Recently came across 'Innocentive' covered in NYTimes.
InnoCentive is an online open innovation marketplace - a "problem solving" web site - that rewards smart people for good ideas. Companies and organizations (seekers) post problems (challenges) that they are unable to solve within their organization to people all over the world (solvers) who win cash prizes for resolving them. It is free to join and if your solution is chosen - you win. Awards range from $5,000 to $1,000,000.
You can use your knowledge and expertise to make a real difference and get paid for solving these problems too. Considering the vast pool of brilliant and creative people with varied expertise available to passionately solve real life problems in the world the success rate is bound to be good. I heard in the Business Week podcast that 40% of the problems are solved which is an exceptional number for the cost and resources.
Sen. John McCain of Arizona, the Republican nominee for president, has proposed that the government offer $300 million to whoever invents a battery compact enough, powerful enough and cheap enough to replace fossil fuels. (something similar to Innocentive)
To see the details of available Challenges and register with InnoCentive click here:
Join Innocentive
If you have the world's brightest minds solving your problem what more do you want?
Concepts like these will definitely help the world become a better place for all of us to live.
Thursday, July 24, 2008
Thursday, July 3, 2008
Monday, June 23, 2008
A Two-part Rule for Naming Your Startup
Use a compound name, with 2 components: one word that relates to the product and a second word that represents a metaphorical adjective that evokes the characteristic of the company's product. Some examples, PayPal, IronPort or Brightmail.
Read more about it here.
Read more about it here.
Tuesday, May 13, 2008
Cash is King
What do you do if you have several billion dollars burning a hole in your pocket? Read the wonderful article on Cnn Money.
Click here to read the entire article.
Click here to read the entire article.
Monday, May 5, 2008
Market Update
Oil has been flirting with $120/barrel and in fact has surpassed that as of today. Based on the Goldman Sachs' report which says that by 2009 it could be upwards of $150/barrel I think it is better to use public transport and go biking! It is definitely going to be in the forefront since a lot depends on the price of oil.
The Microsoft (MSFT) - Yahoo (YHOO) deal did raise many eyebrows but eventually it did not go through and Yahoo(YHOO) is facing the consequences. It fell by 15% yest.
Boeing (the 787 Dreamliner delays continue though), ExxonMobil (the profits has attracted attention from all the politicians while the gas rebate has become an issue), American Express (reassuring the state of consumer credit), AT&T (the Cingular acquisition and the Iphone were two crucial turning points for the company), Merck, Eli Lily, Google (slumping economy didn't make any difference for the internet ad revenue) all posted impressive results which helped the Dow increasing on those respective days.
Mars the chocolate maker successfully bid for Wrigley with some financial backing from Berkshire Hathaway's Warren Buffet. The Fed policy makers cut the rates again by a quarter point to boost the economy.
More later...
Lookout for Deutsche Telecom's bid for Sprint which if goes through I think becomes the largest telecom company in the country.
The Microsoft (MSFT) - Yahoo (YHOO) deal did raise many eyebrows but eventually it did not go through and Yahoo(YHOO) is facing the consequences. It fell by 15% yest.
Boeing (the 787 Dreamliner delays continue though), ExxonMobil (the profits has attracted attention from all the politicians while the gas rebate has become an issue), American Express (reassuring the state of consumer credit), AT&T (the Cingular acquisition and the Iphone were two crucial turning points for the company), Merck, Eli Lily, Google (slumping economy didn't make any difference for the internet ad revenue) all posted impressive results which helped the Dow increasing on those respective days.
Mars the chocolate maker successfully bid for Wrigley with some financial backing from Berkshire Hathaway's Warren Buffet. The Fed policy makers cut the rates again by a quarter point to boost the economy.
More later...
Lookout for Deutsche Telecom's bid for Sprint which if goes through I think becomes the largest telecom company in the country.
Sunday, April 6, 2008
Seven things to remember in bear run
The year 2008 has been unkind to investors so far. Many have suffered huge losses. Who knows, there could be more pain ahead. It’s worth reminding ourselves of basic lessons that every retail investor ought to keep in mind to avoid, or at least minimize, losses in one’s portfolio.
1. High rewards don’t come without taking high risk.
Remember, if you chase high returns, high risk will follow you.
2. Understand what you own — don’t always rely on the latest tip or prediction.
In today’s wired world, it is possible even for retail investors to understand, even if in basic ways, what is it that you are about to invest in — what does the company do, who its customers are, is the company profitable and so on.
3. Leverage is a double-edged sword that can destroy you in falling markets.
The recent collapse of various hedge funds and banks has shown that living on borrowed money can be dangerous.
4. Keep some of your powder dry — you don’t always need to be fully invested.
Keep some cash available to take advantage of falling prices. Professionals think of a correction in stock prices as a sale in stocks.
5. Build portfolio on a strong foundation.
Your stock portfolio also needs to be built on the back of strong companies and predictable stability. The more junk you have and poor quality stocks you own, the quicker your portfolio will also collapse during a correction.
6. Keep a wishlist of companies.
Smart investors keep a wishlist of companies whose shares they want to buy when the opportunity and price are right.
7. Invest for the long-term.
Serious investors put money to work for the long-term.You will also avoid the tax liability associated with short-term trading that can add more complexity to your finances.
Click here to read the entire article in Economic Times.
1. High rewards don’t come without taking high risk.
Remember, if you chase high returns, high risk will follow you.
2. Understand what you own — don’t always rely on the latest tip or prediction.
In today’s wired world, it is possible even for retail investors to understand, even if in basic ways, what is it that you are about to invest in — what does the company do, who its customers are, is the company profitable and so on.
3. Leverage is a double-edged sword that can destroy you in falling markets.
The recent collapse of various hedge funds and banks has shown that living on borrowed money can be dangerous.
4. Keep some of your powder dry — you don’t always need to be fully invested.
Keep some cash available to take advantage of falling prices. Professionals think of a correction in stock prices as a sale in stocks.
5. Build portfolio on a strong foundation.
Your stock portfolio also needs to be built on the back of strong companies and predictable stability. The more junk you have and poor quality stocks you own, the quicker your portfolio will also collapse during a correction.
6. Keep a wishlist of companies.
Smart investors keep a wishlist of companies whose shares they want to buy when the opportunity and price are right.
7. Invest for the long-term.
Serious investors put money to work for the long-term.You will also avoid the tax liability associated with short-term trading that can add more complexity to your finances.
Click here to read the entire article in Economic Times.
Saturday, April 5, 2008
India then and now: Kalam's Mantra
Some views from the great man Abdul Kalam:
The Vision
"I climbed and climbed
Where is the peak, my Lord?
I ploughed and ploughed,
Where is the knowledge treasure, my Lord?
I sailed and sailed,
Where is the island of peace, my Lord?
Almighty, bless my nation
With vision and sweat resulting into happiness."
"In 1991, we were in a precarious foreign exchange reserve condition. We had to pledge our gold to maintain the minimum balance required for our imports. Inflation was high. Land lines were few and mobile phones were a luxury. The people had to wait for telephone connections for months after booking. We had to wait in long queues for the railway reservation. We had very few automobile companies and there was a large waiting list for getting the allotment for a car or scooter. The export performance from software, pharma and other industries were negligible. This was the scene in 1991.
"Today, India is in an ascending economic trajectory, with continuously rising foreign exchange reserves, moderate rate of inflation, global recognition of our technological competence, energy of 540 million youth, umbilical connectivities of 23 million people of Indian origin in various parts of the planet. India as the largest democracy in the world has the reputation for providing leadership to one billion people with multi-cultural, multi-language and multi-religious backgrounds. India has become a trillion dollar economy."
Societal needs
Kalam visualised the following distinctive profile of India to emerge by the year 2020:
1. A nation where the rural and urban divide has reduced to a thin line.
2. A nation where there is an equitable distribution and adequate access to energy and quality water.
3. A nation where agriculture, industry and service sector work together in symphony.
4. A nation where education with value system is not denied to any meritorious candidates because of societal or economic discrimination.
5. A nation which is the best destination for the most talented scholars, scientists, and investors.
6. A nation where the best of health care is available to all.
7. A nation where the governance is responsive and transparent.
8. A nation where poverty has been totally eradicated, illiteracy removed and crimes against women and children are absent and none in the society feels alienated.
9. A nation that is prosperous, healthy, secure, peaceful and happy and continues with a sustainable growth path.
10. A nation that is one of the best places to live in and is proud of its leadership.
Integrated Action for developed India
"To achieve the distinctive profile of India, we have the mission of transforming India into a developed nation. We have identified five areas where India has a core competence for integrated action:
1. Agriculture and food processing
2. Reliable electric power, transport and infrastructure for all parts of the country.
3. Education and healthcare
4. Information and communication technology
5. Self reliance in critical technologies.
"These five areas are closely inter-related and if progressed in a coordinated way, will lead to food, economic and national security."
"Our story is still unfolding. The global environment, however, needs protection and India's freedom won by suffering and sacrifice has to be alertly guarded, strengthened and expanded. Freedom and independence must be our continuing quest, and in such a manner as to accelerate our evolution as a free nation through a bold and swift development."
"The time has now arrived for India to emerge with a new vision and leadership to make our nation not only enlightened, rich and prosperous, but above all, a safe nation, invulnerable forever to invasion and infiltration across its borders and bring unity of minds."
"Economic prosperity is possible only if we adopt and practice the value system in a society, which is derived out of our civilizational heritage. For all these actions, righteousness in the heart is very essential.
"Knowledge society will emerge only by the enlightened citizens of the nation. Our challenge today, is to bring the societal transformation with value system leading to a prosperous, happy and peaceful nation. It is the responsibility of the developed and developing nations to create peaceful neighbors with inclusive growth devoid of societal imbalance."
"Make it a reality by your attitude of give, give and give of the knowledge and experience you have gained over the years. This will be the singular contribution for which our motherland will be proud of you."
The Vision
"I climbed and climbed
Where is the peak, my Lord?
I ploughed and ploughed,
Where is the knowledge treasure, my Lord?
I sailed and sailed,
Where is the island of peace, my Lord?
Almighty, bless my nation
With vision and sweat resulting into happiness."
"In 1991, we were in a precarious foreign exchange reserve condition. We had to pledge our gold to maintain the minimum balance required for our imports. Inflation was high. Land lines were few and mobile phones were a luxury. The people had to wait for telephone connections for months after booking. We had to wait in long queues for the railway reservation. We had very few automobile companies and there was a large waiting list for getting the allotment for a car or scooter. The export performance from software, pharma and other industries were negligible. This was the scene in 1991.
"Today, India is in an ascending economic trajectory, with continuously rising foreign exchange reserves, moderate rate of inflation, global recognition of our technological competence, energy of 540 million youth, umbilical connectivities of 23 million people of Indian origin in various parts of the planet. India as the largest democracy in the world has the reputation for providing leadership to one billion people with multi-cultural, multi-language and multi-religious backgrounds. India has become a trillion dollar economy."
Societal needs
Kalam visualised the following distinctive profile of India to emerge by the year 2020:
1. A nation where the rural and urban divide has reduced to a thin line.
2. A nation where there is an equitable distribution and adequate access to energy and quality water.
3. A nation where agriculture, industry and service sector work together in symphony.
4. A nation where education with value system is not denied to any meritorious candidates because of societal or economic discrimination.
5. A nation which is the best destination for the most talented scholars, scientists, and investors.
6. A nation where the best of health care is available to all.
7. A nation where the governance is responsive and transparent.
8. A nation where poverty has been totally eradicated, illiteracy removed and crimes against women and children are absent and none in the society feels alienated.
9. A nation that is prosperous, healthy, secure, peaceful and happy and continues with a sustainable growth path.
10. A nation that is one of the best places to live in and is proud of its leadership.
Integrated Action for developed India
"To achieve the distinctive profile of India, we have the mission of transforming India into a developed nation. We have identified five areas where India has a core competence for integrated action:
1. Agriculture and food processing
2. Reliable electric power, transport and infrastructure for all parts of the country.
3. Education and healthcare
4. Information and communication technology
5. Self reliance in critical technologies.
"These five areas are closely inter-related and if progressed in a coordinated way, will lead to food, economic and national security."
"Our story is still unfolding. The global environment, however, needs protection and India's freedom won by suffering and sacrifice has to be alertly guarded, strengthened and expanded. Freedom and independence must be our continuing quest, and in such a manner as to accelerate our evolution as a free nation through a bold and swift development."
"The time has now arrived for India to emerge with a new vision and leadership to make our nation not only enlightened, rich and prosperous, but above all, a safe nation, invulnerable forever to invasion and infiltration across its borders and bring unity of minds."
"Economic prosperity is possible only if we adopt and practice the value system in a society, which is derived out of our civilizational heritage. For all these actions, righteousness in the heart is very essential.
"Knowledge society will emerge only by the enlightened citizens of the nation. Our challenge today, is to bring the societal transformation with value system leading to a prosperous, happy and peaceful nation. It is the responsibility of the developed and developing nations to create peaceful neighbors with inclusive growth devoid of societal imbalance."
"Make it a reality by your attitude of give, give and give of the knowledge and experience you have gained over the years. This will be the singular contribution for which our motherland will be proud of you."
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