How what I do helps make the world a better place
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How what I do helps make the world a better place
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Re: How what I do helps make the world a better place
#2My goodness, a VC has never, not once, changed the world. Unless they were an entrepreneur first.
Re: How what I do helps make the world a better place
#3Entrepreneurs don't NEED VCs, but a VC can't do anything without entrepreneurs seeking investment.
Re: How what I do helps make the world a better place
#4Some percentage of entrepreneurs get funded, some percentage of those actually make it. You need both, but there are fewer VCs than entrepreneurs. Therefore VCs have more reach even though they don't directly effect change. The potential of the change that happens is driven by the entrepreneurs of course. Trying to fit that into a "who's more important" hierarchy is just wanking. Reality doesn't fit in such a simple model.
Re: How what I do helps make the world a better place
#5Some percentage of entrepreneurs get funded, some percentage of those actually make it. You need both, but there are fewer VCs than entrepreneurs. Therefore VCs have more reach even though they don't directly effect change. The potential of the change that happens is driven by the entrepreneurs of course. Trying to fit that into a "who's more important" hierarchy is just wanking. Reality doesn't fit in such a simple…
You misunderstand the question posed: who has more power? For instance, all entrepreneurs need customers, but not all customers need entrepreneurs. So, customers have more power to change the world? Of course not.
Re: How what I do helps make the world a better place
#6My goodness, a VC has never, not once, changed the world. Unless they were an entrepreneur first.
That's a massive oversimplification that ignores that everyone who has changed the world had lots of help doing it.
Larry and Sergey changed the world. I suspect that their path was significantly easier because they had help from Andy Bechtolsheim, John Doerr, and Michael Moritz - to say nothing of Craig Silverstein, Urs Hoezle, Amit Patel, Jeff Dean, Sanjay Ghemawat, Paul Buchheit, Marissa Mayer, and the hundreds of other early Google employees.
Re: How what I do helps make the world a better place
#7Some percentage of entrepreneurs get funded, some percentage of those actually make it. You need both, but there are fewer VCs than entrepreneurs. Therefore VCs have more reach even though they don't directly effect change. The potential of the change that happens is driven by the entrepreneurs of course. Trying to fit that into a "who's more important" hierarchy is just wanking. Reality doesn't fit in such a simple…
You misunderstand the question posed: who has more power? For instance, all entrepreneurs need customers, but not all customers need entrepreneurs. So, customers have more power to change the world? Of course not.
Well, in aggregate, yes, the customer's have the most power to change the world. The world can't change without people driving the change. A new company's success is directly tied to how many customers need what the company is selling.
Customers have the power to buy a solution. VCs have the power to fund a solution. An entrepreneur figures out what customers need and a way to provide that. And at the same time, also figures out how to get this venture funded. It's their position at the intersection, connecting the otherwise-unconnected dots, that gives them the power to really make something big happen.
EDIT: perhaps a better way of expressing what I'm trying to say is that taking the step to become an entrepreneur after seeing a problem is the most direct way to try to actually change the status quo and fix that problem.
Re: How what I do helps make the world a better place
#8Entrepreneurs, duh. There are lots of ways to get money.
Re: How what I do helps make the world a better place
#9"An entrepreneur is an enterprising individual who builds capital through risk and/or initiative."
According to this definition, a VC is an entrepreneur. If that is the case, then it would seem entrepreneurs would have more power to change the world as VC's are a subset of entrepreneurs. :)
Re: How what I do helps make the world a better place
#10My goodness, a VC has never, not once, changed the world. Unless they were an entrepreneur first.
That's a massive oversimplification that ignores that everyone who has changed the world had lots of help doing it. Larry and Sergey changed the world. I suspect that their path was significantly easier because they had help from Andy Bechtolsheim, John Doerr, and Michael Moritz - to say nothing of Craig Silverstein, Urs Hoezle, Amit Patel, Jeff Dean, Sanjay Ghemawat, Paul Buchheit, Marissa Mayer, and the hundreds of…
Sure, but ...
I think the main differentiator is the degree to which the help is generic—if person X could have been easily replaced by hundreds of others, X was probably not all that crucial to changing-the-world-process-Y even if they provided a great deal of assistance to Y.
For instance, the people who made the food Larry and Sergey ate while hacking late all those nights, had a very direct effect on the creation of Google: they kept the creators alive! But food providers are easily replaceable (cold as that sounds) in most cases, so it seems a little bit silly to say that the delivery guy for Sergey's favorite chinese takeout "changed the world."
So when it comes to VCs, it seems the relevant question is: absent a given VC, how easily could the entrepreneur secure funding elsewhere? A very, very, risky project that requires tons of money may indeed have an extremely difficult time raising enough funding, in which case the role of a VC that "takes the leap" is much more crucial than it might be otherwise. In other cases, VCs may be more akin to interchangeable service providers.