Silicon Valley’s Pay-It-Forward Culture
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for the next few years, Noyce met with him and coached him as he founded his first company and went through the highs and lows of a startup that caught fire.
The entrepreneur was Steve Jobs. “Bob Noyce took me under his wing, I was young, in my twenties. He was in his early fifties. He tried to give me the lay of the land, give me a perspective that I could only partially understand,” Jobs said, “You can’t really understand what is going on now unless you understand what came before.”
What Are You Waiting For?
Last week in Helsinki Finland at a dinner with a roomful of large company CEO’s, one of them asked, ”What can we do to help build an ecosystem that will foster entrepreneurship?” My guess is they were expecting me talk about investing in startups or corporate partnerships. Instead, I told the Noyce/Jobs story and noted that, as a group, they had a body of knowledge that entrepreneurs and business angels would pay anything to learn. The best investment they could make to help a startup culture in Finland would be to share what they know with the next generation. Even more, this culture could be created by a handful of CEO’s and board members who led by example. I suggested they ought to be the ones to do it.
We’ll see if they do.
Over the last half a century in Silicon Valley, the short life cycle of startups reinforced the idea that—the long term relationships that lasted was with a network of people—much larger than those in your current company. Today, in spite of the fact that the valley is crawling with IP lawyers, the tradition of helping and sharing continues. The restaurants and locations may have changed, moving from Rickey’s Garden Cafe, Chez Yvonne, Lion and Compass and Hsi-Nan to Bucks, Coupa Café and Café Borrone, but notion of competitors getting together and helping each other and experienced business execs offering contacts and advice has continued for the last 50 years.
It’s the “Pay-It-Forward” culture.
- Entrepreneurs in successful clusters build support networks outside of existing companies
- These networks can be around any area of interest (technology, ethnic groups, etc.)
- These were mutually beneficial – you learned and contributed to help others
- Over time experienced executives “pay-back” the help they got by mentoring others
- The Pay-It-Forward culture makes the ecosystem smarter