I am sure Dean never thought he would see Segway mostly being a manufacturing shop for scooters.
Funny how Segway was introduced to Ninebot:
In 2014, Segway convinced the US International Trade Commission to investigate infringements of Segway’s patents for its self-balancing technology. One of the companies listed in Segway’s complaint was Ninebot, which quickly offered to buy the company.
Segway history: The rise and fall — and rise again — of the scooter company – CNN:
Brown bought the company from the estate of Jimi Heselden, a British entrepreneur who died after riding his Segway off a cliff. Segway was barely getting by on the meager revenue it brought in selling the PT to tour companies, security companies and police departments. But Brown saw a global brand with a powerful distribution channel. Six million tourists rode Segways on tours of cities like San Francisco and Washington, DC each year. He planned to buy other transportation companies focused on short trips, like e-bike startups. All he had to do to make Segway profitable, he figured, was run the place well.
Brown brought on new employees to change Segway’s uptight culture. He led an effort to trim costs by reengineering a circuit board, ditching the PT’s expensive gyroscope in favor of a cheaper solution, and negotiating a better battery contract. It worked. Segway turned a profit within a year of Brown’s arrival. He sold the company to the Chinese firm Ninebot on April 1, 2015 for more than $75 million.
Love this story. Hat tip to https://darimulut.substack.com/p/longs-hard-work-in-manila-and-a-mystery
Good to see someone call out where the name actually comes from as well!
Born in America, Sriracha sauce tries its luck in Vietnam – Los Angeles Times:
He made his first sauces by hand in a bucket. Tran called one Sriracha, a version of the Si Racha chili sauce that traces back to a coastal town in Thailand. His had a deep red hue, a thick river of garlic, distilled vinegar and jalapeno peppers poured into a plastic bottle with a green top and a rooster logo. The rest is history.
Still want to see what IBM does with and to Red Hat.
Red Hat’s Acquisition – A Triumph of Open Source • Tomasz Tunguz
“This is a huge day. It absolutely resets the cloud landscape.” That’s what IBM CEO Ginni Rometty told me on Sunday, shortly after announcing her blockbuster $34 billion deal to acquire open-source software provider Red Hat, which will likely define her legacy at the 107-year-old computer company. “We will be the number one hybrid cloud provider.”
I asked what she could do as Red Hat’s owner that she couldn’t have done as its long-time partner. Her answer: “This will accelerate the customer journey to the cloud.” Big companies have only moved about 20% of their work to the cloud, she said. “They have done the easy work, the cost-oriented work.” Working together, IBM and Red Hat can attack the remaining 80%, allowing companies to create integrated solutions from the cacophony they now face. “A typical client has at least 1,000 applications, uses multiple clouds, faces vendor lock in,” she said. Together, IBM and Red Hat can provide end-to-end solutions that allow clients “to do some on premises, some in the public and private cloud, unifying multiple clouds, applications and vendors.”
These tweets – ouch:
I am not sure the plans for how they will or will not integrate this – maybe best to leave it alone?
But this is so smart of IBM who is currently and risk of shrinking into a nobody again.
The whole Watson play just isn’t working and slowly but surely they will lose the high end of computing power.
Maybe this is the 3rd life for them yet?
IBM to acquire cloud computing firm Red Hat for – CNN
You probably have not heard of Olasso yet. You will soon.
I love how they came up with the name:
When asked about where the name Olasso came from, Seb chuckles. “That would be me,” he laughs. “I’m a big fan of Western films and I was watching Sergio Leone’s The Good, The Bad and The Ugly on a Sunday night while we were still trying to decide on the name. The previous project names we’d been testing never sat easy with me from a marketing perspective – they just weren’t going to work. As I watched Clint Eastwood riding through the Wild West with his trusty lasso hanging freely from his harness, the dots suddenly aligned and I began to draw analogies between logistics and a lasso – a lasso is used to catch and retrieve things, similar to the role of logistics in returning a product. I then experimented with adding an ‘o’ to the beginning as it gave the name visual balance, personality, and added an additional syllable which sounded more pleasant. I jumped on to check the domain name and Olasso was free.”
Redefining Intelligent Logistics in Asia | Hive Life:
Instead, Olasso operates with the understanding that cultivating trust with customers is crucial, offering both convenience and simplicity on a global scale. Pieter elaborates, “There’s still an underinvestment in the post purchase experience and it’s about building a long term relationship with your key customer base. That doesn’t happen overnight.” Having started in March 2018, the company hopes to fill a real gap in the logistics market for global retailers. The three had originally bonded over work at Grana, an online fashion company in Hong Kong, but eventually sought to approach the e-commerce industry from a different angle: “We had accomplished a lot with the systems and solutions with Grana already and saw so many problems we just wanted to be solving, coming from more technical and operational backgrounds.” Pieter continues, “For us, it was really exciting to work on that and find a solution.”
Added a page for the Code of Conduct :: https://seedvc.blog/code-of-conduct-sea-style/
I have written before around the whole Karma thing, being nice – understanding your actions will have results. I took a stab at it once here with some links:
Increasingly in the local ecosystem I find these occurrences where people essentially talk down about others or basically step on someone to get ahead. I guess for some folks they feel taller of sorts by standing on someone else in order to get a better view.
Its easy to do this. If I find myself doing it – I try to catch my words or an action before it is too late it but I would have to be honest enough to admit I slip up more than I would like.
It’s not pretty.
I believe the world works better by being nice, even helpful. We are so accustomed to the dopamine hit of a quick payoff that many times we forgot that the benefits of being nice or helpful may take a long time to have a result but honestly you should feel good during the whole being nice action.
The beauty is in the doing – not the payoff but the payoffs will come.
I like this tweet:
Even outside of startup / venture land it works but it is even more crucial in startup / venture land than most people realize.
I was listening to Scooter Braun the other day on a podcast and he has an interesting practice for his close friends. If they are not doing as well as he is then he buys the yearly vacation. I don’t have that kind of dosh but I get the principle. It forces him to try and help his friends also be successful so that he isn’t always footing the bill. I am sure the money is nothing given his wealth but I like the mantra.
Hopefully we can figure this out in our local startup / land. Paying it forward is a good thing and you don’t have to be an ass to get ahead of the next person. All boats can rise.
Just be nice.
PS. We have a telegram group for our startup / venture land where we try to chat and be helpful.