<![CDATA[Gawker: valleywag, thefunded]]> http://tags.gawker.com/assets/base/img/thumbs140x140/gawker.com.png <![CDATA[Gawker: valleywag, thefunded]]> http://gawker.com/tag/valleywag/thefunded http://gawker.com/tag/valleywag/thefunded <![CDATA[TheFunded offers up documents to EDF's lawyers with a smile]]> Adeo Ressi, founder of TheFunded, an acerbic site where entrepreneurs review venture capitalists, dropped by the office of McDonough Holland & Allen the other day. That law firm represents EDF Ventures, which is the VC firm that's to be avoided unless you're "desperate," according to TheFunded's users. EDF is suing in order to reveal the identity of a critic who posted a poor review of the Michigan-based fund for misrepresentation. A common practice among VCs embarrassed by bad reviews.

Ressi had the cheek to make a little video where he personally delivers the documents EDF requested. He assures the audience that they contain no information that will identify "John Doe," the unnamed defendant in the suit. The smiling Ressi makes a thumbs-up gesture at the end, clearly mocking the litigants. It also suggests that such charming and friendly customer service can be yours if you pay to promote your fund on the site.

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<![CDATA[Michigan VC firm sues anonymous commenter]]> Venture capitalists are rigorously image-conscious — and laughably bad, for the most part, at keeping up appearances. Take EDF Ventures, an obscure Michigan VC firm, which may well have gotten a bum rap on TheFunded.com, a VC-ratings site. After issuing a subpoena to find the identity of the entrepreneur who said the VC firm was "to be avoided unless you are desperate," it has now filed a lawsuit against the anonymous commenter. "If someone lies about you, it isn't right," says Mary Campbell, the firm's founder.

EDF's main factual quibble: The poster claimed to have worked with EDF on "several deals." EDF partner Mike DeVries says the company has never done multiple deals with the same entrepreneur.

Which just goes to show how tone-deaf EDF's legal adventure is. Most venture capitalists love to talk about how they keep entrepreneurs coming back for more. That EDF has never worked with the same entrepreneur twice is a far more damning admission — from the mouth of one of EDF's partners! — than anything written on TheFunded.com. Campbell and DeVries might be able to prove their point, at the cost of further damage to their firm's reputation.

Far better for EDF to have focused on the commenter's claim that EDF's deal terms are harsh. The PE Data Center, a research service, finds that EDF's terms, on balance, favor neither the investor nor the entrepreneur.

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<![CDATA["Desperate" VCs try to squeeze TheFunded.com]]> Michigan-based venture capital firm EDF Ventures issued TheFunded.com a subpoena, asking the VC-ratings site to ID a commenter who wrote that EDF is "to be avoided unless you are desperate.” VentureBeat has a copy of the subpoena. TheFunded CEO Adeo Ressi told entrpreneurs their bitchiest secrets are safe with him. Said Ressi: "TheFunded does not store IP addresses, email addresses, or any other personal information associated with a Member account in any database or any file system operated by the company." Funny, before this, we'd never even heard of EDF Ventures. Now they've established what the PR people call messaging: EDF is an obscure VC firm known mostly for being touchy and litigious. To be avoided unless you are desperate.


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<![CDATA[TheFunded hopes the bridges aren't burned]]> Adeo Ressi hates venture capitalists. His disdain has always showed on his site, TheFunded.com, where wantrepreneurs slam VCs with anonymous posts. Now Ressi hopes the sides can make amends on TheFunded's new ad-supported matchmaking service. [San Jose Mercury News]

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<![CDATA[Wired in 1,200 words]]>
Wired 15.12 comes in at two pounds, half the weight of a September Vogue. Most of it's the water weight of ads and a shopping guide, and I've summarized the meat of the issue in 1,200 words, so now you don't need to pick it up and risk ergonomic injury.

Start

  • Superpowers fighting to claim the melting, oil-rich Arctic will want the moon next; we need the rule of law.
  • New unsticky "Clean Gum" won't mar sidewalks.
  • Satellite photos caught an empty Burma during a communications blackout.
  • Faceslam: Facebook snub. Crowd farming: Stadium foot traffic as power plant.
  • Forty rocketeers made an X-Wing, but it exploded.
  • Chipuya Town is a Japanese mobile MMORPG.
  • Matter/antimatter mix powers superlaser.
  • Athlete's foot medicine contains no surprises.
  • Mr. Know-it-all: Surgical masks do little against Chinese pollution. eBay bidding just for good feedback violates TOS. Shark cartilage doesn't fight cancer.
  • Russia's covering Chernobyl with a steel shelter.
  • Fire hoses spray mist on ignitable gases.
  • Lace running shoes more comfortably: One normal cross, then up to the next eyelet, then cross again.
  • Memorize numbers by giving each digit a mnemonic, then think of those mnemonics appearing along a walk around your block.
  • Google buys companies that dominate, are first to a space, or could be a threat if Microsoft buys them.
  • Self-absorbed geeks = "microcelebrities."
  • Preteens are the best competitive texters.
  • If The Golden Compass makes bank we'll see two sequels.
  • Scotsmen have reinvented ancient Scottish ale.
  • Infoporn: Silly Santa math.

Play (highlights)

  • Stripper-blogger Diablo Cody wrote the sweet new comedy Juno.
  • Comic book Persepolis became a 9-out-of-10 film.
  • F4CC motorcycle could go over 200 mph but the tires would melt.

The Angry Mogul

  • CD sales fell 10 percent in 2006. The future is digital.
  • Universal Music CEO Doug Morris made Yahoo and YouTube pay to run music videos. He made Microsoft pay UMG a dollar per Zune. He's pissed at piracy. But he's letting Amazon sell DRM-free MP3s.
  • Why DRM-free? To break Apple's monopoly. iTunes represents 20 percent of all U.S. music sales.
  • UMG's digital revenue comes from iTunes and cell companies (ringtones).
  • UMG will sell a subscription service (with DRM) called Total Music, urging Microsoft to add it to Zunes.

The Ultrabuilder

  • The secret behind future "supertall" buildings is the buttressed core, a Y-shaped floor plan with a strong central support.
  • Structural engineer Bill Baker is the go-to man for supertalls.
  • Baker designed the butressed core to maximize window access and usable space in skyscrapers like the over-2600-foot Burj Dubai; it makes buildings taller, faster to build, and potentially more profitable.

Ode to Joystick

  • Video Games Live directs live orchestra and choir videogame music performances.
  • Creator Tommy Tallarico and conductor Jack Wall arrange the score and direct local musicians at symphony halls.
  • VGL and competitor Play! are barely profitable, but they bring a new 20s/30s crowd to symphony halls.

Getting a Grip

  • Making robots interact with a human environment, even finding and picking up a stapler, is tough.
  • Solution: Make them learn. AI, for real this time, honest!
  • RoboCub is a humanoid bot being taught to mimic and learn from human motions it sees.

Features
What Went Wrong

  • Iraq went wrong because we concentrated on the hardware, not the social landscape.
  • Since the '90s, everyone (including Wired) got excited about war in the information age.
  • Under Bush, Rumsfeld made an Office of Force Transformation to give the armed forces a $230-billion networked makeover.
  • That hasn't helped against our tech-primitive enemies in Iraq.
  • Oh, our technology worked great for invasion, but it's rubbish at securing peace. For that, we actually need troops.
  • For example, 150 troops are in charge of security for the 50,000-person Iraqi city of Tarmiyah.
  • Their leading officer recruits local watchmen to help.
  • US forces have sophisticated command centers on a network (CPOF), but the system was designed for "short, decisive battles" against armies, not extended missions against insurgents.
  • Many forces can't get online enough to make CPOF useful.
  • Meanwhile, insurgents just use the Internet and TV, and they already know the local culture.
  • Psyops agent Joe Colabuno wins over informants by knowing the culture, name-dropping sheikhs and debating using the Koran. He makes posters spoofing insurgents to sway public perception.
  • General Patraeus still believes in network-centric warfare, but as the man behind the surge, he believes in adequate troops too.
  • The co-conceiver of networked warfare says: Combat operations are like football; stability operations are like soccer. The network model needs to adapt.
  • The Army is adapting, spending $41 million on "Human Terrain Teams" of "150 social scientists, software geeks, and experts on local culture." They're credited for more local support and less combat in certain areas.
  • HTTs will become more integral, but we don't know if they'll be armed or given command authority.

Back to the Futurama

  • Five years after Fox canceled it, David Cohen and Matt Groening's Futurama returns on Comedy Central.
  • The new shows — four features split into 16 22-minute episodes — are also being released on four DVDs starting November 27.
  • Fox shuffled the show during its four seasons, and ratings dropped.
  • Added to those four years, reruns and DVD sales earned over $100 million, estimates a writer.
  • Creators are David X. Cohen and Matt Groening.
  • Groening, Simpsons creator, still draws a weekly comic strip called Life in Hell. He has never seen any Star Trek.
  • Cohen is a Trekkie, invented "Worst. Episode. Ever," and loves sci-fi.
  • Futurama is about pandering to the elite audience. Cohen checks the web to see fans discover hidden jokes; then he makes the jokes harder.

Your DNA Decoded

  • A thousand-dollar test tells you what diseases your genes predispose you to, as well as other factors.
  • In the future, we'll use genetic information to plan our lives, and we could live an extra ten years.
  • 23andMe, founded by Anne Wojcicki, wife of Google cofounder Sergey Brin, will give people their genetic info and build a database for research. Google invested $3.9 million.
  • FedEx 23andMe a ten-minute wad of spit, and view your results online in under a month.
  • There's still much to learn about which combinations of genes cause what conditions.
  • It cost the Human Genome Project $3 billion to map an entire genome in 2003; it's about $250,000 now.
  • Disease isn't solved yet; half of heart disease cases aren't explained by known risk factors.

Chat: Rich Barton, Zillow

  • The housing crunch makes Zillow's algorithmic house appraisal more useful.
  • Selling houses is no longer binary: homeowners can name a "make me move" price.

The Bone Factory

  • Many medical skeletons are illegally shipped overseas. India has long been the biggest exporter.
  • The country banned exporting human remains in 1985, but the black market thrives.
  • India banned exports after a bone trader with 1500 child skeletons was suspected of kidnapping and killing the children.
  • Skeletons are vital for medical schools.
  • Example process: Corpses are taken from funeral pyres or graves, anchored in a river where they're eaten to mush and bone, scrubbed, sunbleached, and sanitized.

The Secrets of Silicon Valley

  • "Ted," founder of TheFunded.com (where startuppers rate venture capital firms), is Adeo Ressi.
  • Ressi, a self-promoter, made millions with 90s dot-coms, then started an online gaming platform Game Trust, which was taken over by investors.
  • Ressi started TheFunded in response, getting friends like Weblogs Inc. founder Jason Calacanis to tell stories.
  • When firms started invading TheFunded, Ressi banned shills to keep ratings real.
  • Angel investments are surpassing VC money; hedge funds offer a low-maintenance alternative. VCs have to emphasize "customer service."

Nick Douglas writes at Valleywag, Too Much Nick, and Look Shiny. He would, in fact, read that magazine if you paid him to.

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<![CDATA[Entrepreneurs to VCs: Stop sharing my ideas!]]> anonymous entrepreneur behind VC-rating site TheFunded.com put together a memo telling Sand Hill denizens how to "be a better VC." In short, it's a list detailing the most common complaints users of his site make about venture capitalists. We got our grubby little hands on a leaked copy. The lessons? Entrepreneurs want a better communication, firmer answers, and for VCs to want them for their companies, not their business secrets. The biggest complaint? That VCs regularly leak business plans and confidential documents to other startups, even potential competitors. We ask: Is this really a new phenomenon? VCs are typically exempt from non-disclosure agreements, something entrepreneurs should always keep in mind. The threat of an idea leak seems to be the price to pay for the pleasure of doing business with Sand Hill Road. Is the shocking part that VCs "cross pollinate" the competition using ideas swiped from pitching startups? Or that some entrepreneurs are such dumbasses that they're surprised by it? After the jump, TheFunded's full list of ways to be a better VC.
Be a Better VC, Courtesy of TheFunded.com

In May, 2007, TheFunded.com launched an area for CEO's to post "Open Letters" to the venture community, telling venture capitalists what they feel needs to change about the fundraising process. Four months later, hundred of CEO's have voted on the letters, and there are five lessons for VC's from the Members of TheFunded.com.

(1) It's OK to say "No." There are hundreds of posts by frustrated CEO's who have been strung along by venture firms unwilling to say "yes" and equally unwilling to "no." Meanwhile, every post where an entrepreneur gets a quick "no" tends to be positive. This should give the venture community a clear message: end the infamous "Soft Maybe" once and for all. As one CEO commented, tell the company what you don't like or what needs to change, rather than playing an elongated game of wait and see.
—- http://www.thefunded.com/funds/item/858

(2) My materials are confidential, please! The title says it all. Many frustrated CEO's from around the world are very upset by personal experiences where they receive plans from competitors or have their plans shared by venture capitalists. Some are calling for NDA's to be signed before sensitive diligence is sent out to venture capitalists as a practice and looking to "out" funds that have done this on TheFunded.com. Some funds have already been called out on the site for doing this, but some of the CEO Members are concerned about being "black balled" for doing so.
—- http://www.thefunded.com/funds/item/1016

(3) Tell me something, anything! One of the most common complaints across TheFunded.com is the long time between pitch and follow-up. Seasoned entrepreneurs know that a financing takes months to close, but getting an email or a call follow-up to a pitch meeting should not take months or even weeks. As one Member mentions, just write: "We didn't forget about you. We're still discussing your venture." If it's going to take a couple weeks for you to get back to entrepreneur, tell them in the meeting.
—- http://www.thefunded.com/funds/item/616

(4) A little manners goes a long way... There are hundreds of posts about the poor treatment of entrepreneurs in the pitching process, and it's time to change that. Imagine being on an airplane to meet a fund later that day, and they cancel the meeting and reject your deal in a two line email while you are in the air. Imagine being handed off to a junior associate, going through a pitch, and then the partners that you were supposed to meet with appear in full golf gear and ask you start again from scratch. The stories of poor treatment and lack of manners are too frequent.
—- http://www.thefunded.com/funds/item/1722
—- http://www.thefunded.com/funds/item/456
—- http://www.thefunded.com/funds/item/613
—- http://www.thefunded.com/funds/item/1370


(5) I am not a source of free research! Numerous of posts complain that CEO's receive unsolicited calls by associates at venture funds expressing "interest" in their companies and wanting to learn more about the business. In many cases, the CEO's realize that the fund is considering an investment in a competitor and doing research. In other cases, funds are doing research on a market where they have investments or are considering investments. None of these calls ever lead to a deal, however, and the members agree that this practice needs to stop. If you need to do research, tell the CEO up-front and let them decide if they want to give you information. The false pretenses of an investment need to go.
—- http://www.thefunded.com/funds/item/797
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