2 posts tagged “tc50”
Have you ever wondered what it takes to be a successful Silicon Valley CEO? We'll, recently at the TechCrunch50 conference, I was fortunate to hear from some of the best in the industry share their thoughts. Here are just a few ideas that were discussed.
Peter Thiel suggested that the best predictor to a startup success, is low CEO pay. He says:
The lower the CEO salary, the more likely it is to succeed.
The CEO’s salary sets a cap for everyone else. If it is set at a high level, you end up burning a whole lot more money. It aligns his interest with the equity holders. But [beyond that], it goes to whether the mission of the company is to build something new or just collect paychecks.
In practice we have found that if you only ask one question, ask that.
Now, that's only if you could ask one question - so in that context, it does make sense... and I would agree.
Using a different filter from Chris Sacca (Venture Investor, Private Equity Principal, Advisor), he suggested a list of life events that might act as a good filter.
- Traveled abroad
- Play sports (athletic)
- Worked a shitty job.
- Can show vulnerability
And lastly, and probably my favorite, was Yossi Vardi's (Tech Entrepreneur, Investor) thoughts.
- Be top talent
- Nice person
- Focused!
- Nimble
- Be in the right space
- Good listener
If I were to make my own list, I would probably include most of the ideas above - but I would definitely add passion, and the ability to attract top talent. Having a great team is definitely the key in all of this, and if the person can't attract, and play nice with others, it's usually a good indication of failure. (unless he's smart enough to put someone between him and the others, but that's another discussion altogether).
What would you add? Anything you disagree with?
All in all, it was a very exciting and exhausting three days. Jason and Mike put on a very grass roots event. All the companies presented extremely well, and there was only one technical glitch that I can remember. The real value for me was meeting the CEO's of the presenting, and Demo Pit companies; talking with Angels/VC's about emerging sectors; getting to know some of the characters in the Web 2.0 space; and making new friends in the San Francisco area.
Highlights:
- Joking around with Yossi Vardi about "other" Silicon Valleys around the world. What a nice guy.
- Hanging with Lauren and the puppet
- Meeting the whole Seesmic.com team.
- Chatting with Austin (Akoha) and learning more of his vision.
Top 3 Companies:
GoodGuide, Akoha, Atmosphir
Most Over Hyped
Blah Girls
Best Presentation
TonchiDot - "Look Up, Not Down" .... IMAGINE
I'm not going to lie, I'm still confused about Yammer winning the whole thing. I'm a fan of the team, and understand it make sense, however, I personally believe their were other companies more deserving from an innovation and market potential point of view.
What do you think? Did Yammer deserve top spot?
