Chris R's Weblog

Daily link November 16th, 2007

The US dollar is starting to bounce back

So, finally, in the nick of sweet time, the USD is starting to come back. This is good for us. I am very pleased with this development.

Chart

Daily link November 16th, 2007

I wanna run teh BeerCo, how much?

When I changed our slogan to “We know the cost of doing business”, I’m not joking. It literally costs a fortune. This was a light month so far as compared to the last one when we had insurance and other yearly payments.

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When I said I could liquidate BeerCo and buy a Ferrari in my last post, I wasn’t kidding. Just our intellectual property registrations and backgrounds on projects are worth enough for that. When people say they’re going to hire a 3rd world coder on RAC and get them to code Google for 15k, I look and I laugh. The cost of doing business is incredible in Canada, and to some extent the US. It’s a real reality check. Even the little grocery store you have on the corner of your local street streams tens or hundreds of g’s.

Step back and really think about the cost of creating a search engine, Facebook clone or whatever, and how much goes into that, before you think “hey, big deal, I can do that” and try to sell it to a risk capital person with forecast numbers you pulled from last week’s bingo on your business plan. Exit capital is getting thin. The time you put into a business is worth more than anything else.

UPDATE: I posted this to emphasize the costs of doing business in IT. We are TINY. We are the littlest of little people. Our budget is literally NOTHING compared to most software companies. Our net yearly earnings is less than the salary of a single Microsoft employee(they have 75k employees). The whole 3rd world thing without spending millions on infrastructure for training is complete nonsense for businesses that need scalable dependable solutions with structured support. Use your brain when you see articles written about these types of ventures. 99% of the articles posted about internet ventures don’t make sense if you apply them to the real world and that’s the test they ultimately have to pass.

Daily link November 16th, 2007

Venture Capital, why are the worst ideas getting the most money?

Does having a good idea or being successful have anything to do with receiving funding?

Sadly the answer is no. If you can make up some snazzy numbers in a business plan and present it to people that use the internet for email and online checking only, namely risk capital bankers, it would seem you can get millions for even the worst ideas. Why?

They all think that they can exit with an upsell. Just like the subprime mortgage crisis in the US, where they thought the equity in the homes would more than cover the bad loans. In exactly 1 or 2 years when these companies fail on the 2nd round, there is going to be a MASSIVE crisis.

Why will we succeed amidst this business suit born stupidity? Because we are selling keywords on a search engine we made with a few thousand dollars. Maybe 20-30k. That’s not even 1% of the budgets of these funded VC projects for selling popsicles to virtual Eskimos. We won’t have to incur interest, nor will we have to incur a moron on our board of directors trying to mash our technology with his wife’s favourite clothing store for no other reason then he’s completely ignorant.

This is part of the reason Google made it in the dotCOM bust of 2000 when so many others failed.

If I was in the same business as them, I would liquidate everything immediately and buy a Ferrari. No joke. I would drive it across Canada back and forth. Because what they’re trying to do is hopeless.

Daily link November 16th, 2007

It’s 6:30 AM and it’s time to get ready for work

I finally fixed the time bug on this blog, which had marked all blog posts and comments as 1 hour later than they actually were as per Eastern standard time. It is about 6:30AM right now.

I am going to shower and get ready for work. As usual I will try to arrive about an hour early at about 8AM to watch youtube videos, iTunes stuff and to turn everything on. I have some kind of headache, but I can’t figure out why. I guess that’s why god invented aspirin. :)

See you at work!


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Chris R. works at BeerCoSoftware.com (title: President of Development and Sales). This is Chris's work blog.

Disclaimer: BCS will not let personal views of any employee, including Chris, regarding any software product, company, standards or otherwise get in the way of any company that hires it to provide a solution. Companies pay BCS and BCS provides solutions regardless of the views of any employee. That’s part of being professional, and BCS is a professional software company.

Everything here is Chris's personal opinion and is not read or approved before it is posted. No warranties or other guarantees will be offered as to the quality of the opinions or anything else on this blog.

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