Day #22-23: Rocky goes Venture

Venture Deals is a must for anyone looking to play the startup game.

I read the book Venture Deals on Sunday and we had five talks on Monday by people from venture capital firms, Udemy and Instacart.

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Monday was packed with different speakers, which was a good change, after spending the whole Sunday reading the book Venture Deals (which I do recommend a lot).

First, we had Paul Mattucci from USVP venture firm tell us how we would have to change to be able to feed 10 billion people by 2040. We will do it not by producing more food, but by consuming the current food in a better way.

Then it was time for Stephen McCurry from Udemy tell us how they made such a marketplace work. He also empathised that we should see bigger companies as a opportunity for partnership, not just competition!

After lunch, Navi Radjou, co-author of Frugal Innovation, showed us how emerging markets teach us to use what is abundant to create what is scarce. He also made us ask how can we reuse every kind of waste and turn it into gold?

Later, Max Mullen, co-founder of Instacart, told us to talk to our customers every day, as they have all the answers we are looking for. Interesting idea from him was that having no haters might be a bad thing as people might just not car about you. He ended his talk by saying that once you focus on your customers, everything else will be great!

Lastly, Andy Tang was intrviewing Richard Liu from Morningside Ventures, a venture firm that was first to invest into Xiaomi. He somewhat struggled talking in English, but the most important thing I got from him was that most entrepreneurs apparently have no commitment and don’t really believe in their idea. This is also why most startups fail.

We ended our night by watching Rocky IV, which apparently is one of Tim’s favourite movies. And tomorrow we’ll be getting ready for the survival week, starting this Wednesday.