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It’s easier than ever to start a company today, according to Sequoia Capital General Partner Michael Moritz, but there’s still the question of how many of those newly formed companies will stand the test of time. That was one takeaway from his chat with Om Malik at GigaOM RoadMap on Thursday.
Entrepreneurs have benefitted greatly from a new environment of connectedness, all of which has led to more companies being formed than ever before. “The formation of companies today is at a rate that no one has seen before, because of the ease at which the rate of information can be transfered,” Moritz said.
At the same time, Moritz said, it’s no easier to build businesses that will last decades than it might have been in the past. “It’s as difficult today to build a company of enduring merit that will be as strong 20 or 30 years from now,” Moritz said. “I don’t know that things have changed that much if you started a company 50 years ago or 100 years ago or today.”
While a lot of innovation is happening in Silicon Valley, Moritz pointed to a world of connectedness that creates new opportunities for international entrepreneurs. Moritz noted that more than 20 years ago, Sequoia reached out to less advantaged parts of the world, but it was hampered by lack of connectivity and the cost of travel when it came to doing business in India and other parts of the world. But now, the rate of innovation is expanding widely due to the quickness with which people can connect with one another.
Photo by Pinar Ozger.