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I had brought in Cesar and another business guy who was a Harvard MBA, and we had all these VC firms knocking on our door I was an engineer The MIT way of doing things is that you delegate to the experts If you are riding in a car with five guys and it breaks down and you are a math major, you don t get out and start poking around with the engine if there s a mechanical engineering major on board So I felt like, OK, these VC firms are all claiming they are going to provide added value and that their money is different, but it s hard for me to evaluate these things, so I ll just delegate it to these two guys who are MBAs That s what they re supposed to know about.

Probably the VC firm that we should have picked was called Summit They were very humble; they said, Look, we don t know how to run your company We know how to go to institutional investors and get their money, and then we invest it in management teams with a track record of profitability, like yours We re not going to tell you what to do and tell you that we re going to recruit everybody for you because we don t know how to do that We know how to get.

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money from pension funds, give it to you, and then talk to an underwriter along the way There were these two VC firms Greylock and General Atlantic Partners that were among the group, and they would send their senior partners by to schmooze us and talk about their successful track records building companies and management teams I thought to myself, I don t want to be CEO of this company where I have to repeat myself and tell people what to do and travel everywhere It would be so nice to just be the CTO and have a brilliant management team installed in my place So it was very attractive to me, and our MBAs said, Yeah, these Greylock and General Atlantic guys, it s a bigger name, and it will really help us.

Carlton: And if they don t have Internet access, then I can give them they have to give me the serial number of the machine, and I can give them an unlock Smolin: Ah, OK So let s see, the pricing, you ve got the three versions how did you decide on your pricing Carlton: I asked the Beta testers what they would expect to pay for a program like this I think when I first started I thought like $149 was a good price, but then, based on some feedback early on, I kind of changed it to $8995 because of my target market, the people, the beaders Something about going over $99 scared them away I don t know why I don t know what it is.

Figure 5-26. Properties of an imported XML file If the XML file contains an object of a class that the content pipeline knows how to serialize and deserialize to/from a binary file, you can immediately load the object into a variable in your LoadContent method. In this recipe, however, the MapData class is a custom class, so you ll have to define your own TypeWriter.

Slightly worse terms than Summit actually, with the deal Summit was offering, I could have sold some of my shares to them, taken some cash out, and had some money, and in retrospect that would have been a very smart idea Especially if you are going to get into conflict with a venture capitalist later, you don t want to be a salary man with $130,000 a year while they have billions of dollars in assets So I let them decide, and they chose Greylock and General Atlantic Which might have been OK, except that the senior partners in those firms were so rich that they didn t want to spend time sitting on the boards of companies they were investing in Why should they They had six houses each and Gulfstream jets to get among all their houses They were going to the World Economic Forum in Davos.

Why would they want to sit at my board meeting I used to sit at my board meetings, and I would think to myself, This is my own company and I m bored out of my skull The VCs delegated very junior people to sit on our board One guy had been a management consultant at Bain He had never run a company; he never had profit-and-loss responsibility, which is the key And he never started a company, and that was true with the General Atlantic board guy as well He had been a middle manager at a big company before he went to General Atlantic We got these guys on our board who just don t know anything about running a business Fundamentally, if you have a lemonade stand, you have to sell your lemonade for more than it costs you to make.

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