Starfire

• Entrepreneurship involves risk taking.

Chris’s Journey

Chapter I

• Graduated in 1980, went to Boeing, fast-track promoted
• First twist
  • Option 1: Stay in Boeing, take fellowship
  • Option 2: Microsoft, Word General Manager
  • Option 3: Negotiate with Boeing, spin-off a start-up
• No guts, not glory

Chapter II

• NetworkX
  • Founded 1990
  • $1M license agreement with Boeing (10 yr note)
  • $3M VC
  • 12 Ex-Boeing employees
  • 1993 Acquired by Legent Corporation
• WatchGuard
  • The first security “appliance”
  • Embed Linux firewall engine in a simple and cool UI “Firebox”
  • Targeting broadband SME market with affordable enterprise security
  • More money than Chris ever thought he would have! Exec team are wanting to leave!
  • “What do I want to be known for when I die?”

Chapter II

• Options
  • Recruit CEO to rebuild team and remain COB?
  • Recruit CEO and leave Board — freeing up assets for philanthropy?
  • Recruit new exec team and remain CEO and COB?

Takeaways

• Obsession with knowing your customer
• Commitment to compete every minute — faster, faster and faster reaction times.
• You are stronger than you think
• It’s all about the team

• Soccer in early 21st century US
  • Youth participation: white middle and upper class
  • Passion, especially with recent immigrant populations
  • Family oriented, especially among Hispanic families
• Business model for non-profit
  • Common good is primary purpose
  • Commercial activity drives revenue
  • Directly addressed social needs

Sustainable

• Triple Bottomline
  • People
  • Planet
  • Profit

Questions

Mechanism

• Where did the investment come for your 1st startup?

  • Had to take loans before the VC came in!
  • Almost at the edge of broke.

• Getting others behind ideas?

  • Ensure they feel they are cared and valued.
  • Take their input. People want to participate.

• Why do you choose setting up non-profit corporation as your way of making an impact in the world?

• What wakes you up in the morning?

Intellectual

• How do you handle failure?
  • There is no failure, only opportunities.
  • We took an incoming missile, but it’s not failure.