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Presentation to REEE Guy Kawasaki CEO and Managing Director Garage Technology Ventures

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Page 1: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Presentation to REEE

Guy Kawasaki

CEO and Managing DirectorGarage Technology Ventures

Page 2: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

For copies of this presentation:[email protected]

Page 3: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Then and Now:10 Changes in Entrepreneuring

Page 4: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

1Then

Now

Cleverness

Technology

FoundationFoundation

Page 5: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

2Then

Now

Build Brand

Build Business

PriorityPriority

Page 6: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

3Then

Now

Raise more money

Bootstrap

FinancingFinancing

Page 7: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

4Then

Now

MBAs

Engineers

Key EmployeesKey Employees

Page 8: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

5Then

Now

Advertising

PR

Getting the Word OutGetting the Word Out

Page 9: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

6Then

Now

Disintermediation

Evangelism

LeverageLeverage

Page 10: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

7Then

Now

Think Global

Act Local

ScopeScope

Page 11: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

8Then

Now

Alliances

Revenues

Business DevelopmentBusiness Development

Page 12: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

9Then

Now

Liquidity

Passion

Raison d’ êtreRaison d’ être

Page 13: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

10Then

Now

Next Big Thing

Next Big Thing

Big PictureBig Picture

Page 14: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Silicon Valley 4.0Silicon Valley 4.0

Page 15: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Silicon Valley 4.0Silicon Valley 4.0

1.0 Chips

2.0 Personal Computers

3.0 Internet

4.0 Intelligence

Page 16: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

1 Not fixing Silicon Valley 3.0

Silicon Valley 4.0Silicon Valley 4.0

Page 17: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

2 Quantum leap in ubiquity

Silicon Valley 4.0Silicon Valley 4.0

Page 18: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

3 Infinite and free bandwidth

Silicon Valley 4.0Silicon Valley 4.0

Page 19: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

4 Totally wireless

Silicon Valley 4.0Silicon Valley 4.0

Page 20: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

5 Always on

Silicon Valley 4.0Silicon Valley 4.0

Page 21: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

6 Always connected

Silicon Valley 4.0Silicon Valley 4.0

Page 22: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

7 Every device has an IPaddress

Silicon Valley 4.0Silicon Valley 4.0

Page 23: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

8 Self healing

Silicon Valley 4.0Silicon Valley 4.0

Page 24: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

9 New storage and searcharchitecture

Silicon Valley 4.0Silicon Valley 4.0

Page 25: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

10 Network is theknowledge

Silicon Valley 4.0Silicon Valley 4.0

Page 26: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Ten Ways It’s Not Going toHappen

Ten Ways It’s Not Going toHappen

Page 27: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

1 Not going to be a proventeam

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 28: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

2 Not going to be a proventechnology

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 29: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

3 Not going to be a provenbusiness model

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 30: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

4 Not going to raise $50million in capital

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 31: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

5 Not going to generatecompetitive term sheets

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 32: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

6 Not going to be embracedby today’s “experts”

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 33: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

7 Not going to be created byan existing company

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 34: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

8 Not going to be sold toexpected customers

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 35: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

9 Not going to be used inanticipated ways

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 36: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

10 Not going to happen ifnobody tries

Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen

Page 37: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Guy KawasakiCEO, Garage Technology Ventures

Lessons from the Trenches:Ten Things Students Should LearnBefore They Graduate

Page 38: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

1

Lessons from the TrenchesLessons from the Trenches

Ideas are easy,implementation is hard

Page 39: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

2

Lessons from the TrenchesLessons from the Trenches

More OB, less Finance

Page 40: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

3 Do the math

Lessons from the TrenchesLessons from the Trenches

Page 41: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

• Costs $1• Sell for $5• Margin = 20%

Lessons from the TrenchesLessons from the Trenches

Page 42: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

4 Everyone is a “productmanager”

Lessons from the TrenchesLessons from the Trenches

Page 43: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Power

Responsibility

CurriculumIncomingstudents

X

Lessons from the TrenchesLessons from the Trenches

Kona

Page 44: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

5 • One-page emails• Twelve slides• One hour meetings

Lessons from the TrenchesLessons from the Trenches

Be brief

Page 45: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

6 Make your boss lookgood

Lessons from the TrenchesLessons from the Trenches

Page 46: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

7 Life’s a niche

Lessons from the TrenchesLessons from the Trenches

Page 47: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Unique abilityto provide

Value to customer

Stupid

Price

X

Lessons from the TrenchesLessons from the Trenches

Dotcom

Page 48: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

8 A players hire A players

Lessons from the TrenchesLessons from the Trenches

B players hire C players

Page 49: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

9

Lessons from the TrenchesLessons from the Trenches

Don’t ask anyone to dosomething you wouldn’tdo

Page 50: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

01 Right and wrong areabsolute

Lessons from the TrenchesLessons from the Trenches

Page 51: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

11 Karma counts

Lessons from the TrenchesLessons from the Trenches

Page 52: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Overview of GarageOverview of Garage

� Boutique investment bank

� Three services

� Venture capital� Private placement� M & A advisory

� Capital for innovation

� Venture� Intellectual� Relationship

Page 53: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

Garage CaliforniaEntrepreneurs FundGarage CaliforniaEntrepreneurs Fund

� $10M funded by CalPERS

� Focus on companies emerging from

California universities and research labs

� Sectors: software, communications, and

infrastructure

� Garage will lead or co-invest

� Typical investment: $250K seed stage, up to

$400-500K total over time

Page 54: Presentation to REEE · Ideas are easy, implementation is hard. 2 Lessons from the TrenchesLessons from the Trenches More OB, less Finance. 3 Do the math Lessons from the TrenchesLessons

For copies of this presentation:[email protected]


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