A morning breakfast with a Chicago start-up resulted in me going back to the Crain's Chicago Business article I recently read. The term, 'technology transfer tax' seemed to stay in my head these last weeks and I set out to understand they 'why' behind the university + start-up mix.
Marc Andreesen, one of the brains behind Mosaic, which was developed at the University of Illinois, said this in an older PC World interview:
"We took Mosaic as far as we could in a research environment. [There,] we could do new things without worrying about return-on-investment requirements. But you couldn't hire support people for the users. The National Science Foundation doesn't pay for technical support people. So we decided to start Netscape around this idea."
Marc went on to create Netscape and has since contributed millions to Stanford, including $27.5 million to Stanford Hospital.
Continue reading "Understanding Why Marc Andreesen Left Illinois" »
A NYC startup, TableXchange, just blew into Chicago and obviously didn't do their research about the Chicago way of doing things straight up. I suppose they didn't learn from Donald Trump's real estate woes. Remember the lessons we were taught about new markets, cultures, etc.? This way of thinking applies to all business, in my opinion. Whatever happened to talking to your potential customer and merchant base first?
The Windy City Wine Guy just sent me a recent article that ran in the Chicago Tribune this week. Let me get this straight. I want to eat at the latest and hottest restaurant in town. I go online and pay $20-$40 to buy someone else's reservation. This person may have up to four reservations at a time..which means they can sell four reservations at one time. In addition to this, I am NOT obligated to call the restaurant and tell them that I decided to CANCEL my reservation if I end up not SELLING it (per TableXchange's site, the person buying the reservation is only' 'asked' to cancel). Ahem.
Continue reading "Controversial TableXchange Comes to Chicago
Bidding on Restaurant Reservations? " »