Came across this interview with Sean Parker. He is talking about Silicon Valley. Many interesting points in it. Here are a couple of excerpts.
Q: You talk a lot about the importance of the right team.
Parker: A lot of the best talent in a particular domain is not necessarily the correct talent to be starting a company. So there’s a lot of fantastic engineers who really shouldn’t be product people, really shouldn’t be founders, and there’s a lot of founder product people who really shouldn’t be engineers. Understanding your place in the ecosystem and the value you’re able to bring gets lost and distorted when there’s so much money sloshing around, and everyone you know is pushing you to go and start a company.
There’s a sense of entitlement that I’ve never seen before in Silicon Valley among people who work for a big company for a while and make a lot of money. They think the next step for them is to start a company. That’s often exactly the wrong thing for them to do. They will likely squander their own fortune or waste someone else’s money.
Q: Sounds like funding can end up being a disservice.
Parker: Any great engineer these days, who has a good pedigree, can go and get a $250,000 or $500,000 check and start a business and they’re probably not qualified to do so.
They think they’re going to build a prototype and that’s enough. They need to be focused on building a team, and it doesn’t have to be a team of seasoned execs. It needs to be team of people who can perform all the functions necessary to run a business. I learned that the hard way–by starting companies that didn’t necessarily have a complete team.
Click over and read the whole thing.