Slide #1Agenda for Session 5Agenda for Session 51. Housekeeping and News2. AIR Case Analysis3. Dan Browne, Revance4. What Can We Learnfrom Yahoo And AIRCasesReference: SahlmanSahlmanSahlman’’ssModelModelSlide #3Vision:Strategy:Execution:Reference: Dorf and Byers (Figure 8.4)Slide #4Sell 100% toAnother Firm(M&A)Partnerships:Sponsors and/orStrategic InvestorsTake VentureCapitalInvestmentMoreCostly(Dilution)IncreasingEntanglement(Loss ofControl)Yahoo!AIRSlide #5What Can We Learn FromWhat Can We Learn FromYahoo and AIR Cases?Yahoo and AIR Cases?1. Illustrated the differences between just a good ideaand a true business opportunity.2. Provided practice on using the Sahlman and otherframeworks for understanding entrepreneurial process.3. Examined how entrepreneurs can “make meaning” withhigh-impact ventures.4. Introduced the concept of managing four kinds of risk:technology, market, team, and financial.5. Highlighted the differences between informationtechnology and life sciences (biotech) ventures.6. Demonstrated two different outcomes for successfulventures: an established/independent enterpriseversus merger/acquisition with another firm.Slide #6Thank You, Dan!Thank You,
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