Fw: Texxi Mission
Eric Masaba to: Michael.Butler, Trevor.Ingle, steve.meck 12/11/2007 05:31
Cc: Matthew Burden
nanbillj, pbooth, JBlundell, David.Wright, Tim.Abbott, peter.a.santoro,
jonathan_havice, paras.sidapara, John.Decourcy-Bower, Lee.Taylor, mike,
leslie, sgrant, mikael.jigmo, mka, Christian.Vial, graham.parkhurst
Stage 1 - Prove the basic technology. Raise funds with an anchor investor (that would be Bill
Johnson, legendary trader)
i) Using a 5 yr old Pentium 3, a free SMS service and no small amount of "Macguyverism" in 2 days
Texxi Prototype was constructed and tested
ii) Used techniques from work at National Grid, study at Imperial College/Ecole Centrale, work
iii) Made contact with Hammonds law firm to discuss putting company together and options
iv) Started to look for partners for the venture - 1 person above all came to mind, an
Engineer/Technologist/Investment Banker fromYorkshire - Matthew Burden who I worked with at UBS
FX Exotics Options 12 yrs ago.
Achieved Nov 2004 - Mar 2005
Stage 2 - Launch a small scale trial in a target City.
i) Liverpool chosen, because a) Eric is from there, b) it has the largest number of cabs per capita for a
large city in the world, c) Scousers party too much and can't get cabs home
ii) Driver recruitment a particularly nasty experience. Helped dramatically by the recruitment and use
of 21yr old female Polish models
iii) Design partners and local and national PR found
iv) Patents applied for
v) Trademarks acheived in UK/Europe
Stage 3 - Prepare franchise licences / agreements
i) Many enquiries from the world over for Franchises (Mostly US, Canada, Australia)
ii) Finding and performing due diligence on potential Franchisee partners
iii) Tying up legal loose ends
iv) Moving UK companies to offshore entities (now due Q1 2008)
Stage 4 - Refine techniques and scale to a larger city / area
i) Planned for Nov 2006 - Jan 2007 in Brisbane. Unable to achieve these goals due to recalcitrant
ii) North Carolina ha sshown interest and this Triangle Research Area is perfect.
iii) Much more comprehensive infrastructure needed in 4 countries and 3 continents (UK, France,
Canada, Australia, Singapore)
Stage 5 - Move to Private Jets and other vehicle types
i) Partner with an Exchange / Investment Bank to work on DRT instruments
ii) Partner with 5-Star Hotels and Resorts to put Booking apps within their properties
iii) Partner with Hotel TV tech firms to deploy booking apps
iv) Strike deals with private jet firms to help fill their "dead legs"
v) Prepare an HLT alliance.
----- Forwarded by Eric Masaba/CraneDragon on 12/11/2007 12:42 -----
Greetings from China!
Liverpool has 22,000 cabs for 500,000 people. Each driver makes around £22,000 per year.
credit cascade risk.
Transitive Trust Relationships (Domains, SSL Certificates, Certificate Revocation Lists, Trust8.
applied to the Reputational Credit System)
Any credit system is based on trust networks. The internet system has been dealing with
these problems since its inception. So have computer file access systems. Many of these
innovations (from DNS, MX, IPv6, Kerberos, Active Directory, VAX/VMS privileges, UNIX
Kernel) can be brought to bear on the Credit Ratings / TexxiGroups Trust systems.
Theory of Markets (Exchanges, Brokers, Liquidity, Margin Calls, Options, Futures and Other9.
Essential background for the corollaries on the DRT Exchange.
Capital Structure Arbitrage (Convertible Bonds, Guarantees, Default Contagion, Reduced10.
Form Models, Copulas)
The womb from which Texxi was finally born. I needed to see Cap Struct Arb in action
(Equity, Bonds, Credit Default Swaps) before I saw the connection to transit.