I invited a local venture capitalist to speak with my entrepreneurship class at Duke. Once he’d finished sharing his story and discussing the industry, I opened the floor to questions. Most of the questions were typical, young-entrepreneur questions followed by typical, bland VC answers.
“What kinds of things are you looking for in the startups you invest in?” one student asked.
“Our top priority is finding great teams,” the VC predictably answered.
“How much traction does a company need to get investment?” asked another student.
“We’re mostly focused on the Series A stage and later,” the VC replied, “but we’ll invest in an idea on the back of a napkin if it’s the right founder and right team.” I rolled my eyes. Yeah. Sure. Whatever. The only idea on the back of a napkin he’ll invest in is one that comes from Jeff Bezos.
“Are there any sectors you’re excited about?” a third student asked.
“We’re looking very closely at AI and how it’s impacting every industry,“ the VC said.