Decoding the High-Tech press release

In the interest of restoring investor confidence in the market, we at Omphalos would like to offer a lesson in decoding the high-tech press release. We start with an actual press release from an actual company whose name is redacted for obvious reasons, and explain in layman’s terms what the company is trying to convey. … Continue reading “Decoding the High-Tech press release”

In the interest of restoring investor confidence in the market, we at Omphalos would like to offer a lesson in decoding the high-tech press release. We start with an actual press release from an actual company whose name is redacted for obvious reasons, and explain in layman’s terms what the company is trying to convey.

Original in plain text, translation in italic.

XXX Networks, Inc., formerly known as YYY Networks, Inc., develops breakthrough technology and Wireless LAN products that enable mainstream adoption and new applications by vastly improving the quality and convenience of the Wireless LAN consumer experience.

We’re jumping on the Wireless LAN bandwagon.

XXX’s networking solutions, based on the IEEE 802.11 standard (also known as Wi-Fi), dramatically improve the quality of experience for WLAN users and solve issues that limit usability of today?s WLAN products.

There’s no real difference between our company’s network gear and anybody else’s, except price.

XXX?s technology gives users secure, easyto-use, standards-compliant WLAN capability that works in both the 2.4 GHz and 5 GHz bands. The breakthrough wireless technology provides performance for even the most bandwidth-intensive applications ? truly eliminating the need for wires at home, at work, and in public places.

Our wireless network doesn’t require wires – cool, eh?

The core team at XXX comprises a world-renowned group of wireless product and technology entrepreneurs from Cisco, Agere, Bell Labs, Nortel, Intel, Philips, and other companies.

We can’t hold a job.

XXX?s founders include the founders of ZZZ, a company that revolutionized OFDM wireless technology and was acquired by Cisco Systems in 1998.

We got lucky when Cisco was buying everything in sight.

XXX?s founders also include key technologists from Agere who invented the latest generation of Wireless LAN standards technology.

Agere (now Proxim) is a better company.

The company’s main office is in Palo Alto, California, USA, and it has development centers located in Fort Collins, Colorado and Breukelen, The Netherlands.

Our engineers don’t want to deal with the people on the company’s marquee; neither do you.

This public service presented by the Omphalos for your reading pleasure.

When in doubt, bash Microsoft

The dirty little secret about the tech press is that most of it isn’t very technical. While columnists like Dan Gillmor, Declan McCullagh, and John Dvorak opine week after endless week about computers, the Internet, operating systems, and security, it’s doubtful that any of them has ever seen the actual source code to any significant … Continue reading “When in doubt, bash Microsoft”

The dirty little secret about the tech press is that most of it isn’t very technical. While columnists like Dan Gillmor, Declan McCullagh, and John Dvorak opine week after endless week about computers, the Internet, operating systems, and security, it’s doubtful that any of them has ever seen the actual source code to any significant piece of software (let alone understood it), a block diagram of a significant ASIC (let alone the Verilog), or even an encryption algorithm.

Given this fundamental ignorance, it’s no wonder that, when confronted with a new issue they don’t understand, the tech press’ opinion leaders fall back on familiar old battle cries (which frequently have nothing at all to do with the issue allegedly under discussion,) and to quoting each other as if repeated ignorance becomes wisdom. Case in point is Dan Gillmor’s column in today’s Mercury News, echoing an earlier Cnet column by Declan McCullagh to the effect that the Bush Administration is missing the boat by not beating-up on Microsoft in the name of computer security. These are McCullagh’s remarks (Gillmor’s are derivative and therefore uninteresting):

But, according to people familiar with the draft report, it pays scant attention to Microsoft, which has been responsible for more online security woes than any other company in history.

Such an omission would be glaring. Intentional design choices and unintentional bugs in Microsoft Windows, Outlook, Word and Explorer have created vulnerabilities so numerous they’ve become legendary. Shoddy default settings have practically begged intruders to plunder Windows-equipped PCs. Any serious look at Internet security has to start with the world’s largest software company.

But the Bush administration appears to have punted. During an invitation-only briefing last Thursday, a National Security Council official told about two dozen attendees from civil liberties groups and trade associations that the White House had no problem with the Internet’s “monoculture” environment. Biologists warn against plant monoculture, which permits pathogens to spread like wildfire. The same principle applies to malicious code and our largely-Microsoft Internet environment.

In the first place, the plan is a high-level look at the security situation as it exists today, and a set of recommendations for improving security in the future. There is no reason for it to dwell on any particular piece of software or vendor; even if there were, I don’t want my government telling me what software to buy.

Then there’s the great and wonderful use of the term “monoculture”, the biological term popular among posers of all stripes in discussions ranging from culture to education to technology (but rarely to farming, where it actually applies). McCullagh brands Microsoft with the mark of the monoculture beast, a distinction they would deserve even if their software was next to perfect, simply because they have so much market share.

There are two problems with this, and they both speak to McCullagh and Gillmor’s lack of technical sophistication: 1) Not all Microsoft operating systems are the same; Windows 95, 98, 2000, NT, Me, and XP have different vulnerabilities, as do the Office Suites at various release levels; and 2) the alternative to Microsoft, Linux, has actually reduced diversity across the Internet as a whole, by assimilating a formerly wide variety of Unix platforms under a single standard. In the example McCullagh cites, the monoculture curse can be broken by growing different varieties of rice, the relevant analogy of which is different varieties of Windows or Unix. They don’t see their own logic at work.

But more importantly, “monoculture” (or “standards”, as we engineers like to say) doesn’t inherently weaken network security, as long as the standard has strong safeguards. And when we shift the discussion around to the relevant safeguards, Gillmor gets all freaky about control:

But the much-ballyhooed, much-revised “National Strategy to Secure Cyberspace” looks alarmingly like a recipe for the world’s control freaks — the people who view security as a way to help big government and big business regulate the way we use technology.

It’s about control, alright — about people who own property having control over it, and the power to protect it from theft.

And that’s the thing that really bugs our columnists.

Your favorite sites

According to Alexa, people who visit this site also visit these sites (Related Links for: bennett.com/) People who visit this page also visit: Oliverwillis Vodkapundit – Chill Before Serving Beers Across America Instapundit Lgf: Moving Every Zig For Great Justice Uss Clueless The Blogs Of War Nick Denton Daily Pundit Dynamist That’s a pretty nice … Continue reading “Your favorite sites”

According to Alexa, people who visit this site also visit these sites (Related Links for: bennett.com/)

People who visit this page also visit:
Oliverwillis
Vodkapundit – Chill Before Serving
Beers Across America
Instapundit
Lgf: Moving Every Zig For Great Justice
Uss Clueless
The Blogs Of War
Nick Denton
Daily Pundit
Dynamist

That’s a pretty nice collection of links. Alexa also says 146 sites to link to this one, and I’ve never read most of them. The Internet is a large and mysterious place.

Assimilating WiFi

Symbol unveiled a new wireless LAN access point and switch combo that’s the way of the future (Symbol wireless switch to centralize control of WLANs) SYMBOL TECHNOLOGIES UNVEILED this week an intelligent wireless LAN switch that may herald a change in how IEEE 802.11x networks are configured and managed. The Mobius Wireless System, which Symbol … Continue reading “Assimilating WiFi”

Symbol unveiled a new wireless LAN access point and switch combo that’s the way of the future (Symbol wireless switch to centralize control of WLANs)

SYMBOL TECHNOLOGIES UNVEILED this week an intelligent wireless LAN switch that may herald a change in how IEEE 802.11x networks are configured and managed.

The Mobius Wireless System, which Symbol claims is the first of its kind, includes the Axon Wireless Switch and Access Ports, rather than Access Points.

The Symbol access ports will use power over Ethernet and contain only an omnidirectional antenna and a radio chip, according to Ray Martino, vice president of network products at Symbol in Holtsville, N.Y.

“There’s not much more in a port than you find in a NIC card,” Martino said.

The Linux-based switch will support IEEE 802.11b, 802.11a and 802.11g and comes in a 1-U rack-mount design.

Management features include class of service, quality of service, and switched Virtual LAN support.

The two key elements are dumb and cheap access points that are little more than antennas, and a smart box running Linux that does all the hard stuff, including authentication, encryption, and routing. Symbol won’t do well with this product because customers want to buy their switches from companies like Cisco and Juniper who know how to build them.

WiFi News says this is a dominant trend:

Several other companies have similar solutions with a different mix of options, including Cisco, Proxim, and Sputnik. Look for more comprehensive information in a few weeks.

Oddly, their low-cost competitors don’t see the value of this approach, or of WiFi itself in many cases. They’ll lose.

The CIA does blog

Nick Denton sent me looking at this company: Oh no, the corporate wordmanglers have got hold of blogging. “Traction is a leader in next generation Enterprise Weblog software, delivering interoperable, inexpensive, rapidly deployable, open and easy to use tools for groups and teams to communicate, share, organize and link business information in context.” The Traction … Continue reading “The CIA does blog”

Nick Denton sent me looking at this company:

Oh no, the corporate wordmanglers have got hold of blogging. “Traction is a leader in next generation Enterprise Weblog software, delivering interoperable, inexpensive, rapidly deployable, open and easy to use tools for groups and teams to communicate, share, organize and link business information in context.”

The Traction product doesn’t sound like all that, but they do have some interesting investors, such as In-Q-Tel, the CIA’s venture capital fund. And here I didn’t even know we had such a good public/private partnership going in the USA. Now I know where to send my next business plan.

This is the most intriguing techno-dealie I’ve run across in a while, so it’s worth exploring some of its implications. Public/private partnerships are common outside the US, but we’ve never been real big on them here for a number of reasons related to the structure of our government, the nervousness of the left about wealth-creation, and the nervousness of the right about things that smack of socialism. But we have a number of them in the home mortgage area despite all of those worries, and they work well.

One of the reasons the Pentagon buys $6000 toilet seats from defense contractors is to keep the contractors in business between big contracts, so there will be some folks to bid on the next B5 bomber project or whatever. A venture fund is probably a cheaper way to do this, all in all.

In-Q-Tel was created during the Clinton Administration, but given his non-relationship with the CIA, it’s not clear how it happened. Maybe he gave the CIA the go-ahead while he was distracted by an intern, maybe not. It’s worth looking into.

It’s fascinating, of course, that the CIA sees blogware as an important defense technology. I suppose they’ll be using Traction to bring down Saddam and the House of Saud; maybe get the bad boys so obsessed with blogwars they don’t notice the laser-guided precision bombs blowing the phone system to bits. That would be cool.

And finally, the pacifist, left-leaning, vegetarian web elves of Friscotown are going to explode when they learn that their peaceful hippie collaboration tool has been borged by the Military-Industrial Complex for its nefarious ends. Kind of gives the term “warblog” a whole new dimension. Ha.

Accel recants

Mercury News | 08/05/2002 | Venture capital funds shrink Though investors had technically “committed” their capital to venture firms, most venture firms gave back some of the money to generate goodwill. Investors pay management fees on the uninvested capital — recently estimated by the NVCA at almost $200 billion — and this year started to … Continue reading “Accel recants”

Mercury News | 08/05/2002 | Venture capital funds shrink

Though investors had technically “committed” their capital to venture firms, most venture firms gave back some of the money to generate goodwill. Investors pay management fees on the uninvested capital — recently estimated by the NVCA at almost $200 billion — and this year started to complain venture firms weren’t investing it quickly enough. They said the venture firms had more money than they knew what to do with.

The most public spat came at Palo Alto’s Accel Partners, when some investors rejected Accel’s initial plan to simply halve its fund into two smaller funds, and not give money back. Accel recanted and gave back $461 million.

Accel must think its investors are fools to try and pull off a scam of this magnitude, but given the nature of their networking investments over the course of the past decade, such an idea would be simple projection. The bottom line is that any company with Accel as a lead investor is probably flaky.

A distraction

BBH&Co. Insurance Asset Management reports on expensing options: Every scandal has its poster children. For some reason, the lack of income statement accounting for executive stock options has become the scapegoat of choice for the most recent wave of corporate scandals. Former JPMorgan executive Walter Cadette declared in a recent New York Times Op-Ed that … Continue reading “A distraction”

BBH&Co. Insurance Asset Management reports on expensing options:

Every scandal has its poster children. For some reason, the lack of income statement accounting for executive stock options has become the scapegoat of choice for the most recent wave of corporate scandals. Former JPMorgan executive Walter Cadette declared in a recent New York Times Op-Ed that “the stock-options culture is at the root of the current scandals on Wall Street.” Warren Buffett placed the issue front and center this week with a scathing editorial (Who Really Cooks the Books?) claiming that option accounting was one of the two most “flagrant deceptions” in accounting today. Buffett declares that he is opposed to legislators setting accounting rules on principle. However, he is so appalled by stock option and pension surplus accounting that he is willing to make an exception to his own rules.

That guy writes so well, he should have a blog.

WSJ on options

WSJ.com – Thinking Things Over discusses options today: To put it another way: The essential purpose of earnings reports is to help the market price stocks accurately, so incorporating the share price into earnings is circular and confusing. Earnings per share is a calculation with a numerator and a denominator. Options will already show up … Continue reading “WSJ on options”

WSJ.com – Thinking Things Over discusses options today:

To put it another way: The essential purpose of earnings reports is to help the market price stocks accurately, so incorporating the share price into earnings is circular and confusing. Earnings per share is a calculation with a numerator and a denominator. Options will already show up in the denominator as they’re converted into shares; they’re already included in “fully diluted” EPS. By what logic should they be factored into the numerator as well?

They also do us the favor of supplying the famous Black-Scholes Model that’s supposed to restore investor confidence in the market, to whit:

blackscholes.gif

Now you feel better, don’t you?

Weblog tool survey

— John Hiler has his survey of weblog tools up at The Microcontent News Blogging Software Roundup – Part One of the Weblog Industry Report I’ve hoped for a while now that someone would sort out this weblog fruit basket, so we could compare apples-to-apples and oranges-to-oranges. So far, it hasn’t happened… so over the … Continue reading “Weblog tool survey”

— John Hiler has his survey of weblog tools up at The Microcontent News Blogging Software Roundup – Part One of the Weblog Industry Report

I’ve hoped for a while now that someone would sort out this weblog fruit basket, so we could compare apples-to-apples and oranges-to-oranges. So far, it hasn’t happened… so over the last few weeks, I finally broke down and took a crack at it myself.

If you want the job done right, sometimes you’ve got to do it yourself. As interesting as the survey is, it strikes me that the reason blogs took off around 2000 or so wasn’t so much the tools as it was the free services offered by Blogger and others. It’s not really that much easier to update a website with Blogger or Movable Type than with Netscape Composer, but with Blogspot you don’t need to own your own web site. Anyhow, the tools are getting better and better, and within a few months we’ll have some serious power, whether poor old John has been excommunicated or not.

Boycott Coca-Cola

A friend sent me this e-mail which was circulated around his company recently. As this was an internal document, I’ve elided the company’s name, but pass it on because it’s an excellent idea. If Coca-Cola wants to dictate employment practices to other industries, those of us who disapprove of their position can dictate back. Here … Continue reading “Boycott Coca-Cola”

A friend sent me this e-mail which was circulated around his company recently. As this was an internal document, I’ve elided the company’s name, but pass it on because it’s an excellent idea. If Coca-Cola wants to dictate employment practices to other industries, those of us who disapprove of their position can dictate back. Here you go:

—–forwarded message—–

TO: DL-All-California

FROM: Facilities Information

DATE: July 25, 2002

SUBJECT: [Company’s] ban of Coca-Cola

Coca-Cola Company recently announced their decision to expense their employee stock options. While their action appears to be benevolent to the investing public, Coke does not use options as extensively as the technology industry, and the impact to their financial statements is very small. Coke is also deviating from the Black Scholes model preferred by the accounting profession, further reducing the earnings impact of their decision. Their action was clearly propelled by their chief investor, Warren Buffett, who has campaigned against stock options for years.

The issues in this debate are complex, but the one fact we employees should understand is that if options are expensed then the number of options granted to workers in technology will go down dramatically. Options have helped [Company] and other companies in the volatile technology arena attract the best and the brightest. Options have given our workers a share of the growth that their extra efforts have generated for shareholders. Warren Buffett may not want to share that growth with you, but [Company] firmly believes that growth would not exist without you. We will continue to defend the current accounting for options, which provides full disclosure of option grants, and leaves it up to investors to decide the true impact to shareholders of stock options granted to employees.

As a symbolic gesture of our disdain for Coca-Cola’s recent grab for headlines, Coke and products of the Coca-Cola Company will be removed from [Company’s] vending machines and cafeterias. We would also urge you to write to Coca-Cola and tell them that you and your family will not purchase their products while they use their marketing power to try to deprive you of your opportunity to benefit from the technology we create.
—–end forwaded message—–

All of this makes me wonder why, if Jimmy Warren Buffett is such a genius investor, shares in his holding company Berkshire Hathaway (BRKa) are trading at 63,650.00, below its pre-bubble, 1998 level, and why, if he’s such a champion of the little guy, he doesn’t split the stock to a price that the little guy could actually pay. Jimmy Warren is most likely one of those “do as I say” guys.