5/9/2016 Si gns Y ou’ re Successful —Even If It Doesn’ t Feel Li ke It https://ww w.li nkedi n.com /pul se/si gns- your e -successful e ven- doesnt- feel -l ike- dr -tr a vi s- br adberry 1/24 20 Tools For Hybrid IT - See the 20 Tools You Need to Deliver Services in the New Hybrid IT World. OPEN LETTER TO RECRUITERS Dear Recruiters, I have been on the other side of the table hunting for jobs not too long ago. I faced numerous challenges while interacting with you all. While you might be extremelycompetent in dealing with your clients/ customers, I can’t say the same thing about the approach and attitude towards candidates. Now that I have been a recruiter for more than 5 years (and have confirmed mygratuity), in the interest ofnumerous candidates looking out for jobs, I can safelyhelp the recruiters with some free advice….. Follow
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Signs You’Re Successful—Even if It Doesn’t Feel Like It
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8/17/2019 Signs You’Re Successful—Even if It Doesn’t Feel Like It
5/9/2016 Signs You’re Successful—Even If It Doesn’t Feel Like It
https://ww w.l inkedi n.com /pul se/si gns- your e- successful even- doesnt- feel -l ike- dr -tr avi s- br adber ry 1/24
20 Tools For Hybrid IT - See the 20 Tools You Need to Deliver Services in the New Hybrid IT World.
OPEN LETTER TO RECRUITERS
Dear Recruiters,
I have been on the other side of the table hunting for jobs not too long ago. I facednumerous challenges while interacting with you all. While you might be extremely
competent in dealing with your clients/ customers, I can’t say the same thing
about the approach and attitude towards candidates.
Now that I have been a recruiter for more than 5 years (and have confirmed my
gratuity), in the interest of numerous candidates looking out for jobs, I can safely
5/9/2016 Signs You’re Successful—Even If It Doesn’t Feel Like It
https://ww w.l inkedi n.com /pul se/si gns- your e- successful even- doesnt- feel -l ike- dr -tr avi s- br adber ry 3/24
Signs You’re Successful—Even If It Doesn’t Feel
Like It
If you’re ambitious, you’re bound to feel like a failure from time to time. Lofty
goals lead to inevitable moments when you aren’t yet living up to your
expectations.
We live in a world that reinforces this feeling. Though most people won’t admit it
—other than the guy with the ‘ He who dies with the most toys wins’ bumper
sticker—in the back of our minds, we equate material possessions with success.
It’s a shame we fall prey to materialistic thinking because we certainly know
better. A study by Strayer University found that 90% of Americans believe
happiness is a bigger indicator of success than power, possessions, or prestige.
Digging a little deeper, 67% defined success as “good relationships with friends
and family,” and 60% said it is loving what you do for a living. Only 20% stated
that monetary wealth determines success.
But saying and doing are two very different things.
When it comes to success, our eyes often lead us astray. It’s hard not to feel like
the most successful people are those with the biggest houses, the most expensive
cars, and the most influential friends. Regardless of what you achieve, there’s
always someone with more, and this can make you feel like you’re losing. Theproblem isn’t your lack of toys; it’s believing that toys indicate true success.
Real success is about who you are and how far you’ve come. If you ever worry that
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5/9/2016 Signs You’re Successful—Even If It Doesn’t Feel Like It
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you’re not as successful as you should be, you may be evaluating yourself against
the wrong criteria. Sometimes you just need a reminder as to what you’ve really
accomplished in life. The success indicators that follow will help you do just that.
You’re no longer the center of the universe. We all know “successful”
people who act like they’re the center of the universe. It’s their world and the rest
of us just live in it…right? That’s not success. True success requires the ability tofeel empathy—to realize that other people’s feelings and dreams are just as
important as ours, and we cannot succeed without them.
You stay positive. Hope and optimism are essential components of a happy
life. If you dwell on the things that go wrong, you become bitter and resentful.
When that happens, you fail—no matter what you may have achieved. Real
success means always seeing the bright side and believing you have the power to
make even the worst situations better.
You know that failure isn’t forever. You’ve learned that the only people who
never fail are those who don’t try. When you fail, you don’t automatically assume
that you’re a failure. Instead, you embrace each failure as an opportunity to learn
something—and then you move on. If you still struggle with this at times, know
that you’ll never experience true success until you learn to embrace failure. Your
mistakes pave the way for your success by revealing when you’re on the wrong
path. The biggest breakthroughs typically come when you’re feeling the most
frustrated and the most stuck. It’s this frustration that forces you to think differently, to look outside the box and see the solution you’ve been missing.
You keep things in perspective. Sometimes bad things happen. It’s part of
life. For most of us, however, our very worst day would seem like a vacation to
somebody who has real problems—like not having enough to eat, or trying to
survive a civil war. Locking your keys in the car—or even getting passed over for a
promotion—aren’t that bad once you learn to develop perspective. If you’ve
mastered the ability to keep your problems in perspective, mark it down as a huge
success.
You ask for help when you need it. Refusing to ask for help, no matter how
much you’re struggling, is a sign of emotional immaturity. Asking for help means
that you no longer feel like you have something to prove by being perfect. It
shows you aren’t afraid of people discovering your weaknesses and you
understand no one succeeds alone.
You realize that life isn’t a zero-sum game. It’s not a see-saw, either. Just
because somebody else achieves a big success, that doesn’t mean you suffer a loss
in equal proportion. You just didn’t win that particular time. One sure sign of
success is the ability to celebrate others’ achievements with sincere enthusiasm.
8/17/2019 Signs You’Re Successful—Even if It Doesn’t Feel Like It
5/9/2016 Signs You’re Successful—Even If It Doesn’t Feel Like It
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The investing class known for backing hyper-successful startups like Uber,
Airbnb, Dropbox and more, VC is almost deified in Silicon Valley. People working
in startupland follow the moves of their favorite venture capitalists like fans
follow their favorite celebrity. What these guys (and a few gals) tweet is revered.
What they write is seemingly immortalized.
Dave McClure is not one of those people.
The founder of 500 Startups, McClure runs a seed fund and startup accelerator
with $250 million in assets. Unlike traditional VCs who only make a handful of
big bets a year, McClure makes lots of small ones. He aims for 500 investments a
year and in total has backed more than 1,500 startups with funding.
McClure thinks this model of investing will not only yield better results over time,
but he also thinks it’s the model that everyone will follow in the future. In his
mind, if the private investing markets are going to survive, they have to diversify
their investing portfolio just like McClure has.
Rather than deify the strategy of the big-name VC firms on Sand Hill Road,
McClure has a different opinion entirely – and he isn’t afraid to voice it.
“Most venture capitalists are lazy and not innovative,” McClure said last week on
a panel discussion at the Milken Institute Global Conference. “They take
meetings, play golf, and make two investments a year. We are surrounded by entrepreneurs who are innovating, and we are this shitty little asset class that is
not changing.”
After the panel, I caught up with Dave to get the story behind this explosive
comment and the many others he made on stage.
Edited excerpts:
Caroline Fairchild: You said on stage that venture capitalists can’t
really innovate. Do you really think that?
Dave McClure: There are not too many innovators in venture capital. What is
maybe the myth is that VC is doing fine, but it is actually pretty shitty in its level
of maturity and expansion, and there is going to be a lot of disruption in venture
as people scale other models faster and better. As much as I think Sequoia,
Benchmark, and Accel will have 20 more years before their models are
questioned, there are a bunch of other firms on Sand Hill Road, which will have
shitty performances because they are doing the same old, same old. As much
opportunity is going on in the industry, we are still pretty poor at our craft. The
reason the asset class hasn’t gotten bigger is because three out of four VCs do not
5/9/2016 Signs You’re Successful—Even If It Doesn’t Feel Like It
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beat the market. It is a structural problem around how people think about
building portfolios and structuring VC. There are better ways to structure the
asset class that will perform better. We are getting there, but it will take some
time to scale.
CF: What’s the biggest problem with how venture capitalists structure
their portfolios?
DM: Mostly portfolio construction is too concentrated. The industry thinks that
30 companies is proper portfolio construction, but they are absolutely wrong.
Just because some outliers are successful does not mean that the rest of the
industry is full of shit. If you increase portfolio size by five to 10 times, your
portfolio will perform better. In five to 10 years we will realize that we are right. It
will be the minority of funds that have concentrated portfolios, not the majority.
People are saying we are doing “spray and pray” and say that is kind of funny and
crazy. It is mathematically quantitative. You are the losers who are doing the non-
mathematical model, but they haven't realized it yet.
DM: What opportunities does your investment strategy open up for
you?
CF: It gives us a lot more flexibility. We pioneered a different model. When I
started investing as an angel and at Founder’s Fund, I made a lot of little bets.
Most of them didn’t work, but some of them worked really well. We wanted toscale that strategy. That generally is working very well. Between 2 to 3% of our
portfolio will become really big, another 5 to 7% will become modestly big. It is
basic math. If I only find the unicorns 2% of the time, the portfolio should be a
minimum of 50 to 100 companies. For more statistically significant results, the
portfolio should have 200 to 500 companies.
CF: So why is everyone so obsessed with venture capital?
DM: People have seen some pretty big wins. Those wins are capturing more and
more of the value chain by not going public. Companies would go public at $200
million dollars, now companies at $2 billion or $5 billion are not going public.
Private markets are capturing all the value creation. People talk about companies
not going public as the problem. That is not the problem. Pricing is the problem.
Those companies are kept private because private capital is greedy to invest in
those companies and capture that value creation. They will definitely figure out
how to price it because they will make money.
CF: What’s going on with the funding market right now?
DM: People are trying to compare right now to 2000 and 2001, which is
8/17/2019 Signs You’Re Successful—Even if It Doesn’t Feel Like It