Click: Twitter CEO tells his story.

And some facts about Twitter:

Neville Hobson on the Growth of Twitter
How Much Is Twitter Worth (in 2008)
Twitter in 2009

So, the question is, how does this work in Northwest Georgia? How do we encourage lucky accidents, patient investors, techno-social savvy?
Please feel free to respond.

And yet, business development took center stage at last night’s 98th gathering of the Greater Rome Chamber of Commerce, and the night’s speakers slowly swelled in a call to the same vision: “a crisis is a terrible opportunity to waste.”

As is traditional, the night began with a slate of awards and recognitions of service. Notable among them were the Ambassador of the Year, Kay Chumbler of Greater Rome Bank, who “never met a microphone she didn’t like” and exuded the sort of bubbly, contagious enthusiasm that makes it obvious why she was chosen for the honor.

Small Business of the Year was R.L Jennings & Associates, whose time in Rome has meant a growth from two to 23 employees, multiple offices, over 2,500 clients across the globe, several previous Ambassador award winners, and a managing partner’s civic accomplishments and efforts that put many to shame. Upon accepting the award, Lee Jennings, encouraged all small businesses to “go for it” even in tough times saying that when he and his partners were “looking at the door, the Good Lord simply kicked us through.” Finalists in the award were Big Time Products, Midian Roofing, and Paula’s Silver & Gold.

After a full slate of recognition for participants in committees, boards, and chamber activities, Randy Quick prefaced his passing of the gavel with remarks highlighting the year’s accomplishments in business and capacity development. “This year has indeed been a year of growth for business and the community,” he urged, noting the $22.5 million in investments pledged by several local manufacturers, the 1-75/411 expansion project, airport enhancement, and enlarging of local education options in the form of Floyd College and Career Academy’s new School of Robotic & Engineering, Berry’s capital campaign to build two new dorms, Darlington’s new middle school, and funds allocated for the new Model High School. After many a heartfelt expression of gratitude for friends, colleagues, and family, he then passed the gavel of chairmanship of the Board of Directors to David Newby, General Manager of Profile Extrusion.

David Newby, an active Kiwanian, member of the Oak Hill Church of Christ, member of the Gold Wing Road Riders Association was introduced by Quick as “the right man at the right time.” His speech began modestly, but soon crescendoed into what will more than likely become the mantra of many a business leader or perhaps the Chamber itself: “a crisis is a terrible opportunity to waste.”

Newby became active in the Chamber’s GREIA after his company transitioned from being an asset of a large corporation with limitless resources to small, privately owned manufacturer. In this group, he found a network of like-situated business leaders who encouraged him to invest even in the uncertain time his company faced.  He did so, leading a multimillion dollar investment in new technologies that is now earning Profile Extrusion new and continued business. While recognizing the uncertainty and the challenge present in the current economic climate, he urged the room to consider that “it’s times like these where managers and community leaders matter most.”

His four hopes for the coming years are to add Georgia Highlands as a four-year limited mission college, the availability of an Associates Degree at Coosa Valley Technical College (now Georgia Northwestern Technical College), the building of an Angel Investor Network connecting investors with entrepreneurs, and acquiring more property and infrastructure to build the city’s capacity for development. Already underway is the release of a marketing plan aimed at attracting retirees and a series of small business seminars and workshops.

Later questions for Mr. Newby as well as Al Hodge, Chamber CEO, revealed that the Angel Investor Network is indeed becoming a reality with the chamber facilitating the organization of local investors and training in best practices from other successful networks.  This approach to investment is one aimed to encourage entrepreneurial and technological advances locally.
>Rome Retirement
>Profile Extrusion

Thiel spoke from his experience as a successful American entrepreneur, hedge fund manager, and venture capitalist. After founding PayPal in 1998, he certainly enjoyed his share of the financial boom of yesteryear selling the successful internet commerce business to eBay for $1.5 billion in 2002.  The person-to-person (or P2P) transaction manager was a groundbreaking concept which allowed safe financial transactions online between individuals.

Peter Thiel as appearing in Fortune Magazine (Image Link)

The Chinese and Japanese have the “corner market on labor,” India is “chief of services,” and “France and other European countries control the market on luxury goods,” he said.  America, however, is defined by the “frontier,” an important concept he finds unique, saying that “in most countries, people are not of the nature to do new things.”  This nature of Americans to innovate or participate in an entrepreneurial capitalist system works, he said, “so long as there is some sort of frontier.”  He fears that the mistaken belief that the metaphorical frontier is closed might lead to “ordinariness” and the positioning of United States commerce against countries that are “simply better” at manufacturing, labor, services, and luxury goods.

No matter how Americans fall on issues of politics or religion, he said, most still believe that the country retains the ability to do unique and extraordinary things. This industriousness is what unites Americans above race or creed and ensures that, while the economy may get worse before it gets better, it will indeed bounce back.

Thiel believes that recent implosions in the financial market and pending failure of large automobile manufacturers will lead to a return to a spirit of entrepreneurship on the local and industry-specific level “not just in Silicon Valley and Los Angeles, but across the country, wherever a frontier in business can be found.”

He argued that the current financial crisis is indicative of the problem of change on a policy level due to special interest groups and lobbyists. A firm believer in the power of the market, he conjectured that “maybe the way for the right change to occur is for the whole thing to break.”

While these are alarming words, they were couched in a deep sense of optimism in that which he does not think can be broken or changed—the American spirit of inventiveness, productivity, and industriousness. Of course, Thiel himself serves as the prime example of what inventiveness brings.  President of Clarium Capital Management, LLC. and Managing Partner of The Founders Fund, he invests in other small and start up businesses with the more than $6 billion in management capital the company has control over.  One such business was Facebook,  a phenomenon he instantly recognized as “frontier-type thinking,”and he still serves on its Board of Directors.

Read more from Peter Thiel:
Policy Review, The Optimist Thought Experiment, Feb/Mar 2008