Wednesday, December 8, 2010

Making Money on Line

As the FCL has some make believe acceptance criteria (and with countries such as Poland, Columbia, and Mexico having had access to it, these must certainly be sky high), the IMF is introducing a brand new credit facility, the Precautionary Credit Line (PCL), which will be geared for members with "sound policies [which just happen to need an unlimited source of rescue funding]  who nevertheless may not meet the FCL’s high qualification requirements." In other words everyone. In yet other words, the IMF as of today, has a limitless facility to bail out anyone in the world, without a maximum bound in how much is lendable. One wonders who would be stupid enough to take advantage of the gullibility of IMF's biggest backers (the US), to borrow an infinite amount of money for any reason whatsoever... And just what all this means for the imminent explosion of the amount of money in circulation...Not to mention the brand new Ben Bernanke smokescreen of having a new justification to print a few trillion dollars when Europe unexpectedly collapses yet again.

In discussing the imminent need for its expanded "Crisis Prevention Toolkit" which also comes with 50cc's of adrenaline, ativan, a crash cart, and a defibrillator, Dominique Strauss-Khan (and that's Missus to you Bob Pisani), the corpulent bureaucrat said: “These decisions expand and reinforce the IMF’s crisis-prevention toolkit and mark an important step in our ongoing work with our membership to strengthen the global financial safety net. The enhanced Flexible Credit Line and new Precautionary Credit Line will enable the Fund to help its members protect themselves against excessive market volatility,” said IMF Managing Director Dominique Strauss-Kahn. What DSK did not mention is that it is precisely the mechanisms used by the Central Banking Cartel to rise the markets ever higher in light of increasingly deteriorating fundamentals, that are precisely what makes the markets excessively volatile, primary culprit of course being HFT, which is nothing but a government endorsed positive feedback loop.

Too bad the threat of the FCL did nothing to protect against market volatility. Which is why it is now time to put in action.

 



In a lengthy interview with The Daily Beast this week, Wagner said she didn't want to "cast aspersions" on Steele's chairmanship, but still managed to make subtle and not-so-subtle digs at his bumpy tenure.


"There needs to be accountability," she said. "The chairman needs to be full-time," she added, noting the needs for "checks and balances and controls." Beyond that, what the RNC needs, is "strong management and leadership from the very top."


From the beginning, Steele has been a public-relations headache for the Republican Party, picking a fight with Rush Limbaugh, offering "slum love" to Louisiana Gov. Bobby Jindal and describing civil unions as "crazy"—all in the first 30 days after taking office.


But whereas Steele is the "off-the-hook" kind guy, who said he wanted to polish the GOP's image with everyone "including one-armed midgets," Wagner is less showy—even her most high-level official appointment spoke restraint. (She served for three-and-a-half years as ambassador to Luxemborg, appointed by George W. Bush.)


As chairwoman of the Missouri Republican Party, she is credited with turning the state legislature from blue to red, winning statewide races and crucial votes to George W. Bush in 2000 and 2004. Coming off those victories, she became the RNC co-chairwoman before Bush appointed her to the Luxembourg diplomatic post. Coming back, though, she worried that "perhaps socialism had followed me across the pond," she said, and so she decided that she "needed to reengage," successfully chairing Roy Blunt's Senate campaign.





Ann Wagner of the Republican National Committee pumps up the crowd on day one of the Republican National Convention in New York on Aug. 30, 2004. (Photo: Bill Greenblatt, UPI / Newscom)


The night before Wagner announced her desire to run for the chairmanship, she called Steele, someone she described as "a friend," telling him her intentions. The conversation was "cordial," she said, adding that she intends to focus on bringing back GOP donors who left the fold during the last cycle.


“With independent expenditures, there’s no coordination so you don’t know if the organization or the group will be there for you.” With outside groups, “you are flying blind a little bit.”


"It's not just restoring a certain level of credibility in being good stewards of our donors' investments," she said, "but frankly just going out and making the ask."


In many ways, Steele's biggest problems have been related to money. There was, of course, notoriously, the almost $2,000 that RNC staffers blew at a "bondage-themed nightclub featuring topless women dancers imitating lesbian sex." (The RNC denied that Steele himself visited the Hollywood club.) More seriously, Democrats have been more effective in raising money, and last month, former RNC political director Gentry Collins wrote a scathing letter, saying Steele had maxed out on the $15 million credit line approved by the committe. And some have criticized Steele for being upstaged financially by GOP operatives such as Karl Rove, who pulled in  much-needed cash for the Republican Party during last month's midterm elections. (An RNC spokesperson declined an interview with Steele.)


Wagner, for her part, clearly doesn't want to be beholden to Rove.


"The key is to make sure that, in a presidential year, we are not so dependent upon so many outside groups to assist in this," she said. "With independent expenditures, there's no coordination so you don't know if the organization or the group will be there for you." She added, with outside groups, "you are flying blind a little bit."









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autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


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autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


bench craft company scam

autosport.com - F1 <b>News</b>: Lotus unveils F1 plans with Renault

Group Lotus has ramped up its involvement in Formula 1 by becoming title sponsor and a major shareholder in the rebranded Lotus Renault GP Team.

The arrest of Julian Assange: as it happened | <b>News</b> | guardian.co.uk

Follow the latest reaction and fallout as the WikiLeaks founder Julian Assange is denied bail, and the latest leaked cables reveal US plans to defend Poland and Baltic states against Russia.

Shep Smith: Based On Today&#39;s Fox <b>News</b> Guests Obama May Not Get The <b>...</b>

Based on today's Fox News lineup Shep Smith is concerned Obama won't get the compromise his is expecting following this week's tax deal. From Shep: One of the things the President emphasized yesterday is, we've compromised here and now ...


Tuesday, December 7, 2010

Making Money Internet


What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.






You may remember Christiaan Van Vuuren, aka The Fully Sick Rapper, for his rap videos posted from a hospital quarantine room. Well, now he's out of the hospital and on to bigger things ... like performing the world's longest rap. Fully Sick Rapper was recruited by an Australian energy drink called Mother (toughest energy drink name ever!) to rap for 9 hours and 20 minutes, setting a new world record for rhyming.



Fortunately, the whole unbearable experience doesn't seem to be online. Fully Sick Rapper is good, but nobody's good for 9 hours. You can see in the various highlight videos that spending more than a standard workday spitting rhymes on camera took its toll on him. He changes costume several times, and even rolls himself up in a rug, all while continuing to rap.



As for the sponsorship, FSR did what any good rapper does: he used his own sellout as material for his raps, making fun of the product in the process. Hey, a rapper has to eat! And pay his medical bills, of coure. See, Fully Sick Rapper isn't fully well yet. He's still taking medicine for the tuberculosis that had him under quarantine for 6 months. I hope he uses the Mother money to get well soon, or at least build a Scrooge McDuck-style money bin.













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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

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Small Business <b>News</b>: The Small Business Samba

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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.






You may remember Christiaan Van Vuuren, aka The Fully Sick Rapper, for his rap videos posted from a hospital quarantine room. Well, now he's out of the hospital and on to bigger things ... like performing the world's longest rap. Fully Sick Rapper was recruited by an Australian energy drink called Mother (toughest energy drink name ever!) to rap for 9 hours and 20 minutes, setting a new world record for rhyming.



Fortunately, the whole unbearable experience doesn't seem to be online. Fully Sick Rapper is good, but nobody's good for 9 hours. You can see in the various highlight videos that spending more than a standard workday spitting rhymes on camera took its toll on him. He changes costume several times, and even rolls himself up in a rug, all while continuing to rap.



As for the sponsorship, FSR did what any good rapper does: he used his own sellout as material for his raps, making fun of the product in the process. Hey, a rapper has to eat! And pay his medical bills, of coure. See, Fully Sick Rapper isn't fully well yet. He's still taking medicine for the tuberculosis that had him under quarantine for 6 months. I hope he uses the Mother money to get well soon, or at least build a Scrooge McDuck-style money bin.













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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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What drives an entrepreneur to start a business?  Is it solely about money?  Or is there something more?  I argue that often it is the  same creative drive that compels an artist to paint, a musician to compose, or a sculptor to look at a piece of rough marble and see an angel inside.  And those who understand the mind of the small business owner know why the proposed tax increase in 2011 will do more harm than good to the very people this economy needs most to create jobs.



On FBN’s Bulls & Bears recently Democratic strategist Jehmu Greene, the token liberal steak tossed into the wolf den of laissez faire commentators, uttered words to the effect that if we allow the Bush tax cuts to remain, the “rich” (I guess that’s me?) will not put the money into the economy but rather just squirrel it away “in their banks…It would not go into job creation or creating capital for small business.”


My first thought  was: “In my bank? Really?  How many businesses have you owned?” (To be fair she did co-found some internet venture called Urban Hang Suite which shuttered in 2003).  But then I reminded myself that, like Ms. Greene herself who has been in non-profit and/or government almost her entire career,  very few people in the  Obama administration, from the president on down, have ever started a business.  Thus they cannot understand what drives entrepreneurs to succeed.  They think it is just about take-home pay.


It’s said that small business owners work eighteen hour days for ourselves so we don’t have to work eight hours a day for someone else.  And often our income on a dollar/hour basis is less than the established firms we may have left to go on our own. Certainly this is generally true for those few scary years at the beginning when a myriad of mistakes are made and unanticipated events occur that prompt the principals to pay ourselves only after all other obligations have been met   So why do it?  Why take such risk?



First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier.  This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s.  Do not underestimate the fact that more than just money drives us to take such enormous personal risk.


Secondly, there is of course  that brass ring of selling the firm and walking away with a nice pay-out in hand.  Still, I know of very few successful entrepreneurs who upon a sale leave the world of business.  Rather they look for new ventures.  New challenges.  New job creating entities. Name an artist satisfied at just one piece.


Now, our company’s value is enhanced by increased business.  We have to grow in order to build our firm into a salable entity. And that usually means a larger workforce to generate more revenues.  It’s no coincidence that the targeted 2% of Americans making north of $250k create 28% of the nation’s new jobs.   The reason letting the tax breaks expire is an impediment to that growth is that many small business owners have their business and personal income intertwined. And as such a 5% tax on their personal income is a de facto 5% surcharge on their business.  For someone making $1mm a year, that is a $50k  hit to their business…two entry level employees.  In the end, we are employers, not charity wards.  We take the risks, it is our capital—and homes—at stake and so we will look to other ways to cut before reducing our own deserved compensation.  So in order to make up the shortfall and keep an owner level with 2010 all else being equal, these two employees may get let go.  Certainly an owner will put off hiring until he/she knows if they can afford new hands or not.  The new mantra for small business is “don’t hire one until you need two.”  Not the best recipe for getting the job creators excited about growing the payroll is it?


Before sitting down to write this I looked over my small company’s five-year projections.  Always we try to gage our fixed costs.  When we have some certainty on costs we can plan around them and ‘stress test’ to see how we survive in given revenue scenarios and prepare measures today in anticipation of any issues down the road.  Then we can better tell, for example, how much interest we can afford each month on a loan (assuming we can get one) to bring in more capital and expand the firm—and hire people we need to get us to the next level and that much closer to that holy grail of being bought out while satisfying our desire to build something special along the way.  But right now there is a big blank “N/A” on the spreadheet cells labeled “Federal Income Tax.”  Until I know what to plug in there, it will be hard to move forward.






You may remember Christiaan Van Vuuren, aka The Fully Sick Rapper, for his rap videos posted from a hospital quarantine room. Well, now he's out of the hospital and on to bigger things ... like performing the world's longest rap. Fully Sick Rapper was recruited by an Australian energy drink called Mother (toughest energy drink name ever!) to rap for 9 hours and 20 minutes, setting a new world record for rhyming.



Fortunately, the whole unbearable experience doesn't seem to be online. Fully Sick Rapper is good, but nobody's good for 9 hours. You can see in the various highlight videos that spending more than a standard workday spitting rhymes on camera took its toll on him. He changes costume several times, and even rolls himself up in a rug, all while continuing to rap.



As for the sponsorship, FSR did what any good rapper does: he used his own sellout as material for his raps, making fun of the product in the process. Hey, a rapper has to eat! And pay his medical bills, of coure. See, Fully Sick Rapper isn't fully well yet. He's still taking medicine for the tuberculosis that had him under quarantine for 6 months. I hope he uses the Mother money to get well soon, or at least build a Scrooge McDuck-style money bin.













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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...

Adobe releases Lightroom 3.3, ACR 6.3 &amp; Lens Profile Downloader <b>...</b>

Adobe releases Lightroom 3.3, ACR 6.3 & Lens Profile Downloader: Adobe has released Photoshop Lightroom 3.3, Camera Raw 6.3 and DNG Converter 6.3. These are final versions of updates that were originally posted as 'release candidates' ...

Small Business <b>News</b>: The Small Business Samba

From the slow dance Republicans and Democrats have been doing in Washington the last few weeks over tax cuts and jobless benefit extensions approved earlier.



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Monday, December 6, 2010

Wotlk Making Money


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Desayuno Lujiazui: <b> Noticias </ b> &amp; puntos de vista sobre las existencias de China (06 de diciembre <b> ...</ b> Inversores y comerciantes en el principal distrito financiero de China se trata de lo siguiente antes de el inicio de hoy el comercio: Con las expectativas sobre la inflación y la política monetaria cada vez más claro, los inversores están tomando las señales desde el extranjero ...

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Esta semana en la tarjeta de crédito <b> Noticias </ b> - MoneyBuilder - sentido de lo que <b> Siempre ...</ b> por LowCards.com más de ocho millones de personas abandonan. Utilice la tarjeta de crédito Más de ocho millones de consumidores dejaron de usar las tarjetas de crédito durante el año pasado, según un nuevo estudio realizado por TransUnion El uso de propósito general ....


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...


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Lujiazui Breakfast: <b>News</b> &amp; Views About China Stocks (Dec. 6 <b>...</b>

Investors and traders in China's main financial district are talking about the following before the start of trade today: With expectations about inflation and monetary policy becoming clearer, investors are taking cues from overseas ...

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

This Week in Credit Card <b>News</b> - MoneyBuilder - making sense of <b>...</b>

Provided by LowCards.com More Than Eight Million People Drop Out of Credit Card Use More than eight million consumers stopped using credit cards over the past year, according to a new study by TransUnion. The use of general purpose ...



















Wednesday, December 1, 2010

Making Money Guide


Social products are an interesting bird. For even the most experienced product designer, social products prove an elusive lover. While there are many obvious truths in social products, there are also alot of ways to design them poorly. Especially when you are deep in the moment making pixel-level decisions trying to remember what’s important, things may not be so clear.


The only magic I’ve found in designing compelling social products that have the best shot at breaking through the noise and capturing people’s time and money is in being extremely clear on how your social product meets a few key design principles.


1. Design your product to matter in a world of infinite supply. In 2010, people are inundated with an overwhelming number of people, applications, requests, alerts, relationships, and demands on their time. You love your product. The benefits of it are totally obvious to you. However, if you and every member of your team can’t crisply articulate what emotional benefit someone will get from spending 15 minutes on your social product that they can’t get on Facebook, LinkedIN, or Twitter, you’ve got work to do.


This isn’t touchy feely stuff. Neither I nor the prospective people who may use your social product care about your features, your game mechanics, or how amazing your application will be when there are millions of people on it. I’m selfish with my time and you’ve got seconds to hook me in with something new. And I’m not alone.


To successfully use the fleeting moments you have, you need to orchestrate everything under your control to work together seamlessly under a single brand with a single reason for existence. Make it emotional. If your team can’t tie back every decision they are making to the emotion you want people to feel when they are using your social product, then your reason for existence isn’t strong enough to serve its role, which is to guide your team and the product decisions you are making.


2. Be the best in the world at one thing. To put an even finer point on the focus required of any social upstart, you need to be best in the world at one thing. For Lululemon, they’ve built a $450 million annual revenue business by focusing on the black yoga pant. For Twitter, it’s the 140 character message. For Facebook, it is connecting you to the people you already know. Everything these companies do ties back to a specific thing they are going to be best in the world at doing.


It’s not always obvious upfront what should be your best in the world focus and enshrining the wrong thing can be a problem. However, it is much worse to build a social product without guiding principles. When you are focused on the one thing your social product is going to do better than everyone else, all you need to launch is your one thing and no more.


Ask yourself and every member of your team what you are best in the world at every week. Even better, define it, agree on it, print it out, blow it up, and put it on the wall. This should be the filter by which everyone is making product decisions.


3. Seek out uniqueness. Today’s social platforms and applications are fantastic at meeting people’s need to belong. But equally important – especially in a world of infinite supply – is what makes us feel different and special. People want scarcity. People want exclusivity. This doesn’t mean your social product should be limited to a niche. Frontierville was built for mass appeal – so that I could play with ALL of my friends – but it still finds ways to bring uniqueness into its social experience via neighbors, customization of your plot, and collections.


When people talk about exclusivity and scarcity these days, discussions of game mechanics are never far behind. I love game mechanics as much as the next person. However, if you are implementing game mechanics in the exact same way as everyone else, you’ve got a problem. It goes back to the issue of infinite supply. If there is an infinite supply of points, badges, and levels because they exist on every single social product out there, the minute you use them without being thoughtful, you are losing your shot at exclusivity and scarcity. A better approach is to figure out what makes people feel unique and special on your service independent of any specific game tactic. Then, selectively cherry pick the features that reinforce your emotional reason for existence for people. For uniqueness to work, you have to lead, not follow.


4. Focus on your most important interaction until you have it right. Once you have the critical features defined, there is typically one interaction that is clearly the most important to get right. It’s the interaction that if you get right means someone comes back and, if you don’t get it right, you can’t realize your full potential. Take this interaction and be maniacal about it. For Twitter, this is the Twitter stream. For Polyvore, this is the set page. For Facebook, this is the news feed. For YouTube, it’s the video page. For Dailybooth, it’s the live feed page. It’s the interaction where your magic happens, so give it the care and feeding needed to make it a star.


5. Choose your words carefully. The earlier you are as a social product, the more your word choice should be different and distinct from everything else out there. Early on is the time to have something important and different to say. In fact, all the great brands of the past 30 years have started out appealing to the passionate and rebellious first. Virgin? Sex, drugs, and rock and roll. Apple? The 1984 commercial. Nike? The subculture of intense runners sporting moustaches. Facebook? A few still remember the original Scarface logo.


There are things to copy from other services and there are things to make uniquely your own in social products. Layouts? Do your best but pay attention to what is already working. Colors? Hard to be original here, but blue is pretty played out. Icons? A toss up. Terminology? Own it. Your word choice is the primary place for you to have a point-of-view and present not only what you want your brand to emotionally mean to the people using it but the kinds of relationships you want people to have as a result of using your social product.


6. Create a party, not a museum. Great social products are clean, simple, and fast. The successful ones have little design flare, so that the people, photos, videos, text, and comments are front and center. The more design you add from colors to treatments, non-web-fonts, and graphics, the less your social application will feel like a party and the more it will feel like a museum. Or a magazine. Neither are a great goal. You want your social product to feel like it is a living and breathing party, not expensive furniture you’re not supposed to sit on.


7. Develop relationships, not features. Today, we have multiple personalities and different types of relationships with people in the real and virtual worlds. If you are going to design a new social product, it’s not enough to just offer a feature, like photos, videos, or events. You need to look at how the relationships on your social product will be important and different from the relationships you and others have already on Facebook, LinkedIN, and Twitter.


Most people will say that Facebook Connect handle the whole “people” thing for any new social product. I would argue that Facebook Connect is a start but if you can’t quickly show someone a new relationship dynamic or similar people in your social product in a way that is unique to your application, the value of people interacting in your new product will accrue back to Facebook and not you.


For example, I’ve found that on most new social applications I join I have the same 10 Facebook friends – typically my most prolific friends on Facebook already – on this new service too. In most cases, because these new social applications are just an extension of the things I’m already following them do on Facebook, such as sharing photos, events, lists, and videos, I don’t have a reason to come back to this new application a second time.


For a new social product, you need to think about how your social product expands, deepens, and changes the relationships people have today online and in the real world. This isn’t easy to achieve. The best example of a social product doing this well is Quora. Originally seeded with Facebook’s social graph, it has quickly differentiated itself by showing you people you may care about because of their thoughtful commentary, experience, and expertise displayed on topics that are important to you.


It takes alot for people to care about new people in the context of a new social product. Spending your time and energy on what constitutes similarity or what new relationships you want people to have as a result of your application is time worth spent.


As I think about what’s going to be created, discovered, invented, and re-imagined with social software in the next six months let alone the next five years, I can’t help but be excited. These principles shine a light on the first few feet in front of us, but, with every new social product success there will be new ones. As Alan Kay timelessly put it, “the best way to predict the future is to invent it.” I, for one, can’t wait to see what’s next.


Gina Bianchini is the founder of Ning, the leading online platform for the world’s organizers, activists and influencers to create their own social experiences with over 80 million unique users each month.


Thanks to the success of projects like Diaspora, Designing Obama and The Glif, more and more creatives are looking toward Kickstarter as a way to fund their projects.

The site makes it possible for individuals or groups to fund an album, finance a documentary film or publish a quarterly magazine by soliciting backers online. The brilliance of Kickstarter is in its all-or-nothing approach. This creates a huge incentive for project creators to really put a lot of thought into their project and to offer appropriate rewards for pledges.

We wanted to find out why so many entrepreneurs are turning to Kickstarter to fund their projects. Kickstarter projects come in all sizes and we spoke with three project creators about the how’s and why’s of crowdfunding.

The Still Funding

Christopher Salmon fell in love with Neil Gaiman’s short story, The Price. As a filmmaker, Salmon immediately saw the potential of bringing the story to life, using computer animation. He contacted Gaiman — and thanks to an incredibly detailed animatic — received permission to create the film. Gaiman even agreed to provide the voice narration for the project.

Things were starting to come together, until Salmon ran into a familiar problem for indie filmmakers: Money.

Getting funding for a short film — even for something like The Price that has a built-in fan base — isn’t easy. For Salmon, it was important to not only find a way to raise money, but to do so in a way that would let him retain control of his project. That’s when he turned to Kickstarter.

Salmon decided to use the service to raise the $150,000 he needs to turn his animatic into a full-fledged 3D animated short. As of publishing, the filmmaker is less than 32 hours away from his deadline and he needs roughly $20,000 to meet his goal.

When we spoke to Salmon last week and asked him about the project, he told us that it was the all-or-nothing approach of Kickstarter that really interested him. Ambition and belief in the story is what led Salmon to create the intricate animatic that won over Gaiman; that same ambition is what led him to trust that he will reach his goal.

Salmon spoke to us about the overwhelming feedback he has received from supporters. Interestingly, the film has generated a lot of support and interest from the overreaching film community since the funding push kicked off at the beginning of the month. Pledges have come from all parts of the world and that support — and trust — will guide him into making an even better film, according to Salmon. “I want to make it as good as it can be to show my thanks,” Salmon said.

The plan is for the film to hit the festival circuit as soon as it is complete.

Pledges of $25 or more will receive a digital download of the finished film. Those who choose to donate $50 or more will get a special edition DVD that includes an exclusive interview with Neil Gaiman. Additional pledge levels include other incentives like posters, a class='blippr-nobr'>Bluclass="blippr-nobr">Blu-ray edition and signed copies of the film.

The Just Funded

Tom Durham is another filmmaker who saw Kickstarter as a way to fund his project. Less than two weeks ago, Durham successfully reached the funding goal for his project, 95ers: ECHOES. Durham’s goal was to raise $12,000; he ended up raising just more than $17,000 for his project.

Kickstarter turned out to be a crucial part of making 95ers: ECHOES a reality. An ultra-indie sci-fi film about an FBI agent with the power to rewind time, Durham describes the project as “The Time Machine meets X-Files meets Heroes meets… A Christmas Carol.”

Durham has literally put his life into the film. The project has taken more than four years — though the idea goes back more than a decade — and most of the funding came from mortgaging his house. He does not recommend that approach.

After almost reaching the finish line, Durham hit a wall. Completely out of money, he was faced with having to wait another year to save up the funds to finish the project properly. Fortunately, a relative told Durham about Kickstarter and he decided to give it a shot.

Durham tells us, “Kickstarter understands the artist and understands today’s patron, and connects them.” After the initial round of backers trickled to a stop, the 95ers was featured on the Kickstarter home page. At this point, the project really started to take off. “Something about our own story, and something about the movie’s story, was connecting with people,” says Durham.

With his funding goal complete, the next step is to finish the film. The plan is to have it completed by the end of January so that it can go off to festivals and then TV and DVD. Durham hopes to have the film on SyFy in 2011.

Incidentally, this is only the first of five planned 95ers films. We imagine that Durham will skip the mortgage next time and go straight to Kickstarter.

The Big Success Story

About a week and a half ago, we covered a Kickstarter project called the TikTok+LunaTik. TikTok and LunaTik are high quality kits for turning the iPad nano into a multitouch wrist watch. When we first wrote about the project, it had raised nearly $200,000 — far more than its initial funding goal of $15,000.

Since then, the project has gone on to raise more than $450,000, making it the most successful project in Kickstarter’s history. Oh, and there are still more than two weeks to go before the project ends.

For Scott Wilson, the founder of MINIMAL, the Chicago-based design studio where TikTok and LunaTik were engineered, the success has been pretty overwhelming.

Wilson came into Kickstarter with more experience under his belt than the average project creator: his past client list includes a stint at Nike and he has an extensive client list.

So why choose Kickstarter? Well, as we mentioned in our earlier piece, Kickstarter is one of the more pure ways that an entrepreneur can fund his or her idea. Wilson didn’t want to deal with VCs. He didn’t want to compromise his design. He wanted to make his project on his own terms. That echoes what Salmon told us about his project.

Scott Thomas, who used Kickstarter to fund the Designing Obama book last year, is a friend of Wilson’s and encouraged him to give the service a shot. The results, needless to say, have been pretty spectacular.

It wasn’t until about 6:00 p.m. on the first day that the project started to gain attention. After seeing little activity for most of the day, Wilson was shocked to look at his phone and see the funding notices fly in. When we spoke to Wilson last week, the project had just crossed the $300,000 mark.

Aside from the ability to control his own project, Wilson acknowledges that the potential publicity was also an attractive element. Wilson believes that the story behind the project could be as compelling as the product itself.

At this point, Wilson’s priority is to just make sure he can get his kits manufactured. Within the first week, he already contacted his manufacturer and doubled-down on his tooling so that the process can get started as soon as possible. Kickstarter backers will be the first priority — with orders for retailers and others coming after those are fulfilled.

Wilson, like other Kickstarter project creators, updates the project on a regular basis. He has been using his project’s exposure level to help educate other would-be creators and to even promote some other Kickstarter projects. In the waning hours of the funding push for The Price, profiled above, Wilson sent out a plea via Kickstarter’s messaging system to those who back or watch TikTok+LunaTik and recommended that they also pledge to Salmon’s project.

The Future of Funding

Kickstarter is impressive because it can work on multiple scales. From smaller projects like 95ers: ECHOES to mid-sized projects like The Price to half-million-dollar juggernauts like TikTok+LunaTik, the model for creator-centric funding has tons of potential.

Of course, not every idea will meet its funding goals. As with anything else, luck — as well as effort and overall idea quality — will ultimately play a part in what makes it big and what doesn’t. Still, we think Kickstarter represents a new era for funding.

What do you think of Kickstarter? Would you consider using it or a similar service to fund your next endeavor? Let us know!

More Social Media Resources from Mashable:

- 10 Unique iPhone Photography Accessories/> - How Social Media Is Changing the Way Movies are Promoted/> - 4 Social Web Apps for Making and Sharing Your Travel Plans/> - HOW TO: Use Social Media to Enhance Your Event

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