YouSaid · the spoken record

Tim Draper

lines on the record
24
first
2016-02-22
most recent
2016-02-22
sittings or episodes
1
sources
podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

  1. “Most recent investment, I mean, here's the problem. We make quite a few investments. And so I'm battling myself as to which one to tell you about. I think I'll tell you about Laurel and Wolf. Laurel and Wolf is an amazing company that allows people to do all their interior decorating with crowdsourced interior decorators. And then Laurel and Wolf identifies the best furniture for that application and then they get the furniture to you. So it's quite good and growing very quickly. So I think this crowd sourcing can be incredibly powerful, not just to get you a taxi, but to get you your food. We have an investment in favor, which gets you your food very quickly. Laura Ellen Wolf. And I really do love that technology. I like it as much as I like the peer-to-peer technology back when backed Skype.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “My favorite book is the startup game. My dad wrote it and it is by William Draper. He really captured the relationship between a venture capitalist and an entrepreneur in a great way. And he also has an underlying optimistic spirit that comes bursting through in the book. And whenever I'm thinking, boy, this is a tough day. I always kind of reflect back on that book. And it really did make a big impact on me. I also like Michael Rothschild wrote called Bionomics. He combined biology and economics and how economics has evolved the way biology evolves. It's fascinating. And it was just, it had a big impact on him.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Okay. Well, I like Mark Andreessen every time he talks, I am fascinated. I really love hearing him, Mike Moritz, brilliant, wonderful guy in the VC business. New VCs, I like Dave McClure at 500 startups. He's got a big marketing machine that he's operated with. I like the guys at plug and play. Saeed Amidi. Who really put the first incubator together? I love Ron Conway, who's one of the great angel investors.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Yeah, I think that it's really exciting because what it's done is it's allowed people to communicate throughout the world for free And before that, we'd send letters that might arrive four weeks later. Now it's just everybody in the world have complete access to everyone else in the world. That's huge.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Oh, I think Adam was really one of the real pioneers in Bitcoin. And so I guess he convinced me, although I had made an investment before Boost made its decision to go whole hog into Bitcoin and now VR, I had already made an investment in something called CoinLab. So I was aware of Bitcoin and excited about Bitcoin, but Adam in parallel had come up with this mission, and he saw that there were some incredible value. He's got this sort of futuristic look at the world. His goal is to make sure that we all have Iron Man suits. Bitcoin before Iron Man suit.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “More. The user interfaces of these uses are not as user friendly as they should be. And once they become more user-friendly, and the companies who are building these Bitcoin applications make them so that they're available in really easy to use for people's grandmothers. Then I think we've got rapid usage. And what's happening are people are using it for certain things just quickly. I needed to pay for a bunch of books for my school. And the author was in Africa and he didn't have any access to a bank account. And I said, well, do you have a Bitcoin account? And he said, sure. And I just sent him the money in Bitcoin and he just wrote an email said, thank you. And it was very easy.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Yeah, I think the adoption, I thought it would be three years, and that was two years ago. It might be another two years because all of these entrepreneurs who have worked very hard to create uses for Bitcoin, those uses are starting to be adopted. People are doing it. People are buying things with Bitcoin. They're sending money across with Bitcoin. They're doing all their banking, all sorts of things with Bitcoin. Wells Fargo or Goldman Sachs. So I actually think that it's only a matter of time. As there are more and more hacks into banks, as there are more and more, there's more and more need for more velocity of money. I think we're going to see Bitcoin being used more.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “28 cents or five dollars twelve cents and it cost them seven dollars to send each of those checks out to all those people. With Bitcoin, they could just get everybody's wallet or create a wallet for everybody and just push a button and it all would go right out. And using the blockchain, they could orderly figure out how much is due to each person. And then every time the show plays, people would get more money into their wallet. And then, of course, the obvious ones are the cross-border. That's been a mess trying to get money from here to Mexico or here to the Philippines or cross to India or something. People spend 10 to 20% of their money just moving it across. And if you use Bitcoin, it's almost free.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Well, I had heard a lot about it for quite a while, a year or two before really diving in. The reason I bought a bunch of Bitcoin from the U.S. Marshal's office, the Silk Road Bitcoin, that just before that, the biggest Bitcoin trader, Mt. Gox, somehow lost all of the Bitcoin that was in that trading house. And Bitcoin didn't disappear. So I thought it went down like 20% or something in value. And I thought, wow, there are people out there who really need Bitcoin. And then I went out and I did a lot of work figuring out what uses there are. And there are many.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “What was great was they did it all in the background. So I really just didn't do anything I don't normally do for the school and they did all the work in the background. They had something like 3,600 hours of video just to get to 10 one hour shows that they have. And then they took me aside for two or three sessions to make sure that we could string together the video that people were seeing in a logical way. So it really was not, it didn't take too much time away from me. It was actually a great fun to have the cameras around. I think the students performed at a higher level.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Well, I think it's great, potentially great marketing for the school. What was great about it is the ABC family, well, the producers came to us, the ugly brother studios came to us, and they said, we'd like to create a show about your, they called it a documentary series. And it turned out to be pretty much reality TV, but it's really great. Yeah, it follows 10 students through the trials and tribulations of being at Draper University. And it shows the audience some of the fun challenges that we apply to the students. And it's really fun. I think they've done an outstanding job. So that's Thursdays at 5 o'clock. So for anybody who wants to go watch that.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “No, they just need to go to draperuniversity.com and apply. You know, if they're 28, probably should have a pretty good idea of what they want to do if they're 18. No, they should just be open to the world.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Yeah, it kind of is. We take them through some real survival training, some of its urban where we say you got 24 hours, come back with a job offer on paper. Some of it's rural where they're working with Navy SEALs and special forces guide. And then at the end, they have a two-minute presentation to a panel of venture capitalists. And that's after they've spent about six weeks preparing their business plan, testing their ideas and their businesses against all of the 50 or so speakers that they get. It's quite an extraordinary program. And so if you're 18 to 28, take advantage of it.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Teach them in very unusual ways. We teach them future, which is taking the student instead of teaching history where we take them and get them reading science fiction and using predictive analytics, forecasting their business. And then we take them through the most modern techniques for marketing, crowdsourcing, viro marketing, social media, all those things. In finance, we teach them Bitcoin and blockchain and anything else that comes up that's a new method for finance.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “I started Draper University of Heroes because I felt like in 2009 when the financial world was starting to fall apart, I thought, gosh, the world really needs more heroes. So I thought, well, you know, just by creating a school, maybe we'll create enough heroes so that something like that doesn't happen again without people pulling us all up by our bootstraps. And so we've created this school to just create better people. Part of it is, a lot of it is about entrepreneurship. If they want to create a, save the world from hunger or create a revolution with a bad government or whatever, we give them the tools to do that too. We build their confidence. We strip away any shielding so that they're open to the world. And then we...”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Search engine for China. And it was true with Sevir Batia who ran hotmail. He had a nice quiet confidence about him and real enthusiasm for what he was doing. And it was actually true of Martin Eberhard when we funded Tesla before Elon Musk came in and refinanced it and took it over. And Elon, of course, has an amazing brilliance to him”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “Looking back, I actually think Nicholas Zenstrom, who started something called Skyper. Pinch me in the most smooth and effective way. And then he called me after I said, yeah, that sounds great and I was in. He said, well, oh, by the way, we're changing the business model and we're just, we're going to use file sharing to go after the phone companies. And I said, oh, even better. I'd say he really knew how to pitch. In all the cases of the greatest entrepreneurs, I think it's been enthusiastic but quiet confidence that I see in the ones that became enormously successful. So that was true of Robin Lee when I worked out the deal with him. It was true with Robin Lee and Baidu.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “Using electronic shares like e shares or cap share, or you want to make sure that they've set up their medical system for their employees through something like a Sherpa where it's much less expensive to manage their medicine. You want them set up so that they use networked accounting. It becomes a much more streamlined business. And a lot of entrepreneurs just coming out, they have a vision, but they don't know any of these operational techniques that can improve their business. And so we like to make sure that they're pointed in the right direction.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “I like it early because then I can help guide the company early. And that's part of the reason that I started Draper University of Heroes. That is to grab entrepreneurs before they've even started their business. And then my son's accelerator boost has made it so that we also have the ability to sort of accelerate a new business. And then I like investing when there are two or three people in the company and they have a really good mission. And that can be before they've gotten any revenue or just after. And then I like to help get them set up in the right way. And that has evolved. Getting companies set up in the right way has become an evolutionary mission because you want to make sure that there”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Oh, I think it has and it will. I think we're going through some really interesting times where the angels, the crowdfunding, new methods for getting liquidity for investors, all of these things Bitcoin, the blockchain, they're going to be new technologies applied to venture capital just the way file sharing was applied to the music industry or Uber was applied to the taxi industry. And I'm excited about it. I'm getting out in front of it.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “I missed a really good one there because I was not persistent enough. But then the business was, it was a little bit of a clubby business because most venture capitalists needed other venture capitalists to help them fund a company. So they worked together a lot more. Now that works the same way in the angel community, but in the standard venture business, I think particularly in the Silicon Valley, it gets more competitive because venture capitalists have a lot more money under management. The other thing that's happened to the venture capital business is that it's gone global. And I enjoyed being a part of the expansion globally of venture capital. And that has really affected the whole industry. At a venture capitalist was when I was getting started. They sure do now.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Oh, it's pretty funny. When I started Draper Associates, I borrowed money from the government to get going through the SBIC program. And I was knocking on doors. I went around to new real estate developments in the Silicon Valley and looked for companies that were starting, that were sort of in small offices that had the word software in them. And so I knocked on doors and remember I got kicked out of Intuit's front office because the woman there said, no soliciting, get out.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “I think it helped me to know that everybody who's starting a business is going on a wing in a prayer. I think that's kind of a nice thing to have in your backpack. But no, some people become very good venture capitalists just coming straight. I think if you want to be an entrepreneur, you should just go be an entrepreneur. If you want to be a venture capitalist, you should just go be a venture capitalist. I think just taking that first step toward whatever your goal is is always a good idea.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Oh, okay. Well, I was an electrical engineering major coming out of Stanford, and then I worked for Apollo Computer as the assistant to the president. And then I went to Harvard Business School. And then when I came out, I wanted to be a venture capitalist. But before that, my grandfather and my father were both venture capitalists. So it was kind of the last thing I really wanted to do. I wanted to be an entrepreneur, but I had so many different ideas for entrepreneurship. I realized that I needed to be more of a supporter or a consultant or a cheerleader than to be the entrepreneur myself.”

    2016-02-22 · The Twenty Minute VC · 20VC: Tim Draper on Investing In Tesla, The Best Pitch He Has Ever Seen & The Evolution of Venture and Startups · IDENTIFIED FROM THE TRANSCRIPT · source