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Quote of the Week: Beating The Odds

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November 20, 2013

“It’s really hard, and highly unlikely, to build or invest in a billion dollar company. The tech news may make it seem like there’s a winner being born every minute — but the reality is, the odds are somewhere between catching a foul ball at an MLB game and being struck by lightning in one’s lifetime. Or more than 100x harder than getting into Stanford.”

 

Who said it: Aileen Lee, founder CowboyVC

 

In Context:  Lee’s venture firm has done some research on the characteristics of billion dollar exits for venture-backed companies. She says the chances of a consumer oriented Internet venture achieving a billion dollar valuation was 0.07 percent. She came up with a profile of the typical entrepreneurial team, mid 30s, track record of working together, and based in San Francisco, but she warns strongly that it is not that simple, to simply tick the boxes, and that is where the above quote came in. (Image source: YouTube Disrupt 2012)

 

Where we found it: CowboyVC blog

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