Tim Marman's Loosely Coupled

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• Facebook: Lawsuits, IPOs, and Acquisitions

  ConnectU is suing Facebook for, among other things, copyright infringement, breach of contract, theft of trade secret. (It should be noted that Facebook is counter-suing for business torts and unfair business practices). ConnectU (which started at Harvard Connection) alleges that Mark Zuckerberg was brought on as a member of the ConnectU development team, given access to the existing code base and business plans, and eventually "stole" them. For more details, read the full set of complaints and other filings . Rob is wondering why no one is covering this lawsuit ... it's certainly a big deal given the recent valuations and talk of an IPO. As Mike Arrington notes , "this isn’t a case of plaintiffs looking for a quick buck as billion dollar valuations are discussed" - this is actually a long-standing dispute that commenced long before we were saying "Facebook" and "billions" in the same sentence. Facebook recently acquired Parakey , a as-yet-launched... Posted Jul 24 2007, 07:19 AM by Tim with | with 1 comment(s) Filed under: Web 2.0, Business, Microsoft, Google, Startup, Venture Capital, Facebook

• What's the best state to incorporate in? (Hint: Delaware)

  AskTheVC recently addressed the question of what was the best state of incorporation . The short answer is one of 3 preferred states: "Delaware, whatever state the company is in and whatever state(s) the VCs are located in." Obviously, the last is hard to determine if you're going to incorporate before you close financing. California is notoriously employee-friendly so it should be avoided. Some of those laws may still apply if you are based in California, but if you are elsewhere you should definitely assume those burdens. New York is also undesirable. It's fairly balanced when it comes to dealing with owners vs. employees, but the one big red flag is Section 630 of the NYS BCL. This section states that the top 10 shareholders are liable for employee wages if the company goes out of business and employees aren't paid. This statute does not apply to foreign companies (i.e., those incorporated in other states) even if they're doing business in New York. Considering... Posted Jul 23 2007, 05:53 AM by Tim with | with 5 comment(s) Filed under: Web 2.0, Business, Law, Entrepreneurship, Startup, Venture Capital, NextNY

• There's no such thing as Web 2.0

  I've said before that I hate the term Web 2.0 but that it's more than a buzzword . Perhaps what I meant to say is what Marc Andreessen said: there's no such thing as Web 2.0 ( via Fred Wilson ) - thing being the key word there. The first Web 2.0 conference was held in the fall of 2004, and coincided with a large number of people in the tech industry (myself included) peeking our heads out from the fallout from the nuclear winter of 2001-2003 and realizing that the Web was not only not dead, it was thriving. From there, it was easy to conclude that "Web 2.0" was a thing , a noun, something to which you could refer to explain a new generation of Web services and Web companies. Many people have since pointed out that there is no clear definition of Web 2.0. Tim O'Reilly, whose organization created the conference (and the term), attempted to define Web 2.0 as follows: "Web 2.0 is the network as platform, spanning all connected devices; Web 2.0 applications are those that make the most of the... Posted Jun 11 2007, 03:09 PM by Tim with | with no comments Filed under: Technology, Software Development, Web 2.0, Innovation, Entrepreneurship, Startup, Venture Capital