Ron Conway at Startup School 2013 | Video Wiz

Summary

Ron Conway, a prominent investor, discusses his experiences investing in successful startups such as Twitter, Facebook, Snapchat, and Pinterest. He highlights the importance of user feedback and the challenge of keeping up with rapid growth. Conway also mentions his early involvement with Facebook through his relationship with Sean Parker and shares Mark Zuckerberg's ambitious vision for the company's future.

Ron Conway invested in Twitter after his previous investment in a podcasting company called Audio failed.
Evan Williams, the founder of Audio, gave all the investors their money back, which impressed Conway.
Conway decided to invest in Twitter without even knowing what the company did.
Conway discusses his investment strategy and the success of social networking apps like Facebook, Twitter, and Snapchat.
He believes that social apps are changing the way people communicate and sees a huge opportunity for more companies in this space.
Conway mentions that not all companies in this space will explode, but the founders who keep iterating have the potential for success.
He mentions Ben Silbermann of Pinterest as an example of a founder who had a long road to success.
Conway discusses his involvement with SV Angel and how they discovered and invested in Pinterest.
He describes Ben Silbermann, the founder of Pinterest, as a shy and thoughtful entrepreneur who had a calming effect on his team.
Conway emphasizes the importance of staying close to users, iterating on the product, and having a focused and calm approach as an entrepreneur.
The interview discusses the importance of focusing on building a great product and user satisfaction, rather than being distracted by outside factors.
It also touches on the role of introductions and relationships in bootstrapping growth for startups.
Funding and M&A transactions are mentioned as common hard problems that Y Combinator startups face, with Ron Conway providing assistance in these areas.
The interview explores the mistakes founders make in fundraising, emphasizing the importance of finding investors who can add the most value.
The example of Airbnb and its successful fundraising efforts is mentioned.
Ron Conway shares his experience with Airbnb's financing and emphasizes the need to select an investor who adds value to the company.
He advises entrepreneurs to get a term sheet as soon as possible to create a sense of urgency among investors.
Conway highlights the significance of sending a confirming email to solidify agreements and avoid misunderstandings.
He mentions that many transactions fail due to a lack of written commitment and emphasizes the importance of having a clear record of agreements.
Conway discusses the importance of focusing on the product and making decisive decisions when building a startup.
He emphasizes the need for founders to prioritize product development over distractions and to hire and fire quickly to maintain company morale.
Conway discusses the importance of being decisive and having a clear vision as an entrepreneur.
He emphasizes the need for team-building skills and leadership qualities, even in the early stages of a startup.
Conway mentions the growth and maturation process of entrepreneurs, using Jack Dorsey as an example.
He highlights the changes in the startup landscape over the years, including the lower cost of starting a company and the increased willingness of investors to take risks.
They discuss the shift from web to mobile, the importance of design and user interface in today's technology landscape, the migration of social companies to cities, and the satisfaction of watching entrepreneurs mature and adapt to rapid growth.

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