Jason's Talk at Cal Tech on This Week in Startups #135

TWiST #135: Jason Speaks at Cal Tech


Jason recently spoke at California Institute of Technology’s Entrepreneurship Club to a group of students and entrepreneurs, offering advice, inspiration and some anecdotes to learn from.

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1:00-2:00 How many people in the crowd want to be entrepreneurs when you grow up?
2:00-3:30 Jason gives a brief history of his career as an entrepreneur.
3:30-5:30 The importance of ideas, action and iteration.
5:30-6:30 Why pivoting is underrated and hard work is paramount.
6:30-8:30 How many entrepreneurs here agree that it’s hard, lonely work?
8:30-10:30 Why Twitter is a great example of successful product iteration.
10:30-12:30 It’s not about the idea, it’s about the space.
12:30-15:00 How Jason learned the hard way that you can’t fundamentally change people and what to look for in startup employees. (Watch the clip.)
15:00-15:45 Why consensus can hurt a business.
15:45-19:30 The trend of investors looking for people who actually build the product (developers and designers).
19:30-22:15 Money is free--if you have a good idea.
22:15-25:00 Don’t underestimate the importance of a good domain name.
25:00-28:00 Jason’s past companies, Silicon Alley Reporter and Weblogs, Inc., and his current company, Mahalo.
28:00-30:30 Discovering that video was the differentiator in how well pages on Mahalo did.
30:30-35:30 Question from the audience: How do you make a company ok with failure?
35:30-38:00 Question from the audience: How do young people find mentors? (Watch the clip.)
38:00-40:00 The difference in the Gen Y mentality about winning and success.
40:00-42:00 Question from the audience: What’s the difference between an inventor and an entrepreneur?
42:00-46:45 Question from the audience: How do you build a team?
46:45-50:30 Question from the audience: What would you do differently next time? (Watch the clip.)
50:30-53:30 Why entrepreneurship isn’t for everyone and why you should just go for it.

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Jason: @jason
Cal Tech: @caltech

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Comments

[Cam Collins]

Wow! This presentation blew away your presentation in Europe (I believe it was in Germany). Likely because you felt right at home at Caltech (gotta make sure I spell it right - LOL). But like Manny, I agree that entrepreneurship isn't reserved for the 20-something set only. When I was in my twenties I didn't get it. I worked in the tech industry in my twenties and thirties, and really only got the web in 1999. I was fortunate enough to sell my company at the time to Interwoven (NASDAQ:IWOV) who had a good run in 1999 and 2000. 

The payout wasn't enough to buy my dream house in Belize, so I've been working in and on various businesses ever since. I've been taking swings as you say in the presentation. Am I washed up? Maybe...Let's face it as a forty something now, there are a ton of things I simply can't do - like play professional sports. But is being a successful entrepreneur one of them? Is it going to be harder? Abso-f@#$ing-lutely it will. And I totally get the "take a chance when you are in your 20s" thing because that is when you have the least amount to risk. I didn't take the chance. I played it relatively safe. I played it safe because I lacked confidence, street smarts and the wear withal to execute. Now as I approach my mid-forties I've overcome those demons and the entrepreneurial bug is buzzing louder than ever.

In one of my businesses, my other forty something partner and I talk all the time about how if we were in our twenties we could go faster and do so much more living off Raman noodles and playing BeerPong when we get bored. Like Manny we both have kids and need to be more careful in how we approach risk. Does that mean success will completely elude us? One of the things smart and attentive forty somethings do have is experience and the ability to look back at past mistakes, whether I made them or someone else did and say "I've seen this before - time to change course".

Thanks @jason for all you do. You are a big inspiration to us all!