Vinod Khosla Keeps It Real | Disrupt SF 2013

Transcript

Welcome. Thank you. Thanks for inviting me back. That's probably good news. Oh, I think it was beg you back. You are always a fascinating guy because you say stuff that no one else will say. So I want to set the bar right there. Hopefully I'll do that again. Uh so first of all, hi everyone. Hi Venode. you said that you actually would like to get so... Read More

Summary

In this video, the speaker discusses various topics, including audience interaction, the hiring of Keith Raboy, the value of trying crazy things in venture capital, the importance of team members who can increase the probability of success, the lack of value-add from many venture capitalists, the challenges of taking advice as an entrepreneur, the potential of food tech, the problems the speaker is trying to solve, the use of robotics and machine learning in various industries, the application of software and sensors in healthcare, and the speaker's views on government snooping.

Questions & Answers

Q: Do you regret hiring Keith Raboy?

No, we do not regret hiring Keith Raboy. He brings a willingness to try new things and is a great addition to our team at Coastal Ventures. We value his ability to think outside the box and take on new challenges.

Q: How important is it to have team members who can increase the probability of success for entrepreneurs?

It is extremely important to have team members who can help entrepreneurs increase their chances of success. At Coastal Ventures, we believe in not only investing in startups but also providing guidance and support to help them achieve their goals. Having team members who can offer valuable advice and insights can significantly impact the success of a venture.

Q: Who are the new hires at Coastal Ventures?

We have recently hired both Keith Raboy and Ben Lang, and we are thrilled with the team we are building. Keith's experience in companies like LinkedIn, PayPal, and Square gives him valuable insights into what it takes to make a startup succeed. Ben Lang also brings a wealth of knowledge and expertise to the team.

Q: What do you think about the value-add of other venture capitalists?

In my opinion, the majority of venture capitalists add little or no value to startups. While many may attend board meetings and offer advice, they often lack the experience and track record to truly guide entrepreneurs. At Coastal Ventures, we focus on mentoring and coaching entrepreneurs on an individual basis, rather than relying on board meetings where multiple VCs may provide conflicting advice.

Q: How do you decide whose advice to take as an entrepreneur?

As an entrepreneur, deciding whose advice to take can be a challenging decision. Many people will offer their opinions and advice, but it's important to consider their experience and track record. I always approach giving advice with the understanding that I am not always right, but I can draw from my own vast experience of mistakes to guide entrepreneurs. Ultimately, it's up to the entrepreneur to determine what advice is most valuable for their specific situation.

Q: How do you feel about government snooping?

I am concerned about government snooping, but I also understand the need for security measures. In my opinion, it's a trade-off between privacy and security. I believe that transparency is essential, and the government should be more open about what they are doing in terms of surveillance. However, I also recognize that without certain security measures, we may be at a higher risk of terrorist attacks. It's important to find a balance between protecting our privacy and ensuring our safety as a society.

Takeaways

In this video, the speaker touches on various topics, including the importance of team members who can increase the probability of success for entrepreneurs, the value-add (or lack thereof) of many venture capitalists, and the trade-offs between privacy and security in the context of government snooping. The speaker also highlights the potential of food tech, robotics, machine learning, and software in various industries, particularly healthcare. The use of technology and data analysis can revolutionize fields like cardiology, psychiatry, and internal medicine, leading to better outcomes and cost savings. Ultimately, the speaker encourages pragmatism in order to find the balance between privacy and security.