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" I don't expect anyone to believe I will change, but I'm working on it. "
Dave McClure
Will
Change
Working
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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. "
Dave McClure
People
Wake Up
Beginning
" 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. "
Dave McClure
People
Think
Food
" Most of what we do is software, Internet, and mobile. A fair amount of that is transactional. "
Dave McClure
Most
Fair
Internet
" 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
" Not everybody wants to be Mark Zuckerberg, but everybody wants to create a little piece of the American dream, the Silicon Valley version. I don't think that's a bad thing. "
Dave McClure
American Dream
Think
Dream
" I want to invest in a functional product that people are using. "
Dave McClure
Product
People
Using
" Everyone has a different definition of risk. Sometimes that creates opportunities as well. "
Dave McClure
Risk
Sometimes
Opportunities
" 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
" Hottest space that I think is interesting would be education, particularly, like, ages 3-10. "
Dave McClure
Think
Education
Interesting
" Offline, anything is expensive. Online is much cheaper, usually, to do almost anything. "
Dave McClure
Almost
Anything
Cheaper
" 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
" There's this myopia among American venture capitalists to not go anywhere beyond Silicon Valley and New York. "
Dave McClure
New York
Beyond
American
" 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
" 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
" 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
" I did pick Lyft, but Lyft didn't seem amazing. "
Dave McClure
Did
Amazing
Seem
" Entrepreneurship is usually about people executing in the face of other folks telling them that it's not going to work. "
Dave McClure
Them
Work
Face
" 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 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
" 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 don't know if we're doing the optimal things that we can to try and connect different people on the planet with different points of view and not be so angry at each other. "
Dave McClure
Know
Doing
Angry
" 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. "
Dave McClure
Evil
Believe
Bad
" 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
" 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 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
" 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
" 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
" With great power comes great responsibility. These are platforms with hundreds of millions of people. "
Dave McClure
People
Power
Responsibility
" 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