🚀Venture capitalists invest in great people and trust their reputation.
💡Having a large vision for the future of the company is crucial for attracting investors.
💼Business plans are not the determining factor for venture capitalists, but a clever idea can help.
📈The size of the market plays a significant role in attracting investments.
👥Having a team of great people is essential for success and adaptability.
Do venture capitalists invest based on business plans?
—Venture capitalists are more interested in investing in great people rather than business plans.
How important is having a large vision for the success of a company?
—Having a large vision is crucial as it helps attract investors and sets the foundation for long-term growth and success.
What role does a clever idea play in attracting investments?
—A clever idea can capture the attention of venture capitalists and make them more interested in investing in a company.
Why is the size of the market important for attracting investments?
—A large market size indicates potential for substantial returns on investment, making it more attractive to venture capitalists.
How important is having a team of great people for the success of a company?
—Having a team of great people is essential as they contribute to the success of the company and its ability to adapt and thrive in a competitive market.
00:03At 30 years old, without any business or marketing background, I decided to start a company.
00:17I bought a Mac to use the presentation software 'Persuasion' for creating a company presentation.
00:55I met with the other founders every day, but initially, there was nothing to do.
02:01We incorporated the company with the help of a lawyer and invested a small amount of money to price the shares.
02:19I bought a 20% stake in Nvidia for $200, which turned out to be a good deal.
03:02We never finished a business plan, but our reputation and relationships with successful individuals helped us gain trust from venture capitalists.
03:14Having a large vision for the company's future and a clever idea were important factors in attracting investments.
03:28The size of the market played a significant role in our ability to raise funds.
