VC UNLOCKED: DAY 1 (recap) Topic: SV ecosystem There have to | 💌 Стася печатает...

VC UNLOCKED: DAY 1 (recap)

Topic: SV ecosystem
There have to be exits in the ecosystem. SV exists because “exit millionaires” reinvested in the industry:

1960s semiconductor invention => first VCs to support hardware production
1970s dawn of software and systems => first VC with entrepreneurial background
1980s $1,7b Apple IPO => venture goes mainstream
1990s“the Netscape moment” / dootcom crush => lots of new vc
2000s: SaaS and social media boom = > super seeds funds
2010s: “Disruption of the old guards” (uberification) => accelerators, pre-seed funds
2020s: ? Web 3

Golden naggets:
“Relations are local. Trust does not flow global as money does.”
“The only constant is change.”
“Choose geography of investment depends on partners' background and talent recycling”


Key elements of SV culture:
- Civil law foundation of “non-compete”
- Strong Academic Institutions with ties to Industry
› Stanford/UC Berkeley
› Government Labs: LLNL, LBNL, SRI
- Creates Powerful “IP Machine”
› But Key is Transferring the IP
- Fueled by a non-traditional source of high-risk capital (VCʼs)
- Culture That Accepts and Understands Failure
› Talent Recycling is Critical
› Creates Experience Base of Tech + Management Experts
› Provides Key Pool of Industry Mentors
› Forms Basis for Angel and Super Angel Investors
- “Give Before You Get”/ Give first
- Everyone Can Be a Mentor for Someone about Something
- Embrace Diversity / Tolerance / Inclusivity /“Weirdness”
- Be Open to Any & All Ideas from Anyone
- Go for a Cup of Coffee
- The Importance of the Post-Mortem Celebration / the “After-Party”

My personal recommendations about building startup ecosystems (books that IIDF used for building ecosystem in Russia in 2010s):

How to build startup ecosystems: Startup communities - Brad Felt
The startup community - Brad Felt and Ian Hathaway