Online Dating is the Future of Business

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Online Dating is the Future of Your Business

Presentation to TEDx Silicon Alley October 26,2011

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Online Dating is the Future of Business

  1. 1. Online Dating is the Future of Your Business BTC Israel Conference February 6 2014 David Teten Partner, ff Venture Capital ffvc.com // @ffvc teten.com // @dteten New York, NY © 2014 David Teten. More at ffvc.com and teten.com http://www.flickr.com/photos/cali4beach/5447189098/in/photostream/
  2. 2. Don’t Take Notes! Download these slides, sign up for updates, and get more free resources at: ffvc.com/dating and teten.com
  3. 3. ff Venture Capital (ffvc.com) •  •  •  •  •  •  Early-stage technology venture capital fund Founded 1999, with over 200 investments in over 70 companies 21 employees in Manhattan and Hoboken First investments typically $100-$500K at valuations of <$5m pre-money Follow on in later rounds for best-performing startups Prominent investments include: Cornerstone OnDemand (IPO); Quigo Technologies (sold to AOL for reported $340m); Indiegogo; Klout; 500px; HowAboutWe •  4 Israeli investments: CamSpace, GlucoVista, Omek (acquired by Intel), Quigo (acquired by AOL)
  4. 4. David Teten (teten.com) •  Partner, ff Venture Capital, early-stage technology venture capital fund •  Founder and Chairman, Harvard Business School Angels of New York . Cofounded Venture Capital Access Program, introducing women and minority entrepreneurs to Harvard-affiliated angels •  Lead author of first-ever research study on best practices in private equity/ venture capital deal origination •  Lead author of first-ever research study on best practices of venture capitalists in increasing portfolio company value through operational support •  Lead author, The Virtual Handshake: Opening Doors and Closing Deals Online •  Harvard MBA 1998, Yale BA, both with honors. •  @dteten © 2014 David Teten. More at ffvc.com and teten.com
  5. 5. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)
  6. 6. Character – Competence – Relevance – Strength – Information – Number – Diversity Balance of Strength and Numbers Average Strength = Minutes Available / Person Number = # People therefore… Average Strength * Number = Total Minutes Available vs. © 2014 David Teten. More at ffvc.com and teten.com
  7. 7. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  8. 8. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character before How to grow Character social media Social media… in social media Read the bible, or Stephen expedites diligencing, Know your every action is being Covey. particularly through reference- analyzed. checking. © 2014 David Teten. More at ffvc.com and teten.com
  9. 9. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character before How to grow Character social media Social media… in social media Read Stephen Covey. expedites diligencing, Know your every action is being particularly through reference- analyzed. checking. © 2014 David Teten. More at ffvc.com and teten.com
  10. 10. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character before How to grow Character social media Social media… in social media Read Stephen Covey. expedites diligencing, Know your every action is being particularly through reference- analyzed. checking. © 2014 David Teten. More at ffvc.com and teten.com
  11. 11. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  12. 12. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Go to pedigree school, work for pedigree company. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media creates and allows publicizing Teach yourself and get of recognizable, tightly defined credentials online. credentials.
  13. 13. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Go to pedigree school, work for pedigree company. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media creates and allows publicizing Teach yourself and get of recognizable, tightly defined credentials online. credentials.
  14. 14. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Go to pedigree school, work for pedigree company. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media creates and allows publicizing Teach yourself and get of recognizable, tightly defined credentials online. credentials.
  15. 15. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Publish a book. © 2014 David Teten. More at ffvc.com and teten.com Social media... expedites evaluation of work product. How to grow Competence in social media Put your work product, or evidence of work product quality, online. http://www.flickr.com/photos/keithspringer/5912990822/
  16. 16. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Publish a book. © 2014 David Teten. More at ffvc.com and teten.com Social media... expedites evaluation of work product. How to grow Competence in social media Put your work product, or evidence of work product quality, online.
  17. 17. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Publish a book. © 2014 David Teten. More at ffvc.com and teten.com Social media... expedites evaluation of work product. How to grow Competence in social media Put your work product, or evidence of work product quality, online.
  18. 18. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Study hard. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media makes you as smart as Google. Build skill in obtaining information online/via social networks. http://www.flickr.com/photos/english106/4357228667/
  19. 19. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Study hard. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media makes you as smart as Google. Build skill in obtaining information online/via social networks.
  20. 20. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence before social media Study hard. © 2014 David Teten. More at ffvc.com and teten.com How to grow Competence Social media... in social media makes you as smart as Google. Build skill in obtaining information online/via social networks.
  21. 21. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  22. 22. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Go to conferences. allows financial capital to Ask friends for introductions. substitute for social capital. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks. http://www.flickr.com/photos/23439761@N03/3258313816/sizes/l/
  23. 23. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Go to conferences. allows financial capital to Ask friends for introductions. substitute for social capital. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.
  24. 24. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Go to conferences. allows financial capital to Ask friends for introductions. substitute for social capital. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.
  25. 25. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Look for the most attractive collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making. © 2014 David Teten. More at ffvc.com and teten.com http://500px.com/photo/55794308
  26. 26. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Look for the most attractive collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making. © 2014 David Teten. More at ffvc.com and teten.com
  27. 27. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Look for the most attractive collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making. © 2014 David Teten. More at ffvc.com and teten.com
  28. 28. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Wear a T-shirt with a allows you to be findable and company logo. therefore connect with more Relevant people. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.
  29. 29. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Wear a T-shirt with a allows you to be findable and company logo. therefore connect with more Relevant people. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.
  30. 30. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before social media Social media... Wear a T-shirt with a allows you to be findable and company logo. therefore connect with more Relevant people. © 2014 David Teten. More at ffvc.com and teten.com How to grow Relevance in social media Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.
  31. 31. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Read the newspapers. saves you from wasting time on Identify targets who are emitting people who don't want to buy sales signals. what you're selling. © 2014 David Teten. More at ffvc.com and teten.com http://www.flickr.com/photos/zoetnet/4851547572/
  32. 32. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Read the newspapers. saves you from wasting time on Identify targets who are emitting people who don't want to buy sales signals. what you're selling. © 2014 David Teten. More at ffvc.com and teten.com
  33. 33. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance before How to grow Relevance social media Social media... in social media Read the newspapers. saves you from wasting time on Identify targets who are emitting people who don't want to buy sales signals. what you're selling. © 2014 David Teten. More at ffvc.com and teten.com
  34. 34. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  35. 35. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength How to grow Strength before social media Social media... in social media Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter. © 2014 David Teten. More at ffvc.com and teten.com http://www.flickr.com/photos/alisdair/17303737/
  36. 36. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength How to grow Strength before social media Social media... in social media Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter. © 2014 David Teten. More at ffvc.com and teten.com
  37. 37. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength How to grow Strength before social media Social media... in social media Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter. © 2014 David Teten. More at ffvc.com and teten.com
  38. 38. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  39. 39. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information before social media Enter all business cards diligently into your Rolodex. © 2014 David Teten. More at ffvc.com and teten.com Social media... places everyone online so you can track them down. How to grow Information in social media Use CRM system linked to social networks. http://www.flickr.com/photos/renaissancechambara/3122900531/
  40. 40. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information before social media Enter all business cards diligently into your Rolodex. © 2014 David Teten. More at ffvc.com and teten.com Social media... places everyone online so you can track them down. How to grow Information in social media Use CRM system linked to social networks.
  41. 41. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information before social media Enter all business cards diligently into your Rolodex. © 2014 David Teten. More at ffvc.com and teten.com Social media... places everyone online so you can track them down. How to grow Information in social media Use CRM system linked to social networks.
  42. 42. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  43. 43. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number before social media Meet people superficially. © 2014 David Teten. More at ffvc.com and teten.com Social media... allows easy group-forming around common interests. How to grow Number in social media Networking is devalued; meeting and building actionable relationships matters more. http://500px.com/photo/2906486 , http://500px.com/photo/1348476
  44. 44. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number before social media Meet people superficially. © 2014 David Teten. More at ffvc.com and teten.com Social media... allows easy group-forming around common interests. How to grow Number in social media Networking is devalued; meeting and building actionable relationships matters more.
  45. 45. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number before social media Meet people superficially. © 2014 David Teten. More at ffvc.com and teten.com Social media... allows easy group-forming around common interests. How to grow Number in social media Networking is devalued; meeting and building actionable relationships matters more.
  46. 46. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
  47. 47. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity before social media Social media... Restricted by time, space, expedites creation of and culture. heterogeneous networks, but most people don’t take advantage of this. © 2014 David Teten. More at ffvc.com and teten.com How to grow Diversity in social media Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries. http://www.flickr.com/photos/vancouverfilmschool/6047447328/ , http://www.flickr.com/photos/vancouverfilmschool/6046899067/
  48. 48. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity before social media Social media... Restricted by time, space, expedites creation of and culture. heterogeneous networks, but most people don’t take advantage of this. © 2014 David Teten. More at ffvc.com and teten.com How to grow Diversity in social media Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.
  49. 49. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity before social media Social media... Restricted by time, space, expedites creation of and culture. heterogeneous networks, but most people don’t take advantage of this. © 2014 David Teten. More at ffvc.com and teten.com How to grow Diversity in social media Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.
  50. 50. Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity before social media Social media... Restricted by time, space, and Value of heterogeneous human desire for homogeneity. networks increases. © 2014 David Teten. More at ffvc.com and teten.com How to grow Diversity in social media Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO.
  51. 51. Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch Co R S I N D = Your Character = Your Competence = Relevance of the relationship = Strength of your relationship = Information = Number of people = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © 2014 David Teten. More at ffvc.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)
  52. 52. Any questions ? Slides at ffvc.com/dating Sign up for updates at ffvc.com // @ffvc teten.com // @dteten © 2014 David Teten. More at ffvc.com and teten.com
  53. 53. Disclaimer This Presentation is for the exclusive use of the recipients to whom it is addressed. References to the “Presentation” includes any information which has been or may be supplied in writing or orally in connection with the Presentation or in connection with any further inquiries in respect of the Presentation. This Presentation is not intended to serve as basis for any investment decision. While the information contained in this Presentation is believed to be accurate, the Preparers have not conducted any investigation with respect to such information. The Preparers expressly disclaim any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from, this Presentation or any other written or oral communication transmitted to any interested party in connection with this Presentation so far as is permitted by law. In particular, but without limitation, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, estimates, forecasts, analyses or forward looking statements contained in this Presentation which involve by their nature a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied in this Presentation. By its acceptance hereof, each recipient agrees that none of the Preparers nor any of their respective Representatives shall be liable for any direct, indirect or consequential loss or damages suffered by any person as a result of relying on any statement in or omission from this Presentation, along with other information furnished in connection therewith, and any such liability is expressly disclaimed. Except to the extent otherwise indicated, this Presentation presents information as of the date hereof. The delivery of this Presentation shall not, under any circumstances, create any implication that there will be no change in the affairs of ff Venture Capital or HBS Alumni Angels after the date hereof. In furnishing this Presentation, the Preparers reserve the right to amend or replace this Presentation at any time and undertake no obligation to update any of the information contained in the Presentation or to correct any inaccuracies that may become apparent. This Presentation shall remain the property of ff Venture Capital and HBS Alumni Angels. This Presentation does not constitute a recommendation regarding the shares in ff Venture Capital or HBS Alumni Angels. No securities commission or regulatory authority in the United States or in any other country has in any way opined upon the accuracy or adequacy of this Presentation or the materials contained herein. This Presentation shall not form the basis of any contract. The distribution of this Presentation in certain jurisdictions may be restricted by law and, accordingly, recipients of this Presentation represent that they are able to receive this Presentation without contravention of any unfulfilled registration requirements or other legal restrictions in the jurisdiction in which they reside or conduct business.

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