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I started Idealab with a dream to make something like a modern version of Thomas Edison’s Lab where we could test ideas under one roof and then spin them off into separate companies. These companies would have their own management teams and their own equity pools, while at the same time benefitting from shared experiences and resources.
With lots of help from so many great people, my dream became a reality. We have come up with more than 5,000 ideas, started more than 150 companies, and had more than 50 successful IPO’s and acquisitions. We are most proud that we created more than 10,000 jobs and thousands of new entrepreneurs.
We learned lots of lessons - some great and some painful - and it’s my honor to share them with you here. If even one tiny bit of one of these lessons can help you be more successful, that would make me so happy. I love entrepreneurship, and hope that our lessons can help more companies and entrepreneurs to be successful and change the world in a positive way.
I am so grateful to all the people who helped me make the Idealab “experiment” work for these 25 years.
Sincerely,
Chairman and Founder,
Idealab
BE SUCCESS SENSITIVE
Don't be dilution sensitive.
This was a lesson that took me a very long time to learn but I really learned that the outcome of your company is so digital. You can build a great, big company or you can fail. There of course is in between’s. But it's so valuable to find partners, investors, employees, everybody that is vested in your success. I find the best way to do that is to give everybody high equity participation.
I learned to not try and overthink fundraising games. It's just not worth it.
I learned that as the founder and CEO your goal is to set the strategy. Do the great hiring. Get the money in the bank and keep the money in the bank.
And definitely, when you're choosing investors and partners, it is much more important to choose people who really agree with your mission, really buy into your mission, and really will be there for you in the long-term. Even if that's at a slightly lower valuation.
And again, it's very painful to accept when you're actually in that valuation negotiation. But I have found from now doing so many different companies. The cases where I chose the partner who was more missions aligned, over the higher valuation, it led to a greater chance of success.
So, I really would say to be a success sensitive, not dilution sensitive.
Bill Gross discusses his entrepreneurial journey to solve climate change
SALT Voices: Bill Gross | Founder & Chairman, Idealab
Ground-breaking solar technologies and why clean technology is a trillion dollar opportunity
Bill's talk on the single biggest reason why startups succeed
Bill speaks about regulation designed to foster technology-driven growth
An informative and inspiring talk on innovation and starting companies
I started Idealab with a dream to make something like a modern version of Thomas Edison’s Lab where we could test ideas under one roof and then spin them off into separate companies. These companies would have their own management teams and their own equity pools, while at the same time benefitting from shared experiences and resources.
With lots of help from so many great people, my dream became a reality. We have come up with more than 5,000 ideas, started more than 150 companies, and had more than 50 successful IPO’s and acquisitions. We are most proud that we created more than 10,000 jobs and thousands of new entrepreneurs.
We learned lots of lessons - some great and some painful - and it’s my honor to share them with you here. If even one tiny bit of one of these lessons can help you be more successful, that would make me so happy. I love entrepreneurship, and hope that our lessons can help more companies and entrepreneurs to be successful and change the world in a positive way.
I am so grateful to all the people who helped me make the Idealab “experiment” work for these 25 years.
Sincerely,
Chairman and Founder,
Idealab
