Ep 99: 500 Startups with Dave McClure
March 17, 2015•50 min
Note: I want to apologize up front for the sound quality on this episode. We tried everything we could to get it as clear as possible but we thought this interview was so good we didn’t want to discard it. Thanks in advance for struggling though – I promise it will be worth it. Dave McClure has taken a slightly different path towards the funding of startups. He gets in early in a lot of company’s and expects about a third to fail. He didn’t start investing as a venture capitalist until a little later in life and wasn’t sure if he was already too old. Dave’s story runs through some of Silicon Valley’s best companies Facebook, PayPal, Mint.com, Simply Hired and others. So how did he deal with the fact that many of the people he worked side by side with wound up becoming billionaires? By being so well connected and knowing so many people opens the door to a lot of opportunities but that doesn’t always mean your smart enough to pick the right ones. Dave tells James the story of how he passed on being one of the first investors in Uber. He passed on the investment and that decision has probably cost him millions. He tells James why he’s taking his company 500 Startups global. Valuations around the world are often cheaper outside the US but the real benefit may be to find companies that no one else is looking at. Listen today to a great story of someone who may have started a little later in life but has built an amazing company P.S. Hi James here… My new book is finally out! It's taken me a year to put together all the skills I think are needed to create abundance in this new economy. I hope you write me with feedback and questions. I have more books coming. Here's what the initial reviews on this book have said: "James Altucher did it again. I just finished and have to say it was a great read. Great insight into the future of wealth." "I couldn't wait for this book to come out. It was well worth the wait! Very short and jam-packed with good ideas and advice for the budding entrepreneur. A must read!" "This is the road map out. Very specific ideas to get you unstuck and to thrive in the 21st century. If you follow the ideas in this book your will receive 1000% or more in return on your investment." I'm really grateful for the response I've received so quickly. I feel we are quickly building a strong community of people who are deciding to "choose themselves". If you want to get it exclusively in hardcover, plus several other special reports, and a subscription to my brand new newsletter, which is essentially like the equivalent of two additional chapters every month, claim your copy here.