How to engineer “a liquidity event from God”
One of my heroes, Steve Blank, has just given a terrific interview over at Giga Om. Here’s the money section that starts almost exactly at the 14 min mark:
What is that I want to do in this bubble? As I said, in this one, the valuations are not going to be based on concepts. I think they are going to be based on either large networks of 10s or 100s of millions of users, or they’ll be be based on high revenue growth, or maybe a combination thereof. I would use the money to buy scale as quickly as possible. I would use the money to buy visible as quickly as possible. Not for BS, but to promote the first two items. And that’s an opportunity that can easily be squandered if you don’t think about it strategically. The goal in this bubble is to be the largest possible business, not to become boo.com. Boy if you are smart entrepreneur with a big pile of cash, I believe you can engineer a liquidity event from God.
Here’s the entire video, cued to the right spot. Enjoy!