Thursday, September 10, 2009
I had to share this. Here's an example of a company that is probably resting on its laurels. From Business Day (here):
"Homing pigeon Winston has made history by beating a Telkom ADSL line in delivering 4GB of data from Howick to Hillcrest, outside Durban in far less time than it takes to download the data using the state-run Telkom’s data network.
It took Winston 2 hours 6 minutes and 57 seconds, whereas the ADSL download was still under 5 % downloaded by the time the bird landed.
Winston took off from Howick after 10:00 this morning and travelled 80 kilometers, or 70 as the bird flies, to ensure the data arrived at it’s destination quickly.
Financial services company The Unlimited decided to test Telkom’s ADSL speed against World War I technology - the ancient technology won.
While the ADSL line was actually given a head start of almost half an hour, Winston still beat the service by 95%.
There has been no comment by Telkom."
Two years ago I met with WSGR to discuss legal representation for our startup. I met with one of their parnters, Mark Rienstra, who I got along with really well. After much deliberation, we decided that their deferred payment terms were too high. So we went with Fenwick & West at the time. Unfortunately our partner at Fenwick left for Reed Smith and we got lost in the shuffle. As we approach funding now - I want all of our ducks in a row - and they're not quite there yet. We determined we needed more support and therefore re-engaged several law firms to discuss working together. I reconnected with Mark and sat down for a meeting.
Their terms for the deal were more fair this time around and since we had a relationship already, it made working together much easier. So a few weeks ago, we signed a deal.