Startup Communities
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Guide to building entrepreneurial communities by Brad Feld
Brad Feld
Startup Communities — How to build communities of entrepreneurs
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William Mougayar
How do you tell governments to stop funding "central programs" because they are sucking the air out of the more organically grown ecosystem that needs to thrive on its own via bottoms-up experienced entrepreneurs and their successes; and not via inexperienced bureaucrats and their mediocre programs?
Brad Feld
@wmougayar I don't think it's worth telling government to stop doing this. If what they are doing is worthless, the founders and leaders of the startup community should do two things. (1) Create and exist in your own parallel universe and (2) Invest a little time with key leaders on the government side to try to get them to become participants in the startup community, rather than leaders (or controllers) of it. #1 insured that the entrepreneurs are creating and leading the startup community. #2 gives the startup community a chance of effectively engaging government in the startup community, at least partially.
William Mougayar
One more Question: What do you think of the 4 startup community elements that Fred Wilson mentioned this week in his post: Talent, Capital, Cheerleading, and Experience? I thought they complemented your thesis pretty well.
Brad Feld
@wmougayar Fred's interview (here - http://avc.com/2015/07/a-discuss...) was excellent. It is very complementary. Woven into it is the notion of a long term view which is super critical.
Andrew Hyde
Having started a few of the events featured in the book how similar or different do you think 'my book' on startup communities would be?
Kiki Schirr
@andrewhyde wait, are you writing one?
Brad Feld
@andrewhyde I like to think we are brothers from a different mother.
Micah Baldwin
@bfeld You have often said that there is a virtuous cycle of exits - more angels - more startups - more exits - more angels, etc. Given that many communities outside of the current tech hubs have seen exits in primarily non-tech companies, how does one facilitate the openness of those angels to get involved in tech?
Brad Feld
@micah You've got to train them. When I hear people in a city complain that there are no angel investors there, I simply ask "Are there any rich people living here." There always are and the tech / startup community has to work to help them understand why it is so exciting, and long term valuable for the city, for these rich people to invest in startups, in addition to buying real estate and bonds with their money. Most of these folks also contribute philanthropically to the city (arts, education, environment, entertainment) and one lens to give them is that investing in startups is "for profit philanthropy" around the innovation vector of a city.
Erik Torenberg
Super excited to welcome Brad for an AMA on 7/24 at 1130 AM PST! Ask questions in advance :) BIO: Brad is a VC at Foundry Group and co-founder of Techstars. He lives in Boulder, Colorado, invests in software and Internet companies around the US, runs marathons, and loves to read.
Brad Feld
@eriktorenberg That's me!
Erik Torenberg
Q: How does building startup communities differ from building other types of communities? What are your thoughts on the Summit Series community?
Brad Feld
@eriktorenberg I don't know the Summit Series community - tell me more about it and I'll react. I think the Boulder Thesis that I define in Startup Communities can be used to build many different types of communities. I have talked to people in lots of different domains, including education, non-profit, scaleup (such as the Blackstone Entrepreneurs Network of Colorado - which I'm a part of - www.bencolorado.org) that have used the Boulder Thesis effectively.
Erik Torenberg
For companies that are building online startup communities (ahem...) how does your advice differ from building off-line, in-person communities? What are the differences and overlaps?
Brad Feld
@eriktorenberg I think the principles are the same. The tactics are different since it's hard to smell and touch people online, so you have to get the nuance of personality a different way. But having synchronous activities (AMAs, Group Hangouts) in addition to the asynchronous activity that pervades online communities is key.
Eli Colner
Q: What are your thoughts about what we'd need in San Diego to get startup community built? I think it's a great spot with world class engineering but we seem to be missing a lot of ingredients like MONEY and MEDIA.
Brad Feld
@rivveting My recommendation: 1. Read Startup Communities . 2. Go spend time with a bunch of the other founders in San Diego doing interesting stuff (there are a lot of them. 3. Hang out / mentor at things like the Qualcomm Robotics Accelerator which will have plenty of investors around it - http://qualcommaccelerator.com/
Kiki Schirr
Thanks for doing this @bfeld! I'm just downloading your Kindle right now, so if this is covered, I apologize, but-- I live in Tampa, which has some great resources for entrepreneurs, but many are county-specific, leading to Tampa Bay's regional factionalism. How would you suggest fostering a sense of greater community when it's already kind of... fractured? cc @robertwilliger, @joshmuccio, @danny_nav
Brad Feld
@kikischirr I don't know what the regional factionalism context of Tampa / Tampa Bay is so it's hard to answer specifically. Is this a function of geographic programs, or something else?
Kiki Schirr
@bfeld Sorry, yeah, it likely has no easy answer but I would say the root is county-competition for "scarce" talent/funding resources (I feel the perception of scarcity is larger than the reality, but that's an aside) There's also a little hometown pride from the different regions, and then there's just a little bit of clique-ish-ness, too. (For example we have a St. Pete 1 Million Cups AND a Tampa 1 Million Cups--I'd guess they're 10 miles apart.)
Brad Feld
@kikischirr It's cool to have these "neighborhoods." Just make sure people from St. Pete go to the stuff in Tampa and vice versa. Grab a bunch of your gang and go to the other gang's house. Then invite them back to yours.
Andrew Torba
@bfeld What is your writing process like and what would you say is the most time consuming part of writing and publishing so many great books?
Brad Feld
@torbahax I write a lot all the time. There are many different modes, from Tweets to Emails to Blog Posts to Articles to Books. I have a different rhythm for Articles and Books - I tend to block out a chunk of time (usually two hours) and just write. I turn everything else off. Sometimes I can go as long as four hours, but rarely, and never more (or else all the words are useless.) I am a one pass writer - I don't do heavy outline and I don't edit while I go. I write. Then I do an edit pass. When I'm doing a book (vs shorter form) I often have regularly consolidation passes. I start at the beginning of what I've got and go from beginning to end, editing, changing, adding, moving, and deleting. I probably do this 25 - 50 times while I'm working on a book as more and more comes together. For shorter stuff (like this answer) I just write. And then hit post (or submit in this case.)
Violeta Nedkova
@bfeld How is that project Support for Startups doing, the one with 7cupsoftea?
Kiki Schirr
@v4violetta Can I please upvote this twice?
Erik Torenberg
@v4violetta that's an initative Glen Moriarty's team is running, i'll let him jump in @glenmoriarty1 - brad has been generous w/ his time to help!
David McGraw
Hey @bfeld! Thank you so much for your time. 1. In what ways can founders effectively use their time toward helping their city (beyond focusing on their startup)? Should they introduce the distraction? 2. What are the top 2-3 things you would try to get in place within a city that is not considered a startup haven; in order to build a better startup foundation?
Brad Feld
@xmcgraw 1. I'm a believer that founders should allocate 10% of their time to their local startup community. It's not altruism - you expect to get something back. But you have to #GiveFirst (what I talk about in Startup Communities as "give before you get.") If you are having trouble understanding what benefit you'll get, take a simple one which is recruiting. I've yet to meet a founder that didn't want more talent coming to her. By engaging in your startup community, you'll have a higher profile and will quickly attract people to you / your company. 2. Get activities and events going that engage people in entrepreneurship. Startup Weekends. Accelerators. Meetups. DO STUFF around entrepreneurship together.
Eric Willis
@bfeld Thanks for doing this AMA. I have a question for you about building startup communities. @pmarca has often said that we shouldn't think about building "The Silicon Valley of X" (x being location) because the components that make up SV aren't easily repeatable in other environments. He said that there should be a commitment to building a community around a category like Bitcoin. The local government would loosen restrictions and support Bitcoin officially, entrepreneurs would flock there because of that support, which would then attract investors focusing on cryptocurrency, etc....essentially creating a sphere of knowledge around an important sector. What do you think about that concept considering that what you've helped build in Boulder without taking that approach?
Brad Feld
@erictwillis I despise the notion of creating the "Silicon Valley of X" or using "Silicon" as the preface to things like "Silicon Alley", "Silicon Slopes", "Silicon Beach", and "Silicon Blah". See The Tragedy Of Calling Things Silicon Blah (http://feld.com/archives/2012/04...) for a rant on this. Cities already have a brand. The startup community in Boulder is called "The Boulder Startup Community". The startup community in LA is called "The LA Startup Community." Then, each city has its own "natural resources." Go back to the origin stories of cities - every city was once a startup that was created in the spot that it's at for some reason. Maybe it was where two rivers crossed. Maybe it was in a valley. Maybe there was a bunch of oil under the ground. Maybe someone was shipwrecked there. The reason doesn't matter - but the natural resources do. Today - there are a wide range of unique capabilities, skills, cultures, personalities, values, industries, intellectual resources, cultural resources, and physical resources in each city. The startup community should leverage the uniqueness of the city and the people living there. They shouldn't try to emulate or compete with other cities but over a long period of time develop their own special magic.
Eric Willis
@bfeld @erictwillis Thanks for the response. I remember that blog post of yours from 2012.
Will Bernholz
@bfeld Any thoughts on the future of cross-platform/code-free/code-lite mobile app development tools?
Brad Feld
@mcwbernz Having enjoyed efforts to create cross-platform tools for almost 30 years, I can merely quote BSG in response to this. "All this has happened before, and all of it will happen again."
Leo Faria
Hi @bfeld thanks for being here with us! I'm working on a SaaS product focused mainly in the US market, and willing to be global. We're outside the US, but still 80% of our traffic/leads/customers are from the US. Should we move to the Valley?
Brad Feld
@lhfaria Per my note to @kunalslab, in addition to creating startup communities anywhere in the world, I think you can create great companies anywhere in the world. Choose where you want to live first. If you want to live in the bay area, move there. If you want to live where you are currently living, live there! Leverage the unique characteristics of where you are, especially if you are building a scalable company that can sell their products anywhere in the world.
km Steiner
What city has your favorite marathon been in?
Brad Feld
@kylemarksteiner Chicago was my favorite big city marathon. Ashton, Idaho was my favorite small marathon. See http://feld.com/marathons for the full list.
Karthik Kamalakannan
Hello @bfeld. Nice to see you here. 1. If Silicon Valley's Pied Piper (HBO's TV Series) was real, and if it was being made outside of the US, what would you suggest? Moving to the Valley? Or have a small team in the valley that can only sell the product? 2. For such a product, offering a SaaS is the best choice or delivering a fully packaged server to the enterprise is the best choice? P.S.: The question might sound similar to @lhfaria, but the context here is different. :)
Brad Feld
@imkarthikk 1. I'll keep repeating "chose where you want to live and build your life and your company there." 2. I'm a huge fan of a SaaS approach rather than a fully packaged server to the enterprise approach.
Jess (ノ◕ヮ◕)ノ*:・゚✧
@bfeld Is there anyone left interested in true seed investing? All the metrics around seed seemed to have leveled up.
Brad Feld
@mibi Can you define "true seed investing?" My quick answer is "tons" including Techstars, many angels (including many syndicates on AngelList, including ours - FG Angels), and lots of seed focused funds like Ludlow Ventures, but I want to make sure I'm using your definition.
Brent Summers
@bfeld Thanks for doing this. What personality trait do you see as the biggest detriment to early startup founders?
Brad Feld
@brentsum Lack of self-awareness.
Amy Jo Kim
"email continues to be a very effective least common denominator across diverse communities" ~ wise @bfeld soundbite