Slumdog Millionaire's performance at the box office is worth tracking. Why? I would recommend sampling the product first. You are welcome to tell me what you think- after you see it. ;-)
My first hypothesis is that word-of-mouth would have a huge impact on the movie's box office returns.
Keeping absolute returns aside, my second hypothesis is that this movie would have a fatter tail vis-a-vis initial returns compared to a movie I have mentioned here:
http://randomjunkyramblings.blogspot.com/2008/05/movies-and-brands-iron-man.html
Which products/ brands would have gained the most from an association with Slumdog Millionaire?
What do you think?
Tuesday, November 25, 2008
Saturday, November 22, 2008
Interesting Times and Investing in Large Cap Companies- Part 1
Is equity investing in large cap companies during uncertain times similar to venture capital investing if the 3 conditions below are true?
1> Your offer of capital makes you a large shareholder in the company.
E.g. Warren Buffet's investment in Goldman Sachs, with the terms he could bargain for.
2> The capital markets enter a period of volatility that begins to approach uncertainty that venture capital investors face in their investment decisions.
E.g. The VIX crossing 85 in October'08, in the context of applying the Black Scholes model to investing decisions.
3> The capital markets face a liquidity crisis/ credit crunch.
Talking points:
1> Are these three conditions enough?
2> Does the "maturity" of the company mean anything beyond the ability to effect change within the organization, and the time required to effect this change?
3> Is looking at this question purely from the financial investing term sheet perspective inherently flawed?
Now that you have been anchored to the 3 follow up questions above, here are a couple more:
1. Is there a category of distressed company investing that is similar to venture capital investing?
2. Irrespective of how you categorize your investments or investing style, would you consider ending up looking at term sheets as an indicator of the end-of-the-road for that particular investment?
What do you think?
1> Your offer of capital makes you a large shareholder in the company.
E.g. Warren Buffet's investment in Goldman Sachs, with the terms he could bargain for.
2> The capital markets enter a period of volatility that begins to approach uncertainty that venture capital investors face in their investment decisions.
E.g. The VIX crossing 85 in October'08, in the context of applying the Black Scholes model to investing decisions.
3> The capital markets face a liquidity crisis/ credit crunch.
Talking points:
1> Are these three conditions enough?
2> Does the "maturity" of the company mean anything beyond the ability to effect change within the organization, and the time required to effect this change?
3> Is looking at this question purely from the financial investing term sheet perspective inherently flawed?
Now that you have been anchored to the 3 follow up questions above, here are a couple more:
1. Is there a category of distressed company investing that is similar to venture capital investing?
2. Irrespective of how you categorize your investments or investing style, would you consider ending up looking at term sheets as an indicator of the end-of-the-road for that particular investment?
What do you think?
Tuesday, October 21, 2008
Managing a crisis.
A couple of thoughts:
1> Parallel between managing a financial crisis and plain old project management.
As a crisis prevention (management?) measure, would a decision maker pump in money into "the system" to minimize the impact of a crisis as against spending as much money after the crisis has totally hammered the economy?
The context is the current administration's steps in dealing with the crisis as against the government initiating huge construction projects to keep the economy floating through the Depression period.
2> Credit and liquidity characterized as life saving therapy that could kill?
What do you think?
1> Parallel between managing a financial crisis and plain old project management.
As a crisis prevention (management?) measure, would a decision maker pump in money into "the system" to minimize the impact of a crisis as against spending as much money after the crisis has totally hammered the economy?
The context is the current administration's steps in dealing with the crisis as against the government initiating huge construction projects to keep the economy floating through the Depression period.
2> Credit and liquidity characterized as life saving therapy that could kill?
What do you think?
Thursday, September 25, 2008
Financial Crisis: Economists comment
If, like me, you would like to hear what seasoned economists think about the current financial crisis, below is an interesting site called The Economists' Voice:
http://www.bepress.com/ev/
Its a subscription site- however, the individual subscription fee does not cost an arm and a leg.
It was shortlisted for the best new journal here:
http://www.alpsp.org/ngen_public/default.asp?ID=251#new
Many thanks to Lori Sullivan for sharing the site.
http://www.bepress.com/ev/
Its a subscription site- however, the individual subscription fee does not cost an arm and a leg.
It was shortlisted for the best new journal here:
http://www.alpsp.org/ngen_public/default.asp?ID=251#new
Many thanks to Lori Sullivan for sharing the site.
Wednesday, September 24, 2008
The Anatomy of a Financial Crisis/ Good Times, Bad Times
Notes:
The first 5 points of the notes are at end of the novella below.
6> Characters below bear no resemblance... oh, go on and read it for yourself.
The Anatomy of a Financial Crisis, Or,
Good Times, Bad Times (With Apologies to Led Zep)
Minnie, Manny and Moe are bankers in GeeWizLand. They like to lend folks money so that folks can take fun vacations and create a global economy. The 3Ms have been doing this for ages, and they like to lend money to a certain set of people, like Paris Heelton and Britney Spurs, with the odd movie star like Ms. Jolee thrown in.
Funky Fred comes along and tells the 3 Ms that he will be happy to guarantee these vacation loans for a small fee. Given the uncertainty over Paris' Jail time and Britney's asylum ambitions, this sounds like a good idea to the 3 Ms. Funky Fred also decides the he could lend to the 3 Ms. Moe is totally on board with Funky Fred on this. Ms. Winepub showed up at Moe's very ornate door seeking money for a rehab vacation, and Funky Fred's loan would help Moe lend a helping hand to Ms. Winepub.
Times are good. The 3 Ms meet at the 3Ms Factory every Friday night to gorge on Cheesecake and are happy to invite Funky Fred to the party. On one of these evenings, Funky Fred comes up with another innovative, brilliant idea. He will not only allow ordinary folks to become shareholders in his company Fred Smarts, but he will also borrow. There are only 3 bankers in GeeWizLand. The 3 Ms. Funky Fred points out that the smart and funky thing about this borrowing is that he will pick and choose loans, label them 3 As and let Minnie, Manny and Moe choose to lend against the 3 As.
Minnie, Manny and Moe look at each other, and like the idea. After all, Funky Fred is the smart guy running Fred Smarts. He is guaranteeing their loans. He is also a lender and has some insight into the loans business. Minne is thinking she will get to lend against the 3 As in Moe's bag- she had been eyeing superstar Winepub's rehab vacation deal that Moe pulled off. So, they begin to hammer out the idea over more Cheesecake. Funky Fred totally connects with Minnie when he mentions that he thought Ms. Winepub was such a good bet, he lent her money for her second rehab vacation. With the cha-ching at the opening of Pink Floyd's Money ringing in their ears, Funky Fred and Moe exchange high fives. Manny being Manny, throws a plate of cheesecake up in the air, high fives a cute hanger on, and then tosses it over to Funky Fred. Finally, to close the deal, Funky Fred announces, "Folks, I think this is the beginning of a beautiful friendship".
Sweet!
Of course, the 3Ms are not supposed to be thinking about Funky Fred's uncle. Sam. Sam is the Warren Buffet of GeeWizLand. Fred has always been careful to tell them that Sam's a great guy and everything, but Sam and he have no business dealings, and that Sam minds his own business. Anyhow, the 3 Ms think it can't hurt to have Sam for an Uncle.
So, times are good. With all the fees Minnie, Manny Moe and Fred are making, the innovative Friday night cheesecake parties at the 3 Ms Factory are the toast of GeeWizLand.
Along comes Boogie Howser, NPH. Brilliant guy. He wants to take a year long sabbatical- he wishes to go sailing around the world. He intends to use the money from his consulting gigs, playing doctor sans frontiers, mais avec un bateau, at his stopovers to pay the interest on the loan while he is away. Moe likes Boogie. Boogie's past record as GeeWizLand's superdoc is unbeatable. Moe thinks this loan is do-able and happily loans Boogie the money. Moe thinks Boogie is not just Type A, he is Type 3A and labels him as such (AAA). Same goes for the loan- now 3A (TM). Plus, times are good, aren't they?
Now, Boogie breaks a leg at a stopover in Timbucktu. He treats folks who cannot really pay much. He misses a payment, and then some. Ms. Winepub treats her rehab vacation like a vacation, her concerts bomb, and her second album completely bombs. Ms. Winepub is a gem of a person. She will repay her loan. Fred and the 3 Ms think she will too. She's a rockstar and a gem of a person. Really. However, for now she missed a payment and then some.
Moe realizes he is in trouble. Even if its only for now. First there was Boogie, a customer he had not dealt with previously, and now Ms. Winepub was tottering as well. All superstars, each one a gem of a person. Moe suddenly has no money to lend because he is not getting any money in. In fact, Moe may not be able to make his payments on the money he has borrowed.
Funky Fred and Moe have a quiet chat at their Cheesecake Party. Funky Fred realizes he is in trouble too, just like Moe. First there was Ms. Winepub. Now, he has to stand by his guaranty for Moe.
Funky Fred has no money. Not to lend. Not even to make payments to Minne and Manny who were counting on his funky 3 As. Minne and Manny haven't heard about Ms. Winepub's financial mess. They couldn't. To them, she had become one of the funky Type 3As- Not Just a Number, But a TLA (Trademark, Funky Fred). In any case, Minnie and Manny soon realize they are in trouble as well. Funky Fred can't pay them. Now, Minne and Manny can't lend. Maybe they wouldn't be able to make payments in the future either.
The 3 Ms realize that old methods like throwing cheesecake at each other to sort matters out would not work. True to their reputation, the 3 Ms will have to innovate yet again. Minnie, Manny and Moe now step out of their party and head over to Fred's Uncle's- Sam's- place.
Sleepy Sam is awakened by a 3 AM knock at his door and finds Minnie, Manny and Moe looking at him. Sam, a little drowsy, begins to think about why he should bother with the 3Ms. Really. Minnie, Manny and Moe dug their own grave. Then there was Funky Fred, who was always too smart for his own good. Who goes about calling himself Funky Fred? He is not sure if its the sleeping pills reacting with his face cream, but his mind plays a phantasmagoric reel of Young Sam punishing little Funky Fred for making too much money at his lemonade stand by spanking him and getting him to drop Funky from his name for the next school year. The reel ends abruptly with Funky Fred negotiating with the immortal line, "Funky by any other name... is still Funky".
What should Fred's uncle do? A simple "Get lost!" to the 3Ms should do the trick and he can deal with Fred (down with Funky! Now!) in the morning. However, it's not that simple, is it? There's a faint thought in his mind, barely registering thanks to the throbbing headache caused by The Friday Night Party People showing up at his doorstep in the middle of the night. Perhaps his businesses, and wealth are tied to the 3Ms fortunes.
Sam is huge. HUUGE. He has borrowings from the 3Ms. He also has borrowings from distant shores. The distant shores like GeeWizLand. Its a nice town of superstars that always have money. Now, unfortunately due to the Winepubs and the Howsers, the 3Ms don't have money. And the superstars don't have any money to spend because 3Ms aren't giving them any.
Oh and btw, somehow, folks outside GeeWizLand aren't buying Superstars anymore. The Superstars will find a way, but for now, they really have no money.
Sam's businesses, even stable businesses like EyeRuS (How much emptier can you pocket be today? Trademark EyeRuS), are now hurting because Superstars have no money.
Distant Shores (TM, The Distant Shores Syndicate) has a little camera behind a Curtain in Sam's House. It is watching Sam. What will Sam do? Can Distant Shores' members continue lending to Sam the same way they used to? Perhaps distant shores ("More Than That Syndicate") have no options either, just like Sam.
What does all of this mean? This looks like one big snake biting off its own tail! This may also look like something that GeeWizLand and distant shores may have to weather together. For how long? A year? A decade? A generation?
GeeWizLand knows little about distant shores. Those who do know about distant shores tend to go break a leg in Timbucktu. Distant shores think they know GeeWizLand and its Superstars, but that's an illusion as well. However, everyone has a sinking feeling that even if it is for a little bit- with faith in Superstars and everything- everyone is in it together.
What do you think?
Notes, the strange loop version:
1> This writing (Novella, as some readers have called it) is a slightly modified version of an extempore email sent out on July 12 to a MENSA message board to explain, in layman's terms, what was going on in the financial sector at that point of time.
2> This is an incredibly painful time for the financial services industry, the US economy and global economies. This article is just an abstraction. Its a starting point for readers to explore market structure and think analytically about decision making. If this encourages you to build complex models that tie in macroeconomics, consumer behavior and game theory, please drop me a line. We should talk.
3> A lot has happened since July 12. If you have read the story before-I will reemphasize that its not over yet. The article is structured so that you challenge every paragraph and analytically dig into the details. Your comments are welcome and critical.
4> Many thanks to Prof. Rosensweig for teaching.
5> I remember telling someone in a different context (the energy crisis) that if I could fix the problem tomorrow, I would do it. I really, really, really would like to. I can't. I can, however, do my best to learn. "We shall overcome!"
The first 5 points of the notes are at end of the novella below.
6> Characters below bear no resemblance... oh, go on and read it for yourself.
The Anatomy of a Financial Crisis, Or,
Good Times, Bad Times (With Apologies to Led Zep)
Minnie, Manny and Moe are bankers in GeeWizLand. They like to lend folks money so that folks can take fun vacations and create a global economy. The 3Ms have been doing this for ages, and they like to lend money to a certain set of people, like Paris Heelton and Britney Spurs, with the odd movie star like Ms. Jolee thrown in.
Funky Fred comes along and tells the 3 Ms that he will be happy to guarantee these vacation loans for a small fee. Given the uncertainty over Paris' Jail time and Britney's asylum ambitions, this sounds like a good idea to the 3 Ms. Funky Fred also decides the he could lend to the 3 Ms. Moe is totally on board with Funky Fred on this. Ms. Winepub showed up at Moe's very ornate door seeking money for a rehab vacation, and Funky Fred's loan would help Moe lend a helping hand to Ms. Winepub.
Times are good. The 3 Ms meet at the 3Ms Factory every Friday night to gorge on Cheesecake and are happy to invite Funky Fred to the party. On one of these evenings, Funky Fred comes up with another innovative, brilliant idea. He will not only allow ordinary folks to become shareholders in his company Fred Smarts, but he will also borrow. There are only 3 bankers in GeeWizLand. The 3 Ms. Funky Fred points out that the smart and funky thing about this borrowing is that he will pick and choose loans, label them 3 As and let Minnie, Manny and Moe choose to lend against the 3 As.
Minnie, Manny and Moe look at each other, and like the idea. After all, Funky Fred is the smart guy running Fred Smarts. He is guaranteeing their loans. He is also a lender and has some insight into the loans business. Minne is thinking she will get to lend against the 3 As in Moe's bag- she had been eyeing superstar Winepub's rehab vacation deal that Moe pulled off. So, they begin to hammer out the idea over more Cheesecake. Funky Fred totally connects with Minnie when he mentions that he thought Ms. Winepub was such a good bet, he lent her money for her second rehab vacation. With the cha-ching at the opening of Pink Floyd's Money ringing in their ears, Funky Fred and Moe exchange high fives. Manny being Manny, throws a plate of cheesecake up in the air, high fives a cute hanger on, and then tosses it over to Funky Fred. Finally, to close the deal, Funky Fred announces, "Folks, I think this is the beginning of a beautiful friendship".
Sweet!
Of course, the 3Ms are not supposed to be thinking about Funky Fred's uncle. Sam. Sam is the Warren Buffet of GeeWizLand. Fred has always been careful to tell them that Sam's a great guy and everything, but Sam and he have no business dealings, and that Sam minds his own business. Anyhow, the 3 Ms think it can't hurt to have Sam for an Uncle.
So, times are good. With all the fees Minnie, Manny Moe and Fred are making, the innovative Friday night cheesecake parties at the 3 Ms Factory are the toast of GeeWizLand.
Along comes Boogie Howser, NPH. Brilliant guy. He wants to take a year long sabbatical- he wishes to go sailing around the world. He intends to use the money from his consulting gigs, playing doctor sans frontiers, mais avec un bateau, at his stopovers to pay the interest on the loan while he is away. Moe likes Boogie. Boogie's past record as GeeWizLand's superdoc is unbeatable. Moe thinks this loan is do-able and happily loans Boogie the money. Moe thinks Boogie is not just Type A, he is Type 3A and labels him as such (AAA). Same goes for the loan- now 3A (TM). Plus, times are good, aren't they?
Now, Boogie breaks a leg at a stopover in Timbucktu. He treats folks who cannot really pay much. He misses a payment, and then some. Ms. Winepub treats her rehab vacation like a vacation, her concerts bomb, and her second album completely bombs. Ms. Winepub is a gem of a person. She will repay her loan. Fred and the 3 Ms think she will too. She's a rockstar and a gem of a person. Really. However, for now she missed a payment and then some.
Moe realizes he is in trouble. Even if its only for now. First there was Boogie, a customer he had not dealt with previously, and now Ms. Winepub was tottering as well. All superstars, each one a gem of a person. Moe suddenly has no money to lend because he is not getting any money in. In fact, Moe may not be able to make his payments on the money he has borrowed.
Funky Fred and Moe have a quiet chat at their Cheesecake Party. Funky Fred realizes he is in trouble too, just like Moe. First there was Ms. Winepub. Now, he has to stand by his guaranty for Moe.
Funky Fred has no money. Not to lend. Not even to make payments to Minne and Manny who were counting on his funky 3 As. Minne and Manny haven't heard about Ms. Winepub's financial mess. They couldn't. To them, she had become one of the funky Type 3As- Not Just a Number, But a TLA (Trademark, Funky Fred). In any case, Minnie and Manny soon realize they are in trouble as well. Funky Fred can't pay them. Now, Minne and Manny can't lend. Maybe they wouldn't be able to make payments in the future either.
The 3 Ms realize that old methods like throwing cheesecake at each other to sort matters out would not work. True to their reputation, the 3 Ms will have to innovate yet again. Minnie, Manny and Moe now step out of their party and head over to Fred's Uncle's- Sam's- place.
Sleepy Sam is awakened by a 3 AM knock at his door and finds Minnie, Manny and Moe looking at him. Sam, a little drowsy, begins to think about why he should bother with the 3Ms. Really. Minnie, Manny and Moe dug their own grave. Then there was Funky Fred, who was always too smart for his own good. Who goes about calling himself Funky Fred? He is not sure if its the sleeping pills reacting with his face cream, but his mind plays a phantasmagoric reel of Young Sam punishing little Funky Fred for making too much money at his lemonade stand by spanking him and getting him to drop Funky from his name for the next school year. The reel ends abruptly with Funky Fred negotiating with the immortal line, "Funky by any other name... is still Funky".
What should Fred's uncle do? A simple "Get lost!" to the 3Ms should do the trick and he can deal with Fred (down with Funky! Now!) in the morning. However, it's not that simple, is it? There's a faint thought in his mind, barely registering thanks to the throbbing headache caused by The Friday Night Party People showing up at his doorstep in the middle of the night. Perhaps his businesses, and wealth are tied to the 3Ms fortunes.
Sam is huge. HUUGE. He has borrowings from the 3Ms. He also has borrowings from distant shores. The distant shores like GeeWizLand. Its a nice town of superstars that always have money. Now, unfortunately due to the Winepubs and the Howsers, the 3Ms don't have money. And the superstars don't have any money to spend because 3Ms aren't giving them any.
Oh and btw, somehow, folks outside GeeWizLand aren't buying Superstars anymore. The Superstars will find a way, but for now, they really have no money.
Sam's businesses, even stable businesses like EyeRuS (How much emptier can you pocket be today? Trademark EyeRuS), are now hurting because Superstars have no money.
Distant Shores (TM, The Distant Shores Syndicate) has a little camera behind a Curtain in Sam's House. It is watching Sam. What will Sam do? Can Distant Shores' members continue lending to Sam the same way they used to? Perhaps distant shores ("More Than That Syndicate") have no options either, just like Sam.
What does all of this mean? This looks like one big snake biting off its own tail! This may also look like something that GeeWizLand and distant shores may have to weather together. For how long? A year? A decade? A generation?
GeeWizLand knows little about distant shores. Those who do know about distant shores tend to go break a leg in Timbucktu. Distant shores think they know GeeWizLand and its Superstars, but that's an illusion as well. However, everyone has a sinking feeling that even if it is for a little bit- with faith in Superstars and everything- everyone is in it together.
What do you think?
Notes, the strange loop version:
1> This writing (Novella, as some readers have called it) is a slightly modified version of an extempore email sent out on July 12 to a MENSA message board to explain, in layman's terms, what was going on in the financial sector at that point of time.
2> This is an incredibly painful time for the financial services industry, the US economy and global economies. This article is just an abstraction. Its a starting point for readers to explore market structure and think analytically about decision making. If this encourages you to build complex models that tie in macroeconomics, consumer behavior and game theory, please drop me a line. We should talk.
3> A lot has happened since July 12. If you have read the story before-I will reemphasize that its not over yet. The article is structured so that you challenge every paragraph and analytically dig into the details. Your comments are welcome and critical.
4> Many thanks to Prof. Rosensweig for teaching.
5> I remember telling someone in a different context (the energy crisis) that if I could fix the problem tomorrow, I would do it. I really, really, really would like to. I can't. I can, however, do my best to learn. "We shall overcome!"
Wednesday, May 21, 2008
The Return of The Da Vinci Puzzle
Oh well, I was not inclined to publish the solution. However, as Spielberg said to Harrison Ford, or as Sly Stallone thought to himself, never say never.
The Original Da Vinci Puzzle is here:
http://randomjunkyramblings.blogspot.com/2008/03/da-vinci-puzzle-with-apologies-to.html
Sure beats calling it The Vulcan Mind Meld, doesn't it? Beats Einstein's Puzzle hands down? I suspect you will find clues in the puzzle once you see the solution.
Anyhow, I got some awesome, and some crazy, solutions. Below are two approaches I thought of. In the first one, we take liberties with the puzzle/ twist the puzzle rules a bit. In the second one, we incorporate optimization ideas to fit the rules of the game.
Approach 1:
1> Cut the sets of balls, so that each set of balls has a prime number numerator in a ratio that makes up its weight.
2> Identify the duplicate set of balls on weighing the balls once by using properties of prime numbers.
Approach 2:
1> There is no unique solution.
2> Avoid using the scale. Solve this on paper or write a program.
3> You would like to minimize the error in the solution. The error here is the possibilities of jars holding the duplicate set of balls. E.g. You could come up with a solution where you weigh set 1,2,3,4,5 and the weight indicates that the duplicate set could be 1,2 or 5,6. You could also come up with a set 3,4,5,6,7 where the duplicate set could be 3,4 or 5,6 or 8,9. You minimize error with the first solution, i.e. the first solution would be *more* correct.
4> As pointed out by a Mensan, you have to try out all the possibilities before you can identify the optimal solution set. Yep, welcome to the weary world of The Traveling Salesman. This is literally a "hard" problem.
Pick any solution string from the optimal set as your solution. At this point, if you haven't lost your cool already, you are welcome to also weigh this solution string on the scale. Once.
5> The same bright Mensan suggested a book for this kind of funky thinking:
Numerical Recipes in C: The Art of Scientific Computing
http://www.amazon.com/Numerical-Recipes-C-Scientific-Computing/dp/0521431085/ref=sr_1_4?ie=UTF8&s=books&qid=1211417740&sr=1-4
I don't have my copy of this book anymore. Its been a while since I was in engineering, however, I might borrow it if you have a copy.
6> Don't shoot me, I'm just the messenger for the crazy ideas running about in my attic. :-D
The Original Da Vinci Puzzle is here:
http://randomjunkyramblings.blogspot.com/2008/03/da-vinci-puzzle-with-apologies-to.html
Sure beats calling it The Vulcan Mind Meld, doesn't it? Beats Einstein's Puzzle hands down? I suspect you will find clues in the puzzle once you see the solution.
Anyhow, I got some awesome, and some crazy, solutions. Below are two approaches I thought of. In the first one, we take liberties with the puzzle/ twist the puzzle rules a bit. In the second one, we incorporate optimization ideas to fit the rules of the game.
Approach 1:
1> Cut the sets of balls, so that each set of balls has a prime number numerator in a ratio that makes up its weight.
2> Identify the duplicate set of balls on weighing the balls once by using properties of prime numbers.
Approach 2:
1> There is no unique solution.
2> Avoid using the scale. Solve this on paper or write a program.
3> You would like to minimize the error in the solution. The error here is the possibilities of jars holding the duplicate set of balls. E.g. You could come up with a solution where you weigh set 1,2,3,4,5 and the weight indicates that the duplicate set could be 1,2 or 5,6. You could also come up with a set 3,4,5,6,7 where the duplicate set could be 3,4 or 5,6 or 8,9. You minimize error with the first solution, i.e. the first solution would be *more* correct.
4> As pointed out by a Mensan, you have to try out all the possibilities before you can identify the optimal solution set. Yep, welcome to the weary world of The Traveling Salesman. This is literally a "hard" problem.
Pick any solution string from the optimal set as your solution. At this point, if you haven't lost your cool already, you are welcome to also weigh this solution string on the scale. Once.
5> The same bright Mensan suggested a book for this kind of funky thinking:
Numerical Recipes in C: The Art of Scientific Computing
http://www.amazon.com/Numerical-Recipes-C-Scientific-Computing/dp/0521431085/ref=sr_1_4?ie=UTF8&s=books&qid=1211417740&sr=1-4
I don't have my copy of this book anymore. Its been a while since I was in engineering, however, I might borrow it if you have a copy.
6> Don't shoot me, I'm just the messenger for the crazy ideas running about in my attic. :-D
So, what do you think?
Tuesday, May 06, 2008
Good Product Management and Delegation?
What does it mean to delegate as a Good Product Manager?
I found myself at a site on "Good Product Management" that recommended delegation as an important tool. This led to some discussion on what it means for a product manager to delegate responsibilities. Some bloggers were of the opinion that delegation is irrelevant to a product manager- he should be focused on helping others get their job done within an integrated product management framework.
I don't think the two viewpoints are different. They are really only approaching the same idea from different perspectives. Let me explain.
The Dynamic View: Fire, Fire Everywhere!
Having been involved in a massive product turnaround, I can attest to the fact that you will find ample opportunity to get sucked into fires (a reference to "The Goal"). These fires are not just specific high visibility issues, but also cases involving process variance/ risk factors where you have leaders defined and contingency plans in place. This is a dynamic view in product management reality.
Should you step into each case? What's the best way to do so? Or should you let the defined leader find a way? Should you step back and spend your time drafting "Integrated Product Management" processes for each exception?
The Static View: We Have a Magic Bullet!
At the other end of the product management spectrum, you risk complacency (we are only getting started here) when you think you have the right "chess pieces" with the right processes in place, when you are in a dynamic business environment that will unflinchingly sneak problems past your Product Management framework. This is the static view in product management reality.
A product manager may thrive with a static perspective of his role thanks to serendipity.
Dynamic Solutions to Dynamic Environments
While being a facilitator is important, a product manager is likely to find himself working toward building levers and an ecosystem that improves outcomes.
This is essentially change management. Similar to the decision making of a good general manager, who realizes the limitations of the environment he operates in, a good product manager will wisely exercise judgement in taking up tasks- even choosing tactical tasks- toward change.
What do you think?
I found myself at a site on "Good Product Management" that recommended delegation as an important tool. This led to some discussion on what it means for a product manager to delegate responsibilities. Some bloggers were of the opinion that delegation is irrelevant to a product manager- he should be focused on helping others get their job done within an integrated product management framework.
I don't think the two viewpoints are different. They are really only approaching the same idea from different perspectives. Let me explain.
The Dynamic View: Fire, Fire Everywhere!
Having been involved in a massive product turnaround, I can attest to the fact that you will find ample opportunity to get sucked into fires (a reference to "The Goal"). These fires are not just specific high visibility issues, but also cases involving process variance/ risk factors where you have leaders defined and contingency plans in place. This is a dynamic view in product management reality.
Should you step into each case? What's the best way to do so? Or should you let the defined leader find a way? Should you step back and spend your time drafting "Integrated Product Management" processes for each exception?
The Static View: We Have a Magic Bullet!
At the other end of the product management spectrum, you risk complacency (we are only getting started here) when you think you have the right "chess pieces" with the right processes in place, when you are in a dynamic business environment that will unflinchingly sneak problems past your Product Management framework. This is the static view in product management reality.
A product manager may thrive with a static perspective of his role thanks to serendipity.
Dynamic Solutions to Dynamic Environments
While being a facilitator is important, a product manager is likely to find himself working toward building levers and an ecosystem that improves outcomes.
This is essentially change management. Similar to the decision making of a good general manager, who realizes the limitations of the environment he operates in, a good product manager will wisely exercise judgement in taking up tasks- even choosing tactical tasks- toward change.
What do you think?
Sunday, May 04, 2008
Movies and Brands: Iron Man.
Iron Man made $100 Million over a weekend. i.e. about 3% of the US population has seen the movie across 2000 theaters.
While movie marketing/ branding/ merchandising is an interesting topic in itself, how many brands do you recall jumping onto the cobranding bandwagon?
While movie marketing/ branding/ merchandising is an interesting topic in itself, how many brands do you recall jumping onto the cobranding bandwagon?
Alternative Energy Investments: The BioFuels Story Continues.
There has been a lot of negative publicity on biofuels lately, given the context of high food prices. Here's an interesting story about second generation biofuels (energy from agriwaste) that would strengthen the hands of folks who would like a more realistic perspective on biofuels research:
http://sify.com/finance/debt/fullstory.php?id=14653698
The ruckus on Biofuels, from the Food vs. Fuel perspective, has been causing governments and institutions to rethink biofuels support:
1> http://uk.reuters.com/article/oilRpt/idUKN2232394520080422
2> http://thescotsman.scotsman.com/latestnews/-Brown-sounds-retreat-on.4009080.jp
My take on alternative fuels last year is here:
http://randomjunkyramblings.blogspot.com/2007/12/investments-in-alternative-energy.html
What do you think?
http://sify.com/finance/debt/fullstory.php?id=14653698
The ruckus on Biofuels, from the Food vs. Fuel perspective, has been causing governments and institutions to rethink biofuels support:
1> http://uk.reuters.com/article/oilRpt/idUKN2232394520080422
2> http://thescotsman.scotsman.com/latestnews/-Brown-sounds-retreat-on.4009080.jp
My take on alternative fuels last year is here:
http://randomjunkyramblings.blogspot.com/2007/12/investments-in-alternative-energy.html
What do you think?
Turnarounds and Distressed Company Decision Making
I remember thinking about incentives during a restructuring course I took a couple of years ago:Consider a pre IPO company whose value has been falling, and it's liquidation value is now close to its debt value (we have all heard of a startup that burnt through its cash). The management has an option to make an investment that is 3x as risky as any they have considered so far.
Should the management optimize:
1. shareholder value?
2. company value?
3. creditor value?
At an interesting case study session recently- amidst turnaround professionals- an insight was that the legal "line in the sand" varies from state to state, besides varying from country to country.
What do you think?
Should the management optimize:
1. shareholder value?
2. company value?
3. creditor value?
At an interesting case study session recently- amidst turnaround professionals- an insight was that the legal "line in the sand" varies from state to state, besides varying from country to country.
What do you think?
Tuesday, April 29, 2008
Conference Panel: Healthcare in India
Before stepping into the panel, I had a pretty linear approach to the Indian healthcare business:
1> Regulatory frameworks -> IP, constraints.
2> Industry-> market structures, services, and maturity of symbiotic players.
3> Consumers and Markets-> segmentation.
4> Companies-> Revenues-> Products and Services; Costs -> Manufacturing, Distribution, Licensing.
5> Distribution models.
Listening to the panelists from Pfizer, a healthcare company (Apollo Hospitals), a generic drugs company (Dr. Reddys) and Carlyle, I began to focus on 2 takeaways:
1> Healthcare Framework and Policy Innovation: The parallel here is the effort in the Indian Financial Services sector to develop frameworks given the results in the US financials "market". Another parallel is the U.S. music and film industry.
2> Business Model Innovation: Focused on access to healthcare services and drugs. Access equates not just to distribution, but also to price points. The parallel here is the U.S. (global?) music industry.
Healthcare Policy Framework Innovation
1> The "Access" Case for Policy Frameworks:
Amit Patel from Dr. Reddy's made an interesting point that bringing down price points in drugs, patented or otherwise, may bring about increases in revenues, due to increases in volumes of users. He carefully avoided talking about elasticity, but he was effectively driving at segmentation and managing the segments.
How is this thought process relevant in the Indian Healthcare context? Unlike in the U.S.- given the context of healthcare insurance in the US- the price of a drug effectively forms an access barrier to those who need it. Healthcare in India invariably involves a large out of pocket expense component.
These access issues roll up into a need for policy frameworks that develop multiple markets and multiple market entities that collaborate to serve unmet demand.
2> The IP Case for Healthcare Frameworks:
Again, the panelist from Dr.Reddy's pointed out that a patent regime is an outcome of a particular economic environment and necessity. The U.S. music industry is coming to grips with markets evolution driven by technology. Do the U.S. music and film industries need to rethink how they look at IP and its enforcement? Would they have to take another look in the future?
3> Policy Roadmaps:
How about applying an idea, similar to product roadmaps for agile development, that I suggested here:
http://randomjunkyramblings.blogspot.com/2008/03/conference-panel-infrastructure-in.html
Business Model Innovation
On distribution, the value chain, and operations, I find parallels between the music industry and the healthcare industry. Supply needs to innovate to stoke Demand.
More about this as I add to this blog.
1> Regulatory frameworks -> IP, constraints.
2> Industry-> market structures, services, and maturity of symbiotic players.
3> Consumers and Markets-> segmentation.
4> Companies-> Revenues-> Products and Services; Costs -> Manufacturing, Distribution, Licensing.
5> Distribution models.
Listening to the panelists from Pfizer, a healthcare company (Apollo Hospitals), a generic drugs company (Dr. Reddys) and Carlyle, I began to focus on 2 takeaways:
1> Healthcare Framework and Policy Innovation: The parallel here is the effort in the Indian Financial Services sector to develop frameworks given the results in the US financials "market". Another parallel is the U.S. music and film industry.
2> Business Model Innovation: Focused on access to healthcare services and drugs. Access equates not just to distribution, but also to price points. The parallel here is the U.S. (global?) music industry.
Healthcare Policy Framework Innovation
1> The "Access" Case for Policy Frameworks:
Amit Patel from Dr. Reddy's made an interesting point that bringing down price points in drugs, patented or otherwise, may bring about increases in revenues, due to increases in volumes of users. He carefully avoided talking about elasticity, but he was effectively driving at segmentation and managing the segments.
How is this thought process relevant in the Indian Healthcare context? Unlike in the U.S.- given the context of healthcare insurance in the US- the price of a drug effectively forms an access barrier to those who need it. Healthcare in India invariably involves a large out of pocket expense component.
These access issues roll up into a need for policy frameworks that develop multiple markets and multiple market entities that collaborate to serve unmet demand.
2> The IP Case for Healthcare Frameworks:
Again, the panelist from Dr.Reddy's pointed out that a patent regime is an outcome of a particular economic environment and necessity. The U.S. music industry is coming to grips with markets evolution driven by technology. Do the U.S. music and film industries need to rethink how they look at IP and its enforcement? Would they have to take another look in the future?
3> Policy Roadmaps:
How about applying an idea, similar to product roadmaps for agile development, that I suggested here:
http://randomjunkyramblings.blogspot.com/2008/03/conference-panel-infrastructure-in.html
Business Model Innovation
On distribution, the value chain, and operations, I find parallels between the music industry and the healthcare industry. Supply needs to innovate to stoke Demand.
More about this as I add to this blog.
Sunday, April 06, 2008
Music Industry, Technology, IP and Piracy: Is there anything in common? Really?
Multiplicity of Approaches.
News articles on the music industry below, indicate a mutiplicity of approaches (could it be serendipity?) being followed by firms to deal with flagging "old media" revenues:
1> http://www.nytimes.com/2008/04/04/technology/04myspace.html?_r=1&ei=5087&em=&en=7e63eb66cebb344e&ex=1207454400&pagewanted=print&oref=slogin
2> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/06/cncarphone106.xml&CMP=ILC-mostviewedbox
3> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/06/ccemi106.xml
The article, and my own experience in Technology Intellectual Property (IP), got me thinking again about the music industry's woes.
My contention is that any firm considering developing IP in emerging markets must think of the markets as hypercompetitive, where they compete with their own shadows. This might dovetail with the experience of some Venture Capital firms in Asia and Africa.
Allocate resources toward making money.
As some one who has created IP, in technology, in an emerging market, my generic stand (and I know this is likely to spark controversy) in that context is that protecting IP is subservient to growth- marketshare, ramping up revenues quickly, etc. Marketing muscle- either the company's own distribution strength, or the company's ability to create a network of stakeholders in its success- is critical towards finding a defensible niche where the company can build customer relationships/ stick. Allocate resources toward making money, instead of fighting a losing battle.
So What? How does this apply?
While the developed economy context is not the same, the first two articles seem to be a sign of parts of the value chain seeking to control the supply chain.
The third article seems to indicate a deepening of a pragmatic approach in the industry. An approach that focuses on developing models for making money off an economic reality, as opposed to fighting an (apparently) losing battle. For project management, I tend to advocate a multiplicity of approaches toward a more robust critical path. However, there are times when a multiplicity of approaches only serves to muddy waters.
Over the past few years, I have faced some flak for flatly advocating the pragmatic approach. What do you think?
News articles on the music industry below, indicate a mutiplicity of approaches (could it be serendipity?) being followed by firms to deal with flagging "old media" revenues:
1> http://www.nytimes.com/2008/04/04/technology/04myspace.html?_r=1&ei=5087&em=&en=7e63eb66cebb344e&ex=1207454400&pagewanted=print&oref=slogin
2> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/06/cncarphone106.xml&CMP=ILC-mostviewedbox
3> http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/06/ccemi106.xml
The article, and my own experience in Technology Intellectual Property (IP), got me thinking again about the music industry's woes.
My contention is that any firm considering developing IP in emerging markets must think of the markets as hypercompetitive, where they compete with their own shadows. This might dovetail with the experience of some Venture Capital firms in Asia and Africa.
Allocate resources toward making money.
As some one who has created IP, in technology, in an emerging market, my generic stand (and I know this is likely to spark controversy) in that context is that protecting IP is subservient to growth- marketshare, ramping up revenues quickly, etc. Marketing muscle- either the company's own distribution strength, or the company's ability to create a network of stakeholders in its success- is critical towards finding a defensible niche where the company can build customer relationships/ stick. Allocate resources toward making money, instead of fighting a losing battle.
So What? How does this apply?
While the developed economy context is not the same, the first two articles seem to be a sign of parts of the value chain seeking to control the supply chain.
The third article seems to indicate a deepening of a pragmatic approach in the industry. An approach that focuses on developing models for making money off an economic reality, as opposed to fighting an (apparently) losing battle. For project management, I tend to advocate a multiplicity of approaches toward a more robust critical path. However, there are times when a multiplicity of approaches only serves to muddy waters.
Over the past few years, I have faced some flak for flatly advocating the pragmatic approach. What do you think?
Conference Panel: Asset Allocation and Changing Times, the Limited Partner Perspective
I decided to check with a Limited Partner (LP) on the questions on deal size and frequency that I had thought about at this conference:
http://randomjunkyramblings.blogspot.com/2008/03/conference-panel-investing-in-india.html
Of course, the context was different, but my take was that the issues encountered were the same. The LP smiled and said they had a great CFO. Going back to the Gary Loveman post below, you can't argue with talent:
http://randomjunkyramblings.blogspot.com/2008/04/conference-panel-portfolio-value.html
A General Partner (GP) at another panel said that an LP had mentioned that a lesser return in the depressed economic environment would still validate their investment/ asset allocation. It would be interesting to get insights into the aggregated decisions made by GPs across PE firms and the outcomes down the line.
The Usual Disclaimer: This is purely a knowledge sharing resource and I have been careful to protect panelist interests. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
http://randomjunkyramblings.blogspot.com/2008/03/conference-panel-investing-in-india.html
Of course, the context was different, but my take was that the issues encountered were the same. The LP smiled and said they had a great CFO. Going back to the Gary Loveman post below, you can't argue with talent:
http://randomjunkyramblings.blogspot.com/2008/04/conference-panel-portfolio-value.html
A General Partner (GP) at another panel said that an LP had mentioned that a lesser return in the depressed economic environment would still validate their investment/ asset allocation. It would be interesting to get insights into the aggregated decisions made by GPs across PE firms and the outcomes down the line.
The Usual Disclaimer: This is purely a knowledge sharing resource and I have been careful to protect panelist interests. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Conference Panel: Portfolio Value Creation by Improving Business
Gary Loveman, Harrah's Entertainment, was asked about how he would act if slowing economic conditions impact business despite his assertion that economic conditions would not really impact his business.
He said he had the leeway to adjust his planned capital spending (approx. $4BN) to meet debt commitments.
It was interesting to note that he would rather kill/ delay Capex than sell assets to meet commitments.
I did a quick mental check of this insight against his assessment that growth in the industry came from M&A for assets, and that the WACC was currently pretty high within the firm. It fit.
Later, I asked a panel of General Partners (GPs) how frequently, in their substantial experience of dealmaking and investing, did the GPs have such contingency planning (operations risk management, really) conversations with the portfolio company senior management? Did such conversations impact the outcomes of their investments?
The response, as I am beginning to expect from superb panelists, provided insights into GP operations.
On a tangent, a panelist was of the opinion that folks like Gary Loveman operate at a different level. As the one who raised the question, I was inclined to agree. What an insight into talent- all from a simple question put to a CEO!
The Usual Disclaimer: This is purely a knowledge sharing resource and I have been careful to protect panelist interests. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
He said he had the leeway to adjust his planned capital spending (approx. $4BN) to meet debt commitments.
It was interesting to note that he would rather kill/ delay Capex than sell assets to meet commitments.
I did a quick mental check of this insight against his assessment that growth in the industry came from M&A for assets, and that the WACC was currently pretty high within the firm. It fit.
Later, I asked a panel of General Partners (GPs) how frequently, in their substantial experience of dealmaking and investing, did the GPs have such contingency planning (operations risk management, really) conversations with the portfolio company senior management? Did such conversations impact the outcomes of their investments?
The response, as I am beginning to expect from superb panelists, provided insights into GP operations.
On a tangent, a panelist was of the opinion that folks like Gary Loveman operate at a different level. As the one who raised the question, I was inclined to agree. What an insight into talent- all from a simple question put to a CEO!
The Usual Disclaimer: This is purely a knowledge sharing resource and I have been careful to protect panelist interests. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Monday, March 24, 2008
I am not selling the product...
...just the message:
http://www.youtube.com/watch?v=m5xCGZuvhWI
Notes on first impressions of the ad seen on CNBC during Lunch:
1> The background score by Gustavo Santaolalla has parallels with Indian music.
2> Its a 90 second spot. The rationale? Apparently, time is the only true luxury.
3> This is an interesting brand initiative- and is the first Louis Vuitton TV ad ever.
What do you think?
http://www.youtube.com/watch?v=m5xCGZuvhWI
Notes on first impressions of the ad seen on CNBC during Lunch:
1> The background score by Gustavo Santaolalla has parallels with Indian music.
2> Its a 90 second spot. The rationale? Apparently, time is the only true luxury.
3> This is an interesting brand initiative- and is the first Louis Vuitton TV ad ever.
What do you think?
Conference Panel: Investing in India- The Maturation Process, whats next?
The amazing panel, drawing from PE, management consulting and IB firms emphasized that they are taking a long term view of the Indian market and are doing well thought out due diligence on deals to make the best decisions for the funds. Deals have been quite competitive and negotiated.
This approach raises a line of thought regarding the non-core (?) activities of a PE fund. Why am I calling them non-core? Well, most folks would say that the only core activity for GPs is to find good investments and fund them, the rest can go for a toss. Performance is the cornerstone of success. The "official" lore is that the high performing GPs do not really have to bother much about non-core activities.
This query on capital deployment and how much GPs think about it is still worth considering as it seems to be closely tied with fund raising. The response to the query by the GPs can be that they do not really care about capital deployment as they tap into their funds on an deal by deal basis. However, I am inclined to think the GPs have a sense of what the LPs are thinking of when LPs make investments in the PE funds. Sounds like business development, doesn't it?
Anyhow, non-core or otherwise, lets dig into some aspects of the PE business. How do the GPs:
1> Handle uneven deal flow?
2> Manage different relative risk levels across deals?
3> Manage different rates of returns on their deals?
4> Set LP expectations on deal flow and deal sizes, across business environments, while still keeping LPs on board?
What do you think?
From the LP point of view, How do LPs:
1> Manage cash (e.g. lack of predictability in drawdowns)?
2> Allocate capital, from the asset allocation policy and portfolio management point of view, between drawdowns, and for drawdowns?
What do you think?
This approach raises a line of thought regarding the non-core (?) activities of a PE fund. Why am I calling them non-core? Well, most folks would say that the only core activity for GPs is to find good investments and fund them, the rest can go for a toss. Performance is the cornerstone of success. The "official" lore is that the high performing GPs do not really have to bother much about non-core activities.
This query on capital deployment and how much GPs think about it is still worth considering as it seems to be closely tied with fund raising. The response to the query by the GPs can be that they do not really care about capital deployment as they tap into their funds on an deal by deal basis. However, I am inclined to think the GPs have a sense of what the LPs are thinking of when LPs make investments in the PE funds. Sounds like business development, doesn't it?
Anyhow, non-core or otherwise, lets dig into some aspects of the PE business. How do the GPs:
1> Handle uneven deal flow?
2> Manage different relative risk levels across deals?
3> Manage different rates of returns on their deals?
4> Set LP expectations on deal flow and deal sizes, across business environments, while still keeping LPs on board?
What do you think?
From the LP point of view, How do LPs:
1> Manage cash (e.g. lack of predictability in drawdowns)?
2> Allocate capital, from the asset allocation policy and portfolio management point of view, between drawdowns, and for drawdowns?
What do you think?
The Usual Disclaimer: This is purely a knowledge sharing resource and I have been careful to protect panelist interests. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Conference Panel: Selling to the Indian Consumer
Amazing insights from consumer electronics and retail consulting. A consumer electronics company was focusing on the top 30 cities, despite indicates that the rural market had as much disposable income as the urban market. This raised a couple of questions from me during the panel.
What kind of innovations in distribution do we see in India in the next 5 years?
What do you think?
Can the Consumer Electronics companies contribute to more active usage of the cellphone screen? This query had an interesting response and an unexpected fact component- India uses only about a third of the spectrum that the US currently uses.
Does the Indian cellphone consumer need an industry association comprising of consumer electronics companies, software companies, infrastructure companies and investors to encourage more active usage of the cellphone screen?
What do you think?
What kind of innovations in distribution do we see in India in the next 5 years?
What do you think?
Can the Consumer Electronics companies contribute to more active usage of the cellphone screen? This query had an interesting response and an unexpected fact component- India uses only about a third of the spectrum that the US currently uses.
Does the Indian cellphone consumer need an industry association comprising of consumer electronics companies, software companies, infrastructure companies and investors to encourage more active usage of the cellphone screen?
What do you think?
The Usual Disclaimer: This is purely a knowledge sharing resource. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Keynote address: Vinod Dham, NEA- Indo-US Ventures
The amazing keynote by Vinod Dham has parallels with a keynote (different conference) by Alan Patricof, Managing Director, Greycroft, with respect to his experience in Venture Capital in Africa. Vinod was bullish about opportunities in India.
His talk raise a query. What is the difference in managing a $200 MM fund in Silicon Valley vs. a $200 MM fund in India?
On the dealmaking end:
1> Do you do more deals?
2> Do you invest in companies that are more late stage?
3> Do you invest in companies that can bring in and ramp up revenue pretty quickly?
From personal experience, Indian startups are able to keep costs pretty low.
On the investing end, what kind of support do you need to provide to startup leadership?
The Indian technology clusters- Mumbai, Delhi, Bangalore, Hyderabad, Chennai- are not as mature as the Silicon Valley cluster.
What do you think?
His talk raise a query. What is the difference in managing a $200 MM fund in Silicon Valley vs. a $200 MM fund in India?
On the dealmaking end:
1> Do you do more deals?
2> Do you invest in companies that are more late stage?
3> Do you invest in companies that can bring in and ramp up revenue pretty quickly?
From personal experience, Indian startups are able to keep costs pretty low.
On the investing end, what kind of support do you need to provide to startup leadership?
The Indian technology clusters- Mumbai, Delhi, Bangalore, Hyderabad, Chennai- are not as mature as the Silicon Valley cluster.
What do you think?
The Usual Disclaimer: This is purely a knowledge sharing resource. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Conference Panel and Keynote: Managing Local vs Global
Ravi Venkatesan, Chairman, Microsoft India, talked about how the Indian market and how its challenges were different from those in the US.
How does the local leadership deal with a global company's priorities while "tending" to the local market? Does the company's DNA allow for a global/ local market trade-off based on the type of market (socio-politico-economic environment)?
What do you think?
How does the local leadership deal with a global company's priorities while "tending" to the local market? Does the company's DNA allow for a global/ local market trade-off based on the type of market (socio-politico-economic environment)?
What do you think?
The Usual Disclaimer: This is purely a knowledge sharing resource. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
Conference Panel: Infrastructure in India
Commenting on the delays in getting infrastructure projects off the ground toward creating a project pipeline, G.V.Sanjay Reddy, Vice Chairman, GVK Industries Ltd., pointed out that it is more important to get decisions made in getting infrastructure projects off the ground as opposed to developing detailed policy frameworks. That's the 30,000 foot eyeview of the problems in execution.
This, coming from an India company, seems to make sense. The India company has expertise in managing vested interests throughout the project lifecycle and a greater appetite for management risks.
Could there also be a realization that once Indian firms develop core capabilities and differentiate, a network of firms/ contractors/ sub-contractors model would become feasible?
Another thought that I would have like to pose to the policymakers is the consideration they give to developing policy roadmaps.
What do you think?
This, coming from an India company, seems to make sense. The India company has expertise in managing vested interests throughout the project lifecycle and a greater appetite for management risks.
Could there also be a realization that once Indian firms develop core capabilities and differentiate, a network of firms/ contractors/ sub-contractors model would become feasible?
Another thought that I would have like to pose to the policymakers is the consideration they give to developing policy roadmaps.
What do you think?
The Usual Disclaimer: This is purely a knowledge sharing resource. Ethically, context is everything, and I will gladly retract anything that affects the parties mentioned. Call this my mini OpenCourseWare, if you will, where Open signifies life experiences.
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