Presentation to REEE
Guy Kawasaki
CEO and Managing DirectorGarage Technology Ventures
For copies of this presentation:[email protected]
Then and Now:10 Changes in Entrepreneuring
1Then
Now
Cleverness
Technology
FoundationFoundation
2Then
Now
Build Brand
Build Business
PriorityPriority
3Then
Now
Raise more money
Bootstrap
FinancingFinancing
4Then
Now
MBAs
Engineers
Key EmployeesKey Employees
5Then
Now
Advertising
PR
Getting the Word OutGetting the Word Out
6Then
Now
Disintermediation
Evangelism
LeverageLeverage
7Then
Now
Think Global
Act Local
ScopeScope
8Then
Now
Alliances
Revenues
Business DevelopmentBusiness Development
9Then
Now
Liquidity
Passion
Raison d’ êtreRaison d’ être
10Then
Now
Next Big Thing
Next Big Thing
Big PictureBig Picture
Silicon Valley 4.0Silicon Valley 4.0
Silicon Valley 4.0Silicon Valley 4.0
1.0 Chips
2.0 Personal Computers
3.0 Internet
4.0 Intelligence
1 Not fixing Silicon Valley 3.0
Silicon Valley 4.0Silicon Valley 4.0
2 Quantum leap in ubiquity
Silicon Valley 4.0Silicon Valley 4.0
3 Infinite and free bandwidth
Silicon Valley 4.0Silicon Valley 4.0
4 Totally wireless
Silicon Valley 4.0Silicon Valley 4.0
5 Always on
Silicon Valley 4.0Silicon Valley 4.0
6 Always connected
Silicon Valley 4.0Silicon Valley 4.0
7 Every device has an IPaddress
Silicon Valley 4.0Silicon Valley 4.0
8 Self healing
Silicon Valley 4.0Silicon Valley 4.0
9 New storage and searcharchitecture
Silicon Valley 4.0Silicon Valley 4.0
10 Network is theknowledge
Silicon Valley 4.0Silicon Valley 4.0
Ten Ways It’s Not Going toHappen
Ten Ways It’s Not Going toHappen
1 Not going to be a proventeam
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
2 Not going to be a proventechnology
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
3 Not going to be a provenbusiness model
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
4 Not going to raise $50million in capital
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
5 Not going to generatecompetitive term sheets
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
6 Not going to be embracedby today’s “experts”
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
7 Not going to be created byan existing company
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
8 Not going to be sold toexpected customers
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
9 Not going to be used inanticipated ways
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
10 Not going to happen ifnobody tries
Ten Ways It’s Not Going toHappenTen Ways It’s Not Going toHappen
Guy KawasakiCEO, Garage Technology Ventures
Lessons from the Trenches:Ten Things Students Should LearnBefore They Graduate
1
Lessons from the TrenchesLessons from the Trenches
Ideas are easy,implementation is hard
2
Lessons from the TrenchesLessons from the Trenches
More OB, less Finance
3 Do the math
Lessons from the TrenchesLessons from the Trenches
• Costs $1• Sell for $5• Margin = 20%
Lessons from the TrenchesLessons from the Trenches
4 Everyone is a “productmanager”
Lessons from the TrenchesLessons from the Trenches
Power
Responsibility
CurriculumIncomingstudents
X
Lessons from the TrenchesLessons from the Trenches
Kona
5 • One-page emails• Twelve slides• One hour meetings
Lessons from the TrenchesLessons from the Trenches
Be brief
6 Make your boss lookgood
Lessons from the TrenchesLessons from the Trenches
7 Life’s a niche
Lessons from the TrenchesLessons from the Trenches
Unique abilityto provide
Value to customer
Stupid
Price
X
Lessons from the TrenchesLessons from the Trenches
Dotcom
8 A players hire A players
Lessons from the TrenchesLessons from the Trenches
B players hire C players
9
Lessons from the TrenchesLessons from the Trenches
Don’t ask anyone to dosomething you wouldn’tdo
01 Right and wrong areabsolute
Lessons from the TrenchesLessons from the Trenches
11 Karma counts
Lessons from the TrenchesLessons from the Trenches
Overview of GarageOverview of Garage
� Boutique investment bank
� Three services
� Venture capital� Private placement� M & A advisory
� Capital for innovation
� Venture� Intellectual� Relationship
Garage CaliforniaEntrepreneurs FundGarage CaliforniaEntrepreneurs Fund
� $10M funded by CalPERS
� Focus on companies emerging from
California universities and research labs
� Sectors: software, communications, and
infrastructure
� Garage will lead or co-invest
� Typical investment: $250K seed stage, up to
$400-500K total over time
For copies of this presentation:[email protected]