the impatience of both youthful exuberance and the v2
TRANSCRIPT
The Impatience ofYouthful Exuberance and
Insanity of Entrepreneurship
NAPEC Globalization & Innovation ConferenceApril 18, 2014 - Chicago
Let’s do a
startup!
Sounds cool…
You have a good gig going on,
why do you want to leave
it?
I’ve been thinking about it,
too. I want to….
You have an idea…
Blockbuster Deals
• Oculus VR - $2B by Facebook• Viber - $900M by Rakuten• What’s Up - $16B by
IPO or not to IPO?
• 31 companies have together raised $13B by listing on US markets this year (2014.)
Boston - Best Venture Quarter In Years
http://info.crunchbase.com/2014/04/08/boston-wraps-up-its-best-venture-quarter-in-years/
B/Millionaires Under 30
http://www.therichest.com/rich-list/world/top-10-richest-people-in-the-world-under-30/
Truth About Startups
• Startups are Insanely HARD• You Live in Your Own Reality• Constant State of Rejection• Doubts/Doubts/Doubts• Problems With No Answers• Paycheck Free Environment
(or close to it)• Startups FAIL More Often than
Succeed
http://blog.clarity.fm/insanity-the-secret-of-entrepreneurship/
Lottery odds of success!
http://www.statisticbrain.com/startup-failure-by-industry/Research Date: 1.1.2014
Passion for Your Idea/Product
“You should be embarrassed by the sheer audacity of your vision!” - Richard Price
Distinctive Vision“You need a set of innate skills that differentiate you from the thousands of others who set out on your similar journey. You need a great concept in which you will build something that is truly unique and that will be valued by your customers.” M. Suster
Patience and Persistence
“80-90% of startups fail. But, in Entrepreneurial world it’s not considered bad if you have failed,” Mr. Vidra said. “You learn
from failure in order to maximize success.” of your next project.
“If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.” Chris Dixon
But not Stubborn or Arrogant..
Always be learning…
Be Available to Pivot…
Facemash, a website that presented two photos of Harvard students and let users vote of who is better looking
Social media giant worth over $100B
Tune in Hook Up, a video dating service
Video sharing purchased by Google for over $1.6B in stock
Started As Today