The Importance of ‘Crazy Ideas’

Steve Jurvetson of Draper Fisher Jurvetson on the importance of ‘Crazy Ideas’:

“Jurvetson said DFJ doesn’t strive for consensus among its partners when investing in deals. Instead, the firm allows a passionate minority to outweigh a negative majority. “A couple of people that really want to do a deal can out-vote five that don’t,” Jurvetson said. “The reason is because no good idea that changes the world is universally regarded as one at its outset.”

As an example of a company that DFJ backed despite disagreement among partners, Jurvetson mentions Skype, which he negotiated and seeded in 2002 before the company revolutionized telephony and sold to eBay Inc. for more than $4 billion. Another example is Hotmail, the free email service later bought by Microsoft Corp. that Jurvetson tells me was rejected by 20 other venture firms before DFJ seeded it in 1996.”

About Arie Goldshlager

Customer Insight, Customer Strategy, and Innovation Consultant
This entry was posted in Innovation. Bookmark the permalink.

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