markets
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Reedy shares a commercial that is going to air later in the week. She talks about eBay's vision - providing a global online trading platform - and the value proposition - making inefficient markets efficient by bring back the fun and the passion.
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eBay is in 28 countries and the company is looking into cost effective ways to enter new markets, says Reedy. PayPal will attack Europe next year. Typically, eBay, being global, can enter new countries easily; in the case of PayPal it will take more effort. When making an acquisition eBay lets the business strategy define the process or platform. Over time they look for ways to move the country onto the platform as long as it does not put ...more
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This lecture gives a brief history of the young field of financial theory, which began in business schools quite separate from economics, and of my growing interest in the field and in Wall Street. A cornerstone of standard financial theory is the efficient markets hypothesis, but that has been discredited by the financial crisis of 2007-09. This lecture describes the kinds of questions standard financial theory nevertheless answers well. ...more
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Recently, Komisar has noticed that the IPO market is reopening and VCs are becoming anxious to invest. There are a number of companies lined up to go public. There tends to be a lag in the markets of step technologies, while the customers catch up to the advance, but they do catch up and a large amount of value is created in the process, he says.
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All of the sources of funding (capital) for a business.
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This lecture explains what an economic model is, and why it allows for counterfactual reasoning and often yields paradoxical conclusions. Typically, equilibrium is defined as the solution to a system of simultaneous equations. The most important economic model is that of supply and demand in one market, which was understood to some extent by the ancient Greeks and even by Shakespeare. That model accurately fits the experiment from the last...more
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Frank Levinson's Top 10 Things You Must Have to Start a Business. These include: 1) Spending everything on a good team and equipment 2) Letting people know the company is in business 3) Raising limited capital 4) Taking stock of a company and determining its needs 5) Being open to opportunities 6) Having a supportive family 7) Targeting mass markets, not just niche markets 8) Having confidence in new ideas 9) Acquiring an...more
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Innovation will drive the next cycle, says Estrin. Startups don't succeed in validated markets; the role of startups is to create a new market, she says. As an entrepreneur, you have be able to take that risk in an unvalidated market, she adds.
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In addition to a suite of banking products, a financial institution for a growing business offers numerous other services, says Silicon Valley Bank CEO Ken Wilcox. Way beyond simple checking and savings, a great commercial bank can offer a network of resources, such as advice on the logistics of company formation. And far beyond money management, the bank offers a powerful Rolodex of indispensable capital resources, a slew of service provi...more
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We previously established that the reality of scarcity invalidates Marx's core idea of superabundance, and mortally wounds his theory. Certainly, his historical predictions about worker-led socialist revolutions around the world were off-mark. Today, Professor Shapiro presents more of the shortcomings of the Marxian tradition. These include Marx's failure to account for the ability of the state to buttress capitalism and stave off the cond...more
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Tech companies deposit about seven times the amount that they borrow. And at Silicon Valley Bank, recalls CEO Ken Wilcox, the methodology his venture has used to invest these excess deposits is a micro-history of commercial banking itself. Learn the lessons of the bank's lending in the 1980's to 1990's, and its investment in real estate developers and under-served niche markets. Learn also how these plans failed to provide financial stabi...more
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Priceline co-founder Jesse Fink explains to entrepreneur Steve Blank how his early company was a technology-enhanced solution to a business model - and not a real technology play - that succeeded in providing for both business and consumer. Fink brings these same solutions to his current investment firm, MissionPoint, who believes it will be business models and capital markets that find environmental solutions, and not the technology itself.
