Vani Kola, Managing Director at Kalaari Capital, recounts her experience of the Mark Zuckerberg Townhall last week, and shares the key takeaways from the event
It was 2:30 AM on October 28, 2015, and I was on my way to the airport. This is not totally uncommon, although it is never comfortable. I have to be in various cities for board meetings a few times a month. But this day was different.
I was leaving Bangalore for Delhi to attend the Mark Zuckerberg Townhall at Dogra Hall in IIT Delhi. Why would I do this when I could have chosen the comfortable option of watching it being live streamed?
It’s the perpetual nightmare of a venture capitalist to go down in history as the one who didn’t see merit in the next big thing, not gauging the worth of an idea that could conquer the world and rewrite the ways of life.
I firmly believe that when great ideas flourish into global enterprises, they invariably take the personality of their founder(s). This trip was one of curiosity to experience the ‘personality’ of brand ‘Facebook’ up-close.
An innovative idea: Staying true to it
When Facebook first appeared on the horizon, how many of us would have thought that it would be a world-conquering idea? How many of us would have realised that it would form an integral part of our lives in the next 10 years? Today, the platform has spread over the world like a tumultuous cloud (no pun intended) and more than a billion users have actively latched on to it. India is the second fastest-growing market for Facebook with over 150 million users.
So, how did Facebook end up being so appealing to more than a billion people? To imagine that all those people would actively use a platform, share parts of their lives, and know more about their loved ones would have been a far-fetched business plan to fund. To see it as a platform that could be the best in contextual marketing would need us to re-imagine a world where we enjoy sharing many private details of our lives daily.
Zukerberg had a very strong belief and sense of conviction in this idea called Facebook. This conviction and self-belief often finds tough invigilators on the entrepreneurship road.
While I was thinking about this, Zuckerberg made a rock-star entry. To the IIT Delhi students, he was what Justin Bieber is to teenage girls the world over. The welcome was pulsating with energy and the excitement was palpable.
No one documented his earlier trip to India, to a temple, as advised by one of his mentors – Steve Jobs. The reception of this visit couldn’t be more different.
A flying start
Mark managed to match the cheer with a flying start. He said he was excited to be in India. He emphasised that his aspiration at Facebook is to connect the world and it is not possible to connect the world without connecting India.
He went on to talk about internet.org, Facebook Lite for basic Internet access, augmented reality, artificial intelligence and so on. He tackled some googlies from the crowd about handling Candy Crush requests and superpowers. In fact, the answer that superpowers could be imagined and built using technology was very impressive.
Teleporting to come together for an experience was his way of using the question to pitch an innovation Facebook is up to. He went on to explain teleporting by talking about simulating gravity and playing Ping-Pong with a friend in space.
While his Townhall gave a great insight into the person he is, I think there is a lot to learn from him for not only budding entrepreneurs but also people on the other side of the table, venture capitalists like me.
Five things that entrepreneurs can learn from Mark Zuckerberg
1. Staying true to the idea and living it
While his first visit to India was to reconnect with himself, he has led the way to a ‘connecting the world’ revolution. He was seen at ease with the college students, always seeming approachable, positive and willing to click pictures. He is practising the need to connect in his very fabric and that is surely rubbing off on the behemoth that is Facebook.
2. Being humble and approachable
He looked relaxed in his jeans and a grey shirt. He connected with the audience by convincing them that he was one among them not so long ago. He instilled in them the belief that all of them could become a leading global innovator.
Did he sow the seeds of focussing on a great idea to create a great enterprise in the audience’s mind? He definitely did.
3. Building a team and delegating responsibilities
He shared in his address that the probability of success of organisations with co-founders was higher. He emphasised the value that he puts on a team. Bringing on board some great leaders such as Sheryl Sandberg bears strong testimony to this fact. It is great teams that build great companies and Zuckerberg has proven that even young entrepreneurs can lead large companies by excelling in team building.
4. Constantly thinking what’s next
Be it internet.org, Facebook Lite, or teleporting, constantly thinking where the world will move will enable creation of a future and Mark has mastered this art.
5. Continual improvement
He talked about the many mistakes he has made. He said that no one is born with the knowledge of building teams and companies. While Facebook and Orkut were pretty much same in terms of objective, Facebook managed to survive and flourish because of its constant innovation.
Facebook managed to stay relevant and attractive to a user base that was seeing new innovations by the day. “Trial and error; learn and improve” was the mantra he proposed. Move fast and break things, as they say.
As a venture capitalist, the Townhall and the experience therein have helped me reinstate my belief that evaluation (of an idea/startup) is not a methodology. It is an answer based on one’s life and personal and professional experiences. I believe Zuckerberg would have ignited a lot of young minds that would come up with some zany ideas that we can’t yet imagine.
Every time I encounter one such idea from the other side of the table, this experience would remind me to listen to it and evaluate the zany idea without any bias — re-imagining the future through the young entrepreneur’s dreams.
What’s the future?
India with its population and its thriving startup ecosystem is a huge market for Facebook. Zuckerberg realises it just like all of us. I do imagine mass disruptive ideas from the Facebook stable of followers in the coming days.
Democratising the Internet means democratising knowledge and growth opportunities. This is a much-required step, especially in India, to realise equitable and sustainable growth. And Zuckerberg was pitching Facebook as the champion for this.
Coming back to my question, would I have invested if Mark had pitched Facebook to me in 2004? I don’t know. But I certainly hope the next Facebook inspired entrepreneur will find a receptive venture capitalist in me.
This article has been republished from LinkedIn.
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