SlideShare ist ein Scribd-Unternehmen logo
1 von 21
Downloaden Sie, um offline zu lesen
VC Evolution: Geeks Got Next.
  (aka “Software Eats Venture Capital”)




          @DaveMcClure @500Startups
   Public Policy Forum on Venture Capital & Innovation
                   Quebec City, Oct 2012
This Talk Is About…
                     (Pro Tip: Leave Now B4 This Gets Ugly)
•   500 Startups: Internet Seed Fund + Accelerator + Business School 2.0
•   Angel List: It Rocks. Use It.
•   Making Venture Capital Work Better (This is Easy)
     –   “MoneyBall 4 Startups”
     –   Startups #FAIL & VCs #SUCK.
     –   Early Stage Investing = Risk Reduction
     –   Your Diligence Is an Illusion
     –   Guild of Geeks / Mentor Network
•   Making Incubators Work Better (This is Hard)
     –   Takes A Village: Mentors, Founders, Investors
     –   Education & Community
     –   Outlier Competition & Success Behaviors
     –   Product, Market, Revenue
     –   Hacker, Hustler, Hipster
     –   Winners Win, Losers Lose, Tweeners Tween
•   Scaling VC
•   Going Intl
Dave McClure
                       Founding Partner & Sith Lord, 500 Startups




00’s & 10’s:
• Investor: Founders Fund, Facebook fbFund, 500 Startups
• Companies: Mint.com, SlideShare, Twilio, WildFire, SendGrid
• Marketing: PayPal, Simply Hired, Mint.com, O’Reilly

80’s & 90’s:
• Entrepreneur: Founder/CEO Aslan Computing (acq’d)
• Developer: Windows / SQL DB consultant (Intel, MSFT)
• Engineer: Johns Hopkins‘88, BS Eng / Applied Math
500 Startups
                 Mountain View, CA – Founded 2010
• Seed Fund & Startup Accelerator
   –   $50M under management
   –   18 people / 9 investing partners
   –   10,000 sq ft / Silicon Valley HQ
   –   SF, NY, MEX, BRZ, IND (+ more)
   –   700 Founders / 200 Mentors
   –   Focus: Design, Data, Distribution
• 400+ Portfolio Co’s / 20+ Countries
   –   Wildfire (acq GOOG, $350M)
   –   Twilio
   –   SendGrid
   –   TaskRabbit
   –   MakerBot
   –   Viki
   –   9GAG
Angel* List: It Rocks.
   (Use it, You Idiot)




       • Startups & Investors
       • Activity & Metrics
       • Platform & APIs

       •   *ps – not just for Angels, or USA
Making Venture Capital
 Work Better (Easy)
  “MoneyBall for Startups”
     (Lots of Little Bets,
  Double Down on Winners)
MoneyBall 4 Startups




                   http://slideshare.net/paulsingh/
moneyball-a-quantitative-approach-to-angel-investing-austin-tx-aug-2012


     1. Make Lots Of Little Bets
     2. Count Cards (Monitor Progress & Stats)
     3. Double Down on Winners
Startups #FAIL & VCs #SUCK.
                             But You Knew That Already
•   Play Blackjack, Not Roulette. (Count Cards. Make Lots of Little Bets.)
•   Don’t Be An Arrogant, Insufferable Prick.
•   Don’t Assume Your Diligence is 4 Shit.
•   Don’t Assume You. or They are Smart.
•   Build a Brand That Matters.
•   Increase Sample Size.
•   Don’t Make Big Bets Too Early.
•   Simplify Revenue Model. (as in: HAVE ONE, you idiot)
•   Bet on Hackers, Hustlers, Designers.
•   Create a Community.
•   Invest after they have a functional prototype.
•   Be early and contrarian, or late and right.
•   Use The Tools: Twitter, Facebook, Quora, Instagram, Pinterest, etc
•   Talk / Blog / Present about something u know about, care about.
•   Admit Your Faults Frequently.
•   Laugh a little bit. (at yourself, not others).
•   Don’t worry too much about legal structure.
•   Worry a SHIT TON about valuation. (because your exits will be SMALL)
Bet on Singles, Not HomeRuns.
   (Look for Ichiros, Not Barry Bonds)
Early-Stage Risk Reduction
•   Intro: Crazy, Liars or crooks? Fucking idiots?
•   Product: does it work? (crappy, not perfect)
•   Market: are people using it? (not their mom)
•   Revenue: will people pay for it? (just a few)
•   Growth: how will it/they scale?
•   Finance: what will it cost
    – Q1: cost to get a customer?
    – Q2: how & when do you make money?
Your [up-front] Diligence Is An Illusion
        (Real Diligence = Quick Check + 3-6 mo’s)
• You Might Be Able to Detect Idiots & Assholes.
• You Probably Can’t Figure Out Winners (Yet).
• Your Network is Better Than Your Homework.

• Trusted Referrals >> Diligence
• Functional Prototype >> Team.
• Customers/Revenue >> Market.

• You’ll Be Wrong 4x out of 5x. (If U Don’t Suck).
• In 6 Months, You’ll Know If They Don’t Suck.
• In 1-2 Years, You’ll Know If They’re Awesome.
TIRED: White Guys in Blue Shirts.
WIRED: Guild of Geeks. YC, 500.
Making Incubators
Work Better (Hard)
  Find, Fund [Lots of] Startups.
    Education & Community.
   Data, Design, Distribution.
  Access to Mentors + Investors
   Move Fast & Break Things.
It Takes A Village
•   Physical Space.
•   People = Tribe.
•   Mentors (Advise 1st, Invest 2nd)
•   Events, Foods, Awesome.
•   This is YOUR FAMILY. Make Them AWESOME.
•   This is also YOUR BRAND. So Don’t SUCK.
•   Make a Big Tent. (Collaborate, don’t Compete).
Education & Community
•   Mentors, Investors
•   Design, Data, Distribution
•   Platform Partners
•   Sponsors & Strategics
•   Marketing & Visibility
Outlier Competition +
        Modeling Success Behaviors
•   You want min 3-5 “rockstars” to compete
•   Rockstars to model success for others
•   You can’t assume >20% rockstars
•   Therefore, pick 5x5 = 25 teams
•   3-5 rockstar teams emerge, compete, win
•   5-10 *other* non-rockstars learn
•   Prune losers quickly
Product, Market, Revenue
• Product: assess functional use, improve design/UX
• Market: test usage, distribution channels
• Revenue: test cust acq cost, revenue, *timing*

• Work on Pitch, Help Find Co-Investors, etc
Hacker, Hustler, Hipster
• Hacker: engineers & developers
• Hipster: design & UX
• Hustler: marketing & business

1. Build functional prototypes
2. Improve UX so people convert
3. Scale customer acq & distribution
Winners, Losers, Tweeners
• Winners #WIN (with or without you)
• Losers #LOSE (with or without you)
• Tweeners #TWEEN
  – They might win with your help
  – They might lose with your help
  – Be helpful, but don’t dally

  – Note: you might be wrong about the losers &
    tweeners, so don’t be an arrogant a-hole.
Scaling VC
• VC is an immature & fragmented market
• It’s Ripe for Disruption
• It Hasn’t Scaled (Yet)
Going International
• Brazil, Mexico, India
• China, SE Asia, Japan, Korea
• Russia, Turkey, Middle East

Weitere ähnliche Inhalte

Was ist angesagt?

Startup & VC Tech Trends
Startup & VC Tech Trends Startup & VC Tech Trends
Startup & VC Tech Trends Dave McClure
 
Building Startup Ecosystems (Singapore, July 2014)
Building Startup Ecosystems (Singapore, July 2014)Building Startup Ecosystems (Singapore, July 2014)
Building Startup Ecosystems (Singapore, July 2014)Dave McClure
 
Building Startup Ecosystems (Istanbul, Sept 2014)
Building Startup Ecosystems (Istanbul, Sept 2014)Building Startup Ecosystems (Istanbul, Sept 2014)
Building Startup Ecosystems (Istanbul, Sept 2014)Dave McClure
 
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)Dave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)Dave McClure
 
Building Startup Ecosytems & Investing in Tech Startups
Building Startup Ecosytems & Investing in Tech StartupsBuilding Startup Ecosytems & Investing in Tech Startups
Building Startup Ecosytems & Investing in Tech StartupsDave McClure
 
10 Challenges for Emerging Market Startup Ecosystems
10 Challenges for Emerging Market Startup Ecosystems10 Challenges for Emerging Market Startup Ecosystems
10 Challenges for Emerging Market Startup EcosystemsDave McClure
 
10 Challenges for Emerging Market Startup Ecosystems (Cairo)
10 Challenges for Emerging Market Startup Ecosystems (Cairo)10 Challenges for Emerging Market Startup Ecosystems (Cairo)
10 Challenges for Emerging Market Startup Ecosystems (Cairo)Dave McClure
 
Hack Osaka: Innovation Strategies for Regional Startup Ecosystems
Hack Osaka: Innovation Strategies for Regional Startup EcosystemsHack Osaka: Innovation Strategies for Regional Startup Ecosystems
Hack Osaka: Innovation Strategies for Regional Startup EcosystemsDave McClure
 
Building Startup Ecosystems (Baku, Nov 2014)
Building Startup Ecosystems (Baku, Nov 2014)Building Startup Ecosystems (Baku, Nov 2014)
Building Startup Ecosystems (Baku, Nov 2014)Dave McClure
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Dave McClure
 
Building Startup Ecosystems (Seoul, Oct 2014)
Building Startup Ecosystems (Seoul, Oct 2014)Building Startup Ecosystems (Seoul, Oct 2014)
Building Startup Ecosystems (Seoul, Oct 2014)Dave McClure
 
Startups Gone Global!
Startups Gone Global!Startups Gone Global!
Startups Gone Global!Dave McClure
 
Angel Investing & Incubators: Lessons Learned
Angel Investing & Incubators: Lessons Learned Angel Investing & Incubators: Lessons Learned
Angel Investing & Incubators: Lessons Learned Dave McClure
 
Building 500 Startups: #500STRONG
Building 500 Startups: #500STRONGBuilding 500 Startups: #500STRONG
Building 500 Startups: #500STRONGDave McClure
 
Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment
 Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment
Bringing Silicon Valley to LatAm: Startup Ecosystems & InvestmentDave McClure
 
How 2 Pitch a VC (New Delhi, Dec 2011)
How 2 Pitch a VC (New Delhi, Dec 2011)How 2 Pitch a VC (New Delhi, Dec 2011)
How 2 Pitch a VC (New Delhi, Dec 2011)Dave McClure
 
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)Dave McClure
 
Changes in Tech & Venture Capital (Istanbul, Nov 2013)
Changes in Tech & Venture Capital (Istanbul, Nov 2013)Changes in Tech & Venture Capital (Istanbul, Nov 2013)
Changes in Tech & Venture Capital (Istanbul, Nov 2013)Dave McClure
 
Everything Sucks And Nobody Cares
Everything Sucks And Nobody CaresEverything Sucks And Nobody Cares
Everything Sucks And Nobody CaresDave McClure
 

Was ist angesagt? (20)

Startup & VC Tech Trends
Startup & VC Tech Trends Startup & VC Tech Trends
Startup & VC Tech Trends
 
Building Startup Ecosystems (Singapore, July 2014)
Building Startup Ecosystems (Singapore, July 2014)Building Startup Ecosystems (Singapore, July 2014)
Building Startup Ecosystems (Singapore, July 2014)
 
Building Startup Ecosystems (Istanbul, Sept 2014)
Building Startup Ecosystems (Istanbul, Sept 2014)Building Startup Ecosystems (Istanbul, Sept 2014)
Building Startup Ecosystems (Istanbul, Sept 2014)
 
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)
Silicon Valley 2.0: Lots of Little Bets (Hong Kong, May 2013)
 
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)
 
Building Startup Ecosytems & Investing in Tech Startups
Building Startup Ecosytems & Investing in Tech StartupsBuilding Startup Ecosytems & Investing in Tech Startups
Building Startup Ecosytems & Investing in Tech Startups
 
10 Challenges for Emerging Market Startup Ecosystems
10 Challenges for Emerging Market Startup Ecosystems10 Challenges for Emerging Market Startup Ecosystems
10 Challenges for Emerging Market Startup Ecosystems
 
10 Challenges for Emerging Market Startup Ecosystems (Cairo)
10 Challenges for Emerging Market Startup Ecosystems (Cairo)10 Challenges for Emerging Market Startup Ecosystems (Cairo)
10 Challenges for Emerging Market Startup Ecosystems (Cairo)
 
Hack Osaka: Innovation Strategies for Regional Startup Ecosystems
Hack Osaka: Innovation Strategies for Regional Startup EcosystemsHack Osaka: Innovation Strategies for Regional Startup Ecosystems
Hack Osaka: Innovation Strategies for Regional Startup Ecosystems
 
Building Startup Ecosystems (Baku, Nov 2014)
Building Startup Ecosystems (Baku, Nov 2014)Building Startup Ecosystems (Baku, Nov 2014)
Building Startup Ecosystems (Baku, Nov 2014)
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
 
Building Startup Ecosystems (Seoul, Oct 2014)
Building Startup Ecosystems (Seoul, Oct 2014)Building Startup Ecosystems (Seoul, Oct 2014)
Building Startup Ecosystems (Seoul, Oct 2014)
 
Startups Gone Global!
Startups Gone Global!Startups Gone Global!
Startups Gone Global!
 
Angel Investing & Incubators: Lessons Learned
Angel Investing & Incubators: Lessons Learned Angel Investing & Incubators: Lessons Learned
Angel Investing & Incubators: Lessons Learned
 
Building 500 Startups: #500STRONG
Building 500 Startups: #500STRONGBuilding 500 Startups: #500STRONG
Building 500 Startups: #500STRONG
 
Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment
 Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment
Bringing Silicon Valley to LatAm: Startup Ecosystems & Investment
 
How 2 Pitch a VC (New Delhi, Dec 2011)
How 2 Pitch a VC (New Delhi, Dec 2011)How 2 Pitch a VC (New Delhi, Dec 2011)
How 2 Pitch a VC (New Delhi, Dec 2011)
 
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)
The Lean Investor: Lots of Little Bets (Melbourne, Dec 2014)
 
Changes in Tech & Venture Capital (Istanbul, Nov 2013)
Changes in Tech & Venture Capital (Istanbul, Nov 2013)Changes in Tech & Venture Capital (Istanbul, Nov 2013)
Changes in Tech & Venture Capital (Istanbul, Nov 2013)
 
Everything Sucks And Nobody Cares
Everything Sucks And Nobody CaresEverything Sucks And Nobody Cares
Everything Sucks And Nobody Cares
 

Ähnlich wie VC Evolution: Software Eats Private Equity

Startup Organizer Summit (Rio, 2013)
Startup Organizer Summit (Rio, 2013)Startup Organizer Summit (Rio, 2013)
Startup Organizer Summit (Rio, 2013)Dave McClure
 
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...Dave McClure
 
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...500 Startups
 
Silicon Valley 2.0: Lots of Little Bets
Silicon Valley 2.0: Lots of Little BetsSilicon Valley 2.0: Lots of Little Bets
Silicon Valley 2.0: Lots of Little BetsDave McClure
 
Silicon Valley 2.0: Make Lots of Little Bets.
Silicon Valley 2.0: Make Lots of Little Bets.Silicon Valley 2.0: Make Lots of Little Bets.
Silicon Valley 2.0: Make Lots of Little Bets.Dave McClure
 
From 500 Startups to 500 VCs
From 500 Startups to 500 VCsFrom 500 Startups to 500 VCs
From 500 Startups to 500 VCsDave McClure
 
The Lean Investor (Dallas, Nov 2014)
The Lean Investor (Dallas, Nov 2014)The Lean Investor (Dallas, Nov 2014)
The Lean Investor (Dallas, Nov 2014)Dave McClure
 
Building #500STRONG
Building #500STRONGBuilding #500STRONG
Building #500STRONGDave McClure
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Dave McClure
 
Investing in Tech Startups + Corporate Innovation (with SVB)
Investing in Tech Startups + Corporate Innovation (with SVB)Investing in Tech Startups + Corporate Innovation (with SVB)
Investing in Tech Startups + Corporate Innovation (with SVB)Dave McClure
 
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)Dave McClure
 
Changes in Venture Capital (Pioneers, Vienna)
Changes in Venture Capital (Pioneers, Vienna)Changes in Venture Capital (Pioneers, Vienna)
Changes in Venture Capital (Pioneers, Vienna)Dave McClure
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Dave McClure
 
Building 500 Startups + Changes in VC
Building 500 Startups + Changes in VCBuilding 500 Startups + Changes in VC
Building 500 Startups + Changes in VCDave McClure
 
How to pitch a VC (from Dave McClure)
How to pitch a VC (from Dave McClure)How to pitch a VC (from Dave McClure)
How to pitch a VC (from Dave McClure)Willy Braun
 
Investment Thesis Fundamentals (April 2016)
Investment Thesis Fundamentals (April 2016)Investment Thesis Fundamentals (April 2016)
Investment Thesis Fundamentals (April 2016)Dave McClure
 
Startup Metrics for Pirates (KAUST, Nov 2013)
Startup Metrics for Pirates (KAUST, Nov 2013)Startup Metrics for Pirates (KAUST, Nov 2013)
Startup Metrics for Pirates (KAUST, Nov 2013)Dave McClure
 
Lean, Little Cockroach Startup
Lean, Little Cockroach StartupLean, Little Cockroach Startup
Lean, Little Cockroach StartupDave McClure
 
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)Changes in Venture Capital & Startup Ecosystem (#H2Osummit)
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)Dave McClure
 

Ähnlich wie VC Evolution: Software Eats Private Equity (20)

Incubator 2.0
Incubator 2.0Incubator 2.0
Incubator 2.0
 
Startup Organizer Summit (Rio, 2013)
Startup Organizer Summit (Rio, 2013)Startup Organizer Summit (Rio, 2013)
Startup Organizer Summit (Rio, 2013)
 
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...
Investing in Tech Startups & Building Startup Ecosystems (PreMoney Miami, Mar...
 
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...
[PREMONEY MIAMI] 500 Startups >> Dave McClure, "4 Years of Moneyball & 950+ S...
 
Silicon Valley 2.0: Lots of Little Bets
Silicon Valley 2.0: Lots of Little BetsSilicon Valley 2.0: Lots of Little Bets
Silicon Valley 2.0: Lots of Little Bets
 
Silicon Valley 2.0: Make Lots of Little Bets.
Silicon Valley 2.0: Make Lots of Little Bets.Silicon Valley 2.0: Make Lots of Little Bets.
Silicon Valley 2.0: Make Lots of Little Bets.
 
From 500 Startups to 500 VCs
From 500 Startups to 500 VCsFrom 500 Startups to 500 VCs
From 500 Startups to 500 VCs
 
The Lean Investor (Dallas, Nov 2014)
The Lean Investor (Dallas, Nov 2014)The Lean Investor (Dallas, Nov 2014)
The Lean Investor (Dallas, Nov 2014)
 
Building #500STRONG
Building #500STRONGBuilding #500STRONG
Building #500STRONG
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
 
Investing in Tech Startups + Corporate Innovation (with SVB)
Investing in Tech Startups + Corporate Innovation (with SVB)Investing in Tech Startups + Corporate Innovation (with SVB)
Investing in Tech Startups + Corporate Innovation (with SVB)
 
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)
 
Changes in Venture Capital (Pioneers, Vienna)
Changes in Venture Capital (Pioneers, Vienna)Changes in Venture Capital (Pioneers, Vienna)
Changes in Venture Capital (Pioneers, Vienna)
 
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
Build Your Own Valley: Engineering Startup & Investor Ecosystems in Emerging ...
 
Building 500 Startups + Changes in VC
Building 500 Startups + Changes in VCBuilding 500 Startups + Changes in VC
Building 500 Startups + Changes in VC
 
How to pitch a VC (from Dave McClure)
How to pitch a VC (from Dave McClure)How to pitch a VC (from Dave McClure)
How to pitch a VC (from Dave McClure)
 
Investment Thesis Fundamentals (April 2016)
Investment Thesis Fundamentals (April 2016)Investment Thesis Fundamentals (April 2016)
Investment Thesis Fundamentals (April 2016)
 
Startup Metrics for Pirates (KAUST, Nov 2013)
Startup Metrics for Pirates (KAUST, Nov 2013)Startup Metrics for Pirates (KAUST, Nov 2013)
Startup Metrics for Pirates (KAUST, Nov 2013)
 
Lean, Little Cockroach Startup
Lean, Little Cockroach StartupLean, Little Cockroach Startup
Lean, Little Cockroach Startup
 
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)Changes in Venture Capital & Startup Ecosystem (#H2Osummit)
Changes in Venture Capital & Startup Ecosystem (#H2Osummit)
 

Mehr von Dave McClure

How to VC: Creating a VC fund portfolio model
How to VC: Creating a VC fund portfolio modelHow to VC: Creating a VC fund portfolio model
How to VC: Creating a VC fund portfolio modelDave McClure
 
The Helpful VC (June 2019)
The Helpful VC (June 2019)The Helpful VC (June 2019)
The Helpful VC (June 2019)Dave McClure
 
Skip the J-Curve: An Intro to Venture Capital Secondary
Skip the J-Curve: An Intro to Venture Capital SecondarySkip the J-Curve: An Intro to Venture Capital Secondary
Skip the J-Curve: An Intro to Venture Capital SecondaryDave McClure
 
Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Dave McClure
 
Take a Walk on the Dark Side: Branding for Startups & Sith Lords
Take a Walk on the Dark Side: Branding for Startups & Sith LordsTake a Walk on the Dark Side: Branding for Startups & Sith Lords
Take a Walk on the Dark Side: Branding for Startups & Sith LordsDave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging Markets
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging MarketsFarming Unicorns: Building Startup & Investor Ecosystems for Emerging Markets
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging MarketsDave McClure
 
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #Gitex
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #GitexFarming Unicorns in Emerging Markets (Dubai, Oct 2016) #Gitex
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #GitexDave McClure
 
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)Dave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems
Farming Unicorns: Building Startup & Investor EcosystemsFarming Unicorns: Building Startup & Investor Ecosystems
Farming Unicorns: Building Startup & Investor EcosystemsDave McClure
 
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"Dave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)Dave McClure
 
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...Dave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)Dave McClure
 
500 Startups / Batch 16 Demo Day (Q1/2016 update)
500 Startups / Batch 16 Demo Day (Q1/2016 update)500 Startups / Batch 16 Demo Day (Q1/2016 update)
500 Startups / Batch 16 Demo Day (Q1/2016 update)Dave McClure
 
Startup Metrics for Pirates (FounderX, May 2016)
Startup Metrics for Pirates (FounderX, May 2016)Startup Metrics for Pirates (FounderX, May 2016)
Startup Metrics for Pirates (FounderX, May 2016)Dave McClure
 
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...Dave McClure
 
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...Dave McClure
 
Venture Capital 2.0 (Delhi, Feb 2016)
Venture Capital 2.0 (Delhi, Feb 2016)Venture Capital 2.0 (Delhi, Feb 2016)
Venture Capital 2.0 (Delhi, Feb 2016)Dave McClure
 
500 Startups #DemoDay #Batch15
500 Startups #DemoDay #Batch15500 Startups #DemoDay #Batch15
500 Startups #DemoDay #Batch15Dave McClure
 

Mehr von Dave McClure (20)

How to VC: Creating a VC fund portfolio model
How to VC: Creating a VC fund portfolio modelHow to VC: Creating a VC fund portfolio model
How to VC: Creating a VC fund portfolio model
 
The Helpful VC (June 2019)
The Helpful VC (June 2019)The Helpful VC (June 2019)
The Helpful VC (June 2019)
 
Skip the J-Curve: An Intro to Venture Capital Secondary
Skip the J-Curve: An Intro to Venture Capital SecondarySkip the J-Curve: An Intro to Venture Capital Secondary
Skip the J-Curve: An Intro to Venture Capital Secondary
 
Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona
 
The Helpful VC
The Helpful VC The Helpful VC
The Helpful VC
 
Take a Walk on the Dark Side: Branding for Startups & Sith Lords
Take a Walk on the Dark Side: Branding for Startups & Sith LordsTake a Walk on the Dark Side: Branding for Startups & Sith Lords
Take a Walk on the Dark Side: Branding for Startups & Sith Lords
 
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging Markets
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging MarketsFarming Unicorns: Building Startup & Investor Ecosystems for Emerging Markets
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging Markets
 
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #Gitex
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #GitexFarming Unicorns in Emerging Markets (Dubai, Oct 2016) #Gitex
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #Gitex
 
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)
The Unicorn Hedge: Why Are Corporations Buying Unicorns? (Madrid, Oct 2016)
 
Farming Unicorns: Building Startup & Investor Ecosystems
Farming Unicorns: Building Startup & Investor EcosystemsFarming Unicorns: Building Startup & Investor Ecosystems
Farming Unicorns: Building Startup & Investor Ecosystems
 
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"
 
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Stanford, June 2016)
 
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...
 
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)
 
500 Startups / Batch 16 Demo Day (Q1/2016 update)
500 Startups / Batch 16 Demo Day (Q1/2016 update)500 Startups / Batch 16 Demo Day (Q1/2016 update)
500 Startups / Batch 16 Demo Day (Q1/2016 update)
 
Startup Metrics for Pirates (FounderX, May 2016)
Startup Metrics for Pirates (FounderX, May 2016)Startup Metrics for Pirates (FounderX, May 2016)
Startup Metrics for Pirates (FounderX, May 2016)
 
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...
Farming Unicorns: Building Startup & Investor Ecosystems in Emerging Markets ...
 
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...
How to Win Friends, Influence People, and Get a Better Valuation with Emoji, ...
 
Venture Capital 2.0 (Delhi, Feb 2016)
Venture Capital 2.0 (Delhi, Feb 2016)Venture Capital 2.0 (Delhi, Feb 2016)
Venture Capital 2.0 (Delhi, Feb 2016)
 
500 Startups #DemoDay #Batch15
500 Startups #DemoDay #Batch15500 Startups #DemoDay #Batch15
500 Startups #DemoDay #Batch15
 

Kürzlich hochgeladen

AI You Can Trust - Ensuring Success with Data Integrity Webinar
AI You Can Trust - Ensuring Success with Data Integrity WebinarAI You Can Trust - Ensuring Success with Data Integrity Webinar
AI You Can Trust - Ensuring Success with Data Integrity WebinarPrecisely
 
UiPath Studio Web workshop series - Day 6
UiPath Studio Web workshop series - Day 6UiPath Studio Web workshop series - Day 6
UiPath Studio Web workshop series - Day 6DianaGray10
 
Comparing Sidecar-less Service Mesh from Cilium and Istio
Comparing Sidecar-less Service Mesh from Cilium and IstioComparing Sidecar-less Service Mesh from Cilium and Istio
Comparing Sidecar-less Service Mesh from Cilium and IstioChristian Posta
 
Bird eye's view on Camunda open source ecosystem
Bird eye's view on Camunda open source ecosystemBird eye's view on Camunda open source ecosystem
Bird eye's view on Camunda open source ecosystemAsko Soukka
 
Secure your environment with UiPath and CyberArk technologies - Session 1
Secure your environment with UiPath and CyberArk technologies - Session 1Secure your environment with UiPath and CyberArk technologies - Session 1
Secure your environment with UiPath and CyberArk technologies - Session 1DianaGray10
 
UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8DianaGray10
 
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...Will Schroeder
 
Crea il tuo assistente AI con lo Stregatto (open source python framework)
Crea il tuo assistente AI con lo Stregatto (open source python framework)Crea il tuo assistente AI con lo Stregatto (open source python framework)
Crea il tuo assistente AI con lo Stregatto (open source python framework)Commit University
 
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostKubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostMatt Ray
 
Linked Data in Production: Moving Beyond Ontologies
Linked Data in Production: Moving Beyond OntologiesLinked Data in Production: Moving Beyond Ontologies
Linked Data in Production: Moving Beyond OntologiesDavid Newbury
 
Building AI-Driven Apps Using Semantic Kernel.pptx
Building AI-Driven Apps Using Semantic Kernel.pptxBuilding AI-Driven Apps Using Semantic Kernel.pptx
Building AI-Driven Apps Using Semantic Kernel.pptxUdaiappa Ramachandran
 
Computer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsComputer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsSeth Reyes
 
AI Fame Rush Review – Virtual Influencer Creation In Just Minutes
AI Fame Rush Review – Virtual Influencer Creation In Just MinutesAI Fame Rush Review – Virtual Influencer Creation In Just Minutes
AI Fame Rush Review – Virtual Influencer Creation In Just MinutesMd Hossain Ali
 
Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024D Cloud Solutions
 
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationUsing IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationIES VE
 
9 Steps For Building Winning Founding Team
9 Steps For Building Winning Founding Team9 Steps For Building Winning Founding Team
9 Steps For Building Winning Founding TeamAdam Moalla
 
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdf
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdfIaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdf
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdfDaniel Santiago Silva Capera
 
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDE
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDEADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDE
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDELiveplex
 

Kürzlich hochgeladen (20)

AI You Can Trust - Ensuring Success with Data Integrity Webinar
AI You Can Trust - Ensuring Success with Data Integrity WebinarAI You Can Trust - Ensuring Success with Data Integrity Webinar
AI You Can Trust - Ensuring Success with Data Integrity Webinar
 
20230104 - machine vision
20230104 - machine vision20230104 - machine vision
20230104 - machine vision
 
UiPath Studio Web workshop series - Day 6
UiPath Studio Web workshop series - Day 6UiPath Studio Web workshop series - Day 6
UiPath Studio Web workshop series - Day 6
 
Comparing Sidecar-less Service Mesh from Cilium and Istio
Comparing Sidecar-less Service Mesh from Cilium and IstioComparing Sidecar-less Service Mesh from Cilium and Istio
Comparing Sidecar-less Service Mesh from Cilium and Istio
 
20150722 - AGV
20150722 - AGV20150722 - AGV
20150722 - AGV
 
Bird eye's view on Camunda open source ecosystem
Bird eye's view on Camunda open source ecosystemBird eye's view on Camunda open source ecosystem
Bird eye's view on Camunda open source ecosystem
 
Secure your environment with UiPath and CyberArk technologies - Session 1
Secure your environment with UiPath and CyberArk technologies - Session 1Secure your environment with UiPath and CyberArk technologies - Session 1
Secure your environment with UiPath and CyberArk technologies - Session 1
 
UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8
 
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...
Apres-Cyber - The Data Dilemma: Bridging Offensive Operations and Machine Lea...
 
Crea il tuo assistente AI con lo Stregatto (open source python framework)
Crea il tuo assistente AI con lo Stregatto (open source python framework)Crea il tuo assistente AI con lo Stregatto (open source python framework)
Crea il tuo assistente AI con lo Stregatto (open source python framework)
 
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostKubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
 
Linked Data in Production: Moving Beyond Ontologies
Linked Data in Production: Moving Beyond OntologiesLinked Data in Production: Moving Beyond Ontologies
Linked Data in Production: Moving Beyond Ontologies
 
Building AI-Driven Apps Using Semantic Kernel.pptx
Building AI-Driven Apps Using Semantic Kernel.pptxBuilding AI-Driven Apps Using Semantic Kernel.pptx
Building AI-Driven Apps Using Semantic Kernel.pptx
 
Computer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsComputer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and Hazards
 
AI Fame Rush Review – Virtual Influencer Creation In Just Minutes
AI Fame Rush Review – Virtual Influencer Creation In Just MinutesAI Fame Rush Review – Virtual Influencer Creation In Just Minutes
AI Fame Rush Review – Virtual Influencer Creation In Just Minutes
 
Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024
 
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationUsing IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
 
9 Steps For Building Winning Founding Team
9 Steps For Building Winning Founding Team9 Steps For Building Winning Founding Team
9 Steps For Building Winning Founding Team
 
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdf
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdfIaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdf
IaC & GitOps in a Nutshell - a FridayInANuthshell Episode.pdf
 
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDE
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDEADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDE
ADOPTING WEB 3 FOR YOUR BUSINESS: A STEP-BY-STEP GUIDE
 

VC Evolution: Software Eats Private Equity

  • 1. VC Evolution: Geeks Got Next. (aka “Software Eats Venture Capital”) @DaveMcClure @500Startups Public Policy Forum on Venture Capital & Innovation Quebec City, Oct 2012
  • 2. This Talk Is About… (Pro Tip: Leave Now B4 This Gets Ugly) • 500 Startups: Internet Seed Fund + Accelerator + Business School 2.0 • Angel List: It Rocks. Use It. • Making Venture Capital Work Better (This is Easy) – “MoneyBall 4 Startups” – Startups #FAIL & VCs #SUCK. – Early Stage Investing = Risk Reduction – Your Diligence Is an Illusion – Guild of Geeks / Mentor Network • Making Incubators Work Better (This is Hard) – Takes A Village: Mentors, Founders, Investors – Education & Community – Outlier Competition & Success Behaviors – Product, Market, Revenue – Hacker, Hustler, Hipster – Winners Win, Losers Lose, Tweeners Tween • Scaling VC • Going Intl
  • 3. Dave McClure Founding Partner & Sith Lord, 500 Startups 00’s & 10’s: • Investor: Founders Fund, Facebook fbFund, 500 Startups • Companies: Mint.com, SlideShare, Twilio, WildFire, SendGrid • Marketing: PayPal, Simply Hired, Mint.com, O’Reilly 80’s & 90’s: • Entrepreneur: Founder/CEO Aslan Computing (acq’d) • Developer: Windows / SQL DB consultant (Intel, MSFT) • Engineer: Johns Hopkins‘88, BS Eng / Applied Math
  • 4. 500 Startups Mountain View, CA – Founded 2010 • Seed Fund & Startup Accelerator – $50M under management – 18 people / 9 investing partners – 10,000 sq ft / Silicon Valley HQ – SF, NY, MEX, BRZ, IND (+ more) – 700 Founders / 200 Mentors – Focus: Design, Data, Distribution • 400+ Portfolio Co’s / 20+ Countries – Wildfire (acq GOOG, $350M) – Twilio – SendGrid – TaskRabbit – MakerBot – Viki – 9GAG
  • 5. Angel* List: It Rocks. (Use it, You Idiot) • Startups & Investors • Activity & Metrics • Platform & APIs • *ps – not just for Angels, or USA
  • 6. Making Venture Capital Work Better (Easy) “MoneyBall for Startups” (Lots of Little Bets, Double Down on Winners)
  • 7. MoneyBall 4 Startups http://slideshare.net/paulsingh/ moneyball-a-quantitative-approach-to-angel-investing-austin-tx-aug-2012 1. Make Lots Of Little Bets 2. Count Cards (Monitor Progress & Stats) 3. Double Down on Winners
  • 8. Startups #FAIL & VCs #SUCK. But You Knew That Already • Play Blackjack, Not Roulette. (Count Cards. Make Lots of Little Bets.) • Don’t Be An Arrogant, Insufferable Prick. • Don’t Assume Your Diligence is 4 Shit. • Don’t Assume You. or They are Smart. • Build a Brand That Matters. • Increase Sample Size. • Don’t Make Big Bets Too Early. • Simplify Revenue Model. (as in: HAVE ONE, you idiot) • Bet on Hackers, Hustlers, Designers. • Create a Community. • Invest after they have a functional prototype. • Be early and contrarian, or late and right. • Use The Tools: Twitter, Facebook, Quora, Instagram, Pinterest, etc • Talk / Blog / Present about something u know about, care about. • Admit Your Faults Frequently. • Laugh a little bit. (at yourself, not others). • Don’t worry too much about legal structure. • Worry a SHIT TON about valuation. (because your exits will be SMALL)
  • 9. Bet on Singles, Not HomeRuns. (Look for Ichiros, Not Barry Bonds)
  • 10. Early-Stage Risk Reduction • Intro: Crazy, Liars or crooks? Fucking idiots? • Product: does it work? (crappy, not perfect) • Market: are people using it? (not their mom) • Revenue: will people pay for it? (just a few) • Growth: how will it/they scale? • Finance: what will it cost – Q1: cost to get a customer? – Q2: how & when do you make money?
  • 11. Your [up-front] Diligence Is An Illusion (Real Diligence = Quick Check + 3-6 mo’s) • You Might Be Able to Detect Idiots & Assholes. • You Probably Can’t Figure Out Winners (Yet). • Your Network is Better Than Your Homework. • Trusted Referrals >> Diligence • Functional Prototype >> Team. • Customers/Revenue >> Market. • You’ll Be Wrong 4x out of 5x. (If U Don’t Suck). • In 6 Months, You’ll Know If They Don’t Suck. • In 1-2 Years, You’ll Know If They’re Awesome.
  • 12. TIRED: White Guys in Blue Shirts. WIRED: Guild of Geeks. YC, 500.
  • 13. Making Incubators Work Better (Hard) Find, Fund [Lots of] Startups. Education & Community. Data, Design, Distribution. Access to Mentors + Investors Move Fast & Break Things.
  • 14. It Takes A Village • Physical Space. • People = Tribe. • Mentors (Advise 1st, Invest 2nd) • Events, Foods, Awesome. • This is YOUR FAMILY. Make Them AWESOME. • This is also YOUR BRAND. So Don’t SUCK. • Make a Big Tent. (Collaborate, don’t Compete).
  • 15. Education & Community • Mentors, Investors • Design, Data, Distribution • Platform Partners • Sponsors & Strategics • Marketing & Visibility
  • 16. Outlier Competition + Modeling Success Behaviors • You want min 3-5 “rockstars” to compete • Rockstars to model success for others • You can’t assume >20% rockstars • Therefore, pick 5x5 = 25 teams • 3-5 rockstar teams emerge, compete, win • 5-10 *other* non-rockstars learn • Prune losers quickly
  • 17. Product, Market, Revenue • Product: assess functional use, improve design/UX • Market: test usage, distribution channels • Revenue: test cust acq cost, revenue, *timing* • Work on Pitch, Help Find Co-Investors, etc
  • 18. Hacker, Hustler, Hipster • Hacker: engineers & developers • Hipster: design & UX • Hustler: marketing & business 1. Build functional prototypes 2. Improve UX so people convert 3. Scale customer acq & distribution
  • 19. Winners, Losers, Tweeners • Winners #WIN (with or without you) • Losers #LOSE (with or without you) • Tweeners #TWEEN – They might win with your help – They might lose with your help – Be helpful, but don’t dally – Note: you might be wrong about the losers & tweeners, so don’t be an arrogant a-hole.
  • 20. Scaling VC • VC is an immature & fragmented market • It’s Ripe for Disruption • It Hasn’t Scaled (Yet)
  • 21. Going International • Brazil, Mexico, India • China, SE Asia, Japan, Korea • Russia, Turkey, Middle East