In emerging markets, there’s a dislocation in how internet access translates to online sales, unlike in developed markets. Your mental models for developed markets are doomed to fail here. That gap is my opportunity. 
Poverty + Illiteracy => consumer tech consumption barriers
=> shallow tech markets (liquidity) => Low tech venture funding per capita
If one could draw an exit cap map, it’d match w/ foregoing maps. So, it’s better, like Bill Gurley said, for one to face reality and “...play the game on the field—and the game on the field may be particularly sloppy."
Any African founder absolutely stuck on building an online/tech unicorn shouldn’t be building inside Africa, or for Africa, or out of Africa. Any VC absolutely stuck on investing in online/tech for unicorn exits shouldn’t be doing Africa.
Africa couldn’t care less.
Africa couldn’t care less.
“Entrepreneurship [and venture capital] involves an ability to exercise judgment and choice about time, relevance structures and objects within which entrepreneurs are embedded and from which they must disembed and deviate mindfully to create new paths.”
What’s the “game on the field” of African tech entrepreneurism/venture capitalism? What is/are the best playbook(s) for great entrepreneurs/VCs in this African field? The terrain doesn’t support anything we’ve seen anywhere else in the world wld work here.
Do your own thinking!
Do your own thinking!
Framing, deframing and reframing. Crediting, discrediting and recrediting. Learning, unlearning and relearning. Employing, disemploying, reemploying. Embedding, disembedding and reembedding => what the greatest entrepreneurs and VCs continually do.
Do your own thinking!
Do your own thinking!
