Silicon Valley And Biased Trend V2
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Silicon Valley And Biased Trend V2 Presentation Transcript

  • 1. Think Different And be different Yang Chung ( 정양섭 )
  • 2. Agenda
    • What is Silicon Valley
    • Why is it unique?
    • Fraternity of Geeks
    • Investment and reinvestment
    • Not all rosy
    • Current (biased) trend
  • 3. Disclaimer
    • I have certain biases
      • Silicon Valley
      • Startups
      • Internet and web applications
    • I know little about development environment in Korea
    • No personal agenda but hope to change 1% of the audience
    • Occasional Ruby on Rails Hacker
      • Hacker == a programmer who gets things done
  • 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 <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?
    • Brazilian Silicon Valley - Campinas, Brazil
    • Mexican Silicon Valley - Jalisco, Mexico
    • Multimedia Super Corridor - Kuala Lumpur, Malaysia
    • Research Triangle - North Carolina
    • Route 128 - Massachusetts (known as the &quot;Silicon Valley of the East Coast&quot;)
    • Silicon Alley - New York, New York, Broadway from the Flatiron District to TriBeCa, and parts of Brooklyn
    • Silicon Forest - Portland, Oregon
    • Silicon Prairie - the region around Schaumburg, Illinois, Dallas, Texas, and Ames, Iowa
    • Silicon Sentier - France
    • Silicon Glen - Scotland
    • Silicon Hills - Texas, United States
    • Silicon Valley North - Kanata, Ontario, Canada and Ottawa, Canada
    • Silicon Valley of India - Bangalore, India
    • Wireless Valley - Stockholm, Sweden
  • 10. What is the Secret Sauce?
    • Capita l
    • History
      • Mentors, Experienced Entrepreneurs
    • Institutions
    • Culture
      • Attracts geeks, Dream big, It’s okay to fail, Create Value
    • Infrastructure
      • Office space, Lawyers, Accountants, Investment Bankers, Executive Recruiters, Marketing Consultants
    • Luck
  • 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 & 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
    • All started by an engineer(s)
    • Their original idea didn’t work out.
      • It had to be changed multiple times
    • Started out as a hobby or side project
      • Missing tool or to fill one’s own needs
    • Incredible emotional rollercoaster
      • Many ups and downs
    • Having a co-founder(s) helped a lot during down times
    • Relentlessly resourceful and frugal (Ramen Profitable)
    • Fate unknown until the last minute
  • 21. Common Advice to Startups
    • Make something people want
      • Best business model won’t work if no customers
      • If people love your product, it’s easy to monetize
    • Fail Often, Fail Early
    • Iterate, iterate, iterate
    • Ideas are cheap and will change over startup’s life
    • Must have a co-founder(s)
    • Talk to at least 30 people a week about your idea
    • Start early
    • Valuation = $500K x engineers - $250K x biz/marketing
  • 22. Trend
    • Small team (4~5), small fund ($100K or less), MacBooks
    • Rapid and agile development till beta/prototype (< 4 months)
    • Little or no VC funding or VC becoming incubator
    • Open
      • Google API, Facebook API, Twitter API, OpenSocial, OpenID, OAuth, GitHub, etc.
    • Language/Architecture
      • RESTful architecture, Ruby on Rails, Python and Django, Java and Clojure, CouchDB, etc.
    • Cloud/Language-Specific hosting
      • Amazon EC2, Engine Yard, Heroku, Google App Engine
  • 23. Most Recent Example
    • Mint.com was bought by Intuit for $170M (3 years)
    • Three founders: Aaron Patzer, Matt Snider, Poornima Vijayashanker
    • Started in Aaron’s apartment
    • All open source == Free
      • MySQL, Hibernate, Tomcat on Apache, Yahoo’s YUI
    • Free legal help for equity stake
    • Incubator-type shared office
    • Blog instead of advertising, No Search Engine Marketing
    • Team members from New Zealand, France, Tunisia, Armenia, Ukraine, Russia, Canada, Greece, and all over the U.S.
  • 24. Hockey Stick Growth - Facebook
    • Current Number of Users: >$300M (as of 9/15/2009)
    • Cash Flow Positive
  • 25. Hockey Stick Growth - Twitter Worldwide unique visitors: 21M in June 2009 (2,000% YoY growth)
  • 26. Recession is good for startups
    • Many available talents
    • Cheap resources
      • office space, professional services
    • Accidental entrepreneurs
      • Laid off or frustrated with more work and less people
      • Forced to be creative
    • Less competition
    • Companies started in past recessions
      • IBM, GM, GE, HP, Microsoft, Apple, Texas Instruments, Revlon, Disney, Intel, FedEx, Symantec, Procter & Gamble, etc.
  • 27. Not All Rosy
    • 9 out of 10 startups will fail, most of them within one year
      • Must have one or more co-founders
      • Team is more important than an idea
      • Hard work
      • Need luck
    • Venture Capitalists bet on 1 out of 10 companies being wildly successful
      • Offsets other losses
  • 28. Why Should You Care?
    • You don’t have to care
    • Only one life to live and life is short
    • A chance to start a company diminishes as you get older and have more responsibilities (boy/girlfriend, wife, kids, etc.)
    • Taking a chance early makes you recover better in case of failure
    • More than one way to succeed in life
    • Dream big, Challenge the status quo, Be ambitious, and Have Fun
    • Make sure you fund other geeks when successful
  • 29. (Biased) Advice
    • NO!
    • YES!
    Less drinking More hacking Less Local More Perspectives Less Walls More Open
  • 30. Challenge
    • Host a Startup Weekend
    • What is a Startup Weekend?
      • 54 hours to go from idea to launch
      • Anyone can pitch an idea for two (2) minutes and form a team by Saturday morning
      • Teams present and demo their product in five (5) minutes to panelists and other teams on Sunday night
      • Nominal fee (~$30), which is used for providing food
      • Only needs a space from Friday night to Sunday night
      • Teams can continue or not after the event