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Archive for March, 2011

The Economist “Ideas Economy” Conference at UC Berkeley

March 25th, 2011

This week the Economist sponsored The IDEAS ECONOMY Conference at the Haas School of Business on the Berkeley campus.  I attended both days and enjoyed meeting many innovation experts from around the world.

A  look at Twitter:#ideaseconomy provides some short insights from the conference and here are a few of my favorite tweets:

  • H Chesbrough – Opening up processes to include the customer is even more important with services #ideaseconomy
  • Paul Kedrosky (Kauffman Foundation): We think of ourselves as economic virus hunters #ideaseconomy
  • Elon Musk: Success = talent x drive x opportunity. If any of those goes to zero, success is impossible #ideaseconomy
  • RT @govlab: Aneesh Chopra on stage showing that govt, innovation, and entrepreneurship can go together. #ideaseconomy
  • Fun at Economist Innovation Summit! IRS asking question of Scott Cook (Intuit) then NASA asking Elon Musk (SpaceX) #ideaseconom

What were the “big ideas” from the event?  Here are my top four:

1) The World is turning into an Idea Economy- we have entered a period where the Democratization of Ideas seems more potent in many ways than technology, leadership, and geography.  In this new economy, one’s location (Silicon Valley, New York City,  Cambridge UK, Beijing, or Finland) is not so important as the way in which ideas are shared and collaborated on.  The concept of  Open Service Innovation is taking hold (see my Haas colleague, Henry Chesbrough’s new book on this topic,) – and innovative companies are getting their ideas, as well as their execution from all corners of the world.

2) Education will be radically transformed in the next 10 years – lots of examples were presented at this conference that indicate that the global education system is about to be transformed by technologies such as cloud computing, virtual classrooms, video conferencing, and distance learning tools.  This transformation will bring affordable teaching to third world and developing countries, but also represents an opportunity for major “brands” like Harvard, Brown, Cal, Stanford to take a leadership in creating the “virtual” campus to extend their brand.

3) Government programs for entrepreneurship seem to be a priority of the current administration – for example, entrepreneurs have a tax break and angel investors have a break as well (through the end of 2012) for angel investing (perhaps partially explains the rush of angel capital investments moving into start-ups these days). Other programs like Start-up America (this is a good video – done YouTube style)…. Aneesh Chopra, CTO of the United States was interviewed at this conference.  He was praised for how worn out his shoes seem to be. Point of fact, he seems to intimately know many of the entrepreneurs, angels and VCs here in the Silicon Valley.  A good sign.

4) Think nimbly, make mistakes, fail often – this theme was stressed at the conference in many different forms and seems to capture the mindset of today’s most successful entrepreneurs.  Marc Zuckerberg , CEO of Facebook has been said (in an interview in 2010) “move fast and break things”.   This is a radical departure from 15 years ago, when companies carefully thought out and planned software development.  Given costs associated with cloud computing, open source programming, and other technologies, companies can afford to experiment and fail often – as long as they are tracking the results on their customers and changing course to reflect customer needs quickly

In contrast to TED, The Economist conference is smaller and more intimate.  So, it’s easier to talk with leading experts. Unlike TED, the conference was attended largely by a group of corporate executives and writers who are all intrigued by notions of

I’ve enjoyed attending both TED and The Economist events this Spring, but I still miss the intimacy and power of the early TED events in Monterey, when only 400 people attended and one could more easily kibitz with founders from Yahoo, Google, Amazon, MIT Media Labs, Microsoft and more.

The serendipity of TED

March 4th, 2011

I’m at the last day of the TED ’11 conference in Long Beach, CA.  Many friends have asked me about TED over the years: what’s it like? who goes? how do you get in?. This is my fifth – and there are many “TEDsters” here that have come far more times than me.  I find the Serendipity of TED to be an interesting topic…

Gratitude for Wurman and Anderson

I’m grateful for what Richard Saul Wurman created in 1984 – the early TEDs took place in Monterey, in a fairly intimate setting, with just a few hundred people…and equally as grateful to Chris Anderson, who’s non-profit entity acquired TED in 2001 and has turned it into a global media brand.  Grateful for amazing connections, great content, and vibe.  TED now has conferences throughout the year:  the big event in Long Beach (from which I am posting), the TEDGlobal in summer – now moving to Scotland, and over a THOUSAND TEDx events throughout the world – in every imaginable country – over the past few years.  The website is one of the best video content sites on the web, boasting hundreds of high-quality videos of “Ideas Worth Spreading”…

Ideas Worth Spreading

Ideas are just ideas, unless they do spread to the right minds, hearts and activists. And that’s where the magic of TED seems to work and continue to grow.

TED 2011 Main Lobby

Here at the TED conference, I survey the outside hall:  to my left Al Gore is standing and conversing with a group of repeat TEDsters, behind him Vinod Khosla holding court, with daughter (who presented this year at TED) next to him, and behind me Jason Mraz, musician (who was incredible last night on stage) walking by with his friend/partner in trademark fedora.  Beyond them, scores of venture capitalists that I recognize from the Silicon Valley mingle with 20ish looking young men in jeans and sneakers.  Sitting on the stairs, the founder of Amazon, with family in tote.  Chris Anderson, holding hands with wife, Jacqueline Novogratz (CEO of Acumend Funds).  Off in far corners of the room, scores of creative people mingle, talk excitedly about art, science, music, mother-in-laws and raising kids.   This is a typical scene for TED.

This year’s TedEd talks, held on Mon, Tues and Thurs mornings were short 5 min talks – and many were fascinating. The topics went from How to MindMap a TED talk (by Nina Khosla) to genomes on the Internet (by friend, Jim Hornthal) to the Hoax of State Budgets (Bill Gates).  This short-form talks are a great way for a wide variety of TEDsters to show off another unique aspect of TED:  the diversity of participants from teens to baby-boomers, from scientists to musicians.

The scene not only creates viral spread of ideas, but so does the website, which is available for free to anyone in the world? Missed a session? Look it up on TED within 3 months and you’ll likely find it.  In the future, TED will be broadcast in many companies (their latest endeavor) around the world simultaneously to the live event – so thousands of viewers can watch live, even though at a distance.  That creates more spread.

Sweet Serendipity

What makes this all worthwhile for these folks to shell out $7500 (plus hotel, flights, food) each year?  Serendipity, most likely. At TED, one sets oneself up for that serendipitous moment…a “TEDEd lecture earlier this week by author John Hagel emphasized that serendipity can actually be encouraged, planned for and enhanced.  TED is the ultimate example of this.  The serendipitous moments come when you sit down in the 2000-person auditorium next to the founder of Twitter (as I did yesterday),  or grab coffee and run into someone you’ve followed on Twitter (@aplusk) for a pleasant conversation on the state of Angel Investing…

But, here at TED, serendipity doesn’t seem to be simple luck.  Although the event has reaching proportions that sometimes make you feel like you are at a large trade show party (last night’s party for example, featured a 30-foot puppet and hanging gymnists), the event is set up to allow for interactions, exchanges, and lots of causual “bumping into”.  The five days quickly blend into a blur of great conversations with highly creative people, people who are here to learn and to meet others, many who come with open minds.

At the Intersection

I think what TED represents best is an “intersection” of creative thinking from around the world.  Movie stars, venture capitalists, engineers, singers, adventurers, scientists, mathematicians, CEOs – all in one place – all with expertise in some area, but open  mind to BLEND their expertise with other “ideas worth spreading”.  This is very much like the

Musician & friend, Jason Mraz on stage, Thurs

experience that the Medici Family created in 15th century Florence when they brought together groups of this nature.  So, think of TED as the traveling/virtual equivalent of Firenze.

TED has been a great experience for me over the years…nearly each time I have come, I’ve developed relationships that have been long-lasting, career-changing.  Two of my greatest triumphs and failures have come from relationships with well-known TED speakers that were made here at the conference:  one led to the biggest return in the history of my venture work, another led to less-than-successful (nonetheless interesting) start-up which caused me to question who I really am.  That’s the thing about TED, the serendipitous moments that are created by the intersection of so many wonder-filled people,