"I support missionaries, not mercenaries" Tim Draper on his investment strategy

Tim Draper is a modern Silicon Valley legend. He is a fourth-generation venture capitalist whose grandfather is considered one of America's first VCs. And, after decades on Sand Hill Road, Draper opened his own venture capital firm Draper Associates, down the street in San Mateo. A big proponent of decentralizing everything, he recently created Draper Decentralized, a platform for investors to network and access approved deals. An early investor in some of the most recognized startups, including Hotmail, Skype and Tesla, Draper stands out for his frequent appearances at startup events around the world.

I caught up with Draper for an interview at Tech BBQ in Copenhagen last month, where he filmed an episode of Meet the Drapers, a self-produced international version of Shark Tank. Entrepreneurs pitch Draper, his father and sister, and a guest judge, in a contest for a million dollar investment. Danish aerospace company Airflight, which produces electric flying cranes with a 440lb payload, won the round in Copenhagen and will advance to the finals in another episode.

Amy Guttman: How did you come up with the idea for Meet the Drapers?

Tim Draper: We did it for fun, just for fun. He's my dad and my sister and a guest judge. I've always wanted to do crowdfunding and I wanted to do a show that allows viewers to get involved. We are currently redesigning crowdfunding to make sure it works. But we had a company called Boxabl that, through crowdfunding, raised $200 million. We started in big markets like India and Brazil and the show is in full swing.

Guttman: Why do you attend so many tech summits like this?

Draper: I learn by talking to people. I meet a lot and invest in a little, but I like to follow people I've met at conferences, so I guess they have a slight edge.

Guttman: How do you make investment decisions?

Draper: I'm investing in a future I want to see. I am a proponent of decentralizing anything that can be decentralised. Bitcoin and Blockchain offer the possibility of decentralization.

Beyond that, I support missionaries, not mercenaries. I support entrepreneurs who are so driven, it's what they live for. That's all they're going to do with their lives and they showed me a future I want. Mercenaries are only in it for the money and when the going gets tough they are the first to jump ship. We want people who are real captains - ready to go down with the ship, but they're going to fight through this storm.

Gutttman: What drives your decisions about which ecosystems to explore, geographically?

Draper: We have a non-pr...