Book Review: Private Empire – ExxonMobil and American Power by Steve Coll

If you were expecting Private Empire, the latest book by two-time Pulitzer Prize winning author Steve Coll, to serve as a hit piece on ExxonMobil (and 'Big Oil' in general) you’ll be somewhat disappointed.

For anyone unfamiliar with his previous work, Steve Coll’s earlier books include the highly recommended Ghost Wars, arguably the definitive geopolitical account of the activities of the CIA and other national intelligence agencies in Afghanistan and Pakistan from the time of the Soviet invasion up to the eve of the 9-11. Ghost Wars won the Pulitzer Prize in 2004 for general non-fiction and was one of the books a newly elected President Barrack Obama was reported to be reading upon entering office.

Steve Coll describes in an interview with Charlie Rose what lead him to want to write Private Empire and how his original idea for the book was to tell a broader story about the oil industry in the style of Daniel Yergin’s The Prize. He soon realized, however, that he needed a central character and Exxon was for him the only logical choice.

Coll’s portrait of Exxon begins in March 1989 with the Exxon Valdez oil spill in Prince William Sound, Alaska, an event which made the company the most reviled in the United Sates. The book’s timeline spans the subsequent transformation of the company, which was led by CEO Lee “Iron Ass” Raymond, up through its present day stewardship by current CEO Rex Tillerson. Along the way we learn a great deal about Exxon, including its somewhat peculiar cult-like corporate culture, its blockbuster merger with Mobil, its controversial stance and efforts on global warning, the access it enjoyed to political leaders such as Vice President Dick Cheney, its somewhat misleading approach to reporting oil reserves, and the company’s record setting financial success. The book in fact makes for a compelling business case study and students of business history, strategy and management will find much of interest.

The most interesting sections of the book are the ones detailing ExxonMobil’s operations in some of the world’s most politically unstable regions. ExxonMobil’s bread and butter business is to invest billions of dollars drilling holes in the ground in countries like Equatorial Guinea and Chad and then spend the next 30-40 years working to make sure that nothing interrupts the company's return on investment. Coll’s account of the 2004 attempted coup in Equatorial Guinea by a group of British and South African mercenaries, who were supported from some elements within the Spanish government, is one of the most fascinating stories in the book.

Continue reading the full review here.

Review Roundup for Michael Lewis' New Book - Boomerang: Travels in the New Third World

Below are a list of reviews published so far. And here are links to all the chapters in the book, which were previously published in Vanity Fair (except the book's preface on Kyle Bass).

NY Times

Telegraph

Forbes

Washington Post

Amazon customers

Book Review: 'Sustainable Wealth' By Axel Merk

Axel Merk’s Sustainable Wealth is very readable personal finance guide to today’s increasingly complex investment world. The book contains a wealth of practical information, and it can be particularly useful for novice investors who are interested in learning more about the role of macro forces and currencies, and how they influence markets.

About the Author

Axel was born in Munich, Germany and grew up in a family of investors. It was during college that he first began investing on behalf of clients. His academic training is in finance and computer science, and he has lived in many parts of Europe before relocating to the U.S. He is the founder and CIO of Merk Investments, a Palo Alto, California based mutual fund focused on currencies. In his personal life he is a distance runner and pilot, and he is married with children. Axel Merk also gives regular media interviews and periodically writes for SeekingAlpha.

Sustainable Wealth

With his book, written following the financial crisis in 2008, Merk aimed to reach an audience that is intelligent and interested but not necessarily educated in economics or currencies. While Merk runs a currency mutual fund, the book is not aimed at currency traders. Rather the book primarily targets the man in the street who is concerned with the actions of today’s policymakers. In the book Merk describes the pressures between where the market would like to go and the interference run by policymakers. Understanding this pull-push dynamic is at the heart of Sustainable Wealth.

One of the key themes of the book is the idea that “there is no such thing as a safe asset” and that investors may want to take a diversified approach to something as “mundane as cash”. The book contains a number of helpful, easy to understand explanations about the fundamental nature of the world’s current debt problem, and ways to address it on a personal level.

During an interview, Merk emphasized his independent opinion. That certainly can bee seen with his often seemingly minority view on the euro versus the U.S. dollar over the past 12+ months. Other than the temporary slide in the euro last summer to $1.18, Merk’s view on the euro has more or less proven correct. However, it is worth keeping in mind that Merk runs a currency mutual fund inside the United States, and that one of the ways in which more American investors would take an interest in his fund is if they are concerned about the fate of the U.S. dollar.

Continue reading the full review at SeekingAlpha here.

Book Review: The Bed Of Procrustes By Nassim Nicholas Taleb

'Most people write so they can remember things, I write to forget' - The Bed of Procrustes: Philosophical and Practical Aphorisms

Nassim Taleb's latest book is a collection of miscellaneous memorable thoughts (aphorisms), many of which relate to Taleb's disagreement and frustration with the academic economics practiced and publicly promoted by many Nobel prize winning economists.

There are two aspects of the title which warrant further discussion.

First, the term 'aphorism' comes from the classical Greek writings of Hippocrates. Given the various ills in economics which Taleb would like to see fixed, the appeal of referencing the father of medicine is quite clear.

The second aspect of the title, the 'Procrustean Bed', is also borrowed from classical Greece. The mythological figure of Procrustes would cut or stretch people to make them fit into his iron bed. Taleb's view is that many leading economists basically do the economic equivalent by framing the world in a way so that it fits into their quantitative models, rather than the other way around.

Continue reading the full review at SeekingAlpha here.

Review: Unlocked/Off-Contract Smartphone + giffgaff = Mobile Heaven

Does your phone company advertise with a gimp?

I regularly travel back and forth between the U.S. and the U.K., with extended stays (approximately a month) during each trip. Every time I make the transatlantic jaunt I receive a stark reminder of how much better Brits have it when it comes to mobile providers. Before I explain, a little further background:

Last year after owning all of the first three iPhones, each locked and on multi-year contract to AT&T, I made the smartphone switcheroo. Crucially, I decided to purchase my new device outright to avoid any multi-year contracts or being locked to a single carrier. In exchange for paying a relatively hefty ($500+) up front for an unsubsidized smartphone, my total cost of ownership should come in around or under $1K, or 1/2 to 1/3 of the $2-$3K cost for something like the iPhone 4 on two-year contract.

How are the above savings possible? Part of the answer is the wonderful U.K. mobile provider with the quirky name called giffgaff.

Still think the name 'giffgaff' is weird? It gets weirder: my mobile plan name is called the Hokey Cokey. Funny name alright, but this plan is anything but hokey: for only £5 a month (about $8) I get 60 UK anytime minutes, 300 UK texts, 100MB/day data, a free extra minute for every minute I get called, plus free giffgaff to giffgaff calls and texts on top of that.

Another nice feature that giffgaff offers is that I don't have to pay when I'm not in the U.K., and when I don't pay I don't lose my phone number. I'd be more excited about this if I was getting charged the $80 or so I pay in the U.S. for a comparable plan, but it's nice all the same.

$8 for all that? Yep. There must be a catch? Yes, but it's pretty minor.

First, the Hokey Cokey is a giffgaff 'labs' plan, meaning it's experimental and may not be around after June. Also, the 100MB/day data* (see comments for further discussion) portion of the plan is not normally a part of the Hokey Cokey, but is being offered to all giffgaff customers through at least the end of May June.

Bottom line: there is no guarantee that I'll have the same, exact plan come June. What then? If the Hokey Cokey goes bye-bye for jusst £10 a month (about $17) I can sign up to to next plan, which has 250 UK anytime minutes, unlimited UK texts, and unlimited mobile Internet (plus the same free giffgaff to giffgaff calls and texts as the Hokey plan).

So the plans and pricing sound incredible, but what about the network coverage? Giffgaff runs on O2's network, which is the second largest in the U.K. So far as I can tell I receive the same service quality and coverage as a regular O2 customer. In London, for example, call quality is excellent and I have no problems streaming music while on the move at the highest bitrate (320 kbps) offered by Spotify (which is another great thing the U.K. has going over the U.S., and perhaps the subject of a future review).

Film Review: Transcendent Man & Reflections on San Francisco Premiere

Ray Kurzweil in Transcendent Man

On Thursday evening I attended a showing of the film Transcendent Man at the San Francisco Palace of Fine Arts. The evening included a pre and post-film talk/Q&A with the film's star, Ray Kurzweil, and the director, Barry Ptolemy. Peter Diamandis of the X Prize Foundation was also on hand to moderate.

Here are my thoughts on the film:

• The film is well made and provides a very up-close and personal look at inventor, scientist and futurist Ray Kurzweil, including a tour to Ray's home, his 200 vitamins-a-day regimen, and a moving visit to his father's grave.
• In terms of the content level it aims for a more general audience, making the film accessible to non-science types. You'll see a few graphs but you won't find any math equations or overly technical jargon in the movie.
• The film provides an intimate look at some of Ray's and the Singularity's more interesting proponents and critics, such as Kevin Kelly (founder and 'Chief Maverick' of Wired) and Dr. William Hurlbut, Professor of Neuroscience at Stanford University (who was in attendance).
• If you're someone who is already familiar with Ray's exponential technology development forecasts and his ideas about the Singularity you might find some of the the content less fresh, even repetitive. However, if you're a fan the I think you will still really enjoy the film.
• One criticism I have of the film and Ray is that while there is ample mention of the many predictions Ray has been right about (e.g., predicting in the early 1980s that a computer would beat the best human chess player by the late 1990s), there was no mention of Ray's wrong predictions. Predicting the fall of the Soviet Union and other happenings is impressive, but it would be even more impressive if I knew more about Ray's overall track record.
• Another question I have is the potential bias Ray brings to his forecasting. It cannot be overlooked that Ray is projecting that radical life extension will arrive within his expected lifetime. How much does Ray's self-optimism factor into this timing forecast?

And some thoughts on the overall event and what it's like to meet Ray:

• The Palace of Fine Arts event (not surprisingly) attracted an eclectic, rather geeky crowd. In terms of demographics, largely caucasian with a wide age distribution.
• What was surprising was that unlike the previous showings in London, New York, LA, etc. the San Francisco event (the last in the tour) did not come close to selling-out. This is particularly surprising as the San Francisco Bay Area is arguably Ground Zero for the Singularity movement. Whether this was due to the fact that there was a previous San Jose showing in February, or that the film has been available on iTunes for awhile now, is unclear. Back-to-back showings in LA both sold out.
• A couple interesting points made during the Q&A: 
• Ray stated that there is a mistaken perception that technological progress is occurring much faster with hardware than software.
• The cost of solar power is quickly approaching the cost of fossil fuels.
• Ray stated that technology is a "doubled-edged sword" and does not dismiss potential dangers to the human race to advancements in technology.
• Ray says he reads all his email and tends to make decisions about big things (like Barry's movie proposal) quickly and agonize over small things, like where to eat lunch.
• Ray was very generous with his time throughout the evening. There was a pre-movie meet and greet where I was able to speak with Ray in person. I confessed to Ray that I haven't been as disciplined in following the diet advice in his excellent health book, Fantastic Voyage, as I would like. 
• Ray is one of the most even-keeled people I've ever met. He is also is very diplomatic and kind with his responses during the Q&A.

Overall, I highly recommend seeing Transcendent Man. The film is currently available for viewing on iTunes, online here, or you can purchase the DVD through the 'Good Books and Films' section on the right side of this blog. 

For more from me on life extension, the Singularity and Ray click here.

Review: TripIt, My New Favorite Time Saving Smartphone App (Video)

The key value add: being able to simply forward emails I receive from the airlines containing my flight details/confirmations to TripIt, and then TripIt does two things:

1. automatically and instantaneously syncs all that info to my Google calendar
2. stores it on my Nexus S TripIt app 

No more manually typing flight information into my calendar, and no more searching for emails to dig up a confirmation number.

And it does a couple other nifty things mentioned in the video below. Marvelous.

Review Roundup: Inside Job (The Movie)

Charles Ferguson's excellent documentary, Inside Job, the story of the people behind the recent financial crisis, is coming to the U.K.

If you have not already had the chance to see it I cannot recommend this film highly enough. It pulls off the not so easy feat of both clearly explaining the financial crisis in sufficient detail while managing to keep your attention throughout.

(Update: Inside Job is an Oscar nominee for Best Documentary. The below list will be updated regularly with additional reviews and please feel free to post links in the comments)

Here's a roundup of some of the film's reviews which I'll try and regularly update as more reviews come in:

Guardian
Felix Salmon
Naked Capitalism / Yves Smith

INET

New Yorker
The New Republic
LA Times
Rotten Tomatoes

And some additional reviews from Yahoo Movies:

Critics Reviews Average Grade:   A-
Source	Brief Review	Grade*
Boston Globe Wesley Morris	"The movie succeeds at upsetting you not by losing its cool, the way so many similar films do, but by slow-cooking its argument." more...	A
Chicago Sun-Times Roger Ebert	"...an angry, well-argued documentary about how the American financial industry set out deliberately to defraud the ordinary American investor." more...	A
Filmcritic.com Chris Cabin	"Like No End in Sight, the key to Inside Job's power is how clearly Ferguson maps out each step towards disaster..." more...	B
New York Times A. O. Scott	"...meticulous and infuriating..."more...	A-

Adios iPhone: On Making the Smartphone Switcheroo

The iPhone is unquestionably one of the biggest game changing consumer goods in recent memory. Netscape founder Marc Andreessen has characterized it as a "wormhole product", seemingly delivered unexpectedly to Earth straight from the heavens.

Just how revolutionary was the iPhone? At the time of its dramatic January 2007 introduction in San Francisco by Apple CEO Steve Jobs, Canada-based Research in Motion -- then the world's leading mobile device maker -- dismissed it, believing the iPhone as described by Jobs to be an "impossible" engineering feat.

I've been a very happy iPhone user ever since the original went on sale 3.5 years ago. Each successive iPhone iteration has delivered significant enhancements. And I've even stood in a relatively short iPhone purchase wait line (but a line nevertheless), anxious to upgrade as soon as the latest version became available. That was until the announcement of the underwhelming iPhone 4.

iPhone Alternatives

The failure of the iPhone 4 to impress, combined with the changing smartphone competitive landscape, led me to take a hard look at two emerging iPhone alternatives: Google's Android and Microsoft's Windows Phone.

Microsoft's smartphone efforts the past few years have been nothing short of a complete failure. But Redmond's new Windows Phone software shows real promise. I was particularly impressed with the creativity that went into the elegant and innovative new Windows Phone user interface, called Metro. It's intuitive and refreshing, and the whole scheme is particularly pleasing to the eye on one of Samsung's Super AMOLED screens.

With the new user interface and other encouraging signs across various Microsoft product lines (i.e.,  ZunePass, SkyDrive, Xbox Kinect), I have growing confidence that the Washington-based software behemoth is recovering its form. In short, Microsoft has a potential winner on its hands. However, at this point in time there are just too few apps available for Windows Phone. Further, many features widely available on the iPhone are missing (e.g., copy/paste, multitasking, etc.).

What about Android?

Smartphone Wars: Android vs. iPhone

Google and its hardware partners, such as Motorola, Samsung, and HTC, have made big strides in 2010.  The iPhone/Android app gap has largely closed, and Android's market share is about to (or already has) overtaken the iPhone.

In contrast with the two versions of the iPhone currently available for sale (iPhone 4 and 3GS), there are some 80+ different Android devices. This greater selection -- and the increased freedom of choice Android offers over the iPhone in general -- is considered to be both Android's greatest strength and biggest weakness.

Many find the array of Android choices somewhat dizzying, while others want features like a Blackberry style keyboard, or a removable battery, or a larger 4" screen for browsing the internet -- all things you can find on an Android device, but not on an iPhone.

Ladies and Gentlemen, We Have a Race!

Let's be clear up front: the idea that there is an "iPhone killer" lurking out there somewhere over a not so distant hill is a myth. The iPhone has established critical market share mass, and it will likely remain a solid smartphone for the foreseeable future. Barring a major snafu millions of iPhones will continue to ship.

While 'power' smartphone users have had some great Android options to choose from for awhile now, the more typical smartphone owner basically just wants their technology to be simple and work. I suspect many of these folks who are familiar with Android have probably heard that Google's software is simply not as polished (in terms of ease of use) as Apple's.

However, Google just came out with a new smartphone, the Nexus S; it has been thoroughly reviewed and the verdict is in: it's a winner.

The Nexus S is the "official Google smartphone". It is manufactured by the same South Korean tech powerhouse which provides many of the iPhone's core components (Samsung). In my opinion, it is perhaps the first true mainstream alternative to the iPhone. 

Not only does the Nexus S possess hardware which can compete head-to-head with Apple's flagship iPhone 4, but the latest Android software (called 'Gingerbread') is intuitive and easy enough for the average iPhone user to switch to without having to spend much time getting up to speed on a new system.

Google's Nexus S

Long story made short -- the Nexus S not only delivers, but it also delights. The total experience is not just comparable to the iPhone, but in many ways superior. This is particularly true if you use Google services such as Search, Maps, Gmail, and especially Google Voice (which I reviewed here).

The Myth of the One Size Fits All Smartphone

The Nexus S, like all smartphones, has shortcomings because, like the iPhone, it simply can't be all things to all people.

For example, the Nexus S is perhaps the ideal international smartphone for a bevy of reasons; however, if you're based in the U.S. and you need a 3G carrier other than T-Mobile (the Nexus S can't utilize AT&T's 3G network, just AT&T's 2G service) then this iteration of the Nexus S (new versions of the Nexus S may be launched on the other carriers) may not be right for you.

The Nexus S also can't take advantage of the even higher speed 3.5G / 4G data networks which are starting to roll out in the U.S. Last, some Android apps are not as fully fleshed out as they are on the iPhone. For example, the Android Bloomberg app doesn't allow you to reorder your news preferences like you can on the iPhone.

Change is Hard

Ignoring network considerations, my best guess is that the majority of users would find the Nexus S comparable to the iPhone 4 in terms of overall pluses and minuses, and superior to the 3GS. Equal, however, is hardly a good enough reason to switch, so I don't expect the Nexus S to generate blockbuster iPhone-like sales.

Many users are understandably reluctant to switch to a different smartphone platform, particularly those who have made a significant investment in iPhone apps and accessories. If you are in this camp then you may be better off sticking with your iPhone.

But if you're new to smartphones, or ready to make a switch, then you should definitely give Android phones like the Nexus S a serious look. And for those worried about having to learn a whole new smartphone I think you'll be pleasantly surprised with how familiar Android seems compared to the iPhone.

And for those making the switch to Android, here are some things you can look forward to: I believe 2011 could very well be shaping up to be the Year of Android. What do I mean by that? We already discussed Android's rapid market share growth. With that growth we should see what remains of the the app gap disappear in 2011. And Android's next operating system, called Honeycomb, is generating significant positive buzz and is set for a Q2 2011 launch -- just before Apple typically launches its latest iPhone. Other hardware advances, such as battery sipping dual-core processors, are slated for Q1 release in Android devices. Overall, it's clear that Google and its partners are innovating at a faster clip than Apple.

In the battle of the smartphones, it certainly feels like Google has captured the momentum. For a variety of reasons, Google may also have the medium-term upper hand over Apple.

How Much Does Your Phone Say About You?

There has been a lot made of what your phone, like your car, says about you.

One emerging area where your choice of smartphone may be saying something important about you is the price you are charged when shopping online.

Recently the growing use by online retailers of 'dynamic pricing' has come to light. Reports have emerged that Google Chrome users are offered lower prices than Firefox users (apparently Chrome users are considered to be more savvy online shoppers). It's somewhat unclear how widespread the practice of dynamic pricing has become.

Perhaps the takeaway here should be that regardless of whether you feel your phone choice reflects the deeper you, our minds are naturally drawn to outward symbols such as cars, clothes and now smartphones. Like it or not, your consumer choices do say something about you, and perhaps there's a good reason why.

The Politics of Technology

While the Nexus S is the smartphone that led me to abandon the iPhone, the question of "which smartphone?" actually carries larger implications for even non-geeks.

Google and Apple take markedly different approaches to technology. Whether one approach is "better" depends on your perspective, which end product or service we're talking about, and above all else generates heated debate. What is not up for debate, however, is which platform is more open to individual expression and choice -- values which the western democratic world has generally held in high regard.

Why the difference? Whether or not Google fully walks the "don't be evil" talk is open to question, in my opinion. However, when it comes to Apple's approach to technology I think Rich Karlgaard's assessment of Steve Jobs psyche pretty much nailed it.

Closing Thoughts

As discussed previously, the Nexus S and Gingerbread now offer a near iPhone like experience in terms of intuitiveness, simplicity and ease of use. I concur with those who claim the iPhone still has the overall edge in these categories. For now. The gap has closed (and in my opinion will continue to do so) to such a degree that it is no longer credible to claim that if you want a simple, trouble free, and premium smarthphone experience then your only choice is the iPhone.

The bottom line: while it's certainly not black and white, if you prefer Google's approach to technology over Apple's then it's now safe to make the switch away from the iPhone without much risk of regret.

Note: for more Nexus S reviews see also CNET's video review, or from the slightly-to-more progressively geeky writeups respectively by Wired, Engadget, and AnandTech.

Further note: if you read the often entertaining comments sections of the above reviews you'll find remarks from a number of existing Android smartphone owners stating how "disappointed" they are in the Nexus S, often because it's too 'evolutionary' rather than 'revolutionary'. As someone who is brand new to Android, I understand but don't share this point of view. The Nexus S has some bleeding edge tech (i.e., NFC chip, integrated SIP calling). However, the Nexus S is not solely targeted at early adopters. Rather Google has focussed on small details to refine the Android experience for broad consumer adoption.

Review: Google Voice and the iPhone

Google Voice (formerly called GrandCentral, purchased by Google in 2007) was release a little over a year ago. CNET and TechCrunch, among others, already did a nice job covering the relaunch of this service. The focus of this review is provide an updated overview of Google Voice 1+ year on and a personal account of how the service works with an iPhone.

What is Google Voice? 

The free service has a number of useful phone features. Perhaps the headliner is the ability to pick a new phone number (in whichever area code you prefer) that when called will simultaneously ring your other phone numbers (i.e., home, work, cell, etc.). People trying to reach you don't have to guess whether you're at work or on your cell and dial you multiple times.

(Now right away you might be saying that the switching cost of a new phone number makes Google Voice a non-starter. TechCrunch previously reported that number portability was coming to Google Voice by the end of 2009. And Mike Arrington somehow got his number ported to Google Voice. However, as of this writing porting is officially unavailable.)

To illustrate how Google Voice's main feature works here's how I currently use the service:

When someone calls my Google Voice number both my cell and home phone ring. This gives me the option to take a call on my home phone line when I'm home, thereby ensuring better call quality and reducing my cell phone minute useage. Or if I'm not at home my cell phone will ring allowing me to still take the call. It's that simple, and in my experience this feature works really well.

For the growing ranks who only have one phone number (their cell) Google Voice still has a couple other features that make it worth a look.

Google Voice and Chrome

I spend quite a bit of time on a computer, and Google Voice's fantastic integration with Google's Chrome browser has led me to make Chrome my default browser. Chrome allows click-to-call dialing for most (but not all) phone numbers on the web. Here's an example:

Say you're using Yelp to determine where you want to order takeout dinner. You're in the mood for a cheeseburger and fries, so you click on the phone number of Barney's Hamburgers. Google Voice goes about connecting you to Barney's without your ever having to dial the number. After clicking on Barney's number you're presented with a popup window asking which phone you'd like to use (i.e., home, cell, etc.). When you select which phone, Google Voice rings you at that phone. After you pick up Google Voice next connects you to Barney's. Presto. You're fingers never had to touch a dial pad. 

There are a couple small issues. One minor change I would like to see Google make here is to allow users to set a Chrome phone preference so you can skip the extra click step of selecting which phone Google Voice dials you at. I've also noticed a consistent delay between how quickly I can make consecutive Google Voice calls. If after making a Google Voice call from Chrome I immediately click to dial another number, the call won't connect. I need to allow usually about 1-2 full seconds before placing the second call. This is a minor annoyance and may be an issue specific to my phone service provider (Comcast) or my landline phone model (Panasonic KX-TG7431). And as noted earlier, occasionally I encounter a phone numbers on the web that I cannot click-to-dial, probably due to how the phone number is formatted. In that case I either copy and paste, or type the number into Google Voice web page to initiate the call.

Other Features

You can also use Google Voice to send free text messages, which I can also write more quickly and accurately from my computer keyboard. Unfortunately, incoming text messages to your Google Voice number are forwarded to your cell phone, which eats into your monthly text message allotment. So another change I'd like to see made is to allow you to have text messages sent to your email or Google Voice inbox instead.

Google Voice also transcribes your voicemails so that, in theory, you can read them as emails or text messages instead of listening to them. In theory because the accuracy of the transcription service leaves a lot to be desired. I've found this feature to be most useful for visually scanning to determine whether the vmail is a quick "Hi, call me back" type message, or a lengthier vmail that requires careful listening.

A few more of Google Voice's many other features include:

• Google Voice also allows you to keep a record of your vmails, like you would saved emails
• Call screening
• Do-not-disturb - one click to turn off the ringer for all your phones
• Switch phones mid-call (for times when you need to head out the door and transfer the call to your cell)
• Recording calls (useful for journalists)
• Listening in on vmails as they are being recorded
• Share voicemails (forward them like email)

Google Voice on the iPhone

On the whole, Google Voice offers some impressive phone features for no cost. But how does Google Voice work with the iPhone? First, some history.

Last July there was considerable controversy when Apple rejected the Google Voice app for the iPhone. As John Gruber pointed out at the time it was not entirely clear whether this was simply Apple doing AT&T's bidding, as both companies stood to benefit by blocking Google Voice from the iPhone. The FCC launched an inquiry into the matter, which remains ongoing. Later Apple and AT&T issued a joint statement that the decision to not approve Google Voice for the iPhone was 100% Apple's. To this day, however, the Google Voice app is still not available in the App Store.

After declaring that Google Voice was coming to the iPhone "one way or another", in January of this year Google released an HTML5 'web app' version of the service. Because it is accessible from the iPhone's web browser it cannot be blocked by the nebulous App Store vetting process.

Overall the web app version of Google Voice is useful, but has some significant drawbacks. You can place the Google Voice icon on your iPhone home screen so that it can be conveniently accessed just like any other iPhone app. It has a dial pad similar to the iPhone's built-in dial pad (Google Voice has an extra prompt to initiate the phone call). You can also play your voicemails, which uses your unlimited data plan instead of your anytime phone minutes.

However, I don't always use the Google Voice web app to make outbound calls or send texts. The reason is because it is a bit more cumbersome -- and definitely slower -- than using the iPhone's built-in address book and texting. This is because web apps by their very nature can be a little to A LOT slower than the iPhone's in house apps. The delay on WiFi is a minor nuisance, but when I'm on 3G or in particularly EDGE the wait is unbearable. With the iPhone, I'm more often than not calling someone from my Favorites list. To get to that list all I need to do is double click the iPhone's button and I'm there instantaneously. With Google Voice I first have to wait for the dial pad to refresh as there is no way to set the default home screen to be my address book or inbox. Next I need click on Contacts and wait for that page to refresh.

What is result of using both my cell and Google Voice numbers to communicate? In a word, confusion. After getting a Google Voice number I asked people to delete my cell number and only call or text my Google Voice number. But people are still using my cell number because they know I'm still reachable on it. And how do they know that? Because they periodically receive a call or text from my cell number because I can't stand waiting for the Google Voice web app to refresh.

I've heard that Android's integration of Google Voice is "seamless", and I'd like to give it a try. Does seamless Google Voice integration be reason enough to make the switch from an iPhone to an Android phone? That I'm not so sure about. A number of Android phones are getting great reviews, and it will be interesting to see how Apple's 4th generation iPhone compares to them.

In terms of the market opportunity, only 1.4 million people have a Google Voice account (of which 570,000 use it every day) according to an FCC filing from November 2009. Even with better iPhone integration I wouldn't expect dramatic Google Voice growth. Enabling porting numbers could help but until then the switching costs of a new phone number too high for many people. In addition, many of Google Voice's features are probably overkill, if not overwhelming, for many users.