Twitpay has raised an undisclosed amount of angel financing and will launch a service that allows users to order and buy downloadable content, via Twitter.

The Atlanta-based social payments startup, launched four months ago, allows users to make payments of up to $1,000 through the micro-blogging phenomenon that Twitter has morphed into.

Twitpay is part of an eco-system of services and applications that is transforming Twitter from a social media site into a communications — and now an ecommerce — platform.

CEO Michael Ivey was tight-lipped on the details of the fundraise. After some prodding, he ventured to say that seed funding for Internet startups at Twitpay’s stage is generally less than $300,000.

Congratulations to Twitpay, the hottest concept to come out of Atlanta in some time.

Twitpay Raises Seed Funding - AtlanTech

The following is my account of the Wifi Cat ruse we pulled off last week at Startup Riot 2009 in Atlanta. This is from memory, so the timeline may be a bit off here or there - but it will give you the gist.

This was very funneh.

Scott Burkett’s Pothole on the Infobahn » Wifi Cat: The Backstory

Purewire has some startup money and is one of many examples that Atlanta’s Internet security industry is thriving despite a sour economy. New technologie s combined with a growing group of cyberthieves continue to create opportunities for new research and new companies.

“Atlanta is a good place to start a security company,” Judge said. It has enough companies and educational assets to attract talent, but not as many companies as in Silicon Valley, where job-hopping can be excessive. “There’s more loyalty, and you can focus on building a company.”

Atlanta is rising star in field of Internet security | ajc.com

Star Caller provides a fun and fresh way to promote an assortment of products ranging from entertainment to hard goods. Star Caller utilizes celebrity fan bases to promote our clients products. Our marketing is successful because it not only reaches the target demographic, it also provides leads for our clients that would normally be unattainable.

What is it? Fun, dynamic phone calls, in the voice of stars and customized to the individual characteristics of each fan. Our technology allows you to speak directly to your fans - and have your brand go viral so that fans market you to others.

I wish Jello good luck with his new startup!

Star Caller - Home Page

A few years ago, at Chicago's O'Hare Airport, I noticed something strange on the departure boards. American Airlines had three flights scheduled that afternoon from ORD to Boston, and all were apparently operating on time. United, on the other hand, had three flights scheduled from ORD to Boston, but none were operating on time. In fact, all three United flights showed "canceled."

I smelled a rat. I went to the United counter and asked the reason for the cancellations. "Weather."

Weather? The airlines couldn't have it both ways. Either American Airlines pilots were irresponsible, crazy air jockeys who were going to tease the gods and fly into the face of serious storms, or United's official cancellation reason was a convenient untruth.

I checked the weather in both Chicago and Boston: totally clear.

I went back out to the United gates and informed the counter agents that I knew the weather was fine and also explained that all the American flights were operating without problem. And then I invoked Rule 240 — which states that in the event of any flight delay or cancellation caused by anything other than weather, the airline would fly me on the next available flight — not their next available flight, which might not leave for another 24 hours.

And guess what happened? A lot of United passengers made it to Boston that day — on American.

Stranded at the airport? Don’t forget Rule 240 - TODAY: Travel - MSNBC.com

Fortunately for America's 95 million investors, Adams' secret nine-point formula was finally revealed in "Dilbert and the Way of the Weasels." Notice its simple brilliance in the exact reproduction of his formula:

1.
Make a will
2.
Pay off your credit cards
3.
Get term life insurance if you have a family to support
4.
Fund your 401k to the maximum
5.
Fund your IRA to the maximum
6.
Buy a house if you want to live in a house and can afford it
7.
Put six months worth of expenses in a money-market account
8.
Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement
9.
If any of this confuses you, or you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio

Adams boldly states that this is "everything you need to know about personal investing." In just 129 words, nine simple points, one page you have the unabridged "Unified Theory of Everything Financial." That's it. Everything!

'Dilbert's' 9-point financial plan worthy of economics Nobel - MarketWatch

It is the only explanation for what we are seeing. The markets should be selling off like crazy, given the financial problems. They are not. They keep bouncing back, no matter how hard they are driven down. That money is not coming from the financial institutions and hedge funds that got ripped on mortgages. But it is coming from somewhere. We think that somewhere is the land of $90-per-barrel crude and really cheap toys.

Many people will see this as a tilt in global power. When others must invest in the United States, however, they are not the ones with the power; the United States is. To us, it looks far more like the Chinese and Arabs are trapped in a financial system that leaves them few options but to recycle their dollars into the United States. They wind up holding dollars — or currencies linked to dollars — and then can speculate by leaving, or they can play it safe by staying. In our view, these two sources of cash are the reason global markets are stable.

Energy prices might fall (indeed, all commodities are inherently cyclic, and oil is no exception), and the amount of free cash flow in the Arabian Peninsula might drop, but there still will be surplus dollars in China as long as it is an export-based economy. Put another way, the international system is producing aggregate return on capital distributed in peculiar ways. Given the size of the U.S. economy and the dynamics of the dollar, much of that money will flow back into the United States. The United States can have its financial crisis. Global forces appear to be stabilizing it.

The Chinese and the Arabs are not in the U.S. markets because they like the United States. They don’t. They are locked in. Regardless of the rumors of major shifts, it is hard to see how shifts could occur. It is the irony of the moment that China and the Arabian Peninsula, neither of them particularly fond of the United States, are trapped into stabilizing the United States. And, so far, they are doing a fine job.

Friedman Writes Back » China and the Arabian Peninsula as Market Stabilizers

Welcome to Startupping

Startupping is a one-of-a-kind community resource created for Internet entrepreneurs by Internet entrepreneurs. It is a place to share information, ask questions, and tap into the experience of others who have built and are building web businesses. Read blog posts about startup issues, participate in our discussion forums, and view our wiki resources, including sample term sheets and a glossary. For more information about the Startupping site, see our about page.

Most cool!

Startupping - A Community for Entrepreneurs

n 1953 the celebrated Harvard behavioural psychologist BF Skinner published a paper about the gambling habits of rats. Testing his theory of 'operant conditioning' he had noticed a strange compulsive tendency among his laboratory rodents.

When one of Skinner's rats pressed a lever, it was given a food pellet. By experiment Skinner then established that if a pellet was delivered only on the 10th press of the lever, the rat would quickly learn to press the lever 10 times. If, however, a random element was introduced to the lever-pressing, whereby a pellet was still introduced on average one in 10 times, but sometimes delivered twice or three times in a row and sometimes not for 20 or more presses, the rat apparently became obsessed with the lever-operation itself.

This is how I feel about the Nintendo Wii. Here is another take on the Wii... Not safe for work... :)

The best chance you'll get? | Review | The Observer