chasing  big ideas     Michael Baum      Founder & CEO SplunkPartner Rembrandt Venture Partners      michael@baum.com
what’s a big idea?
about me.      6 start-ups         1 IPO     5 acquisitions > 1,000 jobs created   > 100 millionaires$3.5B in wealth creat...
#6 is a charm.$250M           $3.4B  Splunk     Startups 1 to 5
what was different?
a big problem.>$500B spent annually manag
tons of research.      3 founders     5 prototypes      12 months     62 customers       $50,000    a lot of insights
App Logs Network  Traffic   Web   Logs   Server    Logs     User    Access    Security     Events BigData     VoIP    Audi...
build an “A” team.  “good enough” is not good enoughthe average hiring mistake costs $500k      50% of hires are mistakesg...
drive in reverse.
ignore competition.    picked a big problem
blow things up   (regularly)   .
Entrepreneurs are never satisfied, because          fulfillment comes fromparticipation, rather than reaching a fixed dest...
Startupfest 2012 - Chasing big ideas
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Startupfest 2012 - Chasing big ideas

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In 2003, along with co-founders Erik Swan and Rob Das, Michael Baum set out to solve a big problem. The world was filling up with machine data, and humans needed ways to mine through it quickly. Nearly a decade later, Splunk’s IPO gave it a market cap of $3B. There’s no doubt today that Big Data is big money; but how do you see that coming years in advance? Even today, it’s a confusing term. Ask ten people what “Big Data” means and you’ll likely get ten different answers. Splunk’s founding CEO will talk about chasing big ideas, growing a multi-billion-dollar business and changing the world – all starting with a simple idea.

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Startupfest 2012 - Chasing big ideas

  1. 1. chasing big ideas Michael Baum Founder & CEO SplunkPartner Rembrandt Venture Partners michael@baum.com
  2. 2. what’s a big idea?
  3. 3. about me. 6 start-ups 1 IPO 5 acquisitions > 1,000 jobs created > 100 millionaires$3.5B in wealth creation 25 years
  4. 4. #6 is a charm.$250M $3.4B Splunk Startups 1 to 5
  5. 5. what was different?
  6. 6. a big problem.>$500B spent annually manag
  7. 7. tons of research. 3 founders 5 prototypes 12 months 62 customers $50,000 a lot of insights
  8. 8. App Logs Network Traffic Web Logs Server Logs User Access Security Events BigData VoIP Audio Video Click Stream Order Data Customer Data a simple solution.SocialMedia
  9. 9. build an “A” team. “good enough” is not good enoughthe average hiring mistake costs $500k 50% of hires are mistakesgreat recruiters make fewer than 10% who are your recruiters? how do they recruit “A” people? how does your “A” team work?
  10. 10. drive in reverse.
  11. 11. ignore competition. picked a big problem
  12. 12. blow things up (regularly) .
  13. 13. Entrepreneurs are never satisfied, because fulfillment comes fromparticipation, rather than reaching a fixed destination. Entrepreneurship is not a job, nor even a calling but a hunger to change the world.

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