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SG Emprende l David Weekly - Factores de Éxito para un Ecosistema Sustentable de Emprendimiento

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Conferencia de David Weekly en el marco de SG Emprende.

Conferencia de David Weekly en el marco de SG Emprende.

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SG Emprende l David Weekly - Factores de Éxito para un Ecosistema Sustentable de Emprendimiento SG Emprende l David Weekly - Factores de Éxito para un Ecosistema Sustentable de Emprendimiento Presentation Transcript

  • Launching the Mexican Internet Boom
    Observations from a Silicon Valley Nerd
    David Weekly, November 2010, Mexico City
  • Where are we?
  • Where am I from?
  • What does SV have that MX doesn’t?
    Good food?
    Good weather?
    Good programmers?
    Good businessmen?
    $ for ideas?
    Better access to information?
  • What does SV have that MX doesn’t?
    Good food? GREAT FOOD BOTH PLACES.
    Good weather? GREAT WEATHER HERE.
    Good programmers? SHARP HACKERS HERE.
    Good businessmen? WORLD’S RICHEST BUSINESSMAN IS A MEXICAN.
    $ for ideas? US GOV’T PROVIDES NO FUNDING.
    Better access to information? PACKETS DON’T TAKE YEARS TO CROSS THE BORDER.
  • I Thought SV Funded Ideas!
    (Kinda true in late 1990’s, but…)
    Terrible idea.
    No revenue focus
    No validation for team/idea/market
    0% 10-year returns
    Angels Today? Looking for:
    Validated idea & team
    Fanatical, payingcustomers.
    Ideas are worthless. The value is in execution.
  • SV Funding Infrastructure
    Landscape is changing rapidly.
    Friends & Family ($1k - $50k)
    Angels ($50k - $1m)
    Often ex-entrepreneurs, investing own money!
    New resources like AngelList
    Angel Groups ($250k - $2m)
    Seed VC / Series A / Series B ($500k - $100m)
  • Why does Silicon Valley work?
  • Failure Acceptance
    CA Gold Rush, 1849
    Hard work earned you a chance at wealth, but no guarantees.
  • Failure Acceptance
    If you want to succeed more, fail more.
    Edison, Hewlett-Packard, Nintendo, GM!
    Success hides failurepretty well.
    Odio, Wirehog, Google Base
    Could scientists learn anything if every experiment had to succeed?
  • Pay-it-Forward
    Hippie Movement, 1960’s
    Life is better together.
    Joy > Dominion
  • Pay-it-Forward
    Entrepreneurship is tough.
    You need support, peers, and energy.
    So do they.
    You could, today:
    Help a fellow entrepreneur.
    Share something you know.
    Ask for mentorship / advice.
  • Creating a Support Ecosystem
    #1 = CONVERSATIONS.
    Regular meetups
    Mailing lists
    Conferences
    Places!
    Read, write, discuss, hold each other accountable.
  • Don’t Be Afraid to Start Small...
  • …Things Can Grow Fast!!
    SHDH 40
    500+ hackers!
    <18 months old
    187members!
    8000+ square feet
  • Sharing? What About Competition?
    If you’re not both growing fast, you both fail.
    Economic growth comes from innovation.
    This is not a zero-sum game. Make more pie.
  • Scrappiness
    Homesteading: 1800’s
    The government gives you some empty land. You gotta take it from there.
    Autonomy -> Prosperity
  • Scrappiness
    Are you a programmer?
    Start now. You have no excuses.
    Are you not a programmer?
    Befriend a programmer.
    Learn how to program. 
    Guess how much $ Shawn Fanning had to start Napster?
  • CocevePBwikiPBworks
    Started in August 2003 as Coceve.
    Quit my job: no idea what to build.
    $6,000 in savings.
    No office, no grant, no government loans.
    Every day I’d look myself in the mirror:
    “If I fail, it won’t be because I didn’t try.”
  • CocevePBwikiPBworks
    Sole employee for 2+ years. $0 salary.
    $60,000 raised from friends & family.
    1.5 years on IM Smarter.
    BotBlock, Coceve, SingleStat.us…
    PBwiki: 1am->8am @ SHDH#1
    The power of encouragement!
    1.5 years later: 1st financing: $350,000.
    0.5 years later: 2nd financing: $2,100,000.
  • CocevePBwikiPBworks
    Ad supported? Low revenues
    Prosumer? Limited market
    Education? Semi-limited market
    Small business? Slow growth
    Creative professionals? Ah-ha! Legal & Agencies
    Six years after starting the company, we find a reasonable product-market fit.
  • Important Lessons
    Nobody cares how fancy the technology is.
    Find people willing to pay to solve a problem.
    Speak to their pain.
    Be a solution and not a tool.
  • “Hustle”
    Learn how to make a dollar from day one.
    Trust: a capitalist with a clear business model.
  • What is Success?
    Investment?
    Sale of the company?
    Profitability?
    IPO?
  • What is Success?
    Investment? NO WAY. (Masters, pressure)
    Sale of the company?DEATH OF YOUR BABY.
    Profitability?GONNA STAY THAT WAY?
    IPO?LIABILITY, FORMS, PRESS, STRESS!!
    There is no finish line.
    You must be happy with every stage.
  • Not You:
  • What is sustainable?
    Making more money than you spend.
    Have the luxury of picking who invests in you, if anyone.
    You pick if or when you want to sell.
  • Profitability = you in the driver’s seat.
  • Don’t be a Twitter Birdbrain
    Beware deferred business models.
    HUGE uptick needed…
    …and if anything goes wrong…
  • You Need To:
    Stop playing at entrepreneurship and start some real companies.
    Stop waiting for government grants.
    Start selling to international market.
    Start shootingfor billionpeso opportunities.
  • Mexico Needs…
    Successful & visible Internet entrepreneurs.
    Role models.
  • Mexico Needs…
    You.
  • Mexico Needs…
    You.
    to be rich, successful, visible, popular, supportive, and awesome.
  • So…
    Get started!
  • Thank You.
    David E. Weekly
    @dweekly
    david@weekly.org