a conversation about money

The second chapter of my "Next Tech Big Thing" journey proceeded with a highly entertaining and rather enlightening session with Jorge Mata, former management consultant and MBA graduate that degenerated to serial entrepreneur with a very big ego.

Jorge's conversation started off exactly with this word: ego. Entrepreneurs, Jorge claimed, are first and foremost looking to fulfill their egos. Think about it: you are sitting around somewhere fantasizing about some product or service and imagining how this thing will once change the world and/or make you filthy rich. I mean, how big of an ego must you have to dare think you can do that?

And with this start I could relate to Jorge instantly and was eager for more!

I will spare you in this post a long list of quotes and minutes of minutes type bullet point (you can check those up in the this twitter account) but instead I will focus on the two key aspects that I took from Jorge's presentation and that it is so critical for my TV ME, my "Next Tech Big Thing".

#1
"A tech start up is not about technology, it is about the process". Jorge means, forget the techy stuff, what pain are you solving? Then choose the technology. THIS IS GREAT!!, because, as I mentioned in my previous post, I do not own any technology nor own any of the tech skills required to fulfill my vision. But this is all secondary because I have The Pain!

I mean, did you have a look at the twitter account link above? With the pseudo web cast of what happened in the session? If not, go now and ask yourself: did you get anything? Did you find it engaging? Who wants to follow text tweets in the video era??!!!!

#2
"Founder's money is not a good idea because the founder's role is to fulfill the vision; the VC role is to diversify the business. If the founder puts too much money in the venture he will turn it into a pizza delivery service if he has to". THIS IS EVEN GREATER, because, as you might suspect from a soon to be MBA graduate, I am pretty much broke.

So I don't have the TECHNOLOGY and I don't have the MONEY but I do have the PAIN and one thing I can start right now is to leverage some of the existing technology to explore different ways to solve this pain.

So stay tuned to this blog to watch the Next Tech Big Thing unfold right in front of your eyes!...