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It’s been a busy year for VentureForth, with things kicking off last October at our annual Entrepreneur Conference. Mike
Lutz, Ray Smilor, and Gary Smaby were featured as keynote speakers while panels on venture capital, high tech spin-offs, and interna-
tional markets entertained and educated all who attended. A mix of students, faculty, and industry mingled at the La Jolla Radisson,
exchanging anecdotes and advice on the latest San Diego startups.
Local biotech can look forward to the second Annual Biotechnology Entrepreneurship Conference, a VentureForth
event that showcases entrepreneurs, investors and attorneys related to the biomedical field. The ABEC will explore the opportunities,
operation mechanisms and the factors needed to succeed in the biotechnology industry.
The conference features many leaders of the local biotech community speaking on various issues and companies in a panel format. This
year’s topics discuss the transition from academia to industry, recent trends in biotech, and legal discussions on startups, tech law, and
intellectual property.
We’re hoping this event will help San Diego industry generate successful startups from UCSD’s research and technology, as well as pro-
vide a venue for local entrepreneurs to exchange ideas and information.
This year’s ABEC takes place at the Institute of Americas, UCSD on May 21st. Keynote speaker Dr. Charles Cantor, CSO of Sequenom,
Inc will kick off the event at 9:30am, and the panels are expected to run until 3:00pm.
If you’re interested in joining VentureForth or would just like more information, please attend our regular Sunday meeting, 7pm, at
Revelle’s Plaza Café, or visit our website at: http://www.ventureforth.org
Contributing Writers:
Matthew Moore, Rex Chen,
Ryan Jolicoeur, Boaz Gurdin
VentureForth Quarterly | Winter 2005 3
motivated than giving rewards when times slide and focus on what is important.
are good and withholding when times are
bad? 25. Tell new hires the downsides
upfront
18. Remind them to question If you do not hide the difficulties of the job
convention and use common sense at first, you will get only the candidates
over rules ready for a challenge. For example, you
Many business processes and conventions could say “you’ll work harder here than
have led to company losses. Many rules anywhere else. You’ll get paid 10% less. But
do not apply in every circumstance. in the long run, with profit sharing, you’ll
Encourage employees to be creative and be way ahead.”
use their minds before acting.
Interactive Marketing
By Boaz Gurdin
At his talk at UCSD, Sony Pictures’ Vice President of
Interactive Marketing asked: “Has an Internet ad ever made
you cry?” How can Hollywood, the world’s best storytellers, use
technology to tell stories and create experiences in new ways?
More specifically, how can they use new media to produce short
compelling marketing pieces? I think that interactive worlds,
social interaction and contextual personalization are three good
uses of Web media.
Everything Connected
go on missions. It resembled Myst, except The Grudge inevitably
killed your character at the end. This online experience apparently
drew many moviegoers to the theater to watch the full story. The
lesson from this example is use film to tell a story, use digital By Boaz Gurdin
media to create an interactive world.
Dot-com CEOs such as Amazon’s Jeff Bezos are known for
saying that we are still just getting started with the Internet. The
Social interaction applies Internet connectivity to entertainment.
audience is known for thinking that is BS. And for a while after the
Why should the interactive world have a population of one? One
dot-com bust, the innovation slowed down and seemed like maybe
of my favorite socially interactive ads is a Method soap website
the Internet could now be considered “mature”. It occurred to me
where you could communally “wash away your guilt.” The
today why it’s not mature and what it will take for it to reach that
homepage was a bird’s eye view video of hands washing in a sink.
mark.
As visitors wrote in things they felt guilty about, one of the hands
would show its palm to the camera with a random person’s guilt
The Internet will be mature when everything is connected.
written on it. Then the hand would pump some Method soap,
rinse with water, and upon return the palm would be clean and
That’s not to say that I don’t think innovation will progress after
by implication the visitor would be clean of their guilt. Another
everything is connected over the next decade or two, but I think
favorite of mine is a Fanta Shokata website from Denmark where
that the way it fundamentally changes our lives is that it connects
visitors could create video clips by subtitling Bollywood movies
the world together in new ways. The car industry still has growth
(each of with ended with a Fanta tagline), and then share their
to come in alternative energy and emerging markets, but it is a
wit (or lack thereof) in an online gallery. The Grudge website
mature industry because we haven’t fundamentally changed the
even had a basic form of social interaction by displaying the
way we use cars in the last 50 years (since the growth of suburbia
first names of other visitors who “had a grudge against them” to
and the interstate highway system connected the world in new
make their interactive world seem popular. Whether it is group
ways I would argue). The Internet industry has not reached
communication, sharing your work, or showing usernames, social
such a maturity level and therefore I believe there are exciting
interaction enhances the experience of the interactive world.
innovations ahead that will change the way we live over course of
the next generation.
Contextual advertising and personalization is the marketing trend
that Google AdSense and Yahoo Overture successfully promote
The next wave of connectivity looks like it’s going to be
as the revival of online advertising. Instead of untargeted banners
entertainment. I’m looking forward to search entering the living
generally posted on sites with approximate demographics,
room, and will also be following how Xbox 2 and its XNA platform
technology can match ads to the right person at the right time
will create new connected forms of entertainment. RFID tags will
based on their usage history and keywords on the current page.
surely bring interesting applications (and huge privacy concerns)
This cuts out the wastefulness of the carpet bombing advertising
when they hit the store shelves, labeling every item we buy with
technique of running your advertisements everywhere to make
an electronic tag and thus making it available to the digitally
sure that your target audience will eventually find it. It means
enhanced world. I’m looking forward to Amazon’s and Google’s
more relevant ads for users, more money for owners of the website
book projects as well as their expansion into content databases
where the ad runs, and less wasted money for the advertiser. In
such as newspaper archives. If wireless telecom companies would
addition to contextual and personalized targeting, the content
open their networks it would be exciting to see cameras and other
of the ad itself can be personalized. The Grudge cleverly stored
devices go online. Creating standards for data and ubiquitous
a cookie so a few months after playing the game, a banner ad
devices to interoperate needs to be addressed sooner than later.
running on the Yahoo homepage would tell you personally:
Eventually I would be happy when people even view paper as a
“___[your name]___, the grudge never forgets.” Spiderman II,
member of this thoroughly connected world. These are some of
another Sony movie, produced a special trailer for women which
the exciting challenges of developing the connected world.
told the love story of the movie. Along with interactive social
worlds, the content personalization and market targeting are
As Jeff Bezos says: “work hard, have fun, make history.”
powerful tools for creating compelling new media experiences.
VentureForth Quarterly | Winter 2005
Industry News
How We Rate
It is often easy to forget how an individual’s job directly affects the There are few things that create more pride, motivation, and
bottom line for the company: in profits. Present in this section momentum than letters from real customers praising the
various ways that each type of employee directly correspond to company. There are also times when the easiest way to get over
getting higher profits, and they’ll work more efficiently. You can grievances (like a lost friend, employee, etc) than to share the pain
use both qualitative and quantitative descriptions. with others who care. This can be such an interest to employees
that they will read the newsletter just for this section itself.
Milestones
Spoofs & Entertaining Stories
If you revisit the previous month’s, or previous year’s
achievements, employees will feel the momentum created by In small doses, sprinkle in some doses of humor to keep people
other parts of the company and build upon them. It can be a reading – and to make it more fun to make the newsletter, as well.
big product launch, stellar financial results, a successful event; If this is absent, there is a good chance no employee will take the
anything that an employee can be proud of. time to read any of the newsletter at all.
There is very little that gets done during the days between
Christmas and New Years. So, why not just shut down, and give
some cash bonuses during this emotionally satisfying time of
year. Your employees will love you for it. Of course, do not make
this formal, because you never want to be locked in to such a plan. Dr. Michael Lutz shares his wisdom at the 2004 ABEC
Especially in the case that unions form.
VentureForth Quarterly | Winter 2005
admitted poor judgment and mistakes, but for any accomplishments no matter how therefore good leaders constantly
never lapses in character and principles. small. Leaders also take the blame upon reevaluate what they are doing.
Leaders must have high personal regard themselves for what is not done well. Individuals who aren’t leaders can stay
for the people they work with and those In this way they continuously foster the that way because they spend their time on
who follow them. Leaders also must make people under them. Trust others to do unimportant things.
sound decisions but quickly reveal when things, even if not perfect the first time.
they make mistakes and how they will fix People always live up to your expectations 18. A Leader Makes Big Sacrifices
them. of them, my grandfather has said. Give
them high expectations, and challenge The leader is always the one who steps up
7. People Follow Individuals them to go beyond. Do not ever undermine and takes the sacrifice to make the team
Stronger Than Themselves this empowerment -- especially as a win; at the very least, in order to set an
result of being afraid of maintaining example. This may be a total pay cut or
Leaders must be strong and standup for your own power. Some of the successful what have you, but the obvious lasting
their goals and their people. In the words organizations (such as G.E. and our benefits outweigh the temporary pain.
of my grandfather, you must have the country) even have very healthy (time)
“unbending endurance to stand pressures.” limits on maintaining power. 19. Timing of Leadership is
Important
8. A Skilled Leader Has a Biased 13. It Takes a Leader to Raise a
Read on Situations and Follows Leader It is at least important to realize that this
Intuition issue exists. Our leader President Jimmy
Leaders can naturally only learn from Carter was the right leader only at a very
A good leader reads a situation other leaders. In order to make a legacy specific time.
completely, but does not fail to take action live beyond your years, you must aim to
immediately based on intuition gained foster leadership around you and under 20. Leading Leaders, Not Followers,
from experience. you. Means Explosive Growth
9. Who You are is Who You Attract; 14. Individuals Buy in to a Person Many leaders choose only to lead followers.
Staff Your Weaknesses Before a Vision This is additive growth in terms of
efficiency and success. However, leading
People gravitate towards others who are It is wrong to assume that if you have a and fostering leaders, means that you have
like them. If you are entrepreneurial, you great vision that people will buy in to it multiplicative growth in terms of efficiency
will find other entrepreneurs will join you. for that reason. Instead, people go along and success because they in turn, will lead
If you have very strong leadership abilities, with leaders they like personally and get other leaders and followers.
strong leaders will be around you. Even if along with even during bad ideas. These
you are musically talented, you will attract followers simply wait for that person 21. Succession Means True Success
others who are similarly inclined. This is to come up with a good one. Make sure
a double-edged sword, of course, and you people trust you and believe in you. This Every leader eventually leaves. This
must never forget to seek out those who is the reason a lot of people with good goes for bosses, presidents, scientists,
are strong in your weaknesses. companies don’t get any venture capital, engineers, and parents. The best way to
and other companies do. Usually, that help your family, organization, and world,
10. Leaders Touch a Heart Before a person others buy into paint a compelling is by ensuring that you create an effective
Hand and passionate version of the future of way for all your sweat, blood, and hard
its organization and people, not just a work to continue on through another
The common saying is “People will not practical one. leader. We don’t think much of companies
care how much you know until they know and organizations that once made great
how much you care.” Leaders are careful to 15. Leaders Find a Way to Make the products but no longer exist.
form close relationships and care about all Team Win
of the people who work under them. They All of these laws, when mastered, make a
make everyone feel important and needed. Leaders will not accept defeat, and instead great leader, and the beginnings of a great
find creative ways to achieve victory at all engineer, scientist, parent, and human
11. Surround Yourself with Good cost. Perseverance is extremely powerful, being. I hope, like John C. Maxwell’s “The
People and when there is a will, there is a way. 21 Irrefutable Laws of Leadership”, that
you will revisit this list and build upon
We all have an inner circle of colleagues 16. Only a Leader Can Create Positive your leadership skills throughout your life.
that we rely on for advice and resources. Momentum Our world is in need of great people, and
The stronger leaders that the people in we’re the ones who make the difference.
the circle are, the stronger the leader with Momentum is a leader’s best friend. Wherever you end up, you will be able to
the circle becomes. We’re only as good as Recognize the opportunities for use these skills.
who we know, and thus should seek out to momentum around you and seize them.
surround ourselves with strong people.
17. Always Prioritize... Everything
12. Empower Others
There is always too much to do, and
The best leaders always give others credit