Web 2.0 Summit 2008 Day 1, Noon *Nuggets of Knowledge: Incubator Panel*
By Larry Chiang
http://www.WhatTheyDontTeachYouAtStanfordBusinessSchool.com
SF, Calif -- November 5th 12:25pm -- Web 2.0 Summit
Dave McClure's Incubator Panel
Jeff Clavier, Josh Kopelman, Ron Conway and Paul Graham
We fund powerPoints.
We like companies with less than four employees
Exit market doesn't exist.
21,000 venture funded companies. 308 IPOs
2001 was tech centered implosion.
2008 was a big bust outside of tech
Predicting failure is a service we provide.
Pattern recognition of entrepreneurial tracks.
Ron Conway's Prediction: two companies will be created that will be billion dollar businesses.
Silicon Valley will continue to be a strong breeding ground for entrepreneurship.
Josh Kopelman's Prediction: VC funds are changing and office space will be easier to get on Sand Hill Road
Jeff Clavier's Prediction: LPs will see a broken VC mold. Size of round vs size of exits.
You cannot postpone the identification of biz model.
Paul Graham's Prediction: if people leave, the leaders will follow. Now you can start a company without investor "permission". Bulge Bracket VCs are optional.
Dave McClure Prediction: VCs need to be expert and add value.
None of these anfles and VCs are in the article, "9 VCs you don't wanna meet" http://gigaom.com/2008/01/08/9-vcs-youre-gonna-want-to-avoid/
I founded http:/www.duck9.com, which educates college student on how to establish and maintain a FICO score over 750. I testified before Congress and World Bank on credit.
http://www.creditcard.org/testimony.htm
http://www.ucms.com/Larry-Chiang-World-Bank-Beijing-Presentation.htm
My Amazon blog http://tinyurl.com/AmazonBlog
