Jose Ferreira Quotes
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Venture capital today is clustered in just a few locations - Silicon Valley, New York, Boston, and D.C. It's far from efficiently distributed and accessible.
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You need more than just a great idea. Your product or service must add an enormous amount of value to some industry. If the idea isn't completely new, it has to be better, cheaper, or more efficient than what we already have.
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The factory model of education is a gargantuan bureaucracy. Some kids are good fits - I wasn't. The system gives you bad grades and tells you you're stupid. You don't think, 'If this kid's not a good fit, it could be the system's fault.'
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If the penalty for hiring illegals is just a fine, it becomes a business decision. But if the penalty is jail time, illegal immigration will come to a screeching halt.
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Google, Facebook, and other consumer web companies violate our privacy. But that's only because they have an ad-based business model. They can only make money by selling your data - and degrading the product experience with ads.
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We get more data about people than any other data company gets about people, about anything - and it's not even close. We're looking at what you know, what you don't know, how you learn best. The big difference between us and other big data companies is that we're not ever marketing your data to a third party for any reason.
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Stop pretending there's anything wrong with businesspeople hiring diligent laborers who will work for less. Let employers sponsor any worker and argue for why that worker should be given citizenship. Such a vetting mechanism would naturally promote the best and hardest-working.
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Big data in education has huge potential to improve learning materials.
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If I had to give one piece of advice to a budding entrepreneur, I would say: 'Aim big.'
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Anyone who sincerely wanted to use policy to reduce illegal immigration should start by crafting legislation based on changing actual behavior.
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Venture capitalists certainly create value for themselves, but they also singularly create value for the rest of the world.
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We know everything about what you know and how you learn best because we get so much data. And education is the highest-stakes media product in your life. It's infinitely more important than your Facebook friends' status updates or your Google search results because it's your future.
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The best programmers and internet entrepreneurs are in the Bay Area. Don't kid yourself about that, not even for a second.
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Data adds concrete information to a teacher's observations and intuition, but it will never replace experience, personal relationships, and cultural understanding.
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It's not enough to have a value-adding product in a big market. You also need the right conditions. Will you be able to scale revenues within a 5-10 year time frame? Is the timing right? YouTube wouldn't have worked pre-broadband.
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Jeff Bezos was one of those best and brightest who came to N.Y. to work in finance. He didn't need to know anything about retail bookselling to start Amazon.
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I spent most of my career in education and technology. I worked at Kaplan, and I was one of the first people trying to bring innovation into for-profit education.
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Google's real threat to China is not that it will leave the country. It's that it will embarrass China and damage its national reputation as a place to do business.
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If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing.
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The San Francisco Bay Area has more VC firms and dollars invested than all East Coast cities combined.
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Education has always produced an incredible amount of data; that's always been obvious to me. But technology had to catch up.
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No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.
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Venture capitalists buy minority positions in young companies they think will grow quickly; buy-out investors buy most or all of companies they think can be turned around by fixing a few basic things.
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I started Knewton to do my bit to fix the world's education system.