October 19, 2012 3 Comments
Over the course the late morning & early afternoon I spent back-to-back hours with Fred Wilson and Alan Patricof. Fred, of course, is almost without question the most successful and impactful venture investor on the east coast (and perhaps the country) over the course of the past 10 years. And Alan is no less than the father of the venture business in New York City and a major player in the national venture scene almost since its beginning, having founded two great and enduring firms.
Alan has been a valued mentor of mine for several years now. Fred I don’t know very well, but I sure enjoyed the opportunity to get to know him better.
It was pure coincidence that these meetings ended up scheduled back-to-back; and taken separately, I wouldn’t have thought much about the significance of the conversations. But as a pair, the 2.5 hour chunk of my day they created left me pondering the importance of what each of these guys was doing in those discussions.
Each meeting was, pure and simple, a pay it forward type conversation where Alan and Fred were offering me advice and perspective on building a great venture firm.
Neither of these guys owe me anything, and I have no delusions about my standing in the world – certainly a meeting with Brad Svrluga is not something many people, let along these guys, take out of some sense of obligation.
But both of these guys just get it. They understand how the game is played. They remember the people that gave them formative advice at critical points in their careers. And now they’re taking their turn and paying it forward.
It’s a remarkable gift to me, and a great example that we should all follow. The lesson of these meetings extends into any profession, but I think it is critically important in the entrepreneurial ecosystem.
This ecosystem is so important, it represents such critical potential for our economy, it is so tightly knit and interdependent, and it is comprised of such fragile individual pieces. Our leaders, and everyone, paying it forward and supporting the ecosystem is an essential component of its continued growth and development.
It makes a difference, and I believe is a responsibility of citizens of the tech community at whatever level in their careers. It is no less important for a talented junior software developer to mentor the newest young hacker as they enter the community than it is for the Deans of the VC community to look out for the leader of a smaller, younger firm.
And it’s not purely altruistic. Doing this work will genuinely impact the ‘giver,’ exposing him to new ideas, fresh perspectives, and a heightened awareness of what’s going on throughout the ecosystem. Not to mention that it helps to ensure that the next generation of leaders is on your side.
Too many entrepreneurs live in a ramen and pizza-fueled cave, focusing exclusively on the things that directly and immediately advance the cause of their business. But without exception, all of the best entrepreneurs I’ve worked with have, like Fred and Alan, taken the long view in staying connected to their communities and being generous in contributing to a rising cohort of young leaders.
We do a pretty good job of this in the tech community, but we can do so much better. Everyone has a role in contributing to raising the tide that will float all our boats. What are you doing?
P.S. Speaking of paying it forward, you should definitely have a work at the exciting and massively important work that Fred is doing with AFSE, the Academy For Software Engineering. Was so great to learn more about it. Thanks, Fred!