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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. "
Dave McClure
Big
People
Kind
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" 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
" There's been entrepreneurs working in the Valley for probably 50-60 years. It's not to say that you can't create that in other places, but I think people are a little bit impatient about creating the next Silicon Valley. "
Dave McClure
Say
Think
Create
" 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
" We often say if you have traction, lead with traction. Talk about specific customers, usage numbers, revenue metrics - anything like that that really is clearly explicit and factual. Get that out in front early. "
Dave McClure
Early
You
Talk
" 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 ashamed I didn't change my behavior until I was forced to do so by circumstance and by others. The reality is, I was stopped from further bad actions by those who spoke up about my offenses, at substantial risk to their personal and professional reputations... and subsequently, by Christine and others on the 500 team. "
Dave McClure
Reality
Team
Bad
" Companies that tend to survive are the rebels. "
Dave McClure
Companies
Survive
Tend
" 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
" The earlier you invest, the higher that attrition rate is because it's compounded. We have a more scientific method of investment. "
Dave McClure
More
Because
Higher
" 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
" I don't expect anyone to believe I will change, but I'm working on it. "
Dave McClure
Will
Change
Working
" Usually, what I recommend to entrepreneurs is to focus on telling the problem first, about the customer or the person who has that problem. "
Dave McClure
Problem
Person
Focus
" 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
" 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 actually find it's more interesting to play in the niches and find ways to apply technology to relatively straightforward problems. "
Dave McClure
Technology
Problems
Play
" 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
" 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
" I aim to combine all the things I do in a comprehensive and holistic fashion that benefits startups and the people who make them grow. "
Dave McClure
Things
Fashion
Who
" There's a mathematical way to get success. "
Dave McClure
Get
Way
Mathematical
" 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
" Everyone has a different definition of risk. Sometimes that creates opportunities as well. "
Dave McClure
Risk
Sometimes
Opportunities
" The reason we invest globally is because we think that's where a lot of the growth is happening: around the world. "
Dave McClure
World
Think
Reason
" I did pick Lyft, but Lyft didn't seem amazing. "
Dave McClure
Did
Amazing
Seem
" Offline, anything is expensive. Online is much cheaper, usually, to do almost anything. "
Dave McClure
Almost
Anything
Cheaper
" I think you'll see a lot more people in the Valley get more involved in politics. "
Dave McClure
Think
Politics
People
" I want to invest in a functional product that people are using. "
Dave McClure
Product
People
Using
" 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
" We have to support the well-being of society. "
Dave McClure
Support
Well-Being
Society
" I don't think there's nearly enough interesting ways to do education online, particularly for younger children. "
Dave McClure
Education
Think
Interesting
" I bet on a lot of stuff that's low-priced, and most of it's going to go back down to zero. But some of it's going to go up. "
Dave McClure
Back
Zero
Up