GSV Founder Michael Moe discusses what it takes for success in the Global Silicon Valley in his powerful opening keynote at Pioneer Summit 2015.

1. The Power of
Pioneers
MICHAEL MOE, CFA
Founder, GSV
@michaelmoe

2. WELCOME 2015 GSV Pioneer Summit!

3. Wicked Issues Facing Humanity

4. $4.5 B+
private funding
raised
1,000+
Attendees
100
Speakers

5. Ron Johnson

6. Anne
Wojcicki

7. Michael Abbott

8. Ira Ehrenpreis

9. Phil Libin

10. Guy Kawasaki

11. GLOBAL SILICON VALLEY
Hall of Fame

12. Bill Campbell
Coach of the Valley

13. Larry Sonsini
Counsel to Titans

14. Diane Greene
Technology Maverick

15. Dick Kramlich
Venture Capital
Trailblazer

16. Mike Homer
(in memoriam)
Creative Force of
Nature

17. We “Open” at the Close
We won’t have a closing, but rather an opening to conversations and relationships for the coming year to transform industries.

18. Megabots
Party

19. Sustainability MobileBig DataEdTech Games

22. 50 cities map

23. Los
Altos
Palo
Alto
Atherton
Redwood City
San Mateo
Millbrae
Half
Moon Bay
South San
Francisco
SFO
San Francisco
Foster
City
Woodside
Oakland
THE BUSINESSES OFTHE BUSINESSES OF
SILICON VALLEY
Cupertino
Sunnyvale
Milpitas
Fremont
Mountain
View
San Jose
twitter
Venture capitalists are people
too…most of them anyway.

24. Phrases to avoid in a pitch
“
”
We’re the Uber for ___.

25. Phrases to avoid in a pitch
“
”
We’re not afraid to pivot.

26. Phrases to avoid in a pitch
“
”
This is the holy grail.

27. 50 cities map
the
SILICON VALLEY
PARKING GARAGE
TESLA MODEL S
• Signature car of the
Valley and the CEO’s car,
usually parked next to
the CFO’s Tesla
• Combines the make and
price of a Lambo with
TOYOTA PRIUS
• The workingperson’s car
• Easy to park, affordable,
efficient, all in a lunch-
box shape
• So average and
inconspicuous they are a
BMW M3
• Even if drivers are kind
environmentalists and
volunteer at homeless
shelters, passersby still
think he is a “show-offy,
wealth obsessed d-bag”
SILICON VALLEY
PARKING GARAG
TESLA MODEL S TOYOTA PRIUS

28. Erlich Bachman’s
Guide to Business
“
”
We’ll call you when we
want pleated khakis.

29. Erlich Bachman’s
Guide to Business
“
”
You just brought
shit to a piss fight.

30. Every day in
America 1,100
new businesses
are formed.
Source: Gallup, U.S. Census Bureau

31. Every day in
America 1,300
businesses fail.
Source: Gallup, U.S. Census Bureau

32. In 2014, Venture
Capitalists invested in
4,356 companies.
Source: NVCA, PwC

33. In 2014, just 115 venture-
backed companies went
public….
Source: Thomson Reuters, NVCA

34. …and that was the best
year since 2000.
Source: Dow Jones Venture Source, Fenwick & West

35. 20% Chance Company
Survives First 3 Years

36. What kind of nut
would start a
business?

37. Name that “Nut”

38. Lost job in ’32

39. Defeated in race for State
Legislature in ’32

40. Failed in business ‘33

41. He had a nervous
breakdown in ’41

42. Defeated in races for:
Congress in ‘43
Senate in ‘55
Vice President in ‘56
Senate in ‘58

43. And the answer is…

45. Teachers told him he was
“too stupid to learn anything”

46. Fired from his first two jobs for
lack of productivity

47. Thomas Edison

48. $256 Billion Market Cap

49. He was fired by a newspaper editor
because he "lacked imagination
and had no good ideas"

50. Launched film studios in 1920 and
1921… both went bankrupt

52. $173 Billion Market Cap

54. $208 Billion
Market Cap

55. “In order to earn better than a
‘C’, the idea must be feasible.”
-Yale professor response to a
paper he submitted in 1965

57. Wilson turned FedEx’s last $5,000
into $27,000 at the Black Jack table

58. Whatever it Takes

59. $41 Billion Market Cap

60. Dyslexic

61. Turned down by 53 banks for a
business loan

63. Founded 8
$1 Billion Dollar Businesses

64. College dropout

65. Dumped from the
company he founded

66. Next business was
a near failure

68. Largest Market Cap in the World

69. Fired as CEO while on
vacation

70. Spent every dime he had to
keep his next company afloat

71. Other company he founded
literally crashed and burned

73. $32 Billion Market Cap

74. $12 Billion Valuation

75. Moore’s Law 50th
Anniversary

77. Moore’s Law

78. 2000 2015
$0.04
$7.03
Cost of Computing (per MM transistors)
Source: Deloitte
98% decline

79. 2000 2015
$0.02
$4.77
Cost of Storage (per GB)
Source: Deloitte
99% decline

80. 1990: $20K Today: $1
Source: Deloitte

81. Global Internet Users (billions)
1996 1999 2002 2005 2008 2011 2015
3.1
2.2
1.5
1.0
0.7
0.3
0.1
21% CAGR
Source: Internet Live Stats

82. 2.0 B+ Smart Phone Users
Source: eMarketer

83. 2012 2013 2014 2015 (P) 2016 (P) 2017 (P)
270
225
180
140
100
70
Android and iOS App Downloads (billions)
Source: Gartner
31% CAGR

84. Austin

85. Boston

86. Chicago

87. Sao Paulo

88. Mumbai

89. Shanghai

90. Dubai

91. Global Silicon Valley

92. ImagiNation

93. Founded: 2004

94. Source: Facebook, World Bank
Population Size
1.5B 1.24B1.35B

95. Founded: 1921

96. Founded: 2009

97. Market Value: $51 Billion

98. St. Peter ’s Sq uare : 2 0 0 5

99. St. Peter ’s Sq uare : 2 0 1 3

100. Founded: 1888

101. Market Value: Bankrupt

102. Founded: 2011

103. Market Value: $15 Billion

104. Founded: 1957

105. Market Cap: $7 Billion

106. Founded: 2008

107. Market Value: $25 Billion

108. Things change…

109. U.S. Workforce Breakdown: 1800
95%
5%
Agriculture
Other
Source: U.S. Bureau of Labor Statistics, GSV Asset Management

110. Life Expectancy 1800: 37

111. U.S. Workforce Breakdown: 1900
42%
30%
28%
Services & Information
Agriculture Industrial
Source: U.S. Bureau of Labor Statistics, GSV Asset Management

112. PLAY LEARN WORK RETIRE
0-5 25-65 65+5-25
Old System
1900

114. “As GM Goes, So Goes the
Nation.”
-Charles Wilson
CEO, General Motors (1953)

115. $0
$25
$50
$75
$100
2000 2001 2002 2003 2004 2005 2007 2008 2009
GM Share Price, 2000-2009
Source: CapitalIQ

117. Only 12% of the Companies
on the 1955 List Remain

118. Since 1990, Fortune 500
Lost 25 Million Jobs…

119. 75 Million Jobs Created by
New Businesses

120. U.S. Workforce Breakdown: 2020
1%
95%
4%
Services & Information
Industrial
Agriculture
Source: U.S. Bureau of Labor Statistics, GSV Asset Management

121. Today: 30% of Newborns Will Live to be 100
Source: New York Times

122. Millennials’
Projected
Lifetime
Careers: 15+
Source: Forbes, U.S. Bureau of Labor Statistics

123. “Siri, make
me a
sandwich.”

124. PLAY WORK RETIRE?
0-5 JOB
LEARN
SCHOOL JOB JOB JOB
New System

125. ENTREPRENEUR

126. As the entrepreneur
goes, so goes the
Global Silicon Valley

127. Thank You!
@michaelmoe
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