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Friday, November 29, 2013
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The holidays are often less than merry if you have to deal with things like balancing work with travel, financial stress or seasonal affective disorder. I usually cope by listening to Merle Haggard's “If We Make It Through December” over and over and over again. This year, however, I also plan to make visual journaling app LifeCrumbs part of my daily routine. Made by a startup called Tomofun, LifeCrumbs was created around the idea that even on the gloomiest of days, there is always at least one good moment to salvage. The free iOS app, which will launch its Android version soon, lets you turn those moments into a visual calendar filled with photos of good memories.


Founded by Victor Chang and based in Taipei, Tomofun's mission is to build products that “find joy in the ordinary.” LifeCrumbs is actually the startup's second product; the first app they built never left the prototype stage because it did not receive enough positive feedback to justify a launch.


After that disappointment, Tomofun's team decided to regroup by going to the Philippines and spending summer 2012 volunteering with a homebuilding program.


“I met a five-year-old girl who had just lost her dad in a typhoon. When I gave her a cookie, she took that cookie, ran back to her family and split it six ways with them. Then she ran back to me, split it in half again, smiled and said thank you,” said Chang. “That changed my life because it made me realize you don't need a lot in life to be happy. That notion was so inspiring that I wanted to share it with other people.”

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Inspired by that moment, Tomofun began working on a journaling app to let people record meaningful moments from each day after returning to Taiwan. LifeCrumbs launched in closed beta in October 2012 before opening to the public last August. Since then, the team has continued to incorporate feedback from users and redesigned the app to make it even more visually oriented. LifeCrumbs is integrated with Facebook, Twitter and Instagram, so you can select updates from each network to import. Tomofun is currently self-funded and exploring several revenue models for LifeCrumbs, including selling sticker sets and letting users order their photo calendars as prints and other products.


There are a lot of other great apps that are designed to make journaling easy and pleasurable for busy smartphone users. Some standouts include Step Journal (which I profiled in May), Day One, Momento and Gratitude365.


LifeCrumbs seeks to differentiate by creating a positive and upbeat community within the app. The official LifeCrumbs account uploads inspirational quotes and photos each day and users gain points for uploading status updates and photos (though they can also choose to make their journals private). The team plans to launch more engagement features and activities like hashtag prompts to encourage people to upload and comment on photos around the same theme.


The idea of keeping a gratitude journal or participating in a community filled with people intent on finding a memorable moment during even the cruddiest of days might seem cloying or (for the more curmudgeonly among us) even downright horrifying. But it can pay off. Researchers have found that keeping gratitude journals encourages healthier habits, better sleep and can even improve emotional and physical resilience.


I also like the idea of having a safe place to indulge my inner Pollyanna without being accused of being an “Instasham” or irritating my wider group of Facebook friends. LifeCrumb users have dedicated their visual calendars to daily updates about their children, pets, weight loss progress or best meals. Some have even turned the calendar into a budgeting tool by taking photos of what they bought (or didn't buy). If you update your LifeCrumbs journal regularly (or at least go back and fill in the days that you missed), then by the end of a few weeks you'll have a collection of about 30 good moments to enjoy at a glance (even if the month was otherwise lackluster).


“People kept coming back and letting us know that it is great to be able to see your memories laid out in a calendar format,” says Maggie Cheung, LifeCrumbs' community manager and Tomofun's director of social marketing. “Each visual acts like a mnemonic to bring back the memory.”







12:09 AM

The holidays are often less than merry if you have to deal with things like balancing work with travel, financial stress or seasonal affecti...

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Thursday, November 28, 2013
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One thing the UK, a huge finance market, has been lacking in recent years is something equivalent to Mint.com. Now Money Dashboard hopes to fulfil at least part of that role. It's a ‘smart' account aggregation service that automatically analyses online banking statements. It's now secured a £2.7 million ($4.4 million) investment round, led by Calculus Capital, a fund which manages private equity funds for individuals. Money Dashboard aims to now develop new services, including launching mobile apps.


In addition, ZAG, a venture-led branding agency under BBH, it to become a shareholder now that it will handle the launch and marketing of the new products.


Money Dashboard – going since 2010 – tells UK consumers how much they spend each month on food, leisure and many other categories, for free. It aggregates current, savings and credit cards accounts together in one place, with the same security levels as online banking.


The result are some pretty cool charts showing you spot areas where you could make savings. It also provides spending forecasts and can make consumer aware of their ‘Clear Cash' figure that is available to spend before pay day.


Alerts can also be set, including notifications when balances fall to the point where they risk triggering annoying bank charges. The technology is ‘read-only' therefore no money can be moved or transactions processed through the site.


The business model is generating the majority of revenues by harnessing data to offer ‘switching services' , whereby Money Dashboard gets paid for funnelling users towards energy, broadband, fixed line and satellite TV packages, loans and other services. Not unlike Uswitch.


Susan McDonald, chairman of Calculus Capital, says: "This is a genuinely exciting business with huge potential.” Founder Gavin Littlejohn says: Money Dashboard's rich vein of data and insights will also be further developed.”


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4:23 PM

One thing the UK, a huge finance market, has been lacking in recent years is something equivalent to Mint.com. Now Money Dashboard hopes to...

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It's Thanksgiving in the States and tomorrow is the biggest shopping day of the year. In fact stores will be open tonight so you can elbow your way into a scrum of bargain hunters and frotteurists. I'm here to tell you it's a sucker's game, at least when it comes to consumer electronics and computer hardware.


This is not to say you shouldn't go out tomorrow. Are you looking for toys, scarves, and underwear for the family? By all means hit the malls. Those “soft goods” are so cheap wholesale that stores can afford to discount them drastically in hopes that you'll make up for loss in profit with sheer volume. See a Lego door buster you've got to have? You better get in there.


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But computer hardware is a far different matter. Consumer electronics margins are so low right now that manufacturers make pennies per device. Deep discounts usually happen to items that are on their way out anyway. I checked out Best Buy's Black Friday page. The iPad 2 is on sale there for $299 – it's normally $399 – but it's the Wi-Fi only 16GB model, pretty much the entriest of the entry level. You can grab a 64GB model refurbished for $469.00 on Apple's website. “But this is for mom,” you say. “She wants to read and maybe Skype us.” Get her the Kindle Fire HDX for fifty less, no mall visit needed.


What about those $300 laptops (BB has a Toshiba model)? Well, the laptops on sale aren't going to be on the market for much longer and Black Friday is a great way to clear out old stock. CES is right around the corner and we can expect Intel's Broadwell chip to launch in a quarter or so. Therefore you're buying obsolescence on sale.


Don't expect to get a deal on an Xbox One or PS4, either. You won't even see one in stores, let alone get a discount on one.


Going for the TVs? BB is selling their Insignia brand 39-inched for $169. This is an in-store deal which means you probably won't get one. Do you want want? Eh, sure, if you're looking for a 39-inch monitor without many frills. Is it worth stabbing a grandmother over in order to score the last box? No.


In the end Black Friday is an exercise in pure commerce. Stores want you to come in because it means they can clear out all their stock in a few short hours. It gives them a cushion for the slow post-holiday season and it makes shopping look like an event. While I'm all for expansion of the commercial spirit, I think Black Friday is such a cynical and scammy experience that it's hardly worth rolling off the couch to partake in. Make some real nerds happy – hit the small guys online, pick up some ThinkGeek stuff or some cool board games or Estes rockets from a smaller hobby shop and let somebody else fight over a $12 Blu-Ray player.







1:39 PM

It's Thanksgiving in the States and tomorrow is the biggest shopping day of the year. In fact stores will be open tonight so you can elb...

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It's Thanksgiving! And, judging by the fact that you read tech blogs, you're probably at least a bit of a geek. Know what that means? Today's the day you get to answer all of your extended family's tech questions! Hurrah!


For the last few years, that's probably meant explaining the difference between iPhone and Android. This year, you'll probably get to explain what the heck this “Bitcoin” thing is at least twice.


Fortunately, one of the top Bitcoin exchanges has just launched an informational site that ought to make things a bit easier to understand.


Putting their Bitcoins.com domain to a pleasingly non-spammy use, Mt.Gox has just relaunched the domain as an introductory repository of information focused on all things Bitcoin. While they could've just put up a big static page that says “WANT BITCOIN? GO TO MT.GOX” and called it a day, it seems like they're actually trying to stay relatively neutral; while Mt.Gox is mentioned a few times on the page, it's generally alongside mentions of other exchanges.


While the site doesn't explain everything (they only briefly touch on how Bitcoin mining works, for example, presumably to avoid getting too technical), it's a pretty solid primer and they cram a lot of information into a rather tight package. If nothing else, it's a good way to brush up on the higher level details before your friends and family start askin' about it.


Oh: and if the recent hype has you thinkin' that Bitcoin is a brand new thing, check out the timeline on the bottom of this page. Bitcoin's been coming together for years.


[Fun fact: Mt.Gox is an acronym for Magic: The Gathering Online eXchange. Mt.Gox was originally a place for people to trade Magic: The Gathering Online cards. They switched to focusing on Bitcoins in 2010. Best pivot ever?]







12:53 PM

It's Thanksgiving! And, judging by the fact that you read tech blogs, you're probably at least a bit of a geek. Know what that means...

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Google's decision to share user data across Google services, revealed in an update to its policy back in March 2012, isn't strictly kosher with Dutch privacy law, the Dutch Data Protection Authority said Thursday. Google doesn't “properly inform users which personal data the company collects and combines, and for what purposes,” according to a statement by the DPA issued via press release.


While the DPA says that Google is definitely in the wrong in this case, there aren't any immediate measures being taken to punish Google or prescribe any corrective action. It does however state that Google's current means for securing user permission to collect their data is insufficient. That means simply offering up a single general privacy policy and terms of service document isn't enough, especially when combined with the fact that it is “almost impossible not to use Google services on the Internet,” according to the DPA.


Google is definitely in violation of the law according to the body, but Google itself denies the validity of that claim, according to an emailed statement received by Computerworld. Google also says it's in constant communication with the Dutch DPA and will continue to work with the organization going forward to resolve the issue. The next step is a hearing at which Google will face the DPA's decision about how to proceed in terms of corrective or disciplinary measures.


Google's privacy policy switch definitely irked users, and clearly some government organizations have taken issue with it as well. There are more changes planned for implementation soon, like Google displaying Google+ images in ads unless users opt out. Hopefully this corrective action has some kind of effect on the Internet giant's ability to unilaterally change the way it uses the user data it collects, but I'm not holding my breath.







11:39 AM

Google's decision to share user data across Google services, revealed in an update to its policy back in March 2012, isn't strictly ...

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It's Thanksgiving, and IBM, via its Benchmark data service is once again tracking how U.S. consumers are taking to the web to kick off their holiday season shopping, with early indications that this year is looking a bit softer than 2012. Overall, Thanksgiving online sales are up 9% over last year. On the same day in 2012, they were up by over 14%. And the average value of an online order is down slightly, too. IBM tells me it is $132.13 so far for today; in 2012, it was $132.57.


Within that, newer platforms like mobile are getting ever more popular: mobile accounted for over 35% of all online traffic, up almost 30% compared to 2012. Mobile sales were over 22% of all online sales. It's no surprise that mobile continues to grow: many people are together with friends and family, and often converging in living rooms and maybe in front of TVs or at parades or other events. That means less time at computers and turning to smaller and more portable screens to catch the latest deals.


IBM's data is bearing out a trend we've seen elsewhere, that tablets, rather than smartphones, are driving more actual conversions to purchases. Smartphones today have so far driven 22% of all online traffic, IBM says, versus just 12.5% for tablets. But tablets have driven 13% of all sales online, 1.5 times the rate for handsets at 9%. The bigger screens of tablets are also driving more valuable orders - $125 versus $114.21 when items are purchased on smartphones.


iOS may be losing to Android in overall marketshare globally, but when it comes to the U.S. market, it's still the most engaged platform, particularly for e-commerce. It has so far seen more than three times the amount of sales that Android has - or 17% versus 5% of all online sales. iOS users spent $120.03 per order, IBM says, with Android at $114.19 (very close to the smartphone average basket value, in fact). iOS devices have accounted for 24% of all online shopping traffic so far; Android 10.5%.


Last year IBM stirred up a bit of controversy when it noted that social networks were driving only 0.2% of online sales. This year, the numbers are a bit better: social networks so far are driving about 1% of sales, IBM tells me - “which is not to say social is not important, it has more of an indirect influence on sales - i.e. consumer perceptions of products, brands, customer experience,

which influences purchasing,” a spokesperson tells me.


So far, Facebook is winning out over Pinterest in terms of driving more valuable purchases, at $108.41 per order compared to $102.61 per order for Pinterest. Facebook referrals converted sales at a 43% higher rate than Pinterest referrals, “perhaps indicating stronger confidence in network recommendations,” IBM notes.


IBM says that it will update again with fresh numbers in a few hours. Last year, sales crept up the whole day, and by midnight, sales were up 17.4% over 2011, with an especially strong push for mobile commerce. Some 25.3% of consumers used mobile devices to visit retailers' sites in 2012, up 66% over 2011. And 18.3% of consumers used a mobile device to buy something, up 65% over 2011.


The bigger picture for this year, according to Forrester's estimates, are U.S. online holiday sales will reach $78.7 billion this year, up 15% over 2012, when sales topped $68.4 billion. Forrester predicts that 167 million shoppers will do their holiday shopping online, spending an average of $472 for the season. Going against the slightly softer numbers IBM is showing, Forrester's Sucharita Mulpuru is more optimistic: “Strong economic growth and low unemployment rates project a healthy playing field for online holiday sales and outweigh any lingering dampening effect of the government shutdown,” she writes.







10:39 AM

It's Thanksgiving, and IBM, via its Benchmark data service is once again tracking how U.S. consumers are taking to the web to kick off ...

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So you think you want to be a VC. It sounds like a pretty cool job, after all. You have good pay and benefits, get to meet with lots of interesting entrepreneurs and play with cool technology, can hang out in khakis all day…


But what about the dark side of venture capital? What's the worst part about having an office on Sand Hill Road and investing other people's money? (Hint: It's not eating breakfast at Madera, getting coffee at The Creamery, or having drinks at the Four Seasons Battery every day.)


A thread on Quora seeks to find an answer to just this topic, and it's one of the more interesting reads you might run across on the QA site. While there are lots of great answers from folks like Mark Suster, Ethan Kurzweil, and Andrew Parker,* the runaway favorite is a response from an anonymous VC who claims 10 years of experience as a general partner at one of the bigger venture funds out there.


While noting that being a VC “is really the greatest job on earth” and that “saying no” wasn't a hard part of the job, just part of the job, Anonymous goes on to describe the things that really do suck about being a VC… Which can pretty much be boiled down to “dealing with other VCs.”


That includes both VCs within your own firm, as well as those you co-invest with. Let's start with those you work with directly:



At a large fund, there are lots of partners. And what it takes to become a partner at a big fund and stay there for years is often a high asshole factor, ability and desire to deal with firm politics and internal jockeying for power.


Don't get me wrong. There are some great great partners. But I think 2/3rds of the people in the GP ranks at big firms have massive egos (as one LP put it “VCs have more ego per dollar of return than any asset class we know of”)



Not surprisingly, Anonymous goes on to break out the “crazy back room politics” general partners deal with, as well as senior partners who don't add a lot of value and JUST. WON'T. RETIRE.


So maybe you're able to navigate the assholes you choose to work with. What about those you end up on boards with? Anonymous paints an even bleaker picture there: When it comes to companies that have multiple VCs as board members, each has “their own agendas and egos”… And big surprise, those agendas aren't always focused on what's best for the company, but external stuff like “fund reserves, fund life, etc.” which impact their decisions and advice.


If you can get through all of that, then you're faced with dealing with the clueless limited partners who invest in your fund. As Anonymous describes, “LPs are the lagging-most indicators in the entire economy.” And, well, don't really understand (or care to) what they're actually investing in.


Anonymous also describes all the loneliness associated with being a VC, as well as the emotional ups and downs that they go through when portfolio companies aren't really working out the way they'd hoped. But let's face it, it's tough to feel sorry for anyone making “$500k to $2M per year” whose job it is to pick winners and losers in the game of tech.


Anyway, now here's the fun part: We know enough about Anonymous to make a reasonable guess as to who he or she is, or at least which firm he or she works for. Being a general partner for 10 years at a “big fund” with “multiple tiers of partners,” “crazy back room politics” and “senior partners who are well past medicare age” kind of narrows things down a little. (Or, well, maybe not.) Anyone care to take a guess which firm we're talking about?


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* My favorite response actually comes from Kristine Lauria, who is married to a VC and says the worst part of being one is “High risk of divorce because you never see your wife.” OOOOH BURN.







9:09 AM

So you think you want to be a VC. It sounds like a pretty cool job, after all. You have good pay and benefits, get to meet with lots of inte...

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