Indian - Businessman | -
When my generation grew up, our only sources of knowledge were books, teachers, parents and friends. The encyclopedia was an item of luxury. We faced big limits in what we could learn, where we could be and who we could reach.
Vivek Wadhwa
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Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
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My message to students is that if you want to become an entrepreneur and save the world, definitely don't skip college. But go to a school that you can afford. You'll be freed from the chains of debt and succeed on your own ambition and merit.
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After my health suffered due to the stress of running my second company, I had to switch careers. But I still didn't want to go back to the corporate world. So I became an academic.
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Ask any venture capitalist, and they will tell you that they consider the experience and completeness of the founding team to be a more important factor in their investment decision than the technology that is being built.
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During the dot-com days, one could take just about any company public and reap fortunes. All you had to do was to make sky-high projections for growth, say you were in the Internet space, and go along with unscrupulous investment bankers and their analysts.
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The fastest way to get kicked out of a venture capitalist's office is to say that you want to build a business that grows steadily, focuses on employees, and creates wealth over the long term. Entrepreneurs with such ambitions are considered pariahs.
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The IPO is no exit for the entrepreneur; it's the start of purgatory.
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The goal should be to build a sustainable lifestyle business that does good for employees and customers - and that steadily builds wealth.
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Most successful entrepreneurs share their knowledge as a way of giving back. They do not demand compensation. Those who do are usually trying to take advantage of you.
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What the tech industry often forgets is that with age comes wisdom. Older workers are usually better at following direction, mentoring, and leading.
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Despite what some investors say, older age is an advantage in the startup world. You know more about industries and markets, and have ideas for products that the world actually needs and a better ability to motivate and manage than a kid out of school does.
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