Web Summit 2017: Tim Draper on why entrepreneurs should travel the world, pitch him ICOs, and wear Bitcoin ties

Courtesy Web Summit Flickr

Tim Draper is perhaps one of the world’s foremost proponents of Bitcoin. “It’s an exciting time for us bitcoin-ers,” the Draper Fisher Jurvetson and Draper Associates founding partner recently told AWS Startups. “In five years, you’re going to try to pay in fiat currency at Starbucks and they’re going to laugh at you.” In addition to talking up the digital currency, Draper also had plenty of advice for entrepreneurs looking to pitch him with ideas. “Travel the world; I never would have funded Baidu if I hadn’t traveled to China,” he said. “I wouldn’t have known the Chinese needs if I hadn’t gone there.”  He also recommends challenging industries that have gotten bloated. “Are they challenging the oligarchy? That’s what I look for in an entrepreneur.” Listen on for more startup advice.