965: What It’s Like to be a Venture Capitalist With Patrick McGinnis, Dirigo Capital Advisors [Main T4C Interview]

Patrick McGinnis is a best-selling author, speaker, entrepreneur, and international venture capitalist (VC) at Dirigo Capital Advisors. In 2004, he coined the term FOMO (Fear of Missing Out) and FOBO (Fear of a Better Option), and since then, FOMO has been added to the Merriam-Webster dictionary. Two of Patrick’s best-selling books include:  The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job, a guide to part-time entrepreneurship, and Fear of Missing Out: Practical Decision-Making in a World of Overwhelming Choice.  He is also the creator and host of the uber popular podcast, FOMO Sapiens. Patrick got a BSFS in international economics and Latin American studies from Georgetown University and an MBA from Harvard Business School.  WHAT YOU’LL LEARN ABOUT IN THIS EPISODE: What exactly Patrick does as a venture capitalist (3:22) How Patrick analyzes the risk-reward for his money (4:32) What inspired Patrick to write  The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job, a guide to part-time entrepreneurship (11:01) Why it’s not essential to have a background in finance to become a VC (13:19) What are the basic skills necessary to become a good VC (14:39) How to get investors as a VC (18:52) How to get your foot in the door as a VC (20:32) Why Patrick was lost after graduation (24:13) How FOMO was birthed (28:38) What is Patrick’s best career advice (42:14) What advice Patrick would give his college self (48:39)