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@paulsingh # 
THE BUSINESS OF 
(TECH) STARTUPS 
! 
THE (GROWING) INTERSECTION OF VENTURE 
CAPITAL, HIGH-GROWTH TECH COMPAN...
@paulsingh # 
500 STARTUPS
@paulsingh # 
A (R)EVOLUTION IN THINKING
@paulsingh #iSummit2014 
EARLY STAGE 
STARTUPS 
HAVE CHANGED
@paulsingh #iSummit2014 
CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING 
STARTUP COSTS 
LOWER THAN EVER BUT SCALING ST...
@paulsingh #iSummit2014 
WEB GETS BIGGER. 
WORLD GETS SMALLER.
@paulsingh #iSummit2014 
TRACTION IS THE NEW 
INTELLECTUAL PROPERTY PLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING ...
@paulsingh #iSummit2014 
CAPITAL 
INCREASINGLY 
COMMODITIZED 
RISE OF THE ANGELS, YO!
@paulsingh #iSummit2014 
NEW REALITY: 
MONEY FOLLOWS 
FOUNDERS 
RISE OF THE ENTREPRENEURS, YO!
@paulsingh # 
SIGNALS ARE 
EVERYWHERE 
BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
@paulsingh # 
SIGNALS ARE 
EVERYWHERE 
BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
@paulsingh # 
TRANSPARENCY IS 
SIGNALS ARE 
EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
@paulsingh # 
WALL STREET 
BEAT US TO IT
@paulsingh #
@paulsingh # 
UBS PROPRIETARY 
SATELLITE PARKING LOT 
FILL RATE 
POINTS TO AN 
INTERESTING CADENCE 
INTRA-QUARTER AND 
POT...
@paulsingh #
@paulsingh # 
“ 
TWICE A WEEK A SMALL 
HELICOPTER CIRCLES 
OVER CUSHING’S TANK 
FARMS ON AN 
INDUSTRY SPYING 
MISSION
@paulsingh # 
WALL STREET 
ISN’T ALONE 
THESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO 
FERTILIZATION LENDING, PAYDA...
@paulsingh # 
IT TURNS OUT, 
WE CAN DO IT, TOO SURPRISE!
@paulsingh # 
+ “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
@paulsingh # 
WE CAN DO IT, TOO.
@paulsingh # 
WE CAN DO IT, TOO.
@paulsingh # 
WE’RE DOING IT, TOO.
@paulsingh #
@paulsingh # 
VENTURE CAPITAL IS 
OPEN TO ATTACK BY 
DISRUPTIVE NEW 
BUSINESS MODELS AND 
TECHNOLOGY. 
“ 
-- NAVAL RAVIKAN...
@paulsingh # 
Hubble 
more details: hubble.disruption.vc
@paulsingh # 
EARLY STAGE VC 
IS CHANGING 
HAS CHANGED
@paulsingh # 
STATE OF THE ART IN EARLY 
STAGE INVESTING IS NOT 
VERY SOPHISTICATED
@paulsingh # 
UNBUNDLING OF 
ADVICE, CONTROL 
AND MONEY
@paulsingh # 
USED TO BE ABOUT 
CAPITAL, DEALFLOW 
AND JUDGEMENT 
TODAY, IT’S ABOUT ACCESS.
@paulsingh #
@paulsingh # 
INCREASINGLY ABOUT 
DEAL SELECTION, 
NOT DEAL SOURCING. 
IT’S 2014, YO.
@paulsingh # 
Hubble 
more details: hubble.disruption.vc
@paulsingh # 
(500) CHECKLIST 
Product solves a problem for a specific target customer 
Capital-efficient businesses - ope...
@paulsingh # 
(NEW) FINANCINGS 
Standardized terms 
No fixed amounts, no closings, no leads 
Continuous, not discrete roun...
@paulsingh # 
THE FIRST CHECK SHOULD 
BE SMALL AND FAST 
DOUBLE DOWN HEAVY IF THE COMPANY SURVIVES INTO THE NEXT ROUND
@paulsingh #iSummit2014 
RISK AND 
UNCERTAINTY ARE 
NOT THE SAME
@paulsingh # 
THE BUSINESS OF INVESTING 
IS ABOUT CHOOSING THE 
LEAST-WORST OPPORTUNITY 
NOT TRYING TO PREDICT THE NEXT GO...
@paulsingh # 
ECONOMIC 
DEVELOPMENT 
HAS CHANGED
@paulsingh # 
THE AGE OF THE 
INDUSTRIAL CITY 
IS OVER
@paulsingh # 
NOW POSSIBLE TO BUILD 
BILLION DOLLAR 
COMPANIES IN T-SHIRTS 
FROM A COUCH
@paulsingh # 
FROM ANYWHERE*
@paulsingh # 
MORE THAN TRADITIONAL INDUSTRIES, 
KNOWLEDGE ECONOMY HAS AN INHERENT 
TENDENCY TOWARDS GEOGRAPHIC 
AGGLOMERA...
@paulsingh # 
NEAR PERFECT 
CORRELATION BETWEEN 
URBANIZATION AND 
PROSPERITY
@paulsingh # 
NEAR PERFECT CORRELATION 
BETWEEN PRESENCE OF SMALL 
FIRMS AND THE LATER 
GROWTH OF A REGION*
@paulsingh # 
TECH COMPANIES WILL 
NEVER CREATE THE 
MAJORITY OF JOBS
@paulsingh # 
TECH COMPANIES HAVE A 
DISPROPORTIONATELY 
POSITIVE EFFECT ON THE 
ECONOMY
@paulsingh # 
WHAT HAPPENS IN THE TECH 
SECTOR DETERMINES THE 
SALARY OF MOST PEOPLE, 
WHETHER THEY WORK IN 
TECH OR NOT
@paulsingh # 
“ 
ALTHOUGH JOBS IN LOCAL SERVICES 
CONSTITUTE THE VAST MAJORITY OF JOBS, 
THEY ARE THE 
ECONOMIC GROWTH. 
-...
@paulsingh # 
PROXIMITY IS 
VALUABLE
@paulsingh # 
MODERN ECONOMIC DEV 
! 
PEOPLE > STRUCTURES
@paulsingh # 
INVESTORS: 
INVEST OUTSIDE YOUR 
REGION, BRING THE BEST 
FOUNDERS TO YOUR CITY
@paulsingh # 
HUGE OPPORTUNITY 
AT THE POST-SEED, 
PRE-A LEVEL
@paulsingh #iSummit2014 
INVESTORS: 
INVEST OUTSIDE YOUR 
REGION, BRING THE BEST 
FOUNDERS TO YOUR CITY
@paulsingh #
@paulsingh #
@paulsingh #
@paulsingh #
@paulsingh # 
BY ITS NATURE, THE 
INTERNET UNDERMINES 
ANYONE WHOSE STATUS 
DEPENDS ON 
PRIVILEGED ACCESS TO 
INFORMATION....
@paulsingh # 
THE PRIVATE MARKET IS 
BECOMING MORE 
ACCESSIBLE.
@paulsingh # 
THE PRIVATE MARKET IS 
BECOMING MORE 
TRANSPARENT.
@paulsingh # 
Demo Day Videos ⟹ livestream.com/500startups 
Sample Pitch Decks ⟹ slideshare.net/500startups 
Venture Capit...
@paulsingh # 
THE PRIVATE MARKET IS 
BECOMING MORE 
EFFICIENT.
@paulsingh # 
YOUR KEY TAKEAWAYS 
Focus on Traction. 
Learn to Communicate and Inspire.
@paulsingh # ALSO... 
Distribution > Product 
Tactics > Strategy 
Notability > Credibility 
Get on AngelList 
Raise 12-18+...
@paulsingh # 
TECHNOLOGY IS THE 
FUNDAMENTAL DRIVER OF 
GROWTH IN THE 
INDUSTRIALIZED WORLD
@paulsingh # 
THE BUSINESS OF 
(TECH) STARTUPS 
THE (GROWING) INTERSECTION OF VENTURE 
CAPITAL, HIGH-GROWTH TECH COMPANIES...
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The Business of (Tech) Startups - iSummit Orlando - Sept 2014

Slides for my talk at the Grand Ballroom in Orlando, FL.

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The Business of (Tech) Startups - iSummit Orlando - Sept 2014

  1. @paulsingh # THE BUSINESS OF (TECH) STARTUPS ! THE (GROWING) INTERSECTION OF VENTURE CAPITAL, HIGH-GROWTH TECH COMPANIES AND ECONOMIC DEVELOPMENT
  2. @paulsingh # 500 STARTUPS
  3. @paulsingh # A (R)EVOLUTION IN THINKING
  4. @paulsingh #iSummit2014 EARLY STAGE STARTUPS HAVE CHANGED
  5. @paulsingh #iSummit2014 CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING STARTUP COSTS LOWER THAN EVER BUT SCALING STILL COSTS MONEY
  6. @paulsingh #iSummit2014 WEB GETS BIGGER. WORLD GETS SMALLER.
  7. @paulsingh #iSummit2014 TRACTION IS THE NEW INTELLECTUAL PROPERTY PLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE. NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
  8. @paulsingh #iSummit2014 CAPITAL INCREASINGLY COMMODITIZED RISE OF THE ANGELS, YO!
  9. @paulsingh #iSummit2014 NEW REALITY: MONEY FOLLOWS FOUNDERS RISE OF THE ENTREPRENEURS, YO!
  10. @paulsingh # SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  11. @paulsingh # SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  12. @paulsingh # TRANSPARENCY IS SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  13. @paulsingh # WALL STREET BEAT US TO IT
  14. @paulsingh #
  15. @paulsingh # UBS PROPRIETARY SATELLITE PARKING LOT FILL RATE POINTS TO AN INTERESTING CADENCE INTRA-QUARTER AND POTENTIAL UPSIDE TO OUR VIEW. “
  16. @paulsingh #
  17. @paulsingh # “ TWICE A WEEK A SMALL HELICOPTER CIRCLES OVER CUSHING’S TANK FARMS ON AN INDUSTRY SPYING MISSION
  18. @paulsingh # WALL STREET ISN’T ALONE THESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO FERTILIZATION LENDING, PAYDAY LOANS, SUBPRIME AUTO LENDING, HOME/PERSONAL/AUTO INSURANCE AND MORE.
  19. @paulsingh # IT TURNS OUT, WE CAN DO IT, TOO SURPRISE!
  20. @paulsingh # + “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
  21. @paulsingh # WE CAN DO IT, TOO.
  22. @paulsingh # WE CAN DO IT, TOO.
  23. @paulsingh # WE’RE DOING IT, TOO.
  24. @paulsingh #
  25. @paulsingh # VENTURE CAPITAL IS OPEN TO ATTACK BY DISRUPTIVE NEW BUSINESS MODELS AND TECHNOLOGY. “ -- NAVAL RAVIKANT (@naval)
  26. @paulsingh # Hubble more details: hubble.disruption.vc
  27. @paulsingh # EARLY STAGE VC IS CHANGING HAS CHANGED
  28. @paulsingh # STATE OF THE ART IN EARLY STAGE INVESTING IS NOT VERY SOPHISTICATED
  29. @paulsingh # UNBUNDLING OF ADVICE, CONTROL AND MONEY
  30. @paulsingh # USED TO BE ABOUT CAPITAL, DEALFLOW AND JUDGEMENT TODAY, IT’S ABOUT ACCESS.
  31. @paulsingh #
  32. @paulsingh # INCREASINGLY ABOUT DEAL SELECTION, NOT DEAL SOURCING. IT’S 2014, YO.
  33. @paulsingh # Hubble more details: hubble.disruption.vc
  34. @paulsingh # (500) CHECKLIST Product solves a problem for a specific target customer Capital-efficient businesses - operational @ <$1M funding Primarily internet-based distribution - search, social, mobile, local Simple revenue models - transactions, subscriptions or affiliate Functional prototype before investment (or previous success) Small but measurable usage - some customers, early revenue Small but cross-functional team - engineer, design/UX, marketing
  35. @paulsingh # (NEW) FINANCINGS Standardized terms No fixed amounts, no closings, no leads Continuous, not discrete rounds Prices beginning to float No Board seats at the earliest stage Herd mentality and oversubscriptions
  36. @paulsingh # THE FIRST CHECK SHOULD BE SMALL AND FAST DOUBLE DOWN HEAVY IF THE COMPANY SURVIVES INTO THE NEXT ROUND
  37. @paulsingh #iSummit2014 RISK AND UNCERTAINTY ARE NOT THE SAME
  38. @paulsingh # THE BUSINESS OF INVESTING IS ABOUT CHOOSING THE LEAST-WORST OPPORTUNITY NOT TRYING TO PREDICT THE NEXT GOOGLE, FACEBOOK OR LINKEDIN.
  39. @paulsingh # ECONOMIC DEVELOPMENT HAS CHANGED
  40. @paulsingh # THE AGE OF THE INDUSTRIAL CITY IS OVER
  41. @paulsingh # NOW POSSIBLE TO BUILD BILLION DOLLAR COMPANIES IN T-SHIRTS FROM A COUCH
  42. @paulsingh # FROM ANYWHERE*
  43. @paulsingh # MORE THAN TRADITIONAL INDUSTRIES, KNOWLEDGE ECONOMY HAS AN INHERENT TENDENCY TOWARDS GEOGRAPHIC AGGLOMERATION ADVANTAGES MATTER, AND THE FUTURE DEPENDS HEAVILY ON THE PAST. ! THE SUCCESS OF A CITY FOSTERS MORE SUCCESS, AS COMMUNITIES THAT CAN ATTRACT SKILLED WORKERS AND GOOD JOBS TEND TO ATTRACT EVEN MORE. “ -- ENRICO MORETTI
  44. @paulsingh # NEAR PERFECT CORRELATION BETWEEN URBANIZATION AND PROSPERITY
  45. @paulsingh # NEAR PERFECT CORRELATION BETWEEN PRESENCE OF SMALL FIRMS AND THE LATER GROWTH OF A REGION*
  46. @paulsingh # TECH COMPANIES WILL NEVER CREATE THE MAJORITY OF JOBS
  47. @paulsingh # TECH COMPANIES HAVE A DISPROPORTIONATELY POSITIVE EFFECT ON THE ECONOMY
  48. @paulsingh # WHAT HAPPENS IN THE TECH SECTOR DETERMINES THE SALARY OF MOST PEOPLE, WHETHER THEY WORK IN TECH OR NOT
  49. @paulsingh # “ ALTHOUGH JOBS IN LOCAL SERVICES CONSTITUTE THE VAST MAJORITY OF JOBS, THEY ARE THE ECONOMIC GROWTH. -- ENRICO MORETTI
  50. @paulsingh # PROXIMITY IS VALUABLE
  51. @paulsingh # MODERN ECONOMIC DEV ! PEOPLE > STRUCTURES
  52. @paulsingh # INVESTORS: INVEST OUTSIDE YOUR REGION, BRING THE BEST FOUNDERS TO YOUR CITY
  53. @paulsingh # HUGE OPPORTUNITY AT THE POST-SEED, PRE-A LEVEL
  54. @paulsingh #iSummit2014 INVESTORS: INVEST OUTSIDE YOUR REGION, BRING THE BEST FOUNDERS TO YOUR CITY
  55. @paulsingh #
  56. @paulsingh #
  57. @paulsingh #
  58. @paulsingh #
  59. @paulsingh # BY ITS NATURE, THE INTERNET UNDERMINES ANYONE WHOSE STATUS DEPENDS ON PRIVILEGED ACCESS TO INFORMATION. “ -- MICHAEL LEWIS
  60. @paulsingh # THE PRIVATE MARKET IS BECOMING MORE ACCESSIBLE.
  61. @paulsingh # THE PRIVATE MARKET IS BECOMING MORE TRANSPARENT.
  62. @paulsingh # Demo Day Videos ⟹ livestream.com/500startups Sample Pitch Decks ⟹ slideshare.net/500startups Venture Capital 101 ⟹ venturehacks.com/archives Investor Thoughts: Brad Feld ⟹ feld.com Fred Wilson ⟹ avc.com Chris Dixon ⟹ cdixon.org Mark Suster ⟹ bothsidesofthetable.com angel.co/valuations and angel.co/salaries
  63. @paulsingh # THE PRIVATE MARKET IS BECOMING MORE EFFICIENT.
  64. @paulsingh # YOUR KEY TAKEAWAYS Focus on Traction. Learn to Communicate and Inspire.
  65. @paulsingh # ALSO... Distribution > Product Tactics > Strategy Notability > Credibility Get on AngelList Raise 12-18+ months of funding Learn the basics of VC economics Don’t confuse due diligence with progress & probability... Shameless plug: disruption.vc
  66. @paulsingh # TECHNOLOGY IS THE FUNDAMENTAL DRIVER OF GROWTH IN THE INDUSTRIALIZED WORLD
  67. @paulsingh # THE BUSINESS OF (TECH) STARTUPS THE (GROWING) INTERSECTION OF VENTURE CAPITAL, HIGH-GROWTH TECH COMPANIES AND ECONOMIC DEVELOPMENT LEARN MORE: disruption.vc

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