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My exploration into meditation continues. I started on February 5th when I wrote the post Learning To Meditate. Since then, I’ve been practicing every day, read a few books on meditation, talked to a lot of people about it, and explored several iPhone / web apps.
The impact on me has been awesome.
After talking to Jerry Colonna for a few hours about meditation on the snowy Sunday after I started, he recommended I take a look at Headspace. I signed up that night and started doing the Take10 meditations. For the first few days, I did it once a day, but then quickly starting practicing twice a day, once in the morning and once before I went to bed. Occasionally I’d toss in another session at lunch time, although sometimes I just did a silent meditation instead for 10 to 15 minutes.
After about a week I was deeply hooked. I grabbed the iPhone GetSomeHeadspace app and untethered myself from my desk. We’ve got a meditation room in our new house and even though it’s very sparse right now (just one sitting pillow), it’s a magnificent sanctuary for my meditation.
I noticed that Andy Puddicombe, the founder of Headspace, had written a book called Get Some Headspace: How Mindfulness Can Change Your Life in Ten Minutes a Day. I downloaded it and read it last night and this morning. Since I’m deep into the Headspace program, a lot of it was familiar to me. But Andy’s description of his own meditation journey is fascinating, and reinforces a lot of things he guides you through in the Headspace program.
Near the end, he has a great chapter on different forms of meditation beyond sitting. He covers walking, sleeping, eating, and running. These are forms that intrigue me, especially since I run a lot, eat too fast, and am exploring different sleep patterns.
Overall, the book is a nice addition to the Headspace program. If you are intrigued about meditation, it’s a fast, easy, helpful read. But there’s nothing like just practicing. For that, I recommend you hop on line and try the free Headspace Take10 program.
As we gear up to release Uncommon Stock, our first FG Press book, we just had an internal discussion about book blurbs. The concept of a blurb was apparently invented in 1907. The origin story of the blurb is amusing – according to Wikipedia:
“The word blurb originated in 1907. American humorist Gelett Burgess’s short 1906 book Are You a Bromide? was presented in a limited edition to an annual trade association dinner. The custom at such events was to have a dust jacket promoting the work and with, as Burgess’ publisher B. W. Huebsch described it, ”the picture of a damsel — languishing, heroic, or coquettish — anyhow, a damsel on the jacket of every novel” In this case the jacket proclaimed “YES, this is a ‘BLURB’!” and the picture was of a (fictitious) young woman “Miss Belinda Blurb” shown calling out, described as “in the act of blurbing.”
While the history lesson is cute, the blurb has long since ceased to be useful. As a reader, I’m incredibly suspicious of them because as a writer, I know how they are manufactured. More on that in a bit, but for now, take a few minutes and check out some #HonestBlurbs.
Our internal back and forth on whether to include blurbs on our FG Press books resulted in the following rant from me.
I think endorsements like this are bullshit. I’m literally getting asked daily (5 times / week – sometimes more) to endorse books. I used to do it, now I say no unless it’s a friend, and even then they usually write the endorsement.
It’s an artifact of the publishing business that existed before “earned media” – blog posts, reviews, etc.
I’d love to just BLOW UP blurbs.
I think we should be focusing on real earned media, real reviews, real substantive support, rather than marketing nonsense the industry has been pushing since the early 1900s.
We had a little more back and forth but the more I thought about it, the more I have no interest in blurbs. I’ve been saying no to a lot of the requests I get recently, after having my name on probably 50 blurbs for other books in the last few years. At first, I always read the book before writing the blurb. Then, I started skimming the book before writing the blurb. Recently, I’ve been either asking the writer to send me a draft of the blurb they’d like, or I’ve just said something generically positive but non-substantive.
I’ve watched the other direction work the same way. It’s similar to press release quotes – it ends up being manufactured PR stuff, rather the authentic commentary. The idea that a static, short, manufactured blurb from a well known person as an endorsement of a book is so much less authentic than Amazon reviews, GoodReads, and blog posts from people who actually read the book.
When people send me a note that they liked my book, I ask them to put up a review on Amazon if they are game. When someone writes with constructive feedback on a book I’ve written, I ask them to put up a review on Amazon, with the constructive feedback, if they are game. I appreciate all the serious feedback – both good and bad. Sure – I get trolled by some people who say things like “Feld is a moron, this book is another stupid thing he’s done.” I ignore that kind of thing, and feel that most rational humans can separate the signal from the noise.
So, at least for now, we aren’t going to do blurbs on FG Press books. Instead, we’ll ask people to put up reviews on Amazon, GoodReads, their blog, and other sites that make sense. And, when someone requests a blurb from me, I’m going to start passing and defaulting to writing a review on this site and putting up the review on Amazon on GoodReads, like I have for many of the books I’ve read.
A few weeks ago a I wrote a post titled It’s Not Right vs. Left, It’s Old vs. New about the conflict between innovators and incumbents. As a society, we are just starting to wander into the real structural conflict around this and I don’t believe our government, either at the local, state, or federal level, really knows what to do about it, or how to effectively engage in it.
If you want a magnificent example of this, all you need to do is look at what’s going on with Bitcoin. Actually, you just need to read two relatively short “open letters” which appeared on the web this morning.
Now, read Fred Wilson from USV’s blog post A Letter To Senator Manchin where he explains how regulatory activity in the US is already inhibiting innovation around Bitcoin, rebuts Manchin’s perspective, and analogizes Bitcoin to the Internet.
It’s probably no surprise that I completely agree with Fred’s perspective.
For disclosure, I don’t have much of a financial stake in this game – I own slightly less than 20 Bitcoins (I’ve used fractions to buy some stuff), have no intention to be a Bitcoin trader (I don’t actively trade individual public company stocks or currencies either), and I don’t have a direct equity investment in any company around the Bitcoin ecosystem (although I have several investments in VC funds who do.) I originally bought the Bitcoins for the Coursera course Startup Engineering which I managed to get through the fourth week of before I couldn’t make enough time to keep up with it. I thought I’d bought 10 but was surprised to see a few months ago that I had 20.
While I don’t have a financial stake, I have a huge intellectual and emotional stake in this. Bitcoin is a fascinating innovation. It has the potential to transform a number of different things, where fiat currencies and payment mechanisms are merely two of them. As a computer science problem, Bitcoin is a fascinating one. And, as an innovation vector, it’s a great example of “new” in a world that is desperately trying to hold on to “old.”
We are going to have a very rocky road as a society over the next 40 years. As with every generational shift, there is a lot of disruption (the 1960′s immediately come to mind.) But the amount of change, pace of change, democratization of innovation and entrepreneurship, connectivity of communication around the world, and intellectual complexity of the new innovations being created will dwarf anything we’ve seen as a species since our first moments of sentience.
Bitcoin is just a visible 2014 example of this. As Fred says at the end of his post
“When something as new and as different as Bitcoin emerges, it is tempting to want to “put the Genie back into the bottle” and protect ourselves from it. But thankfully the US did not do that with the Internet. The impact of the commercial Internet on the US economy and our society as a whole has been massive and overwhelmingly positive over the past twenty years. We should approach Bitcoin in exactly the same way and if we do, I expect the benefits we will see will be equally important, impactful, and beneficial to our economy and our society.”
My message to all the incumbents out there is a simple one. The more you try to organize and control “the new”, the harder it is going to be on society. The new is going to route around things, just like the Internet routes around things. Rather than fight innovation, embrace it, encourage it, iterate on it, accept the mess of it, and play with it, rather than against it. It’s more fun and will serve us better in the long run.
Every year or so my partners and I at Foundry Group create a new company, or start a new project, that we believe had the potential to change the way something works in our world, while simultaneously helping the entrepreneurs we work with, and the entrepreneurs we aspire to work with.
For example, in 2006, we co-founded Techstars. At the time David Cohen, the co-founder and CEO, was unhappy with how angel investing worked. He was dissatisfied with his experience and had a hypothesis around helping a group of companies get going, surrounding them with active mentors, and accelerating their early growth. The Techstars Boulder 2007 program was an experiment – we had no idea if it would work. Looking back seven years later, I’m immensely proud and satisfied with the impact Techstars has had on the world of entrepreneurship, especially at the early stages of company creation, and look forward to our goal over the next seven years of building the most powerful and connected early stage startup network in the world.
Our 2014 project is FG Press.
I wrote my first book, Do More Faster, with David Cohen in 2010. We worked with our publisher Wiley, who took a chance on us. I had absolutely no idea what I was doing and it was really fucking hard. I remember sitting at my kitchen table in Homer, Alaska in July 2010 at 2am almost crying with frustration. I was just grinding through the last bit of it and the tedium of the process was overwhelming. I kept thinking “there has to be a better way” even back then, but there was something magical about holding the book in my hands in October 2010 when it came out.
In 2011, when my partner Jason Mendelson and I wrote my second back, Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist, I had figured out the writing drill, but I was still baffled by the publishing process. It was painful and tedious, and there were many steps along the way that made no sense. But I kept writing and learning.
In 2012 I thought hard about self-publishing everything I did going forward, but I didn’t feel like I completely grokked the publishing business yet. Venture Deals was a very successful book and Wiley increased their focus and attention on me. I had an expectation that somehow things would be different, better, more impactful, and more aligned, especially around process, promotion, and economics. So I decided to do four more books, which make up the Startup Revolution series, including the most recent one - Startup Boards: Getting the Most Out of Your Board of Directors (the third in the series) – which just came out. Along the way, my long time friend Matt Blumberg (CEO of Return Path) decided to write a book so we added it on to the Startup Revolution series, resulting in Startup CEO: A Field Guide To Scaling Up Your Business.
There’s a lot more history, which I’ll cover in later posts, but all of this led to a place in fall of 2013 where my partners and I at Foundry Group started having a discussion about doing something different around the book publishing industry. We all are extensive readers and believe the long-form book is something that is very valuable, especially ones like Venture Deals that we believe will have at least a 20 year relevance, assuming we continue to update it. We also think it should be easier for more people to write and produce high quality, useful long-form books. While we think the entire process and engagement model is completely broken, that leads us to the punchline of the thing that is really wrong.
The relationship between the reader and the author has an immense amount of friction in it. And that friction comes from the publisher. It’s not just that the economics are wrong (why should the economic split between publisher and author be – on average – 85% to the publisher and 15% to the author?) but that the publisher sits in between the author and the reader. Sure – industrious writers can build direct relationships with their readers around their publisher – which is what happens today, but that’s silly. Shouldn’t the publisher be in the business of helping facilitate these relationships in addition to theoretically curating and producing the content?
We spent a morning together one day talking about this stuff. We came up with a very long list of issues, like the ones above, and then put the key question on the table: “What should we do about this.” My response was “let’s start our own publishing company.” Hence FG Press.
As with all new ideas, we started looking for patterns in things in the world that we liked. If you are familiar with McSweeney’s, O’Reilly, or Granta, then you understand where our brains were going and some of the companies that inspire us. Ultimately, we realized that the optimal model for what we were doing was Techstars, specifically the Techstars of 2006.
If you are a fan of analogies, Techstars is to “angel investing before Techstars” as FG Press is to “traditional publishing.” We are running an experiment in the first year. The experiment involves anyone who wants to participate. We expect to learn a lot and iterate very rapidly on what we are doing. And we plan to share out ideas widely, as a way of open-sourcing our learning, engaging with other people working on similar problems, while taking an author and reader-centric point of view, in the same way that Techstars took an entrepreneur and mentor-centric point of view.
Like Techstars, this is a new entity. It has a full time co-founder/CEO (Dane McDonald), just like Techstars was co-founded and run by David Cohen. It’s a self-funded entity, just like Techstars was for the first two years. Our goal is that it’s deeply complementary and integrated into everything we do and our point of view about the world of entrepreneurship, as Techstars is.
Will make mistakes. We’ll learn a lot. We’ll have fun. We hope you’ll come along for the journey with us. If you want to get a feel for one of the characters from our first book, just follow Mara Winkel on Twitter. And we’ll take Bitcoin, once we get the damn software working right.
For the past 15 years, I’ve signed everything in green ink. I don’t remember how it started – it just did. I think I found a green Paper Mate felt tip pen that I liked and just started using it. So – if you have something from me signed in green, you know it’s an original. Otherwise it’s a copy or has an electronic signature.
About once a month I get a document back from a lawyer with the request to “please sign in blue ink.” I’ve always found that amusing, so I do.
This morning I wandered by my partner Jason’s office and told him about the regular, recurring requests to please sign in blue ink. He looked at me like I was from Mars, which might be true. I showed him the request. He said, “I don’t remember which class in law school taught that documents need to be signed in blue ink.”
Just a reminder that it takes a long, long time for archaic business practices to completely disappear. Fax machine anyone?