What is it like to attend Rice?

I was recently asked to answer the question, “What is it like to attend Rice?” on Quora. My answer:

There is no better word than “magical” to describe my experience as an undergrad at Rice University. Indeed, Rice often invites comparisons with Hogwarts due to its Residential Colleges (much like being sorted into Hogwarts Houses), its students who take pride in being a little different, and perhaps even its campus (complete with a dungeon-like labyrinth of steam tunnels underneath the “castle” grounds). The magic I found there, though, is much deeper.

Having grown up in the Washington, DC area, I didn’t know what to expect when I first visited Rice: dust, tumbleweeds, and saloons? Cowboys on horseback? I had never really been to Texas before and my impressions were shaped by what I had seen in popular media. Imagine my surprise when I walked through the main entrance for the first time, canopied by beautiful live oaks, and discovered a lush, verdant campus with amazing Byzantine architecture.

It was a 300-acre oasis right in the heart of a thriving metropolis, just down the street from many of the world’s most significant companies and just across the street from the world’s largest medical center. Walking distance from Houston’s Museum District and just a few hops on the light rail from the Theater District and all the major sports arenas, there was always so much going on. And yet the hedges around Rice’s borders seemed to protect it magically from the frenetic energy that surrounded it. It was a place of tranquility, a place where I could see myself reading a book under a tree in the endless green space of quads, courtyards, and grounds.

When I walked into the Computer Science building without an appointment, one of the faculty invited me into his office and chatted with me for some time about the curriculum, their goals for CS grads, and what life as a CS major would be like (more time in computer labs than reading books under trees!). I was surprised by this openness of faculty to engage with students – or even prospective students in my case – but the CS department wasn’t unique. There was a friendliness about Rice that I just didn’t find at any of the other schools I visited. I was hooked. After I received my acceptance letter, I barely even glanced at the letters from the other schools to which I had applied.

When I arrived on campus as a freshman, I quickly realized that most of the other students had been attracted to Rice for the same reasons – it was elite but not elitist. My classmates were absolutely brilliant in all sorts of ways, but everyone was modest, open, and friendly. My residential college quickly became my home away from home as we all worked hard and played hard together.

Academically, I found Rice really challenging. I double-majored in computer science and electrical engineering, so I was already taking a heavy work load – but then I would have been remiss not to take advantage of the amazing course offerings in the humanities, arts, and literature as well. It was a struggle to keep up with it all, but I wasn’t alone. Rice’s achievement-oriented culture meant that many other students were also pushing the boundaries of what was reasonable. Rice let us do it, though, and we banded together to help each other out.

As I labored through my classes, became involved in student government, started some clubs, and founded my first startup (and slept very little) over the course of my undergrad career, one thing that really stuck out to me was the Rice administration’s trust and empowerment of its students. We were really treated like adults. Our classes were taught by faculty, not grad students, we worked on research directly with those faculty, and even dined and socialized together through the residential colleges – some faculty even lived with us on campus (our College Masters, like a Hogwarts Head of House). Students were entrusted to enforce the honor code, which added integrity to our degrees, and numerous times major problems or policy decisions were left to student leadership to solve.

This trust and responsibility made for a unique experiential development environment. I learned an incredible amount in my classes, of course, but my most valuable development happened outside of the classroom: relationships, leadership, teamwork, communication, organization, prioritization, and general find-a-way-to-make-something-happenness. I don’t understand people like Peter Thiel who argue for students to forego a college degree. I think they miss the point of the real value created during one’s time at a university, and I suspect that they didn’t have a magical experience like this one.

Now that it has been 15(!) years since I matriculated as a freshman at Rice, one thing is clear. The bond that was forged between so many smart, different, honest, humble students going through a unique development experience together lasts forever. I have lived around the world and every time I meet another Rice alum there is a warm glow and an instant desire to connect that stems from this bond.

Many others could probably articulate it better (and more concisely) than I have, but I hope you can tell by now that the story of Rice is a love story for me – from falling in love with the campus during that first visit to falling in love with another student who would one day become my spouse, from developing a career in entrepreneurship that I love to being inspired by professors to devote my career to creating social – not just economic – good. So perhaps the comparisons between Rice and Hogwarts aren’t that far off – after all, we learn in the Harry Potter books that Love is the most powerful magic of all.

A Meaningful Award for Smart OES

Yesterday we were honored to receive first place in the Goradia Innovation Prize competition!

When I first announced that I would move back to Houston from Switzerland to launch Smart Office Energy Solutions, people thought I was crazy. “Why Houston?” “They don’t have startups there – just big oil companies!”

I assured them – or maybe I was just assuring myself – that Houston was a great place for starting up a venture. There’s a talented workforce here, a business-friendly political context, and the cost of living is just so, so, low. Plus, I contended, there is a nascent-but-growing support ecosystem for startups.

Well this award is proof of that. Smart OES has won many awards in the past, but I have often been somewhat cynical of their value. The recognition has been nice, but they haven’t done anything to advance our venture. Our joke has been that, if our company completely fails, we’ll dole out one award to each investor – those would be some expensive plaques!

This award, however, came with a cash prize, making it very helpful in advancing our venture! This shows how Houston is taking entrepreneurship seriously and literally putting its money where its mouth is. As I stated in my presentation, we have grand ambitions to create a massive worldwide market but we need help to achieve our lofty goals. Well, this helps.

So I offer my sincere thanks to the Houston Technology Center, its staff, the Goradia family who funded the prize, and the judges who selected us. You are helping foster entrepreneurship in Houston in very meaningful ways! And I offer my congratulations to the other Goradia Innovation Prize finalists. It is an honor to be counted among you and I hope that we will all become resounding success stories!

Now . . . back to working hard to live up to the hype!

The First Cleanweb Hackathon in Texas

Last weekend marked the culmination of a special project I’ve been working on for many months: bringing the Cleanweb Hackathon to Houston!

Cleanweb is a global movement of people developing IT-based “clean” technologies instead of the traditional “cleantech” like solar and wind which require massive investments and decades to commercialize. The purpose of a cleanweb hackathon is to bring together talented developers/engineers who don’t usually work together, stimulate them with data and APIs that they’re not used to working with, and give them a weekend to see what kinds of innovative new cleanweb software they can develop.

There have been some very successful cleanweb hackathons in San Francisco, NYC, and Boston, but nothing in Texas. My co-organizers and I thought Houston would be a great location for such an event. Houston boasts world-leading companies in each of the major cleanweb categories (energy, food, water, waste, transportation), so we knew we could bring together people with relevant knowledge and skillsets. Our challenge would be to coax them away from their families or big company jobs for the weekend.

We decided to host the event at Rice University in Duncan Hall, the Computer Science building. Our sponsor, the Rice Center for Engineering Leadership (funded by Rice alum and legendary VC, John Doerr), provided us with this space. Through online and word-of-mouth advertising, we attracted 55 participants to sign up. Friday evening everyone gathered at Duncan Hall to kick off. After some brief intro and ice breaker activities, we introduced everyone to the data we were providing. In addition to the publicly available data from government organizations and national sponsors like Genability, we were fortunate to receive contributions from Waste Management, METRO, and Rice’s own Shell Center for Sustainability. These proprietary data sets presented a unique opportunity for our participants to build very practical solutions to very real problems.

Next we opened up the floor for participants to pitch their ideas: what they they wanted to work on for the next 48 hours. This was followed by mingling, Q&A, and building teams around each idea. Development wouldn’t start in earnest until Saturday, so we took everyone out to the Gingerman for “team bonding” before all the work began.

Saturday morning people arrived early and got to work. It was amazing to see students, industry professionals, NASA engineers, and public servants working alongside each other. Different backgrounds, experiences, skillsets, problem-solving approaches, etc. all combined together for some very innovative solutions. The teams worked all day, nourished by food donated by MyFitFoods, and well into the night. Many teams actually worked all through the night as well or slept onsite in shifts.

Sunday morning the teams wrapped up their work and in the afternoon we held final demos and presentations, which were live-streamed over the Internet. We brought in a crack team of judges from many disciplines to determine which of our seven teams had accomplished the most in such a short span of time.

I was really impressed with all of the teams, but the winners were:

1st: C02 Commuter Contributions, a web app to motivate people to make more sustainable commuting choices by translating their greenhouse gas contributions into “real” terms. One of the reasons this team won was really beautiful design.

2nd: Amazing Houston, a web and mobile app to show public transportation users all the cool places they could visit easily from intermediate stops en route to their destination. This pulled real-time GPS data from METRO’s API, so it could tell users who stop off for coffee to pay their bill quickly because the next train is arriving in a few minutes.

3rd: Revolutionary Trashcans, a mobile app that connects to a wireless scale underneath your trashcan and tells you how much food you’re throwing away. The hardware was developed last semester by one of the teams in my entrepreneurship class and now, with the mobile app in place, they are ready to begin selling to school cafeterias nationwide!

It was an exhausting weekend and one that reminded me a lot of my collegiate experience. After all, Duncan Hall was where many of my late nights were spent back then! I was incredibly pleased with the results, though. Indeed many of the projects were quite practical, as we had hoped. Several groups are continuing to develop theirs with an eye toward commercialization, and Waste Management has already approached one of our winners about a partnership. Moreover, we’re pleased to have fostered so many connections over the weekend: 55 participants and 20+ volunteers, all motivated to build software for sustainability. The event is over, but the movement is just getting started!

Pictures from the event

If Climate Change Isn’t Happening, Why Is the Arctic Melting?

The following question was asked on LinkedIn:

“After Climate-Gate, skeptics say that man-made climate chaos and global warming are not happening yet the Arctic’s melting faster. What are your thoughts, observations and views?”

My response:

“I’m not a an expert in climate change, but I know many such experts. They are professors in environmental science, geology, hydrology, nanotechnology, and geophysics as well as researchers and other professionals in industry. I don’t blindly listen to academics, but these are smart, fair people whose opinions I have come to trust over the years. They have all agreed that climate change is happening and that man is causing it for years – since long before it was fashionable.

Our climate is incredibly complex, of course, and perhaps the vast supermajority of such scientists are wrong. At the end of they day, though, if there’s even a remote possibility that we are bringing about something as catastrophic as our own destruction, it makes sense to me to do everything within our power to oppose the trend.

This was a major reason that I devoted my entrepreneurial career to cleantech ventures. As a capitalist, I love how many “clean” technologies that help us address climate change simply make good business sense anyway – like energy efficiency, for example.”

I also provided a link to a series of articles on How To Talk To Climate Skeptics.

How Do Entrepreneurs Face Their Fears?

Someone asked the following question on LinkedIn:

“Everyone has a fear of something. Being an entrepreneur there are so many unknowns and big risks that have to be taken in order to grow. How have you been able to take the leap of faith?”

My response:

“Many of the answers so far are quite rational, but fear is an irrational, emotional phenomenon. The best work I’ve seen on dealing with fear is from Leadership Professor (and former hostage negotiator) George Kohlrieser.

His research shows that, as children, we learn to overcome our fears by relying on secure bases. For example, we can take risks while learning to walk because we know that Mom, a secure base, will be there to pick us up when we fall. This pattern sticks with us through adulthood.

Therefore one of the best ways to address your own fears is to identify and leverage your secure bases. They can be people who will still love you even if you fail, places that give you a sense of comfort and solidarity, physical objects, values you have, even pets. When you lean on your secure bases, taking the entrepreneurial plunge seems less risky – or at least the prospect of failure seems less dire.

It goes the other way as well. As you grow your business, it is important for you to lead as a secure base to your employees, giving them confidence to push the envelope and take [calculated] risks.”

I’ve been so impressed with George’s work that I’m taking his top-rated High Performance Leadership course, which is available for the first time in the US next year!

Morning Run in Houston

With the temperature down to 19° C (66° F) for the first time in several months, I took advantage and rose early for a morning jog along Buffalo Bayou in the heart of Houston. When I began, it was still dark and the crescent moon stood guard brilliantly in the cloudless sky. As I ran for an hour and a half, the sun rose and the stars faded, but the moon remained. Brilliant; my love affair with the moon continues. Poised above the downtown Houston skyline, it might not be quite as striking as I remember it over the mountainscapes in Switzerland, but still makes me smile.

  • There were a few takeaways from this morning’s run:
    Early exercise is a great way to start the day. Endorphins going, blood flowing, it really kicks the day off right.
  • Early exercise is a great way to prepare mentally for the day as well. By the end of my run I felt centered and [after a shower] ready to accomplish everything I had organized in my head during my 90 minutes of running meditation.
  • Houston’s bayous really are beautiful – lush green banks and smooth streams winding right through the center of our thriving metropolis. I live a short jog away from Buffalo Bayou and my office is right along it downtown; I didn’t realize how valuable that proximity would be when I moved in but now I’m extremely grateful for it!
  • There is a bond issue up for vote this November 6th to develop the parks along the bayous even further, tremendously enhancing and increasing Houston’s green space. I encourage everyone to learn more at Parks By You and to vote for it in November!

Sales Forecasting For a Mobile Startup

I recently answered a LinkedIn question about sales forecasting for a mobile startup.

The question:

“Mobile Start-ups are not as easy to forecast, at least in my opinion, as some other types of businesses. Obviously VCs and investors understand your projections are essentially fabricated and pure guesses, but how would you go about forecasting sales of a mobile application, especially given the environment of the app store hiding number of downloads for potential competitors?”

My response:

“Actually I’ll argue that mobile startups are much easier to forecast than most other types of businesses. When you start a business all you have are guesses/hypotheses about who your target market will be, what they want in a product, how you will reach them, how much they will pay for it, etc. In a mobile startup the barriers to test those hypotheses are much lower than in most other types of businesses. In a few months and for a few thousands-not-millions of dollars you can develop a minimum viable product, and begin experimenting with different techniques to drive conversions/sales. This type of validated sales forecasting is worth infinitely more than made-up numbers (wishes which will be thrown out by any investor anyway) and will put you in much stronger negotiating position if indeed you do seek investment.

If you are desperate for comparables, though, check out the Google Play Store, which does publish download numbers.”

What do you think, is this a useful answer or just lean startup soap boxing?

Entrepreneurship: Full-time or Part-time?

Someone asked the following question on LinkedIn: “Is it possible to successfully start-up a company while working on a full-time job?”

Here’s what I said – what do you think?

“Although we have this mythology built up about “all in” startups that raise venture capital and work 20+ hour days, most “successful” startups (that is, those which ultimately become large businesses) actually began as side projects while the founder(s) continued working on something less risky full-time. This allowed the founder(s) to develop the venture to the point of market validation, prototype milestone, or some other inflection point to reduce the risk (or perceived risk) of taking the entrepreneurial plunge.

Even so, I advise potential entrepreneurs to take the plunge immediately if they believe in the opportunity. By “burning the boats behind you,” you create a strong motivation (one that can’t be procrastinated around or delayed due to higher priorities) to advance the startup and, even if you fail spectacularly, it really isn’t hard to return to the safety net of a full-time job.”

Financing Your Big Idea

Someone asked a question on LinkedIn about the best way to finance a new venture. What do you think of my response?

“By far the best way to finance a new venture is by customers paying in advance for your products that may or may not truly exist yet. Each dollar you bring in with this customer-centric finance approach provides more than a dollar of value by also validating your market (In the raise-capital-then-build-product-then-sell-product model there is a much higher risk that you will build something that no one wants to buy.) and creating a group of reference customers to help you sell even more product once you are ready. Recent crowdfunding sites like kickstarter (which is essentially a pre-sales tool) provide this benefit if you are targeting many, smaller customers. If your product is more enterprise in nature, though, you will need to do the selling yourself.”

Recommended Entrepreneurship Books

I made the following entrepreneurship book recommendations on Quora, so thought I’d share them here as well:

I use the following two books as course texts in my entrepreneurship course:

Additionally, I recommend the following books for additional reading:

  • Blue Ocean Strategy – Creating new markets instead of scrounging for shares of existing ones
  • Crossing the Chasm – Old school, seminal marketing work on moving from early success to sustainable growth
  • Getting to Yes – The best book I’ve ever read on negotiating

Do you agree with my recommendations? Do you have any others to contribute?