Tim Draper is known for breaking out into song with The RiskMaster.
I was fortunate enough to attend the Kellogg 2009 Private Equity and Venture Capital Conference. The conference's keynote was given by Tim Draper, a founder member of the prestigious venture capital firm Draper Fisher Jurvetson.
What I found most interesting in Tim's presentation was the three things that he looked for in companies that he invests in:
- Zeros a typical cost in the business model. e.g. Hotmail removed cost of delivering post, Amazon removed cost of inventory.
- Revolutionises some existing business. e.g. Hotmail revolutionised postal mail, Amazon revolutionised bookshops.
- Solves a problem.
It makes you wonder: how can you take any traditional business and zero its cost in the new media world?