A Quote by Julie Wainwright
Investors do not like losing money. They do not like companies that fail. They do not like entrepreneurs that fail. There is not a culture of celebrating failure in Silicon Valley or anyplace else. That is a myth. Recognize this, and if you start another business, get it to a successful point before approaching outside investors again.
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Outsiders think of Silicon Valley as a success story, but in truth, it is a graveyard. Failure.. is Silicon Valley's greatest strength. Every failed product or enterprise is a lesson stored in the collective memory of the country. We not only don't stigmatize failure, sometime we even admire it. Venture Capitalists actually like to see a little failure in the resumes of entrepreneurs.
In Silicon Valley, I point out that many of the more successful entrepreneurs seem to be suffering from a mild form of Asperger's where it's like you're missing the imitation, socialization gene.
It's almost a cliche that great Silicon Valley entrepreneurs don't go sit on a beach when they make a lot of money; they get back to work building another company or at least investing in other people's companies.
Some investors may grumble about entrepreneurs wanting 'unicorn valuations.' But let's be honest: most investors want them, too, and are supporting the massive capitalization of these companies.
It was unfair that people could pretend to be one thing when they were really something else. That they would get you on their side and then do nothing but fail, and fail, and fail again. People should come with warnings, like cigarette packs: involvement would kill you over time.
There are no bad business and investment opportunities, but there are bad entrepreneurs and investors. To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. The size of your success is measured by the strength of your desire, the size of your dream and how you handle disappointment along the way.
If you think about companies that were built in Silicon Valley, a lot of them early on were chip companies. And now the companies that are there, like Apple, are much more successful than any of the chip companies were.
If you try to be anyone but yourself, you will fail; if you are not true to your own heart, you will fail. Then again, there's no success like failure
There aren't many sources of money in San Diego, apart from local partnerships and local investors. It's pretty starkly polarized to Silicon Valley.
Perhaps more to the point for TBTF (Too Big To Fail bank), if a SIFI (Systemically Important Financial Institution) does fail I have little doubt that private investors will in fact bear the losses-even if this leads to an outcome that is messier and more costly to society than we would ideally like. Dodd-Frank is very clear in saying that the Federal Reserve and other regulators cannot use their emergency authorities to bail out an individual failing institution
Commercial banks are very good for certain businesses, like loans and guarding other people's money. They're not great investors or entrepreneurs.
One of the great things about Silicon Valley is, irrespective of how competitive you might be with another company or how closely you might be working with that company, there's a great sort of give and take, and camaraderie from - between - some of the executives in the valley and some of the other investors in the valley.
I guess the best thing about having a successful record like this is, like, I know I'm at least good for another five years, like, before everyone starts to like - all the haters start to come out again. And that's really what it is.
The E Myth. Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.
In 2007, there weren't any other accelerators, at least that I was aware of. We were almost the prototypical Y Combinator founders: We were highly technical but had never done a startup before. We also didn't know anyone in the Valley - investors, other entrepreneurs, potential hires. YC seemed like a great way to bootstrap that network.
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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