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20VC: Snowflake CEO Frank Slootman on How To Narrow The Focus and Increase The Quality, Why Every CEO Should Feel Anxious, Why Performance Reviews are BS & How to Unleash the Best People in Your Business

17 januari 2022 · 35 min
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Frank Slootman currently serves as Chairman and CEO at Snowflake and has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Prior to Snowflake, Frank served as CEO and President of ServiceNow taking the company from around $100M in revenue, through an IPO, to $1.4B. Before ServiceNow, Frank served as President of the Backup Recovery Systems Division at EMC following the acquisition of Data Domain Corporation/Data Domain, Inc., where he served as the CEO and President, leading the company through an IPO to its acquisition by EMC for $2.4B. You must check out Frank's book, Amp It Up. It can already be pre-ordered here. Lees meer

In Today's Episode with Frank Slootman You Will Learn:

1.) Narrow the Focus, Increase the Quality:

How does Frank determine what to focus on? What does the prioritisation process look like?

What one question does Frank ask his team to ensure they are focused?

What are the best answers? What are the worst? When should you change focus?

2.) When There is Doubt, There is No Doubt:

What does Frank mean by this? What does it apply to? When is there nuance?

How long does Frank give people who are underperforming? How does he communicate their underperformance to them directly but productively?

What is the right way to fire someone? Why are performance reviews BS?

3.) Make The Good People Great:

How does Frank get the very best out of his teams? How does he make the good great?

How does he use compensation and equity structures to supercharge his teams?

How does Frank set stretch targets that are both ambitious but also attainable?

4.) The Art of Leadership and Board Management:

Why does Frank believe every CEO should be anxious?

How has Frank changed as a leader over time?

What is the biggest mistake founders make when it comes to board management?

How can founders actively manage and control their board?

Item's Mentioned In Today's Episode with Frank Slootman

Frank's Favourite Book: Courage …
20VC: Opensea Founder, Devin Finzer on Scaling GMV from $150M to $3BN in 18 Months, How Brands and Celebrities Will Harness NFTs To Change Their Business, The Impact of NFTs on Gaming & What is in Devin's Metamask Wallet?!

14 januari 2022 · 36 min
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Devin Finzer is the Founder & CEO @ Opensea, the world's first and largest NFT marketplace allowing you to discover, collect, and sell extraordinary NFTs. To date, Devin has raised over $423M for the company with their last $300M round valuing Opensea at $13.3BN. Before changing the world of NFTs, Devin co-founded ClaimDog which was acquired by Credit Karma and before founding ClaimDog, Devin was an engineer at Pinterest. Do want to say, I always love Semil Shah's startup of the year, for 2021 it was Opensea, check out his piece here. Lees meer

In Today's Episode with Devin Finzer You Will Learn:

1.) How Devin made his way into the world of NFTs and came to found the first and largest NFT marketplace in the form of Opensea?

2.) The Scaling Story:

What were the first early signs that Opensea was working when they were in YC? What core metrics did they look at to determine success?

Given NFTs not being "hot" at the time, how was the fundraising process for Opensea coming out of YC? What were the early investors most excited about?

What was the inflection point when Opensea and NFTs really started to take off? What most surprised Devin about the way in which the inflection point happened?

When scaling from $150M to $4BN in GMV, what are the first things to break in a company?

How does Devin maintain company morale with such volatile crypto and NFT markets?

3.) The Next Decade of NFTs:

How does Devin predict large brands and companies will utilise NFTs for their businesses?

In what ways does Devin think creators and celebrities will use NFTs moving forward to create more efficient business models?

How does Devin respond to the statement, "NFTs do more to harm than help income inequality?"

What are Devin's biggest concerns moving forward when analysing the NFT market?

How does Devin see the future for the development and experimentation of NFTs?

4.) The Future of NFT & Gaming:

How does Devin see NFTs impacting the world of gaming most?

How does Devin think about …
20VC: The Memo: Never Before Revealed Metrics; A Full Breakdown of Unit Economics Behind JOKR, How Does Emerging Markets Compare to Developed Economies & The Biggest Misnomers on Quick Commerce with Ralf Wenzel, Founder & CEO @ JOKR

12 januari 2022 · 44 min
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Ralf Wenzel is the Founder & CEO @ JOKR, a global platform for instant retail delivery at a hyper-local scale serving both the US and LATAM. Ralf has raised over $260M for the company, most recently valuing it at $1.2BN. Prior to JOKR, Ralf spent 7 years as the Founder & CEO @ foodpanda, as well as, enjoying roles as Chief Strategy Officer @ Delivery Hero, Interim Chief Product and Experience Officer @ WeWork and even moving to the other side of the table as a Managing Partner with Softbank. Lees meer

In Today's Episode with Ralf Wenzel You Will Learn:

1.) What is the unit economic breakdown for quick commerce business models? What levers can be used to improve it over time?

2.) Comparing the US to LATAM:

What is the AOV (average order value) in the US vs LATAM?

What is the order frequency in the US vs LATAM?

How does labour cost vary when comparing LATAM to the US?

How does real estate cost for fulfilment centres differ when comparing LATAM to the US?

How do product margins on a per product basis differ when comparing US to LATAM?

3.) New Market Growth and Maturation:

What is the payback period for new markets? How has this changed over time?

How does the payback period reduce with every new market being opened?

What % of AOV is spent on marketing when a new market is opened? How does this marketing spend change over time?

In mature markets, how much new customer acquisition is organic vs paid?

What is the average weekly growth rate in new vs mature markets?

4.) Business Model Expansions:

How does Ralf and JOKR approach the potential for private label goods?

How does private label change the margin structure of the goods?

What have been their lessons from starting their first private label goods?

How does Ralf approach the ability to integrate advertising and paid search?

What is needed for paid search and advertising to be a meaningful part of the business?
20VC: Former Governor of the Bank of England, Mark Carney on Why "Only the Niche Will Survive" in Crypto, How Governments and Central Banks Retain Control in a World of Decentralised Finance & The Winners and Losers in Crypto Exchanges and NFTs

10 januari 2022 · 38 min
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Mark Carney is Vice Chair of Brookfield Asset Management and Head of Transition Investing. Prior to Brookfield, Mark served as the Governor of the Bank of England from 2013 to 2020, and prior to that as Governor of the Bank of Canada from 2008 until 2013. Mark was also Chairman of the Financial Stability Board from 2011 to 2018. Mark is a long-time and well-known advocate for sustainability and is currently the United Nations Special Envoy for Climate Action and Finance. If that was not enough, Mark serves on numerous other boards including Stripe, Bloomberg Philanthropies and the Foundation Board of the World Economic Forum to name a few. Lees meer

In Today's Episode with Mark Carney You Will Learn:

1.) How Mark made his entrance into the world of finance and came to the role of Governor of the Bank of Canada? How did that role lead to his becoming Governor of the Bank of England? How did seeing multiple booms and busts impact Mark's investing mindset?

2.) Governments, Central Banks and Regulation:

How do governments and central banks retain control in a completely decentralized financial world?

Can traditional currencies and digital currencies peacefully co-exist?

What are Mark's predictions for central bank digital currencies?

How does Mark expect governments and central banks to regulate digital currencies in the coming years?

3.) The Winners and Losers:

What does the future hold for crypto exchanges?

How do competitors for digital gold perform?

Why does Mark believe in crypto "only the niche will survive"?

What does the rise of Defi mean for traditional banks? What will determine those that survive?

What does Mark mean when he says the winners will decide "what is my interface with this crypto world?''

4.) The Future of NFTs:

Do NFTs do more to help or to harm income inequality?

How does Mark see the future for the development and experimentation of NFTs?

Who are the winners and losers in the next decade for NFTs?

How does Mark feel about the pause bet…
20VC: Whoop Founder, Will Ahmed on How CEOs Can Perform at their Highest Level, Why There is Value in Struggle Early On, Why Realism is Overrated in Startups and How To Create a Culture of Delegated Decision-Making

5 januari 2022 · 42 min
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Will Ahmed is the Founder and CEO @ Whoop, the company on a mission to unlock human performance with their wearable device that is your digital fitness and health coach. To date, Will has raised over $400M for the company with the last round valuing Whoop at $3.6BN and with a cap table including the likes of Softbank, Accomplice, Founder Collective, Foundry Group, IVP and more. Lees meer

In Today's Episode with Will Ahmed You Will Learn:

1.) How Will went from being a professional athlete and college student to founding one of the hottest startups in fitness and healthcare? What are the similarities and differences of being an athlete and being a CEO?

2.) What does Will mean when he says, "there is value in the struggle early on"? How does Will advise founders on when to give up vs when to stay the course? If Will had not struggled with funding in the early days, would the Whoop journey be different? How does Will advise founders when it comes to taking funding when it is on the table? What are the nuances to this?

3.) In what way does Will believe "realism is overrated"? When does Will believe it is good to be realistic? In what ways can it be good to be idealistic? How did Will get some of the largest sports stars on the planet to use Whoop in the early days? Why did Will always refuse to pay sports stars to use Whoop? What were the benefits of doing this?

4.) How does Will define high performance? Why does Will believe it is crucial for leaders to disassociate their own personal feelings from the progress of their company? What advice does Will give to leaders in an attempt to do this? What has Will done to be a better CEO in the last year? What does Will believe are his biggest weaknesses as a CEO?

Item's Mentioned In Today's Episode with Will Ahmed

Will's Favourite Book: Shoe Dog: A Memoir by the Creator of NIKE
20Growth: The Biggest Growth Lessons from Leading Teams at Instagram & Instacart, How To Structure The Hiring Process for Growth Teams, How To Onboard Growth Reps Efficiently and The Relationship Between Growth and The Rest of the Org with Bangaly Kaba, H

16 december 2021 · 39 min
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Bangaly Kaba is the Head of Platform Growth @ Popshop Live, a live streaming mobile marketplace that combines commerce, entertainment, and social. Prior to Popshop, Bangaly led the product growth and consumer product orgs at Instacart and before Instacart was Head of Growth @ Instagram, where he built and led the product team that helped grow Instagram from 440M to > 1B monthly actives in 2.5yrs. If all of this was not enough, Bangaly has also spent time investing as a Sequoia Scout having made investments into Career Karma, Binti.com and Squad App to name a few. Lees meer

In Today's Episode with Bangaly Kaba You Will Learn:

1.) How Bangaly made his way into the world of growth and came to lead some of the largest growth orgs in tech at the likes of Instacart and Instagram?

2.) How does Bangaly define the rule of "Head of Growth"? When is the right time for founders to start hiring a growth leader? How do they know whether to hire a growth leader or junior growth reps? Where should founders place these first growth hires in the org? Product or marketing?

3.) How would Bangaly structure the hiring process for any growth hire? What are the must-ask questions? What case studies would Bangaly ask all candidates to complete? What are the signals of a 10x growth hire? What are some core red flags that show in the interview process?

4.) What does the ideal onboarding process look like for new growth hires? What are the signs that a new growth hire is hitting target and expectations? What are some early warning signs that a growth hire is not meeting expectations?

5.) What is the ideal relationship between the Head of Growth and the CEO? How often should they meet? How should they structure the discussion? How should the growth team work with product teams to be successful? How should growth teams work with marketing teams?
20VC: John Doerr on Buying 12% of Google for $12M, His Biggest Investing Lesson from 30 Years in Venture & The Climate Crisis: Why Governments are The Biggest Problem and Where the Biggest Opportunities Are in Climate Investing?

13 december 2021 · 37 min
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John Doerr is an engineer, venture capitalist, the chairman of Kleiner Perkins, and the author of the #1 New York Times best-seller Measure What Matters. For over 40 years, John has helped build some of the most generational defining companies of our generation. He was an original investor and board member at Google and Amazon, helping to create more than a million jobs. A pioneer of Silicon Valley's cleantech movement, John has invested in zero emissions technologies since 2006. Check out his latest book, Speed & Scale: An Action Plan for Solving Our Climate Crisis Now. Lees meer

In Today's Episode with John Doerr You Will Learn:

1.) What was John's entry into climate change investing? Having backed the likes of Amazon and Google, why did John decide then was the right time to do a climate fund, a pandemic fund, an iPhone fund? How does John think about market timing risk today? How does John determine between risks he is vs is not willing to take?

2.) What was one of John's biggest lessons on risk and upside from working alongside Tom Perkins? How did the Google deal come together? Where did John first meet Larry and Serge? What convinced John to write them a $12M check for 12% of the company? Why was it a contested deal within the partnership? How did the discussion go internally?

3.) Why and how is climate innovating and investing different today than it was in 2008? What are the core OKR's laid out in the book, that we need to achieve as a society? Why does John believe that governments are the biggest problem to us achieving these objectives? What does John mean when he says, "I am hopeful but not optimistic"?

4.) What does truly great listening mean to John? How would John describe his style of board membership? What do the truly special board members do? What does John do that makes him often cited as one of the best at recruiting? What is John's biggest investing miss? How did it change his mindset and approach? What investment is John most proud of, that no on…
20 Sales: When To Hire Your Head of Sales/ First Reps, What To Look for in 10x Sales Candidates, How To Structure The Hiring Process, How To Onboard New Reps Efficiently, How To Set First Quotas and more with Kyle Parrish, Figma's VP Sales

8 december 2021 · 37 min
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Kyle Parrish is VP Sales @ Figma, the company that connects everyone in the design process so teams can deliver better products, faster. At Figma, Kyle built the sales engine from scratch to today, with over 100 incredible people in sales. Before Figma, Kyle spent over 5 years at Dropbox in numerous different roles including Head of Sales, where he scaled the Austin, Texas office from 3 to over 80 people to Global Partnerships lead, where he was responsible for growing Dropbox's partner ecosystem. Lees meer

In Today's Episode with Kyle Parrish You Will Learn:

1.) How Kyle first made his way into the world of sales and came to be one of the 3 performing sales reps in a 300+ sales team? How that led to his joining the hypergrowth journey of Dropbox? What led Kyle to make the move from Dropbox to the rocketship that is Figma?

2.) When and Who: Does the founder need to be the person to create the sales playbook? How can a founder know whether it is right to hire sales reps or a Head of Sales first? In terms of ARR, is there a time when you have to have a Head of Sales? Does Kyle agree with Jason Lemkin in terms of bringing in reps, two at a time? Where do founders make the biggest mistakes when it comes to the timing of these hires?

3.) How To Know and Test: What non-obvious characteristics do 10x sales hires have? What questions or case studies does Kyle find to be most revealing in identifying these non-obvious traits? How should founders structure the process for new reps and a Head of Sales? Meeting by meeting, what should we look to achieve?

4.) Setting Up for Success: What does the ideal onboarding process look like for new sales reps? What tasks and processes would Kyle expect new reps to complete within the first month or two on the job? What are the clearest signs of a new rep hire not working out? How should founders approach 1-1 and 360 reviews with their new reps?

5.) Working Together: What is the ideal relationship between the founder and the new Head of Sales…
20VC: Bill Gurley and Michael Eisenberg on The First Signs of an Impending Bust, What Happens with a Market Crash, How Do Public Markets Impact Private Valuations & The Biggest Lessons from 20 Years Investing in Venture

6 december 2021 · 50 min
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Bill Gurley is a General Partner @ Benchmark, one of the most successful funds of the last decade with a portfolio including Uber, Twitter, Dropbox, Modern Treasury, Snapchat, StitchFix, and many more. As for Bill, widely recognized as one of the greats in venture having worked with GrubHub, NextDoor, Uber, OpenTable, Stitch Fix, and Zillow. Prior to Benchmark, Bill was a partner with Hummer Winblad Venture Partners. Lees meer

Michael Eisenberg spent 15 years as a General Partner @ Benchmark working alongside Bill and the Benchmark partnership. Following Benchmark, Michael co-founded Aleph, one of the leading Israeli venture funds of the last decade with a portfolio including Lemonade, Melio, and HoneyBook, just to name a couple of Aleph's unicorns.

In Today's Episode with Bill Gurley and Michael Eisenberg You Will Learn:

1.) How does the current market activity in venture today compare to the dot com bubble? What elements are different? What elements are the same? What were the ramifications of the dot com bubble? Would Bill and Michael expect to see the same again? Is there anything good that comes from bubbles? How did the prior bubble impact Michael and Bill's investing mindset?

2.) Does Bill Gurley agree that Benchmark are the only firm to have retained price discipline in this crazy market? How do Bill and Michael think about their own relationship to price today? How does Bill try and answer the question, "what could go right?" when he meets entrepreneurs today? On reflection, what have been Michael and Bill's biggest miss? How did it change their approach?

3.) How does one compete in a world of Tiger and crossover funds? When it comes to capital deployment and pacing, do Michael and Bill agree with the suggestion of "playing the game on the field"? What are the nuances to this statement? What companies does Bill believe capital can be a moat for? What companies is capital not a moat and they should be conservative with raising and pre-emptive rounds?

4.) Do Bil…
20VC: AppLovin's Co-Founder & CEO, Adam Foroughi on How AppLovin Might Be The Venture Capital Industry's Biggest Miss, How To Run a 1,000+ Organisation with Very Few Meetings & Balancing the Demands of Wall St with Long Term, Sustainable Growth

29 november 2021 · 44 min
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Adam Foroughi is the Co-Founder and CEO @ AppLovin, the company that allows developers to market, monetize, analyze and publish their apps. Under Adam's leadership, he has taken the company public, grown the team to over 1,000 people around the world, and scaled revenue in 2020 to $1.5Bn. Prior to AppLovin, Adam founded two companies—Lifestreet Media and Social Hour, and before that Adam started his career as a derivatives trader. Lees meer

In Today's Episode with Adam Foroughi You Will Learn:

1.) How Adam made his way into the world of startups and came to found one of the world's largest gaming, advertising and marketing companies in the form of AppLovin?

2.) Adam founded 4 companies before AppLovin, does Adam believe in the benefits of serial entrepreneurship? What has he done differently with AppLovin having learned from past experience? What did he do the same, having seen it work before?

3.) Why does Adam advocate for as few meetings as possible within the company? Why does Adam believe meetings are unproductive? How do decisions get made internally without meetings? What is the structure and process? How does Adam create an environment where people make decisions without the fear of the repercussions? What are the breakpoints in company scaling?

4.) Why does Adam think that VCs did not want to invest in the early rounds? What were his biggest takeaways from those early fundraising days? How has Adam found the transition to being a public markets CEO? What does he like? What does he not like? How does Adam feel about pleasing the street but also having a long-term mindset?

5.) How does Adam structure his day? With 5 children, how does Adam approach work/life balance? What does his exercise and sleep routine look like? How does he do both weights and running without losing the productivity of the weights? What changes has he made in the last year that have made a significant difference?

Item's Mentioned In Today's Episode with Adam Foroughi

Adam's Favourite Book…
20VC: The Contentful Memo: Point Nine's Christoph Janz on The Cold Email That Led to a Unicorn Investment, How To Approach Market Sizing and Timing & The Pros and Cons of Pre-Emptive Rounds, When To Do Them vs When Not To?

24 november 2021 · 31 min
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Christoph Janz is the Co-Founder and General Partner @ Point Nine, one of Europe's leading early-stage firms with a portfolio including the likes of Zendesk, Algolia, Revolut, Nex Health, Loom and of course, Contentful. Prior to co-founding Point Nine, Christoph was a prolific angel investor and also the Co-Founder @ Pageflakes, leading the company from inception to their acquisition by LiveUniverse in 2008. Christoph is also one of the most thoughtful writers in SaaS and you can find his writing here. Lees meer

In Today's Episode with Christoph Janz You Will Learn:

1.) How did a cold email from the solo founder of Contentful convince Christoph to lead their first round? What was it about the email that made Christoph excited? How does Christoph advise founders today when it comes to crafting cold emails to VCs?

2.) The Market: How did Christoph analyze the market when making the investment? How much of a role does market sizing and analysis play in determining whether Christoph will make an investment? What matters more team or market? How did the market change in a way that Christoph was not expecting? How did it evolve in a way he was expecting?

3.) Business Model: How does Christoph advise SaaS founders today in crafting variable pricing mechanisms? How can you create a pricing mechanism that does not disincentivize usage but also optimizes for value extraction? Where does Christoph see many founders go wrong when it comes to pricing?

4.) Fundraising: How did the early fundraising rounds for Contentful come together? How does Christoph advise founders today on whether to take pre-emptive rounds? When can they be helpful? In what circumstances can they be very damaging? What is the best outcome that founders should be optimizing for today with fundraising?
20VC: Eugene Wei on "Status as a Service", Why Networks Grow and Stop Growing, The Worst Design Choices Social Media Incumbents Have Made & The Next 10 Years of Media and the Metaverse

22 november 2021 · 46 min
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Eugene Wei is one of my favorite thinkers, writers, and strategists in tech today. Having spent the majority of his professional career at consumer internet companies, Eugene started his career with a 7-year stint at Amazon with a focus on product. He then joined Hulu leading the product, design, editorial, and marketing teams. Post Hulu, Eugene co-founded Erly, later acquired by Airtime, and then joined Flipboard as Head of Product. Finally, Eugene's last position was with Oculus as Head of Video. You have to check out Eugene's blog and can find his writing here. Lees meer

In Today's Episode with Eugene Wei You Will Learn:

1.) How Eugene made his way into the world of tech and startups with his first position at Amazon? What did Eugene do differently that made him stand out to the recruiters at Amazon?

2.) Decision-Making: Why does the process and medium by which decisions are made matter so much? How has Euegene's decision-making process changed over time? Where do many people go wrong in constructing and optimising their decision-making process? What are Eugene's biggest takeaways and lessons from Jeff Bezos and Steve Jobs on messaging?

3.) The World of Social: What does Eugene believe is the graph design problem for so many social apps today? What does Eugene believe are the best and the worst design choices social media incumbents have made? How does Eugene encourage the next generation of consumer social founders to think through design decisions?

4.) Status as a Service: What does the concept of "Status as a Service" mean to Eugene? What is the biggest misunderstanding people have with the concept? What has fundamentally changed this concept in the last 2-3 years? How does the rise of crypto and NFT's impact the notion of "status as a service"? How does Eugene believe this will look in 10 years?

5.) The World of Media: How does Eugene think through the attention economy today? Why is media and content harder than ever today? Why does Eugene believe media has now…
20Growth: Top Growth Lessons from the Early Facebook, Twitter and Quora Days, The Most Important Question to Ask When Building Your Growth Team, How To Test For True Candidate Depth and Quality When Hiring for Growth with Andy Johns, Venture Partner @ Unu

17 november 2021 · 41 min
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Andy Johns is one of the pre-eminent growth leaders of the last decade. Andy's career started in growth at Facebook when the company scaled from 100M-500M active users. Since he has worked in some of the leading growth orgs at companies like Twitter, Quora and more recently at Wealthfront as Head of Growth and President. Andy is also an active angel investor and advisor with companies such as Poshmark, Robinhood, Webflow, Blue Bottle Coffee, and Opendoor. If that was not enough, Andy is currently a Venture Partner @ Unusual Ventures where he focuses on consumer social and network-driven startups. Lees meer

In Today's Episode with Andy Johns You Will Learn:

1.) How Andy made his way into the world of startups and growth with his joining the Facebook growth team? What were the biggest takeaways from his time with Facebook, Twitter and Quora? How did that impact his mindset today?

2.) How does Andy define "VP and Head of Growth"? When is the right time to start hiring for your growth team? How should founders determine whether they need a growth leader or growth engineers in the early days? What is the core question founders need to ask on network effects to answer this question? Should the growth team be incorporated into the product team?

3.) How does Andy structure the hiring process for growth hires? What does the structure of the interviews look like? How does Andy test for real depth with candidates? What case studies does he do to really understand their quality? Where do many go wrong with the interview process? What are Andy's biggest suggestions for how to optimise the process?

4.) What does the optimal onboarding process for new hires look like? What takes and processes should they complete in their first month? What are early signs of a poor candidate? How long should one give them if they are not performing? How does Andy approach structure post-mortems within the team? What is the ideal relationship between CEO and Head of Growth?
20VC: Thrive Capital's Kareem Zaki on The One Rule That Drives Investment Decision-Making and Focus at Thrive, Why Every Large Institution Will Enter Venture Capital Over the Next Decade and How To Create a Firm Culture That Attracts The Best Young Talent

15 november 2021 · 24 min
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Kareem Zaki is a General Partner @ Thrive Capital, with a portfolio including Stripe, Instacart, Instagram, Nubank, Github, Glossier and many more, they have cemented their position as one of the leading venture firms of the last decade. As for Kareem, he is a co-founder and board member to Cedar, Nava, Scope Security and Cadence and has invested in the likes of Affirm, Lemonade, Ramp and Trade Republic. Prior to entering venture, Kareem spent 3 years in private equity with Blackstone. Lees meer

In Today's Episode with Kareem Zaki You Will Learn:

1.) How Kareem made his way from the world of private equity to backing some of the most innovative next-generation companies with Thrive Capital?

2.) Portfolio Construction: What is the one rule that drives all decision-making at Thrive? How does Kareem think about maintaining focus with such a broad mandate? How do Thrive think about asset allocation internally with such a broad mandate? How does incubating companies also help Kareem be a better investor?

3.) Investing Style: How has Kareem's investing style changed over the last 10 years? What does he focus on now that he did not before and visa versa? How does Kareem assess his own relationship to price? Through what lens does Kareem approach market sizing and timing? Where do many investors make mistakes here?

4.) The Landscape: How does Kareem respond to the activity and cadence of Tiger? In what way does Kareem believe the venture landscape will have changed most significantly in the next 10 years? How do the existing incumbent firms need to change in the wake of this? How do Thrive respond to the pace and cadence of check writing today?

Item's Mentioned In Today's Episode with Kareem Zaki

Kareem's Favourite Book: How Will You Measure Your Life

Kareem's Most Recent Investment: Cadence
20VC: The Anduril Memo: Founders Fund's Brian Singerman on What Makes Palmer Luckey One of the Greatest Innovators in History, Why It Is BS The DOD Do Not Want To Work With Silicon Valley & Why in Venture You Have To Play A Different Game to the Hedge Fun

11 november 2021 · 28 min
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Brian Singerman is a General Partner @ Founders Fund, one of the most prominent venture firms of the last decade with a portfolio including Anduril, SpaceX, Tesla, Palantir, Stripe, Affirm, Airbnb, Facebook, and many more. As for Brian, he has led investments in the likes of Affirm, Oscar Health, Wish, Asana, Oculus, and Postmates to name a few. Brian also sits on the board or is an observer to The Long Term Stock Exchange, Solugen, Cloud9, Modern Health, and of course, Anduril. Prior to Founders Fund, Brian spent a very successful 4 years as an engineer and executive at Google. Lees meer

In Today's Episode with Brian Singerman on Anduril, You Will Learn:

1.) How did Brian first come to meet Palmer and the Anduril team? Where did the meeting take place? How did the discussion go? Did Brian instantly feel that Palmer was special? What about the way Palmer presented, suggested this to Brian?

2.) The Market: What gave Brian the confidence Anduril would be successful where so many others had failed? How did the market change or evolve in a way Brian did expect? In what ways did the market surprise Brian? Does Brian think we will see the relationship between Silicon Valley and the DOD change over time?

3.) Anduril: The Business: Why is Anduril as a business, so hard to copy? How did Brian gain comfort around their defensibility? What does Brian think is the biggest misconception people have of Anduril as a business? How does Brian think about when is the right time to add secondary and ancillary products?

4.) Investing Today: Why is Brian no longer Zoom investing today? What does Brian mean when he says you have to, "play a different game to the hedge funds today"? In what way does he and Founders Fund look to do this? How does Brian think about the current levels of pricing? How does he determine when to pay up vs when to be disciplined?
20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev

8 november 2021 · 40 min
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Arthur Patterson and Jim Swartz founded Accel in 1983. Under their leadership, they have built Accel into one of the most prominent venture firms of the last 4 decades. Lees meer

Starting with Arthur, as the lead investor, Arthur has helped management teams develop companies into market-defining leaders over an incredible four decades. Prior to co-founding Accel, Arthur was a General Partner of Adler & Company with his career in venture starting at Citicorp Venture Capital.

As for Jim, Jim has been the lead director of more than 50 successful companies. He was instrumental as a founder/mentor of Accel London and in the founding of Meritech Capital. Before Accel, Jim was the founding general partner of Adler & Company, which he started with Fred Adler in 1978 after his tenure as a vice president of Citicorp Venture Capital.

In Today's Episode with Arthur Patterson and Jim Swartz You Will Learn:

1.) How Arthur and Jim made their first entry into the world of venture capital in the 70's? What was the founding moment for them with Accel? Where did the first discussion happen? Did they align on strategy? Why did they decide to name the firm Accel?

2.) What did the venture ecosystem look like when Arthur and Jim founded Accel in 1983? Why does Arthur believe the specialist always beats the generalist? What was the hardest Accel fund to raise? Why was it the hardest to raise? When did the Accel brand hit an inflection point and fundraising became easier? Where do Arthur and Jim disagree on this?

3.) How do Jim and Arthur feel about the current frothiness of the venture market? Why does Jim believe we are entering a market correction? How do they feel about the inflation of asset value? Through what lens is now the same vs different to 1999/2000? What have been their biggest lessons from experiencing 5 macro booms and busts?

4.) How did Jim and Arthur think about when to expand with a new Accel product? What did Accel do specifically to make the expansion to London and India …
20VC Unscripted: Pricing is Crazy, Pre-Emptive Rounds are Normal, Pricing at 200x Revenue Multiple is Common, There is More Cash Than Ever. What Happens Next; Market Analysis with Ryan Denehy, Founder and CEO @ Electric

4 november 2021 · 35 min
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Ryan Denehy is the Founder & CEO @ Electric, the company that provides a modern IT solution that's simplified. To date, Ryan has raised over $188M for the company from the likes of GGV, Bessemer, Slack Fund, and 01 Advisors to name a few. As for Ryan, he is a 3x entrepreneur with his first company being acquired by USA TODAY Sports and his second company, Swarm Mobile being acquired by Groupon in 2014. Lees meer

In Today's Episode with Ryan Denehy You Will Learn:

1.) How Ryan made his way into the world of startups with his first startup being acquired when he was still in college? How have experiences raising $180M with Electric, impacted how he thinks about the venture market today?

2.) Is Ryan concerned by the lack of due diligence investors are doing today? How has the DD process changed over the years? What materials should founders provide to investors? How should founders reference check investors? What do many founders do wrong here?

3.) Should founders always take the most money at the highest price? When thinking about price, what do you founders have to think through? Why are some of the prices we are seeing today so crazy? How can founders outcome scenario plan to come to the best price option? When are founders and investors misaligned when it comes to price?

4.) What does Ryan mean when he says, "sales and product-market fit are more closely related than people think"? How does Ryan advise founders on when to really raise big? Does Ryan believe in the notion of "skipping a round"? Does this ever happen? Does Ryan ever believe the "this will be our last round before we breakeven" statement?
20VC: Mac the VC on the Journey from Homeless To Becoming A VC, What It Takes To Raise a Fund on Twitter, Why the Venture World is F***** Up and How Institutional LPs Need To Change

1 november 2021 · 38 min
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McKeever "Mac" Conwell II is the founder and managing partner of RareBreed Ventures, a pre-seed fund that invests outside of large tech ecosystems, with a concentrated portfolio approach being the first check with up to $250K. Mac's journey into venture is nothing short of inspirational, Mac went from being homeless to being an engineer to founding his own companies to today, raising Rarebreed largely on Twitter. Lees meer

In Today's Episode with Mac the VC You Will Learn:

1.) How Mac went from being homeless to becoming an engineer and starting his own company? How did his time operating lead to his becoming a VC and building his Twitter brand?

2.) What are the biggest ways that venture is messed up today? Why does Mac believe it does not matter about getting into hot deals? Why does Mac believe that the brand of the VC that does your round does not matter? Does Mac see the leading venture brands investing outside SF and NYC? What elements of an investment compel them more than others?

3.) In the wake of the George Floyd event, who does Mac note did not say anything? How does Mac want to see diversity introduced at the institutional LP level? What does Mac believe institutional LPs care about? What can institutional LPs do structurally to allow themselves to invest in the next generation of emerging managers?

4.) Why does Mac not like AngelList Rolling Funds? How did he structure his fund in a creative way? How does Mac feel about the requirements for GP commits? How did Mac use Twitter very specifically to raise his fund? Which people went out of their way to help him? What were some of the biggest takeaways from those discussions?

Item's Mentioned In Today's Episode with Mac the VC

Mac's Favourite Book: Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire
20 Growth: The 3 Levers to Successful Growth Models, The 3 Types of Growth Hires Startups Need To Know, The 3 Stages All Successful Growth Teams Need To Go Through with Elena Verna, Advisor @ MongoDB and HP

28 oktober 2021 · 44 min
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Elena Verna is a master when it comes to all things starting and scaling growth organizations. Previously, Elena spent over 7 years as SVP Growth @ SurveyMonkey where she ran product, growth marketing, and data teams. Post SurveyMonkey, Elena worked with the rocket ship that is Miro both as Interim CMO and as an advisor. Elena has also advised some of the best growth orgs with advisor roles at HP, MongoDB, Netlify, Maze, and many more awesome companies. Lees meer

In Today's Episode with Elena Verna You Will Learn:

1.) How Elena made her way into the world of tech and growth from a Craiglist job listing? What was her big break in the world of growth with her first Head of Growth role?

2.) How does Elena define "growth" and "Head of Growth"? When should startups not have a growth team? What are the 3 main levers to the growth model today? How does Elena advise between hiring a CMO vs Head of Growth? Where do many founders make mistakes with this decision in mind?

3.) Who are the wrong people to hire for your growth team? What characteristics and traits do these people have that make them bad for growth? What questions does Elena ask in interviews to determine if they have these traits? How does Elena advise founders structure the process of hiring their "Head of Growth"? Should it be internal promotion or external hire?

4.) Where do most founders go wrong in the onboarding phase of their growth team? What do you have to have in place before the growth team starts? What are the biggest red flags for founders when reviewing their growth teams in the first 3 months? Why does Elena not like post-mortems? What is the optimal relationship between CEO and Head of Growth?

5.) How can growth teams work most effectively with both product and engineering teams? How do they need to communicate to ensure a healthy relationship? Where do growth teams most often make mistakes here? What have been some of Elena's lessons on how growth can experiment without angering engineering teams?
20VC: Deliveroo Founder Will Shu on The IPO This Year, The Rise of Quick Commerce and The Fierce Competition with Uber Eats

25 oktober 2021 · 41 min
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Will Shu is the Founder & CEO @ Deliveroo, the company that provides your favorite restaurants and takeaways, delivered to your door. Prior to their IPO earlier this year, Will raised over $1.7BN for the company from some of the best including Accel, Index, General Catalyst, Greenoaks, and more. Before Deliveroo, Will worked in finance as an analyst with SAC Capital, ESO Capital, and Morgan Stanley in New York and London. Fun fact, Will still enjoys regularly delivering food orders on his bike. Lees meer

In Today's Episode with Will Shu You Will Learn:

1.) How Will made his way from hedge funds and Morgan Stanley to changing the world of food and delivery with Deliveroo? Why did Deliveroo not work the first time Will started it?

2.) Restaurant + Customer Acquisition: How did Will acquire the first restaurants to the platform? What did that education process look like for them? What do the restaurants care about? How did Will acquire the first customers? How has that changed over time? What matters to customers; speed, selection or price? How does this change by geography and country?

3.) New Markets: How do Deliveroo select new markets to enter? What makes one more attractive than another? From a resource perspective, what does it take to open a new market? What have been some of the biggest lessons on zone maturity and time to breakeven? Why does Deliveroo not track driver efficiency on a number of drops basis? What is the right mechanism to measure driver efficiency?

4.) Competition: How did Deliveroo come late to markets like France and end up winning them? What was it like competing against Uber with Eats? How important is restaurant exclusivity to Deliveroo retaining its position? What would Will have done differently with regards to competition, with the benefit of hindsight?

5.) Quick commerce: What does Will make of the unprecedented rise of quick commerce? Will we see many winners on a per market basis or will this be a consolidatory environment? What do many …
20VC: Breaking News: Ankur Nagpal Raises $70M for Vibe Capital, What The Next Decade For Venture Will Look Like, Do VCs Actually Add Any Value & Pre-Emptive Rounds, When To Take Them and When To Reject Them

20 oktober 2021 · 37 min
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Ankur Nagpal is the Founding Partner @ Vibe Capital, today announcing his new $70M solo GP fund and with a track record that includes the likes of Roam Research, Eight Sleep, Circle, Hone Health and Maven to name a few. Prior to entering venture, Ankur was the Founder and CEO @ Teachable, a platform where educators can create and sell their own online courses. Ankur led the company until their reported $250M acquisition to Hotmart in 2020. Lees meer

In Today's Episode with Ankur Nagpal You Will Learn:

1.) How Ankur made his way into the world of venture investing having founded and exited Teachable for over $250M having raised just $13M in venture funding?

2.) From Angel to Fund: How did Ankur's mindset change with the transition from angel to institutional VC? How does Ankur feel about the rise of party rounds? What does Ankur advise founders trying to get brand names on cap tables?

3.) Portfolio Construction: With the new fund, how does Ankur think through portfolio construction? What is his required level of ownership? How does Ankur feel about optionality checks to get data and information for a larger check down the road? Does Ankur feel it is possible to build ownership in your best companies?

4.) The Future of Venture: Why does Ankur feel that largely, VCs detract value when they invest in a company? Base level, what is Ankur's promise to founders he invests in? From his time as a founder, what does founders most want in their cap table? Will we see a generation of operator-led funds? Will this be a game of the 1%? How will the large funds respond to this?

5.) Emerging Markets: What are the 3 core characteristics that make emerging markets so attractive for Ankur? What elements concern Ankur when investing in emerging markets? How does he screen for integrity with more granularity? How does Ankur analyse the progression of emerging markets in terms of their own hype cycles?

Item's Mentioned In Today's Episode with Ankur Nagpal

Ankur's Favourite Book: Losing my…
20VC: Instacart CEO Fidji Simo on Why You Need Sponsors Not Mentors, Where Management Skills Align with Good Parenting & The First 100 Days as CEO at Instacart; The Challenges, The Surprises and The Next Chapter

18 oktober 2021 · 37 min
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Fidji Simo is the CEO @ Instacart, the company that allows you to order whatever you want from local stores, delivering it straight to your door. Fidji joined the Instacart board 10 months ago and just 3 months ago, Fidji joined Instacart full time as CEO. Prior to Instacart, Fidji spent an incredible 10 years at Facebook in numerous different roles including Head of Facebook App and before that Vice President of Games, Video and Monetisation. If this was not enough, Fidji earlier this year announced her co-founding of Metrodora, an integrated medical ecosystem with the vision of advancing women's health. Lees meer

In Today's Episode with Fidji Simo You Will Learn:

1.) How Fidji made her way from a small coastal fishing town in France to leading the Facebook App and becoming one of the most powerful CEOs in tech with her new role at Instacart?

2.) The Rise @ Facebook: How did Fidji rise in the ranks at Facebook so much faster than anyone else? What were the biggest inflection points in her rise? What bets did she make that others did not see? How did they play out? Did any of the bets go wrong? What did Fidji learn about management style when the bet went wrong?

3.) Problem Solving and Decision-Making: What framework does Fidji use to have the most effective problem-solving and decision-making process? How does Fidji built such tight trust and honesty with her team members? In what way can leaders make people feel safe to take big bets but also not lose accountability if it does not work out?

4.) The Move To Instacart: Why did Fidji decide that CEO of Instacart was the right next move for her? What was Fidji's hypothesis of how the first 100 days would go? What has been a surprise in the first 100 days? How do the best leaders onboard into new CEO roles? How does the role of CEO change when moving from private to public company?

Item's Mentioned In Today's Episode with Fidji Simo

Fidji's Favourite Book: The Night Circus
20VC: Crowdstrike Founder, George Kurtz on Scaling to a $60Bn Market Cap, How to Acquire and Retain the World's Best Talent & The Right Way to View Competition in Today's Market?

14 oktober 2021 · 32 min
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George Kurtz is the CEO and co-founder of CrowdStrike, a leading provider of next-generation endpoint protection, threat intelligence, and services. Prior to Crowdstrike's incredibly successful IPO in 2019, George raised funding from the likes of Accel, General Atlantic, CapitalG, IVP and Warburg Pincus to name a few. Before founding Crowdstrike, George spent close to 7 years at McAfee in roles such as Worldwide Chief Technology Officer and GM as well as EVP of Enterprise. Finally, before McAfee, George started Foundstone in 1999 leading them very successfully to their acquisition by McAfee in 2004. Lees meer

In Today's Episode with George Kurtz You Will Learn:

1.) How George came to found Crowdstrike having been Worldwide CTO @ McAfee? How did the founding of his prior companies impact how George thought about the early days of Crowdstrike? What does George believe are the pros and cons of serial entrepreneurship?

2.) Funding: With the benefit of hindsight, how does George reflect on his approach to fundraising? How did what George needed from VCs change over time? How does George approach investor selection? Through what framework does George advise founders as the right way to construct their cap table? Where do many go wrong on investor selection?

3.) Talent Acquisition: What has enabled George to hire some of the best talent in the world? What is the right way to construct the hiring process to recruit the best? What does George mean when he says, "you cannot forget the spouse factor"? Why is cash a moat and important when it comes to talent acquisition?

4.) Leadership: How has George's style of leadership changed over time? What stage of leadership did George find the most challenging? How does George find being a public markets CEO? What elements does he enjoy the most? What does he enjoy the least? Why does George believe the company has been so well received by public markets?

Item's Mentioned In Today's Episode with George Kurtz

George's Favourite Book: Good…
20VC: Chris Sacca on Coming Out of Retirement To Unf**k The Planet with Lowercarbon, How Chris Evaluates His Relationship To Money Today, Why We Have Bred a Generation of Ass**** Kids, Do VCs Provide Any Real Value and The True Unfiltered Opinion on Faceb

11 oktober 2021 · 1 uur 16 min
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Chris Sacca is the Founder and Chairman @ Lowercase Capital, one of the best performing funds in the history of venture capital with a portfolio including Uber, Stripe, Twitter, Instagram, Twilio, Docker and many more. Despite this incredible success, in 2017, Chris and his wife, Crystal announced they would be stepping back from day to day investing to focus on ongoing efforts to rescue our democracy, heal the planet, promote diversity within venture capital. Earlier this year, they announced Lowercarbon Capital, with $800M AUM, with the mission to back companies that make real money slashing CO2 emissions, and buying us time to unf**k the planet. Fun fact: As a result of his incredible investing success Chris has also been a Shark on Shark Tank and even starred in an episode of Billions. Lees meer

In Today's Episode with Chris Sacca You Will Learn:

1.) How Chris made his way into the world of investing having started life as a lawyer? What was his first investment? How did the first Twitter $25K angel check come about?

2.) How does Chris evaluate his own relationship to money and wealth? Why did Chris and Crystal interview some of the wealthiest people? What did they learn from those discussions? How does Chris view the role of luck? Why was it when Chris lacked optimism he lost the most money? How did being $4M in the hole from public markets impact his mindset?

3.) What does it mean for Chris to bring up healthy and happy children? Why does Chris believe today's parenting has bred a generation of asshole kids? In what way is great parenting aligned to great team management? How does Chris give feedback to his teams vs his children? What tone should be used? Should it always be "radical candor"? Should it be immediate?

4.) Does Chris believe that VCs really add any value? What does Chris believe is his secret sauce? Why does Chris believe that as a VC you have to be outspoken and loud about the value you provide? What have been some of the biggest lessons for Chris f…
20VC: Squarespace Founder, Anthony Casalena on Scaling Squarespace from Dorm Room To Public Company with over $700M in ARR, The Decision to Direct List over Traditional IPO or SPAC & What Changes When You Go Public?

8 oktober 2021 · 34 min
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Anthony Casalena is the Founder & CEO @ Squarespace, the company that allows you to create a website, sell anything and market your business. To date, Anthony has raised over $948M for the company from the likes of General Atlantic, Index Ventures, Tiger Global; culminating in their IPO in May 2021. Despite the incredible size and scale of Squarespace today, Anthony started the company from his dorm room in 2003 and bootstrapped the business for many years to today with over 1,100 employees around the world. Lees meer

In Today's Episode with Anthony Casalena You Will Learn:

1.) How Anthony came to start Squarespace from a dorm room and turn it into a public company with over 1,200 employees globally?

2.) Why did Anthony decide to bootstrap with Squarespace for over 6 years when the company was scaling fast and profitable? How was Anthony's mindset impacted by the efficiency of bootstrap scaling? How did Anthony's mindset change when Squarespace raised their first large round? How does Anthony advise founders today on raising venture vs bootstrapping?

3.) Why did Anthony decide to do the direct listing over the more traditional IPO or a SPAC? How does Anthony advise other founders contemplating the same exit choices? How does Anthony personally describe this chapter of the company? Does he enjoy being a public company CEO? What are the best elements? What are the worst?

4.) E-Commerce has been a massive driver for growth for Squarespace, how does Anthony feel about the future of e-commerce on Squarespace? Only 1% of Squarespace's $700M ARR comes from enterprise, does enterprise hold a meaningful position in the future of the company? What are the core challenges of moving into enterprise? How does the company need to change?

5.) With the growth of the company, how has Anthony changed his style of leadership? What are his biggest strengths? What are his biggest weaknesses? What are the most obvious breakpoints in the scaling of companies?

Item's Mentioned In Today's Epi…
20VC: The Two Largest Changes in the Investing Market Today, Why The Scarce Resource in Venture is Access & Why Investors Are Acting Mostly Rational and Upside Scenario Planning Needs To Change with Anton Levy, Co-President @ General Atlantic

5 oktober 2021 · 45 min
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Anton Levy is Co-President, Managing Director and Global Head of General Atlantic's Technology sector. Anton has led General Atlantic's investments in the likes of Alibaba, CrowdStrike, Facebook, Slack and Snapchat and co-led investments in Adyen and Bytedance. As a result, Anton has been named to the Forbes Midas List of top investors each year from 2014 to 2021. Anton has also enjoyed board positions either as a member or observer in companies such as Uber, MercadoLibre, Klarna and Meituan to name a few. Lees meer

In Today's Episode with Anton Levy You Will Learn:

1.) How Anton made his way into the world of growth investing? What have been some of Anton's biggest lessons from seeing the booms and busts of the macro-environment?

2.) The Landscape: What does Anton believe are the two largest changes/trends in the venture landscape today? What does Anton think is the right way to respond to the threat of Tiger Global? How should founders think about active vs passive cash? How does Anton reflect on his own price sensitivity? What have been some of his biggest lessons on pricing?

3.) Portfolio Construction: How have GA had to change their approach to investing over the last few years? Why have they decided actively to move earlier and write smaller checks? How does a $50M investment from an $8BN impact portfolio construction thinking? How does GA determine which of their winners to size up into and write a $500M check? What is the process for that?

4.) Deployment Cycles: How does Anton think about the compression of deployment cycles in venture? Are people acting rationally? When will the bubble burst? How do interest rates impact capital inflows into venture? Why does Anton believe we are entering a golden age of innovation? What elements concern him?

5.) Culture- Building: What have been Anton's biggest lessons when it comes to culture building internally? Where do many make mistakes here? What have been the most surprising elements of scaling GA to Anton? What mistak…
20VC: The Opendoor Memo: Keith Rabois on The Origins of Opendoor from a Conversation with Peter Thiel, Why Cash is Not a Competitive Moat for Startups Today and What People Misunderstand About Black Swan Events in Real Estate and How it Impacts Opendoor

30 september 2021 · 37 min
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Keith Rabois is a General Partner @ Founders Fund, one of the most successful venture firms of the last decade with home runs in the likes of SpaceX, Palantir, Stripe, Anduril, Facebook, Airbnb, Nubank and many more. As for Keith, he led the first institutional investments in DoorDash, Affirm and has also led investments in Ramp, Trade Republic, Faire and Stripe. Prior to venture, Keith had the most stellar operating career, joining PayPal when their monthly burn-rate was $6 million; Keith joined LinkedIn, Slide and Square when they had no revenue. Fun fact, five companies Keith helped build are now publicly traded with market caps >$1 Billion. Three others have been acquired for greater than $1 Billion or are publicly traded IPOs. If that was not enough, Keith is also the Co-Founder and CEO @ OpenStore, acquiring small DTC businesses. Lees meer

In Today's Episode with Keith Rabois You Will Learn:

1.) How Keith first came up with the idea for Opendoor? How a conversation with Peter Thiel led to the founding of the first iteration of the company? Why did it take Keith close to a decade to pursue the idea fully, post having the idea in 2003?

2.) The Market: What made Keith so excited to pursue Opendoor from a top-down market analysis perspective? What does Keith look for in markets he likes to invest in? How did Keith expect the market to change and evolve? What did the market do differently to how Keith thought it would behave?

3.) The Business Model: With debt being the oxygen for Opendoor, how many homes did they need to acquire before they could prove they could price homes accurately? What were Keith's lessons from the first homes they bought? What did not go to plan? Why does Keith disagree, if macro hits real estate, Opendoor's model is challenged? Why does Keith believe it is stronger then?

4.) The Team: What does Keith look for in the founding teams he backs? How does Keith detect diamonds in the rough? How can teams systematically de-risk an opportunity with the…
20VC: The Rise of Quick Commerce and Why CPGs ARe Misaligned Being Powered By Ad Spend, The 5 Core Components Consumers Care About When Ordering Today & Why Amazon and Alibaba Will Not Be The Big Players in 10 Years with Ralf Wenzel, Founder & CEO @ JOKR

27 september 2021 · 38 min
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Ralf Wenzel is the Founder & CEO @ JOKR, a global platform for instant retail delivery at a hyper-local scale. To date, Ralf has raised over $170M for the company from the likes of GGV Capital, Balderton, Softbank and Kaszek, just to name a few. Prior to JOKR, Ralf spent close to 7 years as the Founder & CEO @ foodpanda as well as enjoying roles as Chief Strategy Officer @ Delivery Hero, Interim Chief Product and Experience Officer @ WeWork and even moving to the other side of the table as a Managing Partner with Softbank. Lees meer

In Today's Episode with Ralf Wenzel You Will Learn:

1.) How Ralf made his way into the world of startups and came to found foodpanda? What were his biggest takeaways from foodpanda that have impacted how he thinks about scaling JOKR today?

2.) Fulfillment Centres: What are the selection criteria when deciding what is the right location for a fulfillment center? How does real estate cost differ when comparing LATAM to the US? How does Ralf think about the balance between consumer choice and SKU minimization? In what way does Ralf believe they have a moat due to their catalog management system?

3.) The Driver: Why is JOKR different to every other provider in the way they employ their riders? Does it not severely impact their margins by providing equal benefits across their entire rider workforce? How many drops per hour is a good level of driver efficiency? What have been Ralf's biggest lessons when it comes to driver retention?

4.) The Consumer: How did JOKR acquire their first consumers on the demand side? What marketing strategies worked? What did not work? Is Ralf concerned by the immense amount of money invested in the space driving customer acquisition prices way higher? How has Ralf seen CACs change over time in mature markets?

5.) Expansion Opportunities: How does Ralf feel about incorporating own brand products, produced by JOKR over time? How does this change the margin profile of the business? How does Ralf feel about paid search a…
Welcome 20Growth: How To Hire a Head of Growth? What are Signs of World-Class Talent? How To Structure the Process? How To Onboard Growth Teams? The Relationship Between Head of Growth and CEO and more with Casey Winters, Chief Product Officer @ Eventbrit

22 september 2021 · 43 min
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Casey Winters is the Chief Product Officer at Eventbrite where he leads the PM, product design, research, and growth marketing teams. Prior to Eventbrite, Casey spent close to 3 years at Pinterest where he led the growth product team. At Pinterest, Casey turned SEO into a scalable acquisition strategy, increasing conversion to signups 5x. Before Pinterest, Casey started the marketing team at Grubhub and scaled Grubhub's demand-side acquisition and retention strategies. Casey played an instrumental role in scaling Grubhub from 3 cities to 1,000+ and from a $1 million series A to an IPO and $7.3 billion exit. If that was not enough, Casey has also advised the likes of Canva, Hipcamp, Reddit, Faire and Career Karma to name a few. Lees meer

In Today's Episode with Casey Winters You Will Learn:

1.) How Casey made his way into the world of startups and came to lead some of the most powerful growth orgs in the world from Pinterest to Grubhub to Eventbrite?

2.) How does Casey define "growth" and "Head of Growth"? When is the right time to start thinking about implementing a growth team? When should one hire a growth leader? How should founders structure the process of hiring a Head of Growth? What do the stages look like? What signals suggest A* talent? What questions does Casey always ask? What tests does Casey do?

3.) What does the optimal onboarding process look like for growth teams? What tasks should a growth team perform in their first few months? What are clear signs you have an amazing candidate in place? What are some obvious red flags? How do the best growth teams approach post-mortems? How are they structured? Who attends them? How often?

4.) What is the ideal relationship between the Head of Growth and the CEO? How often do they meet? What do the best CEOs expect from their growth teams? How does Casey approach the relationship between growth teams and product teams? How does one know when to have an independent growth team vs within the product or marketing team?

…
20VC: Investing Lessons From Rounds In Peloton and Square, Why Great Investing is Stock-Picking and Sector Penetration & The Next Decade in Venture, Is Tiger's The Right Model with Hans Tung, Managing Partner @ GGV Capital

20 september 2021 · 39 min
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Hans Tung is a Managing Partner at GGV Capital, one of the leading venture firms of the last 2 decades with a portfolio including Alibaba, Xiaomi, Peloton, Airbnb, Slack, and many more. As for Hans, he has been named to the Forbes Midas list nine consecutive years from 2013-2021, most recently ranking #3. His portfolio includes 18 unicorns including Affirm, Airbnb, Coinbase, Divvy Homes, Peloton, Poshmark, Slack, Wish and Xiaomi. In 2005, he was among the first Silicon Valley VCs to move to China full time, spending eight years investing in the fastest-changing tech landscape in the world before returning to Silicon Valley in 2013 to join GGV Capital. Lees meer

In Today's Episode with Hans Tung You Will Learn:

1.) How Hans made his way into the world of venture from founding his first two companies? How did seeing the booms and busts of the macro-financial markets impact both his investing mindset and the companies he likes to back?

2.) The Landscape: How does Hans analyze the current venture landscape today? How does one compete in a world of Tiger and crossover funds writing term sheets post first meeting? How does Hans think about his own price sensitivity today? How does he determine when to pay up vs when to say no? What have been some of his biggest lessons on price?

3.) Working with the likes of Peloton, Square, Alibaba, what have been some of Hans biggest lessons on market size? What do most investors get wrong when it comes to market sizing? How does Hans think about an attractive enough exit multiple for a growth stage check? What did Peloton teach Hans about insertion points when investing?

4.) How does Hans think about when is the right time to sell? What have been some of his biggest lessons on taking cash off the table? Despite the success, how does Hans ensure he has the mental plasticity to approach every new deal with a fresh perspective? What does he do to ensure he does not have an unconscious bias from his past successes?

Item's Mentioned In Today's…
20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022

16 september 2021 · 43 min
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Nazim Salur is the Founder & CEO of Getir, one of the leading rapid delivery service providers that distribute over 1,500 everyday items within minutes. With an established status in Turkey, where the company trends towards a super-app, and a London launch behind it, Getir has further European and US expansion plans on the horizon. To fuel this expansion, Getir has raised over $1BN from Sequoia and Mike Moritz, Silver Lake, Mubadala, and Tiger Global to name a few. Prior to founding Getir, Nazim launched his first tech startup in 2012, BiTaksi, which brought people taxis in three minutes. Lees meer

In Today's Episode with Nazim Salur You Will Learn:

1.) How Nazim made his way into the world of startups with his founding of BiTaksi and how that led to his realization of the need for Getir?

2.) Why does Nazim believe that owning the entire vertical stack is a superior model? What are the selection criteria for the micro-fulfillment sites? What makes one more attractive than another? How does Getir think about the balance between SKU minimization and consumer demand? How does Getir think about building defensibility through their warehouse management system?

3.) How did Getir acquire their first drivers? What worked? What did not work? How does their driver acquisition strategy change depending on location? What is the core measurement that Getir uses to measure driver efficiency? What is the secret to driver retention? How has Nazim seen driver acquisition costs change over time in mature markets?

4.) How did Getir acquire their first customers? What is the most important element for consumers; speed or choice? How does Getir think about allocating marketing spend efficiently today? How has Nazim seen CACs change over time with the maturation of markets? With the immense funding for the space, is Nazim concerned about this?

5.) What are the decision-making criteria for what makes an attractive region to expand into? How much capital does it take to launch a new region? W…
20VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity

14 september 2021 · 49 min
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Doug Leone is the Global Managing Partner @ Sequoia Capital, one of the world's most renowned and successful venture firms with a portfolio including the likes of Google, Airbnb, Whatsapp, Stripe, Zoom and many more. As for Doug, he joined Sequoia over 33 years ago and has led investments in Nubank, Meraki, ServiceNow and TradeRepublic to name a few. Lees meer

In Today's Episode with Doug Leone You Will Learn:

1.) How a 5PM Monday meeting with Don Valentine led to Doug joining Sequoia over 33 years ago? What did Don ask Doug in the meeting? What does Doug believe led Don to offer him his first role at Sequoia?

2.) The Leader: How did Doug change when he made the transition from a "COO" role to more of a "CEO" role with Sequoia? Doug has previously said, "Sequoia is a team, not a family". What does he mean by this? How do Doug and Sequoia do to give the team an unwavering sense of duty to the Sequoia brand? What does Doug believe Sequoia have done so well to allow them to move seamlessly from generation to generation?

3.) The Investor: Doug's first 3 investments all went on to successful IPOs, how did this impact his mindset at the time? What does Doug mean when he discusses "the abyss" he went through post this time? How does Doug advise others going through the abyss? What are the signs certain people will make it through vs not?

4.) The Landscape Today: How does Doug think about and react to newer entrants like Tiger and Softbank? How does Doug think about and assess his own price sensitivity today? How does Doug determine when to be disciplined vs when to pay up? Through what lens does Doug assess the compression of deployment cycles in venture today? Should we "play the game on the field"?

5.) The Expansion: In 2005, Sequoia expanded to China. Why was this the right time? What was the decision-making process for the Sequoia China team? Why does Doug believe, "when you lose pre-seed, you become private equity"? How does Doug react to the notion that success in ventu…
20VC: The Crowdstrike Memo: Accel's Sameer Gandhi on Leading Multiple Internal Rounds for Crowdstrike, Telling George Kurtz to Go Shop His Term Sheet, How To Think Through Market Sizing & The Importance of Speed of Execution and Knowing When To Go Slow To

2 september 2021 · 37 min
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Sameer Gandhi is a Partner @ Accel, one of the leading venture firms of the last decade with a portfolio including the likes of Facebook, Dropbox, Atlassian, Hopin, Spotify and more. As for Sameer, he led investments in Crowdstrike, Dropbox, Flipkart, Spotify and more. Prior to Accel, Sameer spent close to 10 years as a Partner @ Sequoia. Lees meer

In Today's Episode with Sameer Gandhi You Will Learn:

1.) How Sameer first came to meet George, Crowdstrike Founder and CEO? How did a 30-minute meeting turn into a 2-hour discussion leading to Accel's investment?

2.)The Market: How did Sameer analyze and break down the market at the time of the investment? What hypothesis did he have on market evolution going in? What elements went as thought? In what way did the market evolve in a way Sameer did not expect? How does Sameer think through market timing today? Through what approach does Sameer assess market sizing today?

3.) Financing: How did Sameer build the confidence to lead multiple rounds of financing, one after the other? How did Sameer build the trust and strength of relationship with George to win each round? Why did Sameer advise George to "go shop his term sheet"? What was the rationale? How does Sameer advise founders on taking pre-emptive rounds today?

4.) Execution: What specifically allowed Crowdstrike to move so fast in the early days? Does Sameer believe that speed of execution is the strongest moat a company can have? How does Sameer advise companies today on services revenue? In what shape did this look with Crowdstrike in the early days? What is a healthy proportion of services to product revenue?

5.) The Team: How did George evolve and develop as a leader in the decade Sameer worked with him? What were some of the core inflection points that caused those changes? Who are some of the unsung heroes behind the scenes who moved the needle for Crowdstrike? What is Sameer's favorite memory from working with the company?

Item's Mentioned In Today's Episode with…
20VC: Marcelo Claure, CEO of Softbank Group International on Lessons From Investing $1BN Per Week with Masa Son, How Softbank Could Have Up To 8 Companies Go Public in LATAM Alone Next Year & How Softbank Analyse Both Deal Pricing and Competition Today

30 augustus 2021 · 39 min
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Marcelo Claure serves as CEO of SoftBank Group International and COO of SoftBank Group Corp., the world's largest tech investor. At Softbank, Marcelo oversees the company's strategic direction and its portfolio of operating companies, including WeWork, SB Energy, Fortress, Boston Dynamics, as well as SoftBank's stake in T-Mobile U.S. He also spearheads the SoftBank Latin America Fund, a $5 billion fund dedicated to investing in technology growth opportunities throughout the region. If that was not enough, Marcelo serves as Exec Chairman @ WeWork, is on the board of Arm, is the president of Club Bolívar, Bolivia's most popular and successful soccer team; co-owner and Chairman of Inter Miami CF and most recently co-owner of Girona FC. Lees meer

In Today's Episode with Marcelo Claure You Will Learn:

1.) How Marcelo made his way into the world of startups and came to found his first company, Brightstar? How did Brightstar lead to Marcelo meeting Masa and moving to Tokyo to invest $1BN per week with him?

2.) From spending a year with Masa in Tokyo, what did Marcelo learn about Masa that he did not know before? How did spending this time with Masa impact Marcelo's operating mindset and his investing mindset? What were the most memorable founder meetings that Marcelo and Masa had in that year? Why did those ones stand out?

3.) When starting Softbank's LATAM Fund, what hypothesis did Marcelo have going into investing in LATAM? Which were confirmed? On the flip side, which proved to be wrong? How does Marcelo respond to people that say "LATAM produces copycat companies"? Why does Marcelo bet that Softbank will have 8 portfolio companies in LATAM go public next year?

4.) How does Marcelo think about the importance of price and price discipline today? What is their decision-making framework when determining whether to pay up or not for a deal? What have been some of Marcelo's biggest misses? How did they impact his decision-making process moving forward? How does Softbank approach…
20VC: Has Price Discipline Disappeared? Is it Possible to Build Ownership Over Time? Why Venture Is Less Collaborative Now Than Ever? How fast Do Breakout Companies Become Obvious? How To Construct an Optimised and Repeatable Investment Decision-Making Pr

26 augustus 2021 · 55 min
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Frank Rotman is a founding partner of QED Investors, one of the leading fintech-focused venture firms investing today with a portfolio including the likes of Klarna, Kavak, Quinto Andar, Credit Karma and more. As for Frank, prior to QED, Frank was one of the earliest analysts hired into Capital One and spent almost 13 years there helping build many of the company's business units and operational areas. Post Capital One, Frank went on to found a student lending company before joining up again with Nigel Morris to co-found QED. Lees meer

In Today's Episode with Frank Rotman You Will Learn:

1.) How Frank made his way into the world of venture having spent 13 years scaling Capital One? What was the founding moment for Nigel and Frank with QED? How does Nigel compare to poker to venture capital? Where are they similar? Where are they different?

2.) Does Frank feel that price discipline has disappeared in the venture market today? What have been some of Frank's biggest lessons on price? Is Frank concerned by the compression in deployment timelines for funds? How does Frank feel on the rise of pre-emptive rounds? In what way does Frank advise his founders when they are offered pre-emptive rounds?

3.) How important does Frank believe sizing your initial position is, from an ownership perspective? Is it possible to build ownership in your winners? What have been some lessons for Frank with regards to the speed of which breakout companies are clear? How does Frank assess and analyse bridge rounds and whether to participate or not?

4.) Why does Frank believe that the VC world is less collaborative than ever today? What has caused this? What can VCs do to change this? How do we solve the structural problem of VCs needing ownership for their business and founders not wanting excessive dilution? What does Frank believe is the most dangerous trend in the VC market today?

5.) How does Frank think about what he can do to improve his investment decision-making process? What repeatable p…
20VC: Coinbase President & COO Emilie Choi on Building Coinbase Ventures into One of the Best Performing Funds with 0 Employees, How Coinbase Thinks Through Internal Resource Allocation and Prioritisation & Why, When and How To Hire Your COO and Head of C

23 augustus 2021 · 46 min
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Emilie Choi is the President and Chief Operating Officer @ Coinbase, the easiest place to buy and sell cryptocurrency. Prior to their IPO earlier this year, Coinbase raised funding from some of the best in the business including USV, a16z, Initialized and Ribbit to name a few. As for Emilie, before Coinbase she was Head of Corporate Development for @ LinkedIn and before Linkedin served in various positions at Warner Bros., including as Manager of Corporate Business Development and Strategy. If that was not enough, Emilie currently serves on the board of Naspers and ZipRecruiter. Lees meer

In Today's Episode with Emilie Choi You Will Learn:

1.) How Emilie made her way into the world of startups, came to lead Corp Dev @ Linkedin and how that led to her joining forces with Brian @ Coinbase as COO & President? What lessons did Emilie learn from Reid Hoffman and Jeff Weiner that she has taken with her to Coinbase?

2.) Corp-Dev Guide: Why are so many startups trying to hire Head of Corp Devs today? What are the signals that suggest now is the right time? How would Emilie structure the process of hiring a Head of Corp Dev? What questions should be asked? How can you test their skills? What mistakes do CEOs often make when hiring Head of Corp Devs?

3.) COO Guide: What does the role of COO really mean to Emilie? How does Emilie advise founders on whether they do actually need a COO? How would Emilie structure the process of hiring a COO? What are some common red flags that concern Emilie when hiring COO's? What is the right relationship between CEO and COO?

4.) Resource Allocation: How does Coinbase think about internal resource allocation between core product and their venture products? What was the thinking behind Coinbase Ventures? Why do they have no full-time staff? What is the core objective of the fund? Why does Emilie think it will be one of the best performing funds in venture?

Item's Mentioned In Today's Episode with Emilie Choi

Emilie's Favourite Book: The Secret Hi…
20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?

19 augustus 2021 · 38 min
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Angela Strange is a General Partner at Andreessen Horowitz, one of the leading venture firms of the last decade with a portfolio including the likes of Facebook, Github, Slack, Airbnb, Asana and more. As for Angela, she largely focuses on investments in financial services and a16z has made significant investments in LATAM in the likes of Loft, Jeeves, Pomelo and Addi to name a few. Prior to a16z, Angela was a product manager at Google where she launched and grew Chrome for Android and Chrome for iOS into two of Google's most successful mobile products. Lees meer

In Today's Episode with Angela Strange You Will Learn:

1.) How Angela made her way into the world of venture from a career of running marathons and product management at Google?

2.) Does Angela believe we are going to see regional winners in LATAM with players owning their segment for Argentina, Mexico, Brazil etc? Why does Angela believe there is a huge business to be had in catering to the unbanked? How does Angela analyze whether startups can acquire distribution before incumbents acquire innovation?

3.) How does Angela respond to the suggestion that LATAM merely produces copycat companies of Western alternatives? How does Angela respond to claims that there is a lack of viable exit opportunities with insufficient local public markets and few international acquirers in the region? Does Angela believe there is a sufficient depth of engineering talent in the region?

4.) What has been Angela's biggest miss? How did it change her investment process? How does Angela analyze TAM? Where does Angela think many make mistakes in their underwriting of market size? How has Angela learned to think through societal and behavioral changes that impact market timing (cash-based economies, COVID etc?)

Item's Mentioned In Today's Episode with Angela Strange

Angela's Favourite Book: More More Than You Know: Finding Financial Wisdom in Unconventional Places

Angela's Most Recent Investment: Jeeves
20VC LATAM: LATAM's Largest Fund, Kaszek Ventures on Scaling from $100M to $1BN, Why Capital is not a Source of Moat & Why LATAM is More Than Copycat Companies with Nicolas Szekasy, Co-Founder @ Kaszek Ventures

16 augustus 2021 · 38 min
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Nicolas Szekasy is a co-founder and Managing Partner of Kaszek Ventures, the largest venture capital firm in Latin America with a portfolio including the likes of Nubank, Notco, Creditas, Bitso and more. Before Kaszek, Nicolás was CFO for 10 years at MercadoLibre (Nasdaq: MELI), Latin America's largest online commerce and payments platform, where he led its $333 million IPO in 2007. Before MercadoLibre, Nico spent 7 years as CFO @ PepsiCo. If that was not enough, Nico is also on the board of Endeavour, empowering a global ecosystem of entrepreneurs. Lees meer

In Today's Episode with Nicolas Szekasy You Will Learn:

1.) How Nico made his way into the world of startups with MercadoLibre? What were the biggest takeaways from his 10 years with MELI? How did his time with MELI and seeing the boom and bust impact his investing mindset?

2.) What have been the most significant changes in the LATAM ecosystem over the last 20 years? What has improved? What has become more challenging? Is Nico concerned by the sheer amount of capital now flowing into the LATAM ecosystem at such speed?

3.) How does Nico respond to the statement that LATAM just produces "copycats" of successful companies from other geographies? How does Nico respond to the common suggestion of the challenges in scaling engineering teams in LATAM? How does Nico respond to the assumption that exit opportunities and IPOs are less available to LATAM companies?

4.) How was the experience of raising the first Kaszek fund? What has been the biggest challenging in the scaling from a $100M fund to a $1BN fund? How has Nico seen his own investing style change over the last decade? What does he know now that he wishes he had known when he started Kaszek?

5.) How does Nico reflect on his own style of board membership? What does Nico believe makes the best board members? What takeaways did he have from his time @ MELI on what makes the truly special board member?

Item's Mentioned In Today's Episode with Nicolas Szekasy

Nico's …
20VC: The Lyft Memo: Floodgate's Ann Miura Ko on Why Successful Seed Investing Is Not Investing In a Company But The Development of a Set of Secrets, Whether Capital Is a Defensible Moat Today &How Startups Should Approach Competition

12 augustus 2021 · 41 min
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Ann Miura Ko is the Co-Founding Partner @ Floodgate, one of the leading early-stage firms of the last decade with a portfolio including the likes of Twitter, Twitch, Lyft, Okta, Outreach and more. As for Ann, not only did she lead the round for Lyft but in the last 12 months has led rounds for 2 of the hottest companies in the valley; Popparazzi and Popshop Live. Due to her immense investing success, Ann is a multiple Forbes Midas Lister and is also a lecturer in entrepreneurship at Stanford, a co-director of the Mayfield Fellows Program at Stanford, and a member of the Board of Trustees for Yale University. Lees meer

In Today's Episode with Ann Miura Ko You Will Learn:

1.) How Ann made her way from a PhD in Quantitative Modelling at Stanford to co-founding one of the leading early-stage firms in the valley?

2.) What does Ann believe is the secret to successful seed investing? What insight development did Ann believe Lyft had? How had they approached customer development in such a unique way? What are the leading signals to Ann today that founders really understand the customer development process? What questions does she ask to discover this?

3.) Why does Ann not engage in the compression of fundraising timelines today? How does she build relationships of trust and honesty with founders so early? Does Ann worry that founders have such large capital injections too early today? Why should employees examine capital efficiency, not capital raised? How does Ann advise founders on pre-emptive rounds?

4.) How did Ann and the Lyft team approach prioritization in the early days? In what ways did Lyft decide to "play their own game" when it came to the competition? How did Uber and its growth impact the financing strategy for Lyft? In what deliberate ways did John and Logan set the culture for Lyft? What have been Ann's biggest lessons from them on culture building?

5.) Does Ann believe that capital in itself is a competitive moat today? What does Ann believe needs to be proven…
20VC: Mike Lazerow on Why How You Operate As a VC Is More Important Than Who You Are and What You Have Done, Why Boards Are More Important for the Entrepreneur than Investor & How The Best Entrepreneurs Prep Their Boards & Extract Value From Them

2 augustus 2021 · 46 min
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Mike Lazerow is a serial entrepreneur and now Co-Founder and Managing Partner @ Velvet Sea Ventures alongside his wife, Kass. Prior investments from the Velvet Sea Partners include Twitter, Square, SpaceX, Snap Inc., Facebook, Pinterest, Domo, and more. Prior to becoming an investor, Mike founded Buddy Media in 2007, selling the company to Salesforce just 5 years later for $745M. Before Buddy Media, Mike co-founded Golf.com, a multi-million dollar profitable golf media property that Mike and Kass sold to Time Inc in 2006. Lees meer

In Today's Episode with Mike Lazerow You Will Learn:

1.) How Mike made his way into the world of startups way back in 1993, how that led to Golf.com and Buddy Media? Why did he decide he wanted to be a VC? How did seeing the dotcom era fundamentally impact Mike's approach to business and investing?

2.) Why does Mike believe how you operate as an investor is more important than who you are and what you have done? How does Mike aim to invest and operate with this in mind? What are 3 core elements that Mike looks for in every deal? How does Mike approach his own investment decision-making process? How has it changed over time? How does he use gut to make decisions?

3.) What does Mike believe are his biggest insecurities as an investor? How does Mike think about the challenge of moving from a collaborative angel to a competitive VC? How does Mike think about the importance of ownership today? What has Mike learned about how the best VCs engage with round construction?

4.) How does Mike analyse his own style of board membership today? Why does Mike believe that boards are more helpful for the entrepreneur than for the investor? As an entrepreneur, how did Mike prepare for his boards? How does Mike advise founders to get the most out of their boards? Where do many make mistakes? How can one optimize the board member/founder relationship?

5.) Why does Mike believe that "having sex with your partner is a feature, not a bug"? How do Kass and Mike wor…
20VC: A Masterclass in Leadership and Scaling Companies: The Decisions only the CEO Can Make, The Secret To Talent Acquisition and Retention and How To Find The Unscalable Things that are Fundamental To Scale with Christa Quarles, CEO @ Corel Corporation

29 juli 2021 · 46 min
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Christa Quarles is the CEO @ Corel Corporation, building software solutions that simplify the task journey for knowledge workers. Prior to Corel, Christa spent close to 4 years as CEO @ Opendoor, driving a chapter of transformational change for the company. Before Opendoor, Christa was Chief Business Officer @ NextDoor, and finally pre-NextDoor, Christa spent 4 years at The Walt Disney Company where she led Disney Interactive to profitability as Senior Vice President, Interactive Games. If that was not enough, Christa is also on the board of Affirm and Kimberly Clark. Lees meer

In Today's Episode with Christa Quarles You Will Learn:

1.) How Christa made her way into the world of startups having spent close to 10 years in investment banking? What were the biggest takeaways from her time at Walt Disney? How did her 3 years as CEO @ Opentable impact how she approaches leadership today?

2.) Company Breakpoints: What are the different breakpoints in the scaling of companies? When did this start to happen at Opendoor? How does decision-making need to change with scale? How can leaders ensure teams feel safe to be the most ambitious they can be? In what ways can leaders create environments of safety for them to be their best selves?

3.) The Role of the CEO: What decisions can only the CEO make? How can leaders determine when a C-Suite hire is a stretch too far? How has Christa's board membership on other boards changed how she runs her board today? Given a board's limited information, how can leaders extract the most out of them?

4.) "Operating is a Full Contact Sport": When has Christa found operating and leading the hardest? When faced with hard times, how does she push through them? How does Christa advise leaders on the challenges of their own scaling process? Where do many make mistakes in their own scaling? What is a "stuck state" and why is it the worst state to be in?

5.) Team Building and Trust: How does Christa approach trust today? Does she start from a position of…
20VC: Ribbit Capital's Nick Shalek on How To Think Through Ownership and Price Sensitivity, When More Money and Pre-Emptive Rounds are Good vs Bad & Investing Lessons from Yale's David Swensen

26 juli 2021 · 37 min
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Nick Shalek is a General Partner @ Ribbit Capital, specializing in fintech they are one of the most successful venture firms of the last decade with a portfolio including Robinhood, Coinbase, Revolut, Nubank and more. As for Nick, he started his career as a Senior Analyst @ Yale Investments Office before moving to the world of operations as Director of Business Operations @ Verne Global, a provider of 100% carbon neutral data centers. Lees meer

In Today's Episode with Nick Shalek You Will Learn:

1.) How Nick made his way from Senior Analyst at Yale's Investment Office to be one of the leading fintech investors in the world with Ribbit? What were Nick's biggest lessons from his time working with David Swenson @ Yale? How would Nick summarise Yale's investment algorithm?

2.) Entering Venture and Advice: Why does Nick tell many friends entering venture, to not join a new fund? What does Nick believe is takes to build an enduring firm in venture? What were the core reasons and inflection points in the success of Ribbit? What have been some of the biggest challenges in the professionalisation of Ribbit over the years?

3.) Pricing and Ownership: Is Nick concerned by the levels of pricing we are seeing in fintech today? How does Nick analyze his own relationship to price? How does Nick view the importance of ownership? Is it possible to build ownership across rounds? How does Nick advise founders now receiving very fast offers to pre-empt their rounds?

4.) Investment Decision-Making: How does Ribbit structure its investment decision-making process for initial investments? In what way does this process change for re-investments? Why does Nick believe in the benefits of not having attribution within venture partnerships?

5.) AMA: What has been Nick's biggest miss? How did it change his investment decision-making process as a result? What does Nick know now that he wishes he had known when he started in venture? What have been Nick's biggest lessons from his working with Micky?
…
20VC: Jeff Immelt on Leadership Lessons from 16 Years as CEO @ GE, Incumbent Innovation; Why Some Have Failed and Other Succeeded, When Boards Have A Positive vs Negative Impact on a Company & The One Fear Startup Founders Are Allowed To Have

22 juli 2021 · 32 min
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Jeff Immelt is a Venture Partner @ NEA serving on both the technology and healthcare investing teams. Prior to entering the world of venture, Jeff served as chairman and CEO of GE for 16 years where he revamped the company's strategy, re-established market leadership and quadrupled emerging market revenue. As a result, Jeff has been named one of the "World's Best CEOs" three times by Barron's. In addition, Jeff is on the board of Sila Nanotechnologies and Twilio. Lees meer

In Today's Episode with Jeff Immelt You Will Learn:

1.) How did it feel when Jeff was told he was going to be CEO at GE? How did that come about? Did he feel the weight of responsibility when it was announced?

2.) When it comes to incumbents embracing innovation, what strategies work? Why do they work? What lessons does Jeff take from his time at GE on what worked? What strategies do not work? What are the biggest mistakes large incumbents make when adopting new products or strategies? What advice does Jeff continuously tell large company CEOs who ask this question?

3.) When does Jeff believe boards can be fundamentally impactful? In what circumstances do boards actually cause harm? What are the signs of the truly great board members? What are the causes of why board members can be misaligned with their founders? How should founders approach whether to listen or not to their board?

4.) How does Jeff think about trust in teams? Does he start fully trusting and it is their to be lost or start not trusting and it is their to be gained? What people do you want around you in a crisis? What are the signals of these people? What does Jeff mean when he speaks of "crisis accelerants and crisis absorbers"?

5.) How does David think about fear in leadership? What is the one thing that leaders are allowed to be afraid of? How do the best founders approach their relationship to paranoia? How do the best communicate their fears to their team?
20VC: a16z's David George on Leading a16z's Growth Fund Today, The Biggest Misconceptions of Growth Investing, How a16z Think Through Portfolio Construction, Investment Decision-Making and Scenario Planning & How The Entrance of New Players Has Changed Th

19 juli 2021 · 34 min
Afspelen

David George is a General Partner @ Andreessen Horowitz where he leads their growth investing practice. Since joining in 2019 David has invested in the likes of Clubhouse, Coinbase, Databricks, Figma, Instacart, Robinhood and TripActions just to name a few. David also sits on the board of Current, Greenlight, and Workrise. Prior to a16z, David spent 7 years growth investing at General Atlantic where he invested in the likes of Airbnb, Crowdstrike, Opendoor, Slack and Uber. Lees meer

In Today's Episode with David George You Will Learn:

1.) How David made his way into the world of growth investing with General Atlantic and how that led to his leading the newest iteration of a16z growth funds? What were David's biggest takeaways from his time with General Atlantic? How did it impact his investing?

2.) Misconceptions of Growth Investing: Why does David believe that great business models are table stakes at growth today? What gives the best the edge? Why does David believe that people over-rotate on TAM? Why is it misleading in many ways? What is the right way to assess TAM at growth today? What does David look for when digging into unit economics? When is the right time to focus on unit economics?

3.) Portfolio Construction and Scenario Planning: How does David think about portfolio construction with the new a16z growth fund? What is the right level of diversification? How does David think about loss ratio today? How does David approach outcome scenario planning? What is an attractive level of upside for David to engage at growth? How has that expectation changed over time?

4.) Valuations and Crossover Funds: How does David assess the valuation landscape today? How does David determine whether he will pay up or sit out on an investment? How has the rise of crossover funds, PE funds and hedge funds entering growth impacted the valuations being paid and the investment process itself? What does David make of these new entrants? What challenges do they bring?

5.) Investment De…
20VC's Therapist Thursday: We Are Not All Crushing It All The Time So Let's Stop Pretending, Working Through Challenges of Self-Worth and Self-Doubt & How To Find Joy in the Striving with Nick Mehta, CEO @ Gainsight

15 juli 2021 · 46 min
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Nick Mehta is the CEO @ Gainsight, the leader in all things customer success helping you put your customer at the heart of your business. Last year, as a result of their incredible success, Gainsight was acquired by Vista for a reported $1.1Bn but prior to that had raised over $156M from Lightspeed, Battery, Bessemer, Insight and Bain to name a few. As for Nick, he has been named one of the Top SaaS CEOs by the Software report three years in a row and holds one of the highest Glassdoor approval ratings for CEOs. Prior to Gainsight, Nick was the CEO at LiveOffice, which grew substantially and eventually sold to Symantec. Lees meer

In Today's Episode with Nick Mehta You Will Learn:

1.) When did mental health really become a prominent thought for Nick? When was the first time Nick feels he really showed true vulnerability in leadership?

2.) Self-Worth: Does Nick feel like he is enough? What does he do when he questions himself severely? How does he talk to his wife about these challenging thoughts? Where does Nick believe this comes from? What are the dangers of people-pleasing? How does Nick try and counter people-pleasing in his role as a leader?

3.) Identity: How does Nick think about his own identity when it is so attached to Gainsight? In what ways does he try to detach? What has worked? What has not worked? How have children helped Nick in this way?

4.) Striving: Why does Nick believe that hunger and striving are fundamentally a good thing? How does Nick try and factor gratitude and appreciation into the work and success he experiences? How does Nick encourage this same striving in his children?

5.) Relationship to Money: How would Nick evaluate his relationship to money? How has it changed over time? How does Nick try to imbue the same values he had growing up in his children? Does Nick believe it is possible to "change" your children and have that impact?
20VC: Jet.com's Marc Lore on How To Assess Human Potential and "The Resume Test", Why Chief People Officer Should be One of Your First Hires and Why We Need a New Type of Venture Capital

12 juli 2021 · 45 min
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Marc Lore is a serial entrepreneur turned investor who's started and sold four companies. Most recently Marc was the President and CEO of Walmart eCommerce US following the sale of his company, Jet.com, to Walmart for $3.3 billion in 2016. Prior to that, Marc founded Diapers.com/Quidsi which sold to Amazon in 2011 for $550 million. As an investor, Marc announced his new venture firm, Vision Capital People, with his co-founder, Alex Rodrigues, earlier this year with $50M of Alex and Marc's own money. Fun fact, in 1996 Marc qualified to be in the US national bobsled team. Lees meer

In Today's Episode with Marc Lore You Will Learn:

1.) How Marc made his way into the startup world, how he came to found Jet.com and what led to his most recent transition to the world of investing?

2.) How does Marc assess human potential? What does he mean when he says "the resume test"? What are the clearest signals of outperformers? What are signs of lack of performance? Why does Marc not believe in referencing? Does Mark start from a position of trust for it to be lost or with none and for it all to be gained?

3.) How does Marc evaluate his relationship to risk and fear? How has it changed over time? What did Marc's wife say when he left his safe job and put all their savings into his new business? What does Marc mean when he discusses finding "Sixth Gear"? How does Marc balance that intensity and ambition with romance and family life?

4.) Why does Marc believe Chief People Officer should be one of your first hires? What are the commonalities of the best Chief People Officers? What does the optimal relationship between CEO and CPO look like? How does Marc test for his core characteristics in interviews? What questions does he ask every candidate? What are the most revealing?

5.) How does Marc think about portfolio construction with the new fund today? Does Marc believe it is possible to take 40%+ of companies without alienating future investors? Is Marc concerned about over-capitalising c…
20VC: CapitalG's Laela Sturdy on The Current State of Growth with Crossover, PE and Hedge Funds All Entering, How To Think Through Upside and Downside Scenario Planning at Growth & The Biggest Challenges Startups Face Post Product-Market-Fit but Pre-Scale

8 juli 2021 · 38 min
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Laela Sturdy is a General Partner @ CapitalG, Alphabet's independent growth fund with investments in the likes of Stripe, UiPath, Looker, Robinhood and Lyft to name a few. As for Laela, she joined CapitalG shortly after inception in 2013 and has led investments in Stripe, Duolingo, Gusto, UiPath and Unqork, to name a few. Prior to CapitalG, Laela was at Google as Managing Director of Emerging Businesses and held leadership roles within YouTube and search. Lees meer

In Today's Episode with Laela Sturdy You Will Learn:

1.) How Laela made her way into the world of venture and came to be a General Partner at Alphabet's independent growth fund, CapitalG?

2.) The Market: With the rise of crossover funds, hedge funds, private equity, all entering growth stage venture, how does Laela analyse the current state of the market? How has the increase in capital supply impacted pricing at growth? How do CapitalG compete in a world where competitors pay 2x the valuation and have different outcome expectations?

3.) Portfolio Construction: Given CapitalG's single LP and evergreen structure, how do CapitalG think about portfolio construction? What is the right level of diversification? How doe CapitalG structure internal investment decision-making? How does this change for re-investments? How do CapitalG think about attribution internally?

4.) Upside and Downside: Given prices being so high, when outcome scenario planning, how does Laela think about good vs great when it comes to multiple expectations? How has this changed over time? On the flip side, how does Laela think about loss ratio at growth today? Has this changed with rounds becoming more and more pre-emptive?

5.) Scaling Unicorns: What are the commonalities in the biggest challenges founders face post-product-market fit but prescaling? What are the clear signs to Laela that a founder is uniquely skilled at hiring? Does Laela agree that the best founders do not need help on hiring? How does Laela feel about the future of venture…
20VC: Twilio's Jeff Lawson on What It Takes To Create a Tribe, How To Create Anti-Fragile Organisations Through Decentralised Decision-Making and Why Values Are Nice But Principles Are Better

28 juni 2021 · 46 min
Afspelen

Jeff Lawson is the Founder & CEO @ Twilio, the company that allows you to unite communications and strengthen customer relationships across your business. Prior to their incredibly successful IPO in 2016 Jeff raised funding from some of the best including Bessemer, Union Square Ventures, Redpoint, Salesforce and Founders Fund to name a few. Before founding Twilio, Jeff was co-founder & CTO of NineStar, founding CTO of Stubhub.com, co-founder, CEO & CTO of Versity, and one of the first product managers for Amazon Web Services. Lees meer

In Today's Episode with Jeff Lawson You Will Learn:

1.) How Jeff made his way into the world of tech and startups and what that founding a-ha moment was for Jeff with Twilio? When explaining new ideas to people, what signals to Jeff that the idea is resonating? Are there clear indicators an idea is not resonating?

2.) Leadership: What does great leadership mean to Jeff today? How has Jeff's leadership style changed and evolved over the years? What does Jeff believe is the key to great storytelling? How has the leadership style required, changed in a COVID world? What have been the biggest inflection points in his leadership?

3.) Culture: What does Jeff believe are the 3 key ingredients to company culture? How can leaders create a tribe that people associate with? What are the biggest lessons we can take from sport and religion when it comes to culture building? At what points has Jeff been concerned about the Twilio culture? What did he do to rectify it? Why are "values nice but principles better"?

4.) Decision-Making: How has Jeff created a culture of decentralised decision-making? What has Jeff done to ensure the best ideas rise to the top? In what ways can leaders ensure people feel safe to be bold and go big, without the fear of failure? How does Jeff determine when to give or remove resources from new ideas? How does Jeff think about the importance of "focus"?

5.) Diversity: Frank Slootman previously said, "diversity should not over…
20VC: Optimising Investment Decision-Making in Compressed Fundraising Timelines & A Deep Dive on Portfolio Construction, Price Sensitivity and The Importance of Ownership with Mark Mullen, Co-Founder @ Bonfire Ventures

24 juni 2021 · 41 min
Afspelen

Mark Mullen is the Co-Founder of Bonfire Ventures, one of LA's leading early-stage funds, now on their 3rd Fund with $101M in the latest. In the past, Mark has invested in the likes of Trade Desk, Scopely, GOAT, ChowNow, Niantic and Pendo to name a few. Prior to co-founding Bonfire, Mark was a solo GP with Double M and then through Mull Capital, Mark is also an LP in other funds investing in 15 including the likes of Upfront, Freestyle, Backstage and Crosscut to name a few. Lees meer

In Today's Episode with Mark Mullen You Will Learn:

1.) How Mark made his way into the world of venture, came to found Double M and why he decided he wanted to co-found Bonfire and be in a partnership, not a solo GP model?

2.) Portfolio Construction: With the new fund, how did Mark think about the right portfolio construction? What is the right level of diversification? How many lines should be in the portfolio? How important is ownership today? Is it possible to build ownership in your best companies over time? How does Mark think about proactive reserve allocation today?

3.) Investment Decision-Making: How does Mark think about the right investment decision-making structure with Bonfire today? How can one retain speed but also increase the number of decision-makers? How does Mark feel about the compression of fundraising timelines today? What advice does Mark give to founders when selecting their cap table?

4.) Boards and Time: How does Mark evaluate his own style of board membership? How has it changed over time? What do the best do on boards that makes them so great? How does Mark think about time allocation across the portfolio? Should you only spend time with winners? What have been some of his biggest lessons from this?

Item's Mentioned In Today's Episode with Mark Mullen

Mark's Favourite Book: Undaunted Courage

Mark's Most Recent Investment: Topia

As always you can follow Harry and The Twenty Minute VC on Twitter here!
20VC: Rishi Sunak, Chancellor of the Exchequer on Turning the UK Into a Talent Magnet, What Can Be Done To Drive Further Investment in UK Venture & A Breakdown of Morning Routines, Peloton Favourites and Managing Nerves

21 juni 2021 · 30 min
Afspelen

Rishi Sunak was appointed Chancellor of the Exchequer on 13 February 2020. He was previously Chief Secretary to the Treasury from July 2019 to February 2020, and Parliamentary Under Secretary of State at the Ministry of Housing, Communities and Local Government from January 2018 to July 2019. He spent his professional career before politics in business and finance, working internationally. He co-founded an investment firm working with companies in multiple geographies and used that experience to help small and entrepreneurial British companies grow. Lees meer

In Today's Episode with Rishi Sunak You Will Learn:

1.) Rishi's first job was waiting table in a restaurant, what were his biggest takeaways from that first job? How did Rishi's time at Stanford impact his operating mindset today? How did Rishi make his way into the world of politics following a very successful career in finance?

2.) Talent: What does the UK need to do to become a global talent hub? How can Visa programs be reformed and innovated to ensure the UK is an attractive destination for the best talent? On reflection, where has the UK done well on talent and immigration? On the flip side, what has not worked? Why? What would Rishi have done differently?

3.) Entrepreneurs Relief & Capital Gains: What is the logic behind the removal of entrepreneurs relief? Why is it inefficient in its current form? How does Rishi think about using capital gains as a tool to attract the best to build and invest in the UK? Why does Rishi believe the UK is the most attractive place to build a business from a tax perspective? How does the UK compare to the EU and US?

4.) Driving Further Investment in the UK: What worked and what did not work with regards to "The Future Fund"? What would Rishi have done differently? What can Rishi and the UK do to encourage pension funds to invest more in venture moving forward? What are some elements the public assume the government can and should do, but in reality, you cannot?

5.) Rishi Suna…

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