Great developers are not people who can produce bubble sorts or link shorteners on demand. They are the people who when you harness them up to a project, never stop moving and inspire everyone around them to do the same. Fuck Rockstars. Hire workhorses.
We need people who want to do really hard things. We need people who live for the struggle.
Tomorrow’s cars won’t just use natural resources more efficiently than today’s do. They’ll also make automobility cheaper, accessible to a wider range of users, more convenient, and faster. Thanks to driverless technologies and the car-sharing services they’ll enable, blind people and old people will be able to transport themselves without assistance. Circling for parking will go the way of dial-up modems. And millions of suburban garages, no longer needed to store two or three lightly used late-model sedans, will be leasable through Airbnb and other sharing platforms as office space for millions of new start-ups!
Pre-Seed is the new Seed. (~$500K used for building team and initial product/prototype)
Seed is the new Series A. (~$2M used get for building product, establishing product-market fit and early revenue)
Series A is the new Series B. (~6M-$15M used to scale customer acquisition and revenue)
Series B is the new Series C.
Series C/D is the new Mezzanine
Betting on people prematurely can also be a great hiring strategy. Find the superstar who’s just a bit less experienced than your job req suggests and give them the chance to step up. Especially from larger companies where promotion criteria is too firmly specified, good folks can find themselves locked into junior roles for distressingly long periods of time. Bring them on board, elevate them but also provide the support they need… I don’t want to bet on someone who has done the job before, but someone with the headroom and capacity to do this job and beyond.
As a best kept secret that won’t stay a secret for long, the Midwest is on its way to becoming a great economic driver in the technology ecosystem as entrepreneurs understand success can be achieved without being in Silicon Valley.
The reality about VC is that while you swing for the fences, it’s very hard to hit a home run. Getting doubles and triples instead of zeros in other at bats can make a difference. When you are an entrepreneur, an outcome like this means millions in your bank account. Maybe not never-have-to-work-again type of money, but life-changing amounts.
Words of wisdom as we near the deadline for 2014 @Brandery applications:
Solve a real problem. You don’t start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur to solve a real problem.
- Aaron Patzer
While Apps may dominate time on mobile, the overwhelming majority of that time is spent on Gaming, Facebook, and Social Messaging.
The Internet is the first medium invented in 100 years that wasn’t invented to make advertisers happy. The connection between running ads and making money is broken, probably forever. As soon as you take that out of the equation, everything we understand about marketing, manufacturing, distribution—it all goes away. The new era of modern marketing is about the connection economy, it’s about trust, it’s about awareness, it’s about the fact that attention is worth way more than it used to be. Attention doesn’t come in nice little bundles anymore.