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Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
Silicon Valley And Biased Trend V2
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Silicon Valley And Biased Trend V2

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  • 1. Think Different And be different Yang Chung ( 정양섭 )
  • 2. Agenda <ul><li>What is Silicon Valley </li></ul><ul><li>Why is it unique? </li></ul><ul><li>Fraternity of Geeks </li></ul><ul><li>Investment and reinvestment </li></ul><ul><li>Not all rosy </li></ul><ul><li>Current (biased) trend </li></ul>
  • 3. Disclaimer <ul><li>I have certain biases </li></ul><ul><ul><li>Silicon Valley </li></ul></ul><ul><ul><li>Startups </li></ul></ul><ul><ul><li>Internet and web applications </li></ul></ul><ul><li>I know little about development environment in Korea </li></ul><ul><li>No personal agenda but hope to change 1% of the audience </li></ul><ul><li>Occasional Ruby on Rails Hacker </li></ul><ul><ul><li>Hacker == a programmer who gets things done </li></ul></ul>
  • 4. Where is Silicon Valley? Source: Joint Venture Silicon Valley 2008 Index
  • 5. Some Statistics Area: 1,854 square miles Population: 2.49 million Foreign Born: 36% Origin: 57% Asia 32% Americas 9% Europe 1% Oceana 1% Africa Ethnic Composition 41% White, non-Hispanic 28% Asian, non-Hispanic 25% Hispanic; 3% Other 3% Black, non-Hispanic &lt;1% American Indian, Alaskan Native Source: Joint Venture Silicon Valley 2008 Index Adult Education Attainment 13% Less than high school 19% High School Grad 24% Some College 26% Bachelor’s Degree 18% Graduate or Professional Degree
  • 6. Median Income Source: Joint Venture Silicon Valley 2008 Index
  • 7. Income Distribution Source: Joint Venture Silicon Valley 2008 Index
  • 8. Value Added Source: Economy.com
  • 9. Silicon Valley Clones? <ul><li>Brazilian Silicon Valley - Campinas, Brazil </li></ul><ul><li>Mexican Silicon Valley - Jalisco, Mexico </li></ul><ul><li>Multimedia Super Corridor - Kuala Lumpur, Malaysia </li></ul><ul><li>Research Triangle - North Carolina </li></ul><ul><li>Route 128 - Massachusetts (known as the &amp;quot;Silicon Valley of the East Coast&amp;quot;) </li></ul><ul><li>Silicon Alley - New York, New York, Broadway from the Flatiron District to TriBeCa, and parts of Brooklyn </li></ul><ul><li>Silicon Forest - Portland, Oregon </li></ul><ul><li>Silicon Prairie - the region around Schaumburg, Illinois, Dallas, Texas, and Ames, Iowa </li></ul><ul><li>Silicon Sentier - France </li></ul><ul><li>Silicon Glen - Scotland </li></ul><ul><li>Silicon Hills - Texas, United States </li></ul><ul><li>Silicon Valley North - Kanata, Ontario, Canada and Ottawa, Canada </li></ul><ul><li>Silicon Valley of India - Bangalore, India </li></ul><ul><li>Wireless Valley - Stockholm, Sweden </li></ul>
  • 10. What is the Secret Sauce? <ul><li>Capita l </li></ul><ul><li>History </li></ul><ul><ul><li>Mentors, Experienced Entrepreneurs </li></ul></ul><ul><li>Institutions </li></ul><ul><li>Culture </li></ul><ul><ul><li>Attracts geeks, Dream big, It’s okay to fail, Create Value </li></ul></ul><ul><li>Infrastructure </li></ul><ul><ul><li>Office space, Lawyers, Accountants, Investment Bankers, Executive Recruiters, Marketing Consultants </li></ul></ul><ul><li>Luck </li></ul>
  • 11. Traitorous Eight Shockley Semiconductor Gordon Moore, Robert Noyce Jean Hoerni, Jay Last, Sheldon Roberts Amelco Jean Hoerni Eugene Kleiner
  • 12. Silicon Valley Transformation
  • 13. Founders are Engineers &amp; Start Early Age: 22 Age: 19 Age: 25 Age: 23 Age: 26 Engineer (America) Engineer (America) Engineer (Russia) Engineer (Ukrania) Engineer (Taiwan) Age: 28 Engineer (France-Iran)
  • 14. Serial Entrepreneurs Evan Williams Marc Andreessen Max Levchin
  • 15. Fraternity of Geeks – PayPal Mafia
  • 16. Fraternity of Geeks - SUN Vinod Khosla Andy Bechtolsheim Bill Joy Scott McNealy Granite Systems Kealia
  • 17. Fraternity of Geeks – Y-Combinator Paul Graham Has funded about ~80 startups Incubator Don’t trust anyone over 30
  • 18. Notable Venture Capitalist Firms
  • 19. Happiest Moment (One of) With Jessica Livingston, author of “Founders at Work”
  • 20. Commonalities among successful startups <ul><li>All started by an engineer(s) </li></ul><ul><li>Their original idea didn’t work out. </li></ul><ul><ul><li>It had to be changed multiple times </li></ul></ul><ul><li>Started out as a hobby or side project </li></ul><ul><ul><li>Missing tool or to fill one’s own needs </li></ul></ul><ul><li>Incredible emotional rollercoaster </li></ul><ul><ul><li>Many ups and downs </li></ul></ul><ul><li>Having a co-founder(s) helped a lot during down times </li></ul><ul><li>Relentlessly resourceful and frugal (Ramen Profitable) </li></ul><ul><li>Fate unknown until the last minute </li></ul>
  • 21. Common Advice to Startups <ul><li>Make something people want </li></ul><ul><ul><li>Best business model won’t work if no customers </li></ul></ul><ul><ul><li>If people love your product, it’s easy to monetize </li></ul></ul><ul><li>Fail Often, Fail Early </li></ul><ul><li>Iterate, iterate, iterate </li></ul><ul><li>Ideas are cheap and will change over startup’s life </li></ul><ul><li>Must have a co-founder(s) </li></ul><ul><li>Talk to at least 30 people a week about your idea </li></ul><ul><li>Start early </li></ul><ul><li>Valuation = $500K x engineers - $250K x biz/marketing </li></ul>
  • 22. Trend <ul><li>Small team (4~5), small fund ($100K or less), MacBooks </li></ul><ul><li>Rapid and agile development till beta/prototype (&lt; 4 months) </li></ul><ul><li>Little or no VC funding or VC becoming incubator </li></ul><ul><li>Open </li></ul><ul><ul><li>Google API, Facebook API, Twitter API, OpenSocial, OpenID, OAuth, GitHub, etc. </li></ul></ul><ul><li>Language/Architecture </li></ul><ul><ul><li>RESTful architecture, Ruby on Rails, Python and Django, Java and Clojure, CouchDB, etc. </li></ul></ul><ul><li>Cloud/Language-Specific hosting </li></ul><ul><ul><li>Amazon EC2, Engine Yard, Heroku, Google App Engine </li></ul></ul>
  • 23. Most Recent Example <ul><li>Mint.com was bought by Intuit for $170M (3 years) </li></ul><ul><li>Three founders: Aaron Patzer, Matt Snider, Poornima Vijayashanker </li></ul><ul><li>Started in Aaron’s apartment </li></ul><ul><li>All open source == Free </li></ul><ul><ul><li>MySQL, Hibernate, Tomcat on Apache, Yahoo’s YUI </li></ul></ul><ul><li>Free legal help for equity stake </li></ul><ul><li>Incubator-type shared office </li></ul><ul><li>Blog instead of advertising, No Search Engine Marketing </li></ul><ul><li>Team members from New Zealand, France, Tunisia, Armenia, Ukraine, Russia, Canada, Greece, and all over the U.S. </li></ul>
  • 24. Hockey Stick Growth - Facebook <ul><li>Current Number of Users: &gt;$300M (as of 9/15/2009) </li></ul><ul><li>Cash Flow Positive </li></ul>
  • 25. Hockey Stick Growth - Twitter Worldwide unique visitors: 21M in June 2009 (2,000% YoY growth)
  • 26. Recession is good for startups <ul><li>Many available talents </li></ul><ul><li>Cheap resources </li></ul><ul><ul><li>office space, professional services </li></ul></ul><ul><li>Accidental entrepreneurs </li></ul><ul><ul><li>Laid off or frustrated with more work and less people </li></ul></ul><ul><ul><li>Forced to be creative </li></ul></ul><ul><li>Less competition </li></ul><ul><li>Companies started in past recessions </li></ul><ul><ul><li>IBM, GM, GE, HP, Microsoft, Apple, Texas Instruments, Revlon, Disney, Intel, FedEx, Symantec, Procter &amp; Gamble, etc. </li></ul></ul>
  • 27. Not All Rosy <ul><li>9 out of 10 startups will fail, most of them within one year </li></ul><ul><ul><li>Must have one or more co-founders </li></ul></ul><ul><ul><li>Team is more important than an idea </li></ul></ul><ul><ul><li>Hard work </li></ul></ul><ul><ul><li>Need luck </li></ul></ul><ul><li>Venture Capitalists bet on 1 out of 10 companies being wildly successful </li></ul><ul><ul><li>Offsets other losses </li></ul></ul>
  • 28. Why Should You Care? <ul><li>You don’t have to care </li></ul><ul><li>Only one life to live and life is short </li></ul><ul><li>A chance to start a company diminishes as you get older and have more responsibilities (boy/girlfriend, wife, kids, etc.) </li></ul><ul><li>Taking a chance early makes you recover better in case of failure </li></ul><ul><li>More than one way to succeed in life </li></ul><ul><li>Dream big, Challenge the status quo, Be ambitious, and Have Fun </li></ul><ul><li>Make sure you fund other geeks when successful </li></ul>
  • 29. (Biased) Advice <ul><li>NO! </li></ul><ul><li>YES! </li></ul>Less drinking More hacking Less Local More Perspectives Less Walls More Open
  • 30. Challenge <ul><li>Host a Startup Weekend </li></ul><ul><li>What is a Startup Weekend? </li></ul><ul><ul><li>54 hours to go from idea to launch </li></ul></ul><ul><ul><li>Anyone can pitch an idea for two (2) minutes and form a team by Saturday morning </li></ul></ul><ul><ul><li>Teams present and demo their product in five (5) minutes to panelists and other teams on Sunday night </li></ul></ul><ul><ul><li>Nominal fee (~$30), which is used for providing food </li></ul></ul><ul><ul><li>Only needs a space from Friday night to Sunday night </li></ul></ul><ul><ul><li>Teams can continue or not after the event </li></ul></ul>

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