This article is written by Nardine B. M’barek, a Contributor Author at Startup Istanbul.
Tim Draper is the founding partner of Draper Associates and DFJ. He has made a number of investments including Skype, Hotmail, Tesla, Baidu, Indiegogo and AngelList among many others. He is also the founder of Draper University, in which real experts from different fields in order to teach the students rather than teachers. He is the creator of viral marketing, a marketing method for spreading a software application from customer to customer. Tim was a guest during our Startup Istanbul 2017, he delivered a speech in which he talked about why an investor would want to invest in something.
Mr. Draper started talking about why would someone invest when they have got enough money to live a good and wealthy life. The main reason according to him is being able to really change the world, and actually, help take innovation and creation to another level. Being an investor does not only mean giving your money away and receiving profit. It is basically about giving money in order to help develop the world through financing products and ideas that could make human beings move a little forward.
Failure should not stop an investor. In the matter of fact, it should implement in that investor the will to make something successful out of his investment the next time he gives his money to other people, who promise to turn it into something useful and efficient. As Mr. Draper mentioned, one of the main things that they teach students at Draper University is to fail and fail again, until they succeed in the best way possible. As investors, that is how you should look at it.
Investors are global, they need to look for something that is big enough to surpass the geographical borders. Mr. Draper gave the finance industry as an example of those ones that you pay high prices for their services but still get bad services. His solution for that is to invest in
The perfect technology that would go after these industries is, according to Mr. Draper, bitcoin and blockchain. Why is it a solution to these industries? It is simply because it eliminates the need of all that bureaucracy that is still used within those industries. We can just use a blockchain platform in order to do all that work those industries do, It is a permanent record that is incorruptible, fair and honest.
It is a technology that can do wonders to humanity. Not to forget that it is an emerging market right now and that it could help many people really achieve something important. It is also a “globally transformative technology that is going to open up all sorts of new possibilities for entrepreneurship and it’s going to make our world awesome” as Mr. Draper declared.
According to Mr. Draper, these kinds of technology are the ones investors need to invest in because it has the possibility to change the world, and since that is mainly why an Angel or investor, then it is a perfect opportunity to both make profit, and make the change needed for the world.