Rick Smith, Panelist

Bio

WHAT WAS YOUR FIRST ENTREPRENEURIAL ENDEAVOR?

I was the classic midwestern blue-collar kid trying (needing) to make money any way I could: delivering newspapers, shoveling driveways, and mowing yards.

WHAT IMPORTANT LESSON HAVE YOU LEARNED AS AN INVESTOR?

The only thing that matters is the entrepreneur. Their drive and passion are way more important than anything we do as investors.

WHAT DID YOU DO IMMEDIATELY BEFORE CROSSCUT?

I took some extended time off, to focus on my kids and take care of my ailing parents back in Illinois. It was an important time of reflection and introspection for me.

HOW DID YOU DECIDE TO FOUND CROSSCUT?

During that extended period of time that I took off, I was trying to figure out what was next. I had a conversation with my gardener, where he noted how passionate I was in describing venture capital compared to the other paths. I made the decision right there to follow my passion and get back into venture capital by founding Crosscut.

WHAT WAS THE FIRST LESSON YOU LEARNED ABOUT BUSINESS?

I learned there is no substitute for hard work. I also learned the importance of entering the right market at the right time and never discounting the role of luck in any outsized success.

WHAT DO YOU LOOK FOR IN FOUNDERS?

Grit and hustle. Not being afraid to say “I don’t know”.