Funding Thunder Lizard Entrepreneurs

Title: Funding Thunder Lizard Entrepreneurs
Date: 2010-10-27
Speaker: Ann Miura-Ko (Floodgate Fund)
Link: Entrepreneurial Thought Leaders
 
Real innovation has a democratizing influence.
Our culture is shaped by the fact that a working class person can drive a car.
The power has switched (from the investor) to the entrepreneur.
The Internet has a proud impact on our history being written.
A startup is ultimately about whether or not you can create a business around the product.
The beauty of the Internet is that you can now have a direct dialogue with your customer.
You can now go directly to the person that is interested in buying your product (bypassing the executives). That has reduced the buying cycle.
It is not that you run out of cash as an entrepreneur, it is that you run out of iterations.
Cash is no longer king. Now the ideas are king.
The entrepreneur should be totally aligned with the investor and the investor should be aligned with the entrepreneur.
The best companies end up being extraordinarily capital efficient.
Lean is not small.
If you don’t know what you’re going to be doing with the money then you shouldn’t raise that much money.
If you raise less you’ll be diluted less.
At the seed stage of the company it is the business model that matters–not the business plan.
It is your job as an entrepreneur to collect as many facts as possible even before you get investing.
Don’t waste a meeting.
Be world class at whatever you do.