U.S. banks to make $38 billion from overdraft fees: This is straight from Reuters. News is that banks are poised to make a whopping 38 billion dollars in these fees.
Sad thing is that this money of overdraft is made or lynched from financially stretched customers. These customers are already on the financial breakdown path and topping this comes the overdraft fees.
As I had mentioned earlier, if you have not looked into your bank statements or accounts recently, please do, or else it will be a feel bad situation.
Here us the link to the story
VCs are aggresively pushing company values down in the second quarter of this year. This was true almost 45% of he time investments were made compared to values of the company’s previous road.
That valuation is used to determine how many shares VCs get from the company in return for their money. The lower the value, the more ownership VCs get, and the less is left for entrepreneurs. This value is negotiated between the VCs and entrepreneurs at the time of the deal.
It is the blood sport that makes up Silicon Valley.
This is such a tricky situation, the desperate entreprenuer in a situation where he requires the cash to go, agrees to whatever the VCs have to say. This is the same in all fields in times of recession. Advantage the money man.
This is an interesting piece I came across on the web. Kinda shows you the same tactics people play in all walks of life. Analyze and plot your next move.
—-Have you ever noticed that there are often times pennies on the parking lot of a dealership? If you want to be left alone…pick them up. (They look at you as if you are not able to afford a car, so they don’t waste their time.) This practice is called “Seeding the lot”.—–
Sick though, when you think about it.
Have you ever wondered why your bank will never call you or even let you set alerts for overdrafts on your account. Well if your account gets over the limit, your checking account, and this is one of the accounts you do not use regularly, do not be surprised to see your account balance in the negative.
It is so true, in this day and age of Twitter and facebook status updates, you do not get alerted by your bank on this issue, because this is one of the black/gray areas where banks rob you in broad daylight. I am talking of the biggest bank here now. Someone has to figure this one out soon.
I am typing this as I and a friend are waiting for our Thai takeout, and he mentions about this experience of his being 900 in the negative.
That’s it for technology status updates.
Check your banks policies now, so you don’t get burnt later.
Tags: bank overdraft
I was reading a magazine and these words really stood out.
The equation is simple: amount of cash divided by cash burned per month. The leading cause of startup failure is death, and death happens when you run out of money. Does it sound right? If not keep doing what you are doing.
Tags: rabbit deep
This has been some crazy time. The economy shows no signs of love, the stimulus money seems to be stuck in red tape (there is money allocated but nobody is seeing it). During this punch what do you do? Well me for one thing, hang on tight. Today we see the market tumbling, with world leaders pitching that the recession is not yet over.
In this economy, the advantages are abundant. Take a look at these, you got talent everywhere ready and hungry for work and cheap too. You got real estate literally giving space for no money. You got cheap stuff all around Computers, furniture (you can do without it for some time). You got you big fish competitors cutting corners everywhere, thus gives you immense power to go one up against them.
Now the one thing you ain’t got is the Startup.
Now is the time.
Take the leap. Not tomorrow. But Nowz the time.
The most difficult step of all. ……..the leap, it’s a bungee jump.
Tags: downturn
snow lights. Testing the 2twitter api from flickr http://flic.kr/p/5Ld3ai
There are some old sayings
“It doesn’t matter if you fall, it’s whether you get back up”, another one
“The greatest glory never comes from falling, but from rising each time you fall”….
To be honest, in the run to be the first to get money out of investors, there is no chance to fall. If you fall you lose, you have to be very careful. This is competition and in an economy like this you cannot be left behind just because you fell down and you need time to recoup to start again. These words look great in real life, but in a startup life, these are just words, replace them with these words “You do not have the time to fall”.
I always wonder what to do with facebook and twitter. Not that I dont use them, I know what I use twitter for, but for some insane reason, lately facebook is becoming more like twitter. You can post updates, move with time and life. I need to draw a line between both of them on what to use what for.
Still working on this, will come up with a solution and work on it.
