An Interview with Kyle Lefkoff
With views of the stunning Rocky Mountains in Boulder, Colorado, venture capitalist Kyle Lefkoff’s first words to me challenged what I believed about the perfectly symbiotic relationship between narcissism and social media:
“There is no limit to how successful you can be if you point all the credit and recognition at other people. There is no upside to drawing attention to yourself. This is my general rule to live by and I believe the most successful business people are the ones you have not heard about. They deliberately keep themselves out of news and social media.”
I wondered what Kyle thought about the driving force behind narcissism?
“Most people are insecure about themselves and their ambitions. One of the best ways to overcome this is to stand up in front of a crowd and have them applaud you. But, you shouldn’t need that. Be confident that what you are doing is the right thing for you.”
I had the pleasure of speaking with Kyle, founder of Boulder Ventures Ltd, during our visit to Boulder. Sitting beside the man who has invested in over 60 Colorado companies during his thirty-three year career as a venture capitalist, we spoke about entrepreneurship, VC investment and what he considers to be some of the most important lessons to live your life by. Read on for a most unexpected interview with Kyle Lefkoff, the experienced alpinist and mountain guide.
What do you love most about mountain climbing?
“I think that there is a gene in every mountain climber’s brain whose serotonin receptors need the constant thrill, challenge and pleasure of mountain climbing. When I was 18 years old, all I wanted to do was climb with my buddies and now… I am 59 years old and all I want to do is climb with my buddies. If you are a rock climber, Boulder is a paradise for you.”
If you had a choice over where you wanted to live or set up a company, where would you choose? Would you go with Boston, the hub for biotech, San Francisco, the hub for tech, or New York the hub for fintech? Why is it that these places become synonymous with certain disciplines?
“It is all about having a positive feedback loop in a place. People, money and success. You need to repeat this again and again. People, money and success. All the smartest people are going to the same place for a particular discipline. I don’t believe that these places will ever reach saturation. It will keep repeating, but it may slow down at some point.”
If you can keep track of where VC investment is going, you can keep track of the growing trends in the world. Kyle believes that the majority of VC funds is going and will continue to go towards the main startup hubs in the US. However, places with a great quality of life such as Boulder, Colorado are beginning to receive more and more investment.
How would you grow a new startup hub?
“You need the human capital. It is so important to have a talented workforce and an area with a special focus on something that the region does really well. You then need a concentrated infrastructure in the region such as lawyers, accountants and other professionals that can facilitate startup growth. Having a community that is open to change and supports startup culture is then your next hurdle to meet.”
What makes a talented VC?
“I think one of my biggest inspirations, Frank Bonsall, sums it up best. He says that after 7 deals and 50 million dollars in invested capital you can tell every time. That is to say that the more experience you get, the better you are at investing. A talented VC does not always necessarily need to be the guy that is the sharpest dressed. In Boulder, I dare you to pick out the successful VCs from the crowd. You won’t be able to.”
What advice would you have for young people?
“My biggest advice is to find things that create deep human relationships for you and then make it not about yourself. Make your journey and success not about yourself. It is a hard concept to grasp as narcissism is so ingrained in our culture. Surround yourself with right people for you.”
Any final words?
“Durability is the key to success. It takes a long time to master what you want to do. You need to last long enough. You need to survive. It helps if you have mentors. But most importantly… Be careful what you wish for. I know many people who chased wealth and status. Now, they are on their third wife. They are unfit and living an unhealthy lifestyle. They don’t even know their own kids. And you know what… Now, all they want to do is climb mountains like me.”
