My Internet Notebook

Saw an interesting press release in which former Smartner CEO (now at Seven) talked about Nokia will have Seven’s push email technology on every Nokia phone.

This could be just Seven’s marketing tactics but it does bring up questions on Nokia’s strategy on push email. As a device provider to carriers, Nokia has to entice individual software company to build software on its mobile platform at the same time it has to work within the constraints of mobile carriers. And the software providers also want to work (i.e. sign deals) with carriers. Jury is still out on which partnerships are going to get customers faster sooner.

In the push email space particularly, there are already a growing number of software providers such as Research in Motion, Good Technology, Seven, Microsoft etc. RIM seems the clear winner in the enterprise space but nobody seems to have a clear lead in the consumer space.

Courtesy of my favorite magzine: Business 2.

1. Learn to say, “I don’t know.” If used when appropriate, it will be often.
2. It is easier to get into something than it is to get out of it.
3. If you are not criticized, you may not be doing much.
4. Look for what is missing. Many know how to improve what’s there, but few can see what isn’t there.
5. Viewgraph rule: When something appears on a viewgraph (an overhead transparency), assume the world knows about it, and deal with it accordingly.
6. Work for a boss with whom you are comfortable telling it like it is. Remember that you can’t pick your relatives, but you can pick your boss.
7. Constantly review developments to make sure that the actual benefits are what they are supposed to be. Avoid Newton’s Law.
8. However menial and trivial your early assignments may appear, give them your best efforts.
9. Persistence or tenacity is the disposition to persevere in spite of difficulties, discouragement, or indifference. Don’t be known as a good starter but a poor finisher.
10. In completing a project, don’t wait for others; go after them, and make sure it gets done.
11. Confirm your instructions and the commitments of others in writing. Don’t assume it will get done!
12. Don’t be timid; speak up. Express yourself, and promote your ideas. Personal note to self: It is equally important to learn, learn, learn when to S-H-U-T U-P!!! Practice shows that those who speak the most knowingly and confidently often end up with the assignment to get it done.
13. Strive for brevity and clarity in oral and written reports. Personal note to self: I suck at it, especially when it comes to oral communications. See personal note to self in #14 above. Be extremely careful of the accuracy of your statements.
14. Don’t overlook the fact that you are working for a boss.
15. Keep him or her informed. Avoid surprises!
16. Whatever the boss wants takes top priority.
17. Promises, schedules, and estimates are important instruments in a well-ordered business. You must make promises. Don’t lean on the often-used phrase, “I can’t estimate it because it depends upon many uncertain factors.”
18. Never direct a complaint to the top. A serious offense is to “cc” a person’s boss.
19. When dealing with outsiders, remember that you represent the company. Be careful of your commitments.
20. Cultivate the habit of “boiling matters down” to the simplest terms. An elevator speech is the best way.
21. Don’t get excited in engineering emergencies. Keep your feet on the ground.
22. Cultivate the habit of making quick, clean-cut decisions.
23. When making decisions, the pros are much easier to deal with than the cons. Your boss wants to see the cons also.
24. Don’t ever lose your sense of humor.
25. Have fun at what you do. It will reflect in your work. No one likes a grump except another grump.

Note: Bill Swanson is CEO of Raytheon, a $20 billion defense contractor.

UPDATE: you can get a hard copy courtsey of Raytheon.

It’s interesting to read all the stories of this high profile take-over of Unocal from CNOOC. It is highly sensitive politically and its effects could be far-reaching financially. If you think about it: this deal is 10 times bigger than the Lenovo’s takeover of IBM PC business. US Congress is already objecting to the deal. Will the Bush administration block it? My bet is unlikely. BofA just spent $3 billion to buy 10% of Chinese government owned bank. Both sides have a lot to lose if US government intervene in business transactions.

Peoplesoft founder David Duffield is working on “building the next generation of enterprise applications to address a fundamental paradigm shift in how enterprise applications serve the extended enterprise”. Details on the new company’s products are still elusive. But a glance at one of their job posting could give us some hints:

Application Developer: Responsible for working with state-of-the-art definitional OO development tools to build the next generation of web-based business applications. Requires a familiarity with and/or a commitment to object-oriented applications design and business application development experience.

http://www.davesnextmove.com

A lot of venture capital firms has sprung up lately to focus exclusively on the greater China and Asia startups.

AsiaTech Nears Close on Fund V

The red-hot venture activity in Asia has lured yet another firm to the fund-raising trail. Taipei-based AsiaTech Ventures is near a first close on its fifth fund, VCJ has learned.

General Partner Peter Chu says that the firm is aiming to raise $100 million, but anticipates a first close of $30 million by the end of March.

U.S. and Asian-based firms raising Asian-centric funds are nothing new. For instance, Taipei-based Crystal Ventures – which also has offices in Cleveland and Palo Alto, Calif. – was expected to close earlier this year on the first commitment of its third fund, a $150 million vehicle that will focus on Asia.

And in October, Wellesley, Mass.-based Battery Ventures closed its seventh fund at $450 million, allocating up to 15%, or nearly $70 million, for international investments.

AsiaTech, too, sees the value of investing in its own backyard. The firm, which is one of the oldest venture firms in the Asia Pacific region, will focus nearly the entire new fund on China.

The focus represents a continued shift for AsiaTech, which over the last six years has stepped up its activity in Asia. Just five years ago, only about half of the firm’s assets were devoted to Asia, with the rest of the investments headed into the United States.

Chu says that practically all of Fund V will go into China-based startups. Chu also tells VCJ that one of the top 10 U.S.-based VC firms has formed a strategic alliance with AsiaTech, essentially becoming an LP in the new fund, to increase its presence in China and leverage off AsiaTech’s experience in Asia. He declined to name the firm.

But Chu says that despite the increase of buyout activity in China from The Carlyle Group and others, venture firms have yet to significantly expand in Asia. He says that the alliance with the U.S. firm is an example of how more and more venture firms will soon enter Asian markets in which they have limited past experience.

AsiaTech was founded by Hanson Cheah and James Yao in 1997, with money from family owned telecommunications, technology and manufacturing conglomerates in Taipei and Hong Kong. The firm’s inaugural fund of $20 million was raised during the height of the Internet boom, and about 80% of it was invested in the United States. Chu says that the first fund had a return of six times the investor’s investments.

Among the high profile investments in its first fund was Eachnet, which was purchased by EBay in 2003 for $225 million in cash. When the new fund is closed, AsiaTech will manage about $300 million in assets.

– by Jerry Borrell from VCJ (VC journal – http://www.venturecapitaljournal.net/)

Crystal Ventures

It was expected to close late last month on the first commitment of its third fund, a $150 million Asian-centric fund.

Crystal also is looking to add to its team of six current general partners to replace Henry Wong and Howard Lee, who previously left to form Diamond TechVentures. The pair is raising a $50 million fund to invest in China.

Crystal Ventures co-founder Joseph Tzeng says that the departures of Wong and Lee were part of the evolution of the firm as it has transitioned over the last several months to concentrate more on investing in wireless, Internet and traditional media sectors and less on hardware and software IT deals. “Henry and Howard remain friends and we will support them in their [new firm],” says Tzeng, who, along with Crystal co-founder Daniel Kellogg, will sit on Diamond’s board.

Tzeng says that a media report that a third Crystal partner, John Hsin, is also leaving, is erroneous. However, Crystal has shut down its Singapore operations as it concentrates more on China. Hsin, who led the firm’s Singapore office, is currently opening a new office in Shanghai.

In addition to its new Shanghai office, the firm will open a new office in Beijing this year. Tzeng says that the firm has an interest in Korea and Southeast Asia.

Together with Crystal Ventures Fund I ($40 million) and Crystal Ventures Fund II ($160 million), the firm will manage assets of $350 million. LPs have included GIC SI, EDB of Singapore and TIF Ventures. Like the first two funds, the fund III will be Asian centric, investing in startups in the Pan-China region. Since its 1997 inception, Crystal Ventures has had offices in Cleveland, Palo Alto, Calif., Taipei, Singapore and Hong Kong. The first two funds focused mostly on Internet infrastructure-related startups, hardware and software and even some semiconductor companies.

Peter Liu, chairman of San Francisco based VC firm, W.I. Harper Group has a lot of dealings in China.