Wednesday, March 18, 2009

The Basics of Digital Photography - I (Types of Cameras)

I have been wanting to write on this topic for a long long time now. Simply cos' this is something I have been picking up from numerous sources. Wanted to put all of this in one place, so that any amateur who wants to get deeper into photography can do so without feeling insecure about his/her ignorance of the subject :) We'll take it slowly step-by-step.

Disclaimer: I am no pro-photographer. I have just been learning online and on the field in the past year and a half. This series is a result of that. If at any place, you feel I'm wrong, or if you can add greater value, do comment away to glory. Let's learn together!

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All self-respecting photography primers begin with a note on the various types of cameras available in the market. So let me follow suit, though I don't know how much of a value add this is.

Typically cameras can be categorized as:
1. Point-n-Shoot
2. Prosumer
3. Professional
For you marketing guys out there, these could be the three 'P's of photography :P
And one P of a smiley.
(Sorry! :))


Point-n-Shoot:
These are basically the kiddos - small and cute.
Typically lower resolution (around 6-8 Megapixels) and lower zoom range (3x-6x). (W'll define these terms specifically later; for now, just understand that these are the most important specifications of any camera, for an amateur).
Most inexpensive of the lot (Priced less than Rs 10,000 to 12,000)
Easiest to handle, both because of the compactness, as well as the simplicity of features and controls. Every control has an auto mode. But the latter is its failing. It's nice to have such alarming simplicity when you start. But slowly as you discover the world of photography, you would start *HATING* Point-n-Shoots for their over-simplification and approximation of a lot of stuff.
Typically Point-n-Shoots look like biscuits :)
A point-n-shoot from the GE stable. Small in size, 4x zoom, but awesome resolution (12.1 Megapixels)

Prosumer
These are the mid-level cameras and are also called 'advanced point-n-shoot'.
All controls have auto settings, but also manual overrides for most of them.
Typically higher resolution (8 - 12 MP) and zoom (10x - 18x) than point-n-shoots.
Priced between Rs 12,000 and Rs 25,000 usually.
The cam that I have - a Sony DSC H3 - is a prosumer cam.
A Sony DSC H3

SLR

Single Lens Reflex cameras are the mean machines - the ones that serious photographers use.
Extremely high flexibility --> manual controls for EVERYTHING you can imagine. (They do possess auto modes too, but who would want to use them!)
Very high speed operation. This means that when you click, the response of the camera in shooting the image would be faster than in PnS or Prosumer type cams. Also, the camera gets ready to click the next pic very fast.
Have larger sensors --> in English, this means a better quality of pictures.
Very high resolutions (12.1 MP - 25.5 MP!)
One major difference in purchasing SLRs is that one would have to purchase an entire kit, as against walking out of the shop with a single piece of equipment. Typically, the SLR kit would include the body of the camera and lenses at the bare minimum level. The body is the square part of the camera that one would hold, and the lens is the barrel that extends at front. These have to be bought separately. There are different types of lenses for different usages. More on them later. Additionally, there are many more components a pro would have in his SLR kit, lets not bother ourselves with all that for now.
So basically the zoom range of the camera depends on the lenses one buys along with the body.
And the defining characteristic of SLRs is that they are extremely expensive!! Actual prices depend on the kit one buys, but they could range from Rs 30,000 to lakhs!
An Olympus SLR
Left: Body with lens attached
Right: Separate lens, detached

Well, then. Those were the basics about the different types of cameras one could buy.
The next post would be a bit technical, with details on how photos are 'formed' in a digital camera. We would also see how an SLR cam differs from an ordinary one. One need not know all this to click good pictures, but I believe knowing this gives one greater confidence. And extra knowledge doesn't pain, does it?

Keep clicking...

Saturday, March 14, 2009

The essentials of VC funding

One great thing about being in a place like IIMB is that we get to listen to a whole lot of ideas from a number of big names. In the one year I have been here, I have had the opportunity of being in the midst of people like Dr APJ Abdul Kalam, Subroto Bagchi (MindTree), Captain Gopinath (Air Deccan), Gurcharan Das (India Unbound fame), Raju Narisetti (Editor - Mint), etc. (And of course, KK too :P)

I am planning to put up notes of talks by such people on this blog henceforth. Something to revive this space with :)

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"Essentials of VC funding"

Date: 22-Aug-08
Event: Eximius - The entrepreneurship fest of IIMB
Speaker: Ravi Shankar - a representative from Sequoia Capital

Notes from his talk:

Sources of capital for entrepreneurs:

  • Personal Savings
  • Friends and Family
  • Incubators (like NSRCEL) – friendly money.. cos the intent is to encourage entrepreneurship..
  • Angel Investors – High Networth Individuals
  • Seed Funds – Band of Angels
  • Venture Capital

Why go to VCs?

  • Large cheques thru the early life of the company (upto $10 – 15 mn)
  • Throw open networks and contacts
  • Help in strategic issues
  • Help focus entrepreneurial energy on key issues.. entrepreneurs are ppl who work on intuition.. so to ensure they focus on the right things.. (my inference is that this basically means the VC will poke his nose into one’s affairs a lottttt!)

What VCs ask for in return?

  • Minority stake in the company (10 – 45%: depending on how much money needed, and how soon)
  • Board seats (a third party in the family)
  • Affirmative rights (VCs want a say in decisions involving senior management – say recruitment of top 5 employees.. CXOs.. VC contacts too help here)
  • Time bound liquidity event (IPO, promoter buying back investor’s position etc)
    • Most VCs look for a 5-yr time bound involvement with companies

(Overall, it takes away some flexibility from our way of working)

If entrepreneur wants to exit prematurely, can he?

No.. usually its lopsided.. VCs have the control.. usually there is no statement in the contract that says entrepreneur can buy back the investor forehand..

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There are times when conflicts arise between VC and entrepreneur..

Once VC is on the board, if we wish to take in some other investor, the VC will want a say in that..

VCs work very closely with the companies.. weekly calls, monthly meetings etc..

VCs are not in the business of risk acceptance; they are in the process of risk avoidance. In India, most VCs rarely take concept risks (“this product will increase height by 5 inches”).. they take only execution risks (things that have worked elsewhere that are being started in India.. say, online DVD rental)

Why not banks?

  • Collateral
  • They usually ask for 3 years of experience - P&L / Balance sheets

The investing community believes having ideas is not a big thing.. having money is..

When VCs get an idea ahead of time, they advise the company to stay in touch with the market, doing adjacent things until the market is ready..

Is my intellectual property safe when I discuss it with VCs?
It’s difficult for VCs to get into NDAs cos they need to interact with lawyers etc to whet the idea out.. but VCs will be cautious cos of their reputation..

Best way to reach a VC is through references.