Online Dating is the Future of Business

© 2014 David Teten. More at ffvc.com and teten.com http://www.flickr.com/photos/cali4beach/5447189098/in/photostream/

David Teten Partner, ff Venture Capital ffvc.com // @ffvc teten.com // @dteten New York, NY

Online Dating is the Future of Your Business

BTC Israel Conference February 6 2014

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and teten.com

ff Venture Capital (ffvc.com)

•  Early-stage technology venture capital fund •  Founded 1999, with over 200 investments in over 70 companies •  21 employees in Manhattan and Hoboken •  First investments typically $100-$500K at valuations of <$5m pre-money •  Follow on in later rounds for best-performing startups •  Prominent investments include:

Cornerstone OnDemand (IPO); Quigo Technologies (sold to AOL for reported $340m); Indiegogo; Klout; 500px; HowAboutWe

•  4 Israeli investments: CamSpace, GlucoVista, Omek (acquired by Intel), Quigo (acquired by AOL)

David Teten (teten.com) • Partner, ff Venture Capital, early-stage technology venture capital fund • Founder and Chairman, Harvard Business School Angels of New York . Co-

founded Venture Capital Access Program, introducing women and minority entrepreneurs to Harvard-affiliated angels

• Lead author of first-ever research study on best practices in private equity/venture capital deal origination

• Lead author of first-ever research study on best practices of venture capitalists in increasing portfolio company value through operational support

• Lead author, The Virtual Handshake: Opening Doors and Closing Deals Online

• Harvard MBA 1998, Yale BA, both with honors. • @dteten

© 2014 David Teten. More at ffvc.com and teten.com

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

= D * ∑ (Chn*Con *Rn* Sn*In)

Network Valuation Formula

N

n=1 David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Average Strength = Minutes Available / Person Number = # People therefore…

Balance of Strength and Numbers

Average Strength * Number = Total Minutes Available

vs.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Character before social media Social media…

How to grow Character in social media

Read the bible, or Stephen Covey.

expedites diligencing, particularly through reference-checking.

Know your every action is being analyzed.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Character before social media Social media…

How to grow Character in social media

Read Stephen Covey. expedites diligencing, particularly through reference-checking.

Know your every action is being analyzed.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Character before social media Social media…

How to grow Character in social media

Read Stephen Covey. expedites diligencing, particularly through reference-checking.

Know your every action is being analyzed.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Go to pedigree school, work for pedigree company.

creates and allows publicizing of recognizable, tightly defined credentials.

Teach yourself and get credentials online.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Go to pedigree school, work for pedigree company.

creates and allows publicizing of recognizable, tightly defined credentials.

Teach yourself and get credentials online.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Go to pedigree school, work for pedigree company.

creates and allows publicizing of recognizable, tightly defined credentials.

Teach yourself and get credentials online.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Publish a book. expedites evaluation of work product.

Put your work product, or evidence of work product quality, online.

http://www.flickr.com/photos/keithspringer/5912990822/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Publish a book. expedites evaluation of work product.

Put your work product, or evidence of work product quality, online.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Publish a book. expedites evaluation of work product.

Put your work product, or evidence of work product quality, online.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.

http://www.flickr.com/photos/english106/4357228667/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Competence before social media Social media...

How to grow Competence in social media

Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Go to conferences. Ask friends for introductions.

allows financial capital to substitute for social capital.

Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.

http://www.flickr.com/photos/23439761@N03/3258313816/sizes/l/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Go to conferences. Ask friends for introductions.

allows financial capital to substitute for social capital.

Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Go to conferences. Ask friends for introductions.

allows financial capital to substitute for social capital.

Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Look for the most attractive person in the crowd.

collects and disseminates more data, which allows wiser decision-making.

Use ranking systems to identify most pertinent people.

http://500px.com/photo/55794308

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Look for the most attractive person in the crowd.

collects and disseminates more data, which allows wiser decision-making.

Use ranking systems to identify most pertinent people.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Look for the most attractive person in the crowd.

collects and disseminates more data, which allows wiser decision-making.

Use ranking systems to identify most pertinent people.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Wear a T-shirt with a company logo.

allows you to be findable and therefore connect with more Relevant people.

Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Wear a T-shirt with a company logo.

allows you to be findable and therefore connect with more Relevant people.

Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Wear a T-shirt with a company logo.

allows you to be findable and therefore connect with more Relevant people.

Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Read the newspapers. saves you from wasting time on people who don't want to buy what you're selling.

Identify targets who are emitting sales signals.

http://www.flickr.com/photos/zoetnet/4851547572/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Read the newspapers. saves you from wasting time on people who don't want to buy what you're selling.

Identify targets who are emitting sales signals.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Relevance before social media Social media...

How to grow Relevance in social media

Read the newspapers. saves you from wasting time on people who don't want to buy what you're selling.

Identify targets who are emitting sales signals.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Strength before social media Social media...

How to grow Strength in social media

Lots of meals and phone calls. makes people value their online interactions, and the more costly the better.

Ongoing social-grooming, e.g., following back people who follow you on twitter.

http://www.flickr.com/photos/alisdair/17303737/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Strength before social media Social media...

How to grow Strength in social media

Lots of meals and phone calls. makes people value their online interactions, and the more costly the better.

Ongoing social-grooming, e.g., following back people who follow you on twitter.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Strength before social media Social media...

How to grow Strength in social media

Lots of meals and phone calls. makes people value their online interactions, and the more costly the better.

Ongoing social-grooming, e.g., following back people who follow you on twitter.

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Information before social media Social media...

How to grow Information in social media

Enter all business cards diligently into your Rolodex.

places everyone online so you can track them down.

Use CRM system linked to social networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

http://www.flickr.com/photos/renaissancechambara/3122900531/

© 2014 David Teten. More at ffvc.com and teten.com

Character – Competence – Relevance – Strength – Information – Number – Diversity

How to grow Information before social media Social media...

How to grow Information in social media

Enter all business cards diligently into your Rolodex.

places everyone online so you can track them down.

Use CRM system linked to social networks.

© 2014 David Teten. More at ffvc.com and teten.com

Character – Competence – Relevance – Strength – Information – Number – Diversity

How to grow Information before social media Social media...

How to grow Information in social media

Enter all business cards diligently into your Rolodex.

places everyone online so you can track them down.

Use CRM system linked to social networks.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Number before social media Social media...

How to grow Number in social media

Meet people superficially. allows easy group-forming around common interests.

Networking is devalued; meeting and building actionable relationships matters more.

http://500px.com/photo/2906486 , http://500px.com/photo/1348476

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Number before social media Social media...

How to grow Number in social media

Meet people superficially. allows easy group-forming around common interests.

Networking is devalued; meeting and building actionable relationships matters more.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Number before social media Social media...

How to grow Number in social media

Meet people superficially. allows easy group-forming around common interests.

Networking is devalued; meeting and building actionable relationships matters more.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

Network Valuation Formula

David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Diversity before social media Social media...

How to grow Diversity in social media

Restricted by time, space, and culture.

expedites creation of heterogeneous networks, but most people don’t take advantage of this.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.

http://www.flickr.com/photos/vancouverfilmschool/6047447328/ , http://www.flickr.com/photos/vancouverfilmschool/6046899067/

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Diversity before social media Social media...

How to grow Diversity in social media

Restricted by time, space, and culture.

expedites creation of heterogeneous networks, but most people don’t take advantage of this.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Diversity before social media Social media...

How to grow Diversity in social media

Restricted by time, space, and culture.

expedites creation of heterogeneous networks, but most people don’t take advantage of this.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

How to grow Diversity before social media Social media...

How to grow Diversity in social media

Restricted by time, space, and human desire for homogeneity.

Value of heterogeneous networks increases.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO.

Character – Competence – Relevance – Strength – Information – Number – Diversity

© 2014 David Teten. More at ffvc.com and teten.com

= D * ∑ (Chn*Con *Rn* Sn*In)

Network Valuation Formula

N

n=1 David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity

Any questions ?

Slides at ffvc.com/dating

Sign up for updates at ffvc.com // @ffvc teten.com // @dteten

© 2014 David Teten. More at ffvc.com and teten.com

Disclaimer This Presentation is for the exclusive use of the recipients to whom it is addressed. References to the “Presentation” includes any information which has been or may be supplied in writing or orally in connection with the Presentation or in connection with any further inquiries in respect of the Presentation. This Presentation is not intended to serve as basis for any investment decision. While the information contained in this Presentation is believed to be accurate, the Preparers have not conducted any investigation with respect to such information. The Preparers expressly disclaim any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from, this Presentation or any other written or oral communication transmitted to any interested party in connection with this Presentation so far as is permitted by law. In particular, but without limitation, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, estimates, forecasts, analyses or forward looking statements contained in this Presentation which involve by their nature a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied in this Presentation. By its acceptance hereof, each recipient agrees that none of the Preparers nor any of their respective Representatives shall be liable for any direct, indirect or consequential loss or damages suffered by any person as a result of relying on any statement in or omission from this Presentation, along with other information furnished in connection therewith, and any such liability is expressly disclaimed. Except to the extent otherwise indicated, this Presentation presents information as of the date hereof. The delivery of this Presentation shall not, under any circumstances, create any implication that there will be no change in the affairs of ff Venture Capital or HBS Alumni Angels after the date hereof. In furnishing this Presentation, the Preparers reserve the right to amend or replace this Presentation at any time and undertake no obligation to update any of the information contained in the Presentation or to correct any inaccuracies that may become apparent. This Presentation shall remain the property of ff Venture Capital and HBS Alumni Angels. This Presentation does not constitute a recommendation regarding the shares in ff Venture Capital or HBS Alumni Angels. No securities commission or regulatory authority in the United States or in any other country has in any way opined upon the accuracy or adequacy of this Presentation or the materials contained herein. This Presentation shall not form the basis of any contract. The distribution of this Presentation in certain jurisdictions may be restricted by law and, accordingly, recipients of this Presentation represent that they are able to receive this Presentation without contravention of any unfulfilled registration requirements or other legal restrictions in the jurisdiction in which they reside or conduct business.