A Quote by Steve Jurvetson
When the venture capital industry invests, it's usually because they sense there is money in them hills. And often it takes a high-profile winner to wake everyone up in the category. SpaceX is that company.
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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.
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.
When I started Biocon in 1978, the obstacles I needed to navigate were manifold - ranging from infrastructural hurdles to issues related to my credibility as a business woman. With no access to venture capital, money was scarce and high-cost, debt-based capital was all I had.
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.
Capital formation is shifting from the entrepreneur who invests in the future to the pension trustee who invests in the past.
It's not easy to be my sons because we're very high profile. We try so hard to give them a normal life. I'm very, very tight with them about money. I don't give that money until they ask, 'I need 100 yuan for my lunch card,' and so on. So they never have extra money.
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.
My individual power is limited. I want to use my high-profile way to wake people up to take action together to do good things. I can only awake them with my performance art and creativity.
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
There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated.
For every company that sees the value of their capital go up, there's another company that has been disrupted, and the value of their capital gets marked down because it's not going to compete in the same way.
When I get up and work out, I'm working out just as much for my girls as I am for me, because I want them to see a mother who loves them dearly, who invests in them, but who also invests in herself. It's just as much about letting them know as young women that it is okay to put yourself a little higher on your priority list.
While I'm a venture capitalist who invests in early-stage tech companies, I often feel like a professional emailer and conference call maker.
If all money capital invests in appropriation and none in actual production, then capitalism is not long for this world.
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.
I try getting in front of as many opportunities as possible, but in the late '90s, I had no idea that I'd end up being CFO of a technology company. I'd no idea what venture capital was.
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