tag:blogger.com,1999:blog-47447627350480257782024-03-12T17:28:26.992-07:00Bob Brisco's BlogI write to think...now thinking about product development, design, technology, leadership, economics and learning.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.comBlogger59125tag:blogger.com,1999:blog-4744762735048025778.post-28074963689345753362016-06-21T11:33:00.000-07:002016-06-21T11:33:33.034-07:00Welcome Aboard: Fodor's!<div class="separator" style="clear: both; text-align: center;">
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I love travel secrets....insider knowledge, local flavor, underground places, and so forth.<br />
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At IB, we own a few killer travel brands, such as <a href="http://www.flyertalk.com/">FlyerTalk</a> and <a href="http://www.wikitravel.org/">Wikitravel</a>. And now we're simply delighted to add Fodor's to our family.<br />
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A WWII hero and renaissance man, <a href="http://www.fodors.com/about-us/timeline">Eugene Fodor</a> began his guide book dynasty 80 years ago working on French Cruise Ships. Today, Fodor's l00+ travel books and a massive website join our portfolio-- and we proudly welcome Fodor's employees, writers, and readers to our family. You're a huge group of travel enthusiasts and we look forward to the journey with you!<br />
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We thank PRH for its long-time stewardship of the brands and beginning the long trek to an even more digital-centric future for the business. Yes, we will continue to print the books-- just like at Nolo Press. But we will also greatly expand the digital offerings. Welcome aboard!<br />
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p.s. I haven't posted in eons. Apologies to many of our recent and not-so- recent acquisitions: such as DemandForce, ACE, NetDriven, nGage, and UnityWorks. You're all doing very, very well and despite the fact that I like travel insights, I like the amazing and synergistic combination of businesses we've put together even more. I have to say that. But it's still all true.<br />
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Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-22392409559419821622014-06-03T06:20:00.000-07:002014-06-03T06:20:18.187-07:00Internet Brands Welcomes KKR<div class="separator" style="clear: both; text-align: left;">
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Today at Internet Brands we announced that KKR will be assuming Hellman & Friedman's role as our primary financial sponsor and Board members, as we look to build upon our success and extend the Internet Brands franchises in the years ahead. Our management team will continue to run the company and will participate as meaningful minority shareholders.
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At Internet Brands we have tremendous growth opportunities in front of us. We believe the KKR technology team understands our strategic plans and shares our excitement to extend our leadership in vertical solutions in markets such as Automotive, Legal, Health, Home and Travel.
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Our partnership with H&F has been very constructive. As measured by a number of important metrics, we have roughly doubled in the last four years: revenues, ebitda, personnel, number of customers, and so forth. The H&F team challenged us, encouraged us, and supported us. We will miss them in our Board room.<br />
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At the same time, we warmly welcome the partnership with the KKR team and global brand and have a renewed sense of vigor as we pursue our mission with them.<br />
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To the entire IB family of employees (now 1,600+ strong), I congratulate you on what we have achieved together. And I believe the best is ahead.
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Passion fights process, hates to be patient, and often tramples teamwork.<br /><br />Mission scales.<br />Mission aligns passion to purpose and to people.<br /><br />Mission is the source of the endurance, alignment, and resolve needed to win for the long-term.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com7tag:blogger.com,1999:blog-4744762735048025778.post-5449908893530118732012-01-30T05:04:00.000-08:002012-11-22T05:36:11.176-08:00Journalism's Emergent RenaissanceIs professional journalism dying? <br /><br />I've always found this line of thinking to be nostalgic. I believe the contrary: journalism isn't dying, but changing and expanding in ways that may ultimately make it more powerful than ever. The changes in the profession, as in so many, are disruptive and painful. But the changes are inevitable and likely lay the foundation for a better approach. <br /><br />For most of history, journalists didn't give a damn about their professional standing-- they were happy to be <a href="http://prorev.com/jcraft.htm">craftsmen</a>, in the tradition of ink-stained wretches. As late as the 1950's, more than 50% of reporters lacked college degrees. At its core reporting was (and is) dressed in overalls: it's about unearthing facts, eliminating noise, assembling context, and building insight. It's hard, honorable work.<br /><br />The scaling of "big" professional journalism-- investigative teams, large budgets, and relatively leisurely deadlines-- was a modern development, fueled by the big profit growth of traditional media in 1970's and 1980's. "Big" journalism had business success (Newsweek, 60 minutes) and journalistic success (a la Woodward and Bernstein). The fruits of that era were sweet: I miss Ted Koppel's nightly explorations of the world and the heft of the weekly news magazines.<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCGkYSfz-JAJbIj2s0O3hQyeJf_DeXihyphenhyphenHU9g5tcDQqRNTcN4RmKii26tZO0RQ9Ve5AGZPtyQbeyKh2dBAIl2oL6-TVM409chFv9pkTH_0cgJAEzCDczEhb6YoL_4mfdbtYzo3ExSiYy-s/s1600/camelback.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 150px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCGkYSfz-JAJbIj2s0O3hQyeJf_DeXihyphenhyphenHU9g5tcDQqRNTcN4RmKii26tZO0RQ9Ve5AGZPtyQbeyKh2dBAIl2oL6-TVM409chFv9pkTH_0cgJAEzCDczEhb6YoL_4mfdbtYzo3ExSiYy-s/s200/camelback.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5661304270787007810" /></a>But "big investigative journalism" was never a model that scaled very far. Only a very small subset of media outlets had the resources to fund true investigative staffs of any real scope. Big investigative journalism was mostly not commercially viable, but the beneficiary of cross-subsidies amongst a few powerful traditional media outlets.<br /><br />There is absolutely no way I would trade my current cornucopia of internet news sources for those "glory days". In the digital world, the reach, breadth, depth and timeliness of coverage is improving at a fantastic rate. It scales.<br /><br />The criticism of the digital journalistic age is that quality is declining, specifically in these areas:<br />1. More amateur reporting<br />2. Less objective reporting<br />3. Less serious new coverage<br />4. Over emphasis on frivolous "newsertaintment" coverage<br /><br />Let's look at each of these issues. <br /><br />More amateur reporting. Yes, that's true. But there's also far more expert reporting now. I follow dozens of niche bloggers whose expertise massively outstrips that of the traditional media journalists they might have displaced. I mostly ignore the legions of new amateur "journalists" and find the true experts. Many of these experts had no voice before, as they had no access into the very limited "newshole" of traditional media outlets. My news and info diet is richer than ever. <br /> <br />Less objective reporting. This criticism rides with the amateur argument: that only professionally trained journalists that can be objective. While this argument has some merit at the margin, there is a counter argument as well. Since the digital era opens the media to more expertise, that expertise often comes packaged with a better brand of objectivity-- informed by much deeper subject matter knowledge.<br /><br />Less serious new coverage. This argument says we are now lacking in coverage of the most important issues, like Middle East peace processes or inner city economic woes. I'd again make a counter argument, that as the costs of producing and distributing coverage have declined, there is more of it-- at all levels. <br /><br />Over emphasis on frivolous coverage. Or, put less delicately:"we're now drowning in crap". Sigh. This criticism is true. Such is the inevitable sprawl of growth-- you get more of the good stuff and more of the bad. Both weeds and flowers multiple in the Spring. The good news is that this profusion will be mitigated by emerging "filtering technologies" that leverage human curation.<br /><br />Now that the bottlenecks of printing presses and TV towers have been removed, journalism's finest days are ahead. I say this in the same way that musician's best days are ahead. The traditional work of studio musicians may have disappeared, but with the bottleneck of record labels removed, the innovative work of distributed auteurs is multiplying at a terrific rate. Making a living is certainly becoming more difficult in many fields. But this is the consequence of global competition and equal access, not signs of devolving, but evolving.<br /><br />Perhaps a profession's greatest moments are when gatekeeping collapses and the market sorts out the talented influx of para-professionals and allied professionals. As exclusivity of knowledge and tools propagate, the definition of a "professional" becomes determined by the level of mastery, not by the issuer of one's diploma, license, or paycheck.<br /><br />With this admittedly optimistic outlook, I say journalism's finest moments are ahead.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com9tag:blogger.com,1999:blog-4744762735048025778.post-30969137079476350112011-07-25T06:00:00.000-07:002012-10-17T07:31:49.337-07:00I chat with Ray Kurzweil about replicating Ray<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s1600/kurz2.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 153px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s200/kurz2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5633292041428713970" /></a>As I chat with <a href="http://en.wikipedia.org/wiki/Raymond_Kurzweil">Ray Kurzweil</a> after a private screening of <a href="http://transcendentman.com/">Transcendent Man</a>, I'm equally awestruck by his genius and his certitude.<br /><br />As you know, Ray's primary message is that computers will soon be much smarter than humans. In fact, orders of magnitude smarter. Period. End of discussion.<br /><br />No hedging on definitions of "intelligence". Nor any hedging on timing. It will easily happen in the next 40 years, most of it in the next 20-30 years.<br /><br />Bam, next question, my friend?<br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s1600/kurz2.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 153px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s200/kurz2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5633292041428713970" /></a><br />I feel aligned with much of Ray's logic and conviction. Compared to puny human brains, computers have:<br />1. More memory<br />2. Better memory<br />3. Faster processors<br />4. Faster networking capability<br />5. Better power supplies (our biology)<br />6. Less noise (emotional, chemical, etc)<br /><br />I know the long "last mile" for AI is judgment. I know AI is moving very quickly on many dimensions, but slowly on others. As we chat, I start to wonder what would be the last bastions of "human-ness"? I imagine my computer telling me, "I told you so!" I hear Ray's voice....<br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s1600/kurz2.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 153px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s200/kurz2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5633292041428713970" /></a><br />He is sharing his hope that he will live long enough to "transition" to a <span style="font-style: italic;">perfect</span> digital copy of himself. You read that right, a perfect, thinking, "feeling" digital version of himself.<br /><br />As Ray and I chat, my feelings of cynicism rise less than I expect. His confident, warm manner invites dialogue.<br /><br />I check myself for perhaps thinking too small and I try to suspend my disbelief, as if I were still watching a movie. Then I quickly decide it's time to get in the game. <br /><br />I ask Ray, "In your future world view, couldn't the "real" you be infinitely replicated? What are your thoughts on version control and on counterfeit Rays?"<br /><br />I get a thoughtful, optimistic response. <br /><br />That's the very best part about Ray-- his optimism. It cuts through cynicism like a knife and drives both his genius and his audacious certitude. <br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s1600/kurz2.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 153px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgB7znG2wFMmZ6U0MUc7wuGOpy1mF46hytg0nLyXadCm0gOztHYm6jhDAeMAf0OueyDPBUM8MRB88__dqkYjlDH7aiOKiQR8NNQ8k1Uc3LJFcDfKxVJlSFcSuly6F7ni7c4f6ZdmWtpc6D8/s200/kurz2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5633292041428713970" /></a><br />As you may know, many computer scientists agree with Ray that computers will eventually become <a href="http://www.nickbostrom.com/2050/outsmart.html">more intelligent than humans</a> and Marvin Minsky's 1982 essay is still a fun read: "<a href="http://web.media.mit.edu/%7Eminsky/papers/ComputersCantThink.txt">Why People Think Computers Can't</a>". Minsky addresses the issue of whether computers can be creative and writes, "We shouldn't intimidate ourselves by our admiration of our Beethovens and Einsteins. Instead, we ought to be annoyed by our ignorance of how we get ideas."<br /><br />AI scientists completely disagree about end game states, along the widest imaginable spectrum between Utopia and Dystopia. While some worry deeply about how AI could run seriously amok (see <a href="http://www.nytimes.com/2009/07/26/science/26robot.html">NYT story</a>), Kurzweil's unflappable optimism makes him the spiritual leader of the Utopian view.<br /><br />I thanked Ray for the chat via email the next day and received a lovely response, and autographed copies of his two latest books.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com4tag:blogger.com,1999:blog-4744762735048025778.post-27466771506189934702011-06-13T06:09:00.000-07:002011-06-18T06:34:43.742-07:00Is Twitter an Upper Division Facebook?Awareness of Twitter is > 90%. But usage is < 10%.<br /><br />Why the huge gap?<br /><br />Because <a href="http://twitter.com/#!/twitter">@Twitter</a> is <a href="http://twitter.com/#!/search/%23funky">#funky</a> for the <a href="http://twitter.com/#!/search/%23mainstream">#mainstream</a>.<br /><br />But this could/should change as:<br />-- Mainstream social usage become more sophisticated<br />-- Twitter evolves<br />-- Apple (and others) push the platform<br /><br />Wikipedia seemed exotic and not trustworthy to many people as little as 5 or 6 years ago. In a similar way, I think Twitter still seems exotic and strange to many. But this could change as more graduate into upper division social media.<br /><br />Is a new killer app needed for Twitter to close the gap? I'd argue Twitter's current role as a "real-time, social, news/info aggregator" is pretty killer, where wisdom of the crowds meets personalization meets messaging/social (digg meets rss feeds meets facebook). But relatively few people outside of the "tech enlightened" know how to use Twitter very well. It's quirky, with its own protocols, and complexities. But some of the peccadillos will fade with familiarity and others will be eliminated with product evolution. <br /><br />In the future, I expect the Twitter ecosystem to birth a few more killer apps as well.<br /><br />FB is likely to remian the 800 pound gorilla. But Twitter's still got some interesting runway ahead.<br /><br />For more on this, here's a great post on the <a href="http://www.briansolis.com/2011/06/the-twitter-paradox/">Twitter Paradox</a> by <a href="http://twitter.com/#!/briansolis">@BrianSolis</a>Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com1tag:blogger.com,1999:blog-4744762735048025778.post-85015072192415367372011-06-11T13:58:00.000-07:002011-06-13T19:28:35.678-07:00Some of My Favorite TwitteriansHere's what I look for in a great everyday twitter follow:<br />-- High signal to noise ratio<br />-- Insightful links<br />-- Enlightened POV<br />-- Humor<br /><br />Here's some of my current AAA list:<br /><br />Best Economist<br /><span style="font-weight:bold;"><a href="http://twitter.com/#!/pkedrosky">@pkedrosky</a></span> Paul Kedrosky is a freak of human capital: a witty, insightful, prolific economist, whose ironic take on the markets resonates with me. I find his digesting of financial news to be without peer. I almost always deprecate tweeters of his velocity (a 40,000 tweet corpus so far), but not Paul.<br /><br />Best Correspondent<br /><span style="font-weight:bold;"><a href="http://twitter.com/#!/bill_gross">@Bill_Gross</a></span> Among his many talents, Bill is the Edwin R Murrow of elite conferences, brilliantly reporting from his ringside seats with the rich and hyper-intelligent at Davos, TED, Web 2.0, All Things D, Milken Global and others. Following Bill's insightful and voluminous conference streams is like sitting next to Vin Scully or Chick Hearn-- you feel like you're at the game, without ponying-up the 6 figures required to join the glitterati circuit.<br /><br />Best I-Banker (really, there is one)<br /><span style="font-weight:bold;"><a href="http://twitter.com/#!/epicureandeal">@EpicureanDeal</a></span> He uses a pseudonym for his piercing commentary, because in his line of work you must be in disguise to be honest.<br /><br />Best Startup Team Tweets<span style="font-weight:bold;"><br />#FRC</span> The @firstround hash is fun as they canvas the world making dozens (ultimately hundreds) of seed investments, producing a consistently insightful and witty trail. And their Holiday videos are unrivaled. <span style="font-weight:bold;"><a href="http://twitter.com/#!/joshk">@joshk</a> <a href="http://twitter.com/#!/hlmorgan">@hlmorgan</a> <a href="http://twitter.comhttp:/#!/chrisfrc">@chrisfrc</a> <a href="http://twitter.com/#!/kentgoldman">@kentgoldman</a><br /></span><br />Best Social Scout<br /><span style="font-weight:bold;"><a href="http://twitter.com/#!/ryanspoon">@ryanspoon</a></span> Ryan's got extremely sharp eyes on what's happening in everything "social", from platforms to advertising and marketing. I learn a lot from him. <br /><br />Most Eclectic<br /><span style="font-weight:bold;"><a href="http://twitter.com/#!/jhagel">@jhagel</a></span> A colleague of mine twenty years ago, John's vision of where the digital world is headed has been uncanny and prescient. His tweet stream, a favorite of mine, is robust and eclectic, unearthing all manner of wonderful things.<br /><br />I'll add to this list and I'd like to hear your favorites @BobBrisco.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-40641890859776939582011-06-05T18:47:00.000-07:002011-07-16T06:54:17.041-07:00The Damn Bubble in Bubble Analogies<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEib72MrnIEz53NMvMXRqQqrpi93T6GVHlKL5YOvjdJzXcWTgxgnwyV8XzHz0PIjfhI3272_qZQLDCRENezes38gge6oBxgw_7narMeJkS53Bbi64CRk1AW7MnqepUJa1QsAqUvyORODtLMn/s1600/mrbubble.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 169px; height: 200px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEib72MrnIEz53NMvMXRqQqrpi93T6GVHlKL5YOvjdJzXcWTgxgnwyV8XzHz0PIjfhI3272_qZQLDCRENezes38gge6oBxgw_7narMeJkS53Bbi64CRk1AW7MnqepUJa1QsAqUvyORODtLMn/s200/mrbubble.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5614960878644119954" /></a><span style="font-style:italic;">Dear patient readers, apologies for this newest missive in the expanding "pet peeve" department.</span><br /><br />I'm calling for an international cease-fire in the usage of the term "bubble".<br /><br />Suddenly there are bubbles everywhere: an internet stock bubble, sovereign debt bubbles, an education sector bubble, commodities bubbles, and consumer consumption bubbles. <br /><br />Enough already.<br /> <br />We've had a few legitimate bubbles in the last 80 years. One instance in 1929. Another in 2000. And again recently with real estate/credit. Who knows, maybe there is another in the wings. But not around every corner.<br /><br />Economists reserve the term bubble for the real thing-- a massive collapse of value that takes something like decades to recover. The term is not used as a synonym for corrections or potential crises, or for trends, drops, dips, or blips.<br /><br />Nosebleed valuations on a few internet IPOs should not qualify as a bubble. Rapidly rising costs of education should not constitute a bubble. They are serious issues and troublesome trends.<br /><br />Below I offer an example of the rise of bubble speak using Google Ngram. For 50 years people referred to "home prices declines", but now they deploy the b-word. (Perhaps bubble is appropriate for condos in Las Vegas or Florida, but in many parts the phrase "painful correction" would fit better.) You find this escalation in vocabulary in many other markets as well-- and the trend appears to be accelerating.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3hX3y2Wcjd1aJw9yIGyqOtpObIDqVLHMJSXQ9i0TvJnQqNg6gOmw-woJa10i-qx7n2eByN8AqYoji9b1n9Rm1g3OyXU7tyDY0f8i0IvGxuAstMR4wAa4VWcgXeEgH-05rEwjQltQZVhar/s1600/bubble.png"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 147px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3hX3y2Wcjd1aJw9yIGyqOtpObIDqVLHMJSXQ9i0TvJnQqNg6gOmw-woJa10i-qx7n2eByN8AqYoji9b1n9Rm1g3OyXU7tyDY0f8i0IvGxuAstMR4wAa4VWcgXeEgH-05rEwjQltQZVhar/s400/bubble.png" border="0" alt=""id="BLOGGER_PHOTO_ID_5614950063495188354" /></a><br /><span style="font-style:italic;"></span>Obviously sensationalism sells, so people reach for a bazooka, rather than precision ordinance that might be more helpful to understanding. <br /><br />Ka-boom. Make big claims or go home.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com2tag:blogger.com,1999:blog-4744762735048025778.post-12937063282577875572011-05-02T05:00:00.000-07:002011-05-02T05:35:54.306-07:00Internet Brands Welcomes Nolo<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7-GqtriEkRiy4LeJZPU7Ebri0RRv-AAzSHelpEjgz76zh7FhudU7S00KGcMKwe9SMB47lgQzpBzqCHNH0VwnmeRMrTlCskNywofT1OgpIfdg9lzLwoPdRVNjvg9ZfVHJm9iDuAX3tswds/s1600/nolo+2.jpg"><img style="float: right; margin: 0pt 0pt 10px 10px; cursor: pointer; width: 200px; height: 200px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7-GqtriEkRiy4LeJZPU7Ebri0RRv-AAzSHelpEjgz76zh7FhudU7S00KGcMKwe9SMB47lgQzpBzqCHNH0VwnmeRMrTlCskNywofT1OgpIfdg9lzLwoPdRVNjvg9ZfVHJm9iDuAX3tswds/s200/nolo+2.jpg" alt="" id="BLOGGER_PHOTO_ID_5601539876781278018" border="0" /></a>I am delighted to welcome <a href="http://www.nolo.com/">Nolo</a> to our Internet Brands family. Nolo is the leading legal publisher for consumers-- both in print and online.<br /><br />We are proud of Nolo's 40 years of publishing excellence, outstanding content team, powerful author network, and mission-driven culture.<br /><br />It's been a pleasure getting to know Nolo's visionary founders Jake Warner and Toni Ihara.<br /><br />What are our plans?<br /><br />1. Expand Nolo's lead as the best consumer legal publisher in all formats (print, ebooks, web, mobile)<br /><br />2. Invest strongly in the digital parts of the business<br /><br />3. Capture synergies with our existing online businesses<br /><br />Nolo continues Internet Brands' tradition of acquiring best-in-class assets in vertical markets, such as in automotive, careers, health, legal, and shopping. Nolo's print assets are more extensive than our previous acquisitions, but those business lines are performing well, have expansion opportunities, and are essential to the Nolo brand.<br /><br />We see great opportunity with Nolo and welcome the company to our family.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-58487654232926239422011-05-01T06:09:00.000-07:002011-05-17T07:38:26.388-07:00The Soul of Grit<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvJCm4pQ6TCh4muRwxXW1pC-EJCu24YfVOAw-bHx0LDOhoMIy9GO8JEIquvxURvXNCyxBfa1E0maw5UvB9-y_VPNeT4tcNXy7QZ2BYWPE93M1yX4IQjFC6wDY08y42w_qiYiFO9bCP5s_Y/s1600/superboy.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 134px; height: 200px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvJCm4pQ6TCh4muRwxXW1pC-EJCu24YfVOAw-bHx0LDOhoMIy9GO8JEIquvxURvXNCyxBfa1E0maw5UvB9-y_VPNeT4tcNXy7QZ2BYWPE93M1yX4IQjFC6wDY08y42w_qiYiFO9bCP5s_Y/s200/superboy.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5604378825205059186http://www.blogger.com/img/blank.gif" /></a>Why are some people more <a href="http://www.bbrisco.com/2009/11/passion-wins.html">passionate</a>, more determined, more gritty? Why are some better leaders? Why do some master the <a href="http://www.bbrisco.com/2011/04/secret.html">secret</a> of success?<br /><br />A big part of the explanation is because they <span style="font-style:italic;"><span style="font-weight:bold;">believe</span></span>. They believe in themselves and in their mission. They believe they will be successful.<br /><br />A Stanford researcher, Carol Dweck, conducted a controlled <a href="http://www.npr.org/templates/story/story.php?storyId=7406521">experiment</a> that suggests people who <span style="font-weight:bold;"><span style="font-style:italic;">believe</span></span> in an <a href="http://news.stanford.edu/news/2007/february7/dweck-020707.html?q=stories/study-shows-how-mindset-affects-learning"><span style="font-style:italic;">expandable</span></a> theory of intelligence learned faster than those who have a fixed mindset and are concerned with how smart they are. Outperforming students were simply taught that the brain is elastic, like a muscle that gets stronger by using it. <br /><br />Even a brief change in mindset can produce results. In one <a href="http://www.psychologytoday.com/blog/ulterior-motives/201103/your-beliefs-affect-the-strength-the-placebo-effect">study</a> people who consumed a "brain stimulating drink" (actually a placebo) immediately performed better on tests-- like 40% better.<br /><br />If believing in ourselves works so well, why don't we?<br /><br />Perhaps we are taught to doubt. Perhaps we learn to accept failure. Perhaps we need better mentors and coaches.<br /><br />Perhaps summoning our inner <a href="http://www.bbrisco.com/2011/04/got-grit.html">grit</a> begins with straightforward choices.<br /><br /><span style="font-style:italic;">"Some things have to be believed to be seen."<br />-Ralph Hodgson</span>Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com4tag:blogger.com,1999:blog-4744762735048025778.post-19307418000867717182011-04-25T06:14:00.000-07:002011-04-30T16:52:44.961-07:00Stay gritty, my friends<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiaYsFIbpuR-NdppurHXQs6Lnb5JqS2C81-6I60UmLBdNHO9dEh64NZiJh9HHsgdz5SHZbJbDlPe_wpAbPCFka6zHoOhy3dWSojbvqSQioihmRW_Xpgh2IV2cvVTIYUCYr6cvziby4HaDXu/s1600/most-interesting.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 165px; height: 200px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiaYsFIbpuR-NdppurHXQs6Lnb5JqS2C81-6I60UmLBdNHO9dEh64NZiJh9HHsgdz5SHZbJbDlPe_wpAbPCFka6zHoOhy3dWSojbvqSQioihmRW_Xpgh2IV2cvVTIYUCYr6cvziby4HaDXu/s200/most-interesting.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5599298501670988914" /></a>Think of it as a magical state we could call "perpetual start-up mentality". <br /><br />As your company scales, enjoys escalating profits, and attracts genius employees, you need to fight to hang on to your fiery, edgy, start-up impulses.<br /><br />Without a doubt, developing a scaled enterprise requires <span style="font-weight:bold;">moving beyond</span> pure scrappiness-- like those constant late-night banzai work sessions with cold pizza.<br /><br />However, remaining a thriving, scaling enterprise requires <span style="font-weight:bold;">preserving</span> your sharp edges, perhaps bundled with a bit more elegance.<br /><br />All companies are vulnerable to the negative side effects of maturation, and technology companies especially so, if they lose their hunger. Fight to keep:<br />-- Urgency for innovation and reinvention<br />-- Distaste for bureaucracy<br />-- Courage to pivot<br />-- Raw intensity <br /><br />Which brings us to the tricky balance: scaling, while staying <a href="http://www.bbrisco.com/2011/04/got-grit.html">gritty</a>, my friends.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-25337405790178005372011-04-19T06:19:00.000-07:002011-04-24T20:39:53.107-07:00The "Secret"<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfRSW5Msig3h8eJX-GEOzzTDve9H558m8n4tzda4GKPkCA4PLroat0g7Z5eDdHS5-IETEEGb5ElCBT0XL2lo2j3zDaUpaTOJOVkfykr1VuONa94hOoVN_otqjSwFgM7yFCZreYhb0hZWPK/s1600/sssh.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 132px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfRSW5Msig3h8eJX-GEOzzTDve9H558m8n4tzda4GKPkCA4PLroat0g7Z5eDdHS5-IETEEGb5ElCBT0XL2lo2j3zDaUpaTOJOVkfykr1VuONa94hOoVN_otqjSwFgM7yFCZreYhb0hZWPK/s200/sssh.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5599360754029137730" /></a>In basketball it's simply known as the "secret". You can't find it on stat sheets. You won't hear players or coaches talk about it. You won't see awards or trophies for it.<br /><br />No one talks about the "secret", because it's more fun to exalt blinding talent and individual heroics. But the great ones know. It's about their team's performance.<br /><br />Some of the best in the game never learned the "secret" and the ultimate success eluded them. Bird, Magic, and Russell understood it, mastered it, but rarely described it.<br /> <br />The "secret" is about <span style="font-style:italic;"><span style="font-weight:bold;">willing</span></span> your team members to overachieve. About caring so much about your mission that you inspire your team to push the envelope, competing at the highest level. About refusing to fail and making the sacrifices needed to win.<br /><br />To assess whether you're beginning to comprehend the "secret", I'm suggesting these criteria. Do you:<br /><br />1. <span style="font-weight:bold;">Set high standards</span> for your self and your team?<br />2. <span style="font-weight:bold;">Personally execute</span> to those standards with intensity?<br />3. <span style="font-weight:bold;">Help others</span> on the team reach those standards?<br />4. <span style="font-weight:bold;">Upgrade the team</span>, identifying necessary changes in roles?<br />5. <span style="font-weight:bold;">Upgrade your own skills</span> continually?<br />6. <span style="font-weight:bold;">Ensure great teamwork</span>?<br />7. <span style="font-weight:bold;">Consistently win</span> over time?<br /><br />The "<a href="http://pojoaquenews.com/featured/the-secret-of-basketball/">secret</a>" ain't easy. It requires extraordinary <a href="http://www.bbrisco.com/2009/11/passion-wins.html">passion</a> and <a href="http://www.bbrisco.com/2011/04/got-grit.html">grit</a>.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com1tag:blogger.com,1999:blog-4744762735048025778.post-62260365205872615822011-04-03T09:06:00.000-07:002011-04-04T06:14:33.490-07:00Got Grit?<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4d3K_RXgf3KCY-YGNVEu1RtaCV1tvpmGw6T8BnL9j4HKnrNj3wjCN50JjwSiOyK04lolllMkNZw0ORykI55G_oKki_tjcL9VoUin_tNO6YiNpKXDLKRw2kt3Q5NANWsi7JT5EBUgdmriv/s1600/sisyphus.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 197px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4d3K_RXgf3KCY-YGNVEu1RtaCV1tvpmGw6T8BnL9j4HKnrNj3wjCN50JjwSiOyK04lolllMkNZw0ORykI55G_oKki_tjcL9VoUin_tNO6YiNpKXDLKRw2kt3Q5NANWsi7JT5EBUgdmriv/s200/sisyphus.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5591395882550833474" /></a>Our company will hire considerably more than 100 new full-time employees this year.<br /><br />What do we look for?<br />1. Talent<br />2. Grit<br /><br />We hire only if we believe you have both. Grit works hard. Grit overcomes obstacles. Grit plays well on teams. Grit gets better over time. Grit perseveres. Grit leads.<br /><br />In our hiring, we attempt to measure talent by administering tests, reviewing accomplishments, and conducting case interviews. <br /><br />Unfortunately, it's more difficult to measure grit. We probe by understanding work history, interviewing references, and getting to know candidates as much as possible as people. <br /><br />Unlike talent and smarts, you can't directly "show us" your grit. But you can help us discover it.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com5tag:blogger.com,1999:blog-4744762735048025778.post-7693856306742461742011-03-25T09:12:00.000-07:002011-03-29T09:28:01.935-07:00I knew you would read this post...<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqG1rjOegmPJnaQYMHssx-V1_GvfHazqlihj3GmW6Agy4VCBSrcpsuaDq6NpszTdRi7vPrI0DoIvd0j-a0jH0tpe9ILbhyJw6EzR2Zo1mnvkCCbe2N2pj8J4VeDnjaytTtnjSPppyAjldD/s1600/carnac.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 186px; height: 200px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqG1rjOegmPJnaQYMHssx-V1_GvfHazqlihj3GmW6Agy4VCBSrcpsuaDq6NpszTdRi7vPrI0DoIvd0j-a0jH0tpe9ILbhyJw6EzR2Zo1mnvkCCbe2N2pj8J4VeDnjaytTtnjSPppyAjldD/s200/carnac.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5588355129711350194" /></a>...since my personal intelligent agent interacted with yours and calculated a <span style="font-weight:bold;">73%</span> likelihood that you would visit this page. <br /><br />Your personal agent, using algorithms learned from your online behaviors, made the prediction based on:<br />-- Your social graph linkages to me <br />-- Your <a href="http://blog.assetmap.com/2010/11/social-web/why-the-interest-graph-will-reshape-social-networks-and-the-next-generation-of-internet-business/">interest graph</a> linkages <br />-- Your prior content consumption behaviors<br /><br />So you're not sure how you feel about your agent yet-- is this going to be annoying? Invasive? Insipid?<br /><br />Or, is your agent potentially a best friend? A source of discovery? Of convenience? Of joy?<br /><br />Like all new relationships, only time will tell. If you've chosen a high quality, sophisticated agent and invested the time to work with it, you might develop a long-term, trust-based relationship. <br /><br />You might respect your agent's nuanced recommendations for navigating the web, making purchases, and finding business contacts.<br /><br />Your agent is related to the current "you may also like this" suggestion engines at Amazon, Facebook, and Linked-In. But your agent is far more powerful. And your agent works for <em>you</em>, not for them. Your agent follows you through your web experiences like an assistant, and also works independently, interacting with APIs and other agents. <br /><br />Your agent's behaviors are under your control. You tell your agent what information you like and how to deliver it to you. You tell your agent how much privacy you require and under what circumstances. You send your agent on critical missions. If your agent fails you, you might hire another.<br /><br />How long before you can hire and develop an agent you trust? <br /><br />Probably surprisingly soon.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-58731311919440736702010-11-15T07:53:00.000-08:002010-11-15T08:02:26.131-08:00Agile Organization<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwFBpvWPj2EDWnCye99-Fu5CL_uXPKUsqsYaYavQRlA_-zH74sA2jFdqtU8rzxGiGVV_LvbEg9cOPAzMkCerT8jY2nwwJBbR4hScv4E7ZOOI9b6sAZGzPyrzBjktakl9WW7KofHf4XzbhV/s1600/skydivers.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 206px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwFBpvWPj2EDWnCye99-Fu5CL_uXPKUsqsYaYavQRlA_-zH74sA2jFdqtU8rzxGiGVV_LvbEg9cOPAzMkCerT8jY2nwwJBbR4hScv4E7ZOOI9b6sAZGzPyrzBjktakl9WW7KofHf4XzbhV/s320/skydivers.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5477523993789818722" /></a>We try to grow agile leaders. We mostly follow <a href="http://scalingsoftwareagility.files.wordpress.com/2008/06/harnessing-innovation.pdf">agile project management</a>.<br /><br />But we're still not fast enough. So, now what?<br /><br />We're now implementing a homegrown method of <span style="font-weight:bold;">agile business management<span style="font-style:italic;"></span></span>. <br /><br />At its core, agile process simply means faster adaptation to change. By more rapidly iterating toward solutions, often in smaller steps, you drive faster overall progress.<br /><br />Why not the same with overall business governance? On one hand, almost all forms of governance tend to move slowly-- and by design. Since governance relates to consistent management, cohesive policies, and repeatable processes, rapid iteration seems a contradiction. Governance is supposed to be deliberative and careful. <br /><br />But we're finding that making rapid adjustments to governance are just as effective in management as in software development. These changes relate to people deployment, hiring, performance feedback, project assignment and prioritization, role definition and oversight-- in short, the "messy" people issues that are less comfortable to talk about than the status of projects. The messy issues involve changing the team itself, not debating project variances.<br /><br />Who cares if a project is on schedule if learnings indicate the project should be 10X bigger in scope? Who cares if a project is on schedule if the learnings indicate the project is doomed? Who cares why a project is badly behind schedule if the learning is the people on the project are over their heads?<br /><br />In all of these cases, it's difficult to project manage your way to the best outcome. You need bigger moves, like a change in strategy, structure, and people. <br /><br />These changes are less risky than people fear. Change keeps people fresh, spurs innovative thinking, challenges policies that need to change, and sharpens execution. Agileness keeps things moving. <br /><br />As with agile development, we closely monitor the business management changes. When the tests work, we continue and potentially accelerate. When they fail, we try something else.<br /><br />The keys to this approach are honesty and trust. Management must be courageously honest about what is not working and what can be done better. Management must trust one another to facilitate change. <br /><br />I'm hoping we can make our governance as agile as our project management.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-48125171618332126452010-11-14T08:12:00.000-08:002011-05-10T06:09:16.461-07:00My $0.02 of Career AdviceWhen I'm asked to give career advice, I say four things:<br /><br /><span style="font-weight:bold;">#1 Focus.</span> You have to choose to be great at something very specific, probably more specific than you'd like. I'd love to be good at more things. But you can't focus on too much, as mastery requires a ridiculous level of hard work. <br /><br /><span style="font-weight:bold;">#2 Hard work (grit). </span> To achieve mastery, you have to outwork others in your field. You need roughly <a href="http://en.wikipedia.org/wiki/Outliers_%28book%29">10,000 hours</a> to master a craft and that's just the ticket to play. Gladwell writes eloquently about this-- there are no exceptions, even among the Mozarts, Einsteins, Kobes, Gates, and Jobs.<br /><br /><span style="font-weight:bold;">#3 <a href="http://www.bbrisco.com/2009/11/passion-wins.html">Passion.</a></span> Given the required level of focus and hard work, you have to love your craft. I've never met an exception to this rule.<br /><br /><span style="font-weight:bold;">#4 Course correction. </span> Paths to success are messy, not merely emerging from the logging of 10,000 hours of focused, passionate work, but from making good <a href="http://calnewport.com/blog/2010/08/09/beyond-the-10000-hour-rule-richard-hamming-and-the-messy-art-of-becoming-great/">lifetime choices</a> against a backdrop of tradeoffs, ambiguities, and complexities.<br /><br />Now I'm looking back over this list. It sounds hard. But I'd say great results typically come only with great effort.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com4tag:blogger.com,1999:blog-4744762735048025778.post-53595626449728540122010-09-19T14:45:00.000-07:002011-02-12T15:51:47.339-08:00INET To Go Private<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4Qnt61J0pFvEMbxzTHUcm8EzwUfMC3XWCkVr9n7ZXPNbsbxfpvn8Fo2XuVzvIDj3W32a0LsEtxOl3WGQewzVZljrImYmHymajWXlYUf8luuPq-GbMBh5VEbRDM8vToX4iGQSnd46UkgqT/s1600/climb.JPG"><img style="float: left; margin: 0pt 10px 10px 0pt; cursor: pointer; width: 200px; height: 150px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4Qnt61J0pFvEMbxzTHUcm8EzwUfMC3XWCkVr9n7ZXPNbsbxfpvn8Fo2XuVzvIDj3W32a0LsEtxOl3WGQewzVZljrImYmHymajWXlYUf8luuPq-GbMBh5VEbRDM8vToX4iGQSnd46UkgqT/s200/climb.JPG" alt="" id="BLOGGER_PHOTO_ID_5518762975955202402" border="0" /></a>We may have completed, in but 3 years, the roundtrip:<br />Private--------->Public--------->Private<br /><br />Oh, what a trip it’s been.<br /><br />Today's <a href="http://finance.yahoo.com/news/Internet-Brands-Agrees-to-Be-iw-2030202712.html?x=0&.v=1">news</a> is that Internet Brands has agreed to be acquired by international private equity firm Hellman & Friedman.<br /><br />We became a public company three years ago, just as the global financial markets began to falter—and ultimately crater. We’ve prospered, despite the most difficult economic, financial, and advertising market backdrop in about 85 years.<br /><br />We take pride in our NASDAQ performance and shareholder returns. At the $13.35 offer price, our stock appreciated 67% from our IPO. That compares to an overall NASDAQ decline during the same period of roughly -10%. Our management team is proud of our performance and I am proud of them. We are blessed with a great team.<br /><br />So, why go private again? Because we believe this would be a good deal for our shareholders. Because we would continue to build one of the finest New Media companies in the world and become even more focused on long-term growth. Because H&F would be a great partner. H&F has impressed us with their knowledge of New Media, and with their professionalism, focus, and intensity. H&F Managing Director Andy Ballard has been an absolute pleasure.<br /><br />Without a doubt, we would miss many of the friends we have made along the way. INET will miss the brilliant, 11-year Chairmanship of Howard Morgan. (While we will lose a great Chairman, we retain a great friend.) We will miss the support and inspiration from all of our friends at Idealab, from Bill Gross, and from our terrific Board of Directors. We will miss some of the loyal shareholder relationships we have developed.<br /><br />As we prepare to embark on the next leg of our journey, we express deep gratitude for those who have been with us.<br /><br />-Bob<br /><br />* All of this assumes the transaction is approved by our shareholders and clears regulatory processes. See INET press release for more detail.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com4tag:blogger.com,1999:blog-4744762735048025778.post-47675625480232283212010-05-07T11:43:00.000-07:002010-05-24T06:35:10.430-07:006 Trends That Change EverythingI've been speaking about the combinatorial power of 6 massive trends, rapidly becoming mainstream, which are reinforcing each other and reshaping every aspect of the internet.<br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVBpOSiSuo7QAS0soGifFUgBoLngNwAe5YtGmvH5nETgV8tJN6yQYjkLRS2cbHq0OtHogLkF1e_6kzRWLoIk-K0b73Y1aL_ramctj5nhCly5hIN_GfNmhHCy22PxltttZFw27Vs-_TeAGN/s1600/hands.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 199px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVBpOSiSuo7QAS0soGifFUgBoLngNwAe5YtGmvH5nETgV8tJN6yQYjkLRS2cbHq0OtHogLkF1e_6kzRWLoIk-K0b73Y1aL_ramctj5nhCly5hIN_GfNmhHCy22PxltttZFw27Vs-_TeAGN/s200/hands.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5455997877347024578" /></a><br /><span style="font-weight:bold;">1. <a href="http://www.bbrisco.com/2010/04/vertical.html">Vertical</a>.</span><br /><br /><span style="font-weight:bold;">2. <a href="http://www.bbrisco.com/2009/04/local.html">Local</a>.</span><br /><br /><span style="font-weight:bold;">3. <a href="http://www.bbrisco.com/2010/05/social.html">Social</a>.</span><br /><br /><span style="font-weight:bold;">4. <a href="http://www.bbrisco.com/2010/05/accountable.html">Accountable</a>.</span><br /><span style="font-weight:bold;"><br />5. <a href="http://www.bbrisco.com/2010/02/medium-is-medium.html">Mobile</a>.</span> <br /><br /><span style="font-weight:bold;">6. Cloud.</span><br /><br />As they interact, these are complete game changers-- I will post about each. I believe we are now experiencing the third era of the internet: <a href="http://www.bbrisco.com/2010/05/platform-era.html">the platform era</a> (which follows the portal era and the search era).<br /><br />In this platform era, the combinatorial power of these trends rule (such as social meets mobile meets vertical meets smbs). <br /><br />(A seventh massive trend,<span style="font-style:italic;"><span style="font-weight:bold;">Video Convergence</span></span> is its own game changer-- that's for a later series.)Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com1tag:blogger.com,1999:blog-4744762735048025778.post-7675202764902476282010-05-07T11:30:00.000-07:002010-05-09T08:43:32.645-07:00The Platform Era<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhImbbjcYLdCAllBSNbTmNQNsU_bBKavHo82nD3drkrZhqraVJ6ikh0xk9UiURUvGr-Egia3SQ8c9ZPkNUPSkvMoIbR_IUeHEsIiE2y4Mkd_Pvb_lpndsXqW7p3aTN_wFKcKZuD014_o1kc/s1600/network2.JPG"><img style="float: right; margin: 0pt 0pt 10px 10px; cursor: pointer; width: 320px; height: 240px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhImbbjcYLdCAllBSNbTmNQNsU_bBKavHo82nD3drkrZhqraVJ6ikh0xk9UiURUvGr-Egia3SQ8c9ZPkNUPSkvMoIbR_IUeHEsIiE2y4Mkd_Pvb_lpndsXqW7p3aTN_wFKcKZuD014_o1kc/s320/network2.JPG" alt="" id="BLOGGER_PHOTO_ID_5461847763713865794" border="0"></a>First came portals.<br /><br />Then came search.<br /><br />And now, with vengeance, come the more open platforms.<br /><br />As Yahoo/AOL defined the first era, and as Google defined the second, platforms (such as Facebook) will define the third.<br /><br />These platform companies are achieving ubiquitous user reach and they are spawning their own ecosystems. They harness the power of social grids and distributed applications. And it's only beginning. These platform companies will command monster market capitalizations, because they will be great businesses, achieving truly global scale very quickly.<br /><br />As these platforms interconnect (for example: social platforms meet local meet mobile meet vertical), the consumer utility and value of applications will soar.<br /><br />Who will the winning platform companies be? Facebook for sure. Google, Apple, and Amazon will likely remain huge, driven by their platforms. But there will almost assuredly be newcomers and surprises. There are always surprises.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-68273462469998845342010-05-07T10:43:00.000-07:002010-05-09T08:41:34.999-07:00Accountable.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYzLGAZtR54R4vuQroJlJN6mPY17E43_kqDYnU10jG1Zb7yts-atOEy-YTp181w9uDos6E0fwV_bFcpznPT0rYOuyXsuNBTY0W0keY71EdB2r4AfA0Higf7JRbwhrC0HZ1uCZ2hJkjYNzW/s1600/accountable.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 238px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYzLGAZtR54R4vuQroJlJN6mPY17E43_kqDYnU10jG1Zb7yts-atOEy-YTp181w9uDos6E0fwV_bFcpznPT0rYOuyXsuNBTY0W0keY71EdB2r4AfA0Higf7JRbwhrC0HZ1uCZ2hJkjYNzW/s320/accountable.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5462002285999042834" /></a>Advertisers continue their inevitable march to accountability. Generating awareness is helpful, receiving a click through is better, but driving sales is the real goal. <br /><br />Ten years ago, 90% of online advertising was sold on a CPM basis. Today that's only about a third. Instead, 45% of advertising is now sold on a CPC basis (the vast majority from Google). <br /><br />But the story doesn't end here. CPA-type advertising is now 19% of spending and sharply on the rise-- this includes: pay per call, cost per lead, revenue shares, and so on.<br /><br />I expect that 10 years from now CPA advertising will have caught-up with CPC (and perhaps exceeded it)-- and CPM advertising will have declined to the single digits.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com1tag:blogger.com,1999:blog-4744762735048025778.post-78573542125697352782010-05-06T18:34:00.000-07:002010-05-09T09:46:57.078-07:00Social.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpQYqxSn9Je4kOVGUdjbVFn3EHL0lzaeolASOw4HWAJpBl_Im9MAiqx2xqwjzN7ChShmJd8PJ8tE9usia8cM4YaTLRMHbHCd226r7fACTVglh7CJ1vujr9SvV4aDzwEhCocYSmCvMqin4z/s1600/grid.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpQYqxSn9Je4kOVGUdjbVFn3EHL0lzaeolASOw4HWAJpBl_Im9MAiqx2xqwjzN7ChShmJd8PJ8tE9usia8cM4YaTLRMHbHCd226r7fACTVglh7CJ1vujr9SvV4aDzwEhCocYSmCvMqin4z/s320/grid.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5469309647668375586" /></a>Social media is becoming pervasive at a startling rate, quickly attaching itself to-- and reshaping-- all other types of media on-line and off-line. A powerful transformational aspect is how it engages people by bringing game dynamics that bridge real life with online life. (See: <a href="http://www.bbrisco.com/2010/05/social-media-is-like-one-big-game.html">Social Media is Like One Big Game</a>)<br /><br />Social media profundly changes the business of the internet from the perspective of users, advertisers, and publishers.<br /> <br />User Perspective:<br /><br />* <a href="http://www.bbrisco.com/2009/09/ugc-tops-50.html">More than 50%</a> of all internet visits are now to UGC/social media sites<br />* More than 75% of time spent on the internet is "social"<br />* Facebook now captures as much <a href="http://blog.nielsen.com/nielsenwire/online_mobile/nielsen-provides-topline-u-s-web-data-for-february-2010/">time spent</a> on the internet as Google, Yahoo, and AOL <br />* Social media is crossing the chasm to lead video convergence<br /><br />Advertiser and Publisher perspective:<br /><br />* More than 80% of consumers are <a href="http://www.bbrisco.com/2009/10/social-media-marketing-part-i.html">influenced by social marketing</a><br />* For certain types of topical content, <a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/14/BUU51C0AMN.DTL">Facebook generates more</a> referrals than Google<br />* Social Marketing Optimization (SMO) is the new SEO.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-41397055346378727782010-05-05T11:26:00.000-07:002010-05-09T09:55:36.249-07:00Social Media is Like One Big Game<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzmC_BVJXnI_WXcM0Pmd7SWO3LTd-fTzXXo6gTNkvplKPDf89q9XwMsXHBYpVyK_rn6CtD0TpL7SUPLjwnr93qPS5IRE9OFWuJ8S2Mo-lYG87wkBmXrche2PocojsQi8YS1uxBcOAmM7cC/s1600/media_puzzle.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 226px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzmC_BVJXnI_WXcM0Pmd7SWO3LTd-fTzXXo6gTNkvplKPDf89q9XwMsXHBYpVyK_rn6CtD0TpL7SUPLjwnr93qPS5IRE9OFWuJ8S2Mo-lYG87wkBmXrche2PocojsQi8YS1uxBcOAmM7cC/s320/media_puzzle.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5461672635601067682" /></a><span style="font-style:italic;">Hey, I just read this really cool thing! <br />I just did this amazing stuff!<br />Do you like it? <br />Want to comment? <br />Want to be my fan?<br />Come play!<br />I'm over here!</span><br /><br />Social media give people new ways to interact, to engage, to share, to learn, and to recruit new members, customers, and fans.<br /><br />In many ways, Facebook/FourSquare/Iphone apps are one big "real life" game. <br /><br /><span style="font-style:italic;">Do something.<br />Post it.<br />Collect followers.<br />Earn points.<br />Multitply karma.<br />Repeat. <br /></span><br />This may all sound frivolous and much of it is. But so is most of TV, Cable, and Magazines-- and they were all fine businesses for decades. Where people gather at masive scale, advertisers and monetization inevitably follow. (And if the audinece has commerical intent or common interests, it's much better.) Monetization typically lags behind the audience shift by a few years. For instance, Google scaled its user base a few years ahead of generating any significant revneue. Same for Facebook. (As was the same for Cable channels in the '80's.) <br /><br />But the "lags" are shortening. And the revenue almost invariably follows.<br /><br />So, this begs the question: If social media is a big game, which social media platforms will win?<br /><br />A: The ones that best engage their communities, the ones that are the most rewarding to play.<br /><br />In the general case, "the medium is the audience"-- and the key is to rapidly evolve with your audience, like <a href="http://www.bbrisco.com/2010/05/social-media-darwin-in-real-time.html">Darwin in Real Time</a>.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-39971365087626031732010-05-04T11:49:00.000-07:002010-05-09T09:53:57.324-07:00Social Media: Darwin in Real Time<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCf9nFZ8FpM3VF2Ur82prcfN64ABdbGCyV0R9VNriCf1GG5hFERf565VX90FF4Av5IPi26cvhKfxMiafeezsfS8eZGTJNdPSPIWdRkUdszrPfw-u2ScQfOaQN8orHTrAGpTTRMEFV9CYEX/s1600/evolution.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 268px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCf9nFZ8FpM3VF2Ur82prcfN64ABdbGCyV0R9VNriCf1GG5hFERf565VX90FF4Av5IPi26cvhKfxMiafeezsfS8eZGTJNdPSPIWdRkUdszrPfw-u2ScQfOaQN8orHTrAGpTTRMEFV9CYEX/s320/evolution.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5468945516322086914" /></a>Social media is the fastest scaling and evolving business in history. That's because interactive media co-evolve with their audience, engaged in almost real-time evolutionary dynamics that are like Darwin at warp speed.<br /><br />Think of Facebook.<br /><br />When it started, its features were basically the same as other communities. Mostly plain vanilla. And it's focus was a relatively small vertical: Harvard.<br /><br />But FB evolved extremely rapidly. Why? Because it's community was highly engaged. And because it's founders quickly responded to many of their needs. <br /><br />While all businesses must be responsive, social media is unique because of the extent and speed of this co-evolution. Social media shares the basis of content production with its customers, shares the development of its platforms with software communities, and by virtue of being entirely virtual and organic, can evolve with a minimum of constraints (such as "locked-in" customer bases, heavy capital requirements, or regulatory hurdles). So evolution happens much faster.<br /><br />The greatness of all social media platforms will be determined by how well they evolve with their audience. Think of Linked-in or Yelp. Whether they flourish or flounder depends on both the strength of their communities and how well they will evolve with them.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com0tag:blogger.com,1999:blog-4744762735048025778.post-28543142141194197582010-04-10T09:54:00.000-07:002010-04-11T18:53:53.944-07:00Vertical.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhduRPR5OdvdfdKgvDfV6Gcx0stxczCj7m8fCYCifY2NGvO7jCqYpYy5s2UOfnQZuxxXN4Cple08wK78T5NQhCDF9oqhFxo4f-1dT-tKbXN5q5Psa_ZEamG4vEClLqOLNXia8FxPCnoEfEl/s1600/target.JPG"><img style="float:left; margin:0 0 0px 0px;cursor:pointer; cursor:hand;width: 230px; height: 230px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhduRPR5OdvdfdKgvDfV6Gcx0stxczCj7m8fCYCifY2NGvO7jCqYpYy5s2UOfnQZuxxXN4Cple08wK78T5NQhCDF9oqhFxo4f-1dT-tKbXN5q5Psa_ZEamG4vEClLqOLNXia8FxPCnoEfEl/s320/target.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5458948699719911922" /></a>Vertical is powerful.<br /><br />Consumers want precise, vertical information. They want true expertise. Reflecting this demand, search query lengths continue to rise-- with room to grow. Reflecting this demand, vertical sites are growing rapidly.<br /><br />Advertisers want precise, vertical targeting. Reflecting this demand, Kelsey Group expects extremely <a href="http://www.kelseygroup.com/press/pr080422.asp">strong growth of vertical</a> ad spending.<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYlkomdQxaGWBswiQDA4ASQdA_0aKUJS1Zfj8IV7MIBiyQjOp1Lovub8JgALmzRl36hYw69WwI_Xx2gvNcv0PTPuv00xzRJSRafgI44esBT0F7KAY2uWN8jjYcqoO0BXr2YfHABZuAMYJ4/s1600/comScoreWords-per-SearchUS.gif"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 270px; height: 171px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYlkomdQxaGWBswiQDA4ASQdA_0aKUJS1Zfj8IV7MIBiyQjOp1Lovub8JgALmzRl36hYw69WwI_Xx2gvNcv0PTPuv00xzRJSRafgI44esBT0F7KAY2uWN8jjYcqoO0BXr2YfHABZuAMYJ4/s320/comScoreWords-per-SearchUS.gif" border="0" alt=""id="BLOGGER_PHOTO_ID_5458553713648202050" /></a><br />Here are three powerful examples from the <a href="http://www.internetbrands.com">INET</a> portfolio:<br /><br /><a href="http://www.flyertalk.com">Flyertalk</a> attracts more than one million unique visitors per month- mostly heavy business travelers looking to optimize their rewards programs and travel experiences. The audience is extremely targeted and valuable to airlines, credit cards companies, and travel advertisers.<br /><br />A more vertical example: <a href="http://www.corvetteforum.com/">CorvetteForum</a> attracts more than 250,000 unique visitors per month. The audience is uniquely and massively valuable to aftermarket parts manufacturers, retailers, tuners, modifiers, and dealers.<br /><br />An even more vertical example: <a href="http://www.i-am-pregnant.com/">I-am-pregnant</a> is a community organized by week of pregnancy. For example, you could be a member of the current <a href="http://www.i-am-pregnant.com/Pregnancy/calendar/week/22">week 22</a> group.<br /><br />What are the limits to verticality? Only natural ones. Verticality forms around natural communities of interest. And where community collects, commerce (and advertising) follow.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com1tag:blogger.com,1999:blog-4744762735048025778.post-3334291395602983012010-04-09T14:01:00.000-07:002010-05-24T06:31:22.031-07:00Local.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirZEQaBNen2aR7EVb1N2HkJBkpqVjHNUAefEReatWFxL4oAQ1gw4cmm-VQqBS0a-KBs0YpLESzt98mR1R71Y_k_05x4G2s6QvANKzekjt6DtRdQcHYN4rU2WQsT-S22ybCo4-VHhyQsfFI/s1600/smbs.JPG"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 183px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirZEQaBNen2aR7EVb1N2HkJBkpqVjHNUAefEReatWFxL4oAQ1gw4cmm-VQqBS0a-KBs0YpLESzt98mR1R71Y_k_05x4G2s6QvANKzekjt6DtRdQcHYN4rU2WQsT-S22ybCo4-VHhyQsfFI/s200/smbs.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5456047075282034210" /></a>Local advertisers, aka <a href="http://en.wikipedia.org/wiki/Small_and_medium_enterprises">SMBs</a> (small and medium sized businesses), are increasing their online marketing budgets at dramatic rates.<br /><br />In 2009, during the worst advertising recession since roughly Guttenberg, SMBs grew their online spending. A couple of studies say the increases were between <a href="http://www.borrellassociates.com/wordpress/2009/06/30/local-online-advertising-may-be-up/">11%</a> and<a href="http://www.emarketer.com/Article.aspx?R=1007261">26%</a> in 2009, while shrinking the rest of their budgets. The <a href="http://www.briansolis.com/2010/05/social-media-in-small-business-is-anything-but-small/">social media activity of SMBs</a> is also soaring-- roughly doubling in the last 12 months. <br /><br />Why is this happening now?<br />-- Consumers are finding local information much more easily (Google, for instance, has really improved its <a href="http://smallbiztrends.com/2010/03/google-more-local-more-social.html">local search capabilities</a>)<br />-- Consumers are abandoning usage of other local media (when was the last time you actually used a physical yellow pages?)<br />-- Location based apps (fueled by mobile) are growing very rapidly<br />-- Advertisers are getting results<br /><br />How long will this rapid growth continue?<br />-- For many years, since online is still only a fraction of the overall <a href="http://www.borrellassociates.com/wordpress/2009/06/30/local-online-advertising-may-be-up/">budgets</a> (about 15-20%) of SMBs. I'd expect a significant majority of SMB budgets to migrate online.Bob Briscohttp://www.blogger.com/profile/07258585706210271803noreply@blogger.com2