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Entrepreneurs are the New Asset Class (BlackBox)
saad khanon 1 November 2011
Transcript of Entrepreneurs are the New Asset Class (BlackBox)
Each of these investments should be associated with a person (image story, flashed on the screen) Jim Everingham Rich Skrenta The Pivot Business Plans will change Technology is commodity People Are Everything LiveOps Renaud Laplanche --
The quiet doer Tenacious Max Marmer? Ben Katz Muslim, middle eastern types? Why Entrepreneurs Don't Need VCs Salman Khan, The Khan Academy Paolo Pirjanian
Armenian who fled from Iran Premal Shah (Kiva) How did I get here? Pakistan
high school in Karachi
Talk about Stanford (and the entrepreneurial culture)
How I got my first job in VC
Work in CA Zach Coelius Film examples? Outline:
How did I get here?
Forbes piece: Why Entrepreneurs are the new asset class
How do you identify them?
Profiles of some people I have invested in (or am a fan of)
Who Am I? (non traditional path VC)
Rich Skrenta "Hacker" (include TechCrunch press)
Tim Westergren (Pandora)
Renaud Laplanche (silent doer)
Leila Janah: Tenacious
Salman Khan: One man army
You're the story, you're the key asset (not a technology, not a product, business model: its you)
Whats your story?
Structure of presentation (wheel of people?) -- everything in this pitch should be about people (thats the metaphor in this presentation) Fahad's white house / youtube story Avalanche story
Wedding videocam story
how i got to the middle east Women 2.0 Non-traditional VC (my path) Omar Siddiqi
Ali Diab (Ripple, AdMob)
Hussein / Alex Aliph
Nauman K investing in people
VC in the middle east for a long time Non linearity of entrepreneurship
Fog of entrepreneurship What makes a great entrepreneur? So...what's it all mean? Never say die Music Genome Project --> Savage Beast --> Pandora --> iPod / iTunes / iPhone
Pandora has 60 million users today. # 1 iPhone app. Going to be in a car near you.
(The world before iTunes) Rich Skrenta Tim Westergren How do you identify them? + 100 other companies Renaud Laplanche Music Genome Project 1999- Savage Beast 90 million users today $3+ Billion IPO in 2011 85% marketshare in the US Founder of Lending Club raised $50M+ of venture capital “Imagine investing in the future of Lebron James when he was 10, or K rod , or any highly paid sport star.
all year. He weighs 150 pds, hits a ball 210 ft, throws left and very accurate. Do the research on left handed pitchers in MLB and what the earning potentials are. If you would like to know more, or just know someone that
please e mail me. Thank you.” Pakistan Lahore Karachi San Jose 2004-Pandora 2007-RIAA almost put them out of business 2008 built an iPhone app. 2010 Pandora makes a deal with Ford Is used 11.6 hours a month 2009- $50 million revenue first profitable quarter Empathize $300 million of loans originated Average annualized 9.6% return Inspire A million students learn from his website every month ~ 900 workers around the world Leila Janah ~ $1.5 Million in booked contracts
Rewrite the rules Blekko Topix [acquired by Gannett] Elk Cloner Virus New Hoo [acquired by Netscape] Salman Khan Has created an open source virtual school Has created over 1800 videos [gets more traffic than Stanford, MIT and all Ivy League courses combined] (bust) 1. Rewrite the rules
2. Never Say Die
4. Inspire Is this you? But first, a little background Sun Cryptography Customers include Facebook, Google, LinkedIn, Intuit Raised $1.2 Million from Google.org, Rockefeller Foundation Winner of French Innovation Prize, Templeton Foundation, Freedom Award I have a 12 yr old boy in Florida that plays baseball Invest in the future of sports players, Stanford School of Design twitter: @saadventures
firstname.lastname@example.org Entrepreneurs Are the New Asset Class Blog: SaadWired.com
Email: email@example.com Blog: SaadWired.com