Here is a link to the Facebook IPO filing:

http://www.sec.gov/Archives/edgar/data/1326801/000119312512034517/d287954ds1.htm

It makes for compelling, if long!, reading.

As someone starting out on the journey, like I am, then what amazes me is how much of the business still remains in the hands of Mark. Its around 60%, even given all of the funding rounds (5) the business has been through.

As a nice story, its good to see his Dad, the original backer, getting recognised in the share allocation – even though he messed up on activating his share options within the original 12 month window.

I guess when you have something that good you dictate the terms.

Although all the business advice says don’t do it, I like the way engineers just go ahead and develop new technology without knowing the market potential in advance.

In that vein, I like what Google are developing in these rumoured augmented reality googles, which are discussed here:

http://techcrunch.com/2012/02/06/real-augmented-reality-google-goggles-in-prototype-stage/?grcc=33333Z98

I even have a few pressing applications for it, right now – if only Google would get in touch …

http://www.inc.com/don-rainey/three-numbers-all-entrepreneurs-should-know.html

I like the simplicity of this and the fact its focuses the mind on tangible yet meaningful metrics. Saying that I have never been a fan of the % allocation to the sales pipeline figures but maybe that is because I have been mainly involved in consultative style business to business sales which have a slower frequency rate to more high volume consumer product sales.

The concept of pricing how many customers you can afford to go after at any one time is really quite powerful.

Let me know your thoughts too.

Caterham (nee Team Lotus) – are all the cars going to look this ugly at the front??

So coding is the new value add skill. There remains a question in my mind however about what to apply these skills towards. That combination of coding skills and real need is, I feel, important – one goes hand-in-hand with the other. It is therefore important to remember this and also that there is a real world out there too.

Inspiring stuff.

Perhaps it is be because many see the role of a design engineer to optimise a design themselves.

Optimisation software may also have been possibly oversold – by this I mean sales staff with strict targets have been forced to bend the truth a little to win sales, leading to skepticism of the true benefits of design optimisation software by both design engineers and their managers.

I feel that this is quite a shame.

As with any software, for design optimisation or whatever, it is only ever going to give you an approximation. This doesn’t mean it is therefore useless. The design engineer who takes a pragmatic view to using their design optimisation software will really see the benefits – and fast. It requires a change in how a design engineer maybe used to working but once one sees the benefits, it is a software tool no-one in their right mind would want to give up.

There are a few different software products on the market.

One that is well received is called modeFrontier and has applications both in design optimisation but also in process optimisation.

I’d recommend taking some time to learn more about the field of optimisation and see how this kind of software could benefit your organisation.

If I were to write about the hardest thing I am finding about building a software start-up, it would say what this article is saying, almost verbetum.

What I would add, is that not only are the talented people required tucked up in safe corporate jobs or already branched out running their own software consultancy’s, for them to be really useful, they need to “get” what you’re doing and believe it will be successful when, in fairness to them, there are very few pointers to say it will.

For a curious but cautious bunch, this is a problem. Therefore acquiring or hiring the people you need is easier said than done – probably no doubt because these guys have been there, done it, and seen the issues, either personally or through good friends.

It is a tough one and an issue with no ready solution as far as I can see. That in itself is the foundation for a business perhaps …

Frustrated.

A fitting post is here for those interested to know more about his life.

Indy canceled the race and conduced this 5 lap salute to their former champion.