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


Published on

Conferencia de David Weekly en el marco de SG Emprende.

Published in: Technology
1 Like
  • Be the first to comment

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

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

  1. 1. Launching the Mexican Internet Boom<br />Observations from a Silicon Valley Nerd<br />David Weekly, November 2010, Mexico City<br />
  2. 2. Where are we?<br />
  3. 3. Where am I from?<br />
  4. 4. What does SV have that MX doesn’t?<br />Good food?<br />Good weather?<br />Good programmers?<br />Good businessmen?<br />$ for ideas?<br />Better access to information?<br />
  5. 5. What does SV have that MX doesn’t?<br />Good food? GREAT FOOD BOTH PLACES.<br />Good weather? GREAT WEATHER HERE.<br />Good programmers? SHARP HACKERS HERE.<br />Good businessmen? WORLD’S RICHEST BUSINESSMAN IS A MEXICAN.<br />$ for ideas? US GOV’T PROVIDES NO FUNDING.<br />Better access to information? PACKETS DON’T TAKE YEARS TO CROSS THE BORDER.<br />
  6. 6. I Thought SV Funded Ideas!<br />(Kinda true in late 1990’s, but…)<br />Terrible idea.<br />No revenue focus<br />No validation for team/idea/market<br />0% 10-year returns<br />Angels Today? Looking for:<br />Validated idea & team<br />Fanatical, payingcustomers.<br />Ideas are worthless. The value is in execution.<br />
  7. 7. SV Funding Infrastructure<br />Landscape is changing rapidly.<br />Friends & Family ($1k - $50k)<br />Angels ($50k - $1m)<br />Often ex-entrepreneurs, investing own money!<br />New resources like AngelList<br />Angel Groups ($250k - $2m)<br />Seed VC / Series A / Series B ($500k - $100m)<br />
  8. 8. Why does Silicon Valley work?<br />
  9. 9. Failure Acceptance<br />CA Gold Rush, 1849<br />Hard work earned you a chance at wealth, but no guarantees.<br />
  10. 10. Failure Acceptance<br />If you want to succeed more, fail more.<br />Edison, Hewlett-Packard, Nintendo, GM!<br />Success hides failurepretty well.<br />Odio, Wirehog, Google Base<br />Could scientists learn anything if every experiment had to succeed?<br />
  11. 11. Pay-it-Forward<br />Hippie Movement, 1960’s<br />Life is better together.<br />Joy > Dominion<br />
  12. 12. Pay-it-Forward<br />Entrepreneurship is tough.<br />You need support, peers, and energy.<br />So do they.<br />You could, today:<br />Help a fellow entrepreneur.<br />Share something you know.<br />Ask for mentorship / advice.<br />
  13. 13. Creating a Support Ecosystem<br />#1 = CONVERSATIONS.<br />Regular meetups<br />Mailing lists<br />Conferences<br />Places!<br />Read, write, discuss, hold each other accountable.<br />
  14. 14. Don’t Be Afraid to Start Small...<br />
  15. 15. …Things Can Grow Fast!!<br />SHDH 40<br />500+ hackers!<br /><18 months old<br />187members!<br />8000+ square feet<br />
  16. 16. Sharing? What About Competition?<br />If you’re not both growing fast, you both fail.<br />Economic growth comes from innovation.<br />This is not a zero-sum game. Make more pie.<br />
  17. 17. Scrappiness<br />Homesteading: 1800’s<br />The government gives you some empty land. You gotta take it from there.<br />Autonomy -> Prosperity<br />
  18. 18. Scrappiness<br />Are you a programmer?<br />Start now. You have no excuses.<br />Are you not a programmer?<br />Befriend a programmer.<br />Learn how to program. <br />Guess how much $ Shawn Fanning had to start Napster?<br />
  19. 19. CocevePBwikiPBworks<br />Started in August 2003 as Coceve.<br />Quit my job: no idea what to build.<br />$6,000 in savings.<br />No office, no grant, no government loans.<br />Every day I’d look myself in the mirror:<br />“If I fail, it won’t be because I didn’t try.”<br />
  20. 20. CocevePBwikiPBworks<br />Sole employee for 2+ years. $0 salary.<br />$60,000 raised from friends & family.<br />1.5 years on IM Smarter.<br />BotBlock, Coceve,…<br />PBwiki: 1am->8am @ SHDH#1<br />The power of encouragement!<br />1.5 years later: 1st financing: $350,000.<br />0.5 years later: 2nd financing: $2,100,000.<br />
  21. 21. CocevePBwikiPBworks<br />Ad supported? Low revenues<br />Prosumer? Limited market<br />Education? Semi-limited market<br />Small business? Slow growth<br />Creative professionals? Ah-ha! Legal & Agencies<br />Six years after starting the company, we find a reasonable product-market fit.<br />
  22. 22. Important Lessons<br />Nobody cares how fancy the technology is.<br />Find people willing to pay to solve a problem.<br />Speak to their pain.<br />Be a solution and not a tool.<br />
  23. 23. “Hustle”<br />Learn how to make a dollar from day one.<br />Trust: a capitalist with a clear business model.<br />
  24. 24. What is Success?<br />Investment?<br />Sale of the company?<br />Profitability?<br />IPO?<br />
  25. 25. What is Success?<br />Investment? NO WAY. (Masters, pressure)<br />Sale of the company?DEATH OF YOUR BABY.<br />Profitability?GONNA STAY THAT WAY?<br />IPO?LIABILITY, FORMS, PRESS, STRESS!!<br />There is no finish line.<br />You must be happy with every stage.<br />
  26. 26. Not You:<br />
  27. 27. What is sustainable?<br />Making more money than you spend.<br />Have the luxury of picking who invests in you, if anyone.<br />You pick if or when you want to sell.<br />
  28. 28. Profitability = you in the driver’s seat.<br />
  29. 29. Don’t be a Twitter Birdbrain<br />Beware deferred business models.<br />HUGE uptick needed…<br />…and if anything goes wrong…<br />
  30. 30. You Need To:<br />Stop playing at entrepreneurship and start some real companies.<br />Stop waiting for government grants.<br />Start selling to international market.<br />Start shootingfor billionpeso opportunities.<br />
  31. 31.
  32. 32. Mexico Needs…<br />Successful & visible Internet entrepreneurs.<br />Role models.<br />
  33. 33. Mexico Needs…<br />You.<br />
  34. 34. Mexico Needs…<br />You.<br />to be rich, successful, visible, popular, supportive, and awesome.<br />
  35. 35. So…<br />Get started!<br />
  36. 36.
  37. 37. Thank You.<br />David E. Weekly<br />@dweekly<br /><br />