Category: Articles

MIT Smartest company in the world 2017

This post over at MarketInsider discusses how Nvidia helped with the AI revolution.

  • Nvidia is one of the best-performing companies of 2017, and it has a somewhat unique approach to investing.
  • The company isn’t necessarily trying to make money from the startups it invests in, but it is trying to get more people to use its GPUs.
  • As more data in the world is processed using artificial intelligence, the companies Nvidia invests in can help it create more potential customers.
  • Check out how Nvidia’s stock has done this year.

Nvidia, the maker of the graphics chips powering modern video games, was crowned the smartest company in the world this year by MIT, and it didn’t get there by accident.

The company helped spark 2017’s artificial intelligence revolution by providing the computing backbone for all the power-hungry AI systems. Its powerful graphics processing units and its CUDA software platform help speed up AI research in a way that isn’t otherwise possible.

MIT estimated that the company spent around $3 billion on its own R&D to develop its newest chips, but Nvidia is also investing in smaller companies and startups working on AI applications.

According to Jeff Herbst, Vice President of Business Development at Nvidia, the company has two main goals when it invests in a startup: make money, and spread the GPU gospel.

According to Herbst, 90% of the today’s data goes unprocessed, which is a travesty. For Nvidia, every underutilized dataset is another that could have been processed by one of its GPUs. To that end, the company looks for companies that can process more of the world’s data in unique and interesting ways.

There are three types of companies Nivida is currently investing in; self-driving cars and automotive companies, data analysis and artificial intelligence, and GPU deep learning. Nvidia’s current portfolio consists of more than twenty companies. Some, like Graphistry, are working on better ways to sort and use large data sets, while others, like DriveAI, are using data to develop the brains behind self-driving cars.

Herbst declined to provide the size of any of the investments or to quantify the performance of Nvidia’s portfolio. He did say that Nvidia has done as good or better than the top venture capital funds.

Herbst said that it’s only the “beginning innings” of AI research, and Nvidia is betting it can be there for the rest of the game. Part of those bets just happens to be in other companies.

Read more about what’s coming for tech in 2018.

Nvidia stock priceMarkets Insider

Krash – Shared Pads for Startups

In the USA it’s not uncommon for entrepreneurs to be sleeping on friend’s floors.  So much so that Krash have made a business out of it.

People share a house with other people who into networking that they can relate to, some people even share rooms!

 

Scrappy Startups

6 Ways to Build a Happy Startup Culture the Scrappy Way

Image credit: Shutterstock
Company culture can make or break an organization, and a common misconception is that it’s expensive to foster. Building culture should be viewed as a practice, not an expenditure.As a startup founder, I’m no stranger to doing things the “scrappy” way and through a combination of the best parts of my previous corporate cultures with trial and error. I was first exposed to the benefits of a happy corporate culture during my time at PeopleSoft (which has been deservedly honored as one of the best places to work in America numerous times). Prior to this I had worked at two other large corporations and I simply assumed happy culture didn’t exist.

Related: How to Build Meaningful Relationships in the Workplace

Founders are the ones who set the stage, as culture usually mirrors their beliefs. Because of that, it’s important to set the values and tone right at the beginning. Here are some of the tips and tricks that have worked for me along the way:

1. Be a compassionate leader and hands-on with everything.

As the founder, I’m also the one person in the company who has done everyone’s job. When you understand the challenges of each job, it’s easier to set reasonable, yet demanding, expectations and goals for everyone. When issues happen, you are able to walk in their shoes and try to solve the problem together. When things happen, and I’m not just talking about work, but life events too, be understanding, caring and flexible because that’s the first step to building a great culture.

2. Bring new hires on as contractors first.

Almost everyone at Love With Food is hired as a contractor for three months before being brought on board full time. Three months is a good time frame to test a new hire’s job performance and also a good period to see if the new hire fits the company culture. Sometimes a person just doesn’t fit culturally and you have to make a tough decision to remove him or her. It only takes one wrong fit to unravel what was previously a great environment.

3. Traveling as a team? Share a room.

Traveling to conferences can be expensive, especially when three to five team members attend together. To save money, we usually have three to four people share a room, and the upside is team building because it enables them to bond outside of work.

When I was invited to speak at the Hawaiian Food and Wine Festival in 2012, I decided to bring the team with me. Everyone worked really hard to get the company up and running, and the team deserved a break. At that time, we were a team of six. The six of us shared a tiny two-bedroom condo for four days. We cooked and hiked together. It was a memorable experience for all of us.

Related: 5 Traits of the Most Productive Startup Teams

4. Establish traditions.

Every April Fool’s Day, it’s Love With Food’s tradition to launch something ridiculous, such as LoveWithWeed.com. It’s great for publicity, but the main reason why it’s a tradition is because it’s great for team building. This is the one event during which everyone in the company will stop doing “real” work and go crazy with their ideas for four days.

Trust me, it’s worth halting real work for a bit because the hilarious ideas, laughter and humor is a great startup stress reliever!

The real sentiment here is tradition. Maybe it’s giving back at the holidays with everyone working in a soup kitchen or collecting gifts for underprivileged kids. Maybe it’s an annual camping trip. Whatever it is, separate yourselves from the day-to-day minutiae and bond over other activities.

5. Do something together.

Plan to do something together every six to eight weeks. At Love With Food, we love to eat. One of our favorite things is a potluck. We’ll agree on a common ingredient or theme and everyone will whip up their favorite dish regardless of culinary skills. The outcome is usually more amusing than appetizing. We also love cards, beer and pizza night. Cards Against Humanity is our go-to game. If your team members are into sports, plan a trip to support your local sports franchise. Not only does this help bonding it gives your team something to look forward to.

6. Encourage laughter.

Whether we are in the office or working from home, everyone is always on HipChat. There’s no rules about what can be said in the chat room, as long as it’s legal and not obscene. Our conversations are definitely about work, but there’s no shortage of GIF wars either. Humor is such an important part of our culture — any culture really — so finding ways to encourage and promote laughter goes a long way toward a happy team.

There are many ways to start planting the seeds for building a great culture in a startup that won’t break the budget. I would love to hear how you are building your culture at your startup.

 

The Scrappy Entrepreneur: Claw Your Way to Success

Written by Steve McGarry.scrappy

Our team at FunnelFeed became familiar with the term “scrappy entrepreneur” when we went through the Betaspring accelerator last year.

I didn’t truly understand the meaning and functionality until I moved out to Palo Alto a week ago. I was always under the impression that it meant “lean” or “bootstrapped.”

Funded vs. Scrappy

Entrepreneurs in San Francisco and Silicon Valley appear to be divided into two basic categories: (1) funded or (2) scrappy. Interestingly, both funded and scrappy entrepreneurs both compliment each other in the startup ecosystem.

A funded entrepreneur is someone who has received enough angel or VC investment to get their startup off the ground. They pay the insanely high rent in Mission Bay, Castro, SOMA, Palo Alto, Mountain View, and San Jose.

Scrappy entrepreneurs are the ones sleeping on the funded entrepreneurs couches. These are the fearless founders who are not afraid to live in their car to pursue their passions.

These two make up the startup ecosystem that has been rapidly growing out here for years. It will continue to flow smoothly as long as investors continue investing in startups and people are willing to live on the street for a dream.

The biggest difference that I quickly learned was that a funded entrepreneur doesn’t necessarily mean a successful entrepreneur. Startups fail every day. The best part about startup culture — unlike almost all other cultures — is that failures do not define who you are.

When I met with Tim Chae, a scrappy-turned-funded entrepreneur, who’s now an Entrepreneur-in-Residence at 500 Startups, told me recently that the difference between successful and non-successful entrepreneurs is based on how they react after receiving funding. The second they lose the “scrappy” mentality of “do whatever it takes to make my startup a success,” they are dead in the water.

The Startup Circle Of Life

The funded help the scrappy.

Wait, who’s helping who?

The magic is that this constantly flip-flops. When a funded startup fails, and a scrappy entrepreneur makes drives his or her startup to success (ramen positive) they help each other. It is just the way it goes. Here is a great example.

Given I am as scrappy as they come, I found a fascination with how this sustainable startup environment operates on a daily basis.

I have been meeting with fellow scrappy entrepreneurs who have told me their stories and pitched me on their concepts. Asked for introductions, which is what you need to be doing constantly. But, the bulk of my interest was meeting with the dozens of funded entrepreneurs.

All the funded (or previously funded) entrepreneurs said they started from sleeping on a couch, floor, car, or park bench. It’s basically like asking someone if they have ever grown up. Everyone has to do it, it is just a matter of how long.

I am currently living in a house with six other people, sleeping on various floor spaces. It is cheap and I am happy with meeting new people as they come and go.

This is all across the San Francisco and Silicon Valley. Actually, it is everywhere.

As a matter of fact people are now building businesses around it. When lived in Boston last year I lived in Krash. It was a great experience for an entrepreneur moving to a new city. Housing that was short-term, reliable, and safe.

In San Francisco there are twice as many “Hacker Houses” and “Startup Houses”all across the city. Most of them do not have names and cannot be found online. Word of mouth is a powerful tool when demand is high for housing.

What do all these startup “flop” houses have in common? They are owned or rented by a funded (usually Airbnb user) entrepreneur.

These people are moving the innovation needle by putting roofs over entrepreneur’s heads. Reward them.

Stay Scrappy San Francisco.


What do you think? Let us know on Twitter (@FunnelFeed).

Like our blog posts? Subscribe.

Frieze Recommends

WaitWhat

WaitWhat is a first-of-its-kind content incubator that invests in, develops and nurtures original media properties until they achieve great scale. For a combined 16 years, WaitWhat co-founders June Cohen and Deron Triff led TED’s media organization, growing TED Talks from zero to 1 billion views/listens each year through launching TED.com, the TED Open Translation Project, TED Radio Hour on NPR, TED in Cinema, and nearly 100 distribution partnerships around the world. Cohen was previously VP of Content at Wired Digital; Triff was previously VP of Digital Ventures at PBS.

 

Legendary Entrepreneur and Investor Reid Hoffman Hosts New Podcast Masters of Scale

NEW YORK, April 25, 2017 /PRNewswire/ — WaitWhat, a new content incubator founded by former TED executives June Cohen and Deron Triff, today announced Masters of Scale, an original podcast series hosted by LinkedIn Co-Founder and Greylock Partner Reid Hoffman, launching May 3 on Apple Podcasts, Stitcher and other audio streaming platforms. Created in association with Stitcher, the series features iconic entrepreneurs such as Facebook’s Mark Zuckerberg and Sheryl Sandberg, Airbnb’s Brian Chesky, Endeavor’s Linda Rottenberg, Netflix’s Reed Hastings, Crisis Text Line’s Nancy Lublin, Alphabet’s (Google’s parent company) Eric Schmidt, Minted’s Mariam Naficy, and Bill Gates, among others. Masters of Scale is the first American media program to commit to a 50-50 gender balance for featured guests

Resonance FM

Realised by a dedicated community of volunteer engineers and programme-makers, Resonance offers over 100 creative broadcast series every week featuring local and international artists, makers and experts.

There is a link between Resonance FM and Frieze Art Festival as Owner Matthew Slotover and Jasper Joffe Discusses weather art fairs are about money or not

History of the Art Fair

Notes from this PDF

In the 12th century, the artisanal fairs of Champagne appeared.

The ‘ward of fairs’ principle refers to a system of wardens or police that protected trade at a fair by ensuring that contracts were fulfilled, and that its attendants and goods were kept safe

‘conduct of fairs’
refers to a protective system for all merchants travelling to a fair

Due to their international nature, the fairs thus had to install a financial system of credit and money clearing (as all sorts of ‘currencies’ were circulated),

it allowed for economic surplus and profit with regard to scarce items

The market model inherent is that of the market as mirror, as developed in the theory of the network by Harrison C. White (1981). The main idea of White’s model is that the formation of prices is not according to their possible demand, but due to the observation of other competitors in the market

Goods could only be sold on particular days of the fair.
prices were formed through linking and contrasting the different goods being presented
the goods of a particular category were amassed at the fair and could thereby be compared

Daniel Defoe (1927) provides a vivid account of the Stourbridge fair8 in his A Trip to the Stourbridge Faire:

the shops are placed in rows like streets, whereof one is call’d Cheapside; and here, as in several other streets, are all sorts of trades, who sell by retale, and who come principally from London with their goods; scarce any trades are omitted, goldsmiths, toyshops, brasiers, turners, milleners, haberdashers, hatters, mercers, drapers, pewtrers, china-warehouses, and in a word all trades that can be named in London; with coffee-houses, taverns, brandy-shops, and eating-houses, innumerable, and all in tents, and booths (81). In the next citation, Defoe goes on to describe important param

3.2 Display, Arrangement, and Aesthetic Appeal
formal great square, form’d by the largest booths, built in that form, and which they call the Duddery

3.3 The decline
The market of commissioning works was replaced by a market of collectors. Nonetheless, this type of art market was still in its infancy, and would require the sales platforms provided by the great cities of the early 20th century to truly flourish.

Art Basel was mainly local in terms of art dealers and collectors, these attending dealers expressed an interest in finding collectors from abroad. Basel’s fair is similar to Cologne’s in terms of its arrangement and display (both resembled artisanal or antique fairs) (cf. Harris 2011), and only art dealers, not auction houses or single artists, could participate

Art Cologne and Art Basel were both highly successful15 in employing this kind of network structure, it is no wonder that FIAC in Paris and Arte Fiera in Bologna both reproduced the structure in 1974. Since the late 1960s, the number of art fairs has grown to the point where several hundred are known to exist today.

The first type of these art fairs appeared in cities such as Basel, Cologne, Ghent, Madrid, Brussels or Bologna, which were not hotspots in the international art market before the 1990s.

In the late 1980s, a second type of art fair, the niche art fair, appeared in places such as New York City and London. These small fairs were closely attached to the hot spots of the world art market, and thus could make use of an existing network of art dealers

This turbulence in the market was felt both in central art locations and throughout the periphery. Thus, art dealers developed two strategies to cope with the social turbulence. Established art dealers moved their pieces into established art fairs, such as Art Basel and Art Cologne, turning them into hot-spots

3.3 The Rise of the Dealer
art dealers could lease a booth from fair organisers (for example, the civic government of Antwerp). Here, for a temporary period, art dealers could come together and form a collection of dealers to attract a local and international clientele. The art dealer became a brokerage structure, which overcomes gaps in the network (see Burt 2005, 15), namely the dealer links seller and buyers, but also enables the sales through provision of external funding