Legislation and regulators are increasingly catching up to the evolution of Web-based business practices and businesses involved in financial services connected with the Web. This article briefly overviews the legal context (under financial services law in Australia) for financial services involving non-cash payments.
Consumers and businesses are increasing their use of the Web for financial transactions. Banks and other financial institutions are introducing innovative payment mechanisms. So it is no surprise that more and more businesses seek to act as Web-based payment facilitators.
Last week Google launched Google Maps Australia. This puts the Yellow Pages asset and the revenue stream of Telstra's Sensis right into Google's firing line. This is especially so because with Google Maps you can not only locate product and service retailers and their contact details, but also get driving directions to them and mobile access to that data.
For now Yelllow Pages has a greater depth of data. Business data for Google Maps is supplied by News Ltd’s truelocal.com.au. What's going on?
We all value trust. It makes us buy from the corner store and buy online.
You know when trust is lost. Think of Howard Beale played by Peter Finch in the 1976 film Network. His famous line was to ask people to turn TV off, saying "I'm as mad as Hell, and I'm not going to take this anymore! " [click to watch it on YouTube].
For many businesses it's time for a change to benefit from growing confidence in the online world. Does your business have to do better online? Does your website need a makeover? Begin by asking - how do you win trust from your people, your customers and your suppliers.
Here's my working definition of a "venture capital fund", drawing on a McKaskill book and other sources.
A venture capital fund is a pool of investment money from institutional investors (such as superannuation or pension funds), companies, banks, governments or high net worth individuals (each known as a limited partner).
The fund is placed under the management of a venture capital fund manager (known as a general partner). Funds are generally limited to a 10-year life, so funds need to be returned to the investors before the end of that period. Venture capital funds typically look for a 20%+ cumulative return on funds over the risk free rate. They require a liquidity event (eg trade sale or IPO) within three to five years.
Tub happy (Footnote 1). That's how I'm feeling. It's Friday afternoon, my niece is getting married tonight, and on the weekend I have to make no more work choices (Footnote 2).
It's been a difficult week pondering the registrability of several trade marks for new ventures. Now the week's almost over I'm reflecting.
This title sounded friendlier than "Keywords and metadata" and catchier than "Typology gets me excited", but they too are tags relevant to this post. We're talking here about tagging Website content, IP notices, and other legal notices.
More audio from this event:
For its Person of the Year Time magazine has selected you. It has done so in recognition of the phenomena that is Web 2.0 and in particular your "user-generated" content that populates Web 2.0 sites. That content is on auction sites (eg eBay), photo and video sharing sites (eg Flickr and YouTube), blogs (with comments), wikis (led by Wikipedia), contemporary directories, message boards or shareware (eg Technorati, Digg and Del.icio.us) and shopping sites that permit user-ratings (eg Amazon).
Those sites and other popular Websites make hay today from your content. User-contributed content dominates YouTube as well as eBay and MySpace (both of which reconfigure displayed data to localise based on your IP address). Yet, admit it, your uploaded photos, music or videos are not your own creations and hence in the full sense "user-generated". Rather, you often copy them. Nothing wrong with that if there is an applicable copyright licence, permission or statutory exception in place. User-uploaded yes, user-generated... only sometimes. So I'm thinking of taking YOUR Time title away!
Global Trends in Venture Capital 2006 Survey by Deloittle & Touche USA LLP makes interesting reading, especially the observed "fledgling" trend for US venture capital enterprises to look abroad, ie invest in non-US ventures.
That July 2006 report was sponsored by the US National Venture Capital Association (NVCA) and other venture capital associations world-wide. There were 505 responses to the survey, with 45% of those from the US. The assets under management of the respondents ranged from less than US$100 million to greater than US$1 billion. Of the 505 responses 55% were based in the Americas, 24% in Europe, 17% in Asia Pacific and 4% in the Middle East.