Archives For September 2013

“The last person [needed in a company] is the HR person. They’re the destroyer of companies.” Don Valentine

Interview of Tom Perkins and Don Valentine. Both venture capitalists founded two of the first VC firms in USA in 1972. Perkins founded Kleiner Perkins Caufield & Byers (KPCB), which invested in more than 500 companies in their fledgling stages, including AOL, Amazon, Citrix, Genentech y Google. Valentine Sequoia Capital, which then invested in Apple, Atari, Cisco, Youtube and others startups.

I want to ask forgiveness from my brother and all my HR friends for publishing this. I don’t completely agree with it, but the explanation the interviewee’s gives is very interesting. Valentine and Perkins were interviewed by TechCrunch Disrupt SF the 11th of September 2013. I have extracted the most interesting portions of this interview.

What kind of ideas did they liked most to invest in? What kind of entrepreneurs did they deal with?

Perkins explains that he invested “in the idea because bad people don’t have good ideas. I’d look at the back pages to see if the numbers were big, and then if they were I’d look at the front pages to see what the business was.” Continue Reading…

Dr_Martens,_black,_old

It is said that a startup has two options: raising funding or bootstrapping. Bootstrapping is in reference to the famous saying “pull yourself up by your bootstraps”. Bootstrapping in business means starting a business with the very little capital that entrepreneurs have, managing their companies with a lot of creativity instead of money.

Nowadays, it is a pity that bootstrapping is not a choice for many entrepreneurs, but the only option they have, due to the difficulty to raise money. Continue Reading…

FFF medium size

fff. Photo by Filipe Ferreira on Flickr used under a Creative Commons licence

A couple of years ago I attended a conference where I was struck by something that Honorio Ros, founder of the startup Laexperiencia.com, said, “being from a big family helped me as an entrepreneur”. He explained that thanks to his large extended family, he had convinced some of them to invest in his startup. He was sure that without the economic support from his family, he would not have been able to launch his startup.

The way Honorio received financing is known as the three F’s (or FFF), family, friends and fools. Continue Reading…