E-commerce startup launch costs fell from $30M+ to under $2,000
Nick Beim · 20 VC 064: Finding Exceptional People with Big Ideas with Nick Beim, Partner @ Venrock · Aug 19, 2015 · at 21:05
Nick Beim, partner at Venrock, explains how open-source software and cloud infrastructure dramatically lowered startup launch costs.
0:00 / 0:09exact quote · 9.6s
720p mp4 · rendered on demand · StarZero watermark
“If you wanted to start an e-commerce firm, it would cost 30, forty million dollars. You'd need 30 MIT engineers. Today, you can do it over a weekend for less than 2000”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Nick Beim
Beim: It remains harder for female entrepreneurs to raise VC funding
“In direct answer to your question, I think it still is harder for female entrepreneurs to raise money, and it's sort of an uncomfortable truth in the industry, but I do think it's important to call out”
Beim: Gilt Groupe could not have succeeded equally on the West Coast
“Having vested in guilt when it was just three people, I can promise you could not have built that company to the same degree of success in the West Coast, because, you know, all of the fashion brands are in New York, all of the great merchandising talent, desi…”
Nick Beim: New York is by far the most exciting East Coast startup hub
“I think Boston is still great at a number of areas, but I think New York has really become, by a significant margin, the most exciting startup hub on the East Coast.”
Dataminer detected Bin Laden's death 28 minutes before Bloomberg and NYT
“So for example, they had identified the assassination of Bin Laden 28 minutes before Bloomberg in the New York Times.”
Beim: A $60B pipeline of successful female-founded tech companies exists
“There is a pipeline, and I've actually done some research on this and wrote a blog on it, it's about a sixty billion dollar pipeline of very successful female-founded companies, including Epic Systems, Theranos, Eventbrite, Howes, Guild, many others.”
Beim: Major financial platforms will offer social impact funds within five years
“And I, my strong bet is that these Types of metrics will evolve and that say in the next five years, many major institutional investors and every major consumer internet platform like Fidelity or personal capital will offer access to some kind of social impact…”