Silicon Valley, New York, Ann Arbor discussed on Masters in Business

Automatic TRANSCRIPT

Like folks were financing on S one one threats in an eight or nine and that didn't play out very well for them. And I think you're seeing the companies take the time and build the scale necessary to get. Right, right. When when the IPO actually ends up happening quite interesting, let let's talk a little bit about the sort of venture investing. You guys do at revolution. What sort of returns? Are you looking for on any specific of fund or any specific investment? Yeah. You know, we're we're a traditional V C. You know, we wanna put a dollar in the machine and get more than dollar, hopefully, hopefully, a five or ten coming back on out of the machine. But but but to me the goal is also about building these great icon companies that are tackling some of the toughest problems that we as a society are facing around, healthcare and education, transportation food security and things like that. Because I think that those are those are going to be big winners for investors over security. Having great in an open access to healthy clean food options. Because we're we're we're still trying to make sure that we have a healthy population. And there are lots of businesses that are working really hard to get farm-to-table is is the huge now the yeah, the the rule of the day, but but just trying to figure out how do we make? How do we do that at a sustainable scalable level? Right farm-to-table in Brooklyn, or or the city or even the suburbs are small restaurants and local farmers, and it's very high end and very chichi. You're talking about a much broader approach, and and I want to mention industries that you're looking to disrupt include food healthcare transportation agriculture. These are like basic foundations of society. How can you disrupt those? Yeah. So the way that we think about that. And we largely see opportunity through the lens of geography, and that we think that you know, the the if. You're going to come out with the newest Pharm tech business kinda hard to see how that's going to be a guy from midtown Manhattan coming up with us to say or a lady from Silicon Valley who's going to be able to come up with those ideas, who's never spent time on the farm. And we think that there are, you know, lots of experts in places like demoing or Saint Louis who know a bit about farming and agriculture within their lots of manufacturing experts who who come out of places like like, Detroit and Ann Arbor who can help us Bill things as as a country. And so we we think that those types of opportunities are gonna come perhaps outside of the valley and outside of New York and let let me be clear because it was one of the criticisms we get our fund a lot is about about bashing the valley, and we are definitely not not bashers of the valley. We appreciate looking valley. They are the cathedral that every other city aims to be as it relates to sort of allocating capital in the Sesing risk for for early stage entrepreneurs. And and I tell you know, a lot of the city's when we go into our always ask us, what's. One thing that they do in the valley better than what we do, you know in pick a city and the answer's always they accept failure. And they accept risk so differently than you know, ninety percent of the cities in the country because because it's it's it's just woven into the house of Silicon Valley things fail but out of that like like Phoenix's, you know, these great companies can emerge from entrepreneurs who've had massive failures. And so we go ahead. We just we love to to highlight. You know, we're not we're not looking to steal share from New York or Boston of the valley. We're looking to grow the denominator and say, you know, if seventy five percent of all venture capital went to three states last year, Massachusetts, New York and California one percent of venture capital, go some place like Michigan one percent goes to Georgia. There's a lot of smart people in those states..

Coming up next