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tv   Press Here  NBC  November 10, 2013 9:00am-9:31am PST

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a reunion of e home brewed computer club and the future of video gas. a former green beret outflas the stock market to rais funds. mark hatch, one of the first os to take advantage of the jobs act. pl a reunion of the home future of video games wit not one, but two n systems headed to stores this week on "press:here." go morning, everyone. i'm scot mcgrew. the normal way for a new compa to raise moneys to offer shares in a publicoffering witness twitter this past week. there is a different wayhough act. possible through the jobs jobs is short for jump start our business startups. the relatively n law allows
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private companies to raise money by advertising t potential investors. what the law calls general solicitation. now, the chainech shop set out to raise $60 million, practically the moment after the s.e.c. gave t go-ahead to solicitation. tech shop,ind of gym for creators. members pay a monthly fee to acss a factory really where they c make just about anythi. mark hatch is the ceo and co-founder of tech shop. tech shop revolutionizing manufacturing,atch using a revolutionary way oaising money. he's a former gre ret. he sort o foments revolutions. i'm joined by rich and levi. thank you for being he this i'll point out to the viewer that youave been onbefore, and we may get a chance to talk more about tech sh, b if we don't, on the wsite you and i talk about ituite a bit. i'm a enthusiastic fan. that said, let's tal about this
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way of raising money. you're trying to raise 0 million. >> that's right. >> the other day, last week barracuda network's rsed $72 milln in anipo. so we're talking about small ipo level kinds of money here. >> right, right. but the difrence is in an ipo you've g threeears of autoed financials. we'rstill a little too i don't think toe able to go through all that kind ofwork. we're going after the early age investor you can't really get an early stage investor using an ipo. you're already doing your ipo. >> b that said, youre getting ipo-level funds. >> absolutely. >> ablutely. viable alternative. >> to going to t open market. >> is this a substitute for ipo or is this something that bridges the gap between angel and venture invesng and ipo?
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>> you know, ihink it will work in ery single one of thos cases where you don't necessarily have to use angel anymore. you don't necesrily have to use venture capitalists. you can go dirtly to a we have those groups, those groups evolve partiallyecause you have never been able to vertise to let people know you were trying traise money, so they were one of the filters or aonduit or funnel for instors to be ae to find coanies like ours. to use those.t necessarily have we can actually go dire. >> thateing said, how do yo convin people to put their money with you? you're not doing arospectus or all thosehings i assume. what's your pitch? >> w doave a full-blown prate placement memordum withll the appropria disclosures and three years of historical financials and all the thgs you would normay see,ut what we don't have is like a leadnvestor who is establishing a particular value. that we have to set on our own, and we go to individual
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investors and convince them that is is a gd deal. i understand.late so i'm sure your proem in this situation is not getting the investor or convincinghe investor, it's deciding if i give you $1,000 or $10,000 or $100,000 how much of tech shodo i get back. >> right. >> that's the problem these sortof things would have. >> potentially. you ll end up with a piece of what -- >> how big is the piece is kind of thessue there. >> yeah. >> how he youound it? considering the re of the movement? >>'m very pleased. we're actually going to use this mostly in each locale like we were able to do here in california california hadn exclusionhat allod you to do this bore the jobs act came out. it wasn' very well-known but we were able too that. but since we announcedn day you were allowed to do it, announced $60 million campaign. we've gotten about $5 million i interest. i haven't converted that yet,
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but that's a prey healthy chunk of what it is we're trying to raise. >>an i then turn around and sell my tech shop to rich? >>no. this is -- can i sell it bac to you? no. i can take that as no. don't have a open market to be ableo do that thing. investments that are like five toen years. they're illiquid, you will only go after qualifi investors. subtleties of this, how would this be difrent than ten years agof i said my friend mark wants to open up a tech sp and i gave him money because i thght it was a great idea. >> friends and family is the way 's been done. >> it's the advtising -- >> it's t advertising piece that's the key, right? we're raising a significant amount of money in a lot of cities we don't have anyriends and family in. and so -- real quick, how my cities? >> we're loong at 11 new cities. all t big ones, ston, n york chicago, l.a., seattle,
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some of the smaller on, grand rapids, cedar rapids, and baltimoris not thatmall t -- we're already i open-ended trade. there.elped us open aocation the local piece was the ha. you n't have friends and family indetroit. then how do you raise $3 million to $5 million to open a the answer now is i canng going literally advertise. i can eet. this conversation that we're having right now six weeks ago would ve landed me in ja. s.e.c. wouldrobably be waiting at the door ready t -- nowou don't get to be on a plic mpany for the rest of your li, yada, yada, yada. have never had iny career hing i before, and it's bn quite limiting. the first time i went to an attoey, i was working with some folks, we hadhis great idea. we eventually end up with a friends and famy but i was 25 at the time and i told t torney, this is great. i'm goi to take a ad out i
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"the l.a. times." said, no, you're not. >> speaking of attorneys, did you haverouble findingeople who were qualified to do this? s.e.c. saysou can do it, you did it, presumably there's some studying alongs we went, but this inot a mure indury. >> not by any retch. we work closely with our atrneys and others to make sure we did it correly and had the advice. >> so how areou finding the money? you mentioned twitter. are you putting up billboards outside of town thatsays, hey, got money to vest? we have aocial caaign. wectually right on o website when you hithe website, it says would you like to bring a tech shop to your ci, click here, and it goes through an entire campan on h you can talks into coming to yr city. you can nominate a city. it's got the 11 cities we're terested in, whether or not you wa to become member, whether or not you want to invest, wheth or not you're interested in a loan. and it kicks off a seven-stage process that we walk people rough. qualified. surehey're
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>>o make sure they're a qualifie investor. >> they know the risks. >> they know what the ris are. >> i offer you the best of luck, wish youhe best of luck. i'm a big fan. i don't get there as often as i wish but tech shop is a wonderful ace to be. thank you r being with us this moing. comi up next the reunion of the home brew comter club when "press:here" continues.
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welcome back t "press:he." i'm scott mcgrew. at something that later turnede out to be historic knew at the experience wouldurn out to be. 1976 when two geeks both former hp employees, both named steve, showed their friends and colleaguest the home brew which they called the apple n moment in the tv movie "pirates
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of silicon valley." >> the schematics we have a -- >> first computerou're ever goin to see. >> lee feldstein wasn't jt there at the momt. he was probably the guy with the yardstick as t moderator of the homerew computer club, which when we're going tolash his name on the screen, we will refer to you as home brew computer club but we could refer to you in a million different ways, electrical engineer, a designer of e first porble computer, the inventor of the penny wstle modem. you have had an accomplished life doing many things,ut for the moment the moderator athe home bre comter club. so bring m back to thismoment. i realize the club was way bigger than jus the two steves and e moment of apple computer, but did you know when they walked in with the bhat they hadomething that was woh looking at?
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did you say, oh, i see this? >> that scene in "pirates of l silicon valley" is hardly accurate. >> first it was in berkeley. true, did you know when the real life stes walked in the room theyeally had mething? steve wniak was theret the openin the first nht in the garage. he signed up on the list of things of the stuff he's worked on and stuffe's interested in. steve wozniak wld sit in the only seat in the stanford lear an electrical outlet.m tha had he would claim thateat and he would do his devopment there every meeting,nd he's took him as a fixture.always he never spoke from t audience, which is what eryone s supposed to do when they had something to say to draw
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attention to themselves. he was just t shy as h told me later. but he was there doing the devepment of the ale one, of thepple basic, and later the apple o, i understand. so he was famiar. and then one d after the apple one, if i'm not mistaken, metime in thepring of 76, we worked itut withhim, he convced steve jobso come to >> wait, steve jobs doesn show up until the home brew computer club until after the apple one has been introduced? >> i don't know about the dates. whether the apple one haseen introduced or t - remembering the conversation, no, it hadn't been introduced, it wa in process. >> he wa working o it during the meings? anything during t meetings.n >> let's use last names, woz and jobs brinme lack back to that moment.
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not, in which they sort of walk you thugh it? a demo as we call it today. >> a i reca, they showed t in the lobby during the time peopleere coming in. we had tables out there for that purpos >> did you loo at that and say, oh, yeah,t's ather thing that anoth guy at theome brew computer ub has made or did you say it was gng to change t world? >> i didn't think it was world-chging at that point. it was another one of several things that were already the app one wasn't a very ced. thriing machine. i can go into technical detail - >> no, no. let the guys jump in. >> how many people were in the ho brew computer club, the original. >> original meeting was 30 people. when we incorporated i 1976 or '77, there were five members. if someby says they were a member of the club, there were only five people but that's just
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a legal technicali. the rm held 274 people, i overflow it. sometimes we would the mailing list -- i just came across the mailing list from 1977 last night, and it's about 300-some names. in1978 we had to unroll a roll of teletype paper across t entire room it was 3,000 names. so pick a number. >> you're having a reunion of the fellow were they allellows? >> no. >> reunio of these people come monday. >> that's right. mond night we're going to be athe cputer history muse. unfortunaty, it's sold out. so i can't be a good salesman here. >> you can charg more money per ticket. >> don bother coming. yes? >> in additi to the ple, apple one, a lot ofnnovations came out of the early day of
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the home brew computer club, hypertext and so on. i'm wonderings you loo at how the indury hasdeveloped, you now have these big,normous multinational corporations that inany ways grew out of some of those early ideas. when you look at that, do you have any -- did you have any idea that that was coming, and industry has evolved, areou satisfied wh what you wrought? >> well, satisfaction is hard to come by. i personally am not but can't eak for hers. i do say that the concept of cloudcomputer, using the cloud, never see , it's rtual, re you forget about it. that sounds an awful lot like the mainframe computing days we tried to overturn. we have almostome full circle regard, and that' not the end of it. so there'slways more to be
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done there's new generations coming up who will doit. we'reust old geezers. we're not goi to be the ones to do it, but we cld at least ll some of thyoung ones how progression.been a linear e did. some things haveone wandering away and 23 companies were formed out of home brew club of which apple is really the only survivor ps whatever info world became. it got bought up by various dia conglomerates. the rest are gone that'she normal way of things en a business environment is dynamic. so i don't hear too many people from those daysomplaining about how things have turned out. you know, each of us had some kind of difrent vision, and we didn all talk about it. i have always tried to get people to tell me what was the
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vision? the best i can tellight now is we were impeld by the work that sart brand did with the whole earth catalog in selling the idea, which is what rketing is, of hands on use of technology as something that's not only fun and interesting, but is really necesry as a partf building a society that really works. an i guess that's wha we were all after. you were developing the osbor computer,hich if you're too younto remember, was essentially this suitcase and the p of theuitcase came off. that was the keyboard. the's a story in marketi calledhe osborne effect. are you familiar with that? >> oh, yes, i am. >> gist of it i they vent t osborne comput, it's marveus forts time but the inventor says we have another oneoming down the road that is even beer to which the sales of the osborne o collaps because
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they're waiting for the two. is the story true? >> parts of it are true. it's not the whole stor >> enougho be kind of a rule of thumb or a story in a business? case but it isn'the wle hool thing by any means. >> i he oneinute for you to tell me that story. can we go with it'srue enough? we had an ibm comtible in development, a we tol as they went up on stage introducing the executive which was the new osborne two, don't say anything about the ibm compatible, and he went up tre and bught the crowd to a rousing cheer and then he sa, and if think that's somethingust wait until you see our ibm compatible. >> lee, i'm going to call that true enough. >> theoom did not go quiet though. >> it's like apple introducing th ipad this is cool but wt until two
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years. i appreciate . with your reunion on and thank you for the things you brought silicon valy as well. andhank you for being here. will people line up for anything other than say aew iphone or an ipad? miosoft andony sure hope so. we'll have look at the video game industry when "press:here" continues.
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welcome back t "press:here." 're less than a week away from the release of a brand newideo game system,he playstati 4. sony will start selling the device in the united stateshis coming friday. then a week later on novber 22nd, microsoft answers withe actually the trd generation ofis xbox. the game software company h
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ubisoft and the fello we tn to when it comes to the game industry. welcome back. >> thank you. >> let me preface say i am qualified to ask these questions play 45 minutes of battle field 4. that said, i don know that i l that interestedn the new consoles. did the gaming industry fail to get me going or am i justo old they don't care? >> well -- >> both. >> i think it's definitely an excing moment for people who arreally into their hardware. you cat even preorder one of thes machines right now. they stopped taking preoers. they're sold out. so the is this contient of people who just have to have at first one. the big marketing and the big push -- it doesn't have to ppen right at e beginning ke that. >> okay. i was wondering why nobody was marketi to me. >> but you're going to want one eventually. >> sure. >> is one reason you're going to want one because theames aren't compatible with previous gerations? >> you're goingo want one beuse the games areoing to
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be a lot beer, and, you know, as the time gs on, six months 12 months, and as these companies like ubisoft get more time under the hood with these things, you will see the gap between what youan play now that next machine is going to ge broader a bigger and you're going to wt that. >> will you guys immediately stop ming gamesor the xb -- for the previous generation >> that's part of the issue right now. we have so my resources focused on making surehat what we call the current geration, the playstation 3 and xbox 360, that's where the bulk ofur sales are still coming this holiday. we can't just wal away from all these great customers. but we do want to cater somewhat to this guy who is movin on to the xt generation. he been wting for yrs for this machine, you kno so we need to make sure w give him something. >> yr high game is the assassins eed. i love the very first version.
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>> i was very disappointe to find out you were playi -- >> battlefie 4 which is made lectronic arts. yore going to me two versions of thithing, right? >> yes. >> you can't reasonably expect- if i buy assassins crd tomorrow, that i'm going to spend another 60 bucks on the xbox one version, will >> no, and that's not really what our goal is. there are proams out in the marketplacehere you can actually upgde if you d buy assassin creed for the curre generation u can upgradeor 0. sony has a program. for $10 you can upgre to th new one if you do it within a certain period of time. the end game i not to get of the game, but we want peopls to move on to the next generation. many publishers are doing the same program. >> the whole push behind these consoles inecent years has gaming, to makehem more into
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home entertainment hubs, you can get online video, whatever, ove them. is this the moment where there's pushback and t focus returns to gaming or is this just going to b a blipwhere, you know, the people have to have the latest hardware, evebody else is going t go back to watching tflix on their xbox? >> well, i mean, the number one is through playstation right x now. >> is that right? >> ye. they do use these things already. watch netflix.ot cheaper wayso >> but the machinesre already in their houses. >> these machines, these new machines, definitely are being positioned a majorome entertainmensolutions but the way in is through gaming because there areany ways t get that soluon, and we do count on that core fan at the begning
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ofhe cycle to really push mouth out.s in get that word o these are the opinion leaders. these are t ones who will tell people, this mhine is cool, the games are esome, but it also does all these other things for me. but that's not a good message to send rht out of the box becae that's not what tt gamer wants to hear. he wants to know it's a great game chine. >> saking of gaming, the kine, i reali you have to be cautious because microsoft and are your partners in business do here, but the's never been a kinect game where erybody talkabout it the way theydid, say, the wii oromething like that. maybe not. >> well, i'm -- my husban is a gamer, but im not, but the wi sort of brought me . now, wh the kinect my daughter a i playance central. >> okay. >>o games like that. virtually go to disneynd, an though we've taken her to the
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real one. but there are gamesike that. >> do you think the new kinect will bring in more of these gamers. it's an up graded versi othe me thing. >> absolutely. that stem was designed to be more accessible. that's what the kinect did. kinect itself is not a hardware system. it's a add-on. wh we added that on, suddenly games like just dance could be really popular a ey to use for everyo. and by the way, i disagree, you are a gamer bause you play and that the point. we have games for everyone, and that's the goal forll of u is to broaden that audience over time. more and more people exposed t these maines because you wer exposed through your huand, and then you becam a player and you nowouay purchase the next just dance. that's the game a that's the way weeally hope it will go. >> tony,hank you for being with us this morning.
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>>y pleasure. >> "press:here"ill be back in just a moment.
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> that's our show f this week. thanks to my guests. for making us part of your you sunday morning.
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llo and welcome to "comunidad d valle"ly. i'm damian trujilltrujillo. we have special verans day shown your "comunidad del valle." ♪ we begin today with the parent instute for quality education or piqe. here is a brief look at their progm. the classrooms are always filled with students who have tou questions for the teacher, but these students are different. they're parents. >> i'm participating in this have my kids go off to the to university, and this program


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