A general partner at Mountain View-based GV (formerly Google Ventures), Faris makes a point of creating ample time to explore other entrepreneurial hotbeds.
"I'm a fan of emerging ecosystems that are not in the Valley — other areas where the talent pools are unbelievable," he tells Business Insider. "Where it just feels like you can be a lot more thoughtful recruiting, where there's no frenzy. I like going and looking for entrepreneurs in those pockets."
"It's a breath of fresh air to be able to poke your head in and see what kind of innovation these areas have," he says. "Each ecosystem thinks in different ways. They have expertise in certain domains that others aren't as strong in. It's so fascinating to learn from."
This principle means he's racked up his frequent flyer miles. "The best way to find these companies is actually to go there. It takes work and the willingness to fly over on a regular basis to discover, learn the ecosystem, and make the connections. Some startups do come to Boston or Silicon Valley to look for investors, but I think the right way to do it is just to build connections by going there personally."
Google cofounder Sergey Brin actually made a similar statement recently, advising wannabe entrepreneurs to start their companies outside of Silicon Valley rather than in it. "During the boom cycles, the expectations around the costs — real estate, salaries — the expectations people and employees have ... it can be hard to make a scrappy initial business that's self-sustaining," he said. "Whereas in other parts of the world you might have an easier time for that."
Although Brin did say that Silicon Valley is better for raising more capital, Faris proves that it doesn't have to be a necessity.
1. What's the article mainly about?
A. Methods to raise more capital not in Silicon Valley.
B. People's willingness to fund startups outside Silicon Valley.
C. Fans of emerging ecosystems.
D. The best way for investors to find promising companies.
2. The word "ample" in Paragraph One is closest in meaning to?
A. more B. inadequate C. enough D. much
3. According to Paragraph Two, why did Faris look for entrepreneurs outside Silicon Valley?
A. Because life in Silicon Valley was too hard to breathe fresh air.
B. Because so many investors paid attention to the same area.
C. Because Silicon Valley no longer be fascinating and innovative.
D. Because he found it interesting to get to know different ecosystem.
4. How to build connections with companies outside Silicon Valley efficiently?
A. Move to Boston or Silicon Valley.
B. Discover and learn the knowledge of ecosystems aboard.
C. Go to visit these newly-started companies personally.
D. Do nothing until these start-ups come to look for investors.
5. Which may NOT be the reason for funding outside Silicon Valley according to Faris?
A. More chances to raise capital
B. Easier to make an initial business that's self-sustaining
C. Less expectations around costs
D. More amazing business areas