Category: Entrepreneurship

Crowdsourcing Tuition and James Altucher on the new startup idea


I opened up a GoFundMe campaign to see how it would help to raise the money for the PhD. I actually want to see how it would work. Of course if it works, it will certainly help! After setting it up, I felt cheap to share it on Facebook. I was skeptical as to what people would think. Would they think that I am begging for money and I am dead broke? Would they think ‘what the heck is wrong with this guy?’ So I started asking a few folks around.

First I asked a friend of mine, a serial entrepreneur who had a very good exit. I asked him what he thinks of the GoFundMe campaign. He waited a while and said “my immediate reaction is that your education is what you should pay for. most people aren’t denied education because of funds.” He has a point in a way. It is true that most people aren’t denied education because of funds. It is the cases in States, people are denied education for parents pure stupidity, laziness and many other things. This is mainly in the western world. In certain parts of the world, people are denied education for many other factors such as religion, poverty, lack of opportunity within the system and many other things. So there’s definitely two sides to this argument.

Then I asked another friend, James Altucher. James is known for several of his very successful exits, podcasts, talk shows and of cause the books. He wrote several NYT best sellers. I had a short but a very interesting chat with him. I thought I would share some of it, because it may help fellow entrepreneurs. I, again, asked him what he thought of the GoFundMe for the tuition. I asked, “Does it look cheap to crowdsource the first year’s PhD tuition?” and his immediate reaction was “No! you should try it and see what happens!“. I kinda felt relaxed. After getting that out of the way, I told him what I was working on. Below is the conversation after that. He points out several key things.

SP: yeah, thats what I thought too. Chamath just funded an exact copy of ******* product I was working on and now I am working on a different one. A platform that will enable startuper to take an academic (PHD) route. My thesis is going to be on that too.

JA: neat!

SP: Startupers have a lot of research knowledge, why don’t they get a PHD for it as well. That will also enable universities to build a great portfolio as well..

JA: yes, some schools are starting to do that. like Georgia Tech here in the US and schools often take a piece of any tech that is developed on campus like I bet Stanford got a piece of google for instance

SP: exactly! People here think Im crazy when I say this.

JA: you should get all the data together. show how much money each university has made in the past 2 decades of spinning off startups. CMU made hundreds of millions on Lycos for instance

SP: Yeah, I am working on collecting the data. I need to figure out a way to keep things running to work on this full time. Its very difficult to juggle too many balls at the same time

JA: No it isn’t. don’t tell yourself that. the only way to succeed is to juggle more than you think you can juggle. Else, everyone would do that! the average multimillionaire, for instance, has over 7 different sources of income

SP: mmh.

JA: when I look at what I’m doing: I do books, blogs, podcasts, i’m on the board of 2 companies with billions in revs, and I’m an investor in over 20 cos that i keep active in. i’m not bragging when i say that. that’s all just simply what i do. and i have to do it because that’s where everything i have done before has led me. Today i had to put on at least 5 different hats just to keep up with things. or, rather, to stay ahead

SP: So you think the idea is worth pursuing?

JA: not as a PhD, no, unless you want to be an academic. But, perhaps there is a better way to do it. you collect all the data and then help universities set up their own incubators

SP: I was thinking, if I get in an academic setting, it might be easier to get the word out.

JA: yes, but a PhD will take you 5 years or more. The world will be different then.

He makes several key points. Pursuing a startup in an academic setting, specially for a PhD might not work, but launching of the startup can really be done in a few months. Most of the research would have to be focused towards getting the academics and universities within the framework we would build, not to mention the endless amount of work that will be involved in building a framework PhDers would follow to create a startup.

As for the GoFundMe campaign, I asked several others and they had mixed responses. Most of them were ok with it and said should give it a try! I am going to leave it up and see what happens.

Binding the PHDs with Startups

PHD Thesis

Most of the STEM (science, technology, engineering and mathematics) PhD students who want to pursue career in academics end up in corporate or non-academic work, according to Eva Amsen. This is mainly due to repulsiveness of the work place in academia and as well as the benefits offered at non-academic settings. The academic job market has gotten tighter for last decade or so due to many reasons. Alternative education platforms have come up and they seem to work much better, TreeHouse for an example. Currently, TreeHouse delivers its courses to more students with zero debt at the end than all US CS departments combined. That’s just within 3 years! Then there’s the issue of getting the accreditation from a university with a huge student loan debt at the end and it is the biggest debt that the US has faced now. That is a debt that won’t go away even if you file bankruptcy. People are looking for skills-based approaches in their professional development than the standard academic route. Tech giants like Google has openly said that they really don’t care about hiring the top college graduates.

Wealth creators

In my perception, startups are more wealth creators than any other out there. Wealth is not money. Wealth is how you want to live, what you want to own, wherever you want to travel, etc. Several hundred years ago, people had wealth without money. They exchanged tangibles and as well as non-tangibles. Money is really just a medium that helps move wealth from one place to another. Irrespective of how much money a startup makes, it creates more wealth than some of the large corporations. Let me explain. A startup that makes a million dollars a year may influence and create more wealth than a corporation that makes a hundred million a year. For an example, a startup like Task Rabbit that enables people to hire someone to run their errands may create more wealth by allowing people to have freedom and may be making someone make a few extra bucks by doing a side job. The more startups out  there, the more wealth that is created.

Does a PhD mean success in startups?

Absolutely not. It is scientifically proven that startup success has no correlation to age, gender, race or the academic background. One good exit in a previous startup also does not mean that there will be another one either, although the experience will certainly help. It is also seen that the successful startup entrepreneurs had no better ideas than the unsuccessful or no-so-successful ones. There are a lot of dynamics that come into play like the location, funding, skills and certainly luck as well. You can build the best product with the smartest people and have a bad market-fit. The fact that you will have a PhD adds a level of credibility and recognition. For a startup founder, funding, making contacts, help of the peers, support of the family, etc are very important factors. The fact that you have PhD, it makes it easier in many ways to take a startup route. You have access to low interest rates, academics, access to people and the list goes on.

Why PhDs should take a startup route(Or the other way around)?

PhDs should take a startup route and startupers should also take the PhD route. From what I have read and people I have spoked with, a PhD is more like running a startup. Searching for a supervisor is like looking for the first customer. Getting a manuscript approved is like finding an investor. They all share the same level of uncertainty and stress. Both PhDs and Startupers have deep knowledge in whatever the domain they work on. The only real difference is that a startuper would not have the work documented the same way a supervisor or the university would want to have for a PhD. Wether a startup makes it or fails at the end, it would still add value and contribute knowledge into the ecosystem. For a startuper, a university may give a great platform to speak and network. In some situations, the startup route needs pure disruption in a very unpredictable manner and in certain situations it may require some level of discipline and that can very well be added by your supervisor.

What is in it for the University and for the Startuper?

Universities certainly would want their students’ researches to be converted into successful startups. It adds value and looks good on their portfolio. As for the startuper, it gives him credibility to have a PhD. In reality, startupers put so much effort and research into building a product and better or for worse why not have a PhD for it?

What if there was a community and a market place that matched the right supervisor with the right startuper to bind the two dynamics? A service that would guide a PhDer to create a startup based on the research they are into?

Less is More: The Minimalist Entrepreneur

Hamster Wheel
Hamster Wheel

If you have been working 18 hours per day, you’d exactly know what I’m about to write about. Micro-managing and trying to be involved too much in everything is a disaster. It effects your productivity, creativity and causes a lot more stress than you’d anticipate. I’m not necessarily talking about ‘lifestyle-type’ businesses here and I’m not really a fan of those either. Although they may seem to make money, having the need to have certain type of a life style and building a business around it doesn’t look that exciting. Anyway, what I do want to talk about is dealing with the minimum number of unwanted issues to focus on the areas that are most important for your startup! Here are few hacks to do so.

Figure out what matters most. It doesn’t matter what scale your startup is at, there are things that matters the most. Figure those out. Spend the time on what matters most and try avoiding the things that doesn’t make an impact. If you are just starting out, read The Lean Startup, practice Validation Board by Lean Startup Machine. Identify what makes your startup progress each day.

Disconnect from people who don’t bring a positive change. It can even be your own family members. If they are not adding any value to you or vice versa, disconnect! Else it will only drain your energy down for no reason. Surround yourself with people who inspire and mentor you.

Don’t get involved in all kinds of businesses. You just can’t be successful in 50 different kinds of products or services. You can’t run a good design agency, while building a product, while trying to custom code for other businesses and doing private consulting work.  It simply doesn’t work. Select a niche. Focus. Master it day in day out. Read more about Malcolm Gladwell’s ‘10000 hour rule’ on the book Outliers to get a sense of mastering a niche.

Go Cloud. Try to use as many cloud services as you can. There are cloud services for basically every aspect of the business process. Whether it is maintaining a code repo or having your own personalized phone service, there’s always a hosted solution you can choose. Handing over all the maintenance for a small fee is much less time consuming and much more productive in the long run than trying to maintain these yourself.

Try to stay paper-less. Having a deal with printed contracts, faxes, accounts books and everything else in between is a disaster. There are services to keep you up-to-date with a very minimal fee.

Be equipped with the most wanted not the most amount of things. Being a startuper requires a lot of travelling. You always need to base yourself where the next best opportunity lies. Unless you are in to some sort of a work-from-home type of a business or those ‘lifestyle businesses’ I mentioned earlier, you have to travel. There’s no alternative to it. Identify the gadgets or objects that makes you most productive and get rid of the rest. Maybe you don’t always need the latest iPhone that comes out every 6 months unless you are specifically building something for it.

Reducing doesn’t always mean de-cluttering. I usually have messy work spaces. Messy work spaces make me more creative. Some of the most creative powerhouses have had the messiest work spaces.

Quit running after fame! If you have made some money and want to buy a few luxury things, that’s fine. But quit trying to get yourself into a Hamster Wheel by maximizing the amount of things you will have to deal with in a day today basis. That drains your energy down. While you are on a certain stature with these among your friends, family and of cause the public, it needs constant overlook and attention. It can be maintaining your luxury house or the vehicle or consumes so much time you should be putting into the business. If you really really need to have some of these, hand it over to your significant other or someone whose close enough to be trusted.

You can always follow Lifehacker and they put out a lot of productivity tips and hacks to make things easier in life.

How To Avoid Startup Execution Mistakes in Product Development

Didn't execute soon enough?
Didn’t execute soon enough?

I had a pretty detailed chat with two visionary entrepreneurs in Sri Lanka yesterday, without even realizing we had talked over 3 hours. We talked a lot about execution and why it is important for any startup with products in the technology space. Execution is not just traction. Executing on an idea involves building the product as well. Here are some guidelines for startupers to avoid execution mistakes in product development. This information will best serve startups, on a lean budget, working on an innovative web or mobile product. Will not fit best if you are a corporate over 100 employees, working on the third version of the mobile app for a financial software that’s been in the market for 5 years! Hope you’d get my point..

1. Never Hire Developers from Outsource/Offshore Business Models – They simply have different DNA. Its almost impossible to change the service-oriented mindset to a product mindset. Product development is lean and very agile. The definition of ‘Agile’ is far different from one another. Developers from traditional outsource models tend to work with larger corporations and they are used to getting 300 page SRS documents. If you are working on a product, you can write the 300 page SRS for 6 months and your product will not have a market fit by the time you are beginning to code. If you have one of these types of developers leading a development team, that will be even worse! Remember, sometime, you only need to stay 6 months ahead of the rest to “make it!”

2. Technology Research – It is much more productive when the hackers themselves work on the technology research oriented work together. Just guide them! You are not going have enough time for your CTO to do the research on whatever the technologies you’d want to use and have him transfer the knowledge over to the developers. This happens in tradition outsource models, but it will not work for startups, rushing to get the product out or trying have a MVP ready to raise money.

3. Have Flat Discussions – If you have a team of 5 developers working on the product with a CTO, it’s not always best to make all decisions based solely CTO’s comments. When you discuss technical issues, get the whole team involved in it. Sometimes fresh developers tend to see product problems and its solutions much clearer than the experienced CTO.

4. Innovation Happens in Smaller Teams – During the product development phase, until you get the right market validation, keep the team as small as possible. Just make sure they are the best you can select. Innovation is best in smaller teams. When you have 20 developers or 5 MBAs in a room discussing the features, it won’t get anywhere. You will be ideating the product than building it.

5. Rapid Iterations and Deployments – It is extremely difficult when you have many hierarchies to develop a product. Your findings will change what you’d want to build basically EVERYDAY! The feature you so wanted two days ago, will be the last item you wanted built today. You will for sure have good reasons for it, but only you will understand. If your team is not used to this, they will probably think you have no idea what you are doing and they will probably say (with a lot of frustration) “this cannot go on!” That’s the last place you will ever want to be. Read Eric’s Lean Startup if you need help in this area.

I once worked on a product called “Get Interaction” for two years, trying to get the product out and by the time I was able to, LinkedIn integrated every little feature we had developed through an acquisition they did. That’s should be another post!

I’m working on a new product to measure skills. I want to make it the standard for Skills Measurement. Sign-up to get early access.

The Startup Depression and Entrepreneur Anxiety

Aaron Swartz at a Boston Wikipedia Meetup
Aaron Swartz at a Boston Wikipedia Meetup (Photo credit: Wikipedia)

It is with deep sadness I am writing this post that the founder of Ecomom, Jody Sherman passed away. According to Pando Daily, the news on his death is pretty scarce. This is the second in a raw, after Aaron Swartz hanged himself in early January. I have dealt with pretty dark moments myself in my entrepreneur career and the Startup Stress does make you feel suicidal at times. In most cases, the inability to give up and start over does make you anxious and depressed. If you are one of those people who clock-in and clock-out on a daily basis, this post is not for you!

I have learnt many things in my entrepreneur journey and here are some tips for you to avoid being depressed and anxious running a startup.

Hire the right people, the culture matters! I have hired and fired many people in my career, both as an employee and an employer. I hire for culture. I always say ‘I don’t care if you have all the skills you need to do what I am hiring you to do, but what matters is whether you have the passion to learn whatever it takes to do whatever I am hiring you to do!’ I had been doing this for a long time and Brad Feld summarized this in one of his interviews with Jason at This Week in Startups. Look at the diagram below, so you have 4 different kinds you can hire.


#2 people are must hires. #1 you can hire and if they have the passion, they will learn whatever they need to learn fast! Be careful when you hire #3. I usually don’t hire the #3s.  #4 is a definite no. If you come across a misfit for your culture, fire fast! Don’t expect them to change and be agile to the culture you want.

Fall in love with someone who’s as crazy as you are! As an entrepreneur, you will always be doing crazy things. There’s risk in every move you make. Nothing is set in stone. You are dealing with extreme uncertain situations all the time. Your wife or girlfriend has to understand what life is like for an entrepreneur. Don’t get involved with someone who likes regular jobs and who wants to ‘settle down’ as quickly as possible. At the same time, make sure your partner keeps you sane and align with everything you do in your life. They might not understand everything you do in a business, but they will need to understand the basics in a relationship like, being there for each other no matter what or calming you down when you are pissed off! You will be up late night all night, you will read emails when you are having sex, you will not be able to have dinner together like they always wanted to and there will be many things you will have to do that ordinary people might not do. Here’s a great piece David Brim’s girlfriend Lindsey Ament wrote on 10 Things a Startup Entrepreneur’s Valentine Should Know!

Don’t hire friends! I have had pretty bad experiences in hiring friends. You might think that they will do whatever it takes, because you knew them for so long, but you will be wrong in most cases. Don’t hire friends if you have not had any chemistry with them in the past in doing something together. It becomes so complex when your friend doesn’t do what you want him to do and you hope he or she will change at some point. You are not able to fire the person, because you don’t know how that would affect the relationship between families, what other friends would talk about what happened, etc. It’s not worth the effort. I simply don’t hire friends if I hadn’t done anything with them in the past. I have a friend who’s a great partner of mine in my business and we have done a lot of things together in the past. We have played in the baseball team together; we have run a small business when we were in high school. Unless you have chemistry like that in some sort, don’t hire them. Just because of the fact that a friend does talk about doing something different and wanting to be the next Steve Jobs doesn’t make him one. This is a different kind of a ball game, not everyone can do it, and else everyone will be doing it. Most of the school friends I have come cross want to make some extra money. They are not there for a socio impact. If money is the first motivation, you can’t do this job!

Only raise money from people who have invested money in tech! Tech valuations are different. You cannot calculate ROI like you would do at a restaurant. I have gotten offers from people are investors, but in different domains. I have turned all of them down. Only a tech investor would know what you really need. If you are doing a seed round of $50K for a product, a tech investor would only ask for 10% equity where as a non tech investor would ask for 50% equity. Just because the 50K is available sooner with a non-tech investor, don’t get the money. Remember, this is something you will be doing all your life. You will only need to partner with people who can understand what you will go through and who will be there for you for your problems. Angels are not just there to give you money. If they cannot advice you (which means they would have to go through what you are going to go through in your start-up journey), they are not the best fit for you!

Be comfortable being uncomfortable! There’s no other option. Running a start-up is an uncomfortable thing. You are learning new things every day. You will have to do thing you don’t want to do. That is the nature of it. Once you bang your head on the wall couple of times and settle down, you will get used to it. There are much bitter situations in running a start-up than actually glorious moments. If you think that it changes after you raise money or after you go IPO, you are wrong. People will talk about you. Get used to that!

The fact that running a start-up is a constant battle and it is not going to change. What matters is how comfortable you are dealing with these situations. Some will ruin their lives running a start-up  Startupers are a cult. They will share their darkest moments in life. If you are depressed, go and talk to one who has been there in the past. Keep in mind that life in much more than you think it is!


Editor’s note:Cherian Thomas is founder and CEO of Cucumbertown, a recipe-publishing platform. Follow him on his blog and Twitter.

For entrepreneurs, it is now both easier and harder to raise capital: easier because of powerful platforms like AngelList; harder if you’re not part of an accelerator or don’t have a strong network.

Silicon Valley has more startups than ever before. My startup, Cucumbertown, raised its first round a month ago, and during the course of this journey, I realized that, as a first-time entrepreneur without any solid Valley footing, my run toward raising funds as a non-American co-founder was somewhat unique.

Valley funding used to be an impenetrable fortress that opened up only by way of introductions. Your success in raising capital decreased to insignificant levels otherwise. The only other chance to make yourself noticeable was traction, which trumps everything. But the market dynamics of fundraising is…

View original post 1,107 more words

Startup Act 2.0: The Bipartisan Job Creation Plan

U.S. Senators Jerry Moran (R-Kan.) and Mark Warner (D-Va.), along with Marco Rubio (R-Fla.) and Chris Coons (D-Del.) introduced Startup Act 2.0 – bipartisan legislation that picks up where the JOBS Act left off by doing more to jumpstart the economy through the creation and growth of new businesses. Startup Act 2.0 builds upon the original Startup Act, introduced by Sens. Moran and Warner in December 2011, and the AGREE Act, introduced by Sens. Coons and Rubio in November 2011. Startup Act 2.0 includes the following provisions.

  • Creates a new STEM visa so that U.S.-educated foreign students, who graduate with a master’s or Ph.D. in science, technology, engineering or mathematics, can receive a green card and stay in this country where their talent and ideas can fuel growth and create American jobs;
  • Creates an Entrepreneur’s Visa for legal immigrants, so they can remain in the United States, launch businesses and create jobs;
  • Eliminates the per-country caps for employment-based immigrant visas – which hinder U.S. employers from recruiting the top-tier talent they need to grow;
  • Makes permanent the exemption of capital gains taxes on the sale of startup stock held for at least five years – so investors can provide financial stability at a critical juncture of firm growth;
  • Creates a targeted research and development tax credit for young startups less than five years old and with less than $5 million in annual receipts. This R&D credit is designed to allow startups to offset employee taxes – freeing up resources to help these young companies expand and create jobs;
  • Uses existing federal R&D funding to support university initiatives designed to bring cutting-edge research to the marketplace more quickly where it can propel economic growth;
  • Requires all government agencies to conduct a cost-benefit analysis of all proposed “major rules” with an economic impact of $100 million or more. This new requirement will help determine the efficacy of regulations and their potential impact on the formation and growth of new businesses; and
  • Directs the U.S. Department of Commerce to assess state and local policies that aid in the development of new businesses. Through the publication of reports on new business formation and the entrepreneurial environment, lawmakers will be better equipped to encourage entrepreneurship with the most successful policies.

Following is a great presentation by Kauffman Sketchbook. It will get you thinking!

Obama Wins, Technology Wins!

Obama government is playing a major role accelerating tech entrepreneurship. Below is a summary of what was done earlier.

Promoting high-growth entrepreneurship

Unlocking capital: This spring President Obama signed the Jumpstart Our Business Startups (JOBS) Act (, a bipartisan bill that allows startups to raise capital from investors more efficiently, among other initiatives, by allowing small-dollar crowdfunding investments (, expanding mini-public offerings, and creating an “IPO on-ramp” consistent with investor protections. This is on top of an Administration commitment of $2 billion to match private investment in high-growth companies over the next five years through vehicles such as Impact Investment Funds ( and Early Stage Innovation Funds ( The Small Business Investment Company program just had a record year in 2011 of helping over 1,000 businesses get $2.6 billion in capital.

Nurturing entrepreneurial talent:  President Obama has taken executive action to make it much easier for graduates to manage student loan debt ( and pursue an entrepreneurial path ( The Administration has launched new mentorship and training opportunities for thousands of entrepreneurs starting new high-growth companies—including military veterans (, undergraduate engineers (, and clean energy entrepreneurs ( and students ( — and is engaged in sustained efforts to attract and retain immigrant entrepreneurs who create jobs here in the US (

Speeding up “lab to market” research:  The President has directed all federal research agencies to help accelerate innovation ( by speeding up grants to startups. The National Science Foundation launched an Innovation Corps ( to get teams of scientists out of the lab and starting new companies.  Over twenty federal agencies have cooperated to fund regional entrepreneurial ecosystems (, and are dramatically streamlining patent licenses for entrepreneurs in clean energy (…) and biotech (

Liberating data to fuel innovation:  The Administration has launched a series of Open Data Initiatives—in health (, public safety (, education (, and energy ( —to stimulate entrepreneurial innovation using newly unleashed data from government and other sources. As a model, decades ago, the National Oceanic and Atmospheric Administration ( began making weather data available for free electronic download by anyone. Entrepreneurs utilized these data ( to create weather newscasts, websites, mobile applications, insurance, and much more. Today, entrepreneurs are using freely available government data and building apps and services that help Americans in an expanding number of ways – e.g., apps and services that help people find the right health care provider for their family, identify the college that provides the best value for their money, save money on electricity bills through smarter shopping (, keep their families safe by knowing which products have been recalled, and much, much more.

The Startup America Partnership:  In response to the President’s call to action to support American entrepreneurs, the nonprofit Startup America Partnership ( has mobilized well over $1 billion in private-sector commitments to help support startups and has launched entrepreneur-led coalitions in Startup Regions ( across the country.

Helping accelerate technology breakthroughs

Biotechnology:  The National Institutes of Health (NIH) has launched a new National Center for Advancing Translational Sciences (NCATS) ( to speed up the development of new diagnostics, treatments, and cures by building new bridges between the lab and clinic.

Nanotechnology:  The National Nanotechnology Initiative (NNI) ( is investing in areas such as nano-electronics, to foster a revolution in computing comparable to the transition from the vacuum tube to the transistor.

Advanced manufacturing:  President Obama launched the Advanced Manufacturing Partnership (AMP) (, a national effort that brings together industry, universities, and the federal government to invest in the emerging technologies that create high-quality manufacturing jobs and enhance our global competitiveness (read the AMP Steering Committee report: As a first step in building a National Network for Manufacturing Innovation (, the Administration is funding a pilot institute for additive manufacturing (3-D printing) ( The President has also launched a National Robotics Initiative ( and a Materials Genome Initiative ( to help accelerate manufacturing innovation.

Space exploration: Guided by the President’s National Space Policy (, NASA, the Department of Defense, and other agencies are advancing U.S. capabilities and expanding American industry’s role in developing next-generation applications—including the historic docking of the SpaceX Dragon spacecraft ( with the International Space Station.

Health care technology: Building on the Recovery Act ( and the Affordable Care Act (, the Administration is continuously engaged in major efforts to promote health information technology adoption, reform payment incentives to reward value instead of volume, and liberate health information for the benefit of patients while protecting privacy.

Educational technologies:  To advance technologies that will transform teaching and learning, the President launched the Digital Promise partnership ( and championed a new Advanced Research Projects Agency for Education (ARPA-ED) (

Clean energy: The Administration is working to accelerate game-changing energy breakthroughs by funding the Advanced Research Projects Agency – Energy (ARPA-E) ( and Energy Innovation Hubs (, while pursuing 21st century grand challenges like SunShot ( (making solar energy cost-competitive with fossil fuels) and EV Everywhere ( (making electric vehicles as affordable and convenient to own and drive as today’s gasoline-powered vehicles).

Investing in “building blocks” of innovation

Research and development: The market innovations that drive economic progress so often depend on breakthroughs in fundamental science. President Obama has implemented the largest increase in federally funded research and development (R&D) in history (, and is making continuous investments to fuel “Big Data” ( research and double funding for key basic research agencies.

Education:  The President has led the charge to provide every K-12 student in America with a world-class education, including the historic Race to the Top ( investments to drive comprehensive reform at the state and district levels.  The Investing in Innovation (I3) fund ( supports school districts and nonprofit partners to develop, validate, and implement innovative evidence-based practices that accelerate student learning and achievement.  And the President has doubled down on education in science, technology, engineering, and mathematics (STEM) by launching a STEM Master Teacher Corps ( along with public/private investments to scale up high-quality STEM programs (, prepare 100,000 STEM teachers over the next decade (, and graduate 10,000 more engineers every year (

Internet:  The President signed legislation to invest $7 billion in broadband infrastructure, computers, and training ( for consumers and businesses nationwide, and has moved to dramatically expand high-speed wireless service for consumers and first responders through both direct executive action ( and legislation ( Through the US Ignite partnership (, the Administration has also laid the groundwork for next-generation ultra-fast broadband networks.  And during the national debate over the Stop Online Piracy Act (SOPA) and related legislation, the Administration made clear that the important task of protecting intellectual property online must not threaten an open and innovative internet (

Smart grid:  To build a 21st century electric system, the President led the charge to make over $4.5 billion in smart grid ( investments for electricity delivery and energy reliability modernization, along with new smart grid initiatives to empower consumers (, improve the reliability of the electric grid, and spur innovation.

Patent system:  President Obama signed the bipartisan America Invents Act ( after nearly a decade of efforts to reform the nation’s outdated patent laws. The new law is helping entrepreneurs and inventors avoid costly delays and unnecessary litigation so they can focus instead on innovation and growth.

Again, this list is not comprehensive—for more details, check out the White House Startup America Initiative ( and the President’s Strategy for American Innovation ( And I have barely touched on all the ways that President Obama has fostered massive innovation withingovernment, from unprecedented use of prizes and challenges ( to the new Presidential Innovation Fellows program ( that pairs top innovators from outside and inside government to implement cutting-edge solutions for the American people.

Mark Suster And This Week in VC Are Back!

I was searching for Eric Ries videos on youtube and accidently(Isn’t accidently a word?) landed on his video with Mark Suster on This Week in Venture Capital a few days back. I was thinking to myself, ‘Wait a mint.. What the heck happened to This Week in VC??’ I thinking about dropping an email to This Week in Crew to get an answer. There comes and email from TWiST and it said ‘This Week in Startups – Mark Suster GRP Partners.’ I was thinking to myself, ‘great! I can find out what the guy has been up to..’

Mark Suster has been very inspirational to me in many ways. I used to quote him, send his posts to my co-workers and fellow entrepreneurs I come across. I don’t even remember how many times I went through his post ‘Intros!’ I always loved the authenticity he brings on to the table. You can really get to know the both sides of the table well enough to make very analytical decisions.

You can follow Mark on Twitter and watch the whole episode below. Mark will be back on This Week In VC again from August 2nd week on-wards!

If You Want to go for the Big Bet and Change the World, Quit Whining!

Well, startups are different! They are not the same enterprise you’ve worked for or you’ve seen. You don’t work a 9 to 5, you don’t have paid vacations, you don’t do just one thing, hell, it is not a white collar job to begin with! Don’t work at a startup if you don’t want to change the world.

I have come across people who’ve talked a lot about this great idea that is going to move the human species forward or that great product that is going to create a dent in the universe (Sometimes I have even hired the ones that I thought might be a great fit too), but there’s only a handful of people who are really willing to go through what it takes to make things really happen. An average person can only take so much of pain; they just give up! Sometimes it’s better to just give up than whining about things day in day out. Some people forget to realize themselves are the real issue to begin with. The nature of a startup is that, if one process fails or lacks in performance, it effects to everyone else.

Take Action!
Only a very few people ever live to become the successful story they dream about. Some people watch a lot of Steve Jobs videos, Pirates of Silicon Valley and try to remember each and every line. That does not make you a success story. Take action! Don’t sleep 8 hours a day and try to be that success story. It just does not work with startups. Jack Dorsey still puts 16 hours a day among Twitter and Square. Take immediate action for whatever the  issues that comes across while being really analytic about the choices.

Build the Team
Don’t whine with The Team you are trying build. That is a real no no. You have to keep them mentally healthy. You can’t go back to ground zero and take the team down with you. If you don’t have any b**** to stand up for what you believe in, leave!

Quit Playing the Blame Game
A successful business is all about taking well informed, logical decisions. Change what does not work, quit repeating the same blame game over and over. Nobody gets it right the first time, you are not born with knowing how to do everything right. What matters is how fast, how often you change the things that don’t work right. Micro manage every issue and make logical decisions. If you’ve only had a few years in the startup game, there’s a lot more to go. What you did for the past few years is not what you are going to be doing the next few years. It’s a learning curve every step of the way until you create the first successful company.

Lose Everyone Who Drags You Back!
You just can’t afford to have people slowing you down. It is  game, you don’t win if you don’t play right, faster than others. If you have people who whine every time, cut them lose. It is a lot of bad energy to spend time on.

Entrepreneurship is a career. It’s a scientific management (The Lean Startup is my bible of product development). You do need time to recharge yourself. I never ask my team to work on weekends unless it’s critical issue, but the issue is when some don’t put in enough hours during the weekdays. If you are a key player in a startup, going for the big bet, you are automatically entitled to do whatever it takes to deliver results. If you think it is too hard for you and you like the rice picker job, go get one. Don’t expect the big bet, if you are not ready to put in whatever it takes to deliver results.