John Doerr, partner at Kleiner Perkins Caufield & Byers, talks about what distinguishes successful companies from all others. The two main factors are passionate founders and devotion to technical excellence.
Doerr views entrepreneurs as missionaries rather than mercenaries, and gives examples of both groups, including drive and paranoia (mercenary) and passion (missionary).
Doerr firmly believes that one of the keys to success is a strong partnership, rather than a lone entrepreneur forging ahead.
Doerr offers tips that are useful in building a strong team and sustaining its strength, including coaching and personal networking.
Doerr gives his list of what he feels are important new disruptive technologies. His first choice is wireless and his second is services for enterprises.
As a well-known champion of Google, Doerr describes some of his favorite services that Google offers.
Doerr talks about how Grameen Bank, started by Professor Muhammad Yunus, proved to be a creative solution to the never-ending problem of poverty for many small villages in Bangladesh. Doerr shares the story of finding this solution and the ideas behind how the bank came to be formed.
Doerr gives general career advice for those who are planning to start their own businesses. His tips include finding a mentor, networking, and spending some time in a sales or service position.
Doerr talks about how many students on the eve of graduation set their sights on becoming a venture capitalist. He believes the path to being a great venture capitalist begins with being a great entrepreneur.
When asked what the future of technology and venture capital will look like, Doerr frames it as career advice for his daughters: learn Mandarin and earn a degree in a biotechnology related field.
Doerr offers advice on pursuing initial VC funding, including how many firms to approach, how to evaluate the firms, and what kinds of questions to ask. He also reminds us to treat all negotiations with respect and fairness.