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How much is Twitter worth? Raise pinky to lip…

According to a new report by Michael Arrington at TechCrunch, Twitter is currently worth 1 beeeeellion doll hairs.

The company is rumored to be closing an additional round of funding estimated at $50 million, which will purportedly place Twitter at a $1 billion valuation as a result.

Earlier this year Twitter closed a round of $35 million in a round led by Benchmark Capital and Institutional Venture Partners, which valued the company at $250 million.

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Now available! (click below to purchase the new book or poster):

Our guest blogger, Larry Chiang, is an instructive humorist and blogs at Business Week. If you liked “10 Things They Don’t Teach You at Business School“, How to Work a Cocktail Party and “10 VC Mistakes,” you’ll like this submission on some all-important mistakes VCs make when they become entrepreneurs themselves.

By Larry Chiang

Jumping from venture-capitalist-board-member to “start-up founder and CEO’ is near impossible for the HBSer / GSBer to successfully do. The b-school molded HBS-Harvard Business School / Stanford Graduate School Business (GSB) need to navigate eight pitfalls.

-1- Too self indulgent.

Being smarter than a billionaire you met during b-school show-and-tell, does not make you a better entrepreneur. This fundamental fact sinks many want-preneurs.

Stop the ego massaging and set aside all 170 IQ points and dumb it down. Robert Downey Jr recommends going, “partial retard” in his character from Tropic Thunder.

Look at the biggest hits:

“eBay” – pretty retarded selling beanie babies and Pez dispensers in the 90s

“Yahoo” – a dumb but cute-funny, pre-orgasmic sound upon discovering a search result on a Stanford server with the same name.

“Google” – please. The site (and campus) still looks like romper room time with Barney. No not that one…

THIS ONE

“Duck9″ – are you effen kidding? The whole site is a logo with a dumb riddle.

-2- Too focused on perfect formula vs market pain.

What do you call a mish-mash or under experienced payment executives doing peer-to-peer payments? The payPal founding team.

You can bet, the PayPal mafia (since their $1.5B exit) focuses on market pain.

-3- Too cerebral.

They do not pay you to be smart. They do not pay you for researching a silver bullet technology. They pay you to promote. They pay you to raise the $0.02/share stock price by promoting adoption of your
technology.

Another trapping of too cerebral-palsyness is knowing too much about too many things. Entrepreneurs hone in like a laser beam. Heck most entrepreneurs do not even know what a credit FICO score is or a credit crisis or have talking points on the impending Obama Presidency [insert pic here]

VCs read coverage and this rss habit needs to be KICKED when you put the CEO hat on.

-4- Too unproductive.

Why are VCs turned entrepreneur lame-duck?! Maybe it is the ex VC’s pedigreed family. Maybe it is the blue blood family money… Maybe criticizing and producing are too different from each other. Maybe consulting and executing are too different from each other.

Also, meetings taken by VCs for your new upstart can not be logged as productivity. Those charity meetings are taken as a hedge because they think you will fail and be a VC again.

Fire the wife. Fire the girlfriend. Your new wife and your new mistress have a new name… and it is called D-u-c-k-9. Or Asse9. Or Buck9. Or elephant9 if you are stealing my URL (yes “Elephant9″ is
registered to a Sand Hill Road squatter).

-5- Too talentless.

Academic talent does not usually translate into entrepreneurial talent — some would argue academic talent NEVER translates into entrepreneurial talent, but then they’ve never met Tom Chiang (dad).

SOLUTION. Re-gear, retool and start sandbagging for success. I mention sand-bagging because it is defined as deliberately misleading someone to think you NEVER did b-school. You can not ramp up entrepreneurial talent while clutching your tier one MBA status.

-6- Too inflexible.

Welcome to beta male-ness. You were an alpha (sort of) back when you were quoting the size of Fund XIX. Live, embrace AND WALLOW in your new tier two status.

Mr. Ex-VC, want an exercise in ego flexibility? Hand out slices of pizza at the next blogger meet-up that WordPress produces. Kiss blogger ass (or Asse9) right near the butt crack.

SOLUTION: sell your condo and go “native”. I own three homes but live in a dorm room on University Avenue… Eff you, because this advice is falling on deaf ears.

-7- Too non promotional.

Sell it. Rarely does something sell itself. I can not repeat this point enough.

Sell it don’t smell it

“The key to sales is to get them to sign on the line which is dotted,” Alec Baldwin in Glengarry Glen Ross.

-8- Too historical.

Majors from the last war that are now Generals historically fight to re-win lost battles. B-school does something similar to us when we pour over HBS (Harvard Business School) case studies.

So you are damned if you know case studies, and you’re damned if you don’t. But the biggest factor VCs have in not making the jump to entrepreneur is…

-9- Too unable to weather a storm.

Entrepreneurship is 90% crap so weathering a first storm motivates most exVCs into “cutting their losses”. Get ready for a future storm with my litmus test…

TOUGH QUESTIONS TO ASK YOURSELF.
Can you handle a mutiny?
Can you ramp up while 70% of your staff is severed?
Can you buy your assets back in BK court and restart?
Does the thought of that make you cringe?
Can you sell your way out of a wet paper bag?
Can you charm you suppliers and vendors for 2-10 net 90 terms after you
signed docs for net 30?
Can you negotiate your debts with collectors minutes before you go on a
Tony Perkins panel?

Most entrepreneurs wither-and-wilt during the third storm they face. The over-under on the number of “storms” a VC HBSer can handle: 1.3. Smart money bets the under. TRANSLATION. An over under but is when the “house” calls out a prediction that is eerily spot on. You place your “bet” and pick ‘over’ or ‘under’. Easy, weasy, Chin-easy. Gawd I just made that up.

The one hit wonder has an over under number of 1.8. Being more fragile than a one-hot wonder is NOT a good position to be in.

Stay tuned. When I cover (err crash) the SAG Awards and Oscars, I’ll cover the four mistakes of actors turned directors.

My focus is, “What They Don’t Teach You At Stanford Business School” and I have a book coming out 09-09-09. The next conference I am going to is Tony Perkins VC Conference

Larry Chiang is the founder of duck9, which educates college students on how to establish and maintain a FICO score over 750. He is a frequent contributor to GigaOm’s Found|Read. His earlier posts include: How to Work The Room; 8 Tips On How to Get Mentored ; and 9 VCs You’re Gonna Want To Avoid. You can read more equally funny, founder-focused-lessons on Larry’s Amazon blog.

by Brian Solis

During day one of The Web 2.0 Summit, we were treated to an incredibly eye-opening conversation between billionaire investor John Doerr and John Heilemann, a contributing editor at New York magazine. Heilemann had just flown in from Chicago where he spent time with Barack Obama. Believe it or not, Obama had a couple of questions for Doerr that he channeled through Heilemann.

This is where the conversations begins.

Obama requested Doerr’s recommendation for chief technology officer of the United States. Within seconds, Doerr replied with ease.

“Bill Joy,” he said quickly.

Joy is the co-founder of Sun Microsystems, in which Doerr was an early investor and is now a partner Kleiner Perkins Caufield & Byers.

Doerr added, “It would be a sacrifice to lose him to the Obama administration, but there is no greater cause.”

Obama’s second question sought Doerr’s guidance on which single policy issue would most help entrepreneurs.

Again, with a prompt and convincing response Doerr jumped, “Kickstart research and innovation in the energy sector.”

He then focused on the fact that the US also needs to invest in graduating a greater number of capable professionals. His goal is to double it from 30,000 to 60,000 graduating in physical sciences and engineering. Doerr highlighted the fact that a majority of students are studying from foreign countries. After they graduate, we send them back home, “what kind of foreign policy is that?” he quipped. His advice, “Staple a green card to each diploma!”

The conversation traversed a multitude of subject matter. One such discussion focused on the financial crisis.

His observation is that Silicon Valley and technology is a big part of the economy. But that venture capital investments and startup performance are not to blame this time. He also said that the mortgage industry is not solely responsible either. We’re enthralled in a “crises economy” according to Doerr.

“People lost faith in our government, leaders, and they lost faith in their money,” Doerr believes.

Doerr continued, “Wall Street and Main Street are intertwined. Kicking people out of their homes makes no sense at all. What lenders should do is revalue their homes, issue a new 30 year mortgage and have them restart their lives in their existing house.”

Mr. John Doerr also discussed the startup market.

“There’s been a lot of activity that doesn’t deserve to be funded,” Doerr exclaimed. “Good ideas will still get funded, but it’s a buyers market, not a sellers market, so terms are going to be different.”

His main concern nowadays is how can his team get those companies to produce a return.

“Google is just not going to buy a lot of these startups, so who else will?” he asked.

He warned startup founders to get ready for a longer haul than most anticipate. To help startups survive the financial crisis, he offered the following 11 tips:

1. Act now

2. Cut once, cut deeper than you need. You only want to do this once – use a scalpel, not an axe

3. Have or secure 18 months of cash

4. Defer facilities expansion and expenses on technology infrastructure

5. Evaluate R&D priorities and focus on what truly is necessary and important

6. Renegotiate all contacts – you’d be surprised that everything, right now, is negotiable

7. Everybody in the company ought to be selling

8. Pay people in equity in addition to reduced cash

9. Secure cash – treasuries. security backed agency loans

10. Figure out the leading indicators of your business dynamics so you can react quickly

11. Over communicate without sugarcoating

“Most importantly,” he added, “do not cut hope. We will emerge much stronger.”

Pictures from the Web 2.0 Summit Day One are available in my album on Flickr.

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by Brian Solis

The W Hotel, Westwood

I flew to Los Angeles for 24 hours to serve as the lunch keynote speaker at PR 2.0: Breaking into the Conversation. Following the event, and a full day of work, a few of us decided to host an impromptu Tweetup in The Backyard, poolside at the W Hotel in Westwood. It was a beautiful night, which was complemented with some very incredible people.

I’ll let the pictures the rest of the story…

Click here for the names of a few of those who joined us

Shira Lazar

Kurt Daradics and Mike Prasaad

Nicole Jordan and Todd Cohen

Rafat Ali of PaidContent and Patricia Handschiegel

Jackie Peters

Sean Percival, Shira Lazar, Nicole Jordan

Kurt Daradics

Damon Alexander Young and Nicole Jordan

Laurie Percival

For more pictures from the LA Tweetup @The W, Westwood, please visit my album on flickr.

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by Brian Solis

Everyone! (click the image to tag & add a note to your pic and those you know)

Kristen Nicole and I organized a last-minute Chicago Tweetup at Crimson in the Hotel Sax to celebrate the emerging tech sector in Chicago. I was in town to speak at the Chicago Community Trust event, The New Media Revolution: How Arts Organizations Can Thrive in the Digital Age. I was overwhelmed by the amazing people who showed up and shared their time and stories with everyone.

Thank you to Kristen for bringing everyone together. And, thank you to Emile Cambry for helping me with everything once I landed in Chicago.

I’ll  let the pictures tell the rest of the story…

The one and only Kristen Nicole

Francine McKenna, Liz Strauss, Barbara Rozgonyi

Blagica Stefanovski Bottigliero

Jeffery O’Hara

Birthday boy Jim Figliulo and Roderick Richards

Kristen Nicole and Liz Strauss

Andrew John Angelos, Amanda Mooney, and…

And now for the fashion show…

Congratulations, you’re still in the running for becoming America’s Next Top Model

For more pictures from the Chicago Tweetup, please visit my album on flickr.

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by Brian Solis

Mashable recently hosted its Mashable Monthly series at Roe in San Francisco. The September bash also served as the temporary going away party for Mr. Pete Cashmore.

I’ll let the pictures tell the rest of the story…

Gregarious Greg Narain and Bub.blicio.us TV host, Alison McNeill

Dave Mathews

Morgan Brown of TurnHere

Betsy Flanagan and Reggie Nicolay

Adam Jackson

Marcus Nelson of Uservoice

Felicia Williams, Michelle DeForest, Schlomo Rabinowitz

Greg Narain and Tim Street

Drew Olanoff of Strands

Sandra Ponce de Leon

Pete Cashmore

Krystal Ariel and Rebecca Reeve

Bub.blicio.us TV

Nate Pagel and Stowe Boyd

Andrew Mager

Karen Hartline and Pete Cashmore

Rudy Bachraty

Paige Craig and Dan Kaplan

Debbie Landa

The Bub.blicio.us TV crew was on hand to interview an impressive list of entrepreneurs and influencers in attendance. Click here to watch the discussions.

For more pictures from the September Mashable Monthly event, please visit my album on flickr.

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by Brian Solis

I’ve been sitting on some amazing pictures from some of my recent travels in the tech sector, many of which are just too much fun not to share.

During Web 2.0 Expo NY, Microsoft threw an incredible party at The Park in NY’s Sex in the City district aka Meatpacking District. Following the party, we hosted an impromptu after party with at least 50 people at the Maritime Hotel. The night was too beautiful to let slip away.

I’ll let the pictures tell the rest of the story.

David Armano

James Gross and Oren Michels of Mashery

Chris Munns of Meetup.com and Michelle DeForest

Brady Forest and Oren Michels

Alana Taylor

Gregarious Greg Narain and Rebecca Schlachter

Aubrey Sabala

Brett Petersel and James Whatley

The Dance

Jim Long

Suzy Mae Howard

Rock on!

After Party: Maritime Hotel Patio

Zach Luye aka RadZach

Cal Henderson

I love this pic!

Ezra Butler

Zach Luye and Brian Solis

Brett Petersel and Selina McCusker

Who is she?

More pictures from the Microsoft IE8 Web 2.0 Expo party, please visit my album on flickr. More pictures from the after party are also on flickr.

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words and pictures by Brian Solis

Blogworld Expo exceeded all of my expectations this year and it already has scores of bloggers planning their 2009 trip to Las Vegas – including me.

Stephanie Agresta and I were asked to host a Techset event in honor of attending bloggers to celebrate their achievements, connect each other, place names to faces, and also meet new contacts to place on our radar and in our feed readers.

Because of you and your accomplishments, we were inspired to organize something very special, something that truly captured the spirit of the blogsphere and the relationships we’ve built, while injecting a bit of Las Vegas style into the mix.

Hosted at the Bare outdoor adult pool lounge at the Mirage, some of the most renown, innovative, vocal, and creative bloggers descended upon the venue en masse. The doors opened at 9:00 p.m. and by 9:05, the place was already packed. By the end of the evening, we were 500 strong.

It wasn’t the perfect night, weather, ambiance, view, or setting that made the evening memorable. It was your participation as an ambassador of the blogosphere and your community, who individually and collectively created a truly wonderful experience.

These pictures only capture one side of the night. There are many great stories from that night that should be shared with everyone. Please tell us your experience or favorite part of the night in the comments section or link your stories back here!

Gary Vaynerchuk, Michelle Oshen and Loren Feldman

Brian Thatcher of Empressr

Effren Toscano and Francisco Dao

Shira Lazar of The Pop Report

Sandra Ponce de Leon and Francisco Dao

Steve Hall of Adrants

Valerie Combs of BuzzLogic

Tim Street

Aaron Brazell and Loren Feldman

@pistachio, @queenofspain, @geekmommy, @nalei, @colleenplick

Hugh MacLeod, GapingVoid

Laura Fitton and Gary Vaynerchuk

Frank Eliason @comcastcares

VIP Zone by Media Temple

Pete Cashmore of Mashable

Kris Krug and Shira Lazar

Ewan Spence with Erin Kotecki Vest

Jenn Mae and Rebecca Bollwitt

Drew Olanoff and Jen Myronuk

Adam Ostrow, Karen Hartline, Brett Petersel of Mashable

Ezra Butler

Brian Solis and Shira Lazar

Miiko Mentz, Jeremy Tanner, and Karen Hartline

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We want to extend a very special thank you to our sponsors. Without you, we could not have hosted one of the best blogger events to date. You made it possible…

Everyone, please make sure to visit each company to see how they can help you.

Title Sponsor:

(mt) Media Temple, hosting blog super stars and super startups alike.

Cabana Sponsors:

Canvas On Demand takes your prized photograph and transform it into an amazing canvas work of art.

Empressr is a first of its kind rich Internet application that provides users with the tools to create and share multimedia visual stories online.

MindTouch Deki is an open source collaboration and integration platform.

ShareThis lets you instantly access all of your profiles, blogs, friends, and contacts for easy sharing and updating, without leaving a Web site.

Tagga allows anyone to create text message campaigns instantly so that you can interact, sell to, or simply communicate with mobile users.

Thank you to Sarah Lacy, who took over one of the cabanas to meet with fans and sign copies of her new book, Once You’re Lucky, Twice You’re Good: The Rebirth of Silicon Valley and the Rise of Web 2.0.

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For more pictures from TechSet Las Vegas, please visit my album on flickr.

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