[500 STARTUPS DEMO DAY 2016] Fireside Chat with Dave McClure and Tim Draper | Summary and Q&A

TL;DR

Tim Draper discusses his experiences with venture capital and international investing, including his success in backing companies like Skype and Baidu. He also shares his perspective on brand and marketing, as well as his thoughts on the current state of the venture capital industry.

Key Insights

• 🤩 Tim Draper believes that having a customer-centric mindset and a focus on delighting customers are key qualities in great founders.
• 🥺 International investing can present unique opportunities for venture capitalists, and being a first mover in new markets can lead to significant success.
• 😑 Engaging with the press and leveraging marketing strategies can help venture capitalists build their brand and attract deal flow.
• 🇨🇫 The venture capital industry has changed over the years, with a shift towards more stable companies going public and regulations making it more expensive for companies to stay public.

Transcript

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Questions & Answers

Q: How did Tim Draper get started in venture capital?

Tim started in venture capital by founding Draper Associates, taking over his father's company SBI, and borrowing $6 million from the government.

Q: Why did Tim Draper decide to focus on international investing?

Tim's exposure to different cultures and his father's role as the head of the UN Development Program influenced his decision to invest internationally and seek opportunities outside the US.

Q: What was the DFJ network, and why did Tim Draper decide to create it?

The DFJ network was a franchise-like model for venture capital. Tim started it accidentally in Alaska, and then expanded it based on the success they saw. They wanted to prove that venture capital could be done remotely.

Q: How did Tim Draper build his brand and marketing strategy for DFJ?

Tim was the first venture capitalist to advertise and engage with the press. He took out ads in magazines like Upside and established relationships with journalists, which helped build the reputation of DFJ as a pioneer in the industry.

Summary & Key Takeaways

• Tim Draper talks about his journey in venture capital, including his founding of Draper Fisher Jurvetson and Draper Associates.

• He highlights the importance of international investing and shares his experiences investing in China and Ukraine.

• Draper discusses his approach to finding great founders, emphasizing the importance of a customer-centric mindset and the ability to "delight" customers.