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	<title>BlogJunkies</title>
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	<pubDate>Fri, 10 Oct 2008 08:35:00 +0000</pubDate>
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		<title>ATM skimmers: now with SMS notification built right in</title>
		<link>http://www.blogjunkies.com/10/10/2008/atm-skimmers-now-with-sms-notification-built-right-in/</link>
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		<pubDate>Fri, 10 Oct 2008 08:35:00 +0000</pubDate>
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		<description><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/gadgets/" rel="tag">Misc. Gadgets</a></p><a href="http://blogs.zdnet.com/security/?p=2000"><img vspace="16" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/10-9-08-atm-skimmer-sms.jpg" alt="" /></a>Aw, how convenient! Now, when you purchase your next ATM skimmer, you don't even have to risk being arrested when you wander out to retrieve it. For those outside of the know, an ATM skimmer sits on credit / debit card machines and swipes information as unsuspecting civilians <a href="http://www.engadget.com/2005/12/05/poll-should-i-use-my-new-blink-card/2">pass their cards through</a>. In the days of old, scammers would have to physically retrieve the skimmer in order to acquire all that precious information; now, models with built-in SMS notification are becoming available, meaning that numbers, expiration dates and that easy-to-forget three digit code on the back can be shot out instantly after the data is snatched. Word on the street has these devices going for $8,500 a pop, and they can dish out around 2,000 texts. Just another <a href="http://www.engadget.com/2006/11/15/manchester-man-uses-dap-to-siphon-cash-from-atms/">zany</a> <a href="http://www.engadget.com/2005/03/29/beware-phony-atm-facades/">hack</a> to be <a href="http://www.engadget.com/2007/02/07/chip-and-pin-tetris-hackers-can-steal-credit-card-info-too/">aware of</a> in the <a href="http://www.engadget.com/2007/08/21/stanfords-eyepassword-helps-fight-shoulder-surfing-at-the-atm/">wide world</a> of <a href="http://www.engadget.com/2008/04/22/thieves-use-eeepc-in-brazilian-atm-scam/">ATM shenanigans</a>.<br /><br />[Via <a href="http://hackaday.com/2008/10/07/scammers-introduce-atm-skimmers-with-built-in-sms-notification/">Hack-A-Day</a>]<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://blogs.zdnet.com/security/?p=2000>Read</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/atm-skimmers-now-with-sms-notification-built-right-in/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&#160;&#124;&#160;<a href="http://www.engadget.com/forward/1337386/" title="Send this entry to a friend via email">Email this</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/atm-skimmers-now-with-sms-notification-built-right-in/#comments" title="View reader comments on this entry">Comments</a>
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			<content:encoded><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/gadgets/" rel="tag">Misc. Gadgets</a></p><a href="http://blogs.zdnet.com/security/?p=2000"><img vspace="16" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/10-9-08-atm-skimmer-sms.jpg" alt="" /></a>Aw, how convenient! Now, when you purchase your next ATM skimmer, you don't even have to risk being arrested when you wander out to retrieve it. For those outside of the know, an ATM skimmer sits on credit / debit card machines and swipes information as unsuspecting civilians <a href="http://www.engadget.com/2005/12/05/poll-should-i-use-my-new-blink-card/2">pass their cards through</a>. In the days of old, scammers would have to physically retrieve the skimmer in order to acquire all that precious information; now, models with built-in SMS notification are becoming available, meaning that numbers, expiration dates and that easy-to-forget three digit code on the back can be shot out instantly after the data is snatched. Word on the street has these devices going for $8,500 a pop, and they can dish out around 2,000 texts. Just another <a href="http://www.engadget.com/2006/11/15/manchester-man-uses-dap-to-siphon-cash-from-atms/">zany</a> <a href="http://www.engadget.com/2005/03/29/beware-phony-atm-facades/">hack</a> to be <a href="http://www.engadget.com/2007/02/07/chip-and-pin-tetris-hackers-can-steal-credit-card-info-too/">aware of</a> in the <a href="http://www.engadget.com/2007/08/21/stanfords-eyepassword-helps-fight-shoulder-surfing-at-the-atm/">wide world</a> of <a href="http://www.engadget.com/2008/04/22/thieves-use-eeepc-in-brazilian-atm-scam/">ATM shenanigans</a>.<br /><br />[Via <a href="http://hackaday.com/2008/10/07/scammers-introduce-atm-skimmers-with-built-in-sms-notification/">Hack-A-Day</a>]<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://blogs.zdnet.com/security/?p=2000>Read</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/atm-skimmers-now-with-sms-notification-built-right-in/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/forward/1337386/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/atm-skimmers-now-with-sms-notification-built-right-in/#comments" title="View reader comments on this entry">Comments</a>
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		<title>Amazing Dolphin Rescue Attempt Caught on Video</title>
		<link>http://www.blogjunkies.com/10/10/2008/amazing-dolphin-rescue-attempt-caught-on-video/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/amazing-dolphin-rescue-attempt-caught-on-video/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 08:22:35 +0000</pubDate>
		<dc:creator>Blog Junkies</dc:creator>
		
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The <a href="http://www.icrwhale.org/eng-index.htm">Institute of Cetacean Research</a> caught this amazing scene on film while doing research on whales in the Sea of Japan. At the risk of anthropomorphizing, it is difficult not to share the pain of this pod of dolphins as they seek in va...
<p><a href="http://feeds.treehugger.com/~a/treehuggersite?a=tAh4lz"><img src="http://feeds.treehugger.com/~a/treehuggersite?i=tAh4lz" border="0"></img></a></p><div class="feedflare">
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The <a href="http://www.icrwhale.org/eng-index.htm">Institute of Cetacean Research</a> caught this amazing scene on film while doing research on whales in the Sea of Japan. At the risk of anthropomorphizing, it is difficult not to share the pain of this pod of dolphins as they seek in va...
<p><a href="http://feeds.treehugger.com/~a/treehuggersite?a=tAh4lz"><img src="http://feeds.treehugger.com/~a/treehuggersite?i=tAh4lz" border="0"></img></a></p><div class="feedflare">
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		<title>More quotes by Michael Braungart: We are not too many, just stupid.</title>
		<link>http://www.blogjunkies.com/10/10/2008/more-quotes-by-michael-braungart-we-are-not-too-many-just-stupid/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/more-quotes-by-michael-braungart-we-are-not-too-many-just-stupid/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 08:18:55 +0000</pubDate>
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Yesterday we posted about the <a href="http://www.treehugger.com/files/2008/10/global-eco-forum-michael-braungart-gunter-pauli.php">Global Eco-Forum</a>, an event about responsibility, sustainability and eco-innovation, held this week in Barcelona, Spain, organised by the local group <a href="http://www.eco-union.org">Eco-Union</a>. The conference held interesting debates by Gunter Pauli from the Zeri Foundation, Francesco Tonucci from The City of Children project, sustainable architect Livia Tirone and many others you can read about in <a href="http://www.treehugger.com/files/2008/10/global-eco-forum-michael-braungart-gunte...
<p><a href="http://feeds.treehugger.com/~a/treehuggersite?a=XBcp2Q"><img src="http://feeds.treehugger.com/~a/treehuggersite?i=XBcp2Q" border="0"></img></a></p><div class="feedflare">
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			<content:encoded><![CDATA[<img alt="Michael Braungart and Gunter Pauli at Global Eco-Forum photo" src="http://www.treehugger.com/michael-braungart-gunter-pauli.jpg" width="468" height="381" />

Yesterday we posted about the <a href="http://www.treehugger.com/files/2008/10/global-eco-forum-michael-braungart-gunter-pauli.php">Global Eco-Forum</a>, an event about responsibility, sustainability and eco-innovation, held this week in Barcelona, Spain, organised by the local group <a href="http://www.eco-union.org">Eco-Union</a>. The conference held interesting debates by Gunter Pauli from the Zeri Foundation, Francesco Tonucci from The City of Children project, sustainable architect Livia Tirone and many others you can read about in <a href="http://www.treehugger.com/files/2008/10/global-eco-forum-michael-braungart-gunte...
<p><a href="http://feeds.treehugger.com/~a/treehuggersite?a=XBcp2Q"><img src="http://feeds.treehugger.com/~a/treehuggersite?i=XBcp2Q" border="0"></img></a></p><div class="feedflare">
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		<title>Zoho Mail Gets Offline Support via Google Gears - Ahead of Gmail</title>
		<link>http://www.blogjunkies.com/10/10/2008/zoho-mail-gets-offline-support-via-google-gears-ahead-of-gmail/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/zoho-mail-gets-offline-support-via-google-gears-ahead-of-gmail/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 08:13:15 +0000</pubDate>
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		<description><![CDATA[<p><img src="http://www.readwriteweb.com/images/zoho_mail_logo.jpg" />Innovative Web Office startup <a href="http://www.zoho.com">Zoho</a> has beaten Google to the punch again, announcing offline support for the newly public <a href="http://mail.zoho.com/">Zoho Mail</a> tonight. Ironically Zoho is using Google Gears to enable offline functionality in Zoho Mail - see the video below by the Google Developer team. Zoho also beat Google to offline support in online word processing, again using Gears, by launching that functionality <a href="http://www.readwriteweb.com/archives/zoho_on_gears.php">in November 2007</a>. Google followed up with offline support for Google Docs at <a href="http://www.readwriteweb.com/archives/google_docs_offline_support.php">the end of March 2008</a>.</p>
<p align="right"><em>Sponsor</em><br /><a href='http://d.openx.org/ck.php?n=12128&#38;cb=12128' target='_blank'><img src='http://d.openx.org/avw.php?zoneid=861&#38;cb=12128&#38;n=12128' border='0' alt='' align="right" /></a></p>

<p><a href="http://www.readwriteweb.com/archives/google_gears_coming_to_gmail.php">We wrote in July</a> about speculation that Google will start rolling out offline support for both Gmail and Google Calendar through Google Gears within the next six weeks. Didn't happen. </p>

<p>However Yahoo Mail did come up with offline functionality in July - it gave <a href="http://www.readwriteweb.com/archives/yahoo_imap_zimbra_desktop.php">offline access to all free and paid Yahoo Mail</a> users through the Yahoo Zimbra Desktop. Earlier this week Yahoo announced further Zimbra integration, this time <a href="http://www.readwriteweb.com/archives/yahoo_integrates_calendar_into.php">with its Calendar app</a>.</p>

<p>So Google is well and truly behind the times with offline support for web mail. However the Google white coats are having a fine old time tinkering with mail stuff in their labs - tonight Google Labs announced <a href="http://gmailblog.blogspot.com/2008/10/new-in-labs-advanced-imap-controls.html">Advanced IMAP Controls</a>, which lets you "fine-tune your Gmail IMAP experience." </p>

<p>To be fair, Google probably isn't worried about Zoho coming out with offline functionality in its mail product before Gmail has. For one thing Google is so big it can afford to wait until it's good and ready, despite Gmail fans yearning for offline support! But also Google probably sees Zoho less as a competitor at this point (even though Zoho does <a href="http://www.readwriteweb.com/archives/zoho_the_little_engine_that_could.php">compete directly against Google Apps</a>) and more as an evangelist for its technology - such as Google Gears.</p>

<p>To access mail offline in Zoho Mail, you'll need Google Gears installed on your browser - at this point IE and Firefox are supported. Chrome and Safari support is coming. According to <a href="http://writer.zoho.com/corporate/mailzoho.com/raju/Zoho-Mail-Offline">Zoho's blog</a>, you can also download images and attachments in offline mode. Another cool feature is that Zoho Mail automatically detects your connectivity and switches to online/offline modes.</p>

<p>Here is the video, also available on <a href="http://google-code-updates.blogspot.com/2008/10/zoho-mail-goes-offline-with-gears.html">Google Code blog</a>:</p>

<p><object   height="344" width="425"><param name="movie" value="http://www.youtube.com/v/mDG4w96RePo&#38;hl=en&#38;fs=1"  ><param name="allowFullScreen" value="true"  ><embed allowfullscreen="true" src="http://www.youtube.com/v/mDG4w96RePo&#38;hl=en&#38;fs=1" type="application/x-shockwave-flash"   height="344" width="425"></object></p>
<strong><a href="http://www.readwriteweb.com/archives/zoho_mail_gets_offline_support.php#comments-open">Discuss</a></strong>
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			<content:encoded><![CDATA[<p><img src="http://www.readwriteweb.com/images/zoho_mail_logo.jpg" />Innovative Web Office startup <a href="http://www.zoho.com">Zoho</a> has beaten Google to the punch again, announcing offline support for the newly public <a href="http://mail.zoho.com/">Zoho Mail</a> tonight. Ironically Zoho is using Google Gears to enable offline functionality in Zoho Mail - see the video below by the Google Developer team. Zoho also beat Google to offline support in online word processing, again using Gears, by launching that functionality <a href="http://www.readwriteweb.com/archives/zoho_on_gears.php">in November 2007</a>. Google followed up with offline support for Google Docs at <a href="http://www.readwriteweb.com/archives/google_docs_offline_support.php">the end of March 2008</a>.</p>
<p align="right"><em>Sponsor</em><br /><a href='http://d.openx.org/ck.php?n=12128&amp;cb=12128' ><img src='http://d.openx.org/avw.php?zoneid=861&amp;cb=12128&amp;n=12128' border='0' alt='' align="right" /></a></p>

<p><a href="http://www.readwriteweb.com/archives/google_gears_coming_to_gmail.php">We wrote in July</a> about speculation that Google will start rolling out offline support for both Gmail and Google Calendar through Google Gears within the next six weeks. Didn't happen. </p>

<p>However Yahoo Mail did come up with offline functionality in July - it gave <a href="http://www.readwriteweb.com/archives/yahoo_imap_zimbra_desktop.php">offline access to all free and paid Yahoo Mail</a> users through the Yahoo Zimbra Desktop. Earlier this week Yahoo announced further Zimbra integration, this time <a href="http://www.readwriteweb.com/archives/yahoo_integrates_calendar_into.php">with its Calendar app</a>.</p>

<p>So Google is well and truly behind the times with offline support for web mail. However the Google white coats are having a fine old time tinkering with mail stuff in their labs - tonight Google Labs announced <a href="http://gmailblog.blogspot.com/2008/10/new-in-labs-advanced-imap-controls.html">Advanced IMAP Controls</a>, which lets you "fine-tune your Gmail IMAP experience." </p>

<p>To be fair, Google probably isn't worried about Zoho coming out with offline functionality in its mail product before Gmail has. For one thing Google is so big it can afford to wait until it's good and ready, despite Gmail fans yearning for offline support! But also Google probably sees Zoho less as a competitor at this point (even though Zoho does <a href="http://www.readwriteweb.com/archives/zoho_the_little_engine_that_could.php">compete directly against Google Apps</a>) and more as an evangelist for its technology - such as Google Gears.</p>

<p>To access mail offline in Zoho Mail, you'll need Google Gears installed on your browser - at this point IE and Firefox are supported. Chrome and Safari support is coming. According to <a href="http://writer.zoho.com/corporate/mailzoho.com/raju/Zoho-Mail-Offline">Zoho's blog</a>, you can also download images and attachments in offline mode. Another cool feature is that Zoho Mail automatically detects your connectivity and switches to online/offline modes.</p>

<p>Here is the video, also available on <a href="http://google-code-updates.blogspot.com/2008/10/zoho-mail-goes-offline-with-gears.html">Google Code blog</a>:</p>

<p><object   height="344" width="425"><param name="movie" value="http://www.youtube.com/v/mDG4w96RePo&amp;hl=en&amp;fs=1"  ><param name="allowFullScreen" value="true"  ><embed allowfullscreen="true" src="http://www.youtube.com/v/mDG4w96RePo&amp;hl=en&amp;fs=1" type="application/x-shockwave-flash"   height="344" width="425"></object></p>
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		<title>BlackBerry Curve 8900 get early video praise, T-Mobile Germany says November</title>
		<link>http://www.blogjunkies.com/10/10/2008/blackberry-curve-8900-get-early-video-praise-t-mobile-germany-says-november/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/blackberry-curve-8900-get-early-video-praise-t-mobile-germany-says-november/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 07:28:00 +0000</pubDate>
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		<description><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/cellphones/" rel="tag">Cellphones</a>, <a href="http://www.engadget.com/category/handhelds/" rel="tag">Handhelds</a></p><div style="text-align: center;"><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.engadgetmobile.com/media/2008/10/blackberry-curve-8900-crackberry-video.jpg" alt="" /><br /></div>
Just when we're all geared up to get crazy corporate with a bunch of <a href="http://www.engadgetmobile.com/tag/Bold/">Bold</a> purchases, RIM has to go and make our lives difficult by reminding us that the <a href="http://www.engadgetmobile.com/tag/javelin">Javelin / Curve 8900</a> is out there -- lurking -- just waiting to make a grand entrance sometime in the next few months. A new video posted to CrackBerry goes through the 8900's finer points, noting that the handset clocks in just a bit more compact than its big brother, features a slightly smaller, higher dot pitch display, and carries over an original Curve-style keyboard with spaced keys rather than the flowing design employed on the Bold (for what it's worth, the narrator seems to like both styles equally). Interestingly, it's noted that this prototype employs an older trackball design that'll allegedly be replaced with a more bulletproof design by the time it launches. The lack of 3G is going to be a dream killer for many, but we could see this one getting some retail legs underneath it if the price is right -- it's got WiFi, after all.<br /><br />In fact, T-Mobile Germany is saying that it'll have the 8900 next month -- a claim we actually believe, since Germany is from the future. The trackball shown on its version of the handset is distinctly different than CrackBerry's, so it's looking like the claim of a redesign might hold water.<br /><br />[Thanks, Alex]<br /><br /><a href="http://translate.google.com/translate?u=http%3A%2F%2Fwww.t-mobile.de%2Fshop%2Fhandy%2F0%2C4855%2C2963-_10108-0-1-0%2C00.html">Read</a> - CrackBerry's Curve 8900 hands-on video<br /><a href="http://www.t-mobile.de/shop/handy/0,4855,2963-_10108-0-1-0,00.html">Read</a> - T-Mobile Germany's Curve 8900 product page<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/10/blackberry-curve-8900-get-early-video-praise/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&#160;&#124;&#160;<a href="http://www.engadget.com/forward/1338308/" title="Send this entry to a friend via email">Email this</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/blackberry-curve-8900-get-early-video-praise/#comments" title="View reader comments on this entry">Comments</a>
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			<content:encoded><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/cellphones/" rel="tag">Cellphones</a>, <a href="http://www.engadget.com/category/handhelds/" rel="tag">Handhelds</a></p><div ><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.engadgetmobile.com/media/2008/10/blackberry-curve-8900-crackberry-video.jpg" alt="" /><br /></div>
Just when we're all geared up to get crazy corporate with a bunch of <a href="http://www.engadgetmobile.com/tag/Bold/">Bold</a> purchases, RIM has to go and make our lives difficult by reminding us that the <a href="http://www.engadgetmobile.com/tag/javelin">Javelin / Curve 8900</a> is out there -- lurking -- just waiting to make a grand entrance sometime in the next few months. A new video posted to CrackBerry goes through the 8900's finer points, noting that the handset clocks in just a bit more compact than its big brother, features a slightly smaller, higher dot pitch display, and carries over an original Curve-style keyboard with spaced keys rather than the flowing design employed on the Bold (for what it's worth, the narrator seems to like both styles equally). Interestingly, it's noted that this prototype employs an older trackball design that'll allegedly be replaced with a more bulletproof design by the time it launches. The lack of 3G is going to be a dream killer for many, but we could see this one getting some retail legs underneath it if the price is right -- it's got WiFi, after all.<br /><br />In fact, T-Mobile Germany is saying that it'll have the 8900 next month -- a claim we actually believe, since Germany is from the future. The trackball shown on its version of the handset is distinctly different than CrackBerry's, so it's looking like the claim of a redesign might hold water.<br /><br />[Thanks, Alex]<br /><br /><a href="http://translate.google.com/translate?u=http%3A%2F%2Fwww.t-mobile.de%2Fshop%2Fhandy%2F0%2C4855%2C2963-_10108-0-1-0%2C00.html">Read</a> - CrackBerry's Curve 8900 hands-on video<br /><a href="http://www.t-mobile.de/shop/handy/0,4855,2963-_10108-0-1-0,00.html">Read</a> - T-Mobile Germany's Curve 8900 product page<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/10/blackberry-curve-8900-get-early-video-praise/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/forward/1338308/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/blackberry-curve-8900-get-early-video-praise/#comments" title="View reader comments on this entry">Comments</a>
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		<title>DEOS offers up $60,000 diamond-encrusted iPod earphone covers</title>
		<link>http://www.blogjunkies.com/10/10/2008/deos-offers-up-60000-diamond-encrusted-ipod-earphone-covers/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/deos-offers-up-60000-diamond-encrusted-ipod-earphone-covers/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 06:41:00 +0000</pubDate>
		<dc:creator>Blog Junkies</dc:creator>
		
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		<description><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/portableaudio/" rel="tag">Portable Audio</a></p><div align="center"><a href="http://www.moodiereport.com/document.php?c_id=34&#38;doc_id=18805"><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/deos-diamond-earphones.jpg" alt="" /></a><br />
<div align="left">Yes, you read that right, <em>covers</em>. As in, $60,000 of diamonds that clip onto a standard issue pair of iPod earphones. If the economic hard times are really hitting you hard, you can also opt for a $4,500 set encrusted with black or white diamonds, or even a set covered with the ever-popular multi-colored <a href="http://www.engadget.com/tag/Swarovski">Swarovski crystals</a> -- a veritable bargain at just $110.<br /><br />[Via <a href="http://www.musicradar.com/news/tech/diamond-encrusted-ipod-earphone-covers-cost-60k-176709">musicradar.com</a>]<br /></div>
</div><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.moodiereport.com/document.php?c_id=34&#38;doc_id=18805>Read</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/deos-offers-up-60-000-diamond-encrusted-ipod-earphone-covers/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&#160;&#124;&#160;<a href="http://www.engadget.com/forward/1337965/" title="Send this entry to a friend via email">Email this</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/deos-offers-up-60-000-diamond-encrusted-ipod-earphone-covers/#comments" title="View reader comments on this entry">Comments</a>
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			<content:encoded><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/portableaudio/" rel="tag">Portable Audio</a></p><div align="center"><a href="http://www.moodiereport.com/document.php?c_id=34&amp;doc_id=18805"><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/deos-diamond-earphones.jpg" alt="" /></a><br />
<div align="left">Yes, you read that right, <em>covers</em>. As in, $60,000 of diamonds that clip onto a standard issue pair of iPod earphones. If the economic hard times are really hitting you hard, you can also opt for a $4,500 set encrusted with black or white diamonds, or even a set covered with the ever-popular multi-colored <a href="http://www.engadget.com/tag/Swarovski">Swarovski crystals</a> -- a veritable bargain at just $110.<br /><br />[Via <a href="http://www.musicradar.com/news/tech/diamond-encrusted-ipod-earphone-covers-cost-60k-176709">musicradar.com</a>]<br /></div>
</div><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.moodiereport.com/document.php?c_id=34&amp;doc_id=18805>Read</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/deos-offers-up-60-000-diamond-encrusted-ipod-earphone-covers/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/forward/1337965/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/deos-offers-up-60-000-diamond-encrusted-ipod-earphone-covers/#comments" title="View reader comments on this entry">Comments</a>
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		<title>5 Ways to Sell Social Media to Your Boss</title>
		<link>http://www.blogjunkies.com/10/10/2008/5-ways-to-sell-social-media-to-your-boss/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/5-ways-to-sell-social-media-to-your-boss/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 06:00:00 +0000</pubDate>
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		<description><![CDATA[<p><img src="http://www.readwriteweb.com/images/rww_enterprise.jpg" />I recently outlined why <a title="I'm fucking sick of the ROI in social media debate" href="http://onlinemarketerblog.com/2008/10/06/im-fcking-sick-of-the-roi-of-web-20-debate/" target="_blank">I'm sick of the 'ROI in web 2.0' discussion</a>. To be specific, the debate as to whether there is one at all.</p>

<p>In that post, I gave examples of how naysayers reacted to social media tools in the past - and how they were left in the dust of those who experimented with these web 2.0 tools. So, where do these naysayers come from? Why is there a resistance to web 2.0? In this post I'll explain how to sell social media to those people and/or your boss!</p>
<p align="right"><em>Sponsor</em><br /><a href='http://d.openx.org/ck.php?n=12114&#38;cb=12114' target='_blank'><img src='http://d.openx.org/avw.php?zoneid=861&#38;cb=12114&#38;n=12114' border='0' alt='' align="right" /></a></p>

<p><em>This is a guest post by DJ Francis, founder and author of <a href="http://www.OnlineMarketerBlog.com" target="_blank">OnlineMarketerBlog.com</a></em></p>

<p><strong>Your Responsibility</strong></p>

<p>Seth Godin says it's not because <a title="Probably Not Stupid by Seth Godin" href="http://sethgodin.typepad.com/seths_blog/2008/09/probably-not-st.html" target="_blank">your boss is stupid</a>. It's not that your boss is ignorant of Facebook, but that they know the 30-second spot. Seth says that the best way of changing the world is to open the close-minded and you do that by presenting more data in a palatable way. It's your job to teach your boss about web 2.0 tools.</p>

<p>Here are some suggestions for ways other companies have used social media tools. Consider how these could apply to your business. Be creative and don't think about what you <em>could</em> do - think about <em>what your customers want</em>. Then determine which social media tools can help you deliver what they want.</p>

<p><strong>Ways To Sell Social Media Tools To Your Boss</strong></p>

<p><strong>1. Keeping Up With The Joneses</strong></p>

<p>Your boss doesn't want to get left behind and it's getting more likely that s/he's seen some of this fancy social media stuff at work. <a title="Social media in the Inc. 500" href="http://www.umassd.edu/cmr/studiesresearch/blogstudy5.cfm" target="_blank">Dr. Nora Ganim Barnes and Eric Mattson</a> report that familiarity with and usage of social media within the business world (the Inc. 500 in this particular study) has nearly doubled in the past 12 months.</p>

<p>This means that your boss is likely primed for a conversation about using social media in your business. You just need to fit a web 2.0 tactics to your current business objectives. Your boss might just be looking for someone to lead the charge.</p>

<p>Barnes and Mattson report that "When queried on the importance of social media, 26% of the respondents [Inc. 500 members] in 2007 felt social media is 'very important' to their business and marketing strategy. That figure rose to 44% in approximately one year."</p>

<p><strong>2. Listening (Customer/Market Research)</strong></p>

<p>Social media offers infinite market research, branding, and listening opportunities. I dare you to search for "[Your brand] sucks" and see what you find. Listening - a simple yet often over-looked aspect of human life - may be the Web 2.0 killer app and smart companies are catching on.</p>

<p><a title="TNS/Cymfony" href="http://www.newcommreview.com/?p=1153" target="_blank">TNS/Cymfony</a> found that "Revolutionaries" - companies that focused on listening rather than selling - "have a more sophisticated approach to creating strong relationships with consumers and as a result are gaining a competitive edge," said Chief Strategy and Marketing Officer Jim Nail. (Bill Green at <a title="Make the logo bigger" href="http://makethelogobigger.blogspot.com/2008/03/monetizing-social-media.html" target="_blank">MakeTheLogoBigger</a> concurs that social media leads to listening that eventually leads to monetization.)</p>

<p>When I heard AOL had bought Bebo earlier this year I cringed just thinking about the energetic startup in the clutches of a Web 1.0 holdover. From <a title="The Economist on Bebo" href="http://www.economist.com/displaystory.cfm?story_id=10880936" target="_blank">The Economist</a>: "The non sequitur is to assume that the new service will be a revenue-generating business in its own right." But the service could be amazingly valuable if marketers used it as a listening mechanism.</p>

<p><strong>3. Responding</strong></p>

<p>Social media gives marketers the chance to give quick feedback and break down unnecessary walls. Businesses are using <a title="Twitter" href="http://twitter.com/" target="_blank">Twitter</a> to personalize a brand (<a title="Zappos on Twitter" href="http://twitter.com/zappos" target="_blank">@Zappos</a>), quickly solve customer's problems (<a title="ComCast on Twitter" href="http://twitter.com/ComcastCares" target="_blank">@ComcastCares</a>), and create more immersive interactive media experiences (<a title="_S_A_R_A_H_ on Twitter" href="http://twitter.com/_S_A_R_A_H_" target="_blank">@_S_A_R_A_H_</a> from the Sci Fi Channel's <a title="Sci Fi channel's Eureka" href="http://www.scifi.com/eureka/" target="_blank"><em>Eureka</em></a>).</p>

<p>And these comprise only one social media tool. Response ideas are endless considering the vast array of tools at your disposal.</p>

<p>And speaking of response, the best way to get that is...</p>

<p><!--nextpage--></p>

<p><strong>4. Talking To Actual Customers</strong></p>

<p>Some bosses - maybe yours - are so removed from their customers that they get a kick out of hearing from them. After all, if you spent 20 years getting your customer feedback from memos, you can imagine how disconcerting but exciting it would be to hear from, you know, a real human.</p>

<p>I recommend starting with positive feedback. Grab a sampling of social media feedback from your customers (just Google your company name or check <a title="Yelp.com" href="http://www.yelp.com" target="_blank">Yelp.com</a>, if nothing else). <a title="MarketingVox and customer reviews" href="http://www.marketingvox.com/online-reviewers-driven-mostly-by-altruism-cmos-need-not-fear-wom-034838/" target="_blank">MarketingVox</a> reports that reviews are usually positive - 87% of them, in fact. Print out a few and put them in front of your boss. Seeing glowing customer feedback will only get your boss more interested in hearing from customers.</p>

<p>In the up-coming book <a title="Paul Gillin's Secrets of Social Media Marketing" href="http://www.amazon.com/gp/product/1884956858?ie=UTF8&#38;tag=onlinemarketerblog-20&#38;linkCode=xm2&#38;camp=1789&#38;creativeASIN=1884956858" target="_blank"><em>Secrets of Social Media Marketing</em></a>, author Paul Gillan describes it this way: "Once they start taking direct feedback from customers, they tend to get addicted. Direct customer relations is like a drug."</p>

<p><strong>5. Set The Boss' Sights Long-Term</strong></p>

<p>When discussions of ROI come up, a time frame almost always comes up. "What will we get in the next quarter for this investment of time or resources?" "I want monthly reports on this expenditure."</p>

<p>This discussion is worthwhile and statistics should be kept to track progress. However, you will have more success in social media if you set your boss' expectations to cover a longer period of time. Engagement is a long-term project.</p>

<p><a title="Conversation Agent" href="http://www.conversationagent.com/2008/10/roi-of-social-media-is-not-a-one-time-deal.html" target="_blank">Valeria</a> claims that engagement and impact on retention can take two years to measure. That's not to say you won't see results before then. Lewis Green talks over at <a title="Lewis Green and the real ROI of blogging" href="http://www.mpdailyfix.com/2008/06/the_real_roi_of_blogging.html" target="_blank">MarketingProfs</a> about the ROI his company received from their blog. But manage your boss' expectations and keep them looking at the long-term goal.</p>

<p>BL Ochman put it succinctly in <a title="BL Ochman interview" href="http://www.plannedlegacy.com/newsletter/social-media-marketing-for-non-profits-bl-ochman-JDRF.html" target="_blank">this interview</a>:</p>

<blockquote><p>"You need to have realistic expectations, and know that conversational marketing produces results over time. It is not a quick fix or a magic bullet. Instead, social media must be integrated into the overall marketing plan for the long haul. And over time, you can build traffic, sales and your customer/donor base with these new tools."</p></blockquote>

<p><strong>So What?</strong></p>

<p>In most instances, when marketers talk about measurement or ROI of social media, they are trying to fit a square peg into a round hole. You can't apply a Web 1.0 gestalt in a world where the audience cannot only respond, but can also generate more content than any single company.</p>

<p>Instead of measuring how well we are pushing our message onto potential customers, we should instead gauge our success on the number of conversations listened to, problems resolved, and useful suggestions received from the community of customers we already have.</p>

<p>Your challenge is bringing your boss around to this worldview. And it is a worldview, not just some notion. It changes the way you interact with the world, so it's no small task. Likewise, it's a big job, so you'd better get cracking right now.</p>

<p><strong>Social Media Linked To Trust</strong></p>

<p>Don't forget that the reason to sell social media to your boss is so that you can begin to build a cache of trust with your customers. In truth, that trust is the real return on investment. The more they trust you, the more they will buy from you and respect your opinions.</p>

<p>Ian Schafer, CEO of Deep Focus, said in <a title="Ian Schafer in AdWeek" href="http://www.adweek.com/aw/content_display/news/agency/e3ibbacf24cbb5b53e808754445d8161984" target="_blank">AdWeek</a> that "The other risk is that in the zeal to track, marketers and agencies will lose sight of the need to trust that getting closer to customers is a worthy goal in and of itself."</p>

<p>Marketers seem obsessed with assigning value to interactions on social media sites. But real success comes when you value the interaction itself.</p>

<p>Have you sold your boss on social media tools already? How did you accomplish that? Please leave suggestions in the comments section below. And if you haven't already, <a title="Subscribe" href="http://www.OnlineMarketerBlog.com/subscribe" target="_blank">subscribe</a>, where I regularly blog on these topics.</p>

<p><em>DJ Francis is the founder and author of <a href="http://www.OnlineMarketerBlog.com" target="_blank">OnlineMarketerBlog.com</a> - a business blog at the intersection of marketing, copywriting, and social media.</em></p>
<strong><a href="http://www.readwriteweb.com/archives/5_ways_to_sell_social_media_to_your_boss.php#comments-open">Discuss</a></strong>
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			<content:encoded><![CDATA[<p><img src="http://www.readwriteweb.com/images/rww_enterprise.jpg" />I recently outlined why <a title="I'm fucking sick of the ROI in social media debate" href="http://onlinemarketerblog.com/2008/10/06/im-fcking-sick-of-the-roi-of-web-20-debate/" >I'm sick of the 'ROI in web 2.0' discussion</a>. To be specific, the debate as to whether there is one at all.</p>

<p>In that post, I gave examples of how naysayers reacted to social media tools in the past - and how they were left in the dust of those who experimented with these web 2.0 tools. So, where do these naysayers come from? Why is there a resistance to web 2.0? In this post I'll explain how to sell social media to those people and/or your boss!</p>
<p align="right"><em>Sponsor</em><br /><a href='http://d.openx.org/ck.php?n=12114&amp;cb=12114' ><img src='http://d.openx.org/avw.php?zoneid=861&amp;cb=12114&amp;n=12114' border='0' alt='' align="right" /></a></p>

<p><em>This is a guest post by DJ Francis, founder and author of <a href="http://www.OnlineMarketerBlog.com" >OnlineMarketerBlog.com</a></em></p>

<p><strong>Your Responsibility</strong></p>

<p>Seth Godin says it's not because <a title="Probably Not Stupid by Seth Godin" href="http://sethgodin.typepad.com/seths_blog/2008/09/probably-not-st.html" >your boss is stupid</a>. It's not that your boss is ignorant of Facebook, but that they know the 30-second spot. Seth says that the best way of changing the world is to open the close-minded and you do that by presenting more data in a palatable way. It's your job to teach your boss about web 2.0 tools.</p>

<p>Here are some suggestions for ways other companies have used social media tools. Consider how these could apply to your business. Be creative and don't think about what you <em>could</em> do - think about <em>what your customers want</em>. Then determine which social media tools can help you deliver what they want.</p>

<p><strong>Ways To Sell Social Media Tools To Your Boss</strong></p>

<p><strong>1. Keeping Up With The Joneses</strong></p>

<p>Your boss doesn't want to get left behind and it's getting more likely that s/he's seen some of this fancy social media stuff at work. <a title="Social media in the Inc. 500" href="http://www.umassd.edu/cmr/studiesresearch/blogstudy5.cfm" >Dr. Nora Ganim Barnes and Eric Mattson</a> report that familiarity with and usage of social media within the business world (the Inc. 500 in this particular study) has nearly doubled in the past 12 months.</p>

<p>This means that your boss is likely primed for a conversation about using social media in your business. You just need to fit a web 2.0 tactics to your current business objectives. Your boss might just be looking for someone to lead the charge.</p>

<p>Barnes and Mattson report that "When queried on the importance of social media, 26% of the respondents [Inc. 500 members] in 2007 felt social media is 'very important' to their business and marketing strategy. That figure rose to 44% in approximately one year."</p>

<p><strong>2. Listening (Customer/Market Research)</strong></p>

<p>Social media offers infinite market research, branding, and listening opportunities. I dare you to search for "[Your brand] sucks" and see what you find. Listening - a simple yet often over-looked aspect of human life - may be the Web 2.0 killer app and smart companies are catching on.</p>

<p><a title="TNS/Cymfony" href="http://www.newcommreview.com/?p=1153" >TNS/Cymfony</a> found that "Revolutionaries" - companies that focused on listening rather than selling - "have a more sophisticated approach to creating strong relationships with consumers and as a result are gaining a competitive edge," said Chief Strategy and Marketing Officer Jim Nail. (Bill Green at <a title="Make the logo bigger" href="http://makethelogobigger.blogspot.com/2008/03/monetizing-social-media.html" >MakeTheLogoBigger</a> concurs that social media leads to listening that eventually leads to monetization.)</p>

<p>When I heard AOL had bought Bebo earlier this year I cringed just thinking about the energetic startup in the clutches of a Web 1.0 holdover. From <a title="The Economist on Bebo" href="http://www.economist.com/displaystory.cfm?story_id=10880936" >The Economist</a>: "The non sequitur is to assume that the new service will be a revenue-generating business in its own right." But the service could be amazingly valuable if marketers used it as a listening mechanism.</p>

<p><strong>3. Responding</strong></p>

<p>Social media gives marketers the chance to give quick feedback and break down unnecessary walls. Businesses are using <a title="Twitter" href="http://twitter.com/" >Twitter</a> to personalize a brand (<a title="Zappos on Twitter" href="http://twitter.com/zappos" >@Zappos</a>), quickly solve customer's problems (<a title="ComCast on Twitter" href="http://twitter.com/ComcastCares" >@ComcastCares</a>), and create more immersive interactive media experiences (<a title="_S_A_R_A_H_ on Twitter" href="http://twitter.com/_S_A_R_A_H_" >@_S_A_R_A_H_</a> from the Sci Fi Channel's <a title="Sci Fi channel's Eureka" href="http://www.scifi.com/eureka/" ><em>Eureka</em></a>).</p>

<p>And these comprise only one social media tool. Response ideas are endless considering the vast array of tools at your disposal.</p>

<p>And speaking of response, the best way to get that is...</p>

<p>]]></content:encoded>
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		<title>Walmart has a change of heart, decides to maintain DRM servers</title>
		<link>http://www.blogjunkies.com/10/10/2008/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 05:59:00 +0000</pubDate>
		<dc:creator>Blog Junkies</dc:creator>
		
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		<description><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/portableaudio/" rel="tag">Portable Audio</a></p><div align="center"><img vspace="4" hspace="4" border="0" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/wal-mart-drm-free_logo.jpg"  alt="" /><br /></div>
Back by popular demand, it's the Walmart DRM servers! You heard right -- just days after Wally World <a href="http://www.engadget.com/2008/09/28/walmart-shutting-off-drm-servers-turning-over-a-new-leaf/">announced its plans</a> to turn the screw on its digital rights management servers, we're now being shown a big "just kidding." According to an e-mail (posted in full after the break) sent out to previous downloaders, the mega-corp be leaving things as-is for the foreseeable future, and it's all because of "feedback from the customers." In other words, those actions it urged you to take late last month are no longer required, though we'd still back those tracks up on CD just in case. Can't be too careful, you know.<br /><br />[Thanks to everyone who sent this in]<p><a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/" rel="bookmark">Continue reading <em>Walmart has a change of heart, decides to maintain DRM servers</em></a></p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&#160;&#124;&#160;<a href="http://www.engadget.com/forward/1338325/" title="Send this entry to a friend via email">Email this</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/#comments" title="View reader comments on this entry">Comments</a>
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			<content:encoded><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/portableaudio/" rel="tag">Portable Audio</a></p><div align="center"><img vspace="4" hspace="4" border="0" src="http://www.blogcdn.com/www.engadget.com/media/2008/10/wal-mart-drm-free_logo.jpg"  alt="" /><br /></div>
Back by popular demand, it's the Walmart DRM servers! You heard right -- just days after Wally World <a href="http://www.engadget.com/2008/09/28/walmart-shutting-off-drm-servers-turning-over-a-new-leaf/">announced its plans</a> to turn the screw on its digital rights management servers, we're now being shown a big "just kidding." According to an e-mail (posted in full after the break) sent out to previous downloaders, the mega-corp be leaving things as-is for the foreseeable future, and it's all because of "feedback from the customers." In other words, those actions it urged you to take late last month are no longer required, though we'd still back those tracks up on CD just in case. Can't be too careful, you know.<br /><br />[Thanks to everyone who sent this in]<p><a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/" rel="bookmark">Continue reading <em>Walmart has a change of heart, decides to maintain DRM servers</em></a></p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/forward/1338325/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/10/walmart-has-a-change-of-heart-decides-to-maintain-drm-servers/#comments" title="View reader comments on this entry">Comments</a>
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		<title>Benchmark Capital Advises Startups To Conserve Capital, Look For Opportunities</title>
		<link>http://www.blogjunkies.com/10/10/2008/benchmark-capital-advises-startups-to-conserve-capital-look-for-opportunities/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/benchmark-capital-advises-startups-to-conserve-capital-look-for-opportunities/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 05:01:43 +0000</pubDate>
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		<description><![CDATA[<img src='http://www.crunchbase.com/assets/images/resized/0002/0730/20730v1-max-250x250.jpg'class="shot" alt="" />Yesterday <a href="http://gigaom.com/2008/10/08/sequoia-rings-the-alarm-bell-silicon-valley-in-trouble/">Sequoia Capital</a> and <a href="http://www.techcrunch.com/2008/10/08/angel-investor-ron-conway-adresses-his-portfolio-companies-over-financial-meltdown/">Ron Conway</a> communicated with their portfolio companies to guide them through troubled times. Today <a href="http://www.crunchbase.com/financial-organization/benchmark-capital">Benchmark Capital</a> joins the fray, with what a source says is an email from General Partner <a href="http://www.crunchbase.com/person/bill-gurley">Bill Gurley</a> to their portfolio companies (See our <a href="http://www.techcrunch.com/2008/06/19/the-matt-cohler-exit-interview/">interview with Gurley and new partner Matt Cohler</a> from earlier this year).

Like the advice being given by Conway and Sequoia Capital, Gurley is urging his companies to remain calm, but get tight control of their finances, starting now. 

Gurley also says for companies to expect "across-the-board reductions" in valuations, and a tough market for raising money - "Basically, the cost of capital is going way up." Hedge funds are probably out of the picture for startup financings, he says, and corporate, strategic and angel money will decline.

Gurley also notes that major opportunities will become available to those who "play the game frugally." He says "The real key is to have a keen understanding of the game on the field and to be the one that adjests swiftly, rather than the one that moves after it's become blatantly obvious to everyone else it's time to move."

The full memo is below.]]></description>
			<content:encoded><![CDATA[<p><img src='http://www.crunchbase.com/assets/images/resized/0002/0730/20730v1-max-250x250.jpg'class="shot" alt="" />Yesterday <a href="http://gigaom.com/2008/10/08/sequoia-rings-the-alarm-bell-silicon-valley-in-trouble/" onclick="javascript:pageTracker._trackPageview ('/outbound/gigaom.com');">Sequoia Capital</a> and <a href="http://www.techcrunch.com/2008/10/08/angel-investor-ron-conway-adresses-his-portfolio-companies-over-financial-meltdown/">Ron Conway</a> communicated with their portfolio companies to guide them through troubled times. Today <a href="http://www.crunchbase.com/financial-organization/benchmark-capital" onclick="javascript:pageTracker._trackPageview ('/outbound/www.crunchbase.com');">Benchmark Capital</a> joins the fray, with what a source says is an email from General Partner <a href="http://www.crunchbase.com/person/bill-gurley" onclick="javascript:pageTracker._trackPageview ('/outbound/www.crunchbase.com');">Bill Gurley</a> to their portfolio companies (See our <a href="http://www.techcrunch.com/2008/06/19/the-matt-cohler-exit-interview/">interview with Gurley and new partner Matt Cohler</a> from earlier this year).</p>
<p>Like the advice being given by Conway and Sequoia Capital, Gurley is urging his companies to remain calm, but get tight control of their finances, starting now. </p>
<p>Gurley also says for companies to expect &#8220;across-the-board reductions&#8221; in valuations, and a tough market for raising money - &#8220;Basically, the cost of capital is going way up.&#8221; Hedge funds are probably out of the picture for startup financings, he says, and corporate, strategic and angel money will decline.</p>
<p>Gurley also notes that major opportunities will become available to those who &#8220;play the game frugally.&#8221; He says &#8220;The real key is to have a keen understanding of the game on the field and to be the one that adjests swiftly, rather than the one that moves after it&#8217;s become blatantly obvious to everyone else it&#8217;s time to move.&#8221;</p>
<p>The full memo is below.</p>
<div >
<hr width="300px" /></div>
<p>The recent downturn in the public markets (now known affectionately as “the U.S. <br />
Financial Crisis”) is obviously on everyone’s mind.   Some of the entrepreneurs and <br />
executives with which we are privileged to work have reached out and asked what <br />
this means for private companies, the VC world, and Benchmark.   As such, I thought <br />
t might be a good idea to send you our thoughts on the current situation, and <br />
ispecifically what it means for venture backed companies.  </p>
<p> From a high level, this downturn is different from the Internet bubble of 1999.  First, <br />
the last downturn started in our backyard.  We were the speculators; this time it is <br />
someone else.  This means that the “crash on the beach” wont be nearly as severe.  <br />
In the Internet crash, many times the customer was actually another VC?backed <br />
company and as such, there was a strong negative spiral.  That said, while this <br />
downturn might be shallower than last; it could last longer in terms of absolute <br />
time.  The American consumer is super?leveraged which wasn’t true before the <br />
1930’s or the 1970’s.  The overall economy will have trouble gaining momentum <br />
ith this debt anchor, and my best guess is the contraction is not finished yet.  As <br />
wsuch, it might take a long, long time before we see glory days  again.  </p>
<p> Like every major shift in the environment, this one will offer  opportunities as well as <br />
risks.  JP Morgan was able to buy two great assets as substanti al discounts with <br />
government assurances, precisely because they played the game f rugally while <br />
others were more risk seeking.  The real key is to have a keen  understanding of the <br />
game on the field and to be the one that adjusts swiftly, rather than the one that <br />
moves after it’s become blatantly obvious to everyone else it’s time to move.  Many <br />
companies that thrived post 2001?2003 were simply “Last Man Standing” in their <br />
ndustry.  It doesn’t sound all that glamorous, but it was the exact right strategy to <br />
ideploy at the time.  </p>
<p> It terms of defining our current situation, let’s start with the impact on the actual <br />
capital in “venture capital”.  The institutions (limited partners) that typically invest <br />
with Benchmark and other venture funds are not the ones on the cover of the <br />
financial news everyday.  In fact, these limited partners are typically quite <br />
conservative and have a very long?term perspective.  Certainly, new precedents are <br />
being set every day, so it’s hard to say the word “never” in this environment.  Still, <br />
e are unaware of any situation where capital availability for  us or any other VC <br />
wfirm is in question.    </p>
<p> With that said, I think access to other forms of capital that have recently been <br />
available to venture backed companies may be dramatically impacted.  As an <br />
example, one would naturally assume that the hedge?fund rounds of late?2007 and <br />
early?2008 are no longer available.  Additionally, we would expect that <br />
strategic/corporate investments, venture debt facilities, and even angel financings <br />
could all contract considerably.  In all previous economic downturns, this was <br />
certainly the case.  </p>
<p> <br />
One would also expect across?the?board reductions in follow?on financing <br />
valuations.  As financial markets deteriorate three things happen.  First, investors <br />
get nervous.  As such, they tend to “choke up on the bat” and be more conservative.  <br />
We have already witnessed skittishness on behalf of follow?on funders, as well as a <br />
lengthening of the time it takes to complete a fundraising.  The second reason <br />
valuations will fall is that the public market comparable valuations have fallen <br />
materially.  This will have a direct impact on exit prices, be they an eventual I.P.O., or <br />
M&#038;A.  In fact, I was recently at a gathering of corporate development execs, and <br />
their number one concern was that private company executives have not realized <br />
that the scoring system was just reset (expectations too high).   Lastly, investors are <br />
more concerned that a protracted economic downturn will negatively impact each <br />
private company’s specific results, increasing the likelihood of a revenue or cash <br />
flow miss.    </p>
<p> If we leave you with one message it would be this: financings as we know it just got <br />
a whole lot tougher.  Basically, the cost of capital is going way up.  This is, of course, <br />
a sweeping generalization.  Some of you have tons of cash, and some of you are <br />
profitable, so the immediate impact will obviously be less.  That said, if you do need <br />
to go to the market for capital in the foreseeable future, you should consider that the <br />
environment will be much less hospitable than it has been for the past 3?4 years <br />
which have actually been pretty benign), and that this less hospitable environment <br />
(could persist for time measured in years not quarters.    </p>
<p> Another obvious strategy is to extend the runway.  Hopefully, everyone is aware of <br />
exactly how many “months of cash” they have at their current cash level and burn <br />
rate.  If you have a method for increasing this runway, we think you should do it, and <br />
quickly.  .  This serves two purposes.  First, it gives you the opportunity to outlast <br />
the competition, and second, it puts more time between now and when you are <br />
forced to re?enter the capital markets.  One could argue you should draw down your <br />
bank lines right now.  Why?  When you need the money, the fundi ng source may just <br />
say no (they did last time).  What are you going to do?  Sue them?  Take away their <br />
warrant coverage?  So what.  If they get cold feet – you won’t see the cash, I don’t <br />
are what the term sheet says.  The bottom line is that you should watch “months of <br />
cash” as your most important variable.   </p>
<p> Be calm, but pragmatic.  The purpose of this letter isn’t to send everyone off in a <br />
panic.  It’s simply to convey that the rules of the game have changed.  One key <br />
problem is that during these market downturns, most people don’t adjust quickly <br />
enough.  As an example, not hiring heads that were previous TBH isn’t really a <br />
reduction in expenses.  Also, 10% cuts rarely lead to anything other than multiple <br />
rounds of cuts, which have a harrowing affect on culture.  It’s easy to mentally <br />
nderstand this is the right thing to do.  It is ten times harder to make the actual <br />
udecisions to affect change.  These are extremely hard decisions.  </p>
<p> You may know that I am involved with Zillow.  They did a survey of their users to <br />
ask what they thought was the current impact on home prices across America.  The <br />
average answer was that homes in America were down 20?30% in value.  The <br />
survey then asked what the user thought had happened to the value of their own <br />
home.  Miraculously they thought their own home had retained value against the <br />
odds!  Surprised?  It is human nature.  As most of you read thi s, you will be thinking <br />
in the back of your mind why your company is different than the average company <br />
like these homeowners) and why you are the exception that doesn’t need to take <br />
(action right now.  This could be a rationalization.  </p>
<p> Recently, I spoke with an entrepreneur who as a CEO during the dot?com crash and <br />
oversaw a headcount reduction from 130 to 28 (through two major layoffs), and <br />
eventually back to profitability and an IPO.  If you think a 10% layoff is tough, <br />
imagine laying?off 78% of your employees.  It is one of the hardest things I have ever <br />
seen anyone do.  I recently asked him how that experience has shaped the way he <br />
ould advise people on running a startup.  He had a list at the tip of his tongue <br />
(included now):  </p>
<p>1. You don’t realize how fast things spin out of control.  There are self?<br />
reinforcing negative affects in a downturn.<br />
2. Don&#8217;t spend money until you have to<br />
a. Don’t move out of your office until you are sitting on top of one <br />
 another <br />
b. Don’t hire any incremental employee until you just can’t stand it <br />
c. Don’t get more capacity in your data center until your site is going down     <br />
3. Better to be “late to the party” than to be early and run out of money<br />
4. Line item review of the budget every month (legal, accounting, everything)<br />
5. Not just a CEO mindset, but a company mindset<br />
a. Everyone must buy into the process<br />
b. But in a calm way - not run for the hills<br />
6. Create 2 or 3 different burn scenarios - know at any point in time how many months of cash is left.<br />
 <br />
I include this mainly because it highlights a “very high bar” in terms of frugality.  <br />
It’s one thing to say you don’t “waste money” and another to live as lean as you <br />
possibly can.  As mentioned before, in market downturns, frugality is not only a <br />
virtue, but also it could be the difference between survival and failure.  <br />
 Many great companies emerged from the 2001?2002 time?frame.  Companies <br />
built during tough times typically have incredible focus, great cultures, and a <br />
true desire to compete and win in all environments.  For many, this downturn <br />
period could be opportunistic: a real chance to differentiate yourselves from the <br />
other players in the market.  However, it is imperative to understand that the <br />
environment has just shifted to one where differentiation will  likely be defined <br />
not by aggressiveness, but rather by adaptability.   </p>
<p>  
<p><strong><em>Crunch Network</em></strong>:  <a href="http://www.crunchbase.com">CrunchBase</a><em> </em>the free database of technology companies, people, and investors</p>

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		<title>Ask Engadget: What&#8217;s the best e-book reader?</title>
		<link>http://www.blogjunkies.com/10/10/2008/ask-engadget-whats-the-best-e-book-reader/</link>
		<comments>http://www.blogjunkies.com/10/10/2008/ask-engadget-whats-the-best-e-book-reader/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 04:28:00 +0000</pubDate>
		<dc:creator>Blog Junkies</dc:creator>
		
		<category><![CDATA[]]></category>

		<guid isPermaLink="false">http://www.engadget.com/2008/10/09/ask-engadget-whats-the-best-e-book-reader/</guid>
		<description><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/ask/" rel="tag">Ask Engadget</a>, <a href="http://www.engadget.com/category/displays/" rel="tag">Displays</a></p><img vspace="16" hspace="4" border="0" align="right" alt=""  src="http://www.blogcdn.com/www.engadgethd.com/media/2008/10/ask-engadget.jpg" />Tim from Australia sent in a question via our super-sophisticated submission method (that'd be e-mailing one in to <strong>ask at engadget dawt com</strong>) regarding e-readers, and given that Sony just pushed out <a href="http://www.engadget.com/2008/10/02/sony-announces-prs-700-reader/">a new one</a> of its own, we found this one particularly timely:  <br /><br />"I'm starting a PhD next year and I'm looking to get an e-book reader so I can read PDFs of journal articles on the bus. It would have to be readable in direct sunlight and have a display large enough to read pages of about 400 to 500 words. Stylishness would also be nice. I don't know the going rate for decent <a href="http://www.engadget.com/tag/e-reader">e-readers</a> but I'd be prepared to spend up to $500."  <br /><br />So, intellects -- what's the best piece of kit to snag for visually inhaling those scholarly articles in PDF form? Will it handle the occasional FCC user manual, too? Because that's really important, you know.<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/09/ask-engadget-whats-the-best-e-book-reader/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&#160;&#124;&#160;<a href="http://www.engadget.com/forward/1338016/" title="Send this entry to a friend via email">Email this</a>&#160;&#124;&#160;<a href="http://www.engadget.com/2008/10/09/ask-engadget-whats-the-best-e-book-reader/#comments" title="View reader comments on this entry">Comments</a>
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			<content:encoded><![CDATA[<p>Filed under: <a href="http://www.engadget.com/category/ask/" rel="tag">Ask Engadget</a>, <a href="http://www.engadget.com/category/displays/" rel="tag">Displays</a></p><img vspace="16" hspace="4" border="0" align="right" alt=""  src="http://www.blogcdn.com/www.engadgethd.com/media/2008/10/ask-engadget.jpg" />Tim from Australia sent in a question via our super-sophisticated submission method (that'd be e-mailing one in to <strong>ask at engadget dawt com</strong>) regarding e-readers, and given that Sony just pushed out <a href="http://www.engadget.com/2008/10/02/sony-announces-prs-700-reader/">a new one</a> of its own, we found this one particularly timely:  <br /><br />"I'm starting a PhD next year and I'm looking to get an e-book reader so I can read PDFs of journal articles on the bus. It would have to be readable in direct sunlight and have a display large enough to read pages of about 400 to 500 words. Stylishness would also be nice. I don't know the going rate for decent <a href="http://www.engadget.com/tag/e-reader">e-readers</a> but I'd be prepared to spend up to $500."  <br /><br />So, intellects -- what's the best piece of kit to snag for visually inhaling those scholarly articles in PDF form? Will it handle the occasional FCC user manual, too? Because that's really important, you know.<h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.engadget.com/2008/10/09/ask-engadget-whats-the-best-e-book-reader/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/forward/1338016/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.engadget.com/2008/10/09/ask-engadget-whats-the-best-e-book-reader/#comments" title="View reader comments on this entry">Comments</a>
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