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Christopher Griffin on Startup Thinking

Fortune Favors the Bold...but Especially the Bold and Young

At virtually every conference I attend, I come away with a handful of interesting side-comments overheard during the proceedings that, though seemingly irrelevant, tend to stick with me for weeks afterward. One of those comments was made by Guy Kawasaki during Microsoft’s recent MIX08 conference in Las Vegas. Guy’s comment wasn’t made during the widely reported keynote conversation with Steve Ballmer, but at the beginning of the panel Guy moderated immediately following it, titled “Social Networks: Where Are They Taking Us?” and featuring Facebook’s Dave Morin, Plaxo’s Joseph Smarr, People Aggregator’s Marc Cantor, StumbleUpon’s Garret Camp, and Windows Live Platform’s John Richards.

As he introduced the panelists, Guy asked Joseph, “Dude, how old are you?” Joseph answered, “27,” to which Guy responded, “You look like you’re 15.” Without a blink, Joseph answered, “That’s a good thing, right?” Joseph was unruffled and proceeded to deliver a ton of thoughtful, well articulated comments about social networking broadly, the nature of personal information, and his own visions for how information portability could be improved in the future (this of course is no surprise for anyone who has met Joseph—I had the pleasure of grabbing sushi with him and Dave Morin the night before the panel, and he’s wicked smart, highly articulate, and not afraid to voice his opinion). Although Guy’s attempted dig was lighthearted and passed quickly, the exchange stuck with me as an open loop in my brain…until a recent Saturday morning, when I read a profile of Albrecht Dürer’s iconic self-portrait, painted in 1500, when the artist was 28 years old. Let those two numbers sink in for a minute….

The painting is a masterwork: brooding, powerful, irrepressibly confident, Dürer’s stare captures the viewer with a beguiling combination of intensity and detachment. One cannot tell whether Dürer means to challenge you, or whether he is so deep in his own thoughts that he doesn’t even know (or care) that you’re there.

Having just come off the stage after an hour with Steve Ballmer, it was probably easy for Guy to forget that many of the folks driving the most significant changes in technology look like they could be 15. Though exceptions are everywhere, it is the folks in their teens and twenties who tend to possess the enviable combination of intellectual horsepower, high risk tolerance, and the physical stamina to do what it takes to change the world in meaningful ways. Let’s not forget that Bill Gates started Microsoft when he was what—17? Give the 28-year-old Dürer a good shave and a haircut, and Guy would have been asking him the same thing he asked Joseph.

I find Dürer’s self-portrait an incredibly refreshing reminder that young, smart, visionary people have a lot in common—whether today or over 500 years ago. Like Dürer—who appears to have painted his self-portrait for himself (keeping it in his home rather than selling or showcasing it), these individuals are incredibly passionate about the work they do, and most would do it for the sheer challenge and the stimulation it brings, regardless of whether any significant financial upside even existed. Whether in 1500 or 2008, no one should be surprised by the fact that fortune favors the bold…but especially the bold and the young.

Published Wednesday, April 02, 2008 5:34 PM by Christopher Griffin

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Chris Treadaway said:

I think it's the combination of a few things...

1) social platforms are dominated by "the young" -- most social platform users are young even today, so it stands to reason that they'd typically have a better idea of customer needs before others.

2) risk tolerance of one's network -- it is harder to find younger people to join a newco when you are older than when you are younger.  the college setting is critical to finding people who are willing to take a shot in lieu of full pay, benefits, etc.

3) venture capitalist preference -- I've heard more times than I can count that VCs would rather deal with younger folks who can be "molded" into they type exec that they would like to deal with.  Younger folks are also easier to justify replacing as well.

Chris

April 6, 2008 9:56 PM
 

Joshua Allen said:

Yeah, I especially liked that Joseph called attendance at MIX an "anthropological" exercise.  At least he didn't say "archaeological", which would have been bad :-)

"fortune favors the young" goes far beyond startups.  Taleb talks about "survivorship bias" which is one factor, and then as chris says; young people have more time to recover from negative turns of fate, consider themselves more invincible, don't have the same hindsight biases, etc.

April 8, 2008 3:59 PM
 

Christopher Griffin said:

Joshua: nice note on Joseph's characterization. I should add that Joseph has agreed to continue his "research" at the reMIX event in Mountain View CA on 17 April for a similar panel including Dave McClure, Jeff Clavier, and some other great folks. And re: Taleb--has anyone articulated in a clean way the generalized value of young v old--to Chris Treadaway's point about VCs aiming to "mold" young founders, I've seen an equal number of cases where VCs place high value in proven entrepreneurs they've backed before--where age is not a significant variable. The interesting thing I'm seeing is the convergence of those two categories--leaders who have both the positive aspects of youth AND one or more successful exits under their belts. Stephen Levy has an article touching on this in today's Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2008/04/08/AR2008040802798.html?wpisrc=newsletter&wpisrc=newsletter.

April 9, 2008 4:13 PM
 

Christopher Griffin said:

correction: Steven Levy, not Stephen....

April 9, 2008 4:18 PM

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About Christopher Griffin


For nearly 8 years Christopher was involved in the early-stage startup and investment community in Texas. The broad business areas in which he was directly involved either as a founder or early advisor/consultant included targeted meta-search, wireless medical charting, clinical nanobiotechnology, CRM tools, and consumer-focused software products. During business school Christopher was selected to participate in the Venture Fellows program, where he worked with several early-stage funds in Austin and Houston, Texas. In addition, he spent his MBA internship working for G-51, an early-stage venture capital firm based in Austin. For the past two years Christopher has worked with the marketing teams driving product strategy, revenue, and unit growth for Visual Studio Professional, VS Express, and the mashup-focused Microsoft Popfly. In December 2007, Popfly was selected by PC World as one of the “Top 25 Most Innovative Products of the Year.”

Christopher Griffin
Senior Portfolio Manager

For nearly 8 years Christopher was involved in the early-stage startup and investment community in Texas. The broad business areas in which he was directly involved either as a founder or early advisor/consultant included targeted meta-search, wireless medical charting, clinical nanobiotechnology, CRM tools, and...

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