20VC: Affirm Max Levchin on Why Grading Talent by Letter (A or B) is Total BS | How to Create a Culture of Post Mortems and Writing | Why You Should Only Study Failure Not Success & The Biggest Surprises Scaling to $18.7BN Market Cap

Daniel Waterhouse is a General Partner @ Balderton Capital, which he joined in 2013 and he currently sits on the boards of Top10, ROLI, Lovecrafts, TrademarkNow, Tictail, Achica, Thread and Workable. Prior to Balderton, Daniel spent 5 years as a partner at Wellington Partners and invested in a number of fast-growing companies including EyeEm, Hailo, YPlan, Bookatable (also a Balderton portfolio company), SumAll, Readmill (sold to Dropbox) and Qype (sold to Yelp). Before Wellington, Daniel was a sector partner at 3i where he worked on all of their venture and private equity investments in the internet sector in North America and Europe. In Today's Episode You Will Learn: 1.) How Daniel made his way into the wonderful world of VC? 2.) How has Daniel's mathematics background impacted his investing style? 3.) At Balderton 50% of the partners have very operational backgrounds and 50% are much more investment rooted. What has Daniel gained and missed as an investor from having a outside view of the startup world? 4.) How has Daniel seen the landscape change in the last 15 years? What was his first pitch meeting like? What was his last like? 5.) What are Daniel's thoughts on the enterprise SaaS space? Do Daniel think there is further to go in the consumerisation of Enterprise Software? Does the announcement of Emergence moving from the sector signal a turning tide? 6.) Daniel led the investment in Curious AI and Thread, using machine learning to augment its stylist approach, so what makes Daniel excited about the developments in AI? How is the sector going to develop over the next 20 years? Items Mentioned In Today's Show: Daniel's Fave Book:  The Brain That Teaches Itself Daniel's Most Recent Investment: Curious AI As always you can follow Harry, The Twenty Minute VC and Daniel on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here! I would like to say a huge thank you to our sponsor for today's show: LoyaltyBay. Have you ever wished more of your website visitors would convert into a sale, signup or referral? If so, you need Loyalty Bay. With their saas conversion optimizer tool they increase any conversion metric by offering potential customers a choice of personalised rewards to get them to convert. They work with large enterprises like Virgin Media through to startups and have increased conversions on average by over 100%. Free 30 day trial at www.loyaltybay.co.uk

25 Marras 201522min

Suranga Chandratillake is a General Partner @ Balderton Capital. He was previously an entrepreneur and engineer having founded blinkx, the intelligent search engine for video and audio content in Cambridge in 2004. He then lead the company for eight years as CEO through its journey of moving to San Francisco, building a profitable business and going public in London where it achieved a peak market capitalisation in excess of $1Bn. Before founding blinkx, Suranga was an early employee at Autonomy Corporation - joining as an engineer in the Cambridge R&D team and ultimately serving as the company's US CTO in San Francisco.  In Today's Episode You Will Learn: 1.) How Suranga made his way into the wonderful world of VC? 2.) Why are so many technical European CEOs fearful of continuing the position as CEO? What can we do to improve it? 3.) What does Suranga think makes a great CEO? Which CEO Suranga respects the most and why? 4.) How have Suranga's years as an entrepreneur affected his investing style? Does Suranga have a consistent investing style or does he look to iterate a lot? 5.) Balderton is an Equal Partnership VC, what does that really entail? Why does Suranga think this model is the most efficient? Looking at the new appointment of Lars, how do the GPs assess new candidates for the treasured GP position? 6.) What sectors is Suranga most excited by and why? Does Suranga think there is further to go in the consumerisation of Enterprise Software? Does the announcement of Emergence moving from the sector signal a turning tide? Items Mentioned In Today's Show: Suranga's Fave Book: The Old Man And The Sea Suranga's Most Recent Investment: Cloud Nine As always you can follow Harry, The Twenty Minute VC and Suranga on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here! I would like to say a huge thank you to our sponsor for today's show: LoyaltyBay. Have you ever wished more of your website visitors would convert into a sale, signup or referral? If so, you need Loyalty Bay. With their saas conversion optimizer tool they increase any conversion metric by offering potential customers a choice of personalised rewards to get them to convert. They work with large enterprises like Virgin Media through to startups and have increased conversions on average by over 100%. Free 30 day trial at www.loyaltybay.co.uk

23 Marras 201525min

Ayan Mitra is the Founder & CEO @ Crowdbnk, an investment crowdfunding platform that allows you to invest in high growth businesses through both equity and debt. Ayan himself has a background as an enterprise architect and technical manager, having worked with leading consumer companies including M&S, Orange and First Direct. He took his LBS MBA to follow his passion and launch CrowdBnk in 2011. Since 2011 Crowdbnk has raised nearly £20m for high growth startups. In Today's Episode You Will Learn: 1.) How did Ayan make his way into the world of startups and tech and start Crowdbnk? 2.) What is Crowdbnk, how does it work, what companies Crowdbnk raise for, what is their minimum investment etc? 3.) What are the key drivers of the massive rise of the crowdfunding sector? What effect will the recent SEC ruling have on global crowdfunding? 4.) With the greater and greater amounts being raised on these platforms, does Crowdfunding have the potential to replace VCs in the future? 5.) What are the greatest barriers to mass market adoption of the crowdfunding model? What have been the biggest challenges faced in the journey with Crowdbnk? 6.) How do crowdfunding platforms plan to draw investors away from funds and other portfolio based assets given the level of risk associated with investing in young companies? Items Mentioned In Today's Show: Ayan's Fave Book: Intelligent Investing by Benjamin Graham Ayan's Fave Crowdbnk Investment: Gojimo by George Burgess As always you can follow Harry, The Twenty Minute VC and Crowdbnk on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

20 Marras 201524min

Eric Paley is the Managing Partner at Founder Collective, one of the world's most successful seed funds with investments in the likes of Uber, Hunch, Makerbot and About.me. Prior to Founder Collective, Eric was the Co-Founder and CEO of Brontes Technologies, later acquired by 3M for $95m. Following it’s acquisition Eric began making angel investments and it was not long before Eric and David, 'super angel' at the time, saw the potential for a Founder First seed fund and Founder Collective was born. In Today's Episode You Will Learn: 1.) How Eric made his move into the wonderful world of venture from founding Brontes Technologies? 2.) What does Eric make of early stage valuations? When creating a venture fund why did Eric believe the seed stage was the stage with the most opportunity? 3.) Question from the legend, David Hornik @ August: At such an early stage where Founder Collective traditionally put in $0.1m-$0.3m, does Eric feel they put in enough money to make it matter? 4.) Does Eric believe that by not doing follow on rounds they are missing out? Does this resistance to seed funds set Founder Collective apart? David did mention that you have begun to follow on now, so what makes you follow on with one portfolio company and not another? 5.) The Founder journey is testing both physically and emotionally, what elements of support do Founder Collective provide outside of the business relationship? Items Mentioned In Today's Show: Eric's Fave Book: Fooled By Randomness As always you can follow Harry, The Twenty Minute VC and Eric on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

18 Marras 201532min

David Frankel is the Managing Partner at Founder Collective, one of the world's most successful seed funds with investments in the likes of Uber, Hunch, Makerbot and About.me. Prior to Founder Collective, David was the Founder and CEO of Internet Solutions, one of the largest ISP providers in Africa. Following it’s acquisition David made his move into the investing game becoming one of the very first ‘super angels’, following exceptional success in this field, David along with Eric Paley (coming on the show on Wednesday) and Micah Rosenbloom founded Founder Collective, a seed stage venture fund whereby everyone at Founder Collective has started a technology company, they have lived and breathed the founder experience, a true founder friendly venture fund. In Today's Episode You Will Learn: 1.) How did David make his move into the wonderful world of venture from being a founder and 'super angel'? 2.) Question from Spencer Lazar @ General Catalyst: How has David evolved as an investor over time? Has his strategy and approach altered? 3.) David has experienced some immense cycles both up and down, how has he seen the seed funding environment evolve? 4.) What was it like working with Chris Dixon from a16z? What advice would David give to someone looking to maintain or create a network around them? What other sources of deal flow do you utilize? How do you most like to be approached? 5.) How did FC's investment in Uber come about? What does David make of the regulatory hurdles Uber face with regards to employees or contractors? What is the future for Uber? 6.) What can we expect from Founder Collective? What is David excited about and why? Items Mentioned In Today's Show: David's Fave Book: Eating Well For Optimum Health, Playing The Enemy David's Fave Blog: Dan Primack, Term Sheet David's Most Recent Investment: Pillpack As always you can follow Harry, The Twenty Minute VC and David on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

16 Marras 201527min

Steve O’Hear is best known as a technology journalist, currently at TechCrunch where he focuses on European startups, companies and products. He first joined TechCrunch in November 2009 as Contributing Editor for TechCrunch Europe, where he worked alongside Editor Mike Butcher to help build TechCrunch’s European coverage. However, in June 2011 having caught the startup bug, Steve took a break from journalism to co-found the London and Prague-based startup Beepl. In November 2012, Beepl was acquired by Brand Embassy. Steve is also the writer and director of the critically acclaimed Silicon Valley documentary ‘In Search of the Valley’. Before we delve into the show today, our dear friend and kind donator, Brad Feld has agreed to do a competition giveaway featuring signed copies of his amazing book, Venture Deals, all you have to do to be in with a chance is headover to the website at www.thetwentyminutevc.com and sign up for our newsletter. It’s that simple. In Today's Episode You Will Learn: 1.) Where did it all start for Steve, how did you make he make his entrance into the tech industry, journalism and then founding Beepl? 2.) How did Steve find the transition from journalist to entrepreneur? What were the hardest aspects of the journey? What surprised Steve about the fundraising process for Beepl? 3.) In such a crowded space such as news generation, what is it about TechCrunch that makes it The Bible to the tech community? 4.) Obviously articles and news brings comments from the community. How do  TechCrunch try and engage and unite the community? Have there been any difficulties with the commenting process etc? 5.) How does a platform like TechCrunch plan to monetize content with the ever disappearing ad dollar? Is it something that concerns TechCrunch? 6.) Where does Steve think we are going in both wider media and journalism? Is journalism heading to the short form with the increasing prominence of platforms such as Buzzfeed? How does the industry   Items Mentioned In Today's Show: Steve's Fave Book: The Big Sleep Steve's Fave Blog: Tech.eu As always you can follow Harry, The Twenty Minute VC and Steve on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

13 Marras 201526min

Jeppe Zink is the General Partner at Northzone, who have investments in the likes of Spotify, Bloglovin and TrustPilot, just to name a few. Jeppe himself established the London office of Northzone and his primary areas of focus are fintech, SaaS, marketplaces and mobile and has made investments in Wallapop, SpaceApe Games and many more. Before we delve into the show today, our dear friend and kind donator, Brad Feld has agreed to do a competition giveaway featuring signed copies of his amazing book, Venture Deals, all you have to do to be in with a chance is headover to the website at www.thetwentyminutevc.com and sign up for our newsletter. It’s that simple. In Today's Episode You Will Learn: 1.) How Hussein mad his way into the wonderful world of venture? 2.) What was it like to start a new fund with Hoxton and why did Hussein leave the security of Accel to start his own? 3.) Why did Hussein believe this was the stage with the most opportunity? Does he think there is too much capital chasing too few deals? 4.) With DarkTrace (portfolio company), Hoxton were the only VC money in at the early stage? How did that come about and what was it about Hoxton that made Mike take your money? 5.) Why did Hussein choose to setup the fund in London? What does he think is driving the surge in European tech with the rise of the Nordics etc? 6.) With Steve O’Hear Hussein stated he looks for brand new markets that are going to be formed (Playfish)? What does he think those are? Items Mentioned In Today's Show: Jeppe's Fave Book: Zero To One, Startup Growth Engines  Jeppe's Fave Blog: Strictly VC Jeppe's Productivity Tools: CityMapper, Genius Jeppe's Most Recent Investment: CrossLend As always you can follow Harry, The Twenty Minute VC and Jeppe on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

11 Marras 201519min

Hussein Kanji really is a pedigree in the industry having started off his career with Microsoft, he made the leap into venture with Accel Partners where he was a board observer with the likes of Playfish, acquired by Electronic Arts and made seed investments in the likes of OpenGamma and Dapper acquired by Yahoo. Following such success, Hussein raised his own fund and is now the founder of Hoxton Ventures, a 2013 fund with $40m under management. Despite, Hoxton’s age their portfolio is immense with the likes of Deliveroo, DarkTrace by the famous Mike Lynch from Autonomy and Campanja, recently acquired by 24/7 customer. Before we delve into the show today, our dear friend and kind donator, Brad Feld has agreed to do a competition giveaway featuring signed copies of his amazing book, Venture Deals, all you have to do to be in with a chance is headover to the website at www.thetwentyminutevc.com and sign up for our newsletter. It’s that simple. In Today's Episode You Will Learn: 1.) How Hussein mad his way into the wonderful world of venture? 2.) What was it like to start a new fund with Hoxton and why did Hussein leave the security of Accel to start his own? 3.) Why did Hussein believe this was the stage with the most opportunity? Does he think there is too much capital chasing too few deals? 4.) With DarkTrace (portfolio company), Hoxton were the only VC money in at the early stage? How did that come about and what was it about Hoxton that made Mike take your money? 5.) Why did Hussein choose to setup the fund in London? What does he think is driving the surge in European tech with the rise of the Nordics etc? 6.) With Steve O’Hear Hussein stated he looks for brand new markets that are going to be formed (Playfish)? What does he think those are? Items Mentioned In Today's Show: Hussein's Fave Book: The Second Bounce Of The Ball: Ronald Cohen, Flowers from Algernon Hussein's Fave Blog: Josh Koppelman: Redeye VC, Abnormal Returns As always you can follow Harry, The Twenty Minute VC and Hussein on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session you can follow him on Instagram here!

9 Marras 201530min