This morning at PulsoConf, we got a chance to hear from one of the most elusive sectors of the tech ecosystem – the investor. Adam D’Augelli, an associate at early-stage investment fund True Ventures, gave a presentation titled Missionaries, Mercenaries and Madmen – The Key is to Just Start. Inspired from conversations from the evening before, he tweaked his speech to discuss the history of Silicon Valley, the common elements of successful startups and his point-of-view of the tech world.
D’Augelli observed that in Colombia and Latin America, there is a prevailing fear of failure and hesitance to start a company without thorough analysis and planning. In Silicon Valley, in turn, failure is seen as “the best thing in the world” and planning “is like a dirty word.” He encouraged entrepreneurs to get their ideas to the market right away and their products in the hands of consumers as soon as possible. Because starting a company today is so much easier to do now than 10 years ago, it’s best to see how consumers will react to it right away to avoid wasting time.
He went on to name five essential elements in the startup community today: focus, emotion, community, story and passion. These, he said, are the keys to surviving in an industry that, while “cool and sexy” now, is extremely difficult to exist in.