Understanding Venture Capital

Title: Understanding Venture Capital
Date: 2011-11-16
Speaker: Dana Mead (KPCB)
Link: Entrepreneurial Thought Leaders
 
Venture capitalists love logos.
There are only 7,000 to 8,000 venture capitalists.
If you want to be a venture capitalist one of the things you want to do is network.
They invest in a very small percent.
You have to be very efficient about your time.
You want to show the passion, the idea, and the vision. That is contagious.The people are obviously the most important part of any business.
We have technical and clinical risk in life sciences.
Try to put boundaries around risk.
Focus on big ideas and moving things forward. If that happens then the exit will take care of itself.
Don’t be afraid to talk about the risks.
To be a great entrepreneur you can’t be rational.
Passion is what is going to make the company happen.
You want to show the passion, the idea, and the vision. That is contagious.
People rarely say no when you ask them for help.
Don’t focus on the exit.
You have to be persistent.
Get the best people you can possibly find.
Proximity of interface is extremely powerful.
Create your own innovation ecosystem.
Team with people with other backgrounds.
There are plenty of smart people that are positive and optimistic. Put those people around you.
The venture capitalist’s job is to mitigate risk.
Funds are ten years long.
A public servant is often limited on how he or she can interface with private industry.
The entrepreneur’s role is to pass on and transmit the excitement about what the company can become.
The healthcare consumer is a fickle consumer.