In business the first-mover advantage is obvious but it is not foolproof. As one analyst wrote, “First-mover advantage is no absolute guarantee of success, and for reasons which must remain forever mysterious, late-arriving and sometimes inferior products often take over the market from the first-movers.” ... Read on.
“There are different ways to do innovation. You can plant a lot of seeds [and] not be committed to any particular one of them but just see what grows. And this really isn’t how we’ve approached [Facebook]. We go mission-first then focus on the pieces we need and go deep on them and be committed to them.” — Mark Zuckerberg, Founder and CEO of Facebook, in an interview with Fast Company, 2015 ... Read on.
The Pacific Crest 19th Annual Global Technology Leadership Forum reminded me of a promotional tour I once went on with my dad and some of his clients in the music business. In two days, I did 16 meetings with growth funds, about 50 minutes each, one right after another. I’d make the same pitch, give the same updates. I even wound up making the same jokes in the same places. Pull the string and let the puppet do its thing. ... Read on.
As I’ve said before, there’s nothing like the rush of that lightbulb moment when a great idea arrives. I’ve experienced it myself several times. It’s the best part of being an entrepreneur. Everything that follows is hard work. ... Read on.
There are basically two types of venture capitalists. The first wants to make a difference by building something. The second just wants purely to make a financial gain. ... Read on.
For years, the top three foreign languages taught in U.S. public schools have been Spanish, French and German. One language that isn’t on the list — but should be — is Business, with a capital B. ... Read on.
During my career, I’ve spent time at every point along the investor food chain. I’ve experienced the purity of being a venture-backed entrepreneur in the dot-com bubble. Then I founded one of the first seed funds in New York City. Now I’ve gone back to the operating side. ... Read on.