Category: Books
After writing Do More Faster with David Cohen, I have deep appreciation for the effort involved in writing a book. After reading a bunch of entrepreneurship books, I’ve decided there are three categories: (a) autobiographies, (b) consultant roadmaps, and (c) practitioner stories. I like the practitioner stories best, followed closely by autobiographies. I do not like consultant roadmaps and have decided I won’t read them anymore.
Bill Draper (officially William H. Draper III) has written a gem called The Startup Game. It’s a mix of practitioner stories with some autobiography mixed in. Draper is one of the original VCs – his father (William Henry Draper, Jr.) started Draper Gaither & Anderson, one of the first VC firms on the west coast that coincidentally was the first firm to use a limited partner (LP structure). His son, Tim Draper, started Draper Fisher Jurvetson. And William III started several firms, including Draper & Johnson, Sutter Hill Ventures, Draper Richards, and Draper International. Yup – lots of Drapers, but they’ve all collectively accomplished some amazing things.
In The Startup Game, Draper talks about the early days of venture capital, the creation and evolution of the industry, and many of the early players whose names are well known to any VC insider. Along the way he tells stories about companies he’s funded (or missed funding) and generally teaches at least one lesson in each story. This isn’t an autobiography – while he mixes in lots of biographical information, the chronology is self-admittedly random and he bounces between stories of his father and son along with his sojourn to Washington DC which he calls his lost years.
SF Gate published an interview on Sunday titled William Draper, veteran venture investor, reflects and SiliconValley.com wrote a review titled Venture capitalist Bill Draper adds ‘author’ to his résumé with ‘The Startup Game. Both capture the spirit of the book which I view as a must read for any practicing or aspiring VC or entrepreneur.
I spent the day in Seattle yesterday, starting off with an awesome early morning run along the ocean near downtown and ending the day walking back with some folks from a bar at UW in a freak Seattle snowstorm.
I spent time with four different companies yesterday – two that I’m an investor in (BigDoor and Gist) and then two others that I’m working on interesting things with. As I went from meeting to meeting, I reflected on the tempo of the Seattle entrepreneurial community and how it feels like it has really come alive in the past few years.
I’ve been coming to Seattle for a long time. In the mid-1980’s when I was an undergraduate at MIT, Microsoft and Oracle were two of the hot companies at the time who were aggressively recruiting at MIT. For a brief moment in time I thought about seeing if I could get a job at Microsoft in 1986 but I was already working on my first company and was about to start a master’s program. That moment passed, but in 1990 when my first company was growing, we joined the very first Microsoft Solution Provider program (created by Dawayne Walker if I remember correctly) and as a result started coming to Seattle regularly.
Over the years I’ve made plenty of investments in companies here. Today it’s a regular part of my monthly circuit due to investments in BigDoor, Gist, Impinj, and activity around TechStars. I like it here a lot – the food scene appeals to me, the city is manageable, the people are smart and fun, and every now and then you get totally bizarre weather like we had last night.
I’m going to head out for another run this morning before heading to LA for a few days and as I’ve tried to wake myself up from a very late night, I find myself reflecting on something I said at the UW lecture I gave last night at the MBA school. Among other things, I talked about why I do what I do. My answer was pretty simple – “because I love working with entrepreneurs and helping create new companies.” But I could have just said “because I love what I do.” Because I do. And, bleary eyed at 5:51am, it’s really satisfying to both write those words and ponder that thought.
After my talk, a few of the folks in the audience asked me in different ways the question of “what should I do.” Some of them presented me with two options; others presented with with a more open ended question. The thought that guided my answer was “do what you love.” It seems so simple and yet is often so hard. But, as a guiding principle, I don’t know of any better one.
David Cohen (TechStars CEO and co-author of Do More Faster) is blogging a chapter a week from the book on the TechStars web site. The first chapter he’s put up is “Do More Faster” (by David).
TechStars is currently accepting applications for the Boston program in the spring of 2011. Do More Faster and go apply now if you’ve been thinking about it.
Today Howard Lindzon takes on Jeff Clavier of SoftTech VC in his Do More Faster interview series. Jeff has been an awesome TechStars mentor since the very first Boulder program in 2007, has made a number of investments in TechStars companies, and has co-invested with me and my partners at Foundry Group in several companies, including SendGrid, Gnip, and Next Big Sound.
Jeff has been Doing More Faster since I met him – he’s one of the most prolific investors in consumer Internet companies and his firm SoftTech VC was the original “micro-VC firm.” He also has thought hard about how to Do More Faster by “decoupling value provided from time spent”, something that is key for anyone who is as an active investor as Jeff is.
Future Shock by Alvin Toffler was published 40 years ago. I must have read it around the time I turned 10. As a kid my parents fed me a steady diet of books that were more than I was ready for at the time, but I gobbled them down anyway. I vaguely recall Future Shock being one of them.
A month ago I decided to read it again. Ironically, it’s not available on the Kindle so I had to buy (and lug around) a paperback copy of it. The one I have appears to be on it’s 62nd printing according to the title page (that’s a lot of books.) I read it over the course of a few days – it’s long as has some sections that require slower reading to make sure you get the nuance.
I love to read “old science fiction” – stuff written in the 1950’s – 1980’s about the time frame from 2010 – 2040. It hadn’t occurred to me that “old futurism” would be equally interesting, satisfying, and enlightening. Future Shock did not disappoint me – it was stunningly interesting, even 40 years later.
Like old science fiction, Toffler got some things exactly right and others completely wrong. Two of the broad themes that were right on target were the “super industrial society” (his phrase for the information age) and what I started calling “mass disposability” as a proxy for the notion of the consumeration of everything. I was completely fascinated by both of these (which comprised about a third of the book), especially with his prediction that, as humans, we wouldn’t know how to deal with the changes that were coming and they’d create meaningful societal disruptions.
There’s plenty of hippy dippy early 1970’s in here (separation of birth mothers from parents, communes as next generation societies, and temporary marriages) that appeared for a little while before vanishing. But much of the societal shifts Toffler predicts either materialized in some form or evolved into something more sustainable.
The last section of the book is titled “Strategies for Survival.” When I read it, I tried to imagine being 45 years old in 1970 and projecting out to 2010. For some reason, I got a little freaked out by this as I began imagining how different today’s world is for someone who is 85 today. Then, I lined this notion up next to the world of a 5 year old today (for example, my niece) and tried to imagine what her world would be like in 80 years. I couldn’t.
If you are looking for something chewy to read over the holidays that will make you think, this is for you.
If you go to Feld Thoughts, TechStars, or David Cohen’s web site, you’ll notice a little red tab on the right side of the browser that says “Marginize”. If you want a chance to win a copy of Do More Faster, click it!
Marginize is one of the TechStars Boston 2010 companies. Since their soft launch at the end of the TechStars program a few months ago, their users of the Marginize browser add-on have used it on over 150,000 sites. They’ve just launched their new publisher widget and are on a number of sites, including Boston.com and Xconomy. Marginize enables an additional social interaction layer on existing web sites, including things like checkins, shares, comments and badges.
For example, see who has earned the Do More Faster badge by visiting one of Feld Thoughts, TechStars, or David Cohen’s web site. Our friends at Marginize will choose three random winners from the full group of Do More Faster badge holders on Wednesday night, so you time to check in is short. All you need to do to earn the badge is take a Marginize action on one of the three sites (write, reply, like, or check in.) Since you use your Twitter, Facebook, or Buzz credentials to sign in, the Marginize folks will message the winners directly to coordinate getting them a book.
If you don’t win, you can still buy the book. I’m quite confident Wiley will print as many as y’all want and – well – the Kindle version of Do More Faster doesn’t actually require printing.
Today’s interview on Do More Faster is Greg Gottesman, a managing director at Madrona Venture Group in Seattle. Greg was instrumental in bring TechStars to Seattle and has been a great friend and co-investor over the years. Among other things, Greg teaches at University of Washington and recently built a class around Do More Faster.
Greg’s chapter is on the characteristics that define an innovative startup culture. He’s also part of a firm that just celebrated its 15th anniversary with a fun roast reflecting on their successes, failures, and missed deals.
Next up in the StockTwits.TV Do More Faster Interview series is Ben Huh, the founder/CEO of Pet Holdings, better known as the guys who do ICanHasCheezburger, Fail Blog, and about 50 other crazy and hilarious sites.
I was introduced to Ben several years ago by my friend Micah Baldwin (Graphic.ly CEO, TechStars Mentor, contributor to Do More Faster, and hilarious dude in his own right.) I care deeply about community and have learned a lot about it from both Micah and Ben. Ben was pretty serious sounding in this interview, so if you need a good end of the work week office laugh, one follows. But – listen to the interview with Ben – you’ll learn something.
see more Monday Through Friday
Our friend Howard Lindzon (StockTwits CEO, TechStars Mentor and Investor) did an interview series with a number of the contributors to our book Do More Faster. I’ll post one each day or so over the next week. They are all short (15 minutes or so). Howard starts the series with an interview with me and David Cohen (TechStars CEO and co-author with me of Do More Faster.)
This interview happens via Skype when David and I were at my house in Keystone (where we came up with the idea for the book) during the recent TechStars Managing Director retreat. In NY starting tomorrow is the annual TechStars Alumni Retreat (gang – sorry I’ll miss y’all) followed by TechStars for a Day for folks that have applied to the New York program.
If you are an entrepreneur I hope this stuff inspires and informs you. Or, in the worst case, occasionally amuses you (if you listen carefully around minute 9, you’ll learn about my “fuck me once” rule along with why I think work-life balance is important.) Enjoy.