Venture Capitalists at Work: How VCs Identify and Build Billion-Dollar Successes

He said all the successful companies he has seen have this one following factor: they have a leader who gets the team excited by offering them focus and the clarity of what to do.

It certainly helps if you have all the right viral features built in, but it is particularly interesting when the product itself is not very good or is not very viral … and people are still talking about it.

Oddly enough, you would think that the CEO would be the superset of the creator of things. But rather, the CEO must have discipline and know when and how to say no. Otherwise, you just end up with a company that isn’t productive and can’t get the necessary things done.

I look for people who are not so motivated by the money, but are really driven to build a big company. The more years I am in this business, the more I look for that.

Successful entrepreneurs also have this ability to articulate a roadmap for the sort of things they want to build over time. We rarely do business with a company where there’s a six-month roadmap and then it’s all done.

Does a better go-to-market strategy win over better product? Morgan: Yes, the better go-to-market strategy wins over the better product.

technology is not kind to gatekeepers,

Besides the virality and viral channels, what else stands out to you in a great product? Lee: Engagement. Do I go back and use the product on a consistent basis? Is the experience such that I am getting value out of it consistently? It does not have to be every hour or every day, but is there something there that is new and insightful on at least a

I invest in stubborn entrepreneurs who chase huge opportunities