James Currier

So if someone is in San Francisco and they get offered $400 million, the guy they were sitting next to at the soccer game sold his company for $2 billion or just raised at $4 billion. For $400 seems like a loss. If that person is in Toronto, they're going to be the king of Toronto. for the next 20 years.

So if someone is in San Francisco and they get offered $400 million, the guy they were sitting next to at the soccer game sold his company for $2 billion or just raised at $4 billion. For $400 seems like a loss. If that person is in Toronto, they're going to be the king of Toronto. for the next 20 years.

And so someone's willingness to keep going and their craziness to keep going is influenced by how crazy the people around them are. And Europeans are really reasonable people. And most people are really reasonable.

And so someone's willingness to keep going and their craziness to keep going is influenced by how crazy the people around them are. And Europeans are really reasonable people. And most people are really reasonable.

It's the crazy ones that are kind of out here, which is why most of the big exits are in the Bay Area and increasingly why they're in Israel, because there's enough crazy people in Israel that are now there. So the people who are

It's the crazy ones that are kind of out here, which is why most of the big exits are in the Bay Area and increasingly why they're in Israel, because there's enough crazy people in Israel that are now there. So the people who are

trying to decide if they're crazy or not can be influenced toward the crazy end of the spectrum, which is what we as venture capitalists want, and which I think is the most fun in the end.

trying to decide if they're crazy or not can be influenced toward the crazy end of the spectrum, which is what we as venture capitalists want, and which I think is the most fun in the end.

If you have a question, you shouldn't be.

If you have a question, you shouldn't be.

If there's a question, if you're worried about it or wondering about it, you know, just live your life. Just take your job. Enjoy your days. Like most entrepreneurs are not going to affect the world. And if you're working in a big company, you will not affect the world. That's fine. Most of us won't affect the world. There's just a few people who will.

If there's a question, if you're worried about it or wondering about it, you know, just live your life. Just take your job. Enjoy your days. Like most entrepreneurs are not going to affect the world. And if you're working in a big company, you will not affect the world. That's fine. Most of us won't affect the world. There's just a few people who will.

So just enjoy your personality, enjoy your family and enjoy your community. And don't stress about it. Look, what happened was in 1994, before we had the browser, entrepreneurship was not high status. The people who would come into Battery and pitch us, they had maxed out 16 credit cards, they had a mortgage, and they were already doing 3 million of revenue.

So just enjoy your personality, enjoy your family and enjoy your community. And don't stress about it. Look, what happened was in 1994, before we had the browser, entrepreneurship was not high status. The people who would come into Battery and pitch us, they had maxed out 16 credit cards, they had a mortgage, and they were already doing 3 million of revenue.

And they were hoping for 2 million of investment for us, and we could buy like 30% of the company. They had dandruff on their jacket, they had bad glasses, they had like a $90 suit on. These were autistic people mostly. These were people who couldn't work anywhere else. They were being driven into being entrepreneurs. They were very awkward, most of them.

And they were hoping for 2 million of investment for us, and we could buy like 30% of the company. They had dandruff on their jacket, they had bad glasses, they had like a $90 suit on. These were autistic people mostly. These were people who couldn't work anywhere else. They were being driven into being entrepreneurs. They were very awkward, most of them.

That is not the case anymore because being an entrepreneur became high status.

That is not the case anymore because being an entrepreneur became high status.

Right. And so a lot of people are considering entrepreneurship because they want status, not because they're actually entrepreneurs. They want to be successful entrepreneurs. And you can't be naive about this because we look at 10,000 companies a year. We invest in 20, 25. So a tiny fraction, 0.2%. So we reject 99.8. Now let's say we invest in 20 good ones. Of those, how many will be successful?

Right. And so a lot of people are considering entrepreneurship because they want status, not because they're actually entrepreneurs. They want to be successful entrepreneurs. And you can't be naive about this because we look at 10,000 companies a year. We invest in 20, 25. So a tiny fraction, 0.2%. So we reject 99.8. Now let's say we invest in 20 good ones. Of those, how many will be successful?