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Darwin Lessons by Larry Fox

Darwin Lessons by Larry Fox. Attorney Larry Fox Shareholder at Avisen Legal, P.A. October 13, 2017. Story 1 Aspire Sports Beverage. Background on Aspire. “Healthier” alternative to Gatorade (NAD and FTC complaints regarding their claims Founded in 2012 by Edina Hockey Dads

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Darwin Lessons by Larry Fox

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  1. Darwin Lessons by Larry Fox Attorney Larry Fox Shareholder at Avisen Legal, P.A. October 13, 2017

  2. Story 1Aspire Sports Beverage

  3. Background on Aspire • “Healthier” alternative to Gatorade (NAD and FTC complaints regarding their claims • Founded in 2012 by Edina Hockey Dads • $10 million funding, including Ryan Suter • Product in Target Stores – deals with U of Wisconsin • Business shut down in 2017

  4. What happened? • Trademark Infringement Lawsuit brought by Aspire Drinks • Based on Chicago Aspire’s Prior Use of the Trademark • Prior Use • Earlier Filing Date

  5. How Could Have This Been Avoided? • Full US Trademark Search (including common law search $500)

  6. Story 2 DTI – Client at Intel Seamless Display Tiles Series A – Over $10 million

  7. What Happened? • One Strategic Investor, Spinout from Intel • Founder wanted to take a sabbatical • Team wanted to be distributed (did not want to be in one location • Investor refused to fund • Business Shut Down – Technology Licensed to Strategic Investor

  8. Story 3 First Mover Advantage • Speed is good • First to Market • Competitive Advantage – patents; high switching costs • Is it better to be an Early Mover or a Later Entrant?

  9. Question: What do all of the products have in common? • Intel Web Tablet • “The device, which was dubbed Intel Pad, or IPAD for short, could browse the Internet, play music and videos, and even act as a digital picture frame.” https://www.cnet.com/news/before-apples-ipad-there-was-the-intel-ipad-seriously/ • Companion Device • No apps – dedicated browser; view pictures and videos

  10. Intel Online Services “Intel provided Web hosting, called Intel Online Services, while Amazon was still a new company. The company first considered running data centers to house other companies' Web sites in 1996, but executives decided against it. Two years later, Renee James, then the chief technical aide to Chairman and CEO Andy Grove, looked at the concept again. Intel approved her plan in late 1998 and opened its first data center the following year.” https://www.cnet.com/news/more-than-a-chipmaker-intels-blown-opportunities/

  11. Vivonic Handheld Fitness Planner “Like a personal trainer in a box, the Vivonic Fitness Planner helps you keep track of your fitness goals, workouts, and eating habits. The system works by first the usage of Vivonic fitness software on your PC to assess your needs and goals through a series of in-depth questions. With information about your preferences, schedule, regular activities, current exercise regimen, and medical issues, You’ll be able to then decide your fitness goals and how long you need the plan to last. The Vivonic software then recommends a personalized workout with computer animations that will help you take into account unfamiliar exercises. Download your plan from your PC to the Vivonic Fitness Planner, and you are ready to go.” http://painfullycool.com/shop/electronics/vivonic-fitness-planner-mini-handheld/

  12. Answer: All businesses that were started and either shut down or sold when I worked at Intel.

  13. Why? • Misunderstanding Customers Tablet • Branded Device vs. Refence Design • Customers objected to Intel competing with them in the consumer electronic space • First Mover Disadvantage for Consumer and Industrial Goods • Harvard Business Review, October 2011, Boulding and Christen • Hard to Overcome High Startup Costs • Lack of Infrastructure • Lack of Market (IOS) built in 1998 shut down two years later

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