Startups

Katie Rodan of Proactiv Solutions discusses a personal anecdote with a critical session of market research. The experience sent her team back to the drawing board to revamp a product for adult acne - after revealing that women surveyed didn't think they had acne and didn't care for the product's fragrance. Rodan also discusses her initial resistance to conduct the survey, and the tremendous benefits that it can yield for the entrepreneur.

Byers explains that smaller companies need to pay extra attention on how they spend their cash because if they run out of cash, it is game over for them. Byers uses the example of Palm Inc. to show how well the company managed their cash flow.

Byers believes that the impact of marketing is often underestimated by companies. He talks about how partnering is one of the keys to crossing the chasm between the early market and the mainstream market.

Byers goes over the essentials of a venture finance process: angel investors, corporate venture capital, boot strapping and the public. He also discusses the pros and cons of each of these pieces in this process.

Mark Zuckerberg, founder of TheFacebook, gives an example to demonstrate product development and experience at Facebook and talks about how their product has evolved with the company.

An early interview with Mark Zuckerberg at the dawn of Facebook's popularity unveils the opportunities that surface from a mammoth amount of page views and sticky user loyalty. A hot web property can reel in millions in ad revenue alone.

Davis talks about one of the biggest challenges he faced with Unitus: coming into an established industry that has been successful and showing that things can be done differently and better.

Davis believes that microfinance institutions can be profitable. This is a business opportunity with incredible social impact, he says.

Davis talks about how he got involved in micro credit and how it led to the formation of Unitus. He explains how Unitus is different form Grameen Bank, a pioneer in the field of microfinance. Unitus uses an Acceleration Model, a venture approach to do micro finance. This means they invest in programs around the world that offer micro loans and that have high growth potential to accelerate their growth.

Geoff Davis, founder and CEO of Unitus, explains the meaning of microfinance and the huge potential and impact the field has. He goes on to discuss the difference between microfinance and micro credit. He reveals that microfinance has a huge growth opportunity as it is potentially a five billion dollar market and is currently about a one billion dollar market.

Dunn talks about how the skills that she has acquired in a traditional company like Hewlett Packard will be useful in solving social problems in non-profit ventures.

Draper discusses why the DFJ Network was formed. The DFJ Network is looking for 'heroes' with passion and energy to lead a business to change the way the world works.

Brook Byers, partner at KPCB, talks about the diversity of the VC industry and uses a biological metaphor to compare the industry to an ecosystem.

Byers discusses the number of co-investors one should approach and suggests that while going to investors one should know about their investors very well.

Byers discusses the process and the time that it takes for an entrepreneur to earn a standing to the time when he might get financed.

Byers discusses the different ways in which venture capital firms size themselves and makes recommendations on how they should go about investing.

Byers believes that two to three co-investors is a good set for a young venture. An entrepreneur should balance between the number of investors and their minimum stake in the company.

Steve Fodor, co-founder of Affymetrix, talks about the importance of continuing the scientific research within a company despite a perceived monopoly of the field. The most important thing is not intellectual property, but development of good products.

Peter Seligmann, co-founder, chairman and CEO of Conservation International, talks about how he got interested in forestry. He discusses how Conservation International got started and the company's motto.

Seligmann talks about how a not-for-profit organization like Conservation International builds its credibility when interacting with governments of other countries.

Doerr talks about how Grameen Bank, started by Professor Muhammad Yunus, proved to be a creative solution to the never-ending problem of poverty for many small villages in Bangladesh. Doerr shares the story of finding this solution and the ideas behind how the bank came to be formed.

Doerr offers advice on pursuing initial VC funding, including how many firms to approach, how to evaluate the firms, and what kinds of questions to ask. He also reminds us to treat all negotiations with respect and fairness.

Fleury talks about how along with financial backing, VC's have a unique body of knowledge that is highly useful for anyone starting their own business.

The logic behind backing a company that does not charge anything for their product is sometimes hard to understand. Fenton explains the unique relationships between a venture capital firm and an open source company they fund.