Rich Wong is a General Partner at Accel. He explains how global internet distribution channels have decoupled startup creation from physical presence in Silicon Valley.
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“And so I think it's a true renaissance that's been happening of Silicon Valley going from being a physical place to being, in some cases, an entrepreneurial mindset that's not physically based here.”
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More from Rich Wong
Opinion
Investing just to 'have a play' in hot sectors is bad advice
“So whether that's cryptocurrency, or Google Glass, or whatever the hot category is of that year, of that couple of years, I think it's not good advice to quote-unquote have a play in X category. Because if you are able to pick the best, that may be the company…”
Rich WongDec 4, 2017▶ 21:0220VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
Insight
VCs must maintain price discipline in categories with bounded upside
“That said, I think there are other companies that the category or the nature of the competitive set, you have to have some amount of price discipline in order to achieve true good returns. And I think those are in categories that you, there's just simply not a…”
Rich WongDec 4, 2017▶ 9:1520VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
Insight
Non-Bay Area markets offer better deal signal-to-noise ratios
“If you actually spend your time in Salt Lake, in Austin, in Dallas, in Seattle, other markets, and then of course, internationally, whether it's Finland or Australia or other markets, there actually is less noise in those areas relative to the amount of intere…”
Rich WongDec 4, 2017▶ 14:0020VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
Opinion
Most Silicon Valley startups make the mistake of scaling too quickly
“In general, I think most companies, especially in a capital rich VC environment in Silicon Valley, most of companies are largely make the mistake of stepping on the gas too quickly. And I think wasting precious capital or founder dilution, depending which way …”
Rich WongDec 4, 2017▶ 15:5520VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
Opinion
Restricting VC investments to driveable Silicon Valley startups is outdated
“I think it's pretty obvious now, whether it's companies like Spotify or Supercell or Atlassian or other companies of that form, that that is now an outdated view.”
Rich WongDec 4, 2017▶ 4:1720VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
Insight
VCs should spend 90% of their time pursuing high-bar distant deals
“Trying to have that high bar, that high standard is where you should spend 90% of your time, even if that company you identify as a long ways away from where you work or where you live.”
Rich WongDec 4, 2017▶ 7:3320VC: Accel GP, Rich Wong on When Is The Right Time To Scale A Startup, Optimising Initial vs Follow-On Investment Decision-Making & The Globalisation of VC In Recent Years
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