Jason Calacanis : The older I get the more I realize that business is about three very basic things: 1. Hustle 2. Passion 3. Resiliency You have those things it really doesn’t matter what the idea is… you can change your ideas all day long, in fact evolving is what you’re supposed to do in business. However, you can’t substitute hustle, passion, or resiliency.

Does VC foster innovation? Should be, right? Wrong says this article in Spectrum. An analysis of a decade long of IPOs on Nasqaq and NewYork stock exchange seem to be telling a different story. The analysis shows that the innovative technologies that hit the market were less VC driven. The reasons mentioned for VCs lack of a bigger role in innovation are: A venture fund has a life cycle and investments in various firms are driven by the life cycle rather than the technology perse VCs act as businesspeople, even when they have technical background VCs cannot distinguish between smart and lucky VCs synch investments to business cycles A key challenge mentioned facing the VC Industry is :

I stumbled upon an interesting 3D Online game which goes by the name secondlife.com.By the time I gathered a little information , the facts about the site seemed stunning.Firstly, it was started in June 04 and has since risen in popularity not only among the game developers but also among quite a variety of people. At the first instance, it looks like an open source game development site where the environment is faciliated by secondlife folks.

With the huge popularity of Google maps, it is but obvious that google will try to leverage it to other services. Here they come up with the first ancillary service Google Ride Finder. It helps one to find out the nearest cab and the phone number of the cab operator.

Dr Gershenfeld of MIT has invented a technology called “fab labs” which will enable manufacturing to reach large masses who lack formal education and resources to manufacture stuff. Is this a scenario of plumbing services being made available in the Long Tail ? Looks like it.