It is not every day that young entrepreneurs get to meet Vinod Khosla, co-founder, Sun Microsystems, and now a venture capitalist. The gathering at Nasscom where Khosla was narrating his experienceon Wednesday showed he is an inspiration for youngsters.
“Today, people keep talking about Facebook and how big it has made in a short period of time. I think Facebook is just the beginning. The next-generation social applications will be much bigger,” Khosla said, adding that in India, everyone wants to replicate an Amazon or a Monster.com. “The country has its own unique problems and there is enough scope for originality,” he said, at the Nasscom summit on ‘India Product Conclave-2011’.
When asked whether he ever feared failure, Khosla said only those who dare to fail can succeed. “Freedom to fail is a key ingredient in success. Try and fail, but do not fail to try. Every disadvantage in India is an opportunity to do something big,” he said.
Citing himself as an example, Khosla said that before venturing into Sun Microsystems, he had started a company that did not last even a year. “I did lose money, but eventually I made 10 times the money I lost. The key is to learn from the mistakes made,” he said.
Encouraging youngsters to take up entrepreneurship, Khosla said there will be peer pressure to earn big salaries. “When I started Sun Microsystems, all my friends were working for big companies. But, I was sure I wanted to start a company and be my own boss. Being an entrepreneur was and will always be ‘hot’,” he said. On the fixation to join big companies, Khosla said too much importance is given to MNCs and government, which are irrelevant in the innovation environment.
“Have the courage to work for a small company where your own innovations will be valued,” he said. He said even though he is 56, he has no intention to retire in the next 30 years. “You grow old when you retire, not retire when you are old. I love what I do and it is a thrill to try something new every day,” he said.
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