Current Thoughts and Investment Focus

Without planning it, I have been very busy in my angel investing activities, as a number of highly innovative companies have been brought to me. I am currently focused on the “app universe”. I believe the combination of apps on iPhone and Android, and the enormous success of iPad as a device, fundamentally will change the existing platforms. It is more than just the currently hip ‘local/social/mobile’ phenomenon – this is going to be the new way that most transactions will be done and most content will be consumed. The reason for this switch from desktop web to touch-based app environment is very simple: the apps are just much more easier to use and more efficient on these new devices, because the platform forces them to be so. Mobility and local info are simply the added benefits, the icing on the cake, not the core drivers. To me, this is the ultimate culmination of the consumer-driven model that I predicted in our report, the User Revolution, the last piece that I put out with my team, before leaving Wall Street. Ever since, I have been focused on companies that appreciate this fundamental transformation and are working to benefit from it. My recent investments in Qwiki and Cleversense are clear examples of this strategy.

On the public side, I am bullish on Netflix, Amazon, Baidu, and Ctirp, Reach Local, and, among others. Google presents a very attractive opportunity and to me it has been one of the most agile in adapting to new markets and environments. However, it may be a while before it can be a good stock, given the current investor sentiment and their recent actions. As with many investors, I also remain bullish on Apple and bearish on RIMM.

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