Silicon Valley 2010: Changes in Circles of Influence #1 Silicon Valley 2000-2010: Changes in the Circles of Influence Prepared Tom Kosnik and Lena Ramfelt, Coauthors of Circles of Influence (in revision) Presented at NUS on March 25, 2010 If you circulate any part of this presentation please give credit to the authors.
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Silicon Valley 2010- Changes in the Circles of Influence from Prof Tom Kosnik
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Silicon Valley 2010:Changes in Circles of Influence #1
Silicon Valley 2000-2010:Changes in the Circles of Influence
Prepared Tom Kosnik and Lena Ramfelt,
Coauthors of
Circles of Influence (in revision)
Presented at NUS on March 25, 2010
If you circulate any part of this presentation please give credit to the authors.
Silicon Valley 2010:Changes in Circles of Influence #2
Thanks to NOC Alumni, NUS Enterprise, and NEC team for making this presentation possible!
• Prof. Lilly Chan
• Prof. Teo Chee Leong
• Prof. Wong Poh Kam
• Wong Hong Ting
• Hoey Lit Loo
• Audrey Tan
• Min Xuan Lee
• Lao Zi Jun Lawrence
• Shannen Soo
• Jolia Tan
• Daphne Gong
• And more!!!
Silicon Valley 2010:Changes in Circles of Influence #3
1970 1980 1990 2000 2005 2010
Who is Tom Kosnik?
AMERICAN MANAGEMENT SYSTEMS
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Agenda• What is Silicon Valley?• Stanford and NUS are at Ground Zero• Circles of Influence: Players, Stakes and Code• The Players in 2000… and 2010• Web 2.0 & Mobile Milestones in the Valley• Clean Tech Categories on the Rise in the Valley• Venture Capital Trends in the Valley• Reasons for the Venture Capital Crunch• The Rise of Incubators and Accelerators• How Entrepreneurs are Coping with Changes• Examples of Trustworthy “Young Guns” in VC
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What is Silicon Valley? An entrepreneurial state of mind.
Silicon Valley 2010:Changes in Circles of Influence #6
What is Silicon Valley?Miles of roads and too much traffic
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What is Silicon Valley?
The highest concentration of
entrepreneurial high-tech companies
in the world.
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Stanford University is at Ground Zero in the Silicon Valley Cluster
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And So is NUS College of Silicon Valley!
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What are the Circles of Influence? A model to help entrepreneurs get stakes for their ventures.
Players
Code
Stakes
The Sweet Spot!
Entrepreneurial Cluster
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Players bet their stakes on entrepreneurial ventures.
• Venture capital firms (and their Limited Partners)
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The 7 Paradoxes of Silicon Valley7 Paradoxes of Silicon Valley
Paradox 1: Mountains in the Valley.
Paradox 2: Academic aristocracies sing praise to meritocracy. Paradox 3: Scarcity in the land of plenty.
Paradox 4: Innovation masks tradition.
Paradox 5:It’s OK to fail if you shoulder the blame.
Paradox 6: Long on knowledge, short on wisdom
Myths about entrepreneurship in Silicon Valley
The Valley is an open network.
The Valley is a meritocracy.
Money, talent, and other resources are abundant.
It’s OK to fail!
Learning fuels success in Silicon Valley.
Everyone cooperates – even competitors.
Paradox 7: Competitors Collaborate and Collaborators Compete.
Silicon Valley is “ground zero” for innovation.
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Academic Aristocracies Sing Praise to Meritocracy: 2003
Figure 4.1B: VCs with MBAs from Leading Universities
Stanford40%
Pennsylvania4%
Santa Clara3%
UCLA2%
Columbia2%
Northw estern2%
All Others16%
Harvard31%
Stanford
Harvard
Pennsylvania
Santa Clara
UCLA
Columbia
Northwestern
All Others
Source: Sample of 164 VC professionals from 21 Silicon Valley f irms, June 2003.
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Academic Aristocracies Sing Praise to Meritocracy: 2008
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Scarcity in the Land of PlentyThe Money Talent Merry-Go-Round
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It’s OK to fail if you learn – and shoulder the blame
Myth 5:
It’s OK to fail
Paradox 5:It’s OK to fail if you learn -
And shoulder the blame.
How to cope with the paradox:
• If you blame investors they won’t forgive or forget. • Fail fast and adapt before burning through your funding.• When failing remember to show grace under fire.
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Do the Paradoxes of Silicon Valley Do the Paradoxes of Silicon Valley apply in your Entrepreneurial Cluster?apply in your Entrepreneurial Cluster?
The Paradoxes of Silicon Valley No ?? Yes
1. Mountains in the Valley
2. Academic aristocracies sing praise to meritocracy
3. Scarcity in the land of plenty
4. It’s OK to fail if you learn – and shoulder the blame
5. Innovation masks tradition
6. Long on knowledge, short on wisdom
7. Competitors collaborate, collaborators compete
Are there other paradoxes in your community?
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What segment best describes you tonight?
Raise your hand for the color that best fits you tonight:
– Blue = I have an opportunity, am looking for money and talent
– Red = I have talent, am looking for the right opportunity
– Green = I have money to invest (as a customer, angel, VC, etc.)
– Yellow = I have other resources entrepreneurs need to grow