Globalization: Acting Local to be Global
So, let’s talk about some of these trends that we see. So, you've all heard about the new move towards this global world. And I've seen that you had a couple of presentations, people like John Doerr who touched on that. So, I won't copy what they've said. But I would just like to iterate to you how this is changing, because we are looking more and more at companies who will have global place. So, a few years ago, we started to think about the world not just in terms of markets for our companies but also in terms of leveraging talents for outsourcing. Now, we're looking at investing in those countries and building companies. So, at Mayfield we now have Mayfield China, which just announced this. We started to invest in China along side another fund two years ago. And after spending some time in Beijing last year, we decided that we would embrace that fund and it will become Mayfield China. So, we are investing in companies that are participating in the Chinese local market and also in companies such as Semiconductors and components that are looking to exploit the global opportunity from China. So this is very exciting for us. In order to be global, you have to be local. So, we have a local team in place there. So, we're trying to manage those companies from here, but we are trying to learn what is important there. So, we are spending time trying to understand those new opportunities and how we can also support the companies that we've invested in. So, once again you've got a country that is emerging and growing fast and is looking to leverage what's been done in the U.S. but also adapting those things to its own market. What is interesting, one of the companies we've invested in China is a dating site. So, there are lots of online dating here, but in China, it's all so difficult for Chinese people to have somewhere to meet. So, online dating has an offline component. So we have lounges and places where people can actually meet the people they've met...
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