Entrepreneur, Explorer, Angel.
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21TH November 2013
Choate - Uncategorized
Start Up // Choate… New York Wrap up
Start Up Choate in NYC was a blast last night, probably our best ever. I’m convinced that it’s the PEOPLE that make it great.
We did the Elevator pitch thing, and both Dhruv Sing (Savory!) and Beno Shell rocked their pitches. More on our Seedinvest site for those that are angels.
Then our panel continued the Chaos theme
One question from the audience was probably what many others were thinking: “do you know when it’s time to pull the plug on a growth strategy?” Beth chimed in that Fab expanded very quickly in Europe to beat out competitors. But they didn’t think about the most cost effective way to do so. Yank that ! I was quick to admit my startup mortality rate is 60%, and if I’m not taking zeros I’m not taking enough risks. One failure can inform the next success.
The Old School: Network! It was pretty cool to hear how much the school had helped the panel. Choate’s a connection that runs deeper than college I think. Alex has 10 @ChoateAlumni affiliated in some way with his company @ApplicoMobile. And the hardest worker on the panel (Beth!) credits her Choate with her most valued skill: doing more work than you thought possible!
And yes, we stumbled on this: Tech is hot, so why would you not have a tech Founder?
Krish pointed out that the CTO executes the vision… though they’re the back end, and they are vital. I wouldn’t have started Mojiva without Krish, and he knows it, everyday.
And what’s hot these days?
Well, it’s pretty clear Mobile is Eating the World (here’s the deck). Check it out! How did mobile sneak up on such a large share of the market so quickly? No explanation, aside from the fact that “the year of Mobile” has been hyped since 2001. It’s clearly now here though.
Grass is Greener
It was also interesting to remark I was hosting a panel with very young entrepreneurs who had raised hundreds of millions of dollars for their companies. Most would be entrepreneurs out there think that lots of capital would be great! So does this mean all happy days?… Beth says heck no, “you need to prove that you’re worth the capital you raised… and it’s a huge responsibility!”
Kris “when you have that much money on the table it makes the exit harder, and there’s a lot of people in the room with different ideas.”
I mentioned a few books in the Q&A. They can be found here. Our next stop is Wallingford, December 12th. See you there!
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