Author: Chu

哈哈哈，开着flamenco跑步真是一件具有挑战性的事情。由于忍不住会跟着节奏不算加速减速，好辛苦。不过很爽的感觉，哈哈。

在西班牙的时候每周末隔壁的餐馆都有flamenco表演，一群人一起击掌，跳舞，真是充满了欢乐的气氛，呵呵。不知道为什么，西班牙条flamenco的女人似乎都比较胖，但是转圈完全不晕，真是厉害。

洗澡的时候流鼻血真是件雷人的事。

闭着眼睛洗头，抹得满头满脸都是泡沫，忽然间闻到一股血腥味，眯着眼睛看见镜子里一张脸上白色泡沫和红色血液混杂在脸上，抬头拍额头之类的应有反应貌似在这个情况下完全做不出来，哈哈，速度冲掉一切杂物，于是就看见了地上的红白混合液体。

昨天终于在ÖoB买了个指甲刀，搬出来自己住之后只在一次回去拿东西的时候剪了次指甲，都快成僵尸了，指甲刀也不知道去哪儿买，哈哈昨天碰运气去ÖoB居然还真找到了，主要再不剪实在不像话了，哈哈。

sole proprietorship, named sole trader in UK, is a business structure where the owner is fully liable for all the assets and debits of the business. In a sole proprietorship, all you really need to do is begin working. You don’t need to file any particular paperwork, just the usual licenses and permits that any other business needs to file. You are the chief cook and bottle washer and the sole responsibility for the success or failure of the business is in your hands. However, you are also personally responsible for paying business debts and income taxes. It can be a dangerous proposition, because if your business loses a lawsuit, doesn’t pay for goods or services or incurs other unpaid debt, you can lose your personal savings and possessions, including your house.

 

A C-Corporation, also known as a regular corporation, on the other hand is a business structure that is legally independent from its owners. There is no personal tax liability for its owners and it has a board of directors and shareholders. It is somewhat more complicated to set up than other business structures because it is established with your state’s authorities and must follow all the laws for corporations in that state.

There are many tax advantages to forming a C-Corp, including the fact that all income is taxed at the corporate rate before it is distributed to shareholders and owners. Your C-Corp is eligible for many tax deductions, including salaries, rents, repairs and maintenance, profit sharing and benefits plans.

 

A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested. However, depending on the partnership structure and the jurisdiction in which it operates, owners of a partnership may be exposed to greater personal liability than they would as shareholders of a corporation.

Limited liability is a concept whereby a person’s financial liability is limited to a fixed sum, most commonly the value of a person’s investment in a company or partnership with limited liability. A shareholder in a limited company is not personally liable for any of the debts of the company, other than for the value of his investment in that company.

 

 

1 Crash cymbal | 2 Floor tom | 3 Toms

4 Bass drum | 5 Snare drum | 6 Hi-hat

大雪下了好几天了，可是温度又不够低，下了化，化了下，倒是很喜欢这纯白的世界，遮掉了一切的丑陋，虽然雪化了之后终究还是要露出真面目。

穿着高帮goretex在路上走路的时候冒出来一个词：雪龙号破冰船。貌似是当年中国最早的到极地考察的破冰船之类的。然后在一次考试中我不小心少写了个冰字，结果是雪龙号破船被大家笑了好长一阵子，哈。

窗外的雪是斜着飘的，煞是凶猛.spotify播放的是stairway to heaven，很喜欢前面那一段的低吟式的淡淡叙述，整首歌非常有层次。庾澄庆有次在康熙唱过这首歌，别的没记住，就记得那句“剩下的歌词我不记得～～”。我是唱不了副歌那一段，唱半首嗓子就废了，但是很喜欢前面主歌的部分。干净的旋律和电琴的配合，如果用尼龙弦伴奏不知道会是什么效果。

昨天第一次从家走到市图, 发现其实只要15分钟就足够了，还锻炼身体，真不错，哈。在路上戴着眼镜儿，忽然发现了很多之前没见过的东西，呵呵。在近视以后，都习惯除了上课之外不戴眼镜儿。生活中看到的东西好像也就一直都很模糊，呵呵。昨天第一次在路上看得那么清晰忽然觉得很奇怪的感觉。

下礼拜的execution的考试混个过就完了，书都还没，实在太贵了，Michael同学看过去挺通情达理的，随便写写应该不会太过分吧，嘻嘻。很有可能是人生最后一个考试了，唔。

刚刚想起来明天就3月了，二月只有短短的28天，上礼拜execution的课有个作业是time journal，做了自己一个礼拜的记录之后统计how much time you devote to the goals. 发现我一个礼拜花在thesis上的时间只有25-30小时，按照800-1000小时的要求我这需要25周才能搞定，进度明显不够快，吓了自己一跳，等第一P这几门课结束了，要集中突击一下了。

痛苦无比的IDS报告终于完成了。越写越有感觉，哈哈。

从文章的reference就能看出我这篇文章写得有多么难，抽象至极。以下是reference的名单：

[1] Kline & Rosenberg (1986): “An Overview of Innovation” page 275 – 305, Natinbal Academy Press, Washington DC.

[2] Schumpeter, Joseph (1911, 1968): “The fundamental phenomenon of economic development”, The Theory of Economic Development, Cambridge, Mass.

[3] Rosenberg (1994): “Exploring the Black Box Technology，Economics and History”, Cambridge University Press, Cambridge.

[4] Rogers, Everett (1995): “Diffusion of Innovations”, The Free Press, New York.

[5] Utterback, James (1996): “Innovation and Industrial Evolution”, Mastering the Dynamics of Innovation, page 79-102.

[6] Aberdeen Group (2008): "A Comparison of Suppler Enablement around the Word", http://www.aberdeen.com/c/report/sector_insights/5097-SI-supplier-enablement-enterprise.pdf

[7] Wal-Mart Stores Inc (2009): “Requirements of becoming a supplier”,

http://walmartstores.com/Suppliers/248.aspx

[8] Thomas, Hughes (1992): “The Dynamics of Technological Change: Salients, Critical Problems and Industrial Revolutions”, Technology and Enterprise in a Historical Perspective, Clarendon Press, Oxford.

[9] Drucker, Peter (1985): “Innovation and Entrepreneurship”, Heinemann, London.

[10] "Stockholmsförsöket" (2006) http://www.stockholmsforsoket.se/

[11] Metro Group Future Store Initiative, http://www.future-store.org/fsi-internet/html/de/375/index.html

[12] P2P encryption standard using nowadays.

[13] Public Key Infrastructure. In cryptography, it is an arrangement that binds public keys with respective user identities by means of certificate authority (CA).

[14] Rathenau Institute, Netherlands, RFID and Identity Management in Everyday Life, July, 2007.

 

这门课虽然很务虚，还是学到了一些宏观理论的，呵呵。宏观理论不仅能帮忙解释或者预测一些技术发展，而且还有很好的唬人效果。昨天耐克的电话面试我就大谈Michael Porter，哈。

明天八点seminar，睡觉睡觉！

 

今天工作了N个小时，刚刚回到家，哈哈哈，自己都觉得很很猛！昨晚也不知道点睡的，大概也得3点了。早上9点一个电话直接叫醒了。一看号码010的，心想貌似北京没什么人会用座机给我打电话，莫非又是什么公司的，信号怒差，听了N次听出来是耐克。N久以前貌似投了个耐克的trainee，姐姐用怒甜无比的声音问我什么时候方便可以安排一次电话面试，约了下礼拜一早上9点，北京时间16点。我记得耐克招聘的网站是一个叫的卢的网站，界面写得很差，load一次等半天，好像材料都没填齐。

前天买了一大包腰果，把饼干盒都装满了，哈哈哈。腰果叫cashew，这个词原来不是很认识，还是在西班牙的餐馆被人教会的。有人要点fried chicken with cashew，菜单上没有，英国人另要的。解释成a special nut looks like kidney, 哈哈哈。才领悟了腰果的腰原来是腰子的腰，雷，哈哈。

Finance for startup 这门课真是越上越有滋味，主要授课老师南方的花本身水平就很好，guest的水平也都非常不错。今天又来了俩VC，一个是government的，主搞生命科学，另一个是私人VC，总金额1.5billion，spotify的主要VC之一。收获良多！

问了几个问题，两个牛人对我印象都还行，嘻嘻。可惜忙着搞论文，business idea只能放一放了，不然就上去找他要个名片哪天要钱去，哈。不过要是哪天真用得到，应该还是能找到。

论文题目改改停停，昨天晚上又读了3篇巨作之后，现在算是找到一个比较确定的方向。IS与SCM，做一个全供应链的模型，结合DW，IS，重点谈谈RFID的作用，用REA分析供应链的各个成分，最后porter的strategy上，找出SCM和IS及RFID的alignment。perfect！！！

Scania有个SOA的论文，貌似还行，但是我好像很喜欢现在这个题目，舍不得放，TAT。在INDEK这边，SCM这个题目貌似也能用，分出一部分来扩展一下应该行。加油加油！！

这两天在练planche, 练得浑身肌肉酸痛，发现原来很多练不到的肌肉planche都可以帮到，第一个阶段还基本没过关，哈哈。David同学已经可以第二阶段10几下了。youtube上的那个大哥的训练视频，实在是太牛了http://www.youtube.com/watch?v=YvbLSgWMJec

I’ve found that even sophisticated entrepreneurs didn’t necessary grasp how valuation math (or “deal algebra”) worked. VCs talk about pre-money, post-money, and share price as though these were universally defined terms that the average American voter would understand. To insure everyone is talking about the same thing, I started passing out this document. Recognize that this is about the math behind the calculations, not the philosophy of valuation (which Fred’s blog addresses).

In a venture capital investment, the terminology and mathematics can seem confusing at first, particularly given that the investors are able to calculate the relevant numbers in their heads. The concepts are actually not complicated, and with a few simple algebraic tips you will be able to do the math in your head as well, leading to more effective negotiation.

The essence of a venture capital transaction is that the investor puts cash in the company in return for newly-issued shares in the company. The state of affairs immediately prior to the transaction is referred to as “pre-money,” and immediately after the transaction “post-money.”

The value of the whole company before the transaction, called the “pre-money valuation” (and similar to a market capitalization) is just the share price times the number of shares outstanding before the transaction:

   Pre-money Valuation = Share Price * Pre-money Shares

The total amount invested is just the share price times the number of shares purchased:

   Investment = Share Price * Shares Issued

Unlike when you buy publicly traded shares, however, the shares purchased in a venture capital investment are new shares, leading to a change in the number of shares outstanding:

   Post-money Shares = Pre-money Shares + Shares Issued

And because the only immediate effect of the transaction on the value of the company is to increase the amount of cash it has, the valuation after the transaction is just increased by the amount of that cash:

   Post-money Valuation = Pre-money Valuation + Investment

The portion of the company owned by the investors after the deal will just be the number of shares they purchased divided by the total shares outstanding:

   Fraction Owned = Shares Issued /Post-money Shares

Using some simple algebra (substitute from the earlier equations), we find out that there is another way to view this:

   Fraction Owned = Investment / Post-money Valuation = Investment / (Pre-money Valuation + Investment)

So when an investor proposes an investment of $2 million at $3 million “pre” (short for premoney valuation), this means that the investors will own 40% of the company after the transaction:

   $2m / ($3m + $2m) = 2/5 = 40%

And if you have 1.5 million shares outstanding prior to the investment, you can calculate the price per share:

   Share Price = Pre-money Valuation / Pre-money Shares = $3m / 1.5m = $2.00

As well as the number of shares issued:

   Shares Issued = Investment /Share Price = $2m / $2.00 = 1m

The key trick to remember is that share price is easier to calculate with pre-money numbers, and fraction of ownership is easier to calculate with post-money numbers; you switch back and forth by adding or subtracting the amount of the investment. It is also important to note that the share price is the same before and after the deal, which can also be shown with some simple algebraic manipulations.

 

http://www.markpeterdavis.com/getventure/2008/06/venture-valuati.html

http://www.feld.com/wp/archives/2004/07/venture-capital-deal-algebra.html