Tim Draper runs survival exercises and pitch competitions to watch how students perform under stress. He tracks their growth from a 1-minute pitch to a 2-minute pitch after seven weeks, and scouts for founders with a "have-to-do" mission, a big market, transformative technology, and genuine gusto.
So as a student in the summer session, it's almost over, I've experienced a ton of incredible, incredible things. And you're actively involved with us, the students, throughout the program. And I just want to ask you what your favorite thing, what your favorite activity or thing to do with us is. What stands out to you?
That's a great question. I like— well, I love different parts of this, and some that I've laid the groundwork for and I didn't experience with you. I love games and simulations, so that's a big part of what I like that you do. I, of course, love survival training because I get to I get to learn more about you. I get to see you in very stressful situations. And I get some exercise, which is nice. And I think that that's some of the most exciting things. But my best day is tomorrow. My best day is What you guys have come up with over the course of this 7 weeks. I like to see— because I watch— I didn't actually get to watch every 1-minute presentation this time. I don't know why the computer didn't work, but I got most of them. I like looking at the 1-minute presentation before you go through our program, and then I like to look at the 2-minute presentation after you're done with the program, and it's night and day. So sometimes you'll be thinking, God, what am I learning here? You just look at those 2 things and you've— there are some amazing things that have gone on in people's heads. So that's my most satisfying thing. I also keep an eye out whether you're fundable today or you're fundable in 6 months or in 6 years. I want all of my students to to come back to me. I'm in the venture capital business. I'm looking for big opportunities. And I want people who have been through something like this. This is a great check for me. I know that after you've been through this, that if you've really gone through it and you've done everything that we've lined up for you, then you are capable of some extraordinary things. And you might have a good worldview. And you might have also a good understanding of people and how to manage a team and all of those kind of things that we fit into your program. And so it makes you— it gives you at least one of the checks that I need when I'm funding people. And I've funded quite a few students over the It's been great. It's mixed. The results are mixed, but we hope to have 1 or 2 really big winners down the road, and then all of a sudden, I think the floodgates are going to open.
Is there something you look for in the people that you fund, like a spark or a characteristic?
Well, they have to have been You're in. No, I look for people who have to do it. It's something they have to do. Sometimes that's clear right off the bat, and sometimes it takes me a while to realize that they were incredibly serious way back when, even though they didn't seem as serious as they are— they do now. And then the clearing price here is, is the market big enough? Is it a lazy marketplace where some new player can come in there and really shake it up? And is there some technology that they've either invented or are taking advantage of That is really potential— has the potential to transform that market. And so that's the clearing place. But then when you're pitching me or any venture capitalist, their gusto and enthusiasm is stuff you can't fake. Let that be a lesson to you, David.
Uh-oh.
And you can't fake it because it's something that just is going to come out of you when something really matters to you. And I think that I'm going to see it in you when I'm interviewing you. I mean, at least that if I was given one gift, that's it. That in general, I can, I can spot gusto and enthusiasm, the real stuff.
