No Banjo, you can't choose my friends.

A contact introduced me to Banjo the other day and I downloaded the app ASAP.  The UI and features look great and I'm already over the stalker/sketchiness factor of being able to see everyone checked-in around me whether they are using Foursquare, Quipster (My new favorite Twitter friend...even if they don't have a Droid app), Gowalla, Loopt, Google Latitude, Facebook Places, etc.  What I can't get over is the permissions I have to grant Banjo in order to link my Twitter account and fully utilize the app:

1. read tweets from your timeline...Standard
2. see who you follow, and follow new people...ok
3. update your profile...WTF?
4. post tweets for you...Standard

I don't always read the permissions when I download a new app but 2 and 3 stuck out as unusual compared to my other apps.  Why does Banjo need to follow new people but even stranger update my profile?  If the reason is to allow user edits through their interface than it should be explained in some form of privacy document or warning.  Am I paranoid in assuming that Banjo could start manipulating my account or is this a poor example of user education/outreach?  My guess is most people don't read the permissions and hopefully we can trust developers to enhance our social lives rather than hijack our social graphs.

Summary of The Business of Big Data Workshop

I just attended The Business of Big Data workshop which was organized by General Assembly in the Flatiron district of Manhattan.  * GA told me not to attend because the event had sold out but luckily they let it slide when I showed up at the beginning of the presentation (how could they turn away another $20?).  The presentation was by Ben Siscovick and Andrew Cove of IA Ventures which is a dedicated Big Data venture fund located in NYC.  Here is a summary of my notes from the event which was interrupted three times by a faulty smoke alarm:

Twiter Valuation Model re Marissa Campise's Blog Entry: "More Thoughts on Market Sizing"

This post was inspired by a comment on Marissa Campise's blog as it is my crude attempt at a valuation of Twitter given her projections of the revenue potential upon reaching full scale.  Unfortunately, it delayed (and shortened) my previous post on Google+ (expect comments on design flaws next week...need time to use the merchandise) but hopefully it will result in two posts this week.  Also, it could have been completed on Saturday but I haven't been able to find a reliable spreadsheet app which will allow editing formulas (any suggestions would be greatly appreciated) so I had to wait until boarding a NYC bound train in Rutland, VT before booting-up my pre-college D610 laptop.  Therefore this is almost my first entirely mobile blog entry as I used the Blogger and Google Docs apps on my Droid X (full disclosure: I'm a big Google fan if I ever write a Microsoft or Apple blog) for most of the work.  W/O further ado here is a link to my model and below is my assumptions/comments:

***Link to come as soon as I can get my computer on WIFI.  Google docs app failed me again.
Here is the link: http://bre.ad/04qao8

Google Plus...what?

Last week I found myself on the outside looking in at the Google+ frenzy that was their short lived beta test.  Now that I'm in (with everyone else)...I can understand the criticisms Google received for their failure to answer (ask) the right question.  I almost didn't write this blog because Semil Shah covered most of the points to be made about the addition of a new social network but it would be remiss not to include my commentary.

Where Google+ falls short is in its lack of integration with the existing social networks.  Taking their tools and blending them into a new network isn't enough of a value proposition for Google to kill Facebook.  What the ecosystem needs is an application or platform that makes sharing and consuming information across platforms more intuitive.  Google should have created a tool to make sense of the endless stream ("firehouse") of Comments, Likes, Tweets, Retweets, Shares, and now + 1s rather than creating another stream of information in a silo.  Until I can broadcast out of Google +, I'll continue loading Facebook, Twitter, Linkedin, and now Google+ whenever I launch Chrome.

Turntable.fm Design Flaws, Recommendations, and Business Model?

For those who haven't used the new online music player Turntable.fm...you're missing out!  Turntable.fm is Pandora meets throwback chat room meets DJ Hero game mechanics.  The platform allows music listeners to join themed "rooms" in order to "play music together," as five DJs take turns selecting songs that the listeners vote and comment on.  DJs collect points based on the quality of the songs as voted by the listeners and songs are skipped if too many people vote "Lame."  This is the ultimate blend of social and music as First Round Capital Principal, Charlie O'Donnell, put it, "Some services just tell you what your friends are listening to--the digital data exhaust of an inherently unsocial experience.  You listen to music on your own, and your data is broadcasted to your graph."  Turntable.fm is a tremendous tool for discovering new music while "socializing" with users who share a similar taste in music.  The site launched in late May and is still in Beta but there are some potential UI/UX changes that could be made to improve the user experience with this exciting app:

Sorry for the Neglect

Its finally time to start blogging again now that I'm back from the wedding/honeymoon and our post wedding errands are complete.  The extended break from my computer and phone was a refreshing opportunity to lift my head up from what had been two solid months of reading the Mashable, Techcrunch, and Term Sheet dailies which helped fill my inbox to the tune of 650 unread emails (I think I've finally sifted through and responded to the important ones, sorry for the delay).  Time to kick the job search into overdrive while commenting on the companies that have been making news lately.

The most significant tech news from two weeks ago was Groupon's IPO announcement which obviously drew coverage from the WSJ, Economist, and the like of the impending tech bubble.  This was a tremendous birthday present for someone that doubts the staying power of Groupon's business model and who has been preparing a a lengthier blog about the economics of Deal Sites.  This task should be much easier now that Groupon has filed with the SEC and opened the Pandora box that was their operating information.  

That brings me to this weeks news which will clearly be Pandora's first day of trading on the NYSE (full dislcousre: I'm listening to Pandora while posting).  The stock rose as high as $26 in early morning trading but spent the rest of the day returning to earth at a close of $17.42.  This is a gain of 8.88% for those who bought at the list price but far below the $20 price that many institutional investors paid when the markets opened.  Perhaps All Things D was a little premature in declaring that "Pandora has pulled a LinkedIn," which experienced opening day gains of 109% back in May.  If LinkedIn's performance to date (Down 39.2% from its high of $122.7) is any indication of Pandora's performance in the coming weeks then I'll be considering a short sale as it will likely be in the pink slips come July.

Disclosure - I currently do not have any positions in LNKD or P.

Facebook Deals Challenges Groupon et al.

A few weeks ago, the NY Times and Tech Crunch leaked that Facebook was ready to launch their latest product in the US, Facebook Deals.  Deals is simply another competitor for Groupon and their cohort of web startups which offer time sensitive deals at steep discounts for restaurants, golf courses, movies, etc.  Facebook’s decision to compete with Groupon is an extension of their advertising based business model which will pay tremendous dividends for a company looking to grow revenue in anticipation of an IPO early next year.  What makes this announcement interesting (threatening to Groupon) is the fact that Facebook Deals will not charge retailers a cut for using their platform.  That poses a tremendous threat to Groupon’s business model which charges each retailer approximately 50% of the deals price.  Facebook has made the fastest jump possible in the race to the bottom of the group buying margin which will curb the astronomical growth that Groupon has experienced over the past four years.  

Facebook can offer their deals for free because the purchasing data is more valuable to their business model than the potential revenue.  Knowing what people buy in addition to what they Like will make their advertising pitch that much more attractive and should lead to a much larger share of the coveted online display advertising market.  

I'm planning a lengthier post about the Economics of Groupon and why I think it will be another blip of the consumer web industry.