Sequoia Capital: Alfred Lin at Magento's Imagine eCommerce Conference

Humble Beginnings
True Entrepreneur Tales
Alfred LinFebruary 9, 2011

2011
Steve Jobs

1976
Steve Jobs &Steve Wozniak
Consumer electronics

2011
John Riccitiello

1982
Trip Hawkins
Consumer entertainment software

2011
John Chambers

1987
Sandy Lerner &
Len Bosack
Internet hardware, software & services

2011
Carol Bartz

1994
Jerry Yang &
David Filo
Internet communications, commerce & media

2011
Eric Schmidt

1998
Larry Page & Sergey Brin
Ultimate search engine

2011
Max Levchin, Peter Thiel & Elon Musk
Scott Thompson

1998
Max Levchin, Peter Thiel & Elon Musk
Field Link
“BEAM MONEY”
Digital payments services

2011
Tony Hsieh

1999
Nick Swinmurn
Shoe retail services

2011
Jonathan Kaplan

2001
Jonathan Kaplan
One-time-use cameras

2011
Steve Chen &
Chad Hurley

2005
Steve, Chad & Jawed
Internet media

2011
Omar Hamoui

2006
Omar Hamoui
Mobile advertising marketplace services

Commonalities

They Were Once In Your Shoes

The Founders Code™
✔Underdogs
✔Insight
✔Personal
✔Focused
✔Unconventional
✔Iterate
✔Agility
✔Relentless
✔Long-term

Elements of a Sustainable Company
✔ Clarity of purpose
✔ Spectacular market
✔ Alleviate customer pain
✔ Team DNA
✔ Singular product
✔ Real operating margins
✔ Frugality
✔ Inferno with a single match

Apple Sales
FOUNDER RETURNS
FOUNDER
FIRED

The Wilderness Years

Apple’s “Adults”
JOHN SCULLEY
1983 – 1993
MICHAEL SPINDLER
1993 – 1996
GIL AMELIO
1996 – 1997

Newton

Michael Dell October 1997
“What would I do? I’d shut it down
and give the money back to the
shareholders.”

Think Different

Relentless Product Innovation

Software as the Secret Ingredient

Branded Experiences

People Personifying the Brand
181 US Stores 28 Non-US Stores 12,000 Retail Employees

Disrupting Markets

New Markets

Apple iPhone Sales
#K
20
$40
15
$30
#K
10
$20
$10
5
20
$0
0
1999
2001
2003
2005
2007
2009
1999
2001
2003
2005
2007
2009
2008

Apple Application Downloads
#M
20
15
10
5
0
2007
2009
2008

Apple Gross Margin
40
40
$40
30
$30
40
%
20
40
$20
10
40
$10
0
$0
40
1997
1999
2001
2003
2005
2007
2009

Apple Market Capitalization
$200
40
40
$40
$150
30
$30
40
%
$B
$100
20
40
$20
$50
10
40
$10
$0
0
$0
40
1997
1999
2001
2003
2005
2007
2009

Thank You
lin [at]sequoiacap.com

http://www.sequoiacap.com	1097
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Sequoia Capital: Alfred Lin at Magento's Imagine eCommerce Conference

by Sequoia Capital on Feb 09, 2011

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Sequoia Capital: Alfred Lin at Magento’s Imagine eCommerce Conference — Presentation Transcript