Archive for the 'Business' Category

Interview with Jon Fjeld

The Center for Entrepreneurship and Innovation (CEI) at Duke’s Fuqua School of Business is now publishing a newsletter called Entrepreneurship360. The newsletter’s aim is to keep students, alumni, others updated on Duke’s entrepreneurship efforts. The first issue features interviews with several faculty and Duke alumni.

For this first issue, I contributed an interview with CEI Co-Director Jon Fjeld:

I was first introduced to the Center for Entrepreneurship and Innovation, and its co-director, Jon Fjeld, slightly over a year ago by recommendation of my advisor. “Jon used to teach philosophy,” my advisor explained, “but he’s also built technology companies – he’s certainly has a very unique background. Now he co-directs an entrepreneurship program at Fuqua.” A philosopher and academic who runs technology companies? I was used to stories of entrepreneurs who dropped out of college, not finished and began teaching!

I quickly learned that this unconventional background is important because the Center for Entrepreneurship and Innovation and its mission are also unconventional. Jon discusses his unique background in the interview below, and he explains that it is this unconventional background, along with the mixed and unconventional backgrounds of the others involved with the Center, that bridges the gaps between academics, students, and practicing entrepreneurs. Enabling collaboration between each of these groups of people also means enabling interactions between what each group spends most of its time doing: research, education, and business building.

The Center is valuable because its not just research, not just education, and not just business building. It combines interactions of each type to support a single overall mission, which Jon outlines in the first question of the interview that follows…

To read the rest of the interview, visit the Entrepreneurship360 newsletter website.

Internet Usage Declining?

This is a bit interesting…

http://techdirt.com/articles/20080811/1953451953.shtml

Revolutionary changes to the Internet are appearing less often, but by no means does that mean a decline of usage is on the horizon. If anything, it only means the Internet is now entering utility phase (first sign for me? my grandmother has an email address and has “heard” of Facebook). The door is closing for massive changes to the Internet, but the door is opening for a series of small changes and small/medium sized companies. Opportunities to make money are still out there — just in a different way.

Lone Rider Brewing Company

Today I visited a true brick and mortar start-up during my lunch break — an odd experience when I’m used to seeing only code and design ideas scratched into a journal. Sumit Vohra, who I met at one of Ryan Allis’s parties several monthLone Rider Brewery - Outsides ago, offered last week to show me the progress he and his partners have made on LoneRider Brewing Company. I happily accepted his offer, and met him today to check it out.

I had no idea that starting a brewery required so much time and capital. Being around web entrepreneurs so often has shown me only one path, where the up front costs to get running are low. Sumit has been working on the brewery for over 6 months, and he and his team are still around a month or so away from opening up.

This is a picture from outside the brewery. The building is very non-descript; just a standard warehouse type building a quarter mile off a main road. There are plans to transform the outside a bit more, but for now, the focus is on getting the equipment up and running, which you can see in the picture below.

Lone Rider Brewery - InsideSumit and his team put together all of the equipment themselves, with the help of some other brewers and electricians to make sure everything was properly designed. The place is already very impressive, and there’s still a couple weeks worth of aesthetic work to finish before opening.

I’m already a huge fan of local breweries Red Oak and Big Boss. However, I’m not sure if either of these breweries can match the Lone Rider experience. Lone Rider should be open by the time I come back from California. If you hear that I’m back in town, you now know where to find me.

Notes from Flow - The Psychology of Optimal Experience - Part 1

Below I’ve listed some key ideas and notes (along my thoughts and conclusions at the end) from Flow - The Psychology of Optimal Experience, a book by Mihaly Csikszentmihalyi:

  • So how can we reach this elusive goal [happiness] that cannot be attained by a direct route? My studies of hte past quarter-century have convinced me that there is a way. It is a circuitous path that begins with achieving control over the contents of our consciousness. (pg 2)
  • Yet we have all experience times when, instead of being buffeted by anonymous forces, we do feel in control of our actions, masters of our own fate. On the rare occasions that it happense, we feel a sense of exhilaration, a deep sense of enjoyment that is long charished and that becomes a landmark in memory for what life should be like. (pg 3)
  • It is how people respond to stress that determines whether they will profit from misfortune or be miserable. (pg 7)
  • How we feel about ourselves, the joy we get from living, ultimately depends directly on how the mind filters and interpret everyday experiences. Whether we are happy depends on inner harmony, not on the controls we are able to exert over the great forces of the universe. (pg 9)
  • Though the evidence suggests that most people are caught up on this frustrating treadmill of rising expectations, many individuals have found ways to escape it. These are people who regardless of their material conditions, have been able to improve the quality of their lives, who are satisfied, and who have a way of making those around them also a bit more happy… …Such individuals lead vigorous lives, are open to a variety of experiences, keep on learning until the day they die, and have strong ties and commitments to other people and to the environment in which they live… Perhaps their greatest strength is that they are in control of their lives. (pg 10)
  • …after each success it becomes clearer that money, power, status, and possessions do not, by themselves, necessarily add one iota to the quality of life. (pg 13)

There’s so much great content in this book. This particular passage highlights something I’ve slowly observed as I’ve entered and exited various kinds of societal systems ( schools, family, friend groups, athletic teams, etc.):

Caught in the treadmill of social controls, that person keeps reaching for a prize that always dissolves in his hands. IN a complex society, many powerful groups are involved in socializing, sometimes to seemingly contradictory goals. On the one hand, official institutions like schools, churches, and banks try to turns us into responsible citizens willing to work hard and save. ON the other hand, we are constantly cajoled by merchants, manufacturers, and advertisers to spend our earnings on products that will produce the most profits for them. And, finally, the underground system of forbidden pleasures run by gamblers, pimps, and drug dealers, which is dialectically linked to the official institutions, promises its own rewards of easy dissipation–provided we pay. The messages are very different, but their outcome is essentially the same: they make us dependent on a social system that exploits our energies for its own purposes.

There is no question that to survive, and especially to survive in a complex society, it is necessary to work for external goals and to postpone immediate gratifications. But a person does not have to be turned into a puppet jerked about by social controls. The solution is to gradually become free of societal rewards and learn how to substitute for them rewards that are under one’s own power. This is not to say that we should abandon every goal endorsed by society; rather, it means that, in addition to or instead of the goals others use to bribe us with, we develop a set of our own.

Most entrepreneurial disruptions to economic and social systems occur because someone or something from outside a system makes a change that those within a given system cannot understand. There is an apparent corollation between entrepreneurial success and independence from economic and societal systems. Many aspiring entrepreneurs that I know understand this point.

But there is another closely related point that many aspiring entrepreneurs do not understand. Once a change is made, that change must fit back into the system. You built a cool widget — but will the masses actually use it? Because if you think your widget is the coolest thing on earth, but no one else does, you don’t have a business.

Entrepreneurs break the system in order to fix it, and often times they do it unintentionally.

The No Muscle

I’ve been working lately on my “no” muscle. In high school, I was sure I was working as hard as I could. Though, when I compare my work during high school to the work I did in college, my high school years seem like a breeze. The reason behind this is that in college I crossed a point of no return. Suddenly there were more and more opportunities I wanted to pursue, but there was never enough time in the day to complete everything. When a person reaches this point, he or she must learn to build a no muscle. Its impossible to get anything really big finished without learning to say no. There will be distractions throughout life, its only by learning to focus energy that we can accomplish our goals.

Here’s a quote from a Boston Globe article from around a year ago that talks in detail about learning the art of declination:

If self-control can tire like a muscle, then one intriguing corollary is that it can also be built up like a muscle - and some research seems to say this is true. “Targeted effort to control behavior in one area, such as spending money or exercise,” write Baumeister, Vohs, and Florida State’s Dianne M. Tice, in the latest issue of Current Directions in Psychological Science, “lead to improvements in unrelated areas, such as studying or household chores.”

One practical implication of the muscle, or “ego depletion” model, is that you shouldn’t overburden your self-control. “If you are having a little bit of a problem with weight gain,” says Vohs in an interview, “you should work on that but realize that this is not the time to curb your spending when you go holiday shopping,”