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Chicago-based Fund, Lightbank, to Invest Up To $100 Million in Technology Start-Ups

CHICAGO--(BUSINESS WIRE)--Eric Lefkofsky and Brad Keywell, two of Chicago's leading technology entrepreneurs, plan to invest as much as $10 million annually in early-stage technology companies through a new fund called Lightbank (www.lightbank.com). The entrepreneurs behind Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO) have already raised over $150 million and generated more than $1.5 billion in investor returns through their existing ventures.

“So far we've only scratched the surface of industries that follow antiquated business processes, where technology can be leveraged to realize cost-savings and create value” With the launch of Lightbank, Lefkofsky and Keywell will contribute their resources and expertise to foster a vibrant, active community of Midwest technology entrepreneurs who are short on capital, but flush with innovative ideas.

“Chicago is full of untapped entrepreneurial talent that just needs a little support,” said Lefkofsky. “Lightbank will be a driving force behind break-through ideas and help establish this city as a technology hub.”

In addition to investing capital, Lightbank will take an active role in guiding and nurturing companies through all stages of growth, from effectively scaling technology and finding the optimal business model to securing further growth investment and ultimately exiting the business.

Lefkofsky and Keywell, who met at the University of Michigan, have a history of starting new ventures that have shaken up industries with long-standing business models.

Read the full press release

LTE vs. WiMAX

So, without deviating from the discussion at hand, I felt it an important need to explain what this is all about.  Well, if you can remember the adventures of HD vs. Blu-Ray, you know that the consumer is always late in the technology wars, usually being exposed to the fight once the real decision makers, i.e. the distributors and manufacturers, have already made their decisions about who they will support.  For example, Microsoft championed the campaign of HD to no avail against Sony and their Blu Avatar (pun intended. 

While many consumers believed that they were the decision maker in the turnout of that battle, let us review one fact.  The Microsoft X-Box outsold the Sony Playstation by embarrassing #s, yet HD did not catch on.  Why was that?  Well, quite simply it was because the Blu-Ray had a stronger vested interest and commitment from manufacturers and distributors, especially in Hollywood. 

It’s like politics.  You vote for a certain candidate, but that candidate really got into office based on dollars invested in his campaign that led to his exposure to enough voters that he won.  But, let’s look at it deeper at that point.  The Candidate owes allegiance to the Funders of his campaign so much so that the laws and policies that he passes in government are not based on the best interest of the people, but of the Funders.   There are exceptions to this rule, but not many.  The golden rule applies.

Now, the point of these analogies was to condition you to see things from a different perspective than that of the basic consumer.  Let’s look at the current battle I call World War 4G.  On one side you have WiMAX and on the other LTE (Long Term Evolution). 

*Long Term Evolution (LTE) started out as a 3GPP project “focused on enhancing the Universal Terrestrial Radio Access (UTRA) and optimizing 3GPP’s radio access architecture,” according to the 3GPP website.  This was in 2004.  In 2007, the LTE of the 3G radio access technology evolved into a product that was approved by technical specifications.  3GPP predicted that by the end of 2008, LTE would be ready for commercial implementation.

•               LTE is the most recent in the line of the GSM broadband network evolvement.  Telecommunication standards have improved and advanced over time, going from GSM Technology to GPRS, to EDGE, to WCDMA, to HSPA, and finally to LTE.  The LTE technology became the fastest form of Internet connection yet.  HSPA only offered 11.5 Mb/s uplink speeds and 28 Mb/s downlink speeds, whereas LTE offers data speeds of up to 100 Mb/s downlink and 50 Mb/s uplink.

•               WiMAX evolved from a Wi-Fi, IP-based background. WiMAX went through several stages of development, yet always used the IEEE 802.16 standard established by the IEEE Standards Board in 1999 for the global deployment of wireless broadband networks.  From 802.16, the standard was amended many times and changed to 802.16a, 802.16c, 802.16d, and 802.16e—the most popularly used standard for WiMAX today.  Revisions of the standard have gone up the alphabet all the way to 802.16m, with the most advanced version expected to be completed by December 2009 and approved by March 2010.  Each amended version of the WiMAX standard increases coverage capacity and service performance.

 

The respective histories of LTE and WiMAX are pretty different; their technologies, however, are pretty similar:

•               Backwards Compatibility: LTE is designed to be backwards compatible with GSM and HSPA.  This means that when a mobile device exceeds the range of an LTE network, it can fall back on a 2.5 or 3G network assuming it has the requisite radio technologies.  The updated WiMAX standard of 802.16e known as “Mobile WiMAX” is backwards compatible with the previous WiMAX standard of 802.16d, known as “fixed WiMAX.”

•               OFDMA & MIMO: LTE incorporates Multiple In Multiple Out (MIMO) in combination with Orthogonal Frequency Division Multiple Access (OFDMA) in the downlink and Single Carrier (SC) FDMA in the uplink (http://gsmworld.com/technology/lte.htm).  In 2005 the IEEE WiMAX standard was updated to 802.16e to use scalable OFDMA and MIMO in its uplink and in its downlink as well.  In the 802.16m WiMAX versions, SC-OFDMA will be used in the uplink instead of OFDMA. By using OFDMA and MIMO as a base, both LTE and WiMAX are able to provide high spectral efficiency, improve signal capacity, and reduce signal latency.

•               Speed: Fixed WiMAX can offer speeds of up to 75 Mb/s and Mobile WiMAX offers speeds of up to 30 Mb/s. LTE offers much faster uplink speeds of 50 Mb/s and downlink speeds of 100 Mb/s at peak rates.  However, WiMAX is soon to adopt the 802.16m standard that will enable the service to offer speeds of up to 1 Gb/s.

•               IP: Both LTE and WiMAX are IP based instead of mobile phone network-based; WiMAX follows the IP pattern of its Wi-Fi predecessor, while LTE breaks from the earlier telephony GSM technology.  All voice applications for both WiMAX and LTE are managed via VoIP.

•               FDD & TDD: LTE primarily uses FDD for full duplex on two 5 Mhz channels, while WiMAX uses TDD for half duplex on one 10 MHz channel.

•               SIM and Customer ID Systems: LTE will require the use of a SIM in order to  operate.  This will be convenient for cellular devices that are already compatible with a SIM, but not for laptops and other technological devices without SIM interfaces.  WiMAX does not require a SIM or any other hardware token.  Therefore, all authentication methods used to identify a customer’s device will be easily entered into several devices.  The one WiMAX device can be configured to use one set of customer ID settings, enabling it to be easily used for multiple WiMAX networks in different locations, or within the same network but for different customer identities. According to Jason Hiner of Technologies, this is an example of the major difference between WiMAX and LTE.  WiMAX is more of an open Internet service and its devices will be compatible with most all Internet devices.  LTE, on the other hand, is more exclusive to certain ISPs. If you buy an LTE card from Verizon, you can only use it with Verizon products.

Endorsers: So far, Vodafone, Verizon, and AT&T have declared their support for LTE technology and intend to adopt it as their next-generation mobile communications technology.  Intel and various CPE manufacturers has been the main supporter for WiMAX, mainly in Asian and European countries.  Clear, Clearwire’s WiMAX service, is available in major US cities and offers 120 MHz on the 2.6 GHz band, while LTE is not expected to be majorly available until 2013.

I will be keeping my eyes posted to the news and media to watch who does what and with whom.  Will Europe go the way of LTE, as America surely seems to be doing?  Or, will WiMAX capitalize on its head start in the market and show staying power in the face of adversity?  Stay tuned… STAY MOBILE!!!

*Reference:  Information interpolated from www.goingwimax.com September 22, 2009 article.

The TAO of Quantum Mobility

Welcome to the TAO of Quantum Mobility.  I am the Open Mobile Mogul.  I invite you to peer through my eyes and see what I see in the future of our social and technological future, as it relates directly to mobile phones and their evolutionary fate (4G and beyond).

So, I have been doing a little study into Quantum Physics and the idea of spacetime, via the grand antics of Dr. Stuart Hameroff and his superlative theory of consciousness existing at a Quantum level within the confines of Spacetime Geometry (I don’t make these things up, but it sure sound like me, doesn’t it?). 

Through mobile technology, we are able to manifest on a literal level the Quantum concept of Superposition in spacetime, the ability to simultaneously exist in multiple locations.  Obviously, we are successfully able to achieve this via the wonderful little handheld device called the smart phone.  With this device, I can exist in multiple places doing multiple things simultaneously.  To the observer, I am very static in my physical position, or it appears that I have “collapsed” into one state of existence in spacetime.  However, to those on the other end of the mobile spectrum, I am just as real to them in our social (or otherwise) interaction as I am to you whom are reading this blog.  The key to understanding what I am saying is in the principles of spacetime.

Spacetime (physics) – the concepts of time and three-dimensional space regarded as fused in a four-dimensional continuum.

According to certain Euclidean space perceptions, the universe has three dimensions of space and one dimension of time. By combining space and time into a single manifold, physicists have significantly simplified a large number of physical theories, as well as described in a more uniform way the workings of the universe at both the supergalactic and subatomic levels.  In other words, our existence in our society, and the direct interactions between persons socially, can be organized and defined by the same rules of the Quantum level.  Hmmm… lets think on that for a second.

Our society, as a result, has moved from an exclusive ecosystem, to a more defined and specific ecosphere.  Where an ecosystem is defined as a biological community of interacting organisms and their physical environment, we see that our society is no longer confined to interaction in a specific physical environment.  We are now stepping into an environment where the interaction between the living and nonliving components is emphasized.  Via the advent of mobile technology and social networks, we are able to virtually communicate and socialize outside of the realm of space and time, as we know it.  We now exist in technological spacetime geometry! 

But, in layman’s terms what does all that mean?  Well, that is the nature of this blog and very much the intrinsic purpose of the TAO of Quantum Mobility.   I will be utilizing this blog to express my ideas and predictions, in the form of integrations of various realities, i.e. Quantum Mechanics, Spacetime Geometry, and indeed all the sciences of life, of the Next Generation of the Mobile revolution.  Much of what you will see and hear via this blog will entail the qualia of my personal study towards the establishment of a company based on the TAO of Quantum Mobility that will not only revolutionize the way we see mobility and “smartphones”, but hopefully be at the forefront of introduction of it as a reality to you, the consumer. Enjoy!!!