Saturday, February 2, 2008

Vardi:if you don't fake an orgasm

Let me start by telling you what I don't look for. I don't look at business plans. After 38 years I've found that 100% of business plans say that their idea is very good. I think they are useless. I also don't like PowerPoint presentations. I don't think you can judge the validity of an idea. Maybe someone else is working on the exact same thing elsewhere. I found the more I liked the idea the bigger my losses were. Falling in love with an idea makes your vision blurry. I don't like demonstrations because the young guys showing me are so enthusiastic they think it is the greatest thing in the world—at least in their life, and if you don't fake an orgasm, they go away very disappointed.

Yossi Vardi is known as Israel's startup guru. For nearly 40 years he has helped to found and nurture over 60 companies in industries that include software, Internet, telecommunications, and energy. At 26, in 1969, he co-founded his first business, Tekem, one of the first software firms in Israel. Vardi was also the founding investor in Mirabilis, which created ICQ, the first Internet-wide instant messaging program. The company was launched in 1996 by his son, Arik, and three friends, and sold to AOL (TWX) in 1998 for about $400 million. The sale helped open the floodgates for numerous Israeli entrepreneurs(read more>>)

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