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Venture Capital  2.0 : The [Global]  Lean VC Dave McClure http://500startups.com   ( @DaveMcClure )  Telegraph Start-Up 100 – March 2011 Re-Inventing Venture Capital Investing through Innovation, Incubation, & Iteration http://slideshare.net/dmc500hats
Changes, Oh. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Dave McClure: Bio ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
500 Startups Seed Fund Mountain View, CA – Founded 2010 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Read  Geoffrey Miller Sex  +  Evolution  +  Consumer Mktg  =  Awesome Sauce
Other Great  Shit. Psychology  +  Comics
Platforms 2.0 Search, Social, Mobile
Web 2.0 :  Good  Times . ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],R.I.P. *BAD* TIMES
Platform Viability Successful Platforms  have 3 Things: 1)  Features 2)  Users 3)  Money Users   . .  Money Features Growth Profit Profitable Growth Nirvana
Distribution Platforms ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Web 2.0 Business Model:  KISS  (“Keep It Simple, Stupid”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Startup Incubators  Lots of Hot, Cool, Web 2.0! (+ lots of  FAIL .)
Incubator 2.0: Fast, Cheap, FAIL ,[object Object],[object Object],[object Object]
Incubator 2.0:  Education, Collaboration, Iteration ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
fbFund REV ,[object Object],[object Object],[object Object],[object Object]
Venture Capital 2.0 (smaller, faster, better) Venture Capital 1.0  “ Super” Angel  (aka Micro-VC)
Silicon Valley Investor Ecosystem True Ventures First Round Capital Benchmark Accel SoftTech (Clavier) Felicis (Senkut) SV Angel (Conway) White Bear (GRRR!!) Angels &  Incubators ($0-10M) “ Seed” Funds  ($10-50M) VC Funds  ($50-250M) VC Funds  (>$250M) Y-Combinator TechStars
Venture Capital: Still Relevant? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
More & Smaller Acquisitions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],* Mint acquired by Intuit in Sept 2009 for $170M
Investor Metrics:  “Super Angel”  ->  Lean VC Not  “ Spray & Pray ”, but rather “ Quantitative, Incremental, Selective Follow-on ” Investing.  (Product, Market, Revenue.)
“ Lean Investor” Model ,[object Object],[object Object],[object Object],[object Object]
Investment #1: Incubate (“Product”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment #2: Seed (“Market”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment #3: Venture (“Revenue”) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Summary ,[object Object],[object Object],[object Object],[object Object],[object Object]
Global  Trends ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Local  Hacks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[ Don’t  Pitch  Me, Bro. ] Seriously :  Don’t .  Fuckin g. . Pitch M e . (and  don’t email m e either, cuz i won’t read it)
Don’t Pitch Me, Bro. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Email
Questions? ,[object Object],[object Object],[object Object],[object Object]

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The Lean VC, Global Edition (March 2011, London)

  • 1. Venture Capital 2.0 : The [Global] Lean VC Dave McClure http://500startups.com ( @DaveMcClure ) Telegraph Start-Up 100 – March 2011 Re-Inventing Venture Capital Investing through Innovation, Incubation, & Iteration http://slideshare.net/dmc500hats
  • 2.
  • 3.
  • 4.
  • 5. Read Geoffrey Miller Sex + Evolution + Consumer Mktg = Awesome Sauce
  • 6. Other Great Shit. Psychology + Comics
  • 7. Platforms 2.0 Search, Social, Mobile
  • 8.
  • 9. Platform Viability Successful Platforms have 3 Things: 1) Features 2) Users 3) Money Users . . Money Features Growth Profit Profitable Growth Nirvana
  • 10.
  • 11.
  • 12. Startup Incubators Lots of Hot, Cool, Web 2.0! (+ lots of FAIL .)
  • 13.
  • 14.
  • 15.
  • 16. Venture Capital 2.0 (smaller, faster, better) Venture Capital 1.0 “ Super” Angel (aka Micro-VC)
  • 17. Silicon Valley Investor Ecosystem True Ventures First Round Capital Benchmark Accel SoftTech (Clavier) Felicis (Senkut) SV Angel (Conway) White Bear (GRRR!!) Angels & Incubators ($0-10M) “ Seed” Funds ($10-50M) VC Funds ($50-250M) VC Funds (>$250M) Y-Combinator TechStars
  • 18.
  • 19.
  • 20. Investor Metrics: “Super Angel” -> Lean VC Not “ Spray & Pray ”, but rather “ Quantitative, Incremental, Selective Follow-on ” Investing. (Product, Market, Revenue.)
  • 21.
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  • 28. [ Don’t Pitch Me, Bro. ] Seriously : Don’t . Fuckin g. . Pitch M e . (and don’t email m e either, cuz i won’t read it)
  • 29.
  • 30.