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Crypto Heidi interviewed Tim Draper at Global Disruptive Innovation Summit on Oct 1, 2018, held in Silicon Valley.
I'm Tim Draper and I am a venture capitalist. And I also started a university called Draper University of heroes for great entrepreneurs. And I wrote a book called How to be the startup hero. And it's just being translated into Chinese now. So it's almost out. We had to make a few tweaks because words like carried interest were not familiar to the person who is doing the translating. So they didn't realize that it's a Prophet's interest. So some of the words have to be changed. But otherwise, we're ready to go.
You are an investor and also you have a school, what else do you have?
We have an incubator, we bring entrepreneurs in. And then we have a network of venture capitalists called the Draper Venture Network. And we have a team in China Draper Dragon, we have a team in Japan Draper Nexus, we have a team in Europe, trade for a spree. And then many other groups out there that are that all kind of work together. And that helps us be better venture capitalist because we have a global perspective.
So we have a group of people just getting into the blockchain space or crypto space. Can you give one sentence to tell people why this is so important?
The great thing about cryptocurrency is that it is not tied to a government. Governments control you by controlling your currency. Governments have to switch from control to service. Governments have to start thinking in terms of how do I attract citizens to my government, as opposed to you live here, you work for me. I think that is going to be a change that's slowly starting to happen around the world.
I think the Japanese government has recognized this, they said they recognizing that there was some question as to whether people would accept Bitcoin, they said bitcoins, a national currency in Japan. And that attracted people to Japan, it attracted entrepreneurs, businesses, money, they all decided they'd go there because they thought, well, Japan is thinking of the future, and Japan is thinking of attracting me to their country. Other countries are not doing that. And I think they need to. I think they need to recognize that the world is now open, and as a government, you have to serve your people, instead of the other way around.
So as a venture capitalist also entrepreneur yourself. Do you have three recommendations for people are just thinking about getting have their own startup?
One is looking around at all the technologies that are out there, and see how you can use one of those technologies to, and apply that to the industry that you're in. And see if you can create a technological edge in your business.
The second thing is to make sure you surround yourself with really good people who you have a lot of faith in, who can do the things that you can't do for your business, or who do the things you don't want to do for your business.
And then the third thing is, take the first step, just do it. Just get out there take a step to try it see what happens.
And then I guess if I had a fourth it would be applied to Draper University.
So for right now, the market is really bearish, when do you think the market will be back?
When the market bounces around based on what somebody says in the press, and that they believe it and then they believe something else and then they believe something else. I am bullish long term because I believe that no one will want to hold on to a currency that's tied to a government when there's a currency that's just as good that is decentralized and not tied to a government. So most people will move to Bitcoin and other cryptocurrencies.
#GDIS #GDIS2018 #TimDraper
Global Disruptive Innovation Summit (GDIS) is hosted by Silicon Valley Business Institute (SVBI). SVBI is founded in Silicon Valley since 2015, with wealth of innovation & entrepreneurship resources, having deep relationships with leading companies, incubators and business schools, more important, it provides enterprises a global platform and promotes global business innovation and revolutions.
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