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David Cohen is the founder and CEO of TechStars. Previously, David was a founder of several software and web technology companies. He was the founder and CTO of Pinpoint Technologies which was acquired by ZOLL Medical Corporation (NASDAQ: ZOLL) in 1999. You can read about it in No Vision, All Drive [Amazon]. David was also the founder and CEO of earFeeder.com, a music service which was sold to SonicSwap.com in 2006. He also had what he likes to think of as a "graceful failure" in between.

David is a active startup advocate, advisor, board member, and technology advisor who comments on these topics on his blog at DavidGCohen.com. He recently co-authored Do More Faster with Brad Feld. He is also very active at the University of Colorado, serving as a member of the Board of Advisors of the Computer Science Department, the Entrepreneurial Advisory Board at Silicon Flatirons, and the Board of Advisors of the Deming Center Venture Fund. He is a member of the selection committee for Venture Capital in the Rockies, and runs the Colorado chapter of the Open Angel Forum. His hobbies are technology, software/web startups, business history, and tennis. He is married to the coolest girl he's ever met and has three amazing kids who always seem to be teaching him something new.

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The keynote by David Cohen, founder and CEO of TechStars, at Rails Conf 2012 focuses on key lessons learned from his experiences in the startup ecosystem. Cohen discusses how developers have transformed into primary decision-makers in the venture capital world, influencing which companies receive funding based on their preferences and talents. He outlines several critical observations and actionable insights for entrepreneurs and developers, emphasizing the importance of execution over mere ideas. The talk highlights the following key points:

- **Developers as New Investors**: The relationship dynamics in startups are shifting, with developers now having significant influence over which companies are successful.
- **TechStars Overview**: TechStars has become a leading accelerator, with a very competitive acceptance rate, emphasizing mentorship and community support.
- **Community Importance**: Building a startup at TechStars means having an entire community behind you, which fosters a supportive environment for entrepreneurs.
- **Mentorship Network**: Establishing a robust mentorship network with successful entrepreneurs helps startups navigate their challenges.
- **Important Takeaways**:
  - Ideas are often worthless without execution; who you work with is more important than your initial idea.
  - Passion for the work is crucial; one should love what they are doing to succeed.
  - The success of a startup often depends on the quality of the team and their ability to pivot when needed.
  - Effective mentorship can dramatically increase a startup's success.
  - Recognizing market demand is vital to avoid building products that no one wants.
  - Engaging with potential users early and often is essential for refining ideas and ensuring they meet market needs.
  - Investors look for commitment and focus within the team, especially when it comes to refining product ideas and market strategies.
Cohen concludes by encouraging entrepreneurs to reflect on their failures as learning experiences and to share these stories to inspire others. His advice centers on the principle that community, mentorship, and strategic execution are critical elements in the startup landscape.

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