In The News

First Round Capital turns 6, reflects on changes in VC

Business Insider Tuesday, November 30, 2010

Managing partner Josh Kopelman writes about the evolution of Philadelphia-rooted First Round Capital, which successfully closed on its third fund last week, in Business Insider.

Over the years, First Round Capital has evolved. We've become one of the most active seed-stage investors with the most visited VC website in the country. However, we have not changed our investment style or strategy. We still fund Powerpoints (though more Keynotes these days). We still fund pre-launch, pre-revenue ideas And, despite our growth, we have not really increased our average initial investment size. We still make investments as low as $50K. Our average initial investment size is still under $500K -- and we have never made an initial investment larger than $1M.

Over the last several years, First Round Capital has also grown our geographic footprint. Our investment team has grown from Howard and myself working in Philadelphia to an eight-person investment team working out of three cities. Our San Francisco office, led by my partner Rob Hayes, continues to be our most active office � with over half of our portfolio based in California. Rob is joined by Kent Goldman and with Christine's recent departure for Intel we are seeking to grow our west-coast presence by adding a SF-based Associate. (If you're interested in the position, please reach out to Rob Hayes with why you think you might be a good fit).

Original source: Business Insider
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Despite fresh casino plan, ship's future still floating in uncertainty

The New York Times Tuesday, November 30, 2010

While developers don't appear willing to put all their chips on a plan that would save the historic S.S. United States by making it a casino along the Delaware River, the ship's rehabilitation continues to garner attention, reports The New York Times.

A group that has been raising money to restore the 58-year-old ship had considered moving it from Philadelphia to Manhattan and converting it into a hotel and tourist attraction. But on Monday, the group proposed making the ship part of a plan to open a casino complex along the Delaware River.

The first casino in Philadelphia opened in September, but no progress has been made on a waterfront site where another casino was supposed to be developed. The ship, affectionately known as the "Big U," has been tied to a pier near that site for years, while the members of the S.S. United States Conservancy sought a way to pay for its rehabilitation.

The ship, which at 990 feet is longer than the Titanic was, made 400 ocean crossings before it was retired. It was saved from the scrapyard this year when a Philadelphia philanthropist, Gerry Lenfest, donated $5.8 million. The conservancy used that money to buy the ship from Norwegian Cruise Lines, which had decided to sell it for scrap, and to keep it afloat long enough to devise a big idea for reviving the Big U.

Original source: The New York Times
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Museum without walls: Free, outdoors, open 24/7

Associated Press Tuesday, November 16, 2010

The month-old Museum Without Walls audio program uses technology to give many of Philadelphia's outdoor sculptures museum-quality perspective, reports the Associated Press.

Its self-guided audio tours are available 24-7 in several different formats: You can call phone numbers listed with each sculpture, use a free smart phone app, download the audio at http://museumwithoutwallsaudio.org to an MP3 player, or scan a special bar code (known as a QR or quick response code) on the free "Museum Without Walls" map at locations around the city.

The project's first phase includes 51 outdoor sculptures at 35 stops along a three-mile stretch of the bustling Benjamin Franklin Parkway from downtown to leafy Fairmount Park, a route popular with bicyclists, runners and walkers.

Original source: Associated Press
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Montco cabinetmaker shares collection struggles with NYT

The New York Times Tuesday, November 16, 2010

One of entrepreneurs' most difficult but oft-taken for granted duties is actually collecting money for the work they've performed, and Paul Downs of Paul Downs Cabinetmakers in Bridgeport, Montgomery County writes about his challenges for the New York Times.

Let's take a moment to consider the U.S. Postal Service, our best example of 19th century technology in all of its glory. Now, I understand it's trying to catch up, that it has big problems, and that it's stuck with a legacy operating model. But I don't care. (On) Friday, Oct. 15, I received a check that was postmarked Oct. 8, mailed from Houston to Philadelphia--seven days from Houston to Philadelphia! Are we still using mules? I've found that mail coming from Chicago is the worst; it can take 10 days or more.

I now use United Parcel Service for anything of any importance. UPS collects up to 6:45 p.m., its Web site tells me exactly how long it will take for the package to arrive, and the information is accurate. Many of the samples we send can go via U.P.S. ground, and they still get there overnight.

Original source: New York Times
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How WXPN's Bruce Warren defies radio's death knell

Washington Times Tuesday, November 16, 2010

The do-it-all mainstay of one of NPR's most successful and trend-setting radio stations, WXPN, Bruce Warren, talks to the Washington Times about new media, blogging and why public radio isn't just for old people.

Starting at the 35,000 foot view, at WXPN our mission is to connect musicians with audiences. That's the basic philosophical operating principle. At the heart of the XPN community is this idea of musical discovery, and that is a powerful driver of all the activity we engage in with our community. To that end, I think is where the educator, curator and benefactor ideas come in. What artists and records we decide to play, who we decide to book for World Cafe, what audio and video we chose to put on our web site, who we book for our weekly live music concert series with NPR Music, the bands we pick for our Artists To Watch, the musicians David Dye features on World Cafe: Next; all of this activity is seen by our community as them learning about something new (education) and our role in filtering what to feature (curation).

In the social world where there are endless amounts of choices to be made, curation is a powerful activity. But it has to be credible curation, trusted by our community. I think this is a value that you'll find many stations in public radio, of our format (however broadly defined), have in common. We take it seriously. How do I view us in the music industry? I think we're viewed as a very positive anomaly by my colleagues. XPN and my public radio colleagues are highly respected for what we do. And for good reason; we help artists quit their day jobs.

Original source: Washington Times
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Comcast's NBC leadership taking shape

Bloomberg Tuesday, November 16, 2010

Bloomberg is reporting that Comcast is close to announcing its management team as it acquires 51 percent of NBC Universal.

Robert Greenblatt, Showtime's former programming chief, will oversee NBC entertainment, said the people, who declined to be identified because the decisions aren't public. Jeff Gaspin, current chairman of entertainment, has been offered a lesser role and hasn't decided whether to stay, they said.

Comcast Chief Operating Officer Stephen Burke, who will become NBC Universal's chief executive officer, is putting his imprint on the entertainment company as the new owner prepares to take over from General Electric Co. In September, he told NBC Universal CEO Jeff Zucker he would be out of a job when deal with Philadelphia-based Comcast is completed. Comcast, the largest U.S. cable company, plans to combine its pay-TV channels with NBC, which also owns broadcast networks, a movie studio and theme parks. The company's purchase of NBC is awaiting regulatory approval.

Original source: Bloomberg
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Plasma center is Drexel's lastest move into NJ

The Philadelphia Inquirer Tuesday, November 16, 2010

Drexel University's Plasma Institute, the nation's larges such research center, is moving its laboratories to Camden's Waterfront Technology Center, reports The Philadelphia Inquirer.

"We don't think of the [Pennsylvania-New Jersey] border as significant," said Mark Greenberg, Drexel's provost. "We're a region here."

By all accounts, New Jersey has welcomed Drexel's interest. For example, the Plasma Institute's labs on the entire fifth floor of the Waterfront Technology Center were built at no cost to Drexel, with $3.5 million coming from the New Jersey Economic Development Authority and $1.5 million from the federal Economic Development Administration. The institute also received $158,355 toward its 10-year lease from the $175 million fund that came with the 2002 state takeover of Camden.

The institute was crowded out of its space at 34th Street and Lancaster Avenue in Philadelphia, according to its director, Alexander Fridman. But it also was attracted to working in the same building as the Applied Communications and Information Networking (ACIN) program, a business incubator Drexel started in Camden several years ago to develop technologies and products for military use.

Original source: The Philadelphia Inquirer
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The Philly-made USB Typewriter: Just what you always wanted

Geek With Laptop Tuesday, November 16, 2010

Philadelphia designer and printmaker Jack Zylkin, a regular in the Hive76 community of makers and crafters, has created and made available a USB Typewriter that Geek With Laptop just loves.

The USB Typewriter describes itself as a "groundbreaking innovation in the field of obsolescence", and frankly, I couldn't have put it better myself. To be serious for a minute though, some people do still prefer the touch and feel of a manual typewriter over a computer keyboard, and many people have old models that they are still very attached to.

In true open source tradition, Jack Zylkin, the man behind this project, even provides instructions to people who want to build their own USB Typewriter from scratch. So that makes a total of three different options available; making one from scratch yourself, buying a DIY kit to install yourself, and buying a completed typewriter from the website. Oh, I almost forgot, you can also send in your existing typewriter for Jack to convert.

The USBTypewriter is based on Arduino, and works with three main components. There is a sensor board made from metal contacts, a USB interface board with a Atemega Arduino chip, and Reed switches to detect any keys that don't strike the crossbar. Amazingly, the entire project only needs 11 wires to operate, nine of which lie underneath the chassis.

Original source: Geek With Laptop
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The $30M gift that can transform a college into a university

The Washington Post Tuesday, November 09, 2010

Delaware Valley College received $30 million in property and cash from the Warwick Foundation of Bucks County, and the gift is as much a psychological asset as an opportunity to grow from its agricultural roots, reports The Washington Post.

The donation announced in September includes a 400-acre farm worth about $15 million; a $10 million endowment to care for the land; and $5 million to support the college's long-term academic vision.

Warwick Foundation President Betsy Gemmill was already a fan of Delaware Valley when negotiations for the gift began about two years ago. Her father had once been chairman of the board at the school, which is about 10 miles from the family's farm in Warwick Township.
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Gemmill said (DelVal president Joseph) Brosnan sealed the deal with an ambitious agenda to add graduate programs and attain university status while retaining the school's agricultural heritage. The donation essentially doubles the institution's $16 million endowment and its land holdings.

Original source: The Washington Post
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How to spot future billionaires the Wharton way

Forbes Tuesday, November 09, 2010

Wharton School marketing professor David Reibstein lends his expertise in helping recognize all-star students and how they become wildly successful in this report by Forbes.

"There are always students that are very intriguing that you get engaged with and you want to follow them," said Reibstein. "I'm always willing to meet with people and give advice, but I try to resist getting too involved aside from giving advice. A lot of the ideas are OK and not beyond that, but every now and then you hear a really good idea coming from students who need some help."

Professors often get unique insight into how budding entrepreneurs work and strategize and sometimes they'll also get a preliminary glimpse of an idea with great potential. Many business schools have entrepreneurial programs geared to those students, but sometimes a student who makes a mark might get personal attention from the professor outside of school.

Students who are visionaries, are passionate about their business idea and have a good pulse in the marketplace have a good chance to succeed, says Reibstein.

Original source: Forbes
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Democracy, artful photography at work in Philly polling places

Wired Tuesday, November 09, 2010

It's a little bit cool, a little bit weird, but the varied polling places of Greater Philadelphia inspired photographer Ryan Donnell to create Behind the Curtain: The Philadelphia Polling Project, reports Wired.

The idea to record these unusual polling stations cropped up in 2006 in conversations between Donnell and his wife, who is the City Hall Reporter for the Philadelphia Daily News. They put the idea on ice for a couple of years while Donnell was getting out of the freelance game and building a commercial editorial photography business. When 2008 came around with its momentous sense of history, Donnell knew it was the right time.

"The Philadelphia Elections Board actually posts a list of all the polling stations and every place has a small description next to the address, such as 'Residence' or 'Storefront' or 'Water Department Laboratory,' says Donnell. "So I made a list of the weirdest sounding places, packed-up my Hassy, tripod and film in my car and basically just drove all over the city of Philadelphia for about 10 hours on Election Day. I've done that every election since November 2008."

Original source: Wired
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Alessi: Ethical and Radical opens at Phila. Museum of Art

ArtNow Magazine Tuesday, November 09, 2010

The world-renowned Italian manufacturer of designer household objects has long collaborated with top architects and designers, and the resulting artistic innovation is the subject of of a new exhibit at the Philadelphia Museum of Art, reports ArtNow Magazine.

On November 20, 2010, Alberto Alessi, President of the company and grandson of its founder Giovanni Alessi, will be honored at the Philadelphia Museum of Art with Collab's distinguished Design Excellence Award.

"The objects in this exhibition demonstrate the results of Alessi's unique, risk-taking approach to design and, consequently, how they blur the boundaries between industrial manufacturing and art," said Kathryn Hiesinger, Curator of Decorative Arts After 1700.

The exhibition is organized into two sections: family and factory history and a survey of past, present and future Alessi objects by collaborating designers, including the radical experimental projects Tea and Coffee Piazza of 1983 and Tea and Coffee Towers of 2003. The introductory section includes a map of the exhibition plan designed by Alessandro Mendini.

Original source: ArtNow Magazine
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Temple-rooted Stuzo acquired by Dachis Group, will remain in Philly

Technically Philly Tuesday, November 09, 2010

Fairmount-based Facebook app developer Stuzo was acquired by Dachis Group, an Austin, Texas social business consultancy, reports Technically Philly.

We're looking to bring on board more technical, project management, and account talent," said Pfau.

Stuzo started in 2005 as a platform for college students to trade textbooks and other goods at Temple University before pivoting to become one of the first developers on the Facebook Application platform.

The company began building apps like MyHeritage before focusing more on promotions for other brands like Coca-Cola and Proctor and Gamble, quickly becoming one of the largest Facebook development shops in the country.

Original source: Technically Philly
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Drexel's cross-genre duo Chiddy Bang gets hip hop love

HipHopDX Tuesday, November 02, 2010

South Philly bred Noah Beresin and Chidera Anamege, who met as Drexel University freshmen last year, get solid grades on their latest EP The Preview from HipHopDX.

Like many cross-genre duos, pinpointing your sound can be a daunting task, one that DXnext alumni Chiddy Bang seemed quite capable of pinning. When producer Noah "Xaphoon Jones" Beresin and rapper Chidera "Chiddy" Anemage joined forces at Drexel University and recorded their first mixtape The Swelly Express at school, it was a mishmash of sounds that somehow collectively fit. Rarely can anyone take MGMT and Tom Waits samples and still call it "Hip Hop" and mean it, but they did. After the mixtape sparked 100,000 in downloads and the group inked a world record deal with EMI, their recording budget clearly went up, but sadly their uniqueness went down. The Preview, an eight-track EP reflects the transition from using pots and pans to drum samples, pulling the raw talent that these two offered just a year ago.

That isn't to say this short EP is bad. It's actually quite good, with the introductory "The Good Life" serving as an excellent entrance into the project. Pharrell co-produced it with signature Neptunes swooshes and synths that fit the band so well that they could join the ranks of Star Trak (then again if they did that their album would never drop).

Original source: HipHopDX
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One man's sustainable one-man show proves inspiring

The (Colorado Springs) Gazette Tuesday, November 02, 2010

Philly theater guru Thaddeus Phillips brings Nikola Tesla to life in one-man show called Capsule 33, meant to spark ideas about sustainability, reports The (Colorado Springs) Gazette.

Few performers on the international theater circuit light up with the kind of alternative current that Phillips does. The '94 Colorado College graduate approaches each theatrical challenge like an off-center inventor.

Take "Capsule 33," a one-man show (created with his wife, Tatiana Mallarino) about a Serbian astrophysicist who becomes the last holdout in an odd Tokyo tower targeted for demolition. The play is about sustainability and the things, people and ideas we throw away.

"The whole show's sustainable," Phillips, 38, says with a mad glint in his eye, stalking around his set wearing a towel, a pipe wedged in his mouth. "We don't plug into the power grid at all. Everything is powered on those two little generators."

Original source: The (Colorado Springs) Gazette
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