Silicon Valley

Showing posts with label Silicon Valley. Show all posts
Showing posts with label Silicon Valley. Show all posts

Wednesday 28 May 2014

Smart People Sabotage Their Success with this Stupid Ways


Sometimes the smartest people do things that seem to make no sense at all.

A group of Quora users drew from their experiences to address the question, "What are some stupid things that smart people do?" The answers provide ways to overcome some of the common ways intelligent people unknowingly undermine themselves.

We've highlighted a few below.
They spend too much time thinking and not enough time doing.

"Because thinking comes so easily to smart people, doing becomes relatively harder. Research and planning are great in moderation, but can offer the dangerous illusion of progress," says Silicon Valley entrepreneur Chris Yeh. Smart people who are perfectionists can get caught up in this kind of seemingly productive procrastination and often nitpick over minute details rather than finishing projects.

They follow the pack.

Venture for America's Andrew Yang has written extensively about the trend of top college graduates going into the same few industries equated with "making it," like finance and consulting, rather than following their passions. New York entrepreneur Lee Semel agrees: "Many smart people often seem to be followers, probably because they grow up spending so much time pleasing others via academic and extracurricular achievement that they never figure out what they really like to work on or try anything unique."

They stop trying.

People whose intelligence has helped them achieve a level of success can often get lazy. "These smart people fail to further develop their natural talents and eventually fall behind others who, while less initially talented, weren't as invested in being smart and instead spent more time practicing," Semel says.

They undervalue social skills.

Some intelligent people don't realize that intellect is only one element of achieving success and that personal connections are everything in the professional world. "They never try to improve their social skills, learn to network, or self promote, and often denigrate people who excel in these areas," Semel says.

They place being right above all else.

Many smart people indulge a dangerous combination of ego and logic and behave as though being right all the time is somehow endearing (it's the opposite), Semel says. It's bad when they argue a point they're misinformed about, but it can be even more embarrassing for them when they insist on arguing facts against someone's long-held beliefs.

They equate education with intelligence.

A high academic pedigree can make some people think that where someone got their college degree reflects how smart they are, says Liz Pullen, a sociologist. In many cases, a degree from an elite university represents a great achievement, but there are countless instances where those who didn't graduate college are more qualified for a job because of their real-world experience.

They are too independent.

Smart people can fail to develop healthy support systems that everyone needs to succeed . 
" Without a good support system, anyone can begin to slide down a slippery slope when they encounter hardship, miscalculate something major, or fall victim to the misdeeds of others,"  says Quora user  Andrea Martin .

How do you develop a good support system? "Methodically place yourself in the company of the most mature, benevolent, competent people you can identify. 

Tuesday 6 May 2014

WalmartLabs Buys Adtech Startup Adchemy


WalmartLabs Buys Adtech Startup Adchemy, Its Biggest Talent Deal Yet

the retailer’s Silicon Valley-based innovation lab and R&D center, has now made its twelfth acquisition with the purchase of e-commerce technology company Adchemy, its biggest deal yet in terms of people. Founded in 2004, and backed by nearly $120 million in outside funding, Adchemy had experimented with a number of business models over the years. And though it had been making steady progress, CEO Murthy Nukala admitted as recently as last November, that it was not yet profitable.

Adchemy founder and CEO Nukala is not joining as a part of the deal, we’re told.

While deal terms are not being disclosed, we’re also hearing that Adchemy was mainly a talent acquisition for the retailer.

The team of 60 who are joining @WalmartLabs include a number of skilled engineers, including Rohit Deep, previously the Chief Architect and Engineering Lead at WebEx; Ethan Batraski, formerly the head of search innovation at Yahoo; and data scientist Esteban Arcaute, a Stanford Ph.D., also previously at Yahoo.

“They built an incredibly strong team of talented folks who understood product search, product relevance, SEO, SEM, and data scientists and Ph.D’s who could build this technology,” explains Jeremy King, who leads @WalmartLabs.

The Adchemy team’s combined skill sets overlap with many of the same things Walmart itself is working on today, including improvements to its product search engine and product classification systems, for example.

We also understand that Adchemy’s technology and IP is not going to replace Walmart’s existing infrastructure, but instead it will be about enhancing the talent pool in three specific teams working at @WalmartLabs today.

For starters, Walmart has been working on improvements to its sites’ search engines (e.g., Walmart.com and SamsClub.com) over the years, having acquired semantic search company Kosmix back in 2011 for $300 million to help it build up its team.

Though Kosmix’s founders later left the company, the engineers remained. Together, they built on top of Kosmix’s “social genome” technology to launch a new version of Walmart.com search, dubbed “Polaris” in 2012. Those changes immediately improved conversions on Walmart.com by 20%, the company now tells us. With the Adchemy buy, a number of that company’s engineers will now be tasked with continuing the efforts started by that team.

Another area where Adchemy’s engineering talent will help in product classification. Walmart added 6 million products to its site over the last year, and plans to add millions more in the months ahead, we’re told. Walmart, like other online retailers, has to classify items using the data provided by the manufacturer, reseller, or marketplace provider, to determine what the item is, how it should be categorized within Walmart’s own product database, how it should be tagged, and more.

Adchemy’s engine was a bit different from Walmart’s in this case, however, as it was focused more on ad targeting. That is, it would determine if a page was about shoes or electronics, for instance, while Walmart’s tech goes deeper, trying to determine things like “which shoe,” or “which gadget.”

Finally, Adchemy’s in-house expertise in SEO and SEM who will also be joining the @WalmartLabs’ team.

Adchemy had a complicated history, detailed here on Business Insider last winter. The company began with six products but killed off five of them over the years, including its lead gen business, sold to XL Marketing in November 2013. Its most recent efforts had focused on semantic search technology, which why it ended up with the high-caliber talent that attracted Walmart’s interest. The idea was to extract the “meaning” from a retailer’s catalog, so it could respond with better product listing ads in Google based on that deeper understanding, rather than just keyword matching.

It customers included Macy’s, ModCloth, Overstock.com, American Eagle Outifitters, Finish Line, Resolution, and a couple dozen others. Those customers were alerted about this deal, and will have their contracts terminated when it closes. - by Sarah Perez