A Quote by Andrew Yang
I like most of the venture capitalists I know; they're smart, well-intended guys who genuinely enjoy helping entrepreneurs succeed. And I love venture capital and investment capital of all categories - its economic impact is proven. The more of it the better.
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There's almost too much venture capital in India - there are issues with seed capital, but for venture capital, there's a lot money chasing deals here.
Techstars has done a great job accelerating and providing venture capital to the most promising companies to make the biggest long-term economic impact.
You know, development sometimes is viewed as a project in which you give people things and nothing much happens, which is perfectly valid, but if you just focus on that, then you'd also have to say that venture capital is pretty stupid, too. Its hit rate is pathetic. But occasionally, you get successes, you fund a Google or something, and suddenly venture capital is vaunted as the most amazing field of all time. Our hit rate in development is better than theirs, but we should strive to make it better.
At a basic level venture capitalists are arbitrageurs: they have access to more information than those with the capital, and access to more capital than those with information, and they profit by exploiting the mismatch.
You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make multi-million dollar bets on unproven ideas and inexperienced founders. People who can make decisions quickly, and who spend their time trying to help entrepreneurs make the most of that cash.
Is the investment community critical to our economic success? Yes. Free markets, innovation, access to credit, venture capital, and strong labor rights - these have been the underpinnings of our economic vitality, from laying railways to broadband lines.
The venture capital world is completely stacked against minority entrepreneurs.
State funds, private equity, venture capital, and institutional lending all have their role in the lifecycle of a high tech startup, but angel capital is crucial for first-time entrepreneurs. Angel investors provide more than just cash; they bring years of expertise as both founders of businesses and as seasoned investors.
I often say Policy Planning is very analogous to a venture capital firm. A venture capital firm sees an interesting idea and puts money behind it; in Policy Planning, we look for promising ideas and then put contacts and relationships behind it.
There are lots of ways to make money in venture capital, and there are even more ways to be mediocre. The industry has too much money and too many smart people chasing too few great entrepreneurs.
I would have loved to invest in Salesforce when I was active in venture. I didn't know the founder, Marc Benioff, well enough, and he didn't really rely on venture capital, but I remember the first time I met him and got to talk about Salesforce when they were still private. I thought, 'Damn, that is going to be a huge company.'
Given my venture capital background, I know the tech sector well.
Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.
There is always a critical job to be done. There is a sales door to be opened, a credit line to be established, a new important employee to be found, or a business technique to be learned. The venture investor must always be on call to advise, to persuade, to dissuade, to encourage, but always to help build. Then venture capital becomes true creative capital - creating growth for the company and financial success for the investing organization
Most entrepreneurs think capital is the biggest problem they have - but it's not. You can have all the capital you want, but if the market fit and ability to adjust are not present, your startup will likely not succeed.
As a lot of the venture capital world seems to be shifting away from consumer, we want to make sure that consumer entrepreneurs know there's still money available.
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