This Entrepreneurs Unplugged with Larry Gold is going to be special. If you don’t know Larry Gold, he’s just amazing.
Larry is one of the originals in the Boulder biotech scene, having founded numerous successful companies including NeXagen (acquired by Gilead) and Synergen (acquired by Amgen). He’s been a professor at CU Boulder since 1980 and was the chairman of the Molecular, Cellular and Developmental Biology Department from 1988 to 1992. So – when you think of the evolution of the Boulder startup community around life sciences, Larry has been involved since the beginning.
I’ve gotten to know Larry over the past few years through a few different vectors. He and my dad (Stan Feld) have become friends and my dad participates in Larry’s annual GoldLab Symposium. He and I have spent some 1:1 time together and I’m blown away by how similar some of our values and deeply held beliefs are. In Larry, I’ve definitely found a mentor and someone whose path I can learn from as I get older.
Next week on February 18th, I have the honor of having a conversation with him as a part of the Silicon Flatirons Entrepreneurs Unplugged series. He’ll be telling his story, and with the help of the audience, I’ll explore his background that resulted in a successful career. I encourage you to join us.
David Cohen (Techstars Founder) and I are doing a Google Hangout On Air that is open to anyone on 11/13/13 (what a prime day for something like this). It’s part of a Google Enterprise series on Colorado pioneers driving the local economy and culture. We’ll be talking about Techstars, Colorado, tech, and anything else that comes up.
This came out of a series of interviews with Google recently where we explained why Foundry Group takes venture capital to the cloud with Google Apps and how Techstars assists tomorrow’s entrepreneurs with help from Google Apps.
Come join us! Register here if you want to hangout.
Last week our portfolio company, JumpCloud – who is deep in the DevOps market with their automated cloud server management product – hosted the first annual DevOps conference here in Boulder. It was a huge success – we had over 200 people show up and engage in a full day of deep discussions on DevOps.
We are huge fans of the DevOps movement. Similar to how we got involved in the Agile movement early with our investment in Rally Software, we are long on DevOps with investments in companies such as JumpCloud, VictorOps, SendGrid, Pantheon, Authentic8 and others. We see DevOps instantiating the lean startup culture throughout an organization. DevOps promotes short cycle times, automation, and deep integration across a company with the goal of innovating quicker and more effectively against customers’ needs. In short, we view it as a cultural methodology that increases the odds of success for a company.
The day was fantastic, starting with Raj Bhargava (CEO of JumpCloud) and Paul Ford (SoftLayer) kicking things off with a short discussion about what DevOps is. I was next with a quick discussion framing why DevOps is critical to our companies and their customers. From there, we had presentations by Ryan Martens (CTO of Rally) on learnings from Agile, Nathan Day (Chief Scientist of SoftLayer) on the incredible automation at SoftLayer, and a number of great panels from CEOs, CTOs, and VPs of Engineering of DevOps related companies. Three of our portfolio companies – SendGrid, Mocavo, and Gnip – closed the formal part of the day with case studies on different areas of DevOps.
Later, the full group headed to Bacaro for more casual conversations around DevOps. I ended the night at Walnut Brewery with Raj and a few close friends watching the Red Sox lose game two of the World Series to the Cardinals.
The engagement on the topic of DevOps was really powerful. The questions flowed quickly – it’s clear everyone is struggling with how to define DevOps – what it means, who should be involved in an organization, and how to recruit for it. While the word is quickly becoming entrenched, it’s a new category with a wide range of opportunities.
When Raj came to me several months ago suggesting that we should put on a conference around DevOps for all of the Foundry Group, Techstars, and Bullet Time Ventures companies it was easy to be excited about it. I expected about 50 people to participate – it was amazing to look around the room and see 200 really engaged people. I’m proud of Raj and Paul for putting this on and thankful for all of the effort that our companies made to get there and participate!
An event called Startup Phenomenon is happening In Boulder on 11/13 – 11/15. It gets to the heart of how startup communities are developed and I’d love to have you join me at it. If you register to come, use the code “feldfriends” for $100 off the $995 price.
You may have seen the recent Kauffman Foundation study that ranked Boulder tops among all cities in the U.S. in terms of tech-startup density. That Boulder was number one was interesting, but what’s more exciting is that there are so many emergent startup communities around the United States that it’s now worth ranking them.
Startup Phenomenon is designed to bring attention to these communities, from small towns to large cities, as we explore how this startup phenomenon works. We’ll cover topics including:
On the third day of the conference we will provide a deep look into what’s going on here in Colorado. That Kauffman report of densest startup communities actually had four Colorado cities in the top 10 (Boulder, Ft. Collins, Denver, and Colorado Springs.) And you may have seen that the New York Times recently dubbed Boulder “Silicon Valley for Ad Agencies.”
The speakers list is awesome. As a special treat, I get to interview Jim Collins author of Built to Last, Good to Great, How the Mighty Fall, and Great By Choice who happens to live in Boulder.
This will be a great opportunity for you to bring attention to your work and to learn about the entrepreneurs and investors who have come together around the world to build vibrant, open startup communities.
We’re just under one month until Defrag, and if you’re a startup founder, a VC, and IT exec, or anyone that wants to have their brain stretched, I hope you’ll join me in being there.
The agenda is now about 90% complete (check the google doc for real-time updates) and Eric tells me that he’ll be finalizing everything in the next week or so.
For those of you who attended two years ago, you may remember my “Resistance is Inevitable” talk about the rise of the machines. This year, I’ll be leading two different sessions.
First, Jerry Colonna and I will be having a discussion about the emotional challenges of entrepreneurship. I’ve written about Jerry many times on my blog. He’s a huge resource to entrepreneurs, a great mentor and confidant of mine, and I’m looking forward to a public conversation about some topics near and dear to both of us.
Second, I’ll be having a conversation with Boris Sofman of Anki. Hopefully he’ll bring some toys for us to play with.
For a taste of some of the other topics, ponder:
Add in great WiFi, amazing people, an intimate and welcoming atmosphere, and three days of impact-filled ideas, and you’ll quickly find out why Defrag is one of my favorite events of the year.
If you register before Friday, the code “brad15” will take 15% off of your registration.
See you there!
I’ve been a big supporter of Startup Weekend, locally and nationally, since the very beginning and I’m continuing to do so by both sponsoring and mentoring in the NEXT Boulder program. NEXT by Startup Weekend is a wonderful next step for entrepreneurs looking for feedback on their idea or early business, while heavily leveraging the Lean methodology. Below are the words of Ken Hoff, an up-and-coming leader in the Boulder startup community. As the City Coordinator of the NEXT program, check out what he has to say about why he thinks the program is valuable. Ken can be found at @ken_hoff or firstname.lastname@example.org. Following are Ken’s thoughts on NEXT Boulder.
NEXT Boulder is a 5-week pre-accelerator program, beginning on 10/15. Entrepreneurs will be immersed in the skills and tactics their startup needs and will get consistent advice and feedback from the best mentors in Boulder. Sign up here!
As a recent graduate of the Computer Science department at CU Boulder, I’m really lucky to have found what I want to do for the rest of my life, even if it was only recently. During my senior year, I took “Startup Essentials for Software Engineering” (taught by Zach Nies of Rally Software) and I can confidently say it was the best class I ever took at CU.
We learned how to take an idea and turn it into a company the right way using the Lean Startup process. We learned how to do customer development, conduct empathy interviews, and build a real MVP (not just an alpha version). We learned hands-on, functional, pragmatic skills for building a startup; not high-level theory or “how to write a business plan.” We got off the ground and out of the building right away.
Not everyone gets to have this experience – I was lucky to be a student at the time it was offered. For those of us who aren’t in school, you can try to do it all on you own, but you have to rely on the generosity of mentors to give you their time and their feedback. Accelerators and incubators can offer this, but they require you to have your business already in motion and are difficult to get into.
That’s why when NEXT decided to hold an event in Boulder, I jumped at the chance to help. I want to give entrepreneurs the same awesome resources I had as a student. NEXT can give aspiring entrepreneurs three major tools:
1. A cohesive, comprehensive curriculum on how to build your startup, with clear, pragmatic directions on what steps to take next.
2. The ability to work on your idea – something that you’re vested in and passionate about – and the confidence to take that idea to a competition or accelerator.
NEXT Boulder runs from 10/15 to 11/12, and consists of weekly 3-hour sessions on Tuesday nights at the Silicon Flatirons Center in CU Law. Single founders can sign up, but co-founders are encouraged to attend together.
If you’d like to:
Sponsor NEXT, contact me at email@example.com for more information. It’s a great way to get your product or brand in front of lots of early-stage entrepreneurs and great mentors from Boulder.
Mentor for NEXT, contact me at firstname.lastname@example.org for more information. This is a great chance to give back to the Boulder startup community and see what the next generation of entrepreneurs has to offer!
A big thanks to Brad Feld for his generous donation, as well as Silicon Flatirons Center for the use of their space. NEXT provides entrepreneurs with the right combination of everything they need: skills, feedback, and the motivation to keep it going. I’m really looking forward to seeing a lot of great companies come out of the program!
I spend a lot of time hanging around CU Law School. I know it’s a strange place to find a venture capitalist and entrepreneurs, but it happens to be the epicenter of entrepreneurial activity at CU Boulder. I wrote a chapter about this in my book Startup Communities: Building an Entrepreneurial Ecosystem in Your City explaining why and how CU Law has taken a different approach to the engagement of the of a university and the entrepreneurial community.
Step back and think about it a little. A surprising number of entrepreneurs have legal backgrounds. A legal education is a great grounding in systems thinking, which can be applied to many businesses, especially as their scale up dramatically. And, in a world that needs less lawyers and more entrepreneurs, repurposing some of the brightest non-technical graduate students to be entrepreneurs is a neat idea. See – that’s not so strange.
Phil Weiser, the Dean of the CU Law School, is a good friend. Phil also totally groks entrepreneurship and is aggressively applying it to the vision, the curriculum, and the operations of CU Law. Following are some thoughts of his that recently appeared in an article in the ABA Journal titled Five initiatives that legal education needs.
Just like every other corner of the profession, legal education is grappling with a New Normal that was barely appreciated as recently as four or five years ago.
Even as law schools welcomed incoming classes this year, the mood has changed. And it’s no secret why.
Applications are down nationally for the third year in a row. And larger law firms aresignificantly cutting back on their entry-level hiring. The American Bar Association is also starting to focus on changes to legal education, recently releasing a draft report (PDF) from the Task Force on the Future of Legal Education.
Change is happening, and that’s a good thing.
The upside of today’s New Normal is that law schools have the opportunity to develop a new generation of lawyers who are more purposeful than ever before about how to develop and navigate their careers. These graduates will be legal entrepreneurs. By that, I mean lawyers—whether working in government, nonprofits, law firms, consulting firms, or businesses—who take ownership of their career paths and develop the tool kit necessary to add value and succeed wherever they work. Developing legal entrepreneurs, however, requires a commitment to innovation and experimentation that until recently has not been traditionally associated with legal academia.
To underscore the range of emerging innovations needed in legal academia, consider the following five initiatives now taking place in legal education:
1. Build an entrepreneurial mindset. Training law students to develop an entrepreneurial mindset is foundational for the New Normal. The reality is that large law firms are employing fewer and fewer law graduates, and the early interview week model is not what it once was. As such, law schools need to reorient their students’ thinking about their careers. An entrepreneurial mindset is a must in the New Normal, and law students need to heed LinkedIn co-founder Reid Hoffman’s teachings in The Start-up of You. How law schools will transmit those lessons to a notoriously risk-averse group remains to beseen. But the age of law school as a risk-free option for people who expect a job to be handed to them at the end is over.
2. Challenge employers on entry-level hiring. Challenging employers to think differently about entry-level hiring and summer jobs is a critical to adjusting to the New Normal. The marketplace for legal talent is incredibly traditional, and the resistance of employers to experiment is a formidable challenge to creating new opportunities for recent law school graduates. Most law students would welcome the chance to work at any number of successful law firms or in-house organizations in a temporary capacity over the summer or even upon graduation—even at lower rates than traditional summer associate or associate positions—because such jobs can offer valuable opportunities to build marketable skills and develop important networks, connections, and references. And such opportunities present firms with the chance to use the talents of these students or recent graduates. But a big impediment to developing such an opportunity is that firms often believe that they cannot provide them if they are not prepared to offer a long-term job when the student graduates. A number of law schools are taking this issue head on, such as the Cardozo New Resident Associate Mentor Program and, in Colorado, where both law schools (the University of Colorado and the University of Denver) are collaborating on a Legal Residency program that encourages law firms or other employers to hire a recent graduate for 12 to 18 months, offer a quality experience, and provide apprenticeship outside of the traditional associate track.
3. Compress law school education and couple with experience. Law schools can couple a 2.5 year degree with a quality experience. The opportunity to graduate in 2.5 years, which can be achieved through accelerated schedules that permit saving a semester, is increasingly appealing as tuition costs has risen greatly over the past decade. Law schools encouraging such paths can work with partners like Cisco’s general counsel Mark Chandler, who is welcoming paid interns for seven months at Cisco from June 1st after their second year until the following January, enabling students to graduate not only with less debt, but with more experience.
4. Provide multidisciplinary training. Law schools increasingly are providing their students with multidisciplinary training, including but not limited to key business skills. The New Normal means that “thinking like a lawyer” is not enough; we need lawyers who can “think like clients.” For lawyers to understand their clients, they need to learn their businesses. This concept applies to those working in the public sector as well as the private sector; lawyers with domain knowledge of the fields they are practicing in are simply more likely to succeed than those without such knowledge. This means more nontraditional courses, more interdisciplinary courses, and more “boot camp”-type experiences.
5. Engage with the community. Law schools need to engage with their communities, get to know their success stories, and reverse-engineer them. The reality is that law firm hiring is not coming back, and a core challenge for law schools is to develop nontraditional opportunities—such as ones in business development, compliance, human resources, and public policy—for law school graduates with the right skill sets. The challenge is that developing such partnerships and opportunities is a long game. But the forces that shaped today’s New Normal were a long time coming; the actions that will enable law schools to adapt will take time as well.
Experimentation, innovation, and the New Normal. In 2008, most law school deans were living in the Old Normal. Today, all law school deans know that they are in a New Normal. The reality is that the shaping of today’s environment took place over a long period of time, even if we did realize it while it was happening. As such, developing a new model will not happen overnight. But momentum is building. The broad outlines of the New Normal—the need for a more entrepreneurial mindset, more community engagement, more multidisciplinary training, and new (and nontraditional) employment pathways—are now taking shape through experiments all over the country. The exciting part of this emerging paradigm is that it is still very much a work in progress, and law schools have the opportunity to develop creative partnerships and innovations to support our students in a changing and challenging environment.
I got to work closely with Luke Beatty this summer while he was running the Techstars Boulder program. In one word, he’s “awesome.” Deeply, truly awesome.
I knew Luke from a distance – we’d crossed paths a few times but never worked together. I watched him build a real company with Associated Content and sell it to Yahoo for $100 million. When David Cohen asked me what I thought of him for Managing Director of Techstars Boulder, I responded “Awesome if you can get him.”
Luke ran an amazing program this summer. I spent at least an hour a week with him and all the CEOs in the program in our top secret weekly CEO session. We worked together on the Intuit acquisition of GoodApril. And a bunch of other things.
I wasn’t surprised when Tim Armstrong at AOL made him an offer he couldn’t refuse and Luke joined AOL as Head of Strategic Partnerships. I knew Luke and Tim had gone to school together, were close friends, and that Tim was the first investor in Associated Content. While I’m bummed that Luke isn’t running Techstars Boulder anymore, I’m psyched I got a chance to really know him over the summer. Plus, it amuses me that he now has to use AOL Mail as his email system.
Come join us at Entrepreneurs Unplugged on Monday 10/7 at 6:15 at ATLAS. Register here.
I’m spending the new two days filming the content for a MOOC on raising venture capital. The content is based on my book with Jason titled Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist. After exploring a few different MOOCs for this, I think NovoED is the most interesting platform.
I’ve been impressed with the quality of the courses that currently exist. Several of my friends have done courses, including Chuck Eesley, a professor in Stanford University’s Management Science & Engineering group. Among other things, he’s got a great NovoEd course starting in a month titled Technology Entrepreneurship as well as a superb reading list for anyone interested in entrepreneurship.
Matt Blumberg finished filming the course around his book – Startup CEO: A Field Guide to Scaling Up Your Business – a few weeks ago. I got a preview of a few segments – it’s excellent and exceeded my expectations for what NovoED was planning to do.
I’m looking forward to yet another experiment in content creation, this time around a MOOC. In addition to creating the content, I’ll be an active participant / teacher in the course when it comes out.
I’ve often talked about how I learn things by doing them. As I wrote a few weeks ago, I’m fascinated with what I perceive will be a radical transformation over the next decade in how education works. I’ve been participating in it already through experiments like Techstars, which has completely changed how I think about entrepreneurial education. Creating – and participating – in MOOCs in another step in my learning process as I form a view about what is really interesting here.