Leading investor, Joichi Ito, says: ‘If you put a lot into your idea, you cannot fail’

[Anna Sergijenko, MCIoJ, Business News Contributor]

Joichi Ito, a serial investor, businessman and the founder of Creative Commons, the  internationally known non-profit organization which issues  free-of-claims  copyrights to creative individuals and companies. He recently shared his experience with BBC News.

According to Mr. Ito, the key to success is a non-standard idea coupled with tenacity and dedication.

“Every single company I did failed,” he said about his first decade as an entrepreneur. However, Mr. Ito’s  innovative ideas lead him to great success:  he has  invested  into many widely known social networking and software businesses such as Flickr, Six Apart and Twitter. An outspoken supporter of sharing economy and the important role of the Internet in shaping democratic processes, he was chosen by the World Economic Forum in 2001 as one of the “Global Leaders for Tomorrow’.

In general, his investor’s choice is in favour of online businesses. Unlike any others, which are encumbered by financial and other copyright-related issues, internet businesses according to Mr. Ito ‘are based on these open standards that allow interoperability and people to participate without asking permission, people to innovate without asking permission.’

Joichi Ito is generally known to be a man of wide interests and and a sharp eye for non-material things as such. The idea to develop social networking came to him, while observing young people in Chicago nightclubs where he worked as a DJ.

“People and communities and networks are what I’m interested in,’ he says. ‘I realised that in the sort of working-class community of the nightclubs there was a lot of very interesting stuff going on… The communities, people caring for each other.’

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