Traditionally, memories were stored in shoeboxes filled with photographs and letters. Today, we are just as likely to remember dead friends and relatives online. A new generation of internet start-ups mean that you can now leave behind memories, and make your final wishes clear, online, safely and securely. Based in Paolo Alto, I-Tomb.net, is one such venture. Alfred Tong, interviews its ceo, Jacques Mecehelany, and finds out why an I-Tomb is forever.
Why did you decide to launch I-Tomb?
It is something I have wanted to do for a number of years. 20 years ago my grandmother passed away and she gave us a leather bound photo album. We saw her and her friends. It was fascinating to see her life. But we didn’t know anything about the photos or the people. We didn’t know who these people were, their names. Anything.
In 1870 they were using the latest technology, cameras, to record their lives for the prosperity of future generations.
Today everyone can use the latest technology like video, to leave a message for future generations. We can change the way history is recorded. You can George Bush talking about Iraq and then you can cross analyze his version of events with other people’s versions.
I have three kids and a few years ago I was taking planes every other day. In one year I spent 120 days on a plane. I would often wake up not knowing what city I was in, and I thought, 'What if something happened?'
What are the benefits of using I-Tomb?
Psychiatrists believe that one of the big problems when someone dies is all of the things that are left untold.
Imagine you can tell your kids that you love them, and the opportunity to put them at peace with an after death message. It would enable to people to be at peace.
Also there are many questions involving last wishes, cremations, funerals etc. Here you just create a video, The mere fact that it is there means that those who are left behind feel comfortable and can prepare for it, The know it and can see it. It makes them feel better. The tension about what you wanted is gone. You can communicate the untold. This has a real psychological advantage for the people left behind.
Explain to us your business model, why should people pay a fee when some existing applications are free?
A traditional internet revenue model would not work with our business. Advertising revenue fluctuates. We are not a traffic oriented website. This is something you sit down to and share with your family, not something you happen across when surfing the web. Furthermore, what are you going to advertise on a site like ours?
Many people have been asking, ‘Why should you pay for this service?’ But how much value do you place on leaving a legacy? It’s only interesting when you take the time to build it. You will be spending decades. If enough people use the service we are talking about a huge amount of data and also the conversion of that data to the latest technology.
Our business model is similar to the insurance business. When you subscribe to life insurance you pay every year. The sales the company generates are based on the solid financials of the company, which is based on the long term.
How are you going to deliver this service?
The company’s reputation is key and this is based on a reliable cash flow and long-term investment. We are not an ‘Internet company’. It is a real service that is provided by the internet. We are a real company doing real things. It is not a short-term thing. It will be a slow process.
We want to provide a credible offer. The best technology and the capacity to protect that data, and a long-term commitment to constantly convert that data to the latest technology.
For instance, we do not use cloud computing. We use a secure data warehouse in Switzerland. They are our commercial partners. All of the top banks use this company to secure their data.
We must ensure the company has the means to provide this service. That’s why we created a business model where the consumer pays money to maintain data. You have to ask yourself how important is the legacy of your ancestors or how important is your legacy?
What is your background and what are your credentials for launching a business like this?
I come from a banking background. In that industry we think long term. It is not a quick thing. It is a long-term business and you have to build the company in such a way. We will launch an IPO in a few years. Not because we need the cash but because we need to show that we are completely transparent. People can see that we are solid. A company like Lloyds or Barclays was not built in 5 minutes.
What has the reaction been so far?
We are dealing with a large market. I think when people realise the potential, it will be like mobile phones, in so far, that people will ask, ‘Why shouldn’t I have this? Not, ‘Why?’
Our market research showed that people are positive. But the market will take time. People will have to be convinced by the credentials of the company, just like when you’re selling insurance policies.
We need to spend time demonstrating we are here to stay. And we need to spend time and energy developing a user friendly interface and secure database.
How are you going to get people talking about death?
Advertising is one way. We know there are certain psychological states when you start thinking about these things: illness, the death of a loved one and the birth of a kid, for instance. These are the times when you have to deal with your affairs.
It’s going to be people who are 40, planning for retirement, and taking out life insurance. Or maybe when you’ve just been to a funeral. That’s when you have people’s ear.
What are your long-term aims?
Some of the oldest corporations like UBS last for centuries. There is no reason why, if we are totally focused, why we shouldn’t achieve that. At the moment we are not thinking about how much profit we are going to generate. What we are thinking about is, ‘how can we build a solid company?’ We believe growth comes from longevity.
When big car manufacturers calculate profits they think about how much they can afford to invest in the next program of innovation and development. It is the same for us. We need to be around for, at the very least, the next 50 years. That promise needs to be fulfilled.
Also there are many questions involving last wishes, cremations, funerals etc. Here you just create a video, The mere fact that it is there means that those who are left behind feel comfortable and can prepare for it, The know it and can see it. It makes them feel better. The tension about what you wanted is gone. You can communicate the untold. This has a real psychological advantage for the people left behind.
We want provide a credible offer. The best technology and the capacity to protect that data, and a long-term commitment to constantly convert that data to the latest technology.
For instance, we do not use cloud computing. We use a secure data warehouse in Switzerland. They are our commercial partners. All of the top banks use this company to secure their data.
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