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Title: - Venture Capital - Eric Ries, author of "The Lean Startup"
Added: Nov 21, 2011
Author: ThisWeekIn
Duration: 71:10
Description:
Mark interviews Eric Ries, author of the New York Times Bestseller The Lean Startup. This episode is all about building businesses in the most efficient and effective way possible. This includes having a "business hypothesis," knowing when to go after the money, and how to "Fail Fast" while continuing to build a better product. We'd like to thank our sponsors Fenwick & West, and MozyPro--Protect your data, protect your business.For more, visit http://thisweekin.com/venturecapitalTimecodes:00:00 Welcome, our guest is Eric Ries, founder of the Lean Startup Movement.00:45 Intro to Eric01:17 Background, before the Lean Startup01:53 Yale during the Dot Com Bubble3:35 The real entrepreneurs come out during a down economy4:15 Eric's startup history6:30 Why did it take so long to ship?8:17 How did you decide to go with either shrinkwrap or web only product?9:14 What was the root cause of the failure of your first company?11:00 Mark on over-hyping PR11:50 Startup problems!13:43 Why would you talk to journalist? Why waste energy?14:20 People go too fast to internationalize14:45 Eric: The vital function of a startup is to learn how to build a sustainable business15:40 Discussion of Awe.sm17:30 Can you make startups science?19:30 A teachable moment for entrepreneurs: HAVE A HYPOTHESIS! What do you do better, different, or what do you want to achieve?20:42 Looking for the "Up and to the Right" charts21:20 Starting points for business should be a problem22:10 Eric: Innovation Accounting22:53 Eric's book: The Lean Startup24:00 Big money vs. Little money25:40 The fundamental goal should be to eliminate waste26:44 Too much capital is not good26:54 Mark on the negatives of the "Fail Fast" movement27:45 Eric: The thing that is supposed to fail fast is your bad ideas, not your company31:10 Mozy Pro Ad34:00 Imvu35:29 Why people use social media. Will these norms change? 36:30 Eric: Social media is great for people with social capital38:00 Should you use avatars? 40:05 What happened after Imvu41:00 Transitioning from software to writing42:20 Did agile development influence you? 43:20 The inception of Lean Startup44:45 Telling an entrepreneur to focus is like telling a fat person to lose weight46:18 iOS Vs. Android 46:50 Engines of Growth48:30 Vanity metrics49:00 Startups are all naked in the mirror51:10 Astrology and causality in startups52:00 Actionable metrics53:35 Opposition to departmental silos54:20 Semi-autonomous teams57: 00 How do you rectify company mission and customer demand58:00 Apple is iterative1:01:01 Why Steve Jobs got fired1:01:45 Fenwick and West AD1:03:03 So what comes next? 1:03:35 Eric: what is society going to do? Most people are working on failing ideas. 1:05:35 Middle class job of the next generation: software development!1:06:05 The skills gap1:07:15 The "College Deal" and why it needs to change1:09:50 We need education!
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Tags: twivc e065yt thisweekin venture capital mark suster lean startup eric ries success company business startup training the lean startup funding vc this week in venture capital apple ipad steve jobs mvp products
twivc e065yt thisweekin venture capital mark suster lean startup eric ries success company business startup training the lean startup funding vc this week in venture capital apple ipad steve jobs mvp products
Youtube Comments: 20
achillesfrenkel Says:
Nov 26, 2011 - Best interview I've seen in TWIVC, really helpful.
demas22 Says:
Nov 28, 2011 - Good interview but Suster needs to lose the black sweater... floating head syndrome.
bThere21 Says:
Nov 28, 2011 - Good interview but next time wear black gloves to really freak people out ;-)
sokalo Says:
Nov 28, 2011 - I'm currently in a startup phase of the startup, but we call them initial operations, as it's legally referred to in MX. My company is looking for programmers and designers at the moment. Would love some feedback and if anyone is interested in developing a new presentation product app for desktop and mobile, please don't hesitate to get in contact.Great episode.
sokalo Says:
Nov 29, 2011 - "electrons won't tell me what they want..." Brilliant and poignant quote!
JessBachman Says:
Nov 29, 2011 - great episode, top 3 for sure. Eric seems like a natural speaker.
MrsDBarronPTCnEd Says:
Dec 1, 2011 - Excellent points made on today during your interview; how does one find Venture Capitalists who ascribe to the methodology as discussed on today between you and Mr. Eric Ries?Mrs. Dorothy Barron, Founder of Parents Taking Charge in Education Blog
goingwithzed Says:
Dec 4, 2011 - Narrow thinking in terms of 'today' instead of terms of tomorrow ... its more clear than ever that creativity - not leveraging the known - is what makes the real stuff happen.
TeamFUtd Says:
Dec 13, 2011 - Get that book out quick Mark!
leoclub626 Says:
Jan 1, 2012 - very helpful conversation. loved it.
psmooth777 Says:
Jan 11, 2012 - OK Mark, vacation is OVER! Time to record a new episode!!! :)
crowditout Says:
Jan 19, 2012 - how does this interview only have 9,500 views??? everyone should watch this!
theikmarket Says:
Jan 22, 2012 - no more this week in venture capital? :(
sud0n1m Says:
Jan 27, 2012 - Whatever you do, don't use mozy.
messianicrogue Says:
Feb 11, 2012 - i was interested in Mozy, until i went to find out pricing and i have to give them all my details before any price is revealed.
JaxRwld Says:
Feb 13, 2012 - 36:59 = priceless
MyInfoMatrix Says:
Mar 6, 2012 - Finally tipped over the edge to actually buy a physical copy of Lean Startup. Thanks Mark & Eric. This wasn't just helpful. It was inspiring. Many a thought such as the conclusion - (Higher) Education, a trillion dollar debt. Educating the next generation (and myself) was and is dependent on student loans and in the UK this crisis is escalating. If we don't disrupt things soon, to integrate the skills we don't teach them, this outdated system / intertia will kill creativity at it's core.
bagini Says:
May 22, 2012 - Agreed !
MatiasPenas Says:
May 26, 2012 - I dont get the last part at 1:10:00 about immigrants. That was an pro immigration or anti immigrants comment?
MrE2E Says:
Nov 25, 2011 - Great episode - great guest, great host. keep it up