Shah from Index Ventures added that expectation management is a principle that is not discussed enough. “I’ve always said to folks we get to know that we should be one of your sensors, not the sensor,” Frangione says. He refers to it as a “network of sensors” - a collection of relationships that includes startups and their partners and investors. Still, Greylock’s Frangione says enterprise executives should look to build a larger ecosystem of contacts in Silicon Valley, as opposed to visiting startups one by one. “From our portfolio companies’ standpoint, they think this is one of the most value-added things we do for them.” On the flipside, the startups gain valuable experience in communicating their business value to potential buyers or partners. Afterward, Lightspeed asks each IT executive to rank the relevance of the meetings and inquire if they have budget for a particular technology and whether or not they want to schedule additional meetings. Here’s how it works: Lightspeed offers to enterprise IT leaders a menu of companies they can meet, and then management teams from those companies come in, make 20-minute pitches and answer questions. Consider it “speed dating” for IT.īoth sides gain valuable intelligence. “We were surprised at how successful it was, from both sides.” “We leveraged to get them to come in and meet some of our newer companies,” Eggers says. “Sometimes it’s hard to wave your magic wand and have that go away,” he says. These collaborations can go a long way in helping large organizations find new ways to tackle technical debt, says Tom Frangione, a former entrepreneur and now COO of Greylock Partners. Visiting Silicon Valley VCs and their portfolio companies can also give them a window into what’s next on the horizon, even if those technologies might not yet be enterprise-ready. On an operational level, established organizations learn about faster, more iterative software releases by exploring how younger companies have implemented agile and DevOps. In an age of digital dominance and the need for speed, many CIOs would attest that they can learn much from startups. “The CIOs we respect and enjoy think in terms of business value.” Finding business value “We think in terms of business value,” Shah says. He holds a BA in Economics and Business from the University of California, Los Angeles, and an MBA from Stanford University Graduate School of Business.But as Shah and others noted, startups and their potential enterprise customers are better served by focusing on the business value they can create together by centering on specific strategic priorities. Barry previously served as the Chair of the National Venture Capital Association (NVCA) Board of Directors. Together with his wife, Meredith, they support programs that provide mentoring and educational access, conservation of land and creatures, sustainability, and pragmatic, economically viable solutions to urgent but difficult problems.īarry serves on the boards of Venture Forward, the Industry Advisory Boards of Greenspring Associates, Giant Ventures, and is an Advisory Member of The Nature Conservancy’s Investment Committee. He also led the creation of a scout program where the firm provides funding and support for a cohort of investors from underrepresented groups. In the last few years, he has helped transform Lightspeed into one of the most diverse venture capital firms in Silicon Valley. Barry’s commitment to Diversity, Equity, Inclusion, and Justice (DEIJ) is exemplary on a business and philanthropic level.
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