Welcome to NYC, the 'Entrepreneurial Petri Dish'

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July 11 (Bloomberg) -- Gotham Ventures Co-Founder Danny Schultz discusses the New York tech and media scene with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)

How is this richer -- how is this a richer, deeper i now make changing the way you invest money?

I appreciate being here today to talk about the new york scene and what we see as so exciting here.

First of all, 10 years ago, there is no such thing as a second or third time entrepreneur.

We have a number of entrepreneurs who are second and third entrepreneurs -- second and third time entrepreneurs, but that's a metaphor for first- time entrepreneurs and have been at successful companies having you run their own start up.

What they learned at the hands of more seasoned entrepreneurs or inside tech corporate.

And they go off on their own with some great experience and the ability to learn and see had to pivot if there's a problem.

When to put the foot on the gas pedal.

Utility is a learned trait.

Indeed.

I happen to favor lots of sports analogies, but a running back has to figure out another way through.

A lot of start up company that the seed stage start with one kind of product configured a certain way and in getting feedback from the marketplace, they learn we better tweak it and listen to our customers and adjust and then find a clear path to growth.

One of the most exciting fields as you think about where to put money, you are a seed investor, which areas are you most anti-spy?

One of the -- which areas are you most enticed by.

One of the areas is new york entrepreneurial talent.

Online retail, digital media, fashion tech, financial technology, security, enterprise software.

What we are seeing is a lot of talented people moving from the financial service industry into ad tech startups.

You can see people taking their engineering and software talent and moving across into other sectors.

Those are the areas we like and the one that seems to tie them together is that they are all learning how to leverage this vast amount of data they are collecting.

You don't like it -- we like smart data.

You have to know what to do with it.

You have to know how to make it valuable for your customer and that is the key.

Ad tech, financial tech, digital media, enterprise software -- is there enough money to support all these new companies and categories?

Great question.

The answer is there isn't . the reason there isn't is we have a couple of different constituent in the marketplace today, the way we see the marketplace is that we've had a tremendous amount of the -- the medicine a lot of support from angels and super angels.

That interest and appetite tends to wax and wane, unless you have people who are really experienced in the industry.

On the larger venture side, many of the larger venture firms would really rather move to later stage, lower risk, still risky endeavors.

We find right now that there is a gap in the seed stage for entrepreneurs that want to raise a million dollars.

It easier to raise from a few institutions $250,000 then two dozen angels who are going to write $15,000 checks.

Very often, it's a combination of the two.

Thank you for being with us.

This text has been automatically generated. It may not be 100% accurate.

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