The NextNY crew got together to give a bon voyage to Charlie O’Donnell who is heading out on a cross country adventure while he reflects on where his life will take him next.
With the Empire State building looking down upon us we talked tech, NYC & of course, tomorrow’s release of the iPhone.
It was a hot night, but fairly pleasant up on the roof of the Koreatown La Quinta- up until the skies opened.
A good time though- with a lot of new peeps working on some really interesting stuff. A few more pics are here..
I watched the Barry Diller interview on 20/20 last night. I often get a kick out of the mainstream press covering the latest fad of tech- but this was a good interview, and I actually enjoyed all of the backstory about Barry’s lifelong romance with Diane Von Furstenberg. Barry talked a fair amount about building an online business around the old-business concept of brands. He’s done quite well at it- and IAC’s stock price is almost back where it was in ’03.
Barry wasn’t shy at all talking about executive pay and his seemingly outlandish compensation last year. In fact he even went on to admit that absolutely, he is the one that decides everything, and that shareholders have less say in the company then they do in others.
Listening to the last IAC investor conference call Barry was much less candid and upbeat. In particular the big tightening of mortgages has hit Lendingtree hard. Servicemagic is still going gangbusters though, no sign yet of the housing slowdown hitting there, good news for my venture- 30elm.
This is a great NYC quote from the excellent NYMag Profit Calculator Article..
“Like all older, colder cities, New York City suffered greatly in the seventies when declining transport costs made it possible for manufacturing to relocate to cheaper places. New York’s resurgence since then has been based on innovations in financial service…The flow of innovations was the result of a remarkable concentration of smart people in New York, each learning from the other how to get rich. Goldman Sachs is the ultimate example.”