The class got a chance to hear Gary Swart, Maryland alum and venture capitalist, speak about his career in Silicon Valley. Swart, a graduate of the Maryland business school with a degree in Business Administration, has been a Silicon Valley insider for nearly two decades, and has seen a variety of trends come and go in his time. He largely spoke about his experiences as a venture capitalist, and how great businesses are built in the Valley. He was an engaging speaker that had the classes full and utmost attention.
Swart talked extensively about his career prior to becoming a VC, when he worked for IBM and then, ultimately, as the CEO of oDesk. At IBM, Swart had the opportunity to form fantastic connections, connections which ultimately led him to the job as CEO of oDesk. While Swart commanded oDesk for nearly 8 years, the end of his tenure brought about internal feelings that something could improve. Swart described this feeling as one that was negatively-affected due to having a work-heavy “work-life balance”. Swart stressed the importance of enjoying both in life, but not getting too sidetracked or bogged down by either. Feeling that his insider expertise could be better suited in the venture capitalism industry, Swart decided to become one.
In a further confirmation of what Jeff Markowitz touched on during our trip to his VC company, Swart gave a more in-depth look into the times when a VC decides not to invest. While Swart has had innumerable success in his career, a career which has gotten him north of 100,000 followers on LinkedIn and more than 30 speaking gigs at universities across the country, I really admired his ability to speak bluntly about the times he missed the mark in his career. One of Swart’s friends at IBM, during a stable and comfortable period in Swart’s life, asked Gary to join on as the third member of a start-up. Swart said no, citing his comfortable work-life balance. Well, that company grew to become Netflix, and Swart’s “no” is likely a hundreds-of-millions of dollars decision. Swart did not seem too rattled by it though, which was interesting, for he said it would have taken him ten years to have recouped the money he was making at that time. Swart’s honesty extended into his talks about not investing in Airbnb too. Swart's honesty about his failures was refreshing because it taught the class that in life, you have to bounce back. It only takes one hit to make a venture capitalists career, and Swart taught us that if you get too down on yourself, you'll let great opportunities pass you by.
Swart strongly championed the entrepreneurial spirit, citing that ambition as one of the top reasons a venture capitalist invests. If they see the passion, the knowledge, and the product, they will invest in not the company, but you. He encouraged us to be creative and to find an idea that can fuel us. He spoke of his fraternity brothers who created an entire business out of making cardboard cutouts of famous icons and transporting them state-wide for people to take pictures with. This clever idea got so big they were able to drop out of college to fuel it. Swart encouraged the class to find their idea and run with it. With his experience and knowledge of the industry, Swart is an example of how passion can fuel success.
Post-visit Actions
I followed Gary Swart on LinkedIn and took some time to read the articles he posts. He has a significant following on LinkedIn and even has his own Wikipedia page. It was hard to tell from his down-to-earth attitude during our meeting, but Swart was a bigtime player in the Valley. He has met the biggest names in the business and his time at oDesk is largely recognized as a successful tenure for the online work company. His articles still appear on my feed, and when they do, I read them, for Swart is an insider to the most innovative place in the world. With a connection, I would be foolish not to follow him and hear what he has to say in terms of advice and how to pursue passions.
Swart talked extensively about his career prior to becoming a VC, when he worked for IBM and then, ultimately, as the CEO of oDesk. At IBM, Swart had the opportunity to form fantastic connections, connections which ultimately led him to the job as CEO of oDesk. While Swart commanded oDesk for nearly 8 years, the end of his tenure brought about internal feelings that something could improve. Swart described this feeling as one that was negatively-affected due to having a work-heavy “work-life balance”. Swart stressed the importance of enjoying both in life, but not getting too sidetracked or bogged down by either. Feeling that his insider expertise could be better suited in the venture capitalism industry, Swart decided to become one.
In a further confirmation of what Jeff Markowitz touched on during our trip to his VC company, Swart gave a more in-depth look into the times when a VC decides not to invest. While Swart has had innumerable success in his career, a career which has gotten him north of 100,000 followers on LinkedIn and more than 30 speaking gigs at universities across the country, I really admired his ability to speak bluntly about the times he missed the mark in his career. One of Swart’s friends at IBM, during a stable and comfortable period in Swart’s life, asked Gary to join on as the third member of a start-up. Swart said no, citing his comfortable work-life balance. Well, that company grew to become Netflix, and Swart’s “no” is likely a hundreds-of-millions of dollars decision. Swart did not seem too rattled by it though, which was interesting, for he said it would have taken him ten years to have recouped the money he was making at that time. Swart’s honesty extended into his talks about not investing in Airbnb too. Swart's honesty about his failures was refreshing because it taught the class that in life, you have to bounce back. It only takes one hit to make a venture capitalists career, and Swart taught us that if you get too down on yourself, you'll let great opportunities pass you by.
Swart strongly championed the entrepreneurial spirit, citing that ambition as one of the top reasons a venture capitalist invests. If they see the passion, the knowledge, and the product, they will invest in not the company, but you. He encouraged us to be creative and to find an idea that can fuel us. He spoke of his fraternity brothers who created an entire business out of making cardboard cutouts of famous icons and transporting them state-wide for people to take pictures with. This clever idea got so big they were able to drop out of college to fuel it. Swart encouraged the class to find their idea and run with it. With his experience and knowledge of the industry, Swart is an example of how passion can fuel success.
Post-visit Actions
I followed Gary Swart on LinkedIn and took some time to read the articles he posts. He has a significant following on LinkedIn and even has his own Wikipedia page. It was hard to tell from his down-to-earth attitude during our meeting, but Swart was a bigtime player in the Valley. He has met the biggest names in the business and his time at oDesk is largely recognized as a successful tenure for the online work company. His articles still appear on my feed, and when they do, I read them, for Swart is an insider to the most innovative place in the world. With a connection, I would be foolish not to follow him and hear what he has to say in terms of advice and how to pursue passions.