In many places there is a huge stigma to making mistakes, this shouldn’t be the case!

(Joichi Ito, TEDxDubai 10.10.09)

Notes from Ito’s talk:

Part 1:

Ito discusses the nature of venture of capital and investing. “Everyone says, buy low, sell high…” As a venture capitalist, what else do you need to do?

Focus on:

• The areas you understand.
• Providing lots of value to the entrepreneur.
• Taking risks. “You shouldn’t try to focus on minimizing loss. If you make a mistake, move on… The cost of failure has come way down”.
• Time—Start-ups should focus 90% of their time on the 10% they do well.
• Trying new things!

Part 2:

Ito discusses the history of the Internet, open standards and Creative Commons—standards and licenses that allow you and I to contribute ideas and content for the Web that can be mixed, remixed and shared.