Srinivasan and McCormick spoke on a panel at the Greater Austin Chamber of Commerce offices on Sunday, answering entrepreneurs’ questions and giving insight into the city’s startup culture.

Srinivasan said too often entrepreneurs are focused on the initial public offering and the potential payday it can bring. He reminded them to stay focused on the long term viability of the company. 

“Don’t obsess about valuation,” Srinivasan said. “Remember it’s a game that goes from now until you get to the Promised Land.”

McCormick, who is an investor in VolunteerSpot, an Austin-based software firm, echoed Srinivasan’s thoughts.

“If you find somebody to put money into your company at a ridiculously high valuation, then you probably haven’t taken money from someone who is a very experienced investor,” she said. 

Srinivasan, who worked with Austin Ventures before founding Live Oak Venture Partners, an early stage venture capital firm, could not answer a question about where the next revolution in tech would come from. The question, he said, demonstrates a focus on the short term.

“If I knew the answer to that, I would be an entrepreneur and not a venture capitalist,” he said. “It really comes down to the entrepreneurs and the insight they bring to the table. … That’s how great companies are built, instead of just chasing the next big thing.”