Brad Feld: Embracing the “Give First” Philosophy and Mastering Mentorship at Every Stage of Life

For many years, Brad Feld has adhered to a simple principle: give selflessly, expecting little in return. This perspective transcends the typical pay-it-forward mentality. He believes in helping others with the understanding that significant relationships and opportunities will naturally manifest over time.

As an experienced entrepreneur and venture capitalist, Feld began angel investing during the 1990s and gained prominence through his candid blog, “Feld Thoughts,” which exposed the once-secretive venture capital industry and sparked numerous dialogues in Silicon Valley. After years as an investor and co-founding Techstars and the venture capital firm Foundry Group — which has aided hundreds of startups over 18 years before ceasing new fundraisings in early 2024 — Feld has summarized his philosophy on business and life in his latest book, “Give First.”

Recently, TechCrunch interviewed Feld about mentorship, establishing boundaries, and his belief that vulnerability is essential for effective leadership.

You’ve been contemplating the “Give First” concept for over a decade. What prompted you to finally pen the book?

This is my ninth book, and I was nearing the conclusion of my nonfiction writing career; I’m excited to explore science fiction next. The likelihood of this being my last book, along with my desire to clarify these concepts, inspired me to start writing around three years ago.

The idea first emerged in my 2012 book “Startup Communities” as a section called “Give Before You Get.” It argues that for a startup community to flourish, it requires people who are willing to invest effort without a clear understanding of their return. It’s not entirely altruistic — they will eventually gain something, although the timing, source, and nature remain uncertain.

You were quite prominent in the past, but then took a step back. After two years away from the public eye, what led to your return?

I reached a stage where I didn’t want to be active in any public role. I felt drained and burnt out. Instead, I focused on behind-the-scenes contributions, allowing [my wife] Amy and me to spend more quality time together without outside disturbances. That has been immensely gratifying.

When David Cohen resumed his position as CEO of Techstars a year ago, I told him I was open to being as involved as he needed, even though I still didn’t seek public engagement. Collaborating with him on strategy reengaged me significantly. I also revisited the [book draft] and thought, “This is quite impressive.”

This book focuses on mentorship in its various forms and the importance of setting boundaries to avoid burnout. The saying ‘no good deed goes unpunished’ relates to this idea. How can mentors protect themselves while still being generous?

This topic is a focal point throughout the book. I’ve candidly shared my mental health struggles to help reduce the stigma surrounding these issues. There aren’t definitive answers to this question. A challenge arises when you’re willing to invest energy without expecting anything in return and then encounter individuals who are unable to reciprocate or who take advantage of that willingness.

Adam Grant discusses this in “Give and Take,” categorizing givers on one end, takers on the other, and traders in between. In reality, most individuals are traders or takers. While takers may thrive in the short term, over time, givers tend to find greater success when success is measured beyond power and wealth.

You emphasize the importance of saying “I don’t know” when mentoring. Why is this critical?

It can be detrimental for new founders when seasoned, successful figures act as if they possess all the answers. The essence of entrepreneurship is generating numerous hypotheses, testing them quickly, and learning from failures.

Currently, many present their thoughts as certainties rather than hypotheses. This blending of opinions and facts leads to confusion. The most effective mentors share data and hypotheses rather than definitive commands on what one should do.

One of my core principles is “guide, don’t control.” Even when you believe you have the answer, effective managers recognize that the best way to gain commitment is to empower others to make that commitment themselves.

There’s a lot of opinion shopping happening behind the scenes. How should founders navigate conflicting advice from different mentors?

When I sought feedback on my initial draft [of the book] from 25 people, I encountered numerous conflicting perspectives. The more mentors can provide feedback grounded in their own experiences, the more valuable it becomes. Instead of saying, “here’s what you should do,” they ought to communicate, “here’s a relevant experience I had, and here’s how I dealt with it.”

If mentees approach feedback in this way, conflicting advice becomes easier to manage; they’re collecting varied insights rather than navigating a choose-your-own-adventure scenario. It’s about synthesizing insights that resonate with their specific context, making informed decisions, and then conveying those decisions back to mentors for support.

When is someone ready to take on a mentoring role?

The essence of mentorship is that the most successful mentor-mentee relationships evolve into peer relationships where mutual learning occurs. Essentially, anyone can be a mentor at any moment.

Some of my most profound lessons have come from individuals at the early stages of their careers—like those in college or launching their first businesses. My friend Rajat Bhargava was merely 21 when we began collaborating in 1994, and the knowledge we’ve exchanged since then is remarkable.

There are highly accomplished individuals who make poor mentors, while others may be relatively inexperienced yet excel in this role. A person’s ability to mentor is not tied to their success or experience; it revolves around their approach.

How does this philosophy apply in the current climate, especially with major layoffs in tech and disruptions caused by AI?

Currently, there’s a notable unpredictability concerning the future based on what anyone is stating. Our understanding of imminent developments is severely lacking. The extreme proclamations being made possess an unprecedentedly low predictive value.

We find ourselves in a chaotic environment, yet I believe this philosophy is timeless. My goal with this book isn’t for people to assert that I was right — it’s to inspire innovative thinking or to affirm existing ideas in a constructive way.

You continue to manage funds and assets accumulated over the last two decades. Any final thoughts on moving beyond the traditional venture model?

Amy and I frequently remind ourselves: we’re all mortal. The timing of that day is unknown. What will you choose to make of your precious life? Many cling to the idea of staying relevant in their later years… if that brings you happiness, then great. But for many, the question of whether to pursue that path is no.