Boldly embracing one's vowel-deficient ways

I saw somebody on Twitter quote the comedian Albert Brooks, to the effect that Yahoo should next spend some money to buy a vowel (Tumblr being a second, prominent acquisition of a company that lacked the letter "e" in its name; Flickr being the first).

CaptureSo I thought this Flickr ad, which I got by mail today, was especially funny.

If you don't got it, flaunt your lack of it!

House bill to impose a deadline on SEC JOBS Act rulemaking is narrower than you might think

My ears perked up when I heard that the House of Representatives had passed another bill introduced by Representative Patrick McHenry of North Carolina.

Rep. McHenry appears to be mastering the craft of getting bills through with wide bipartisan support. This bill, HR 701, passed the House by a vote of 416 to 6, which is as strong or stronger than the vote supporting his original investment crowdfunding exemption (which, alas, never made it into the JOBS Act - the Senate substituted a different equity crowdfunding exemption, and not one that any rules will be able to implement, in my view).

7270825858_12af2ac8b7_z (1)Rep. McHenry knows how to be partisan, too, however. He dishes out more than his share of rhetorical outrage over how long it is taking the SEC to implement those provisions of the JOBS Act that Congress specified should not take effect on the passage of the law, but instead should wait on rulemaking for implementation.

That rhetoric is tapped into in the messaging around HR 701. Here's an official statement from Rep. McHenry's office about the bill:

“'To cultivate a stronger economy, we have to build a more vibrant marketplace for our startups and entrepreneurs, which is what this legislation is all about,' said Congressman McHenry. 'It’s critical that the SEC finally start to implement the JOBS Act – a bipartisan bill that was signed into law more than a year ago.  Small businesses and entrepreneurs are starving for capital, and this legislation simply sets a firm deadline for the SEC to get its job done.'”

But in fact the bill only specifies a deadlne of October 2013 for the SEC to write rules on the changes to Regulation A that were authorized under Title IV of the JOBS Act. The bill does not speak to the lack, to date, of rules to implement the JOBS Act Title II lifting of the ban on general solicitation for Rule 506 offerings that are limited to accredited investors. Nor does it address implementation of non-accredited investment crowdfunding under Title III of the JOBS Act. Congressional deadlines to get rulemaking done on those initiatives have been missed.

A re-vitalized Reg A, with a cap of $50 million, could end up being a big deal. But it appears to have been targeted as the vehicle for this bill because the original JOBS Act never specified a deadline for Reg A rulemaking.

Photo: Digital Game Museum / Flickr.

Short videos from Maker Faire 2013

Another beautiful, sunny day in San Mateo!

I put about a dozen, short videos taken yesterday and today onto a YouTube playlist.

This one (below) is probably the sweetest - a couple interacts across a kind of windmill made of mirrors.

Maker Faire 2013 - Saturday

It's sunny and 70 degrees in San Mateo as I write this at 3:49 pm.

I'm at Maker Faire, volunteering for friends and, by turns, wandering about.

Maker Faire 2013 - Saturday

Pictured are a few of the happenings I've seen so far today.

The most interesting lend themselves to short video, which I am posting to YouTube via the Capture app, which is a godsend.

Maker Faire 2013 - Saturday

The shiny new Asus server, I want to swap out my Dell at work for that. The letterpress pictured is steam powered!

Maker Faire 2013 - Saturday

I had a great roast pork sandwich from a food truck that said it was from San Francisco, General something-or-other. Taiwanese, the truck said. Steamed pr baked. The presentation was superb, as good as I'd expect at the foodie places I like in Seattle. The top of the bun was off center, to showcase a layer of meat on the bottom bun, topped by a thicket of cut cabbage and mustard seed. Was delicious before I took a bite. That's not pictured.

Maker Faire 2013 - Saturday

Speed and distance

During the flight down from Seattle to San Francisco this morning, I watched a commercial jet flying north, the opposite direction. It was moving fast, much faster than I'm used to seeing planes fly when watching from the ground.

Hard to say how far the fast jet was from where I sat, but, from its relative size in my eye, it looked farther than jets typically fly over Seattle approaching SeaTac.

I told myself that the fact that my plane was moving in the opposite direction accounted for (at least some of) the impression of the other jet's unusual speed. That is, although I felt I was viewing from a fixed position, in fact I was not. The two planes were pulling away from each other, but my eye was attributing all of the speed to the other plane.

But that other plane still looked like it was moving three times faster than normal.

Speed and distance

Some minutes later, I focused my attention to a dotted line of waves on the California coast. For many beats, they were as still in my eye as they are in this picture. Even when I finally picked up some movement, it was within a single wave, not the entire formation.

Weird. I know waves move slowly, even from the perspective of pier or beach, but I can't account for the perception of stasis from, what, 37,000 feet.

More notes from the plane trip: as we approached the San Francisco airport from the south, the plane rode along the edge of a cloud bank, such that I could see the bright sky and white topped surface of the clouds in the top half of the frame, as it were, and the marsh and muddy water of the overcast East Bay at the bottom. It was oddly beautiful, and a study in the diffraction of light.

I wished I had the gumption to snap a photo of that, but the protocol of course is to have your phone shut down during landing (think of all the landing photos that will be on Flickr once that rule is changed!). Then again, the camera wouldn't have been able to deal with the contrast.

Maker Faire 2013

Sorry for the lateness of today's post.

Tomorrow I'm heading to San Mateo for the 2013 Maker Faire.

It's a working visit, so I won't be at total leisure to blog about everything I see; but I'm sure my posts for the next few days will center around the Faire.

Today's picture is not about the Faire, not directly. It's a detail from a Ken Kelly painting, Fairy Tale, 1988, that I spied this afternoon in the hallways of the Perkins Coie law firm in Seattle, where I am attending a reception.

Maker Faire 2013

Light reading

Last night I participated in a "legal best practices" panel at the new WIN Reactor space (near the Seattle Art Museum Sculpture Park).

I'm just getting to know about the Reactor program. Its head, Chip Hallett, described it as a "launch incubator" for startups in the game industry.

WIN reactor legal best practices panelThe panel was a mix of lawyers and game company founders/CEOs. As anyone would expect going in, the founders/CEOs were more interesting to hear. (That said, Seattle attorney Scott Warner did an uncommonly good job of moderating the discussion; he'd be a good moderator even when the topic isn't legal).

I think the whole show (long – 2 1/2 hours?) is preserved for posterity on video - I can actually see it being a good resource for first time game startup entrepreneurs, because Scott was so careful to cover all the basic topics - so I sure as heck won't attempt anything like a recap here.

What I do want to remark on briefly: the answers the CEOs/founders gave to one of Scott's questions, to the effect of, do you read all the legal contracts that affect your business?

Bob Berry of Uber Entertainment, Matt Wilson of Detonator Games, and Randy Chung of Zhurosoft, each said, yes, of course, every line, you have to.

I knew this is the answer Bob would give, as I and my firm represent Uber and know his style. But I was impressed to hear Matt and Randy equally adamant.

Sensing that he had hit an especially rich vein in the silver mine, Scott pressed everyone for examples of where contracts go wrong, issues presented or sections and legal contracts to be especially wary of. Everyone had great examples. We got into not just legal drafting "gotchas" but also the nitty-gritty of payment terms and how important it is to spell out unspoken assumptions.

If I come across a link to the video archive, I'll try to remember to post it here.

I'll leave you with a link to a video calling card that Bob kindly created for me in the span of about 90 seconds, using a fun app created by a startup which is part of the current WIN/Reactor class, Freak'n Genius. It had me in stitches.

Photo courtesy of Julian Allen, REACTOR community manager.