E841 Randy Komisar KPBC Straight Talk for Startups, why founders fail, how VC changed, market future

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Randy Komisar, entrepreneur & Kleiner Perkins VC, shares "Straight Talk for Startups" & insights on why startups fail, cultivating luck as a skill & accountability over apology, how VC has changed, the future of the market & the enduring wisdom of investing in talent.
Show Notes:
00:47 - Jason introduces this episode’s guest, Randy Komisar! Randy used to work for George Lucas at LucasArt, has been a venture capitalist at Kleiner Perkins for a few decades, and is also an author! Randy recently released his book titled Straight Talk for Startups, which shares 100 insider rules for anyone looking to make their startup successful.
1:52 - Jason asks Randy how he describes his career.
3:58 - Jason shares a story about when he pitched to Randy, in the early 2000’s.
5:45 - Randy shares more about one of his failed investments, a competitor to Tesla known as Fisker. Randy shares his thought process at the time, of betting against Elon Musk.
8:01 - Randy explains how he came to write Straight Talk for Startups.
10:49 - Thanks to our sponsor Weebly! Weebly provides you with all of the tools to make your website attractive and competitive. Visit www.Weebly.com/twist for 15% off your first purchase!
16:38 Jason asks who incubators are right for, and why?
20:09 - Randy shares more insight on one of his tips from his book - Creating both aspirational and executional business plans.
25:38 - Thanks to our sponsor, Linkedin! Go to www.linkedin.com/thisweekinstartups to get $100 of Linkedin credit to try out their ad network with.
30:20 - Jason and Randy discuss the sustainability of the current state of the startup market.
38:14 - What does seed investing mean for entrepreneurs when they go to market? Randy breaks down a few of the investor archetypes that exist amongst venture capitalists.
40:40 - Randy reflects on some of the top reasons why founders fail, in today’s climate of founding startups. Randy argues that we collectively put too much money behind unproven ideas, not taking calculated risks.
43:47 - Randy goes through the different Venture Capitalist archetypes outlined in his book.
54:04 - When should a founder sell a company? Randy argues its necessary to understand how rare it is for companies to hold out against all odds and reach valuations quadruple what they nearly sold for.
58:39 - Randy shares what kind of entrepreneurs he looks for. What characteristics he looks for in entrepreneurs that he would want to work with.
59:42 - Jason asks how Randy mentors undisciplined founders.

Опубликовано:

30 июл 2018

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Комментарии : 15

@henrysoo1024 6 лет назад

A bundle of pure gold! Awesome insight and action items. Kudos Jason and team!

@startups 6 лет назад

Thanks Henry! 🙌

@aertybhujm1 2 года назад

It took me ages to understand the majority of the content in this video. Thanks to the host and the guest

@JeffJacquesmd 6 лет назад

Jason, truly excellent 76 minutes packed with incredibly important insights. I've downloaded Randy's book on Audible. Thanks for another awesome podcast/vlog

@aertybhujm1 2 года назад

Thank you for Jason's podcast

@aertybhujm1 2 года назад

I have finished watching this video completely. (我看完這部影片了) I am a Taiwanese who cares about the global affairs. (我是一個關心全球事務的台灣人) And, sadly, most of my fellow Taiwanese don't really care about the world. (但是，很不幸地，我大部分的台灣同胞不那麼在意世界。) Hopefully Taiwan can become increasingly globally-aware and globally-competitive. (希望台灣可以越來越有全球意識與全球競爭力。) God bless Taiwan. (天佑台灣。)

@reinormand 6 лет назад

Excellent interview. Thanks Jason!

@startups 6 лет назад

Thanks for watching Reinaldo!

@marcussosa-bassillio3189 6 лет назад

Hey Jason, I was wondering if you could tell us a list of 10 books we should read, yours first and foremost of course😄

@SnoopyDoofie 6 лет назад

Jason mentions that he finds it senseless if a startup spends a year building a product without knowing what the customer even wants. There are certainly startups that do that. Most probably are never successful although some are. Still, he fails to realize that many successful products and services have been built out of strong gut feelings without consulting clients. If you can communicate with clients in advance or while the product is being built, that is great but for some startups, even divulging what you work on to others has its risks of others copying your work. Zuckerberg did in fact steal the idea for Facebook because the Winkelvoss twins were too stupid to have a signed agreement with Zuckerberg. I worked with a guy who was an engineer. He came up with an idea to build a chip that would allow parents to block inappropriate content on TVs from being accessible to their children. He built this all in his own time and money and it took him well over a year. Long story short, his product eventually gained investor backing and ended up on President Clinton's desk where he signed a bill requiring it to be installed into all televisions sold in the US. It is known as the patented V-Chip. He didn't ask customers what they wanted. He simply knew what HE wanted and what probably many people would want. Unlike most entrepreneurs in Silicon Valley, he is the genuine McCoy who build something he was passionate about and wasn't in it for the money. It took Larry Page and Sergei Brin took 2 years to build their search engine. There were already search engines all over the Internet, so if they had to ask customers if they wanted a more accurate search engine, the answer probably would have been no. They simply built what they believed was something the world could use. So don't knock those who spend a year of their own time and money building something that they are strongly convinced will succeed. Too many investors in Silicon Valley are just out to make a quick buck and have lost the original vision of what being an entrepreneur is really all about.

@110gotrek 6 лет назад

The typical error for diversity hiring is when people confuse diversity of thought, with diversity of demographics.... This confusion comes from the political influences brought by actual sexism and racism, thought in HR courses. Perpetuating this lie, which only creates illegal practices and sexism and racism towards others. Destroying the working culture in the process, as hiring isn't based on competency, but instead based on your genitals or skin colour. This is how you create dangerous toxicity in the working environment. All for the sake of "diversity", instead of diversity of *thought*, which is the real objective here, as you've said. Either way, great talk! Loved the advice for startups!

@NR-rv8rz 6 лет назад

lol . . . Randy "Beith is one of the best investors out there, forget gender". Ha ha, right, so why don't you do exactly that then? Just hire the best investors and forget gender, and race and nationality and sexual orientation etc. Instead of saying we have to hire more women, black people, etc then just forget it all and say you have to hire the best with no regard to identity. Insisting on hiring based on identity means you are going to have an artificial quota which leads to discrimination against someone else. You can not discriminate 'for' someone without discriminating 'against' 'someone else. It also leads to suboptimal hiring. Just hire the best and make sure no identity factor distorts that principle. Boom, all prejudicial hiring goes away.