Venture Capitalists, Millennials and Parents


Venture Capitalists: Yesterday, as I go to one of the most prestigious venture capital events, where active venture capitalists and angel investors are still doing real deals, I had a great conversation with a lady, who was an accountant. She provides services to the VCs. The event itself was in a law firm. Everything within the venture capital circuit, should be be in light of law. There is too much money involved. It's very easy to get sued, because the other side knows that investors are at least millionaires. At the event, most people's worth was anywhere from $5 - 100 million. There are over 1000 investors in the network. Millennials: The term millennials started from Bay Area, California, where initially the entrepreneurs went around, pitching their companies to the investors. Many of these startups, including mine, within the social networking realm, makes people famous. The social persona is the key, but also visibility, backed by followers, page views and validations. It turned out, due to circumstances, many of the next generation stopped going to school at the same time, calling themselves millennials, hanging out on Facebook and Twitter all day, building up popularity, without a paycheck. These same people are the ones that are very negative towards society. Parents: The lady, that I spoke to at the venture capitalists event, had a daughter. We discussed the millennial effect. What is causing the next generation to be this way? This is an area I would love to know more about. She mentioned that the daughter has no schooling, she works at Safeway, gets a $.10 raise and gets excited. The lady took her daughter around town, with the money she makes, what kind of house she would be able to support? What kind of life? What kind of spouse? It turns out most of the millennials cost is take care by the parents, however this is perhaps hatred or jealousy at the same time. It is unfortunate. Have the millennials just given up already? This is one of the major issues in society today that needs to be solved. College is necessary, if you want to learn big things. There is no substitute. The path is already carved, and it needs execution. Perhaps what the millennials really need is love.