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the evolution of the private market - entrepreneur expo

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Slides for my keynote at Maryland's Entrepreneur Expo with thoughts on how tech companies and investors can help with economic development.

Slides for my keynote at Maryland's Entrepreneur Expo with thoughts on how tech companies and investors can help with economic development.

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  • 1. @paulsingh # THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS) @paulsingh
  • 2. @paulsingh # 500 STARTUPS
  • 3. @paulsingh A (R)EVOLUTION IN THINKING #
  • 4. @paulsingh EARLY STAGE STARTUPS HAVE CHANGED #
  • 5. @paulsingh #E2E13 # CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING STARTUP COSTS LOWER THAN EVER BUT SCALING STILL COSTS MONEY
  • 6. @paulsingh #E2E13 # WEB GETS BIGGER. WORLD GETS SMALLER.
  • 7. @paulsingh #E2E13 # TRACTION IS THE NEW INTELLECTUAL PROPERTY PLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE. NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
  • 8. @paulsingh #E2E13 # CAPITAL INCREASINGLY COMMODITIZED RISE OF THE ANGELS, YO!
  • 9. @paulsingh #E2E13 # NEW REALITY: MONEY FOLLOWS FOUNDERS RISE OF THE ENTREPRENEURS, YO!
  • 10. @paulsingh # SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 11. @paulsingh # SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 12. @paulsingh # TRANSPARENCY IS SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 13. @paulsingh # WALL STREET BEAT US TO IT
  • 14. @paulsingh #
  • 15. @paulsingh # “ UBS PROPRIETARY SATELLITE PARKING LOT FILL RATE POINTS TO AN INTERESTING CADENCE INTRA-QUARTER AND POTENTIAL UPSIDE TO OUR VIEW.
  • 16. @paulsingh #
  • 17. @paulsingh # “ TWICE A WEEK A SMALL HELICOPTER CIRCLES OVER CUSHING’S TANK FARMS ON AN INDUSTRY SPYING MISSION
  • 18. @paulsingh # WALL STREET ISN’T ALONE THESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO FERTILIZATION LENDING, PAYDAY LOANS, SUBPRIME AUTO LENDING, HOME/PERSONAL/AUTO INSURANCE AND MORE.
  • 19. @paulsingh # IT TURNS OUT, WE CAN DO IT, TOO SURPRISE!
  • 20. @paulsingh + “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA. #
  • 21. @paulsingh # WE CAN DO IT, TOO.
  • 22. @paulsingh # WE CAN DO IT, TOO.
  • 23. @paulsingh # WE’RE DOING IT, TOO.
  • 24. @paulsingh #
  • 25. @paulsingh # “ VENTURE CAPITAL IS OPEN TO ATTACK BY DISRUPTIVE NEW BUSINESS MODELS AND TECHNOLOGY. -- NAVAL RAVIKANT (@naval)
  • 26. @paulsingh # indicate.io
  • 27. @paulsingh # indicate.io
  • 28. @paulsingh EARLY STAGE VC IS CHANGING HAS CHANGED #
  • 29. @paulsingh # STATE OF THE ART IN EARLY STAGE INVESTING IS NOT VERY SOPHISTICATED
  • 30. @paulsingh # UNBUNDLING OF ADVICE, CONTROL AND MONEY
  • 31. @paulsingh # USED TO BE ABOUT CAPITAL, DEALFLOW AND JUDGEMENT TODAY, IT’S ABOUT ACCESS.
  • 32. @paulsingh #
  • 33. @paulsingh # INCREASINGLY ABOUT DEAL SELECTION, NOT DEAL SOURCING. IT’S 2013, YO.
  • 34. @paulsingh # indicate.io
  • 35. @paulsingh # (500) CHECKLIST Product solves a problem for a specific target customer Capital-efficient businesses - operational @ <$1M funding Primarily internet-based distribution - search, social, mobile, local Simple revenue models - transactions, subscriptions or affiliate Functional prototype before investment (or previous success) Small but measurable usage - some customers, early revenue Small but cross-functional team - engineer, design/UX, marketing
  • 36. @paulsingh # (NEW) FINANCINGS Standardized terms No fixed amounts, no closings, no leads Continuous, not discrete rounds Prices beginning to float No Board seats at the earliest stage Herd mentality and oversubscriptions
  • 37. @paulsingh # THE FIRST CHECK SHOULD BE SMALL AND FAST DOUBLE DOWN HEAVY IF THE COMPANY SURVIVES INTO THE NEXT ROUND
  • 38. @paulsingh #E2E13 # RISK AND UNCERTAINTY ARE NOT THE SAME
  • 39. @paulsingh # THE BUSINESS OF INVESTING IS ABOUT CHOOSING THE LEAST-WORST OPPORTUNITY NOT TRYING TO PREDICT THE NEXT GOOGLE, FACEBOOK OR LINKEDIN.
  • 40. @paulsingh # ECONOMIC DEVELOPMENT HAS CHANGED
  • 41. @paulsingh THE AGE OF THE INDUSTRIAL CITY IS OVER #
  • 42. @paulsingh # NOW POSSIBLE TO BUILD BILLION DOLLAR COMPANIES IN T-SHIRTS FROM A COUCH
  • 43. @paulsingh # FROM ANYWHERE
  • 44. @paulsingh # NEAR PERFECT CORRELATION BETWEEN URBANIZATION AND PROSPERITY
  • 45. @paulsingh # NEAR PERFECT CORRELATION BETWEEN PRESENCE OF SMALL FIRMS AND THE LATER GROWTH OF A REGION
  • 46. @paulsingh # PROXIMITY IS VALUABLE
  • 47. @paulsingh # MODERN ECONOMIC DEV ! PEOPLE > STRUCTURES
  • 48. @paulsingh # INVESTORS: INVEST OUTSIDE YOUR REGION, BRING THE BEST FOUNDERS TO YOUR CITY
  • 49. @paulsingh HUGE OPPORTUNITY AT THE POST-SEED, PRE-A LEVEL #
  • 50. @paulsingh # “ BY ITS NATURE, THE INTERNET UNDERMINES ANYONE WHOSE STATUS DEPENDS ON PRIVILEGED ACCESS TO INFORMATION. -- MICHAEL LEWIS
  • 51. @paulsingh # THE PRIVATE MARKET IS BECOMING MORE ACCESSIBLE.
  • 52. @paulsingh # THE PRIVATE MARKET IS BECOMING MORE TRANSPARENT.
  • 53. @paulsingh # Demo Day Videos ⟹ livestream.com/500startups Sample Pitch Decks ⟹ slideshare.net/500startups Venture Capital 101 ⟹ venturehacks.com/archives Investor Thoughts: Brad Feld ⟹ feld.com Fred Wilson ⟹ avc.com Chris Dixon ⟹ cdixon.org Mark Suster ⟹ bothsidesofthetable.com angel.co/valuations and angel.co/salaries
  • 54. @paulsingh # YOUR KEY TAKEAWAYS Focus on Traction. Learn to Communicate and Inspire.
  • 55. @paulsingh ALSO... # Distribution > Product Tactics > Strategy Notability > Credibility Get on AngelList Raise 12-18+ months of funding Learn the basics of VC economics Don’t confuse due diligence with progress & probability... Shameless plug: indicate.io
  • 56. @paulsingh # THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS) LEARN MORE: bit.ly/dashboard-weekly @paulsingh

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