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" We are trying to build large, lasting businesses. "
Dave McClure
Trying
Lasting
Large
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" 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
" 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
" 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
" 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
" 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
" Everybody in the industry thinks I'm the crazy person. "
Dave McClure
Everybody
Crazy
Person
" I did pick Lyft, but Lyft didn't seem amazing. "
Dave McClure
Did
Amazing
Seem
" 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
" 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
" Hottest space that I think is interesting would be education, particularly, like, ages 3-10. "
Dave McClure
Think
Education
Interesting
" 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
" I don't expect anyone to believe I will change, but I'm working on it. "
Dave McClure
Will
Change
Working
" I don't think there's nearly enough interesting ways to do education online, particularly for younger children. "
Dave McClure
Education
Think
Interesting
" 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
" 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
" 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
" 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
" 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. "
Dave McClure
People
Conservative
Find
" 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
" 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
" 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
" 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
" 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
" Offline, anything is expensive. Online is much cheaper, usually, to do almost anything. "
Dave McClure
Almost
Anything
Cheaper
" 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
" Most of what we do is software, Internet, and mobile. A fair amount of that is transactional. "
Dave McClure
Most
Fair
Internet
" 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
" There's this myopia among American venture capitalists to not go anywhere beyond Silicon Valley and New York. "
Dave McClure
New York
Beyond
American
" We have to support the well-being of society. "
Dave McClure
Support
Well-Being
Society
" 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