TechCrunch Article on ybuy

Found at: http://techcrunch.com/2012/01/17/try-before-you-buy-gadget-site-ybuy-launches-with-750k-in-funding/

Good news, gadget hounds! The new “try before you buy” subscription service called YBUY is exiting its public beta, backed by $750,000 in seed funding. The concept is simple, and should have major appeal for the gadget-obsessed: for just $24.95 per month, you can test drive the latest electronics, home and kitchen gadgets for 30 days before deciding to purchase or return the items.

At launch, the site is serving up highly sought-after gadgets like the iPad 2, Dyson heaters, Jawbone headsets, iRobot Roombas and more.

The gadgets are shipped to customers for free, and the package also includes a return label for free shipping on the way back to YBUY if you decide you’re not interested in purchasing. However, if find that you can’t bear to part with your shiny new iPad 2 (as is the exception, of course), you can proceed to purchase the item minus the $24.95 you already paid.

The company says it will also discount items under regular retail prices to make buying throughYBUY more compelling. This isn’t always the case, though. For example, YBUY lists the iPad 2 for $499.99 and the Jawbone Jambox for $199.99 – those are the going rates. Explains CEO Stephen Svajian, “for manufacturers, we provide an easy-to-use sales channel that allows them to offer refurbished products to consumers without the added cost of marketing and sales.” In other words, not all the gadgets are the cheaper (but manufacturer-certified) refurbs.

The Manhattan Beach, Ca.-based startup was founded by serial entrepreneur Stephen Svajian andKevin Wall, a Managing Partner at Craton Equity Partners and CEO of Live Earth, among other things. The company’s $750,000 in seed funding comes from the founders themselves and other angels.

Graham crawling and cruising

Great video that Courtney took of Graham crawling up to the couch:

Great picture of Trump

Boston Bike-Share

I've been working on bike share in Manhattan Beach for some time. Now it appears my hometown, Boston, is preparing a bike-share system for the summer. This will be great for the city. Read more.

The company that I co-founded is called Baiku. Baiku was recently granted the rights to operate a bike share system in Manhattan Beach, California along the world famous “Strand” boardwalk and plans to rollout a pilot station in 2011 and then expand with additional stations in Manhattan Beach and neighboring cities.

There are a few important trends that are creating a unique opportunity to capitalize on a private, for-profit, bike share system in partnership with municipalities: (1) People and city governments are increasingly open to carbon-neutral forms of transportation; (2) Third-generation bike share systems, which have emerged within the last 5-10 years, enable automated bike sharing; (3) Municipalities do not have money to invest in bike share programs; and (4) Biking infrastructure is cheap and is being implemented in cities nationwide. The following provides a little background on bike-sharing, but to learn more about bike-sharing, click here. 

What is Bike Sharing?

Bike-share bicycles are intended for short-term use and are accessible via automated check-out systems. An important benefit of bike-share systems is the flexibility to return rented bicycles to any station within the system, thereby encouraging use for one-way travel.

A Little History

Since inception of the first system in Amsterdam in the mid-1960s, bike-share has grown and adapted. Originally comprised of painted, free-to-use bicycles, early systems quickly succumbed to theft and vandalism. This shortcoming was later addressed through the introduction of coin-operated locking mechanisms, not unlike those of airport luggage carts. However, anonymity of system users and the minimal investment on their part could not overcome the continued occurrence of theft and vandalism.  

Technological advancements in the mid-to-late-90s paved the way for the modern bike-share system, also known as “third generation” programs. These consist of bicycle parking stations with kiosks that leverage electric card-reading technology. Whether using a credit card or a membership smartcard, new systems can attribute bicycle rentals to individual users, creating the ability to enforce liability for damaged or stolen equipment. The advent of third generation bike-share programs has led to increasing popularity and widespread implementation. As of 2010, there are approximately 160 bike-share systems throughout the world.

Third Generation Bike Sharing Systems

There are certain elements that all modern, third generation, bike share programs have in common:

•  Automated process for rental and return. Bike share programs operate with minimal personnel. Bikes are typically locked in a docking station and are only unlocked when a customer pays for access.

•  Easy and fast access. Registration is possible within minutes, and customers can use bikes in a matter of seconds as a result of innovative technology.

•  Fixed stations. Customers rent from and return the bikes to easy-to-locate fixed stations.

•  One-way capability. Because bike share programs have multiple stations, they allow for one-way trips. This enables a customer to use the bike for commuting and to pay only for the time they are actually using the bike. 

•  Customer registration using deposits. Customers register once for security reasons and generally pay a deposit by credit or debit card. 

•  Pay-per-use or subscription. Customers usually purchase base subscriptions for terms lasting a day, week, month or year. Tourists are typically charged hourly for the use.

Parts of a Third Generation Bike Share System

• The bike dock and locking system. Bike docks, powered by solar energy, serve to house and lock bikes. Made from recyclable, non-oxidizing aluminum, these modular docking stations are formed by a combination of groups of four docks, which are modular themselves. Maintenance and repair of the system is simplified thanks to a removable module present in every docking station, which contains the locking system, and all critical components that allow the system to function.
• Pay station. Pay stations are touch screen-operated and accept credit and debit cards. Eventually, users will be able to rent a bike using a subscriber key obtained through a long-term online subscription or an access code provided by the pay station. Upon renting or returning the bicycle, a user may receive a text message to their mobile phone confirming the transaction.
• The bikes. Bikes are customized for the bike share program. The locking mechanism is built into the frame of the bike. In addition, the one-piece aluminum frame and handlebars serve to conceal brake cables in an effort to protect them from vandalism and inclement weather.  

Who Uses Bike Sharing and Why?

Highlights from the Nice Ride Minnesota Bike Share survey*:

• 80% of bike share users own a bike

• Most people use bike share because it’s convenient

• Most people who bike share own automobiles

• Almost 70% of bike share trips are for the purpose of getting around town or commuting

*Between 600 and 700 respondents

People use bike sharing because it is convenient. A study from Washington, D.C.’s Smart Bike program reported that 80% of bike share users, stated that the “convenience factor” was the most important reason why they used bike sharing. When traveling, people would rather use a bike share bike than their own bike. Bike sharing doesn’t require you to bring a lock and you don’t need to worry about the bike when you arrive at your destination. You simply leave the bike at a kiosk and go.  

• Getting around town. People enjoy the ease of picking up a bicycle without having the need to store the bicycle, lock it up while eating and shopping, or maintaining the bicycle. According to the Nice Ride Minnesota Survey, some 37% of survey respondents reported that they use bike sharing to get around town.

• Commuters. Commuters use bike share because they enjoy the health benefits of commuting to work via bicycle and some are interested in carbon neutral transportation. Commuting via bike share gives commuters a choice to bike home, use car share, walk, or take the transit.

• Recreation. People use bike share because it’s enjoyable. Many tourists are taking advantage of bike share in cities around the country. Biking represents an ideal way to tour a location, because it is faster than walking and one can more intimately explore an area than by car.

World's youngest iPad lover

Graham

I sent the following email to friends and family yesterday:

Dear Friends & Family,

Courtney gave birth to Graham at 4:52AM. He is 7 pounds & 8 ounces, 21 inches long, and has a barrel chest. Mom and Graham look healthy and we are over the moon happy. Thanks for your support and prayers.

-Steve and Courtney

Here's the picture that I included in the email:

Dogs for everyone?

New research shows that, in addition to being man’s best friend, dogs improve productivity in the office. Christopher Hontsand coauthors gave 12 groups of four people a task to complete; some groups had a dog hanging around while they worked, while others didn’t: “After the task, all the volunteers had to answer a questionnaire on how they felt about working with the other—human—members of the team. Mr. Honts found that those who had had a dog to slobber and pounce on them ranked their team-mates more highly on measures of trust, team cohesion and intimacy than those who had not.” Honts also asked 13 groups of people to play a version of the prisoner’s dilemma game and found that “[h]aving a dog around made volunteers 30% less likely to snitch than those who played without one.” Perhaps Congress should invest in some canine companions?

Queue Next Generation

My nephews were born last week. They were born a few month early, but everyone is healthy. Please keep them in your prayers.

Suing NBC Universal

NBC Universal Sued for Breach of Contract in Women.com and Women.net Domain Name Sale

NBC Universal Chief Jeff Zucker refuses to part with domain names after company reaches a deal

Manhattan Beach, California - June 4, 2010 — Internet marketer and publisher DONE! Ventures, LLC has filed a lawsuit against NBC Universal, Inc. The complaint, filed in Los Angeles Superior Court on Thursday, June 3, states that NBC Universal accepted an offer to sell the domain names Women.com and Women.net for $1,000,000, and is breaching the agreement by refusing to complete the transaction.

According to the complaint, NBC Universal signed an exclusive agreement with domain brokerage firm Sedo.com, LLC, of Cambridge, MA. DONE!’s offer from May 21 was accepted by NBC on May 24. Three days after the agreement was reached, Sedo informed DONE! that NBC Universal President & CEO Jeff Zucker overruled the transaction and the domains were no longer for sale.

In the complaint, DONE! asks the Court to enforce “specific performance” in the million-dollar transaction, requiring NBC Universal to transfer ownership of the domains.

DONE! Ventures CEO Benjamin L. Padnos said, “Women.com is irreplaceable to us. We are building a powerful content network and the Women.com domain is critical to our strategy. Our audience and the community we are building consists of modern, powerful, intelligent women. The name Women.com will resonate within this target market unlike any other name.”

Stephen Svajian, who, along with Patricio Barrera, is representing DONE! said, “The facts in this case are very clear. DONE! made an offer and NBC Universal accepted. My client is ready, willing, and able to complete the transaction, and simply wants NBC to hold up its end of the bargain. They have a deal.”

“All I want is for NBC Universal to do what is right,” Padnos added.

Founded in 2001 by Internet entrepreneur Benjamin Padnos, DONE! Ventures, LLC is an Internet marketing and publishing firm based in Manhattan Beach, CA.

## #

Some interesting coverage here:

http://www.geekosystem.com/nbc-universal-sued-done-ventures-women-domain/

http://techcrunch.com/2010/06/04/nbc-done-lawsuit/

http://paidcontent.org/article/419-nbcu-sued-over-aborted-domain-name-sale/

Return of the half-shirt

I’ve waited about 25 years for this - the return of the half-shirt. American Apparel is trying to bring back the style. I think I had this exact shirt and mustache when I was 10. I also had a few that were mesh football practice jerseys. Does anyone else smell an opportunity? 

Here are the specs from American Apparel:

TR480
Tri-Blend
Short Sleeve Scrimmage Shirt

Rating:

Reviews (45)

This football-inspired version of our Tri-Blend Short Sleeve Track Shirt is cropped, cool and perfect for summer.

Tri-Blend (50% Polyester / 25% Cotton / 25% Rayon) construction

Polyester retains shape and elasticity; Cotton lends both comfort and durability; addition of Rayon makes for a unique texture and drapes against the body for a slimming look

Approximately 17" (43.2cm) in total length

Durable rib neckband

O/S = Small

Coming Soon:

Consistently, both Chinese people and Americans in China are telling us that the Chinese love Warren Buffett and basketball. This is illustrative of two important trends in China - (1) the cultural Westernization of Chinese people; and (2) Chinese people’s fascination and exuberance about money.

The Chinese’ love for Warren Buffett seems to represent the capitalist era ushered in by Deng Xiaoping’s advocacy for Chinese free markets, which led to China’s economic growth in the 1990s. Chinese people are telling us that since that time there has been a shift in values from community to a thirst and love affair with money and power. 

China’s embrace of a market-based economy, net-net, has been good. The past twenty to thirty years have seen more people rise out of poverty than at any other time in the history of our planet. However, it has also provided China with some challenges such as a large disparity in wealth between the rich and the poor, uncertainty in employment, and a somewhat misguided approach in balancing life and work. For example, a recent survey showed that when asked whether they would rather lose their business or their family, 60% of Chinese said they would rather lose their family and 20% were undecided.

While Yao Ming is partially responsible for China’s new-found passion for basketball, it’s symbolic of a larger trend. Chinese people love American culture. They watch all our TV shows, they love Lady Ga Ga and Rhianna, and they all want to drive cars like Americans. 

Whether they can afford it or not, they love brands associated with America. For example, Chinese students will bring Starbucks’ coffee cups home with them and fill them up with coffee. They do this to impress their peers who they want to trick into making them think they went to Starbucks and paid a premium for the American branded coffee.

As an outsider, visiting China, it has been interesting to see that while progress is being made here on many fronts, the Chinese still face many challenges.

The Chinese ag space is an interesting long-term play. There are a few very clear demand drivers: (1) the urbanization of the growing population; (2) a burgeoning industrial middle class population; and (3) changing dietary patterns that accompany an increase in disposable income.

The government will help Chinese companies in this space. There are strong barriers provided by the Chinese government (legislation, tariffs, quotas, direct and indirect subsidies), which will help keep Chinese ag domestic. Further, the Land Reform Act - a step towards land ownership in China - will encourage the implementation of large scale ag production.

Here are some companies I am following in this space:

1. China Green Agriculture (CGA)

2. China Marine Food Group (CMFO)

3. China Nutrifruit Group (CNGL)

4. Origin Agritech Limited (SEED)

5. Skystar Bio-Pharmaceutical Company (SKBI)

 

The Great Wall

Saturday, we climbed the Great Wall of China. We saw thousands of people, but only saw a couple of non-Chinese. Several Chinese people wanted to be in photos with us.

Silk Market Economics

Friday, we went to the Silk Market. We spent some time haggling with Chinese girls over the prices of brands. It’s a great experience that teaches two things about Chinese businesses: (1) they don’t differentiate over anything but cost; and (2) they are willing to sit on tons of inventory.

MySpace China

Thursday we met up with the CEO of MySpace, China. Social games are big in China, but it’s tough to build anything that will make it really big here. 

Our takeaway is that it’s very difficult for internet companies to do well in China. An understanding of local users is paramount and what works in the U.S. doesn’t necessarily work in China.