Greg Selkoe -- Too Cool to be a CEO?

The query in this post's title may be my own personal grudge against any buff-dude who rocks a purple v-neck better then myself, but legitimately -- who the hell is this guy? And why does he have a graduate degree from Harvard's Kennedy School of Government? And why can't I find any information about Karmaloop cable ratings?

Turns out that Selkoe -- and his "creative director" Pharrell Williams -- were counting their eggs a little too early in the above Bloomberg interview, which is from 2011. Their efforts to start their own cable network were stymied by the bureaucratic, old-world "TV Guide" system, to the point that Selkoe abandoned plans for the network and instead doubled-down on the online TV efforts. Ever the victorious Boston Bro, Selkoe noted in July 2012 that Karmaloop videos "received 70 million video views in 2011, and is projecting 350 million views in 2012." They also were planning a scripted comedy, as well as advertising deals with Red Bull and Burton Snowboards.

Selkoe may look like a 19th-century Irish prizefighter, but damn if his steadfast support for creative content isn't inspiring. I, for one, am a huge fan of Karmaloop's content -- especially "That Life" with Carissa Rossi. Rossi has "America's Sweetheart" potential -- like an ethnic Katie Couric for the 21st Century.

Two Questions:
a) How much ad revenue do the videos generate? Or are the videos primarily to draw traffic to the Karmaloop Store?
b) What is someone like Carissa Rossi's salary? i.e. What's the market valuation of a well-liked Internet personality at a successful online retail start-up?

Blackout!!!!

India's country-wide power grid failure has got the doom-sayers coming out in droves. "It's like a day of reckoning coming nearer," said Rajiv Kumar, secretary general of the Federation of Indian Chambers of Commerce and Industry. 

My apartment, along with much of Mumbai, remains blissfully unaffected by the power outages; I guess this is just luck, but I still feel like I'm in a destined little bubble of Western privilege, opining from on high about the poor, power-less (and powerless) masses across the nation. Screw it, I'm gonna opine anyway.

As has been said many times, this disaster was completely predictable. Anyone who's driven along an Indian road for more then two minutes can tell you the infrastructure doesn't exactly inspire faith in Indian engineering. Funny, given the nation's formidable Indian Institutes of Technology and emphasis on STEM studies. 

Yessir, my beloved home-of-the-moment has got a long way to go before I think it could fairly be called 100% "developed." But then again,the U.S. infrastructure is also crumbling, as a result of the summer's extreme weather. Soooo...it's the end of the world?

Can't think of anywhere I'd rather spend the apocalypse.

Indian 1% Put the American 1% to Shame

Last weekend, driving through South Bombay after dinner, one of my friends pointed out the 27-story personal tower of Mukesh Ambani. He noted that the tower's amenities included several floors serving as car showrooms, and a massive ice skating rink serving as another floor. I think I may have muttered something then about "wasteful" or "insensitive," but what I meant to say was "Boss-status!" and then pretend I'm shooting a basketball, the international sign for "ballin'."

Because if there's one thing this country appreciates, it's tasteful moderation.

Of course, this is Mumbai, so right outside the tower there were decaying storefronts and a few beggars wandering around. Even in the relatively posh South Bombay, I took the little trappings of destitution to be par for the course. 

I was thus happy to see a fairly thoughtful breakdown of why India's nicest neighborhoods are, like, not really that nice in the Wall Street Journal today. Hint: It's not because the rich aren't rich enough. 

"The contrast between the popping champagne corks inside and the filth outside is striking. Again, the simple economics of incentives explains why. Many of the wealthy diners who frequent these establishments pull right up to the entrance, and so don't need to worry about the filth outside," writes Rupa Subramanya, referring to upscale restaurants in midtown Mumbai located in shoddy neighborhoods.

Basically, Subramanya contends that Mumbai's rich have no emotional stake in their neighborhoods, since it doesn't cost much to hire a 24/7 driver and roll through the fecal-filled streets in a tinted-window Escalade, sipping mineral water and breathing circulated air imported from the Himalayas. She argues that the Indian aristocrats take care of the public services that matter to them -- electricity, for instance -- and as long as the infrastructural absurdities of the outside world don't impede on their personal space, they feel no civic duty to demand improvements. Even if their "personal space" happens to be a 27-story mega-apartment.

Fair enough -- but I still don't think the article gets to the core of why Mumbai's wealthy don't demand infrastructural and design improvements to their neighborhoods at large. As Subramanya herself points out, in places like the U.S., there is a clear relationship between real estate quality and the quality of the surrounding sidewalks, parks, public schools, etc. If you were to build a mansion in the middle of the Bronx, for instance, you'd of course be hard-pressed to make a profit, because the poor quality of the surrounding houses and public services directly affects the value of the house. Expensive houses are in expensive neighborhoods, ipso facto.

In India, I would be very curious to see how "neighborhood quality" affects house valuation. The wealthy are of course "clustered" here as in other places -- it's not like you'll find a personal showroom in the middle of Dharavi. But still, if I built a 27-story tower for myself, I'd want to make damn sure my neighborhood is pristine, classy and ideally not near any shanty-towns. I don't know if it's a lack of civic duty, or if its just impossible to distance yourself from the poverty here, but I'd certainly like to find out.

On that note, any Indian billionaires want to hang out this weekend?

India in the News...That's a First...

The New York Times ran an interesting -- if incomplete -- timeline of India's modern economic history as told through magazine covers from the past 10 years. More accurately framed, this is a history of the mainstream media's coverage of India's booming decade.

Basically, according to this timeline, BusinessWeek first beguiled the general public with tales of a sexy, brown-skinned "vanguard of one of the biggest mind meld's in history," right before Wired warned everyone that these brilliant young computer whizzes were going to take our jobs...then a few more random stories about how great and liberal India was becoming...then a 2007 BusinessWeek piece about how India's horrible infrastructure and overpopulation may stunt growth...and going right up to The Economist's 2010 cover of a swiftly running tiger, representing India's potential outpacing of Chinese economic growth. Mee-yow, Economist!

The piece came on the heels of the Time cover labeling Indian Prime Minister Monmohan Singh "The Underachiever." A far cry from the October 27, 1947 cover of Time where Vishnu made her U.S. debut...or something....

Of all the publications, I have to say that the 2007 BusinessWeek article tells the story the best. That elephant on the cover is a pretty apt metaphor for India's growing pains...that poor, poor elephant. Yes, there is an awesome amount of entrepreneurship, rising education and general brilliance in India, but before they eclipse Silicon Valley they're going to need to fix some potholes. Literally. I can't count how many times I bump my head in the autorickshaw on the way to work.

Peering Over Poverty

Before I came to Mumbai, I knew I would see poverty. I just didn't know it would be shoved in my face so brazenly.

That's a photo my friend took of an impoverished lil' Mumbaikar peeking in our taxi window, begging for a spare rupee. Fortunately, I was warned multiple times as soon as I arrived: don't give money to beggars. The effect is apparently like that South Park episode where Stan Marsh is mobbed by homeless people after he gives a nickel to one vagabond.

The poverty I've seen here mainly manifests itself in the pollution and general lack of hygiene in certain neighborhoods -- adults relieving themselves in the streets, children walking around naked, cardboard shanty towns, etc. And I haven't even visited Dharavi, in northern Mumbai, where leopards from the nearby Sanjay Ghandi National Park apparently 'nom on village children regularly.

Mumbai also has a ton of opulence and "new money" as well, and I still haven't come to terms with my proximity to some truly horrible human living conditions. Will of course keep you all updated on this new-found humanitarianism as it develops. This whole "sympathy" thing is all new to me...

Tha Swiss Connection

On my flight to Mumbai, I had a two hour layover in Switzerland. They were two of the cleanest, most pleasant hours of my life. I indulged in some deliciously nutty authentic Swiss chocolate from an airport vendor, explored the sleek, somewhat Euro-hipster designed airport -- bathroom doors were constructed of polished metal -- and admired the view of the mountains from the airport bay windows. 

The flight over to Mumbai on Swiss Air was equally delightful -- the vegetarian pizza they served was top-notch, and even the seats in the economy-section were roomy and comfortable. 

So landing in Mumbai and stepping off the squeaky-clean Swiss Air jet into a wave of heat and curry smell was not the most desirable contrast.

Above: If I could live on that jet, I would.

Since my all-too-short time in Europe, I have vowed to go back there as soon as feasibly possible and plan a good ol' fashioned EuroTrip. For me, this is actually a fairly big step forward: before this year, I was truthfully baffled whenever someone listed "traveling" as one of their favorite hobbies. But it's amazing what two hours near the Swiss Alps can do to a person's psyche. 

However, before I experience Europe I still have pretty much every landmark in Mumbai alone to visit. Yeah, this past month hasn't quite brought me outside of a ten-mile radius. 

In the meantime, I've been watching this video to get me pumped up about traveling in general. WE NO SPEAK HINDI!

Indian Rupee at Seven-Week High; "The Amazing Spiderman" is Dubious; And Other News

This was a cray cray week; I saw "The Amazing Spiderman" in iMax 3D. That night was significant because it also marked my first time truly getting "caught" in an Indian monsoon. We were stuck for about an hour in a small Wadala back-alley market -- with no electricity -- as the streets got more and more flooded and the imposing Indian locals inched creepily close.

But perhaps even more important: the Indian rupee is rebounding! According to the Wall Street Journal, it reached a seven-week high against the U.S. dollar yesterday. Now if only if the dollar can sink below that 53.79 rupees mark, I can REALLY celebrate this Fourth of July!

Oh yeah, by the way, the Amazing Spiderman was WeakSauce Malloy. I'm pretty sure they just rummaged through Sam Raimi's office trashbin for the storyline. My good friend Hipster Spiderman would be ashamed.

Suggest Unto Me Your Biographies

This blog just passed the venerable 50+ views mark. I'm going to ball-park that only 25 of those were me, so either my half-assed attempts at SEO maximization are working and forcing people to stumble upon "Of Bombay and B.Doyle," or there is a burgeoning market for content with regards to media critiques and avant garde gangsta hip-hop. 

So, let's interact: I need biographies to read. As previously mentioned, I just finished Neil Gabler's Walt Disney biography, and am currently in the midst of Walter Isaacson's Steve Jobs biography. Shoot me a suggestion of a biography about an epic personality or epoch-defining businessman, and I'll friend you on Facebook! Oh, the private pictures of mine you could view.

But seriously, biography suggestions. I wants them. Now. This Mumbai heat makes "epic" books the only kind worth sitting down and reading.

Above: Mickey Mouse, the product of a tortured, perfectionist soul, according to Neil Gabler.

Rupee Hits All Time Low...Morale at All Time High...

So the Indian rupee was in a hell of a free fall this week...as of a few hours ago, it hit yet another "all-time low" of 57.12 rupees to the American dollar. That's bad news for the millions of us who get our paychecks in rupees...and ostensibly even more demoralizing for the small minority of us who had the option of working for the good ol' American simoleon.

Thankfully, this unfortunate bit of news is the only annoyance I've had in an otherwise fantastic week. Every fellow worker I've encountered here is young, cosmopolitan, and educated. Case in point: on my team of seven analysts, at least three have MBA's, all are under the age of 30, all are well-paid, and all are extremely articulate on the unique economic and social challenges their country faces on the road to economic stability. Anecdotes may not speak as loud as statistics, but it's still hard to get down about a few inauspicious economic indicators when I see first hand the growth and excitement of business here. 


Worse comes to worse, I'll just start acting in Bollywood movies for some extra cash, maybe do some back-up dancing. I could show the guys below a meannn Harlem Shake...

Speaking of New Media Mistakes...

Last Friday, I logged onto The Onion to get my weekly dose of fake news. After clicking on a headline -- I think it was "Capricious God Violently Shakes Ant Farm Day After Bestowing Orange Slices Upon Colony" -- I was greeted by a confusing, self-defeating notice:

"...If you enjoy our probing and analytical journalism and want full access, we ask that you support our hardworking reporters by purchasing a subscription for as low as $2.95/month or $29.95 a year."

Uhhhhhh.......pay for comedy? Online? And are they actually trying to make a joke by referring to "probing and analytical journalism," right before they name their price? Hardy-har-har, Onion.

Needless to say, these yucksters have lost a reader. It's probably for the best though; I was becoming increasingly weary of articles which were less and less hilarious and more and more, I donno, liberal. Like "Victim in Fatal Car Accident Tragically Not Glenn Beck." As if we can all chuckle to ourselves knowing we share a mutual hate of Glenn Beck. Except I don't. Amurrica, mothaf***as!

Above: The Onion, in simpler, funnier times. RIP.