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Presentation given at the Silicon Valley Code Camp on October 9th, 2011

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Will Work For Equity - the World of Startups

Will Work For Equity - the World of Startups

Carl LudewigLudewig Multimedia, Inc.

10/9/11

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Thanks to Sean and SK Murphy

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Addicted to Startups

Carl LudewigSoftware engineer and entrepreneurUC Berkeley Computer Science gradCo-founded Ad Infuse in 2005, sold to Velti in 2009Early involvement in startups since 19984 patents issued related to software and mediaLove solving tough problems and building teamsEnjoy fast pace and short time to marketCurrently bootstrapping new venture

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Ad Infuse was a great experience. I learned a lot.

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Once More Unto the Breach

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MissionMake application development easierEmpower designers and business users

AttitudeBootstrap it!Talent mattersKeep moving forward

ProductGUI-driven app creation for non-programmersSoftware consulting and hosting (pay the bills)

CompanyLudewig Multimedia, Inc.Going since Feb 20102 employees, 1 contractor50% revenue growth YoY

Im in this for the long haul. I have no exit strategy.

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Cant Sit Still

Start a company if you have:Vision: a desire to create something newRisk tolerance: anything can happenDrive: must be self-disciplined

Dont do it for the wrong reasons:Hate the day job$$$ (yeah, its a goal, but cant be sole motivator)Want more free time (nope, youll have less!)

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Im tired of implementing others bad decisions. I want to make my own bad decisions.

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Money, Its a Gas

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GREATIDEA!

Theres a shortage of capital!

Theres a shortage of good ideas!

The Founder

The Investor

How you perceive the market depends on where you standMoney does not necessarily solve your problemsEquity has valueKnow what your goals are and what youre willing to give away

Equity is not free. Its the most valuable asset your company has.

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Cloud computing makes capital much less important for software companiesOpen source is a giftLean startups are the normCustomer developmentAgile methodologiesRelease early and oftenAs execution becomes easier, the winners will be determined by good design and ease of use

Living in the Cloud

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Datacenters and hardware purchases are a thing of the past.

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Technology Doesnt Matter*

A hard lesson for a techieYour success will be determined by the number of customers you serve, not the beauty of your architectureQ. Whats the best tech stack?A. The customer doesnt care.Perception is reality in all phases: recruiting, raising capital, getting customersInvest in design

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* But I care about it anyway

If I had it to do over, I would have spent more on design and the customer experience.

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Thank You

"People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas.- Steve Jobs

P.S. Were hiring: [email protected]

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