David Ulevitch's Comments

Permanent Record : How Do You Solve a Problem Like Patzer?

Mon, 1 Mar 2010 04:06:00 +0000

"If we are doing things right and our company founders are successful, then over the long run we should be successful. If we get to the point where our founders are successful but we can't be, we should be rethinking our business." That's all that needs to be said. The TC piece was a joke.

Feld Thoughts : Annual Escalating Patent Fee Proposal

Tue, 23 Feb 2010 18:36:42 +0000

Thanks for the clarifications, with the added context your comments make a lot of sense and are certainly things that need to be considered.

Feld Thoughts : Annual Escalating Patent Fee Proposal

Tue, 23 Feb 2010 06:22:04 +0000

Perhaps you've never filed a patent... 1) The current fee is far less than that, and doesn't get more expensive over time. 2) The times suggested are from the grant date, not the application date, as are all patent grants. 3) They already do this, overwhelming the patent office. The problem is the patents are then granted. This sliding scale makes that model untenable. 4) I don't see what this has to do with it. Like I said, I don't think you've ever filed a patent. You should, it's fun. Costs about 10-15K per patent from any competent counsel.

Feld Thoughts : Annual Escalating Patent Fee Proposal

Mon, 22 Feb 2010 20:06:18 +0000

We are not a "first to invent" system -- first to file is what matters for patents, being first to invent only matters when it comes to invalidating. it's not like the first to invent gets to take ownership of someone else's patent, they can simply (and at great cost) work to have it invalidated.

Feld Thoughts : The Founders Visa Movement

Thu, 10 Sep 2009 19:34:19 +0000

I don't think you need a VC panel, just a VC / Angel sponsor. NVCA can take care of accreditation.

Feld Thoughts : The Founders Visa Movement

Thu, 10 Sep 2009 19:33:33 +0000

If someone has $250,000 to buy their way into this country, then they have money to spend living here in this country and can buy what I'm selling. Immigrants with $250K to burn are not the people that the anti-immigration-reform folks worry will take their jobs or work at a lower wage or ruin our hospitals. So moot point.

Feld Thoughts : The Challenge of The Ideal First Round Term Sheet

Wed, 26 Aug 2009 05:27:25 +0000

Lawyers are not highly incentivized to streamline their work and create standard docs for use. Not to mention that these term-sheets, while called "ideal first round term sheets" are really only ideal for naive first-time entrepreneurs. Call me bitter, but I just don't see this happening, and frankly, I don't see the value. First-round deals are already fairly straightforward when the angels haven't screwed up the cap table. And when they have, these docs won't save you.

Feld Thoughts : Three Entrepreneurial Books To Read Before You Turn 21

Fri, 21 Aug 2009 19:49:12 +0000

Proud to say I've read all three -- Zen a few times, and Atlas Shrugged a few times. To add one to the list... Once you've done the entrepreneur thing for a while and decide you want a break before jumping back in, read "Honeymoon with my brother."

Paul Kedrosky: Infectious Greed : Random Photo du Jour: Gentleman Function

Thu, 23 Jul 2009 15:30:15 +0000

It's poorly named, but it allows the driver to adjust the front-passenger seat settings (like moving it forward, back, etc.) using the controls on the driver-side door. It should have really been called the "Chauffeur Function" or something. It'd be used if you were a chauffeur and wanted to move the passenger seat way up to provide a lot of leg room for the person in the back; towncar style. I suppose you could try to be all slick and move your lady's seat backwards or forwards for comfort, but it's not that slick since she'd see the display read the super annoying "Gentleman Function" -- Or maybe it'd be a nice hint. :-)

TechDrawl : A Conversation with OpenDNS

Wed, 22 Jul 2009 13:23:24 +0000

I should speak more clearly, even when relaxing in the break room. :-) Nice interview and write-up. We enjoyed having you over.

Redeye VC : Help me rename "Lifestyle Business"

Thu, 9 Jul 2009 17:42:08 +0000

There's already a few words for this: Bootstrapped, self-funded. And there's nothing wrong with a company growing out of cash-flow. As an aside, I don't think the term "lifestyle" company is demeaning at all. If I self-funded a lifestyle company that took care of its employees and delivered great returns to the stakeholders then I'm living the American dream.

CPB | Website Information Provider : OpenDNS - Best DNS. Monstrous Community.

Wed, 29 Oct 2008 05:59:25 +0000

Nice! Thanks for the enthusiastic write-up! :-)

Feld Thoughts : iPhone and Tasks

Sun, 26 Oct 2008 18:49:15 +0000

RTM has an iPhone interface, curious if you tried it and if it wasn't cutting it compared to a native iPhone app... http://www.rememberthemilk.com/services/iphone/

Feld Thoughts : FAS 157 - Another Annoying Accounting Provision

Fri, 27 Jun 2008 11:33:16 +0000

It's policies like this that drive inaccurate and over-inflated valuations which ultimately force small growing businesses into unfortunate positions as they raise capital down the road. Ultimately it's the economy that suffers as a consequence.

Redeye VC : The Death of Stealth Mode

Tue, 24 Jun 2008 17:49:20 +0000

Odd, my brain skipped over this. "Maybe they don't mention it because they know that people can't access these documents online."

Time to go take a walk outside. :-)

Redeye VC : The Death of Stealth Mode

Tue, 24 Jun 2008 17:30:56 +0000

This sounds ridiculous. I don't see anything in the Twitter filings that names investors or amounts. Am I missing something?

Texas Startup Blog : Lifestyle Startups are Bad?

Wed, 18 Jun 2008 13:16:27 +0000

The point is that 37 Signals has taken on outside investment, and does have a fiduciary responsibility to their shareholders.

In an ironic twist, perhaps the bad advice on their blog to startup folks is in the best interest of their shareholders, by dumbing down the competition, as I mentioned in my post. :-)

Ask the VC : What's An Appropriate Equity Package For A Founding Board Member?

Sun, 15 Jun 2008 15:57:03 +0000

Indeed, the value of an active and appropriate board member does not decrease over time. The contributions of a board at your Series B, C and beyond are just as important as the contributions of your board Pre-A. Some might argue, more important as there is no shortage of people who "know the basics" when you are starting out.

Texas Startup Blog : Lifestyle Startups are Bad?

Thu, 12 Jun 2008 09:50:23 +0000

Alex... I'm not quite as Gordon Gecko-esque as my quick post might have made me out to seem. :-) I believe in doing great and important world-changing things as well. When they are a business opportunity, that's even better, but not always a requirement. Check http://david.ulevitch.com/ for some background on other things I've been involved with.

As for startups... I should have clarified. There is something to be said for what Bradley Joyce says. And of course I admire and respect that perspective. I think it's awesome for someone to strike it out on their own and be responsible for their successes or failures. That said, when talking about Internet companies and silicon valley, "startup" has a very clear meaning, especially for those who raise money (as 37 Signals did!). It typically means dominating in any number of the following goals: massive growth, massive revenue, massive industry disruption. Lifestyle companies are not a part of this "startup" ecosystem. 37 Signals is trying to shift the definition of what an Internet/technology startup is, and that seems odd considering their venture-backed endeavors. And that's what I find disingenuous and a bit confounding.

And finally, that post wasn't intended to be read so widely, but it's the Internet, so I guess I should know better. I'll endeavor to make more cogent and salient posts going forward. Ultimately, I have a lot of respect for the work that 37 Signals has done to improve usability and design and thought on the web, I just find some of their blog posts to be a bit more noise than signal. :-)

David Ulevitch : Tumblr Photo

Sat, 8 Mar 2008 16:27:36 +0000

Testing comments.