How Will Salesforce Adapt to the Next Platform Shift: Mobile Computing?

I posted an article on TechCrunch last Friday. The title of the article was “How Will Salesforce Adapt to the Next Platform Shift: Mobile Computing?”

The purpose of the article was to point out that every decade or so a new computing platform emerges. Market leading incumbents typically have the most to lose when these shifts occur and typically have the most difficult time making the transition due to legacy architectures and revenue streams dependent upon preserving the status quo.

Please….For Crying Out Loud…Stop the Rants!

With the upcoming election, I feel as though I am being pummeled with rants from both the left and right via traditional and now social media. Four years ago, there were a lot fewer FB users and a lot less of the ranting.  Now, it has gotten so bad, I wrote the following and posted it on my FB feed:

Face(book) It – Your Social Media Strategy isn’t Paying Off

According to eMarketer, last year, U.S. companies spent more than $3 billion on Facebook brand pages and social media advertisements and the return has been universally abysmal. GM went on record in May of this year in the Wall Street Journal saying that FB ads don’t pay off and that GM was ending all investment in FB advertising.

That said, The CMO completed a survey in February 2012 and found “…that marketers continue to increase spend on social media. In the next 5 years, marketers expect to spend 19.5% of their budgets on social media, almost three times more than the current level! Within a year, marketers expect to spend 10.8% of their budgets on social media.”

Unless the results change, however, marketers are going to lose interest in this “shiny new toy” and eventually drop or at least significantly reduce their investments in social media.

That would be a mistake.

The problem doesn’t lie with FB et al per se. The underlying problem, in my opinion, and what has recently been corroborated by research is that your social media strategy needs to include authentic customer engagement and not be viewed and used as yet another one-way digital advertising channel.

To help make this case, one of my portfolio investments, Get Satisfaction!, will hold an event on Thursday, July 26th to unveil recently completed research in this area.

Do Venture Capitalists Suck?

Dave McClure, formerly with PayPal now at 500StartUps, posted a great article this past week he titled, “Scaling Venture Capital. We suck. We can do better.” I encourage you to read it.

Dave makes two points. The first point is that most venture capitalists are hypocrites. They expect entrepreneurs to build large, global companies while they as venture capitalists have never personally held an operational role nor built and scaled a large, global successful company.

I think it is this issue that tends to cause a lot of friction between entrepreneurs and venture capitalists and it is this point I am going to focus on here.

Are You Capitalizing Upon Your Social Media-ness?

I had a great meeting with Bindu Reddy last week. Bindu is the CEO of MyLikes and the former head of product management for Google Apps. Her husband and co-founder of MyLikes, Arvind Sundararajan, is the former tech lead for AdSense.

The premise behind MyLikes is simple: we are more likely to trust the recommendations of our friends, colleagues and advisors more than we trust consumer ads and the opinions of people we don’t know (with the exception of Hollywood celebrities and sports stars because, of course, we all know they are completely believable, role models for our children and extremely well educated – sarcasm intended).