Responding to a question from Heidi Roizen, Stanford alumni panelists describe the challenge of exporting aspects of Stanford’s entrepreneurial ecosystem. Sequoia Capital’s Roelof Botha expresses the need for patience in developing interplay between academia, finance and industry, as well as flexible legal and financial conditions. Kit Rodgers of Cryptography Research also articulates why a willingness to fail is a crucial attitude for developing a vibrant ecosystem.