As I crossed into the new year, and now in planning for 2007, one area where I have to really put some effort into is with American Airlines.
Following my time at Yahoo!, I remained with Yahoo’s preferred air carrier, American Airlines so that I could continue accruing miles and status on the airline where I had the most miles. After I left Yahoo!, I proceeded to try to redefine my life and went to NYC quite a bit, which elevated me to Executive Platinum status. The best perk about Executive Platinum is automatic upgrades to Business Class when they are available. Oh man! What a perk!
I usually take the redeye on my way to NYC so as not to lose a day there. If you’ve ever tried to sleep in coach, it sucks so bad. The airlines are never going to have enough money to remodel their planes. They’re just going to leave them the way they are, to the detriment of all air travelers and their bodies. Add to that my triathlon training regimen and now it’s doubly worse. Upgrading to Business Class and their much better seats – recline further, better cushions – means I am much more comfortable on those overnight flights.
Have you looked at how much they charge for Business Class? For the cheapest coach from LAX to JFK, it is about $350. For Business Class, it is a whopping $3300! Way too much!
Executive Platinum status has become a necessity not only for my body but for my wallet.
Last year, December rolled around and I realized…I WOULD FALL SHORT OF THE 100K MILES to qualify! I panicked! But I also found out one crucial thing. That was certain flght classes would only get 50% of the mileage applied to Executive Platinum qualification! I spent a whole year traveling not knowing this. By the way, the classes that do give 100% of the miles applied to Executive Platinum qualification are K, L, M, V, H, and W. Every other one is a discounted class and gives you only 50%.
First I go to the website and I realize the website doesn’t give you the ability to have that fine a control over what classes you can buy into. You can only get the cheapest fare, or by major flight class, Coach, Business, or First. If you go ask for Business Class, you’ll get the $3000+ fare. If you ask for Coach, you get the cheapest fare but only 50% applied to Executive Platinum qualification. You hit the “with restrictions” radio button, and you get ridiculous fare quotes of $1000+.
Calling up the Executive Platinum is better. I ask them to change all my flights to 100% mile qualification classes and we sit there for about 30 minutes going through my remaining 2006 flights and switching classes. I gladly pay the extra fees, and in some cases, I actually get money back! But setting all of them to the full mileage qualification classes means I squeak into qualification at approximately 105,000 miles by December 31.
This year, I looked at my travel and realized that I wouldn’t make it on miles alone. Now I have to book flights through the Executive Platinum desk and ask specifically for those flight classes. This is tricky because I need to keep pushing them on lower prices. The first time I did it the person came back with a $1500 fare; I asked for a lower fare and it dropped to $560. I also stopped flying Southwest and fly American Eagle on short hops to attempt to qualify on the 100 segments flown in a year.
I don’t think I could do this travel without Executive Platinum status. It’s too taxing without the automatic upgrade. I may pay a little more for fares, but the automatic upgrades to Business Class make it worth the extra bucks I pay over the cheapest coach fares.
Meetro in San Francisco Digs 1-2007
Fully moved from their Palo Alto apartment, they are now in true gritty San Francisco offices.
![]() |
![]() |
![]() |
![]() |
Nice exposed brick on the walls, IKEA furniture all around. The CEO sometimes sits in the conference room in the corner where it is nice and quiet and dark.
FanLib Burlingame Office 1-2007
Newly moved into their Burlingame office. Small and compact, as befits a startup!
Yes I’m in the right place…
Hmm…maybe I’m not…
Not much here, just raw computing power!
Don’t Need to be Lead Investor to Affect Terms?
As I started angel investing into startups, I began realizing that the amount I was investing gave me virtually no leverage to affect terms. The largest investor typically has the most power to affect terms, since the entrepreneur wants their money the most. They are more likely to negotiate and do what that investor wants than other small fry…like me.
One goal I have is to take the cash I set aside now and try to build it over the next few years to a point where I could be lead investor and really affect terms. This usually starts happening at around a $250,000 or more investment.
But I did find one place where I could actually affect terms without requiring large sums of money. First, I asked my lawyer to draft an example Series A term sheet. I also asked him to make the terms balanced towards investor and the company. This was an important point; many times now, I have seen investments go much quicker when the terms were more balanced. This is even true with my advisor agreement, which is neither overly advantageous towards me or the company. It reduces negotiation, and thus legal fees and time – both of which are desirable.
Second, I start advising these companies very early, even pre-incorporation. I help them in the process of defining their fund raising strategy, and give them my sample Series A term sheet. They love that. Otherwise, they would have to get it from their lawyer and that would cost extra cash. Instead, they present that to their lawyer who reviews it and is usually agreeable on basing their actual term sheet off mine. it would cost them extra cash to alter it later to the requests of potential investors, as well as costing money to go over it with their legal help to understand it all.
This is good because now I have a fair, balanced term sheet which I am investing in, rather than something created by the legal support. Given that most entrepreneurs are new to the fund aspect, and the fact that lawyers will most likely default to a company friendly term sheet to protect their client, being aggressive at presenting a sample term sheet which is balanced provides an opportunity to create a situation where I can actually affect terms and not be the lead investor.
Comments Back Up, Movable Type was hosed
OK Comments are back up. My MT DB got hosed and I had to export everything and start using MySQL for the DB to help prevent future problems. Let me know if you see any issues…thanks for your patience!
Comments Busted
Sorry everyone. My comments DB is messed up. Let me try to fix this before anyone tries to post a comment…Thanks for your patience!
The Legends are True! Raising Funds on Powerpoints
Well, I finally saw it myself. Two friends of mine just raised venture capital for their startups on…a POWERPOINT.
Before this time, it was by rumor that I heard people were walking in with ideas and getting funding. No company, no corporation, no IP, no technology…nuthin! But getting $1MM to $4MM committed. And the rest of the world struggled along with their business plans and prototypes…
I tried to quantify what made these two people unique. Here are some thoughts:
1. They are both very persuasive presenters. Very good at pitching their ideas.
2. They were well-known to the venture fund. Both people had fund partners begging them to start something…anything…so they could fund it.
3. They had decent track records.
4. Both had high integrity, so trust is a factor. They were also very realistic about their prospects and didn’t oversell or overcommit.
5. Both could attract talent amazingly well. While everyone else was struggling to hire, these two got committed employees with no company existing! So they were well-known and trusted to the people they got on board.
6. Of course their ideas were pretty damn good too. They were presented as very well thought out ideas and with an answer for all tough questions.
Sorry Microsoft, but I don’t think Powerpoint had anything to do with their success. Too bad if that was all someone needed was advanced presentation software to get funding…!
Interesting Pictures Navigation: Asia Grace
Something about this pictures navigation really appeals to me:
Asia Grace
It allows a hierarchical drill down into images. I like the rollover feedback of selection by outlining. I can see many applications of this technique on other sites.
The New Holiday Card…through SMS!
This year I got my share of snail mail holiday cards and a smattering of e-mail e-cards. But this was the first year I got 2 SMS holiday cards!
They said:
Merry christmas! 🙂
– from J.
All the best wishes for a happy and healthy 2007! :-*
– from V., A., and J.
Maybe you don’t think it’s a big deal, but for me, it’s just another milestone in SMS coming into its own in the U.S.
These SMS greetings are:
Easy to create – just type it out on your phone and no messing around with graphics.
Immediate – they aren’t sent to your e-mail, but you get it on your phone which you probably have on or near you right now.
Easy to send – my phone has almost all my friends on it, which is the list of people I really wanted to send some sort of greeting to anyways. And, it has a nice interface to send mass SMSes to everyone in my phone book.
Perhaps it’s just a matter of time before someone thinks of creating an MMS based greeting card service?
Teaching and Learning Responsibility and Consequences in the Age of the Internet
Today, the headlines wrote that Miss Nevada in the Miss America competition would be replaced by another, on the revealing of exposed breast pictures and other ‘deemed inappropriate’ acts several years ago as a teenager. Apparently, a friend had taken those shots and then posted them on the Internet. Consequently, they were discovered and Miss Nevada was disqualified and the honor given to the next in line. She is realizing firsthand the dangers of actions which happened years ago coupled with the openness of the Web.
The Internet has become a place for free expression but fraught with unexpected consequences for those we express without restraint or forethought. We are in a transitional generation learning with trial by fire (or error) and missteps on what the Internet can do and what dangers it can represent.
Prior to the Internet, our society’s private information was very much protected by the lack of technology and by physical barriers. We never had to worry about people seeing our pictures because they just sat in old shoe boxes or albums and nobody could see them except those whom you wanted to. Our personal information was our own; what we did in our bedrooms, closets, and homes never had webcams focused on them or digital phone cams to send to others.
With the emergence of sharing tools in technology and on the Internet, it was now possible to take all that information and put it out there, often times simply because someone asked for it, or because we thought it would be funny….for the moment. Somehow in our naviete we thought that we could put it out there, it would do its thing, making someone laugh, or be just a passing comment on a post or instant message, and then we forgot about it, thinking it be lost in the masses of information on the Web.
The Web sometimes loses things, but most of the time it does not disappear. Search engines make finding things easier. We all get googled now before we meet people just to see what we can learn about them before we meet them. Information is archived on sites because every page a site has means more page loads for ads to be shown on. It doesn’t make sense for Web companies to blow old information away. Text gets saved and copied, and re-pasted or quoted somewhere else. Pictures and videos are saved and re-posted. Even if you think your picture is deleted in one place, someone else may have saved it for their own use and it may re-emerge.
So now it’s not our own naviete but the responsibility of others both close to you and not. Even if you don’t post something, someone else could. Embarassing pictures taken at an office party get posted to your favorite blog; your drunken actions at a frat party re-emerge to make you lose a job offer years later. The news is filled with instances where everyone is getting googled and embarassing information surfaces about that person that pre-Internet would never have been found, like to the detriment of Miss Nevada.
Openness is good and to the extent we can find out more about the people around us is probably positive in the long run. But for us, in the transitional generation, we have not done well enough in teaching our youth or ourselves about the dangers of posting text, pictures, and video on to the Net and the future ramifications of doing so. We need to do better in knowing that we need to think more carefully before we act impetuously in hitting the enter key. And that sometimes, our actions not only affect ourselves but others as well.
My hope is that our educational resources will add materials about the positive and negative aspects of posting to the Internet as soon as possible to their curricula. And for us, who are out there with our school days behind us, I hope that we can just pause a moment before we hit that enter key and think on whether sending that file or post is really the right thing to do, even if it is funny in the moment.