There’s so much that we share. It’s a small world after all.
The extraordinary success of Instagram is a tale about the culture of the Bay Area tech scene, driven by a tightly woven web of entrepreneurs and investors who nurture one another’s projects with money, advice and introductions to the right people. By and large, it is a network of young men, many who attended Stanford and had the attention of the world’s biggest venture capitalists before they even left campus.
Among this set, risk-taking is regarded as a badge of honor. Ideas are disposable: if one doesn’t work, you quickly move on to another. Timing matters. You make your own luck.
“There is some serendipity for entrepreneurs, but the people who are the rainmakers are the ones who entrepreneurs need to meet in order to make those connections that lead to success,” said Ted Zoller, a senior fellow at the Ewing Marion Kauffman Foundation who studies economic development around entrepreneurship. “The social ties that you make are directly correlated to success.”
For Mr. Systrom [co-founder of Instagram], the connections forged at Stanford were crucial.
Mr. D’Angelo, a 2006 graduate of the California Institute of Technology, helped him find engineers, set up databases and flesh out features. Soon after Instagram came out of the box, he put his money into it. So did Jack Dorsey, 35, a founder of Twitter; Mr. Systrom had been an intern at the company that became Twitter.
A colleague at Google, where Mr. Systrom worked straight out of college, introduced him to Marc Andreessen, a venture capitalist who had already invested millions in Facebook. In the spring of 2010, even before Instagram was born, Mr. Andreessen wrote him a check for $250,000.
