To: WebDrone who wrote (12763 ) 5/14/1998 9:04:00 PM From: WebDrone Respond to of 213177
What Guy Kawasaki is up to- I culled this from WSJ- cut a bit out... Why keep leaving them by the curb when you can just view on line? I like it! <Apple Veteran Tries to Match Entrepreneurs With Investors May 14, 1998 By LISA BRANSTEN THE WALL STREET JOURNAL INTERACTIVE EDITION PALO ALTO, Calif. -- In Silicon Valley's creation myth, some scrappy guys with a great idea start a company in a garage. Add money from a few wise investors, and presto -- the next Apple Computer Inc. Now one of Apple's legendary figures, Guy Kawasaki, is trying to use the Internet to turn that formula into a business. Mr. Kawasaki, who worked with hundreds of entrepreneurs as Apple's software evangelist, has started a company called garage.com to help match cash-hungry entrepreneurs with potential investors. "I am fundamentally a populist, and it just irks me that there are these closed clubs of investing and finance," says Mr. Kawasaki, 43 years old. "What we want to do is open them up a bit." Mr. Kawasaki retains a loose connection with Apple, but he is focusing on garage.com and has no plans to return full-time to Apple. Electronic Matchmaking <...> Garage.com has set up a Web site (http://garage.com/) and plans two main sections: "Heaven," where potential investors congregate and pay from $7,000 to $10,000 for a chance to examine entrepreneurs' vetted business plans, and the "Garage," where entrepreneurs can go for specialized tips and advice. Garage.com plans to make most of its money by taking equity stakes in companies that get funded through the service, but also will accept advertising. The Heaven and Garage sections won't go live until this fall, because garage.com must wait for a broker-dealer status from the U.S. Securities and Exchange Commission. But some public parts of the site, offering news and hints for entrepreneurs, was switched on Wednesday. The company has already received $1.7 million from Silicon Valley Bancshares, the holding company for Silicon Valley Bank; venture capital firm Advanced Technology Ventures; and a smattering of angels. A Possible Test Case A Santa Cruz, Calif., startup called Reality Fusion Inc. could be a test case. The company has developed an unusual technology that lets people move their hands and bodies to control objects on a personal-computer screen, using a video camera that tracks their movements. For example, a PC user can play volleyball against an on-screen opponent, by waving his arm in the air to whack the ball, rather than using a keyboard or mouse. Though Reality Fusion sees myriad uses for the technology in games, corporate presentations or Web-TV viewing, it has struggled to find the few million dollars needed to take it to the next level. "We've been having conversations with venture capitalists and there's a certain level of interest that's universally expressed, but nobody's jumping on the opportunity at the moment," says Barry Spencer, its founder and chief technical officer. There are many more like Mr. Spencer. Hans Severiens, coordinator of the Band of Angels, a prominent group of angel investors, says he gets at least two pitches a day from entrepreneurs hoping to present to his group. "At any instance in time there's probably at least a thousand [entrepreneurs] in the Bay Area there with their hands out," he says. <...> Garage.com has a staff of eight people and expects also to use an advisory board to screen ventures before they are let into Heaven. Early members include Heidi Roizen, former head of developer relations at Apple; Ron Conway, an entrepreneur and member of the Band of Angels; and George Gilder, an author of several books on technology. Other assistance is expected from investment bank Deutsche Morgan Grenfell Technology Group, accounting firm Coopers & Lybrand LLP, Silicon Valley Bank and Advanced Technology Ventures. Mr. Kawasaki's co-founders are Craig Johnson, founder of a law firm called Venture Law Group that works with startups, and Rich Karlgaard, editor of the technology publication Forbes ASAP. Mr. Kawasaki is confident that the people involved with garage.com will be respected enough to attract 200 to 300 angels. "There is no technology barrier to prevent someone else from doing this," he says. "It's all a relationship barrier.">