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" Everybody in the industry thinks I'm the crazy person. "
Dave McClure
Everybody
Crazy
Person
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" Food tech has been kind of an area that we have been making a number of investments in. Kind of a big boring industry, but a lot of people eat. "
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" Entrepreneurship is usually about people executing in the face of other folks telling them that it's not going to work. "
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" Companies that tend to survive are the rebels. "
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" While I'd like to believe that I'm not a bad or evil person, regardless, it's clear that some of my past actions have hurt or offended several women. And I probably deserve to be called a creep. "
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" There were never as many big businesses as people were piling money into in the late 90's or early 2000's. This is really a lesson to institutional investors about how much capital the market can absorb, and it's a 10-year adjustment cycle, and we're only beginning to wake up to that. "
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" Most of what we do is software, Internet, and mobile. A fair amount of that is transactional. "
Dave McClure
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" We think that there's a lot of opportunities in helping improve finding food, delivering food, ordering systems, notifications system, and its a very frequent purchase item for a lot of people. "
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People
Think
Food
" Europe is kind of fragmented. Africa is nascent; we've made a few investments, including four in Egypt. I visit 50-60 cities and 20-25 countries a year. The intent is to be a global fund, which takes time and prioritization. "
Dave McClure
Time
Year
Africa
" My role has been limited to focus on fiduciary obligations to our investors as a general partner of our funds. "
Dave McClure
Focus
Been
Role
" A bubble in early-stage funding means maybe there's $300 million at work when maybe there should be $150, as opposed to a bubble in late-stage funding which means there's $20 billion at work when there should be $3. "
Dave McClure
Maybe
Bubble
Work
" I won't say that 'shotgun' is the word I'd prefer to use, but we certainly do a lot of investments. "
Dave McClure
Lot
Prefer
Say
" It's pretty challenging for large funds to spend the time and energy necessary to get a meaningful return when most of the wins coming out are perhaps below $100 million exits and the ones above are very few and far between. "
Dave McClure
Energy
Time
Return
" I must say I have turned down several great companies, so I'd probably say I have to keep learning. "
Dave McClure
Say
Must
Learning
" There's this myopia among American venture capitalists to not go anywhere beyond Silicon Valley and New York. "
Dave McClure
New York
Beyond
American
" I think 'Shark Tank' is targeting companies that are really trying to raise their very first dollar. A lot of them aren't really tech focused. We're definitely going after companies that are building real technology, either software or hardware, they probably have raised a couple hundred thousand already. "
Dave McClure
Technology
Building
Trying
" Sometimes, we nerds of technology sort of don't think that the rules necessarily apply to us in the same way, but I think when you produce products that hundreds of millions of people, if not billions of people, are using, we have the same responsibilities as any other person representing the Fourth Estate. "
Dave McClure
Technology
People
Rules
" With great power comes great responsibility. These are platforms with hundreds of millions of people. "
Dave McClure
People
Power
Responsibility
" We are trying to build large, lasting businesses. "
Dave McClure
Trying
Lasting
Large
" I don't think there's nearly enough interesting ways to do education online, particularly for younger children. "
Dave McClure
Education
Think
Interesting
" Most firms do two investments a year. They may talk to between 50 and 100 and do a couple, whereas we're talking to thousands and doing several hundred. "
Dave McClure
Talking
Two
Year
" I'm better than probably 90 percent of the people out there. Doesn't mean I'm smart; probably means I'm lucky. "
Dave McClure
People
Smart
Lucky
" I made advances towards multiple women in work-related situations, where it was clearly inappropriate. I put people in compromising and inappropriate situations, and I selfishly took advantage of those situations where I should have known better. My behavior was inexcusable and wrong. "
Dave McClure
Wrong
Better
Behavior
" If you already have some amount of significant traction with customers, either in usage or in revenue, you should very quickly try and get that clearly out. "
Dave McClure
Customers
You
Try
" We have to support the well-being of society. "
Dave McClure
Support
Well-Being
Society
" I think you'll see a lot more people in the Valley get more involved in politics. "
Dave McClure
Think
Politics
People
" I did pick Lyft, but Lyft didn't seem amazing. "
Dave McClure
Did
Amazing
Seem
" I don't expect anyone to believe I will change, but I'm working on it. "
Dave McClure
Will
Change
Working
" Even for a lot of people in the Valley who are more conservative, a lot of them find Trump to be incredibly offensive and a blowhard. "
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People
Conservative
Find
" My personal failures aside, 500 has long supported a diverse community of entrepreneurs including women, minorities, LGTBQ, international, and other overlooked founders. "
Dave McClure
Long
Community
Women
" There's going to be a Google or a Facebook or a Zynga every three to five years. Those are really big ideas that do return substantial amounts of money. "
Dave McClure
Three
Facebook
Google