In November 2010 as part of my interview about entrepreneurs and Customer Development, the Shoshin Project also asked me about my thoughts on investing in innovation. They wanted some words of wisdom for their investment bank and hedge fund customers.
This falls into the “Asking someone who was handy versus knowledgeable” category. (I was a entrepreneur who retired at the right time, not a VC or hedge fund manager.) But never one to miss an opportunity when the camera was rolling, I shared my thoughts for five minutes.
Fast forward to today. Given Goldman Sachs’ $500 million investment in Facebook at a $50 billion valuation it appears someone might have been listening (particularly around 2:35 mark in the video.)
Reprinted from SteveBlank.com
Steve Blank is a prolific educator, thought leader and writer on Customer Development for Startups, the retired serial entrepreneur teaches, refines, writes and blogs on “Customer Development,” a rigorous methodology he developed to bring the “scientific method” to the typically chaotic, seemingly disorganized startup process. Now teaching Entrepreneurship at three major Universities, Blank is the author of Four Steps to the Epiphany. Follow him on Twitter @sgblank.