A Quote by Dave McClure
I think 'Shark Tank' is targeting companies that are really trying to raise their very first dollar. A lot of them aren't really tech focused. We're definitely going after companies that are building real technology, either software or hardware, they probably have raised a couple hundred thousand already.
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Typical tech-driven companies or hardware-driven companies always lay out the so-called roadmaps when it comes to making the new hardware. So, in other words, availability of certain technologies dictates when the company is intending to make the new hardware.
I think Wall Street is very important, especially to tech companies. Wall Street will get in their rhythm and go fund tech companies, and tech companies will go create jobs and employ a lot of people, so there's that aspect of Wall Street.
There's been a lot companies that have shown "zero to one" kind of growth in the computer, internet software age. Facebook and Google are zero to one companies. Apple's iPhone was the first smartphone that really works, and of course, then you scale it horizontally, but the vertical component was really critical. Space X would also be one.
Music companies are not technology companies any more than technology companies are music companies. They're really different from each other.
If you look at the top 10 enterprise software companies, a lot of them are important but irrelevant companies. It's really important to be relevant and important.
I really think that technology has the greatest potential to accelerate happiness of most things in the world. The companies that will ultimately do well are the companies that chase happiness. If you find a way to help people find love, or health or friendship, the dollar will chase that.
Tech stocks were the cubic zirconium of the market. They looked good and were sexy, but they just were a way for the company selling them to make money. That's always going to be transient in terms of the stock market. What's real is that companies have to compete. Technology used well is a great tool to enable that if only because most companies dont use technologies well.
I think that there are a number of older-guard technology companies who either genuinely believe or are hoping people will believe that companies aren't going to move to the cloud that quickly or that a very large amount of workloads will remain on-premises forever. I don't believe that.
Companies like Spotify, the new Apple service, and all the others are really going to have to pay artists more. And I think it's a matter of time; I think a lot of these companies and the individuals that are involved in them realize that as well. They know that artists are not getting what they should be getting.
When we first started our internet company, 'China Pages', in 1995, and we were just making home pages for a lot of Chinese companies. We went to the big owners, the big companies, and they didn't want to do it. We go to state-owned companies, and they didn't want to do it. Only the small and medium companies really want to do it.
Baidu and Google are great companies, but there are a lot of things you can do outside them. Just as electricity and the Internet transformed the world, I think the rise of modern A.I. technology will create a lot of opportunities both for new startups and for incumbent companies to transform.
I definitely think what drives technology companies is the people; because in a technology company it's always about what are you going to do next.
One of the biggest problems of 'In Search of Excellence' is that it focused on giant, publicly-traded companies. There are thousands upon thousands of excellent companies. Some of them are two-person accountancies in a community of three thousand people.
'Shark Tank' has been a sincere joy. As our traditional venture-backed companies get bigger, the investing side tends to get more political and complicated. 'Shark Tank' takes me back to my early days working with ambitious founders in their earliest and scrappiest days. The show reminds me of what I deeply love about this business.
Chinese companies - telecommunications and technology companies - are some of the best internationally. Taobao, WeChat, Huawei - not only are they large companies, but they're also very technologically advanced.
We're pretty broad as investors. Our thesis is work with great entrepreneurs that believe they can change the world. But there are specific areas that we get excited about - areas like hard tech, deep tech, companies that deal with really difficult technology, etc.
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