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" The best programmers and internet entrepreneurs are in the Bay Area. Don't kid yourself about that, not even for a second. "
Jose Ferreira
Bay Area
Yourself
Kid
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" What N.Y.C. does attract, year in and year out, is the very best general talent from around the world. The absolute smartest, neurons-just-fire-faster, can-bend-spoons-with-their-mind talent. "
Jose Ferreira
World
Talent
Out
" I had started teaching because I love brainteasers. At some point, I had taken every standardized test out there - the SATs, the GREs, the GMATs, the MCATs. I just took them for fun. "
Jose Ferreira
Love
Fun
Standardized
" Venture capitalists buy minority positions in young companies they think will grow quickly; buy-out investors buy most or all of companies they think can be turned around by fixing a few basic things. "
Jose Ferreira
Grow
Think
Young
" Venture capital today is clustered in just a few locations - Silicon Valley, New York, Boston, and D.C. It's far from efficiently distributed and accessible. "
Jose Ferreira
Valley
New York
Today
" I found school very boring and frustrating. "
Jose Ferreira
Found
School
Frustrating
" We know everything about what you know and how you learn best because we get so much data. And education is the highest-stakes media product in your life. It's infinitely more important than your Facebook friends' status updates or your Google search results because it's your future. "
Jose Ferreira
Media
Life
Future
" It's not enough to have a value-adding product in a big market. You also need the right conditions. Will you be able to scale revenues within a 5-10 year time frame? Is the timing right? YouTube wouldn't have worked pre-broadband. "
Jose Ferreira
YouTube
You
Timing
" In a crisis, markets always look to see who is the next-worst off and proactively begin shying away from them. "
Jose Ferreira
See
Crisis
Look
" Venture capitalists certainly create value for themselves, but they also singularly create value for the rest of the world. "
Jose Ferreira
Venture
Value
Rest
" Data adds concrete information to a teacher's observations and intuition, but it will never replace experience, personal relationships, and cultural understanding. "
Jose Ferreira
Understanding
Data
Experience
" You need more than just a great idea. Your product or service must add an enormous amount of value to some industry. If the idea isn't completely new, it has to be better, cheaper, or more efficient than what we already have. "
Jose Ferreira
Need
Great
Better
" We get more data about people than any other data company gets about people, about anything - and it's not even close. We're looking at what you know, what you don't know, how you learn best. The big difference between us and other big data companies is that we're not ever marketing your data to a third party for any reason. "
Jose Ferreira
People
Best
Data
" If the penalty for hiring illegals is just a fine, it becomes a business decision. But if the penalty is jail time, illegal immigration will come to a screeching halt. "
Jose Ferreira
Time
Immigration
Decision
" Google's real threat to China is not that it will leave the country. It's that it will embarrass China and damage its national reputation as a place to do business. "
Jose Ferreira
Business
Reputation
Place
" The San Francisco Bay Area has more VC firms and dollars invested than all East Coast cities combined. "
Jose Ferreira
East Coast
More
San Francisco
" Stop pretending there's anything wrong with businesspeople hiring diligent laborers who will work for less. Let employers sponsor any worker and argue for why that worker should be given citizenship. Such a vetting mechanism would naturally promote the best and hardest-working. "
Jose Ferreira
Wrong
Best
Citizenship
" The factory model of education is a gargantuan bureaucracy. Some kids are good fits - I wasn't. The system gives you bad grades and tells you you're stupid. You don't think, 'If this kid's not a good fit, it could be the system's fault.' "
Jose Ferreira
You
Think
Bad
" No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market. "
Jose Ferreira
Your
Key
Dollar
" It is intellectually dishonest to lump venture investors with hedge fund and buy-out investors. "
Jose Ferreira
Lump
Hedge
Dishonest
" Big data has been used by human beings for a long time - just in bricks-and-mortar applications. Insurance and standardized tests are both examples of big data from before the Internet. "
Jose Ferreira
Time
Long
Long Time
" I started Knewton to do my bit to fix the world's education system. "
Jose Ferreira
Fix
Education
Started
" Jeff Bezos was one of those best and brightest who came to N.Y. to work in finance. He didn't need to know anything about retail bookselling to start Amazon. "
Jose Ferreira
Start
Know
Need
" Education has always produced an incredible amount of data; that's always been obvious to me. But technology had to catch up. "
Jose Ferreira
Me
Always
Data
" I spent most of my career in education and technology. I worked at Kaplan, and I was one of the first people trying to bring innovation into for-profit education. "
Jose Ferreira
Innovation
Technology
Education
" Many venture capitalists say they're looking for the next big idea. But they aren't, really; they're looking for something derivative, because derivative is safe. "
Jose Ferreira
Say
Because
Big
" Immigration has defined my entire life. My parents left Mozambique with nothing but their wits in search of a better life for their kids. They moved to England in the 1970s, saw the classism there, and left for America soon after. "
Jose Ferreira
America
Life
Better
" If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing. "
Jose Ferreira
Day
You
Risks
" If I had to give one piece of advice to a budding entrepreneur, I would say: 'Aim big.' "
Jose Ferreira
Entrepreneur
Big
Aim
" Anyone who sincerely wanted to use policy to reduce illegal immigration should start by crafting legislation based on changing actual behavior. "
Jose Ferreira
Policy
Behavior
Immigration
" Big data in education has huge potential to improve learning materials. "
Jose Ferreira
Learning
Potential
Data