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Fintech Leaders
Alan Patricof – Tech & VC Legend. 90-Years-Old: Fit, Focused and Closing Deals
Nov 26, 2024
Alan Patricof, a legendary co-founder of multiple major VC firms, shares his incredible journey in venture capital. He reminisces about the vibrant NYC of the 1970s and the evolution of the tech landscape. At 90, he discusses his focus on investing in the needs of the elderly and reveals his secrets to staying fit and energized. With contagious optimism, he emphasizes the importance of reputation and personal relationships in business. Alan’s insights are as timeless as they are inspiring!
48:02
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Quick takeaways
- Alan Patricof highlighted the transformation of venture capital from small initial funds in the 1970s to today's billion-dollar valuations.
- He emphasized the innovative focus on investment opportunities catering to the elderly market, reflecting demographic shifts and challenging ageist attitudes.
Deep dives
The Early Days of Venture Capital
When venture capital was in its infancy, obtaining funding was a significant challenge. Early investors often found themselves in situations where they had to convince potential entrepreneurs of the value of their investment, almost akin to begging for opportunities. Unlike the current landscape, where venture capital deals can be plentiful, initial experiences involved dealing with a much smaller volume of projects and a lack of understanding about the venture business model. A noteworthy example discussed was the very first investment made in a company focused on scrap metal recycling, which eventually grew to become the largest secondary smelter refiner in the world.
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Discover
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