{"id":2059,"date":"2017-07-26T16:11:51","date_gmt":"2017-07-26T20:11:51","guid":{"rendered":"http:\/\/blogs.montclair.edu\/entrepreneur\/?p=917"},"modified":"2017-07-26T16:11:51","modified_gmt":"2017-07-26T20:11:51","slug":"renowned-angel-jason-calacanis-shares-advice-on-entrepreneurship-investing","status":"publish","type":"post","link":"https:\/\/www.montclair.edu\/entrepreneur\/2017\/07\/26\/renowned-angel-jason-calacanis-shares-advice-on-entrepreneurship-investing\/","title":{"rendered":"Renowned \u201cAngel\u201d Jason Calacanis shares advice on entrepreneurship, investing"},"content":{"rendered":"

When he nailed his first major exit, Jason Calacanis<\/a> sat at his computer, refreshing the screen on his Bank of America account. When the balance changed from $3,000 to $30 million, he began to cry. His wife asked what was going on, and Calacanis turned the monitor to her and said, \u201cWe don\u2019t have to worry about money anymore.\u201d<\/p>\n

Calacanis told the tale of AOL\u2019s $30 million buy of Weblogs, a blog network he created with childhood pal Brian Alvey<\/a>, along with other stories of entrepreneurship and investing while visiting Montclair State<\/a> on July 25. Nearly 150 people attended the event where Calacanis, a renowned serial entrepreneur and angel investor, was interviewed by David Sorin<\/a>, a partner at McCarter & English<\/a>. The event was presented by the Feliciano Center for Entrepreneurship<\/a>, and it was Calacanis\u2019 only appearance in New Jersey for the launch of his first book, \u201cAngel.\u201d<\/a><\/p>\n

\u201cWe had an engaging, lively conversation that reveals the pivotal role of technology and entrepreneurship, politically, socially and, of course, economically,\u201d said Sorin, whose firm sponsored the event. \u201cJason was generous with his time and insights, with honest and provocative responses to my questions and those of the roughly 150 attendees at Montclair State University.\u201d<\/p>\n

\"Calacanis<\/a>
Calacanis was interviewed by David Sorin, of McCarter & English, the event sponsor.<\/figcaption><\/figure>\n

Although Calacanis has been extremely successful, resulting in financial windfalls, he wanted the audience to know he was just \u201ca kid from Brooklyn\u201d who if he wasn\u2019t a rags-to-riches story, was perhaps a Toughskins-to-riches tale. Calacanis talked about his family making tough financial decisions while he grew up, and said he wrote \u201cAngel\u201d so others could use it as a playbook to see what\u2019s possible. \u201cDoing hard work and trying to be successful is a good thing,\u201d he said.<\/p>\n

Calacanis went to Fordham University at night, while working as a waiter and fixing laser printers. He pondered how people get rich and powerful, and gravitated to journalism, figuring the editor who puts people on the front cover of a publication is the one with the power. After launching and selling VentureReporter.net (born as Silicon Alley Reporter) and Weblogs, Calacanis moved into investing, scoring unicorns\u2014or investments of more than $100 billion\u2014in two of his early funding ventures, which included Uber. Calacanis\u2019 unicorn track record is six among his first 100-150 investments, a score he compared to hitting three half-court shots during a basketball game.<\/p>\n

\"Jason<\/a>
Calacanis covered investing and entrepreneurship, as well as politics.<\/figcaption><\/figure>\n

For tips on how he invests, Calacanis said people assume if he invests in something it will automatically succeed, but that\u2019s incorrect. \u201cIt\u2019s not causation, it\u2019s correlation,\u201d said Calacanis.<\/p>\n

Calacanis said he prefers to invest in someone who has a prototype, because anybody can have an idea. He wants to fund people who are dogged, hard-working, indefatigable and willing to add new skills. \u201cIf I find a founder who won\u2019t give up, that\u2019s the magic.\u201d<\/p>\n

\"Frasca<\/a>
Prof. Jason Frasca, left, delivered welcome remarks at the event.<\/figcaption><\/figure>\n

When a 26-year-old attendee asked about the most important skill to have, Calacanis said it\u2019s the ability to acquire new skills, and always be thinking: where can I find the hack to add this skill to my toolbox. \u201cHave a habit of learning, just like a habit of working out,\u201d he said.<\/p>\n

When he hires for one of his companies, such as Inside.com, Calacanis looks for \u201cmissionaries, not mercenaries,\u201d because the latter are just a skill-for-hire who will jump to a higher salary at any time, whereas missionaries support the mission of the company.<\/p>\n

Calacanis spoke of advocating for more women in the startup world, especially in tech. When an attendee asked how to find diversity in a co-founder, Calacanis advised first to find someone who is passionate about the problem you are trying to solve, even if the person looks like you, but make sure they value diversity. A founder might have to wait until your third hire to find the right, diverse fit but can also be creating a culture of diversity in the startup, he said. Regarding the sexual harassment allegations that have been roiling Silicon Valley lately, Calacanis said there must be zero tolerance. \u201cIt is so front and center in our industry,\u201d he said. \u201cIt\u2019s career-ending at this point. \u2026 It\u2019s one-and-done now.\u201d He also credited that there are so many powerful women in tech who won\u2019t tolerate such behavior any longer.<\/p>\n

\u201cI\u2019m happy he touched on the diversity and gender issues,\u201d said attendee Kavell Taylor<\/a>, co-founder of Homeowners Hub<\/a>. \u201cIt\u2019s being discussed in an open forum, and was met with such warmth from the audience.\u201d<\/p>\n

Learn about Women Entrepreneurship Week.<\/a>
\n<\/em><\/p>\n

Calacanis, who was generous with his time as he chatted with each attendee during the book signing, was genuinely curious to learn from the people in the audience. When a man in a wheelchair asked how there could be more startups serving people with disabilities, Calacanis answered: \u201cI would look to you to tell me. You tell me how I can help, how entrepreneurs can help people with disabilities live full lives\u201d and then offered to talk further with the man.<\/p>\n

\"Calacanis<\/a>
Calacanis chatted with each attendee as he signed books.<\/figcaption><\/figure>\n

Calacanis delved into politics, leaving some to wonder if he might run for office someday \u2013 a scenario he jokes about on his \u201cThis Week in Startups<\/a>\u201d podcast, and he owns the domain MayorJason.com (which redirects to his @Jason<\/a> Twitter account). With a liberal streak, Calacanis also said that if attendees thought he was a \u201cmarauding free-market monster,\u201d they\u2019d be half correct.<\/p>\n

\u201cWe have the most open meritocracy in the world. \u2026 This meritocracy draws the best people in the world,\u201d said Calacanis, objecting to limits on which immigrants can enter the U.S. He said he decided, \u201cI need to get more involved because if we don\u2019t get more involved, things can go way off course.\u201d<\/p>\n

Calacanis talked about a coming \u201cjobpocalypse\u201d in which everything from baristas to lawyers will be replaced by artificial intelligence and robots. He predicted no one will be working at a McDonald\u2019s register in three years, because customers will place orders at kiosks.<\/p>\n

\u201cThis future is inevitable. We have to be the first ones there, as American companies,\u201d he said.<\/p>\n

Calacanis even opened the possibility of darker consequences, noting there could be a revival of Occupy Wall Street protests, and that wealthy people he knows are building houses off the grid in New Zealand or Montana as prep for the 1 or 2 percent chance of a class revolution. \u201cAs all these jobs will go away, there will be riots in the street,\u201d Calacanis said, adding he believes there is an \u201c80 percent chance we\u2019re teetering on unrest.\u201d<\/p>\n

Despite the dismal prediction, Calacanis overall is an optimistic guy. He said our phones, with their constant stream of news and info, allow us to know about the worst thing happening on the planet at any given moment, yet in so many areas, life has improved.<\/p>\n

\u201cActually, net-net, it\u2019s getting better,\u201d he said.<\/p>\n

\"people<\/a>
Attendees line up for Calacanis to sign their “Angel” books.<\/figcaption><\/figure>\n

Whether Calacanis\u2019 comments were sunny or serious, attendees were eager to soak up his advice and tips.<\/p>\n

\u201cI thought he was very insightful and entertaining. I think he captured the imagination of the crowd on how entrepreneurship is going to solve this country\u2019s problems and move us forward,\u201d said Peter Chmie<\/a>l, a serial entrepreneur who traveled from Sayreville for the event.<\/p>\n

Abhisek Vyas<\/a>, president of Rutgers Entrepreneurial Society<\/a>, said, \u201cIt was incredible because it\u2019s not every day you get to meet a tech leader on the East Coast.\u201d<\/p>\n

\"people<\/a>
Nearly 150 people came to the event.<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

When he nailed his first major exit, Jason Calacanis sat at his computer, refreshing the screen on his Bank of America account. When the balance changed from $3,000 to $30 million, he began to cry. His wife asked what was going on, and Calacanis turned the monitor to her and said, \u201cWe don\u2019t have to […]<\/p>\n","protected":false},"author":21,"featured_media":927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[19,28,50,60,64,85,103,144],"class_list":["post-2059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","tag-angel-book","tag-brian-alvey","tag-david-sorin","tag-entrepreneurship","tag-feliciano-center-for-entrepreneurship","tag-jason-calacanis","tag-mccarter-english","tag-startups"],"_links":{"self":[{"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/posts\/2059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/comments?post=2059"}],"version-history":[{"count":1,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/posts\/2059\/revisions"}],"predecessor-version":[{"id":207907,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/posts\/2059\/revisions\/207907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/media\/927"}],"wp:attachment":[{"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/media?parent=2059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/categories?post=2059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.montclair.edu\/entrepreneur\/wp-json\/wp\/v2\/tags?post=2059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}