I’m a big believer in human capital. I always have been. And that value system was reinforced by my time at Stanford and in my first two jobs after college. At BP3, we’ve built a business based on people. And at some level, isn’t every business? In some industry segments it is easier to lose sight of the dependence we all have on human capital, but that’s really no excuse.
It’s nice seeing Mark Suster describe Venture Capital as such:
So I tell people we’re fundamentally in the people business. Our core skill is being able to identify talent and how to persuade the most talented people with whom we have access that we would be valuable to work with. We then help surround founders with other talent who want to join important causes but don’t have the startup idea themselves. We help founders through difficult moments, we help coach, we act as sparring partners, we help them resolve conflicts when they’re fighting with co-founders and we help them deal with adversity as well as successes.
If you’re running a company, wouldn’t you want someone like Mark investing in your company? Of course you would.