When the New York Times punctures a White House meme, it can reasonably be considered a flop. Last week, Barack Obama himself accused the Chamber of Commerce of using foreign money to push its domestic political activism, which would violate election law. Unfortunately, as the Times reports, the White House had absolutely no evidence of any wrongdoing. And Obama failed to mention that plenty of groups on the Left, especially labor unions, raise money outside the US as well.
Now the White House is trying to step back from their earlier accusations of illegality, but they’re still desperately trying to hang onto the line of attack:
White House officials acknowledged Friday that they had no specific evidence to indicate that the chamber had used money from foreign entities to finance political attack ads.
“The president was not suggesting any illegality,” Bob Bauer, the White House counsel, said. Instead, he said Mr. Obama’s reference to the chamber was meant to draw attention to the inadequacies of campaign disclosure laws in allowing groups to spend large amounts of money on politics without disclosing their donors.
White House officials called on the chamber to go beyond current disclosure laws and establish that no foreign money has been used in its political campaigns. “They can put this to rest,” said Joshua Earnest, a White House spokesman. “They have the keys to the file cabinet.”
Is that how it works in the United States in the era of Hopenchange? The President makes an accusation of lawbreaking without any evidence of it, and the entity accused has to prove their innocence? In this country, the government has to prove its case, not the defendant, and even before making an accusation of wrongdoing usually has to have some evidence of the crime in the first place.
This kind of rhetoric is nothing short of McCarthyism. The government makes baseless accusations and then blames the people accused for not clearing themselves. Will Obama start appearing at rallies with his “little list” of an ever-changing number of foreign contributors? The White House launched the same kind of baseless attacks on the Koch family and Americans for Prosperity this summer and have yet to offer one substantial piece of evidence that any of these groups or people have done anything wrong at all, except to oppose Obama’s policies.
This is an administration that apparently has never learned the difference between being a political campaign and serving in the government. In the former situation, this would constitute slander, which is bad enough. When it comes from the government, it’s a form of tyranny — an attempt to use the power of government to silence dissent.
I wrote about two startups today that raised angel-sized financing rounds of around $1 million each: Hipmunk and Alphonso Labs. What caught my eye about both deals is this – neither had involvement from the so called “super angels” (except Hipmunk, which took an investment from SV Angel).
Hipmunk raised from traditional individual investors. Alphonso Labs raised money from venture capitalists.
Super Angels are investors who previously invested only their own money but at some point raised small funds and started investing third party money. That makes them indistinguishable from traditional venture funds in most respects.
Unlike angel investors, super angels have limited partners to answer to. And if returns aren’t competitive, those limited partners go elsewhere. Which is why we’re seeing so much stress emerge in the sector. Competition is fierce, and valuations are rising.
In fact, valuations are rising so quickly that a crucial psychological milestone has been reached – the $4 million pre money valuaiton. That was the primary reason that led to the formation of the AngelGate group, say multiple sources who attended those meetings.
For the first time this year the valuation on early stage deals started to average more than $4 million, say our sources. And that is the threshold where super angels’ valuation models start to break.
In a typical super angel round a company will raise $1 million on, say, a $4 million pre-money valuation. That gives investors 20% of the company, which is worth $5 million after the transaction is closed (the $4 million valuation plus the $1 million they just received)
Unlike old school venture capitalists, super angels are only counting on small exits of $15 million – $30 million. They need 7/10 or more of their companies to have these small exits to make any money. Any less and they won’t be able to raise new funds. Traditional VCs only count on 3-4 deals even returning capital. The rest are losses. But at least one of those ten deals is a huge home run, returning 10x the initial investment. Or more.
But with valuations rising, say investors we’ve spoken with, even 7 or 8 “wins” out of 10 won’t be enough to sustain the funds, given how small the acquisitions are. So exit valuations must increase, which is unlikely given the small number of buyers competing for deals, or valuations need to decline.
Some investors are just paying the higher valuations – Dave McClure is a notable example. Others are sitting on the sidelines and not investing much.
But all are griping.
The rising popularity of convertible notes, which are actually debt rounds that convert to equity later on, is increasing stress on the system. In some cases there aren’t any price protections for investors in those deals at all.
What happens next? Some of the super angel funds need to disappear, say Silicon Valley insiders. And maybe that’s for the best. The ones that are left standing will have an easier time making money down the road.
robert shumake twitter
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iLounge news discussing the Photo of the Week: iPhone 3GS in Shanghai. Find more Site News news from leading independent iPod, iPhone, and iPad site.
robert shumake hall of shame
When the New York Times punctures a White House meme, it can reasonably be considered a flop. Last week, Barack Obama himself accused the Chamber of Commerce of using foreign money to push its domestic political activism, which would violate election law. Unfortunately, as the Times reports, the White House had absolutely no evidence of any wrongdoing. And Obama failed to mention that plenty of groups on the Left, especially labor unions, raise money outside the US as well.
Now the White House is trying to step back from their earlier accusations of illegality, but they’re still desperately trying to hang onto the line of attack:
White House officials acknowledged Friday that they had no specific evidence to indicate that the chamber had used money from foreign entities to finance political attack ads.
“The president was not suggesting any illegality,” Bob Bauer, the White House counsel, said. Instead, he said Mr. Obama’s reference to the chamber was meant to draw attention to the inadequacies of campaign disclosure laws in allowing groups to spend large amounts of money on politics without disclosing their donors.
White House officials called on the chamber to go beyond current disclosure laws and establish that no foreign money has been used in its political campaigns. “They can put this to rest,” said Joshua Earnest, a White House spokesman. “They have the keys to the file cabinet.”
Is that how it works in the United States in the era of Hopenchange? The President makes an accusation of lawbreaking without any evidence of it, and the entity accused has to prove their innocence? In this country, the government has to prove its case, not the defendant, and even before making an accusation of wrongdoing usually has to have some evidence of the crime in the first place.
This kind of rhetoric is nothing short of McCarthyism. The government makes baseless accusations and then blames the people accused for not clearing themselves. Will Obama start appearing at rallies with his “little list” of an ever-changing number of foreign contributors? The White House launched the same kind of baseless attacks on the Koch family and Americans for Prosperity this summer and have yet to offer one substantial piece of evidence that any of these groups or people have done anything wrong at all, except to oppose Obama’s policies.
This is an administration that apparently has never learned the difference between being a political campaign and serving in the government. In the former situation, this would constitute slander, which is bad enough. When it comes from the government, it’s a form of tyranny — an attempt to use the power of government to silence dissent.
I wrote about two startups today that raised angel-sized financing rounds of around $1 million each: Hipmunk and Alphonso Labs. What caught my eye about both deals is this – neither had involvement from the so called “super angels” (except Hipmunk, which took an investment from SV Angel).
Hipmunk raised from traditional individual investors. Alphonso Labs raised money from venture capitalists.
Super Angels are investors who previously invested only their own money but at some point raised small funds and started investing third party money. That makes them indistinguishable from traditional venture funds in most respects.
Unlike angel investors, super angels have limited partners to answer to. And if returns aren’t competitive, those limited partners go elsewhere. Which is why we’re seeing so much stress emerge in the sector. Competition is fierce, and valuations are rising.
In fact, valuations are rising so quickly that a crucial psychological milestone has been reached – the $4 million pre money valuaiton. That was the primary reason that led to the formation of the AngelGate group, say multiple sources who attended those meetings.
For the first time this year the valuation on early stage deals started to average more than $4 million, say our sources. And that is the threshold where super angels’ valuation models start to break.
In a typical super angel round a company will raise $1 million on, say, a $4 million pre-money valuation. That gives investors 20% of the company, which is worth $5 million after the transaction is closed (the $4 million valuation plus the $1 million they just received)
Unlike old school venture capitalists, super angels are only counting on small exits of $15 million – $30 million. They need 7/10 or more of their companies to have these small exits to make any money. Any less and they won’t be able to raise new funds. Traditional VCs only count on 3-4 deals even returning capital. The rest are losses. But at least one of those ten deals is a huge home run, returning 10x the initial investment. Or more.
But with valuations rising, say investors we’ve spoken with, even 7 or 8 “wins” out of 10 won’t be enough to sustain the funds, given how small the acquisitions are. So exit valuations must increase, which is unlikely given the small number of buyers competing for deals, or valuations need to decline.
Some investors are just paying the higher valuations – Dave McClure is a notable example. Others are sitting on the sidelines and not investing much.
But all are griping.
The rising popularity of convertible notes, which are actually debt rounds that convert to equity later on, is increasing stress on the system. In some cases there aren’t any price protections for investors in those deals at all.
What happens next? Some of the super angel funds need to disappear, say Silicon Valley insiders. And maybe that’s for the best. The ones that are left standing will have an easier time making money down the road.
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robert shumake twitter
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robert shumake twitter
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ABC <b>News</b> Exclusive: Tea Party Candidate in Nevada Senate May Tip <b>...</b>
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iLounge news discussing the Photo of the Week: iPhone 3GS in Shanghai. Find more Site News news from leading independent iPod, iPhone, and iPad site.
robert shumake twitter
When the New York Times punctures a White House meme, it can reasonably be considered a flop. Last week, Barack Obama himself accused the Chamber of Commerce of using foreign money to push its domestic political activism, which would violate election law. Unfortunately, as the Times reports, the White House had absolutely no evidence of any wrongdoing. And Obama failed to mention that plenty of groups on the Left, especially labor unions, raise money outside the US as well.
Now the White House is trying to step back from their earlier accusations of illegality, but they’re still desperately trying to hang onto the line of attack:
White House officials acknowledged Friday that they had no specific evidence to indicate that the chamber had used money from foreign entities to finance political attack ads.
“The president was not suggesting any illegality,” Bob Bauer, the White House counsel, said. Instead, he said Mr. Obama’s reference to the chamber was meant to draw attention to the inadequacies of campaign disclosure laws in allowing groups to spend large amounts of money on politics without disclosing their donors.
White House officials called on the chamber to go beyond current disclosure laws and establish that no foreign money has been used in its political campaigns. “They can put this to rest,” said Joshua Earnest, a White House spokesman. “They have the keys to the file cabinet.”
Is that how it works in the United States in the era of Hopenchange? The President makes an accusation of lawbreaking without any evidence of it, and the entity accused has to prove their innocence? In this country, the government has to prove its case, not the defendant, and even before making an accusation of wrongdoing usually has to have some evidence of the crime in the first place.
This kind of rhetoric is nothing short of McCarthyism. The government makes baseless accusations and then blames the people accused for not clearing themselves. Will Obama start appearing at rallies with his “little list” of an ever-changing number of foreign contributors? The White House launched the same kind of baseless attacks on the Koch family and Americans for Prosperity this summer and have yet to offer one substantial piece of evidence that any of these groups or people have done anything wrong at all, except to oppose Obama’s policies.
This is an administration that apparently has never learned the difference between being a political campaign and serving in the government. In the former situation, this would constitute slander, which is bad enough. When it comes from the government, it’s a form of tyranny — an attempt to use the power of government to silence dissent.
I wrote about two startups today that raised angel-sized financing rounds of around $1 million each: Hipmunk and Alphonso Labs. What caught my eye about both deals is this – neither had involvement from the so called “super angels” (except Hipmunk, which took an investment from SV Angel).
Hipmunk raised from traditional individual investors. Alphonso Labs raised money from venture capitalists.
Super Angels are investors who previously invested only their own money but at some point raised small funds and started investing third party money. That makes them indistinguishable from traditional venture funds in most respects.
Unlike angel investors, super angels have limited partners to answer to. And if returns aren’t competitive, those limited partners go elsewhere. Which is why we’re seeing so much stress emerge in the sector. Competition is fierce, and valuations are rising.
In fact, valuations are rising so quickly that a crucial psychological milestone has been reached – the $4 million pre money valuaiton. That was the primary reason that led to the formation of the AngelGate group, say multiple sources who attended those meetings.
For the first time this year the valuation on early stage deals started to average more than $4 million, say our sources. And that is the threshold where super angels’ valuation models start to break.
In a typical super angel round a company will raise $1 million on, say, a $4 million pre-money valuation. That gives investors 20% of the company, which is worth $5 million after the transaction is closed (the $4 million valuation plus the $1 million they just received)
Unlike old school venture capitalists, super angels are only counting on small exits of $15 million – $30 million. They need 7/10 or more of their companies to have these small exits to make any money. Any less and they won’t be able to raise new funds. Traditional VCs only count on 3-4 deals even returning capital. The rest are losses. But at least one of those ten deals is a huge home run, returning 10x the initial investment. Or more.
But with valuations rising, say investors we’ve spoken with, even 7 or 8 “wins” out of 10 won’t be enough to sustain the funds, given how small the acquisitions are. So exit valuations must increase, which is unlikely given the small number of buyers competing for deals, or valuations need to decline.
Some investors are just paying the higher valuations – Dave McClure is a notable example. Others are sitting on the sidelines and not investing much.
But all are griping.
The rising popularity of convertible notes, which are actually debt rounds that convert to equity later on, is increasing stress on the system. In some cases there aren’t any price protections for investors in those deals at all.
What happens next? Some of the super angel funds need to disappear, say Silicon Valley insiders. And maybe that’s for the best. The ones that are left standing will have an easier time making money down the road.
robert shumake hall of shame
robert shumake hall of shame
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robert shumake hall of shame
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Whenever I get a discussion about making money on-line, I'm always quick to point out the fastest way to make real money is to write product reviews. Yet, when I tell people that, they are just as quick to tell me they just can't do something like that. Either because they think it's too much work or they feel they aren't good enough writers.
That, to me, is nonsense. Everyone can write a review regardless of how talented they are. In fact, I can break it down to six easy steps.
First, know your product. At one point, when I first discovered how much money I could make writing reviews, I attempted to review stuff I hadn't even used before. It just didn't work. Look around your house for stuff you use every day. If you know the product, it's easy to write about it; especially if it's something you would recommend to a friend.
Second, decide if it's something you like or hate. If you can't decide, ask yourself if you would buy the product again or look for something different. This step is your introduction:
"I recently purchased the Mayflower Nose Hair Trimmer and, after using the product for two weeks I can tell you I would never buy it again."
Step three is telling people about the product itself and why you bought it in the first place:
"The Mayflower Nose Hair Trimmer is a rechargeable trimmer that is available at most department stores for around $20. I bought it because my nose hair grows extremely fast and I figured it would save me a few extra minutes each morning over trying to trim it with a pair of scissors."
The fourth step is to list what you like or dislike about the product. This can be everything from what you spent on it to the color. To have a good review (and help you achieve any minimum length) personalize it a bit:
"The Mayflower Nose Hair Trimmer is extremely noisy. Whenever I'm using it, my wife can hear me using it in the living room on the other side of the house; something that is a bit embarrassing to me. I also found that, rather than cut my nose hair, the trimmer tends to pull. In fact, I've gotten a slight nose bleed a couple of times after using it."
Step five is actually the opposite of step four. If you liked the product, try to think of something you didn't like about it and vice versa. In addition to helping you hit your minimum length, this also shows you're trying to be unbiased when you write your review:
"I do like the slick, compact design of the Mayflower Nose Hair Trimmer. It fits easily in my hand and I can maneuver it around and in my nose without any difficulty. It's also very easy to clean the trimmer after each use. All I need to do is run the tip under warm water."
The last step is probably the hardest; writing an ending for the review. I found the best way to do this is simply recapping what you said before:
"Despite the awesome design and the fact I can clean it easily, the noise and the fact it doesn't cut as well as it says makes me think the Mayflower Nose Hair Trimmer was a big waste of money. If you see it at your store, look at a different product instead."
The fictional article I wrote above is about 255 words. That would be good enough for about half the sites I could submit it to. If you need it to be longer, simply repeat steps four and five until it's long enough. If you really know your product, this won't be hard and you'll have a review you're both proud of and will be receiving money for.
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