[youtube http://www.youtube.com/watch?v=yu-41YWwdY8&w;=560&h;=315]
Over 100 people showed up on July 18th at ThoughtWorks on what was undoubtedly the hottest night of the year. There was a lot of excitement surrounding the arrival of Esther Dyson. Murmurs rippled through the audience and questions abounded. Esther Dyson of EDventure Holdings is a former journalist and Wall Street technology analyst who is a leading angel investor, entrepreneur, philanthropist, and commentator focused on breakthrough innovation in healthcare, government transparency, digital technology, biotechnology, and space. Startup Grind NYC’s Neil Anderson shared a fireside chat with Esther and discussed her background, her take on the current startup environment and what she looks for when making an investment.
Fostering the Scaling of Entrepreneurship
A recurring topic during the night was how to scale a startup into a thriving business. As an investor and founder, Esther provided insight into what it takes to turn an idea into a successful company. Neil broached the question of the notion of opportunity costs because of the disparity between large corporations and start-ups and how this issue can be addressed. Esther responded that, “Little companies need scale, access to the big companies, training, and access to big markets.” The glut of startups and lack of achievable scale has led to redundancy in some sectors.
Innovation and Redundancy
Born in Switzerland before moving to the United States and subsequently living in Russia, Esther is one of the most globally aware investors known. When asked about her investment philosophy and worldview, Esther responded, “I see more redundancy than innovation. People are risk adverse and that leads to too much redundancy and failure.” The audience was very engaged and the conversation led to a discussion on the proliferation of video sharing and fashion apps instead of the “big issues” of infrastructure, education, and healthcare. This in turn developed into the question of whether these problems should be solved domestically or abroad first and the best way to secure funding.
After an hour of talking with Neil and the audience, Esther stuck around for a candid question and answer session. The interview with Esther is a must-see.
Huge thanks to ThoughtWorks for another job well done and all the attendees!
Written by: Khari Parson, Community Manager