Ep. 77: {Rebroadcast}: Freedom, Global Entrepreneurship and the Possibilities of Cryptocurrency with VC Tim Draper

“Venture capital, to me, is a way that we can raise money to help entrepreneurs who can go out there and do something for the world that just opens it up. I am always pushing for freedom, and I think it’s great to see venture capital be able to support entrepreneurs—wherever they are—to go out there and do something extraordinary for freedom.”

Tim Draper is the founding partner of Draper Associates as well as Draper Fischer Jurvetson (DFJ). His gift for assessing the fastest way to get a service to its users was instrumental in the success of viral communication networks like Hotmail and Skype. He has been an early investor in several wildly successful startups including Baidu, Tesla and Cruise Automation. Tim is recognized as a leading supporter of global entrepreneurship, and he was named #7 on the Forbes Midas List, #1 Most Networked Venture Capitalists by Always On, and World Entrepreneurship Forum’s 2015 ‘Entrepreneur for the World.’ In 2011, he created Draper University, a residential and online school that seeks to help talented young people meet their entrepreneurial goals.

Today Tim offers his definition of entrepreneurship and his journey from aspiring entrepreneur to venture capitalist. He shares his take on the ideal relationship between VC and founder and the sectors he is looking to invest in right now. We explore the world of cryptocurrency, discussing its potential to transform governance, how innovative VCs are trying new things with Bitcoin, and what the industry can learn from the P2P music and media revolution. Listen in to understand why Tim equates freedom with wealth and how to leverage the ripple effect of optimism.

Topics Covered

Tim’s definition of VC
Give entrepreneurs the means to ‘do something extraordinary for freedom’
Draper Venture Network is taking best practices global

Tim’s entrepreneurial evolution
VC affords opportunity to dabble

The relationship between a VC and founder
Look for a fit, VC that can bring something interesting to the table
Tim’s strengths lie in designing business models and networking

The sectors Tim is looking to invest in right now
Anything blockchain has to offer
Cryptocurrency has ability to transform real estate, insurance, banking and government

Tim’s take on how cryptocurrency will transform governance
World more elastic, flexible
Functions of government done more efficiently on blockchain

How innovative VCs are trying new things with Bitcoin
Tim was first to invest in company with cryptocurrency, use smart contract

The best advice Tim got from his VC dad
Personal connection matters

What cryptocurrency can learn from peer-to-peer music/media revolution
When status quo threatened, they will retaliate (e.g.: lawsuits, government intervention, competitive threat)
‘Technology wins all the wars’

Control vs. technological advancements
Countries relying on own currency lose out
Entrepreneurs, money go elsewhere

The ripple effect of optimism
Fear keeps people in boxes
Accomplish much more if you ‘just go’

Connect with Tim

Draper Associates http://www.draper.vc/
Draper Associates on Twitter https://twitter.com/drapervc
DFJ http://dfj.com/index.php
Draper University http://www.draperuniversity.com/
The Startup Hero on YouTube https://www.youtube.com/playlist?list=PLUrqcWVF3uelGlK-6sXGjLgKu_JlhW_3l
Tim Draper on Medium https://medium.com/@TimDraper/the-pledge-f18e12013785
Meet the Drapers https://republic.co/meet-the-drapers

Resources Mentioned

The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs by William H. Draper III https://www.amazon.com/Startup-Game-Partnership-Capitalists-Entrepreneurs/dp/0230339948
Bionomics: Economy as Ecosystem by Michael Rothschild https://www.amazon.com/Bionomics-Economy-Ecosystem-Michael-Rothschild/dp/0805019790

Connect with Boost VC

Boost VC Website https://www.boost.vc/
Boost VC on Facebook https://www.facebook.com/boostvc/
Boost VC on Twitter https://twitter.com/BoostVC