The two things we respect most in an entrepreneur are experience and passion. In entrepreneurship, as in life, they do not always go together. So we are thrilled to be working with Peter Semmelhack, the founder of Bug Labs, our latest investment. Peter is undeniably experienced. This will be his third start-up. He is also undeniably passionate. For the past year and a half, he has ted every moment he could spare from his family and his day job, and more money than he should have, to the development of a product and service that he believes the world needs.
Here is Peter's description of his new company.
Bug Labs is developing BUG, an open, modular, consumer electronics web services + hardware platform. Designed for the general audience, not just the technically inclined, Bug seeks to bring to the world of hardware gadgets what the Internet, open source, XML and web services have brought to the world of software and media.
Over the last few months, Peter has challenged some of our basic assumptions about the relationship between web services and devices. You can see some of that reassesment in Fred's February post - Web Serivces and Devices.
We agree with Peter that the relationship between web services and devices will become more intimate and more seamless. We share his enthusiasm for this vision and are confident in his ability to make it real.