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STARTUPS & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former VP & General Manager, International eBay angels
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STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

Dec 26, 2015

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Page 1: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

STARTUPS &A LOOK BEHIND THE CURTAIN

AT THE MAGIC OF SILICON VALLEY

Active Angel Investor & Serial Entrepreneur,

Former CEO of Wikia Inc., and Former VP & General Manager, International eBay

angels

Page 2: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

OPPORTUNITY

OPPORTUNITYEGOEGO

ACCESSACCESS

Page 3: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

OPPORTUNITY

OPPORTUNITYEGOEGO

ACCESSACCESS

Page 4: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

THE CLOUD

Page 5: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

THE CLOUD

Page 6: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

THE CLOUD

Page 7: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

ORACLE VS. MYSQL

Page 8: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

148mm148mm1,018mm1,018mm

2,000mm2,000mm

THE INTERNET POPULATION

2006 2010

Source: www.allaboutmarketresearch.com/internet.htm

1998

Page 9: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

NEW PLATFORMS

Page 10: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.
Page 11: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

CREATING REMARKABLE CAPITAL EFFICIENCY

Page 12: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

ACCESSACCESS

OPPORTUNITY

OPPORTUNITYEGOEGO

Page 13: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

NEW CROP OF ANGELS

AND SUPER ANGELS

ANGEL TYPES

Page 14: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

FUN FOR YOUNG FOUNDERS

Page 15: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

EGOEGO

ACCESSACCESS

OPPORTUNITY

Page 16: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

ANGELIST

Page 17: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.
Page 18: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

VC As-sociatesSeed FundsConnected AngelsNew AngelsScary "Dumb Money"

WHERE FUNDING COMES FROM

Page 19: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• There has never been a better time to do a start-up

• Startups are not a company. They’re hypothesis tests funded by adrenaline junkies

• Keep costs low and you can run a series of hypotheses

TAKE-AWAYS

Page 20: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

STARTUP2012MANTR

AS

Page 21: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

THE LEAN STARTUP is a resource to assist entrepreneurs, startup and established businesses make better, faster business decisions.

THE LEAN STARTUP

Page 22: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

DESIGN MATTERS

Page 23: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

FASTLY

Page 24: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

WHAT IT TAKESTO START A COMPANY

Page 25: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

STORYTELLING

Page 26: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

CUSTOMERSAND PRESS

CUSTOMERSAND PRESSINVESTORSINVESTORS

EMPLOYEESEMPLOYEES

Page 27: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• In the early days, everyone was a critic

• Even my mom was embarrassed the first two years

• 5 years later, I’m an over-night success

FOUNDER QUOTES

Page 28: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• Start 8 new companies – 2 per quarter

• Recruit a CEO for each

• Learn what goes wrong

SO LAST YEAR I SET A GOAL

Page 29: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• Missed my goal - only started 5

• Storytelling was the key to both recruiting and raising $. I kept telling the story to everyone I knew and hearing why it was stupid

• Results to date– 2 already dead– 2 lightly funded with one founder– 1 venture funded with 10 people now

SO LAST YEAR I SET A GOAL

Page 30: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• Part-time founders are highly unstable source of labor. 2-3 people really make it more fun and more sustainable

• Underfunding causes real stress and few business can achieve anything in 1 year. So either plan for no money, or raise as much as you can

• Launch early. The enemy of startups isn’t ugly products, bad press, or customer anger…it’s apathy

WHAT WENT WRONG?

Page 31: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

• Few ideas are great

• The Darwinian process works

NOTHING WENT WRONG

Page 32: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

STARTSOMETHING

Page 33: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

A STORY

[email protected]

facebook.com/penchina

OR TELL ME

Page 34: STARTUP S & A LOOK BEHIND THE CURTAIN AT THE MAGIC OF SILICON VALLEY Active Angel Investor & Serial Entrepreneur, Former CEO of Wikia Inc., and Former.

STARTUPS &A LOOK BEHIND THE CURTAIN

AT THE MAGIC OF SILICON VALLEY

Active Angel Investor & Serial Entrepreneur,

Former CEO of Wikia Inc., and Former VP & General Manager, International eBay

angels