02Stories from Sand Hill Road and KPCB
After our first couple of days hustling our way into startups, we had the good fortune to meet Randy Komisar at Kleiner Perkins’ office on Sand Hill Road. We’d hit the big time: from the sleek, exposed-beam ceilings to the plush leather conference room chairs - we’re not in startup offices anymore, Toto.
Adam and I are big fans of The Monk and the Riddle and were completely nervous and practically giddy to meet the author/ venture capitalist in person (Adam switched chairs 3 times). Randy came in and wasted no time welcoming us as old friends - quite generous of him, as our faces couldn’t mask our excitement in meeting our role-model.
Randy’s main message? He’s investing in disruptive technology… not business models.
- KPCB looks for deals that need money to grow. He warns that big VC firms don’t give funding so entrepreneurs can “test” their idea.
- Opportunities are in REAL innovation. He explained that he’s shyed away from Web 2.0 businesses, because the consumer web is not a game-changer. Mr. Komisar would prefer green businesses to social media platforms because there is more opportunity for dynamic change in the cleantech space.
- Overall, Randy picks companies based on their impact and the usefulness of their product.
Randy, like many great entrepreneurs, is looking to change the world.
So, what advice can Mr. Komisar give to student entrepreneurs?
- Go to work for a management team that you can learn from… it will come in handy when you you’re running your own company, so you will “know what you’re not doing”
- Find an opportunity where you will have a mentor (someone you can learn from and who is interested in your personal growth)
- Pick a company that has “Best Practices” — this falls back under #1. You want to see how successful companies ‘should’ run.
- You want to work in a group where you’re not “siloed.” If you have the flexibility to work with different teams on different projects, you’ll learn more and constantly be challenged.
- Most importantly, pick a company where you can relate to the product or service. Having a passion for your business is critical to your success and will provide you with a thrill everyday.
Exhausted after flying home on the red-eye but happy to be back in sunny Florida!
Though our trip has come to a close - expect updates as we post the rest of our notes, pictures, and videos from Stanford EWeek!
Mint.com talk was a great “story of a startup.” Amazed to hear that it was only 2.5 years from idea to exit. I’m sure they’ll continue to offer great services now that they’re part of the Intuit family.
Most revealing part was when he announced the goal of Mint.com was to increase the U.S. savings rate… and with the help of the recession, they did.
They don’t have cubicles at Zazzle. Instead, they divide their workspaces with customizable screens (so cool)!
Monday, Feb 22
A montage of the Social Media panel. It was a relief to hear that even the “experts” are still working it out.
Biggest hint for social media? Keep trying new things to see what works!
@ Stanford’s d.school, getting ready to hear from Dr. Rodrigo Jordan on Leading High Performance Teams in Dynamic Environments.
Dr. Jordan stressed the importance of academic, business, social, and expedition experiences.
Interview with Gator Grad Phil Freo about his recent move to the Bay Area to join a new startup …
