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How Ron Conway became the Valley's most influential start-up investor
- hga 17y agoTremendously high signal to noise ratio article, highly recommended. Helps you understand how he's more than just the ultimate networker in SV, how making 500 angel investments in 15 years has worked out well in the long run.
- Harj 17y agoHelps you understand how he's more than just the ultimate networker in SV since joining yc, i've met a lot of people and come to realize there's two types of 'networkers' and it'd be unfair to class Ron as a 'networker' without defining the distinction (as i see it): - empty networkers: people who spend the majority of their time meeting other people, ensuring everyone knows their name, telling entertaining stories with a drink in their hand and promoting their personal brand at every opportunity. the only email you receive from them are ones asking you to do something for them or their company without offering anything specific in return. a lot of biz dev people fall into this description, especially old school ones at big companies. - connectors: people who make a real effort to know who you are, what you're working on and how they can help you. these people follow up via email and make intro's for you, without you even asking. they're universally well liked because there's a large number of people they've helped in some way, who are continually telling other people about the story of how X helped them. Ron is the definition of the second type. In just three months, I've lost count of the number of useful introductions he's made or things he's helped with. Granted he's an investor in YC so he has a reason for doing so but he goes beyond the standard level of being helpful into something more, it's that bit extra he doesn't have to do. I intend to model my approach to 'networking' entirely upon how Ron does it - by being genuinely benevolent and helpful to people I meet.
- alain94040 17y ago- connectors: people who make a real effort to know who you are, what you're working on and how they can help you. these people follow up via email and make intro's for you, without you even asking. How does one make a living from being a connector? It sounds like a lovely job, but there's a reason why more people are empty networkers: they are pushing their own agenda to make a living. I know you could say that one should take the long term view, and that if you are a great connector, eventually good things will happen. It's like saying that you should start a blog to find a job. The blog won't make you money, but it will land you a job (maybe). Connecting people may land you a great job at some point. Too bad, I wanted to keep being a connector. How do I do that?
- rdl 17y agoBecome an angel investor. Part of the value-add in your investments of money is your willingness to be a connector for portfolio.
- adrianwaj 17y agoRon Conway would be privy to plans of many companies, and in connecting it reinforces his deal flow as startups think "he may not invest, but he may know a first customer or an alliance partner with whom he is also privy, and then if he does invest, we know he'll be doing the same for us permanently without us asking." In this case, Conway's benefit from the connecting is a reputation of such that causes further deal flow, and this is the fuel of his business. Other forms of monetizing connecting include finders fees, commissions, and direct work to realize the connection, eg documentation in an M & A deal. But if the connecting has no direct benefit to oneself in the ways mentioned, the only thing one can expect to gain at best is improving one's aura, frequently just being sidetracked, or at worst doing something for a competitor. -- if one does a random connect and one has no direct relevancy to the underlying commerce, the parties at best may remember you if you ask for some type of help later (they may also request or expect more free service from you, seeing you as a sucker), and at worst want to avoid you in the event they fear you'll want or demand a share of the gains later from the success of the connection with which they never requested.
- TotlolRon 17y ago> "Ron is the Internet," will.i.am said. I would have said that maybe this was a little hyped. But my name is Ron, so I think it is 100% correct.
- stevenbrianhall 17y agoMy favorite part of the article: "One of his [Conway's] investments was a podcasting startup called Odeo run by Ev Williams. Odeo failed, and Williams took the unusual step of returning his investors' money. "I thought that was a magnanimous gesture," Conway said. "I decided to set that money aside and invest in whatever Ev did next." It's really the ideal situation to be in a position to be able to return an Angel's money, but Ron's comment seems to sum up why he's a good person to know. He strikes me as the quintessential investor that lots of people talk about, one who invests just as much (or more) in people as in their ideas.
- adrianwaj 17y agoSummary: SF baby boomer makes money in the corporate world in marketing. Starts a startup which goes public in early 80's. Becomes a CEO again. Takes earnings and then invests in emerging area of web and IT startups in 90s, with larger than average angel funds he setup. Burnt in the dotcom bubble, but saved by stakes in Google and Paypal. Says 'no' more often these days, but continues helping people out wherever he can and seeing continued deal flow. Good on him, I wonder what his technical knowledge is like.
- callmeed 17y agoOut of curiosity, how does one pitch to Ron/SV Angel?
- gsmaverick 17y agoGet an introduction from someone in his network. As far as I know this is the only way you can pitch him.