IVA Day 1...

This morning started with Israel’s Cleantech meetup, and continued with Day 1 of the IVA conference.  Definitely a busy day for an “ex-VC” like me. 

Opening keynote by US VC Tim Draper, of DFJ. Tim demonstrated his presentation skills by describing the new type of entrepreneurs that he is seeking, the “super hero’s”, followed by a rock star performance of “Risk Master”. Lyrics by Tim, Music by Mystery Rock Star.

For a video of one of his previous gigs (Stanford, Singapore, Mountain View, New York), click here.

During Tim’s performance, I was sitting next to a buddie of mine that also spent many years in Silicon Valley.  We both looked at each other and pondered how this same performance delivered here in Israel, would feel TOTALLY different when delivered in the US…  Yes, culture is culture; not always transferable from one place to another - even if it is only a song.

Next up, Mike Moritz of Sequoia Capital, who promised his feet would not leave the ground (or something to that extent…).  His presentation, entitled: “Size Matters, How to get it, How to keep it”, discussed what it takes to build enduring, sustaining companies that can grow to be multi billion dollar companies (not those sold for a mere $200,$300,$400M).  Using examples from successful companies such as P&G, Walmart, News Corp, Fedex, Nike, Amazon, Intel and Apple, Mike’s presentation was both insightful and inspiring.

Key points delivered:

• Pursue billion dollar possibilities


• When you run out of market, expand into another such opportunity


• Expand with care - there are no shortcuts


• No need to be a public company to grow and become a significant company


• Examine your company as an outsider


• Foreigners can win in the US


• Skeptics are often wrong


• Never bow to setback


• Capital intensity sometimes does work


• Lack of money breeds ingenuity


• Invest during downturns


• Make the founders spirit live !!!

The last part of Mike’s presentation really drove that last point home, when he discussed Apple.  We all know that Steve Jobs was fired, apparently because he required “Adult Supervision”.  Adults were brought in (3 different CEO’s actually)… the company almost died.  The return of Steve Jobs brought us products that have become such a basic part of our day-to-day.  The big question is how did Steve make this transition from what was a “rotten Apple” to where the company is today.  The presentation highlighted the following points:

• Be realistic (know what is really going on)


• Focus on a few things


• Start with small wins (remember, the first products that Apple released post Steve, were essentially just better versions of what was already out there)


• Focused on the product and develop things people want (there came iPOD).


• When lightening strikes - strike (iPOD’s success, brought quick new iPODs to market, riding on this unexpected success)


• Design what you want to use (Personally - this could be a bit problematic at times…. I recall quite the number of products developed by techies to their spec, without thinking about what a user really wants)


• Stay right in front of the customer (In Apple's case, this was achieved via the Apple retail store)

Mike certainly touches on a sensitive point for the Israel venture industry.  I have blogged about this subject before, and hopefully the mindset of the VC as well as entrepreneur is changing.  Presentations like these certainly help to drive the message home. Thanks Mike!

The rest of the afternoon was busy with panels, presentations, awards, start-up presentations, and a schmoozfest (which I missed, as I had an important parent meeting back home).  But no worries, tomorrow is another day with IVA Day 2, as well as Ness Technologies “We Make it Happen” Summit, featuring (or shall I say staring?) Al Gore. It’s going to be a long week…

 

 

Tags: iva, mike+moritz, sequoia+capital, tim+draper, DFJ, ness+technologies, steve+jobs, apple+computer, riskmaster, cleantech+meetup

Comments

[rahulk]

Well friends i read the comment and i think the return of Steve Jobs brought us products that have become such a basic part of our day-to-day.rahulk [url=http://www.ivazone.com/IVA/what-is-an-iva.htm]What is an IVA[/url]

[Chanel Handbags]

i have just started takin micronized creatine by higher powder and i do notice strength gains. i can do heavier weights, more reps, and more explosively while controlling the weight. like before i could only do 35 lbs incline bench press 8 to 9 times now after 2 weeks only i can do it like 14 times. its crazy.

[replica designer handbags]

A busy day,but it seems that you enjoyed it, i think.

[Louis Vuitton Outlet]

I saw this actually excellent post these days!

[performance bonding]

I dont think it needs expansion at the moment.

[meditative music]

It was horrible seeing some innocent victims.