Genius Brewing

March 19, 2011

On one of those days where I’d clocked 4+ hours of diligent work at my local Oakland, CA coffee shop, some geniuses must have heard me think, “damn, they should really be charging for rent space here.” Gaylord’s coffee shop in Oakland is a prime example. At any given time the small coffee shop has at least twenty or so regulars on their laptops. Trying to get a table? You may have to wait a few hours.

The geniuses at i/o Ventures have created Summit, a coffee shop on the first floor and a tech incubator on the second floor. According to the SF Chronicle, “Every four months, i/o selects and funds a handful of small tech ventures to the tune of $25,000 each in return for 8 percent of common stock. In addition to the cash, each team gets four months of office space at the Summit, mentoring from Web gurus like Russel Simmons of Yelp, and discounts on all the Pickle & Cheese Plates or White Snow Peony Tea they could possibly need.” They are also looking at creating options where people can pay a $250 membership fee and a $500 monthly fee for a dedicated desk.

Another sign of their genius-they serve BLUE BOTTLE COFFEE.

Read the article in the Atlantic here and the one in the SF Chronicle here.

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