The joys of gambling on startups. The investment banker wants to save his clients who put their precious money into the company at several times what the stock is now selling for. The company, like most startups, is a bottomless money pit. The founder is a talented techno geek, but a lousy businessman. He set the company up with various voting and non-voting stock so he controls his precious baby forever. (Facebook founder did the same thing.) The investment banker is desperate to save his clients. And that’s an honorable motive. He wants to save the company by putting more money in and perhaps turning it around with a better board. The company’s product is conceptually great. But it’s been implemented by a techno-geek who doesn’t understand marketing, or customer friendliness. There is a huge opportunity for Harry to make 20x on his money. But I’m scared. I emailed the investment banker this morning:
No shortage of money.
Shortage of logic and due diligence.
I still can’t use the app — despite hours of trying.
The software is screwed up.
That’s why no one has bit on it. Nobody has made a takeover offer.
The “product” is a good idea but the implementation sucks bigtime.
It needs to be fixed.
Do I make myself clear?
Please help my friends. They have a new baby. It sprays its food all over as babies do when eating off grownup spoons. There has to be a better way. Enter the Spuni, which they invented:
It’s a better spoon. Babies suck off it, without making a mess. It’s amazing. And it works.
You can help fund their new entrepreneurial venture. They need $35,000 to make their first moulds and make 5,000 Spunis for sale. Click here.
Indiegogo, like Kickstarter, is a crowdfunding source. These sites have exploded since Congress passed The JOBS Act, signed into law by President Obama on April 5, 2012. Best piece of legislation in 2012.
The boiler repair cost $3,486.80. That included $1528.24 of parts from Viessmann, the “reliable” German boiler maker, and $1,358 of labor. All this could have been avoided had someone thought of installing a single $5.47 surge aresstor.
No, go and install one on your boiler and and every other piece of electronics in your home or apartment.
You can get one from Amazon. click here.
Verizon iPhone 5 with 4G/LTE is ultra-fast. I don’t have one, yet. But I tested a friend’s. Frankly, I was amazed at how fast fetching information over the Internet had suddenly become. I don’t do much with my iPhone 4 and its 3G data service because it’s so slow. It’s painful. But this iPhone 5 plus 4G/LTE is a genuine game changer. It really allows you to be productive on the go.
Useful distinctions, from Wikipedia:
Heresy is any belief or theory that is strongly at variance with established beliefs or customs. Heresy is distinct from both apostasy, which is the explicit renunciation of one’s religion, principles or cause, and blasphemy, which is irreverence toward religion.
You can be executed for apostasy in some Middle Eastern countries.
Male Logic
Honey: “Could you please go shopping for me and buy one carton of milk. And if they have avocados, get 6.”
The husband returns with six cartons of milk.
“Why did you buy six cartons of milk?”
Husband: “They had avocados.”
Want a lift? Play the Gangnan Style video.
The video is now up to 881 million views. The best three minute feel-good you’ll have today. Watch the video. Click here.
Harry Newton, who spent yesterday and much of the weekend working with a WordPress guru to improve the look of the emailed newsletter. We’re making progress, albeit slowly. Hang in there. I know it still looks awful. If you can’t stand the look, come back to the original web site. We’re still here. Click here.
Hi harry,
Your great comment
Harry,
I’d consider it pretty bad German engineering to not include an integrated surge protector in their product. Inexcusable really.
My point precisely. I hope that my readers learn from my expensive misadventures.That’s why I publish them.
Maybe they learned from other countries about planned obsolescence? Maybe their engineers got overruled by their marketing folks?
I love the Spuni spoons having had a few babies myself. (BTW, Harry, you have any grandkids yet?)
I looked at the Spuni webpage and there are MIT engineers and NY package designers on the team. But there is not one marketing person, and no mention of how they are going to sell it. I love this line in the “critical steps” section: “US/Worldwide fulfillment to customers (April 22, 2013)” And how is that going to happen i might ask? Harry, you are right about the need for marketing. Perfect example.
Cheaper is not always better, Harry. Rather than a cheap-o surge protector I suggest people may wish to follow Charles’ advise in yesterday’s column and check-out http://www.deltasurgeprotectors.com/home.cfm
Ironically, just the day before yesterday our neighbors, about 500 yards from our summer cottage, had lightning strike a tree next to their house. A strong surge came through their electrical outlet, next to their bed, and started a fire that did substantial damage to their house. I sent the info about the Delta Surge Protectors to my wife’s nephew who is a licensed electrician. He had gone to check out the fire and check on our cottage. He said he felt the Delta Surge protector, for around $50.00, would most probably have saved their house. This protector protects the entire house, not just a single outlet. I am installing one at the cottage and in my home.
Excellent advice. Everyone should do it. Are you all listening?
Harry:
Just curious as to why you picked Viessmann for your boiler. There are at least 30 other manufacturers (some domestic) that make residential boilers. Was this a pressured decision (I need to install a new boiler now) or was this a sales pitch from your heating/AC contractor (much like the Wall Street guys selling their products)?
Or did it come with the house?
Color me curious
I enjoy your column.
Best regards
leoputchinski
The heating contractor and the builder said Viessman was the best boiler in the world and all that bull. It worked well for six years, until it got hit by an electricity surge.
Lesson obviously learned.
But the Space Shuttle is/was an awesome piece of machinery brought down by O-rings and foam chunks.
Who’s to say that it wasn’t “the best BOILER,” not to be confused with the best “heating system,” for the six years that it worked? (Yes, I know, sort of like an old-time Jaguar that was great when it wasn’t in the shop.)
Why didn’t the original heating contractor try to sell you a surge arrestor at the time of the original installation? Maybe in Germany, “everyone knows” to install a surge arrestor…
I have the new Nokia Lumia 920, also with super-fast 4G. Now, for the first time, I can actually enjoy and be productive online with a phone. I was tortured with a Samsung Captivate for two years. The Lumia has a bigger and better screen than the IP5, cost less, and I think it’s much easier to use. WSJ’s Mossberg complained about the size and weight, In this case, he’s very wrong. He must have weak hands and tiny pockets.
Mossberg has his own theories — just as you and I have our own.
Harry-
You are correct on the Verizon LTE on the IPhone 5. It is blazing fast in several cities I have used it in as well as my home area. I switched from AT&T to Verizon when the IPhone 5 came out and have not regretted it!
Steve H.
Amen.