20 VC 055: David Pakman @ Venrock on The Future Of The Music Industry

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 15 July 2015

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Quote of the Day: 'A great entrepreneur has the ability to bend the world to their will'. David Pakman, 20VC

David Pakman is a Partner at Venrock, having spent the past 12 years as an internet entrepreneur. This includes David's appointment as CEO of eMusic, the world’s leading digital retailer of independent music, second only to iTunes. Prior to joining eMusic, David co-founded Myplay in 1999, which he later sold, in 2001, to Bertelsmann’s ecommerce Group. Before Myplay, he was Vice President at N2K Entertainment, which created the first digital music download service. If that wasn't enough David is also the co-creator of Apple Computer’s Music Group.

In Today's Episode You Will Learn:

How David started his career as an entrepreneur and later made the move to VC?
How David found the transition from entrepreneur and CEO to being a VC?
What is the main value add that both Venrock and David provides to their investments?
What makes a great entrepreneur for David?
How long do VCs need to know entrepreneurs before making investments?
What 3 tips would David give for best sourcing deals as a VC?
What areas does David believe are soon to be disrupted? How does David predict the next big industries to be disrupted?
What did David think of Jay Z's launch of Tidal?
Who will dominate in the music streaming sector in the coming years?

Items Mentioned in Today's Episode:

As always you can follow Harry, David, The Twenty Minute VC and Venrock on Twitter here!

Transcript

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0:00.0	And we are back in the land of New York City for episode 54 of the 20 minute VC with your host,
0:05.9	Harry Stebbings. And I cannot tell you how excited I am to welcome to today's guest. I've been a huge
0:12.4	fan and admirer of his for a long time now. It is, of course, the legend, David Patman, partner
0:19.1	at Venrock. Prior to Venrock, David spent 12 years as an internet entrepreneur.
0:24.2	He was the CEO of e-music, the world's leading digital retailer of independent music,
0:29.4	second only to iTunes.
0:31.3	Prior to e-music, David co-founded MyPlay in 1999,
0:36.0	which he then sold to Bertelsman e-commerce group. And if that wasn't enough,
0:40.8	the legend David was also co-creator of Apple Computers Music Group. But before we delve into
0:47.9	today's amazing interview with David, are you looking an inbox full of Canada applications
0:52.8	and feeling a little overwhelmed?
0:54.9	Or head on over to hiring screen, their blink algorithm allows you to build your job by selecting criteria such as work experience, qualifications and many more.
1:04.2	And then let blink do the heavy lifting by scoring each candidate against your requirements and displaying every candidate in order of relevance for the job.
1:13.0	But ladies and gentlemen, the time has come. Without further ado, it is the legend, David Pacman.
1:18.6	Three, two, one, zero.
1:24.0	You have now arrived at your destination.
1:26.8	David, welcome to the 20 minute VC.
1:28.9	It's a great pleasure to have you on the show.
1:31.7	I'd love to start off by hearing a little bit about you
1:34.3	and your start in the entertainment industry
1:36.5	and then how you made your move into the VC world.
1:40.9	Well, okay.
	...

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