Guest Lecture TU/e

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lucas tieleman

don’t be a fool. get out of school.

but..

defense against the dark arts

1. magical times

2. magical opportunities

cheap magical devices connected to all the worlds information and people

2 types of businesses

0 - 1 <> 1 - n

0 - 1

1 - n

technology

globalization

what important truth do very people agree with you on?

what great company is no one starting?

what is your secret?

3. magical money

0 - 1

money is better than poverty, if only for financial reasons - andy warhol

founders

equality above all

if you want to build a ship, don't drum up people together to collect wood and don't assign them tasks and work, but rather teach them to long for the endless immensity of the sea - antoine de saint-exupery

friends, family & fools

honesty above all

angels

the need to know wtf they’re doing

venture capital

portfolio companies

vc’s take a cut

the 2-and-20 rule

2% as management fee

20% of the gains (the carry)

output > input

venture capital is really fucking hard

exponential power

the most powerful force in the universe is compound interest

power law

a VC portfolio will only make money if their best company investment ends up being worth more than your whole fund.

is there a reasonable scenario where their stake in your company will be worth more than the whole fund?

4. magic tricks

don’t re-invent the fucking wheel

show don’t tell

know your audience

raise when you don’t need the money

be nice & friendly

get a decent lawyer

the secret impresses no one, the trick you use it for is everything

5. shit they don’t teach in school

it’s not checkers, it’s motherfucking chess

the more that you read, the more things you will know. the more that you learn, the more places you'll go.

winning isn’t everything, but wanting to win is.

think outside the box, collapse the box, and take a fucking sharp knife to it.

it isn’t flying, it’s falling with style

life’s like a movie, write your own ending. keep believing, keep pretending

have fun :)