Over a bagel and coffee this weekend, I happened upon a broadcast of a TV program, Press Here, which runs on our local NBC affiliate KNTV here in San Jose.
There were sitting down with Adeo Ressi, serial entrepreneur and creator of The Funded, a site that rates Venture Capitalists with comments from founders trying to raise capital. Sort of like Yelp for VC's. Adeo's latest creation is even more interesting, the Founders Institute, which he talks about in the video below.
I completely agree with Adeo's vision that the future is driven by the passion of entrepreneurs on a mission. But according to his work at FI, he estimates that only about 2% of the population have what it takes to take an idea and materialize it into a company.
Adeo also discusses the the type of person which makes a successful founder:
- Typically someone gainfully employed someplace but has spotted a problem that no one seems to be solving, and thinking they know how to fix it.
- Something he calls "fluid intelligence". To be able to rapidly adapt to a changing environment and circumstances and make adjustments as needed.
- Open mindedness. To be open to a wide range of possibilities and not be locked into a particular mindset or range of solutions.
He also mentions that there is a certain level of craziness associated with starting all new ventures, and that it is this characteristic which is essential to have in balance. Crazy enough to take chances, dream, and believe. But sane enough to be able run a real company with real people.
Adeo wants to see entrepreneurism prosper not only in Silicon Valley but everywhere. He argues that while Silicon Valley is great, there seems to be a disproportionate number of entrepreneurs here. It's largely because they are either educated here, or emigrate here to get access to the capital and talent to get their venture off the ground. He feels that this is not any longer a requirement and with globalism, these people can get their company off the ground in their own communities.
The FI seems like a great idea, a way to bring together experienced veterans to train the next generation of founders bent on changing the world.
View more videos at: http://nbcbayarea.com.