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Deborah Magid
Co-Founder and Managing Director, DoubleStar Venture Partners; CVC Advisor, former IBM Ventures
Deborah Magid is the Co-Founder and Managing Partner of DoubleStar Venture Partners, focusing on early stage startups in AI-enabled industries alongside Alexandra Sasha Johnson. With a background as the Director of Strategy at IBM Ventures, Deborah has extensive experience in building relationships with venture capital firms and driving innovation in the industry. Her specialties include AI, IoT, Cyber Security, Analytics, and Cloud technologies, as well as a keen interest in women in tech and emerging markets and business models. Deborah holds a B.A. from the University of Pennsylvania and an M.A. from the University of Connecticut. She has been associated with various organizations including DoubleStar Venture Partners, Pitch Global, Innovation Now LLC, IBM Corporation, Taligent, and GE Information Services.
Highlights
I am telling stories weekly to illustrate what I've learned and imparted to those who I mentor.
Now for Career Advice 2.0: Negotiation.
Many professionals fail to negotiate for salary, benefits, working conditions and so forth. Women, especially, fail to negotiate salary and benefits, whether for a new job, a move or a promotion. When I moved from a job at GE in Maryland to a job in Silicon Valley at the IBM-Apple JV called Taligent, my own mentor told me to ask them to double my salary. I was floored. No Way!! He said, your Mantra is "Double my salary. Double my salary. Double my salary." I still had the job at GE, so I decided to go for it. I explained the reasons to the Taligent recruiter. The Taligent exec said OK. Wow! So I asked for 4 weeks of vacation instead of 2, as I was moving across country. They said OK. They then threw in moving expenses, a $10K signing bonus, and offered to buy my house if I couldn't sell it in a year. OK, that was 1995. But still -- you won't get what you don't ask for. When you negotiate, always know what your fall-back position is, always have good reasons for the ask and then stick to your guns. It won't always work. But you have to try! Do you have a story to share?
Career Advice 1.0: When I mentor entrepreneurs or colleagues or employees, I always tell them to create situations where luck can happen. Does it help to get lucky? Often! But can you make that more likely? Sometimes, yes. It happened to me. Many years ago at IBM I had been living in Silicon Valley for only a couple of years. I was between assignments and was being told I had to move back to headquarters. I REALLY didn't want to leave SV. I pinged the person who was the first IBM exec I had ever met when I joined the company, Robert LeBlanc. It was a Friday afternoon. He gave me his home phone number and said to call right away. I did. He asked what was wrong. I told him. He said, have a nice weekend, I'll call you on Monday. On Monday I had the job in IBM Ventures. Wow, how did that happen? I called him on the day that Gerard Mooney, the MD of IBM Ventures, was looking for a software exec to join as an extended member of the team. The timing was super lucky -- but I created an opportunity for luck by picking up the phone. If you've been lucky, share your stories!
