The latest rumors... sounds like a walled garden to me.
Every entrepreneur goes through struggles while building his/her company. Gary has some great ideas on how to deal with your thoughts using something he calls the:
The Emotional Guidance System. (EGS)
Well worth a read.
gary kobat's..... " Without Limits. ": Thoughts Become Things....
This is simply a brilliant post. There are also a ton of equally good comments attached to it.
Michael sums it all up in a single sentence -
A platform that is technically flawed but has a good business model will always beat a platform that is elegant but has a poor business model.
Brilliant - forget these few lines at your own peril. Customer don't buy technology, they buy solutions to their problems, and for a business to be sustainable it has to have a good business model.
The Web is technically flawed, but it does have a good business model - compare that to developing on mobile - elegant platform controlled by the carriers for their business purposes. Hence mobile app's are doomed to failure.
The solution is to deliver Web applications as a service via the mobile browser. That's a proven business model that works OUTSIDE the carriers walled garden.
Fail to read this post from a Silicon Valley Lawyer at your own peril. It's is a MUST read for every entrepreneur.
What is an 83(b) election?
February 15, 2008
Failing to make a timely 83(b) election with the IRS is something that could lead to disastrous tax consequences for a startup company founder or employee.
Founders typically purchase stock pursuant to restricted stock purchase agreements that allow the company to repurchase “unvested” stock upon termination of employment. Similarly, employees may “early” exercise options subject to the company’s ability to repurchase “unvested” shares upon termination of employment.
Under Section 83 of the Internal Revenue Code, the founder/employee would not recognize income (the difference between fair market value and the price paid) until the stock vests. However, if a founder/employee makes a voluntary Section 83(b) election, the founder/employee recognizes “income” upon the purchase of the stock.
Typically, the purchase price for the stock and the fair market value are the same. Therefore, if an 83(b) election is made, there is no income recognized. Therefore, a founder/employee should almost always make an 83(b) election. The benefits of an 83(b) election generally are starting the one year capital gain holding period and freezing ordinary income (or alternative minimum tax) recognition to the purchase date.
If the founder/employee does not make the 83(b) election, then he or she may have income at the stock “vests.” The income will be substantial if the value of the shares increases substantially over time.
For example, assume that a founder purchases stock for $0.01 per share (fair market value is $0.01) and the stock is subject to four year vesting with a one year cliff. The founder does not make an 83(b) election. At the end of the one year cliff, if the stock is worth $1.00/share, then the founder would recognize $0.99/share of income. As the remaining stock vests each month, the founder would recognize income equal to the difference between the fair market value and $0.01/share. In addition, the company is required to pay the employer’s share of FICA tax on the income and to withhold federal, state and local income tax.
If the founder had made an 83(b) election, the founder would not recognize any income as the stock vests, as the 83(b) election accelerates the timing of recognition of income to the purchase date.
In order for an 83(b) election to be effective, the individual must file the election with the IRS prior to the date of the stock purchase or within 30 days after the purchase date. There are no exceptions to this timely filing rule. The last possible day for filing is calculated by counting every day (including Saturdays, Sundays and holidays) starting with the next day after the date on which the stock is purchased. For example, if the stock is purchased on May 16, the last possible day for filing is June 15. The official postmark date of mailing is deemed to be the date of filing. The election should be filed by mailing a signed election form by certified mail, return receipt requested to the IRS Service Center where the individual files his or her tax returns. If the election is mailed after the 27th day, the individual should hand deliver the letter to the post office to obtain an official date-stamp on the certified mail receipt. A copy of the election should be provided to the company, and another copy should be attached to taxpayer’s federal income tax return for the year in which the property is acquired.
Just about sums up what everyday should be like:
1. Only for today, I will seek to live the livelong day positively without wishing to solve the problems of my life all at once.
2. Only for today, I will take the greatest care of my appearance: I will dress modestly; I will not raise my voice; I will be courteous in my behavior; I will not criticize anyone; I will not claim to improve or to discipline anyone except myself.
3. Only for today, I will be happy in the certainty that I was created to be happy, not only in the other world but also in this one.
4. Only for today, I will adapt to circumstances, without requiring all circumstances to be adapted to my own wishes.
5. Only for today, I will devote 10 minutes of my time to some good reading, remembering that just as food is necessary to the life of the body, so good reading is necessary to the life of the soul.
6. Only for today, I will do one good deed and not tell anyone about it.
7. Only for today, I will do at least one thing I do not like doing; and if my feelings are hurt, I will make sure that no one notices.
8. Only for today, I will make a plan for myself: I may not follow it to the letter, but I will make it. And I will be on guard against two evils: hastiness and indecision.
9. Only for today, I will firmly believe, despite appearances, that the good Providence of God cares for me as no one else who exists in this world.
10. Only for today, I will have no fears. In particular, I will not be afraid to enjoy what is beautiful and to believe in goodness. Indeed, for 12 hours I can certainly do what might cause me consternation were I to believe I had to do it all my life.
To conclude: here is an all-embracing resolution: “I want to be kind, today and always, to everyone.”
I’ve started to think more about kindness. I thought of it as an important but bland virtue (in the same class as reliability and dutifulness), but I suspect that I’ve been overlooking something very important. I was just reading Henry James, who echoed the sentiment above: “Three things in human life are important: The first is to be kind. The second is to be kind. And the third is to be kind.”
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This is simply brilliant - Before and After - works in any language
Click on the link below
Interesting post by Om Malik - here
Couple of key points... (the underline is mine)
If in the first eight years of the 21st century contextual text advertising has proven to be the magic potion, then it is safe to say that the next decade or so is going to be about location-relevant advertising and marketing messages.
And...
After all, no marketing message is more effective than subliminal location-based relevance. It’s like going to the movies and realizing that you need to eat candy and popcorn, even though normally you never touch the stuff. In my case, given my weakness for shirts, a coupon offering a 10 percent discount on Thomas Pink shirts while walking around Union Square in San Francisco is pretty likely to result in a sale.
So lets get this right - local based search with contextual advertising that is personalized for me and the delivered to my mobile device inside my browser.
It's all about Me, My Device and My Location. Which is exactly what 5o9's technology enables
