News Panel with William Quigley and Sean Percival #252

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On This Week in Startups, Google Drive, CISPA, VC philanthropy and Klout were among the hot topics in front of our panel of expert analysts--William Quigley, a managing partner with Clearstone Ventures, and Sean Percival, ex-Mahalo-er and founder of Wittlebee.

1:00-2:30 Welcome everyone, we have a great panel today with William Quigley of Clearstone Ventures.
2:30-3:30 Also with us in entrepreneur Sean Percival. Sean, how many angels were in your A round for Wittlebee?
3:30-5:30 Thank you so much to eMinutes for their support! Everyone tweet their thanks @eminutes and contact them if you’re an entrepreneur looking to incorporate!
5:30-7:30 Let’s start with Google Drive, the long-awaited file storage and syncing system. Will these new conveniences mean that people are switching over en masse from Dropbox?
7:30-9:45 William: When Dropbox started, there were a few competitors, but every VC I spoke to thought of it as a commodity.
9:45-10:45 Sean, you’re a Dropbox user, will this sway you to switch?
10:45-12;30 Why wouldn’t you give ever Apple user the 100 gig free iCloud?
12:30-14:45 William, would you put your money on Dropbox today? Would you invest?
14:45-16:30 Why doesn’t Amazon have a drive that’s free to prime users and you have all your movies and all your books in
16:30-20:15 The controversial CISPA act was passed by the House yesterday. The bill is designed to facilitate sharing of information between private companies and the government over supposed cyber-security threats. If this passes the Senate, do you think Obama will veto it?
20:15-23:00 William: Why would all these companies who pretend to be pro-user roll over to the government? Is it fear of lawsuit?
23:00-25:45 Thank you to Trada for sponsoring TWIST! If you’re looking for SEM experts, check out Trada!
25:45-30:45 The six general partners of Andreessen Horowitz have pledged to give at least half of their income from their VC careers to philanthropic causes. Will this help offset negative VC stereotypes? William, as a VC, what do you think of this?
30:45-33:30 William: At my firm, we’ve decided that the termsheet needs to be blown up.
33:30-36:30 A few years ago, Sequoia Capital was talking about the fact that their LPs are from all these nonprofits and foundations and the money they were earning was going back into those charitable organizations.
36:30-38:00 William: You hear that, if you’re born in the US, you’re part of the global 1%.
38:00-39:30 The so-called “Instagram for video” startup Viddy raised a $30M seed round. Are people using this because of the known success of Instagram?
39:30-41:00 Would you invest in that, at that valuation?
41:00-43:30 Sean: This company is growing because they’re gating on Facebook, but that could change. And I don’t want to watch videos on Facebook.
43:30-46:00 Jason: I’ve tried to re-engage with Facebook but I just can’t get into it.
46:00-48:45 Sean introduces the concept of SMES (Social Media Entitlement Syndrome).
48:45-50:00 Jason gives advice on how to game your Klout score.
50:00-51:45 Lon introduces everyone to Klouchebag.
51:45-53:15 There’s a rumor going around that Microsoft might be interested in unloading Bing. Is there any interest from Facebook as a buyer?
53:15-59:15 Will Google come to this same conclusion about Google+ and eventually try to sell it?
59:15-1:03:15 In a recent Groupon staff meeting, CEO Andrew Mason let it slip that he may need to stop drinking so much beer. Do you think his immaturity is an issue for the business?
1:03:15-1:05:00 William: We recently hired an exec away from Groupon because he said, I don’t foresee an equity event in the next few years.
1:05:00-1:06:45 When I became a VP at Myspace, I stopped going to happy hour. Jason, what do you think about drinking in front of employees?
1:06:45- I think people dog Andrew a little bit too much. I guarantee that if they went to Google or Facebook right now, they would buy Groupon in a heartbeat if they were selling.
1:10:00-1:10:15 Thank you for tuning in everyone. And thank you to our friends at Trada and eMinutes for their support!
1:10:15-1:11:00 Sean, what’s the cost for Wittlebee? Everyone check it out at wittlebee.com.
1:11:00-1:11:3- William, thank you so much for coming on today and sharing your expertise. Same to you Lon, everyone check out Ranker.com. We'll see you next time!

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FOLLOW ON TWITTER
Jason: @jason
Tyler: @steepdecline
Lon: @lons
William: @quigleyreport
Sean: @percival
Trada: @trada
eMinutes: @eminutes

Special thanks to the members of the TWiST Backchannel Program!

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