciously

Before cursed knife shall reach its mark with certainty.

[If your enterprise is on the Cloud, hacking is a two-stage process. The Cloud may get hacked. But even then, your enterprise may escape damage.]

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To ride the Cloud in skies of blue, equation (1) must be less than (2).

Hence:  1-P3<1-P2(1-P1)…….(3)

We boil down that poison thus, and there we gain the clue.

If fates would their due, we sing this song,

Our enterprise will float along.

And thus:  P3>P2(1-P1)

 [This is the absolute condition for an enterprise to go to the Cloud.]

 

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Hamlet—Dost thou think me easier play’d on than a pipe? For ‘tis sport to have the enginer hoist with his own petard, an’t shall go hard.

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Horatio—M’lord salves the ego with a threat.

Is this the way your friends are met?

But hear me, sire, ‘tis plain to do.

I will write it out for you.

Be ye not a foe to the way the numbers go.

Ye shall recall the probability of hacking free be 1-P3.

If wise man, on gauzy Cloud his merit bent,

To the tune of 80%,

The numbers shew:  1-P2(0.2)

[Here ya go, Mr. Bigshot CIO—if the probability of not getting hacked on the Cloud—P1—is 80%, then 1-P2(1-0.8) hence 1-P2(0.2)]

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Hamlet—Still it be Greek to me.

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Horatio —Here, my lord, I will unravel

The way that ye must travel,

To the ending of thy quest.

Be in knowledge, not in jest.

[Gotcha!]

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Hamlet—Get it over before I die.

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Horatio —Here’s an end so ye may rest

Like bones inside a chest.

If P3>(0.2)P2 be true,

To the Cloud get ye hence,

Else makest equipment new

And play yon cards close to thy vest.

[This is how the CIO makes the decision.]

Hamlet[Aside] This be a fellow of infinite jest, of most excellent fancy. He rhymes obtuse like Mother Goose. Yet I shall the effect of this good lesson keep as watchman to my heart.

[Translation—Good! Let’s get some pizza.]

[Curtain]

[DOWNLOAD ARTICLE IN PDF FORMAT]

.Read the sequel – [THE JOB INTERVIEW WITH WILLIAM SHAKES]

NOTE – This example follows similar logic and Decision by Professor J. Sussman used in his lecture to the Engineering Systems Division entitled, DID BELICHICK MAKE THE RIGHT CALL?

[READ BELICHICK PART 1 – PDF]

[READ BELICHICK PART 2 – PDF]

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About the Authors

Dr. Moises Goldman is uniquely involved with STEM (Science, Technology, Engineering, and Mathematics). He is a member of several advisory boards at MIT and is a founding member of the TALENT program at IMSA.

John Jonelis is a writer, publisher of CHICAGO VENTURE MAGAZINE and NEWS FROM HEARTLAND, author of the novel, THE GAMEMAKER’S FATHER. BFA, MBA from Kellogg.

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Photography and Graphics – John Jonelis, MS Office

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. Please perform your own due diligence. It’s not our fault if you lose money.
.Copyright © 2017 John Jonelis – All Rights Reserved
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CHICAGO—THE BEST INCUBATOR IN AMERICA?

by Denny O’Malley

Recently, Inc.com published an article about the best cities for early-stage companies. The premise: Chicago is the surprise winner.

Why would that be? San Francisco and New York are both beautiful, thriving cities that dramatically represent the diversity of American ideas. San Fran—younger, more venture-oriented, with beautiful natural vistas. New York—the classic, bustling private and public equity concrete jungle.

What do they have in common? It costs a kidney to pay rent for a closet. Continue reading

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YOU MIGHT AS WELL DANCE

help-t-ms-officeIT Guys—Stop Playing Defense

by Howard Tullman

Not feeling enough love? Yes, techies are under appreciated until spit hits fan. But if you’re one of them, you’ve got a bigger role to play than you think. Here are three ways to raise your profile.

I feel bad for the guys in our IT department because they suffer the same career issue as the heads of Homeland Security. As we all know, terrorists and other scumbags only need to get it right one time and horrible things happen. Yet our counter-terrorism teams and other law enforcement agencies must try to be right every time. Then, when nothing happens, no one bothers to thank them or offer recognition for their work.

it-guys

People whine about cost, delays, and all the stupid rules. They figure that protecting us is what we’re paying these folks to do. The best the good guys can hope for is a tie. No harm—no foul. And no credit for keeping us safe.

I Don’t Get No Respect

IT departments in almost every business get the Rodney Dangerfield “I don’t get no respect” treatment. They’re taken for granted and get little or no recognition—from anyone—even though the complexity, significance, and risks associated with their responsibilities have multiplied exponentially in the last decade.

Face it, we humans only understand the degree of our dependence on machines and systems when they shut down, data disappears, and systems stop delivering the information we need to proceed.

help-ms-office

The truth is, you can’t do anything intelligent today without solid, timely, reliable, and accurate data. It’s the oil of the digital age and the IT guys are the ones with their mitts on the meters, mechanisms, and measurements. IT infrastructure is the make-or-break gate, tool and tunnel through which everything critical in our data-driven world passes. If they don’t get it right, your business simply doesn’t get done. Relative to your competition, you might as well be in the Dark Ages.

The Tide is Changing

I’ve been spending a fair amount of time with IT teams and I’m encouraged to see a few positive signs.

  • A slowly growing acknowledgement of the importance of IT.
  • Recognition of the turmoil caused by under-investing and under-appreciating the IT team.
  • How neglect exposes your entire company to critical and severe problems.

But time only changes what you don’t change first. I tell all the IT people I meet that they have to be their own best advocates and change agents if they really want to see meaningful improvements and add real value to their businesses.

This is no easy sell. These folks aren’t really built that way.

Selling their ideas is the last thing they ever thought they’d be stuck doing. But the waves of change are coming—and you can swim with the tides or sit still and be submerged.

I’ve found three specific ideas and approaches that senior-level IT folks can focus on to make a serious contribution to the future of their firms.

connected-devices-ms-office

1—Be a Weapon, not a Shield

Playing great defense isn’t enough. The smartest IT players are extracting from the plethora of connected devices and turning the data they develop into “weaponized” information—decision tools that move their businesses ahead by providing better and more timely solutions, both to internal users and outside clients. What gets done is what gets measured. Help your team optimize every aspect of the operation with real-time decision support. That puts everybody in a position to correctly make the most critical calls—like when to double-down on winners and how soon to ditch dogs. Providing increased metrics and visibility is what the best data-driven IT strategies are all about. Money is just expendable ammunition. Data is power and guess who’s in charge of the data?

future

2—Focus on Future

Everything is about the future. We need bridges—not more bandages. The network is the name of the game. Help your team exploit the extensive resources outside of your own shop. Connect your company to critical partners, collaborators, and new technologies that are beyond your four walls. Do it securely, without sacrificing speed, accuracy or ease of access.

Make sure your people are an active and effective part of all the “social” conversations that concern your business because these new channels are changing the way we all confer, compare, communicate, and consume. Unless your products and services are part of the ongoing conversations and decision sets, when the buyers are ready to buy, you’re nowhere.

Holding down the fort isn’t enough; you’ve got to do more than simple maintenance because your business needs a vision and a path forward—not another Mr. Fix-It.

be-the-solution

3—Be In the Room Where It Happens

If you don’t ask, you don’t get. As a senior IT professional, step up and insist that your presence and your input is central to securing the best solutions for the business. If you’re not there, if you don’t have some skin in the game, if you’re just a spectator, then the changes that do happen will happen to you, not through you. It’s not always safe to step up, but it’s the smartest bet you can make. If you don’t believe in yourself and your abilities, who else will? And take my word for it; waiting never gets you to a better result. The world is moving too quickly to give anyone the luxury of time. Just like in racing, you need to understand that no one waits for you.

If it’s any consolation in these tough and troubling times, just remember that they’re going to blame you for anything and everything that goes wrong anyway. So, if you’re already walking on thin ice, you might as well dance.

howard-tullman-double-gulp-t

Howard Tullman is the father of Chicago’s 1871 incubator.

Read his bio on Wikipedia: https://en.wikipedia.org/wiki/Howard_A._Tullman

Check out his websites at http://tullman.com/

and http://tullman.blogspot.com/

Write him at 1871@Tullman

Image credits – Howard Tullman, Getty Images, MS Office

This is an excerpt from an article in INC.

http://www.inc.com/author/howard-tullman

Image credits – Howard Tullman, Getty Images, MS Office

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.
.Copyright © 2017 John Jonelis – All Rights Reserved
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HOW BAD IS IT

bobs-bad-poetry-swtby Loop Lonagan

Lotsa people keep tellin’ me good things about Bob’s Bad Poetry so I’m checkin’ it out. Yeah, yeah, I know what yer thinkin’. But there’s no law against an angel investor goin’ in fer high culture. That’s right, I like literature ‘n’ modern art too—’specially the abstract stuff. You got some problem with that, bud? Hey, me fodder and me mudder’s both Irish ‘n’ both poets, so’s I got it in da genes. Maybe you already figured that out from da way I talk.

And hey—dis ain’t just any poetry—it’s high tech—performed exclusively on da internet. Maybe it’s a startup company! Y’know how I like t’ invest in them. So I ask ya—lookin’ at da macro picture—with this lousy economy, dis goofy election, crime ‘n’ all—can it be that hard times once again spawn a renaissance o’ creative juices? Will demand fer artistic expression skyrocket like it done in da 60’s? Doncha wish you invested in Mick Jagger or Paul McCartney back then? Could it be that bad poetry is da next growth industry? Sounds like a winner t’ me! But how d’ya make a thing like that fly?

I sneak onto You Tube while da boss ain’t lookin’. He’s over dare, behind his big fat beat-up WWII air force desk tyin’ flies. Yeah, flies! Fer fishin’! Guy’s got da worst case o’ writer’s block I ever seen. He won’t notice me takin’ in a little culture. Don’t seem to notice nothin’ nowadays—unless it’s new fishing gear or maybe a Cubs game. Yeah, he put in a big-screen TV and DVR here at our corporate offices in the backroom of Ludditis Shots & Beer—just so he don’t miss a single inning.

ludditis-shots-and-beer-500

Our Corporate Offices

Whoa—look at dis site! This is fer real! Bob’s pumpin’ out a new poem every single day. Weekends too! I watch five of ‘em and find myself feelin’ real, real good—kinda grinnin’ to myself like I just downed a big mug o’ prime porter and lickin’ my lips. But beer costs money and dis poetry site is entirely free! Don’t cost me a single dollar! And only five minutes goes by! Yeah, deeze poems is all short—real short—just da way I like ‘em! So I subscribe, just to make sure I don’t miss any.

bobs-bad-poetry

Bob Badpoet

Can high culture be good fer a guy and this much fun too? Bob’s Bad Poetry. Looks to me like a creative genius maybe figured a way t’ use dis high tech world t’ make money—in an industry where nobody made money before! And if he’s revenue positive, dat’s what I call da businessman of today! If he’s selling shares, I’m in!

And if you don’t believe me, see fer yerself. Click here: BOB’S BAD POETRY

 

Please listen to poetry responsibly.

Graphic by Jennifer Otsuka

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2016 John Jonelis – All Rights Reserved

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APPLESAUCE AND APPLE

THE FINANCIAL MINDSET OF A NEW GENERATION

Tom McBride and Ron Nief

Light Bulb

The students who began college this past fall have a forty percent chance of graduating in four years, and a seventy percent chance of graduating in six. Having grown up in the Great Recession they can rarely take money for granted. They are more interested in money than in love, unlike their parents, who may have grown up as hippie advocates of free love during the far more prosperous 1960s.

But it’s possible that the old hippies are their grandparents: yep, that much time has passed.

They expect to graduate from college in debt, but they must also worry about what sort of job they can get to pay it off. They are all too keenly aware of how easily a sophisticated algorithm can replace human beings in the performance of even high-tech tasks. They know that jobs—maybe including one that has their name on it—can be outsourced cheaper overseas. Some of them are growing up in states like Florida where governors are pressuring universities to explain the financial prospects of their various major fields. They might love philosophy but decide to major in Geriatric Studies—perhaps the United States will run out of articles on Aristotle sooner than it runs out of old people living longer and longer.

Since they were about twelve years old the stock market has run a gamut of about twelve thousand points. The most precarious roller coaster at the nearest amusement park seems tame in comparison. They wonder if they will have the guts for investment in this sort of market when they aren’t risking whiplash in their necks (unlikely with the roller coaster anyhow) but cavities in their pocketbooks. Yet at their young age it’s silly to worry about the long-range future, right?

Still, they know they are coming of age in a world where pensions are becoming as infrequent as desktop computers, and where they may have ninety-five year old great grandparents still vacuuming up Social Security and Medicare. They’ve been told that a member of the generation just behind them may live to be 140 years of age. Where will the money to sustain so many geezers come from? Well, it’s too far off to panic now.

The financial hero of their generation is not old Bill Gates but young Mark Zuckerberg, who came up with Facebook. They dream about formulating some high-tech enterprise that will make billions of dollars for them, too. But what might it be? Replacing passwords with high-tech facial identifications? Nah: it’s too late for that—the research is already underway. When they were having their baby food applesauce, Apple seemed to be a company that had seen its best days. Well, look at how that turned out, so for them fantasies of high-tech riches spring eternal.

Rather anxious about money, they are frugal. There’s only a six-in-ten chance they have a credit card. They go debit, thank you. They’d rather have a new tablet or phone than new car. Autos are more expensive and not so necessary. They know a lot more about chips than about carburetors. They tend to congregate after graduation in cities with public transport, and they are a keen ride-sharing generation.

Besides, with Skype who needs actually to go there? One thing they don’t expect if and when they do get a job: lots of face-to-face conversation. It wouldn’t surprise them to learn that they will spend most of their working careers in their apartments—and of course in cyberspace.

They may become the first generation for which there will be scant old-age welfare, and yet also the first for whom it is largely unnecessary to leave the house for anything. Graphic virtual vacations to Venice may be on their way two decades hence, and they’ll be at lot cheaper than going there.

During their lifetimes the price of a first-class stamp has risen 65%. Maybe this has something to do with decreased demand for them. Theirs is a generation that rarely “writes” letters placed into envelopes with stamps attached. Going to the P.O. is hardly a ritual for them.

In their lifetimes K-Mart and Target have always been going in opposite directions. They expect similar corporate unpredictability in a world where popular websites can change every five minutes. They do not expect to stay with one company for long.

They hear about income inequality constantly and may cynically conclude that a rising tide lifts all yachts. Yet both the libertarian Republicans, who appeal to their sense of entrepreneurship, and the progressive Democrats, who promise to close the gap between rich and middle-class, appeal to their economic instincts, however unformulated as yet.

The one thing they should not give up on is education. One study concludes that if every high school student had the skills of every college student, the former would make $28,000 more per year. A Harvard study says that having just one good teacher for only one year can increase lifetime income by $80,000. In a time of gyrating stock markets, rising inequality, and scary high-tech chaos in the job market, it is easy to become cynical about an assigned term paper on the Thirty Years’ War.

But it would be foolish not to complete it, and get a high mark for doing so.

Tom McBride and Ron Nief are co-authors of the annual Mindset List® and of two books: The Mindset Lists of American History (Wiley, 2011) and The Mindset List of the Obscure (Sourcebooks, 2014). For their Financial Mindset List for the Class of 2018, go to http://themindsetlist.com/2014/10/financial-mindset-list-class-2018/

Photo credits – MS Office

Adapted from News From Heartland – the Journal of the Heartland Angels

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2015 John Jonelis – All Rights Reserved

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