Lucy Marcus is a London-based American venture
capital consultant, regular conference speaker and
founder of HighTech Women, a forum for women in
technology-related jobs to meet and mentor each other in
cyberspace and face-to-face.
Born in New York, she did a summer internship with
Edward Kennedy, the US senator, while studying at
Wellesley College, and later worked in public policy for
Price Waterhouse and the US Treasury Department. She
obtained a master's degree in political philosophy from
the University of Cambridge, then worked in technology
companies in the US and Europe before becoming an
independent consultant to early-stage businesses.
In 1999 she set up Marcus Venture Consulting,
which advises companies, venture capitalists and
individuals on investing in technology businesses. Last
year she launched HighTech Women, which has 1,700
members around the world. She also sits on the advisory
board of Cambridge University's Judge Institute of
Management Studies. Her husband, Stefan Wolff, is a
German expert in ethnic conflict and post-conflict
reconstruction.
"I don't tell anyone my age. I'm too young for some
people and too old for others. I'm amazed how important
age is to people. People look for boxes to put other
people into. You're a woman, you're American, you're x
or y age.
I think you've got to judge a person on what they
achieve - they've done different and interesting work,
they're a visionary or bucking the trend, they sound
like they know what they're talking about.
I love starting from scratch. Blank canvas is truly
thrilling. At Wellesley I started a national student
lobby group for more state support for higher education.
Could anything be harder? If you see something that
needs to be done, you can wait for someone to do it or
you can do it yourself. There are times when I become
afraid but that doesn't stop me from doing what I want
to do.
I'm lucky to have very smart parents and a husband
who is completely and utterly supportive and very
accomplished in his own field. I find him rather
extraordinary. We're both sort of mavericks. When I
listen to him talk about his work, I find it enormously
compelling. I'm inspired by his ability to focus, where
I am somewhat unfocused. Where I get passionate, he gets
analytical.
I couldn't do something I wasn't passionate about,
because I couldn't put the energy into it. In high
school, I always needed to do 15 things at once.
Everyone said: "You'll grow out of that." I'm still
waiting.
I've been very fortunate to have many mentors who
have taught me a can-do attitude and how to relate well
to others. There was a guy named Jim King, who was head
of the office of personnel management in Washington. One
of the best pieces of advice I got from him was that you
can either say what people want to hear and everyone
likes you or you can speak with honesty and integrity.
Maybe people wouldn't agree but they'd always know you
were telling it like you saw it.
I'm too outspoken [for a corporate environment]. If I
had gone internally to a company two years ago and said:
Let's advise venture capitalists, they would have said:
There's no market there, they don't want our help.
I came across a memo recently that I wrote to a
client two years ago saying: "There is no such thing as
the technology sector as it is defined today." That's a
fairly controversial statement to make. I also asked why
they wanted to invest in the technology sector.
Everybody else had come in and told them: You've got to
do this, it's so great.
I've been saying this ever since: if you've invested
in manufacturing in the past, think about where there
are problems [in manufacturing] and how you can solve
those with technology and then find a company that's
solving that problem. The question then is: are you
investing in technology or in raising the bar in
manufacturing? Technology is only as useful as the
industry, the individual or the organisation that wields
it.
My job is like being one of those metal detectors on
a beach - finding the gem, the essence of anything, is
so exciting. It's the Hegelian way of looking at things:
there's the thesis, the antithesis and the synthesis.
It's looking at what existed before and exists now and
pulling that together into what's going to happen next.
I love to spend time with people in completely
different industries. I don't live in California because
of that. It's very important to walk in the other guy's
shoes and understand his perspective. It's very easy to
get [too] focused on your own little industry.
HighTech Women was something I had to do: I kept
going to conferences and being one of four women in a
roomful of 200 CEOs. I found that I'd meet the most
interesting people in the ladies' room!
Being a woman and being American and having a sense
of humour gives me the liberty to do and say things that
others would find hard. I remember in my first job in
the UK, [a male colleague] asked me to fax something. I
was responsible for marketing and business development
for Europe, the Middle East and Africa. I was not
responsible for this man's faxes. I went and said: You
left this on my desk by mistake. He said: I meant to do
it, and I said: No, you made a mistake.
I asked somebody recently whether there were any
women on the board of his company, which had made a lot
of interesting changes. He said: No, there aren't, that
would be a step too far. Can you imagine?
[The forum] is all about how you get your first
non-executive directorship, your first speaking
engagement, your first opportunity to write something -
how you progress your career. We have a 'pool of
directors' from which companies can draw women who are
first-time directors as well as those who have been
directors.
Part of getting your first directorship is knowing
people who know people who know people. But I hate the
word networking. It's a bit cold. I would hate to think
someone perceived me as thinking about this all the
time. I just love talking to interesting, new, smart
people.