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Congrats to Backupify! A Great Exit Story for the First Company I Ever Backed

This is going to be BIG.

Rob messed around with some local video thing in 2008, which everyone but Rob thought was a pretty terrible idea. Later that year, I sent a tweet that inspired a company that initially only Rob thought was a pretty terrible idea: Using FlickrEdit and a JungleDisk network drive to backup all my Flickr photos to S3.

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Things Will Be Different

This is going to be BIG.

The Financial Crisis of 2008 sure seemed bad in the moment as well. It was built on a network of drivers woefully unprotected by labor laws, without healthcare, wage production or unemployment benefits—the consequences of which are now painfully all too obvious and should seem a little less like a source of pride.

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The Big VC Thaw – Why The Market is Moving Again (part 2 of 3)

Both Sides of the Table

In my previous post, The VC Ice Age is Thawing (for now) I wrote about the reasons why the VC market came to a screeching halt in September 2008 and remained largely shut until at least April 2009. Notice that I didn’t say “social networking.” Let’s be honest – the same is true for VC’s. Seems an obvious fit.

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What Will Happen In 2024

A VC: Musings of a VC in NYC

That is good news for the innovation economy because healthy capital markets are a necessary support system. The AI “stack” has emerged with Large Language Models and other important models (like audio, imagery, video, etc) operating in the cloud with well-documented and supported APIs that are available to developers to build on.

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Want to Know How First Round Capital was Started?

Both Sides of the Table

In 2008 they raised a much larger fund $132.5 CEO Network – CEO’s from the portfolio companies are introduced to each other. This becomes a support group and allows them to help each other succeed. They decided to run the fund close to home in West Conshohocken, PA where they still have offices.

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The Unsurpassed Value of Surrounding Yourself with Like-minded Entrepreneurs

Entrepreneurs' Organization

We also asked how membership in EO’s global network provides value by empowering them to confide in their peers in the confidential space of EO Forum , which can help entrepreneurs move forward through challenges to achieve their full potential. It’s incredibly valuable to have overall support from likeminded people.

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The Founder’s Playbook: Winning Mindsets & Startup Strategies

American Entrepreneurship

Networking & Collaboration Building relationships, seeking mentorship, and leveraging partnerships for growth. Risk-Taking: He reinvested his entire PayPal earnings (~$180M) into Tesla and SpaceX, nearly going bankrupt in 2008. Resilience: SpaceX had multiple rocket failures before successfully launching into orbit in 2008.