The Rise of the Rest: AOL Co-Founder Steve Case on Expanding VC Beyond the Coasts | Technovation 723

Steve Case, co-founder of AOL and the CEO & Chairman of Revolution, discusses his latest book, Rise of the Rest and his mission of growing venture capital outside of the epicenters of California, Massachusetts, and New York. He explains the thesis of the book, why 75% of VC focuses on these metropolitan areas, and what inspired him to explore this phenomenon. Steve also gives his perspective on how communities can stimulate venture capital expansion into new areas, how the Rise of the Rest Bus Tours help spur greater visibility on entrepreneurship in these areas, and the venture capital firms he partners with to realize this. He then shares specific anecdotes from his book and the stories from cities that stood out to him during his tours. Across these stories, Steve breaks down the ingredients of a successful venture that he has seen, how the pandemic has changed this, and the role government plays in growing venture capital in their cities. Finally, he talks about growing opportunities for diverse entrepreneurs, economic headwinds that entrepreneurs are beginning to face, and how the tech community has grown in the D.C. Metro area.

0:00:00 Introduction
0:01:07 Why 75% of VC goes to Only Three Metropolitan Areas
0:03:10 Genesis of Steve's Thesis for Rise of the Rest
0:05:50 Stimulating VC Expansion to be Lasting in New Cities
0:07:49 Origination of the Rise of the Rest Bus Tours
0:09:38 VCs Steve Partners With
0:12:05 Timeline of the Rise of the Rest Bus Tours
0:14:38 Developing an Ecosystem that Benefits Ventures in Certain Industries
0:17:48 Anecdotes from Steve's Rise of the Rest Bus Tours and Book
0:21:37 Ingredients of a Successful Entrepreneur
0:24:07 Role of Local Government in Venture Capital
0:28:19 Growth of Opportunities for Diverse Entrepreneurs
0:30:36 How the Pandemic Has Changed The Ingredients of a Successful Startup
0:33:55 How Economic Headwinds Have Impacted the Pace of Investment
0:37:39 Evolution of the Tech Community in the D.C. Area
0:40:10 Outro

----------------

#podcast #venturecapital