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" 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
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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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" 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. "
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" Offline, anything is expensive. Online is much cheaper, usually, to do almost anything. "
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" 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. "
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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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" 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. "
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" There's this myopia among American venture capitalists to not go anywhere beyond Silicon Valley and New York. "
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New York
Beyond
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" I don't expect anyone to believe I will change, but I'm working on it. "
Dave McClure
Will
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" 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. "
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Wrong
Better
Behavior
" 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. "
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Energy
Time
Return
" 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. "
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Know
Doing
Angry
" I actually find it's more interesting to play in the niches and find ways to apply technology to relatively straightforward problems. "
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Technology
Problems
Play
" 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. "
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Back
Zero
Up
" 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
" 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. "
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Three
Facebook
Google
" The earlier you invest, the higher that attrition rate is because it's compounded. We have a more scientific method of investment. "
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More
Because
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" 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
" Hottest space that I think is interesting would be education, particularly, like, ages 3-10. "
Dave McClure
Think
Education
Interesting
" I did pick Lyft, but Lyft didn't seem amazing. "
Dave McClure
Did
Amazing
Seem
" 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
" 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
" 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
" I don't think there's nearly enough interesting ways to do education online, particularly for younger children. "
Dave McClure
Education
Think
Interesting
" 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
" 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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Big
People
Kind
" We have to support the well-being of society. "
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" 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
" There's a mathematical way to get success. "
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Get
Way
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" Usually, what I recommend to entrepreneurs is to focus on telling the problem first, about the customer or the person who has that problem. "
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Person
Focus
" 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