Human Genome - Facial Prediction

Applied AI: eHealth & the human genome

The Human GenomeAt the recent TED conference, Riccardo Sabatini, spoke about the amazing potential from our recent understanding of the entire human genome.

He wheeled 175 huge books with over 260 thousand pages, each  filled with A, G, T and Cs, containing the entire DNA of Craig Venter.

Predicting (and preventing) health issues. He turned the page and read a sequence of 8 letters that represent Craig Venter’s eye color – blue.

And then he turned to another page, where if just two letters were in the wrong order, it would mean he has cystic fibrosis.

Predicting physical attributes from DNA

Human Genome - Facial Prediction

Using machine learning, he is now able to predict things like height, eye color, skin color, and even facial structure based on a person’s genome. Pretty amazing.

The application areas for this are massive, with the right prediction models (and later simulation models) we are going to be able to be able to not only predict but prevent many major health issues.

bootstraplabs-venture-builder-human-capital-venture-capital

BootstrapLabs: Venture Builders in Silicon Valley with a Global Community

When we founded BootstrapLabs eight years ago, we set out to create a company that would empower some of the world’s best technology entrepreneurs to build disruptive companies from Silicon Valley.

In our quest to build an efficient and scalable process to empower entrepreneurs, we transformed BootstrapLabs into a world class Venture Builder platform and brought together 3 critical elements for the success of any entrepreneurial endeavor:

  • Human Capital: Beyond access to our Core team, Global Venture Partners, and Experts in Residence, we have created BootstrapWorks, a proprietary platform that allows founders to find, vet, and compensate top advisors and experts in Silicon Valley and beyond, while removing the friction of contracts, vetting, etc.
  • Venture Capital: Because entrepreneurs need fuel to accelerate the growth of their ventures, we invest in our portfolio companies from our investment funds at the Seed and early Series A round stages. We have also built a great network of top-tier Silicon Valley co-investors and follow-on investors for our companies.
  • Global Community: Over the years, we have nurtured and grown a large and international community of like-minded entrepreneurs, investors, and executives that further reinforce our platform and deal flow.

BootstrapLabs recognizes that talented entrepreneurs have many choices when it comes to accessing capital, but money is only the tip of the iceberg. Experienced founders know that the human capital part of the equation is often the difference between breakout success and failure. For this reason, we strive to provide founders with a bespoke combination of capital, skills, experience, and network, a place were the world’s best founders WANT to come build and iterate their startups to scalable product market fit and success.

 

If this sounds exciting, get in touch, and come make a dent in the Universe with us.

DIY - self driving car

Applied AI: DIY self driving car

The First Person to Hack the iPhone Built a Self-Driving Car. In His Garage. Using Artificial Intelligence software and consumer-grade cameras – that have become good enough to allow a clever tinkerer to create a low-cost self-driving system for just about any car.

That tinkerer and hacker is George Hotz.

The technology he is building represents an end run on much more expensive systems being designed by Google, Uber, the major automakers, and, if persistent rumors and numerous news reports are true, Apple.

Read more at Bloomberg

 

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Sequencing is “make or break” for building a startup

One of the most important things when building a startup is the sequence of how you execute. It is even more important than “doing the right things”.

You need to be laser focused and meticulous on the execution at hand, while driving towards your big vision of your company, and evaluating the plan regularly.

By NOT planning every detail of what needs to happens in the next 12 months, you are increasing your attention span on what is needed right now, while making sure you make the best decisions with as much data as you can at any given point in time.

When you are planning in detail what to do in 6 to 12 months, you are making decisions with a large number of assumptions and little data.

I am saying this so often to our portfolio company founders and the team at BootstrapLabs that it is starting to sound like a mantra:

Have faith in your assumptions, but trust your data.

And sorry – you are not getting away from planning, which is just as important to create a shared vision and understanding of the road ahead within the team. The assumptions are not less important. You just need to understand that they are just assumptions, and when and how they turn into data.

In preparing for battle I have always found that plans are useless, but planning is indispensable. - Dwight D. Eisenhower

It is actually quite simple. When you launch a new startup, you are always underskilled and underfunded as you start to build, and you need to create a model of how you execute effectively where you are (shameless plug: we are trying to fix that with BootstrapWorks, still stealth – but sign-up for the waitlist!), while keeping your big vision in mind, and constantly reevaluating and changing the focus to adapt to the current situation.

Sequencing is make or break for building a startup.001

For example: You know you are addressing a large market, and your product and DevOps really need to scale. You know that if you hit Milestone C you are going to have a million users of your product. You are now at Milestone A, and the reality is that unless you focus 100% on nailing the core Product Market Fit with your early customers to get to Milestone B, you will neither know what is needed from the platform to scale to a million users, or raise the funding to do so.

Ben Horowitz talk about wartime and peacetime CEOs in his book, “The Hard Thing About Hard Things”. Using those terms, when you start a new company you need to be in the wartime CEO mode, otherwise you will not survive long enough to fight your first real battle.

All of this applies before finding an initial Product Market Fit and before raising A/B rounds to scale. At that point the same mechanics apply, but both at a larger scale and longer timeframe. And you need to plan for resources much further ahead. But that goes back to the core message of this blog post. You always need to execute and optimize for where you are at any given point in time.

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What most people don’t know about being a startup CEO/founder

Techblogs tend to paint a glamorous picture of how easy it is to raise a billion dollars in funding and build a startup. Reality is very different – it is hard work, a long journey and compared to a job, you are never really off the job.

quote-as-a-startup-ceo-i-slept-like-a-baby-i-woke-up-every-2-hours-and-cried-ben-horowitz-60-88-18

As a startup founder for 20+ years and counting, 10 years as an angel investor, and lately  a Venture Capital investor through BootstrapLabs, I have seen a number of interesting patterns in startup founder’s/CEO’s behavior.

One thing I think a fair bit about is the ‘obsessive’ behavior of successful founders that I advised and invested in for the past 10 years (and I see this trait in myself as well…).

Startup CEOs are working super hard, and not always at the office. They always seem to be preoccupied, which drives spouses and family members crazy sometimes.

It’s not that they are literally working 90+ hours a week in an office, doing work tasks such as coding, recruiting, selling, etc. Once they start to grow their team and begin getting traction, to be successful they need to shift into how to really drive the business. And they always need to be thinking about the next big thing, and how to get the company to the next level or stage of growth.

The reason for this is that startups are not really executing a business model, they are in search of a hyper scalable business model. And that search continues until they get escape velocity, die, or divest for other reasons.

So on the journey of a startup CEO you don’t have a quiet moment in your head most days, you are constantly thinking about your ‘baby’, and trying to figure out how to solve problems 24/7 around the clock 365 days a week (or sorry, I mean per year).

As I tell many founders that pitch us at BootstrapLabs, you need to surround yourself early on with a team that shares this ‘obsessive’ behavior to drive your startup forward. And your most important job is to find those people and make them excited about the being part of the journey.

So even when having dinner with friends, or taking care of the kids, or in the morning shower, the founder/CEO is thinking that to hit that $5 million annual run rate to raise the “A” round, you need to ramp up hiring of the sales force and marketing teams. And you need somebody that has experience in X and skills in Y. Or that a particular piece of the product is inhibiting the growth, or is not good enough to drive Product Market Fit, etc.

When launching a new startup: You usually start in a search & discovery mode – that seems to be all over the place for many of the people around you. But once you start to get data points and validation of what you do, you need to quickly shift into a very different approach that is laser focused. At the same time you need to stop every 2 weeks or so and question just about everything and make sure that your assumptions are still valid.

From early assumptions to Laser Focus: Once you have found what to zoom in on, your most scarce resource is actually neither money or time, but personal attention span – which is why most startup CEO’s go into a reductionist mode to create a clear focus on the most important things that need to happen to bring the company to the next level. If you focus on the right things at the wrong time, your company dies.

This is why there are a few key things you need to learn early on as a founder/CEO of a startup:

  • You need to recruit co-founders and team members that give you leverage (execute things independently better than you) – this will increase your attention to other things you do better.
  • Early on and for the core team, you need to find people that share your obsession & passion.
  • You need deep domain skills for the core things you are trying to do within the team, for everything else you need great advisors that can give you sharp insights a few times a month.

Because of the shift from discovery to reductionist mode, the early team is extra hard to build, as very few people are capable of shifting successfully between these two operating modes. In part, this is why it is so hard to find co-founders, since this prerequisite skill is so scarce.

After you have found a focus it becomes a tad easier, but you still need to build a core team with an almost obsessive drive to take things to the next level, and then work really really hard to become a Unicorn.

“No sleep for the wicked”

Steve_Jobs_Headshot_2010-CROP

About Focus & making your marketing cut through the noise

Anybody building a startup or marketing or selling something should listen to this piece when Steve Jobs talks about marketing.

The piece about focus is kind of important too, well worth 16 minutes of your time!

Venutre Capital Industry: at the dawn of a new era

Venture Capital Industry: At the Dawn of a New Era

2015 has been a banner year for BootstrapLabs. During the past 12 months, we led our first Series A round in an exciting FinTech company, all our portfolio companies raised follow-on funding at higher valuation and we continued to expand our Expert in Residence team to support our portfolio companies.

We believe that technology is a driving force for positive change in the global economy, in society in general, and our daily lives in particular. We continue to be impressed by the talent and passion our founders demonstrate every day and look forward to continuing investing in disruptive technology companies that can transform the way we live, the way we work, and the way we connect with the world around us.

Many believe private companies are overvalued, while others think the next tech bubble is coming. At the same time we see that seed stage investments, where BootstrapLabs focuses, are more vibrant and exciting than ever (e.g., a $25K seed stage investment in Uber would be worth ~ $125M at the $40B valuation mark; even if you assume that Uber is worth $1B, it would still be an investment worth ~ $3M, or 125x the invested amount).

BootstrapLabs is “deep in the stack” alongside its founders day after day, driving the venture market momentum forward. Our global innovation discovery network, combined with our Silicon Valley investment and execution model, provides us with a unique vantage point on what is happening in every corner of the world. Here is what we are observing:

The HOT tech industry is attracting new, mostly late stage, institutional investors that need to invest tens of millions per deal to move the needle.

In 2015, over 566 deals were financed by investment banks, mutual funds, hedge funds, asset managers, and others, while 78% of the deals over $1 Billion have been lead (read priced) by non-VC investors.

Rounds into Tech Companies

Rounds into Tech Companies

Late stage deals are becoming more competitive and less price sensitive due to a combination of i) pent-up demand driven by lower public market returns and the relative rarity of such high growth private technology companies and ii) more financial engineering and deal structuring that aims at lowering the risk for investors, independent of valuation paid (e.g. preferences, ratchets, dividends, etc.) Arguably, these higher valuations are behaving more like “out-of-the-money strike prices” of call options rather than rational valuations driven by operational and technological performance. The chart below outline the dramatic increase in valuation in the later stage as well as the larger amount of money invested by these non-VC investors.

late stage private company median valuation

late stage private company median valuation

Median round size for mid & late stage startup rounds by investor type

Median round size for mid & late stage startup rounds by investor type

There are also NEW sources of capital targeting the Tech Industry via Equity Crowdfunding and platforms that are driving retail investors into the venture market.

Global Equity crowdfunding amount

Global Equity crowdfunding amount

As these platform emerge and private companies can do “public offering of private equity”, secondary market for private equity trading/exchange will gain momentum and importance. One big signal of such trend was the recent acquisition of SecondMarket, the leader in the space by Nasdaq.

Why are non-VCs investing in the tech space?

Startups are staying private longer prior to IPOs today, which means that private investors are making the most of the value from their investment during the pre-IPO period. Traditional public investors, like hedge funds and mutual funds, are starting to realize that in order to capture more value they have to move earlier in the game and start investing in pre-IPO rounds (Private IPOs). See this prior post from Ben Levy, Co-Founder of BootstrapLabs on How to Milk a Unicorn…

Also, traditional VCs have realized that they have to invest earlier in the cycle in order to maximize their investments and not become irrelevant themselves in a world that is changing fast.

Value is Captured Earlier

Because it takes a lot less capital and people to build a proven and scalable product/model, early stage investment has become the most important and possibly the most lucrative part of the value creation chain in our opinion.

late stage valuation

late stage valuation

Later, Access is King

Late stage investors will only succeed if i) they can identify outliers early and ii) they can win a seat at the table during the next fundraising round (hint: money is not enough)

These structural changes, combined with deregulation, have created a once in a lifetime opportunity to form and scale new ventures, as well as new VC firms to finance them. As shown by this recent research report published by Cambridge Associate, more than ever before in the history of the Venture Capital industry, newly formed VC firms have been able to invest and capture some of the top performing startups.

Yet, the opportunities for individual investors remains limited as the industry is shifting to a new model/structure. Similar to the situation with established VCs and hot startups, an individual investor better gain access to future hot new VC funds/managers now, because the best performing funds will have limited access for existing LPs and possibly no access for non-existing LPs in their future funds.

Quality vs Quantity

The number of startups created each year has exploded and will continue to grow quickly as the cost of building technology companies has decreased by at least 10x in the last 20 years, and success stories continue to be blasted across the media as a source of inspiration and validation. The problem will be to identify the good startups as the noise level continues to rise.

Early stage growth no longer signals long term success and the ability to iterate, build and improve your product has become one of the most valuable success skills in the tech space. At BootstrapLabs we excel at finding top talent, bringing them to the best ecosystem (Silicon Valley) and supporting them in their full-cycle “build-measure-learn” iterations.

Innovation is a constant requirement for corporations to remain relevant and it is a pillar of subsistence for our society. Tech innovation will continue to grow and generate outlier returns for the best VCs (and their investors) in the industry. As someone recently mentioned to us “VC is at a dawn of a new era”. Just look at these numbers:

  • 3.6 Billion unique mobile subscribers in 2014
  • 2+ Billion people connected on major social media networks (1.4B FB, 250M TW, 300M LNKD, 300M Instagram)
  • 120x faster online speed (6.7 Mbps US average today)
  • 243 million machine-to-machine connections
  • 50 Billion connected devices by 2020
  • $1.7 Trillion e-commerce spend

The total of all the Unicorn valuations today is worth about half the value of Apple. Some of them will go public, some will be acquired. Apple could actually acquire most of the Unicorns and still have billions in its bank account to spare.

The slow growth in the number of IPOs is a consequence of a historical switch and the growing importance of innovation. Companies need to invest most of their cash flow in innovation, while public market investors expect short term revenue first. Many startups are building for long term success, and if they go public too early they will be unable to maximize their innovation or opportunity. As Marc Andreessen said during a recent interview: “It’s not a tech bubble, it`s a tech bust”… many of the innovation and technology companies are still undervalued and we are strongly optimistic about the great future in front of us”. So is BootstrapLabs!

Venture Capital Disrupts Itself- Breaking the Concentration Curse

Venture Capital Disrupts Itself: Breaking the Concentration Curse

Please note this is a short version of the Venture Capital Disrupts Itself: Breaking the Concentration Curse report published by the Cambridge Associates. At the end of this blog post you can find the link to access to the original file.


 

Venture Capital Disrupts Itself: Breaking the Concentration Curse

The Old Wives Tale … Conventional investor wisdom holds that a concentrated number of certain venture firms invest in a concentrated number of companies that then account for a majority of venture capital value creation in any given year. Therefore, LPs seeking compelling venture capital returns should only commit to a handful of franchise managers. And those are precisely the managers that do not offer access. Thus, LPs are “cursed” and will never experience the differentiated return pattern offered by venture capital exposure.

Is Flawed. As the venture capital industry and technology markets have evolved and matured, however, more managers are creating significant investment value for LPs, with value increasingly created through companies located outside the United States and across a range of subsectors. Specifically, our analysis of the top 100 venture investments as measured by value creation (i.e., total gains) per year from 1995 through 2012, an 18-year period, demonstrated:

  • an average of 83 companies each year account for value creation in the top 100 investments in the asset class for each year;
  • in the post-1999 (i.e., post-bubble) period, the majority of the value creation in the top 100 each year has, on average, been generated by deals outside the top 10 deals;
  • an average of 61 firms account for value creation in the top 100 investments in venture capital per year; and
  • the composition of the firms participating in this level of value creation has changed, with new and emerging firms consistently accounting for 40%–70% of the value creation in the top 100 over the past 10 years.

In short, the widely held belief that 90% of venture industry performance is generated by just the top 10 firms (which our analysis shows was somewhat relevant pre-2000) is a catchy but unsupported claim that may lead investors to miss attractive opportunities with managers that can provide exposure to substantial value creation.

You can access the full Cambridge Associates report here.

Behavioral Analytics- Just Keep It Simple

Behavioral Analytics: Just Keep It Simple

Today’s guest post is from Marianna Yanike Graf.

Behavioral Analyticsba

Summary: Behavioral analytics is the process of systematically sorting through data to uncover patterns of user behavior in order to gain an insight into user decision making. The better you understand your user, the better your company is at catering to your user’s needs and at anticipating them.  So, how do you make sense of human behavior? Just keep it simple.

 

Know Your User to Optimize the Present and Shape the Future

Behavioral analytics deals with understanding patterns of user behavior. Nowadays we have access to a wealth of human data.  Computing resources allow us to sort through it in a systematic way in order to gain understanding of human behavior.  Any company, large or small, wants to use this knowledge to deliver the most optimal interactions with its users and make meaningful predictions about the future.

Of course, what is considered optimal is unique to each company.  Optimal is often equated to individualized.  If you know your user, you can do many things to tailor your products or services to this user.  For example, you can optimize the design of your website to deliver the most relevant and timely information to your user (e.g. Amazon shopping card or Google Ads).  Ultimately, though, you want to be proactive at communicating with your user.  You want to predict, for example, when a next marketing campaign will be the most effective.  You want to stop guessing and start making informed decisions.

The accuracy of such decisions will depend greatly on how well you lay out the process starting from collecting data, analyzing them and eventually drawing conclusions from them. For rapidly growing businesses operating in an ever-changing environment, this can be a challenging task. How do you make predictions? How far into the future? Also, human behavior tends to be irrational in general.  Often our behavior is not driven by logic alone. So how do you analyze complex beings in an ever-changing environment?  By keeping it simple.  By asking specific questions, by finding simple answers and by doing it often.

Define Your Problem and Ask Specific Questions

When it comes to looking for answers, the most important part is formulating your question right.  You can always find a data scientist to apply the most rigorous model to your data.  However, if the question is ill posed, the answers will not be useful.  Make sure you know what your users want, as opposed to what you think they want.  For example, you want to figure out the best time to send out marketing updates to your users. Either you ask your users directly, or you test a few options by selecting a representative user subset and seeing how they react to the same updates sent out at different times. In other words, if you want to know X (best time for updates), change Y (time: beginning/end of the week; weekly/biweekly) and evaluate outcomes. Essentially, it’s about keeping it simple.  First define a problem, then formulate a question and think of possible answers.  Keeping it simple doesn’t mean that you have to ask only one question.  Quite the contrary, try to formulate many specific questions and find simple solutions for each one of them.

Find a Simple Solution

Once you have formulated your problem, you need to decide the best way to address it.  While it may seem like a logical approach, analyzing all data with a complicated model will not necessarily give you the most accurate answers.  Why? Well, it’s like looking for a needle in a haystack.  You are better off breaking down the haystack into many small ones and looking through each one individually.  You are even better off if you can find the ones that are most likely to contain the needle.  Big data are complex, capturing many dimensions and patterns, and yet often biased and incomplete.  So overreliance on data analysis alone can produce complicated answers devoid of reality.  Your logic and intuition are very useful for guiding you towards the simplest solution. For example, you want to create a new marketing campaign and tailor it to different users.  Typically we think of demographics (e.g. age, gender, social platform preferences).  But, you can also think about the timeline of how you have acquired those users (e.g. cohort analysis).  

Do it Often

Probably the most important reason to use behavioral analytics in the first place is to make informed decisions about the future.  Predicting the future, though, is challenging because all we can do is look into the past.  Nowadays businesses operate in a fast paced environment and the dynamics of user interaction and/or needs can evolve or shift rapidly.  When it comes to making predictions under such conditions, doing it often (frequently) is a reasonable approach. Why? Many models tend to train themselves on data to extract trends and make future projections.  To accommodate for the fast dynamics of your business, you constantly go through a cycle of formulating a problem, collecting data, and making an informed decision to resolve it.  Every time a change is implemented, user behavioral patterns can change too and the data become biased by the change.  That is why time is an important factor.  The dynamics of your business operations will determine how often you should forecast.  


Marianna Yanike Graf, Ph.D.

Marianna Yanike Graf is a research scientist with strong interest in behavioral analytics.

In addition, Marianna is also a brain decoder, data-artist, art-constructor and an Expert In Residence @ BootstrapLabs.

The ideal team look for integrity energy and intelligence marten mickos

The ideal team: look for integrity, energy and intelligence

Today’s guest post is from Marten Mickos.

The most unlikely teams may soar to the most amazing success. For that reason, it’s not easy to define the ideal startup team. Here is what can be seen over and over again in successful teams:

  1. Each member of a winning team puts the success of the enterprise above the success of themselves.
  2. They have shared values and divergent opinions. They learn and adapt as a team.
  3. Everyone is passionate about customers. Each member of the team is focused on making the company’s customers successful.
  4. The entire team loves strategy development. Everyone engages in discussions about vision, purpose, strategy and also short-term goals.
    From the passion for customers (#3) and the passion for strategy (#4) comes the ability to develop the value proposition, the product and market fit and a useful business model – things a startup must get right in order to start scaling.
  5. At least some but rarely all are strong leaders with an ability to hire, inspire and retain great talent.
  6. Everyone and everything is action oriented. Stuff gets done. Everyone in the team knows that the five points above are worth nothing unless accompanied by execution. The execution is quick and precise.

FishArrow-e1444933564399-1024x655

When you are building a team, look for integrity, energy and intelligence, in that order. Those three characteristics are the foundation of success. Only people with high integrity will put the success of the enterprise above the success of themselves. Only people with high integrity can make teams with divergent opinions productive. Without energy things happen too slowly, and quality deteriorates. Worse, low energy is a predicament that negatively affects the surrounding team. Treat the word “intelligence” here in the broadest meaning: presence of useful skills combined with an ability to quickly learn more.

Within the scope of integrity, energy and intelligence, hire for strength. This means that you should look for people with the particular strengths that the team needs, and then make those strengths productive. You can always work around the weaknesses, and you must do so as everyone has weaknesses. Don’t try to hire “well-rounded” people with few weaknesses, because then you will get few strengths. Look for strength. Look for that unique talent that will make a huge difference for your company, and be prepared to then manage around everything else. But although you will tolerate weaknesses, never tolerate deviation from the core values of the organization. A weakness in a particular skill is a tactical problem that can be solved. A weakness that shows up as a deviation from the organization’s core values is not fixable. Do not hire people who do not subscribe to the values of the organization.

Be aware of the “non-vital positives”. Most people have a set of strengths and accomplishments that look and are good, but are not vital for success. Having attended a top-rated university or worked for a famous company is such an example. Nothing wrong with that, but in itself it proves little. Being well spoken is another. It’s a useful skill, but it’s not among the top 10 requirements. Knowing the same people or being member of the same club is another example. Nothing wrong with it, but it is not a defining characteristic. You should just hire for the specific strengths that you know the company needs.

Finding the right mix of culture and values is difficult. On the one hand, there must be shared values in the team. On the other hand, diversity and divergence in opinions is absolutely vital for sustained success. Don’t hire people who are like you or think like you. Hire people who are unlike you, but who share the few core values that you have stated as the cultural foundation of the company.

Hiring the people is just the first step in building a world-class team. After hiring, you start making the strength you hired productive. The best guidance on this can be found in Peter Drucker’s book the Effective Executive, in the Making Strength Productive chapter:

“The effective executive makes strength productive. He knows that one cannot build on weakness. To achieve results, one has to use all the available strengths—the strengths of associates, the strengths of the superior, and one’s own strengths. These strengths are the true opportunities. To make strength productive is the unique purpose of organization. It cannot, of course, overcome the weaknesses with which each of us is abundantly endowed. But it can make them irrelevant. Its task is to use the strength of each man as a building block for joint performance.”

As you build the ideal team, don’t lose sight of building yourself. No one is ready – ever. We have to keep managing and developing ourselves. We may think that we cause change in the organization by changing others. It is true that we can influence others. But the real source of change is within ourselves. If you want to make a change in the team or the broader organization, start with yourself. Set the bar high for your own development and improvement. But also be patient with the outcome and remember to appreciate and support yourself as you evolve. Focus on your own strengths, and ask your team to help you manage around your weaknesses.

An ideal team is a rare occurrence. When it happens, it is the crowning of all your efforts as the leader. When a good team becomes a great team, the whole company rises to a new level of performance. Everyone knows that you can accomplish anything together. It is a feeling of enormity.

This post was originally published at School of Herring.


MartenMickosMarten Mickos | @martenmickos

Marten Mickos is a Silicon Valley entrepreneur and business leader. The knowledge he shares has been gathered first-hand through his various experiences of utter failure and smashing success. As the CEO of MySQL he pioneered open source software and built a company worth a billion dollars. At Eucalyptus he recovered strongly from near-fatal hardship. As SVP at Sun Microsystems and Hewlett-Packard he has experienced leadership at the largest scale. He is a Silicon Valley Finn passionate about leadership and disruptive businesses in an open and distributed world.