Presentation to undergraduate class in Leavey School of Business, Santa Clara University, April 2011

1. Wish I didn’t know now what I didn’t know then Entrepreneurial Lessons Learned The Hard Way Sam W. Beal Against the Wind, Bob Seger and the Silver Bullet Band

3. Validation is tricky Easy answers to easy questions won’t tell you what you need to know.

5. Plan B examples edu directory Search Search Online game modem The new “web” Adwords Adsense Content portal with display ads The interface to the web Google 2000 Facebook 2005 Yahoo AOL 1995 1985

6. What business are you in? Technology Products Solutions Bigger Faster Cheaper Time to Market antifuse

7. Catch a paradigm wave, if you can We tend to over estimate near-term change And under estimate long-term change expectation reality entry exit

8. Can’t do Plan B, our patent is on Plan A US 6,175,161, 1998 Xilinx Virtex 7, 2010 A patent isn’t a product unless you’re selling IP

9. Don’t bluff your Customer CEO: “If you don’t buy our solution, I’ll take it to your competitor.” JigSawtek

10. Don’t bluff your Customer VP of Engineering: “They’re two miles north - you can’t miss it.” JigSawtek

12. Build a team, don’t be the team.

13. Plan A - compete with Facebook

16. Business Models Satisfy an Unmet Need Launch New Technology Improve or Disrupt a Market Create a New Market streaming All of the above DVDs by mail