Tim Draper’s Keynote at ETRE

I know that it was laced a bit, but we liked Tim’s keynote. Why? It was original and it was in keeping with his maverick innovative style (almost can’t use the world “maverick” anymore in this political climate).

He addressed the price of being pessimistic – which he used a simple example – if you bought TBills in the 80s it would only be worth $5,000 USD today versus stocks which would be worth about $15,000 to $20,000 versus venture which would be $150,000 to $200,000. See his point?

He was clear about how much he dislikes Sarbanes Oxley and how it has stiffled entrepreneurial growth through the paying of  “blood money” to accountants, but he also talked about the cost of communism (India and China are rocking), opportunity versus entitlement, earnings versus rights, business solutions versus government intervention and Let losers die versus bailout (re: AIG). He was all about enough with the fear, that we all needed to keep moving and not be paralyzed by that the media had fed and to move forward with optimism.

He also nailed what is driving a lot of the technology change today – acceleration — the world has opened up through all the communication that is available to us and since we are all connected through technology we are truly world citizens – peace, scientific breakthroughs, global campaigns, borderless citizens  – connected no matter where we are. This does make a difference in terms of product adoption as a new product spreads must faster than ever before and the adoption of tech has accelerated this.

Innovation has changed they way we shop, think, eat process. Amazon rennovated the  bookstore
Hot Mail the  post office, Skype the phone companies, Google the broadcasters. These businesses solved problems, maybe they made some more problems -but they also rennovated traditional forms of business through technology.

He also addressed the one topic that we had been talking about for weeks and said what we hav been saying… the Markets are not efficient and they don’t value things accurately, but they serve a purpose. Simple. Well put. Thanks Tim.

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Tags: Draper Fisher Jurvetson, Timothy C. Draper, venture capital