20VC: Litecoin Founder, Charlie Lee on Why ICO's Are The Biggest Threat To Crypto, Why Ethereum Will Run Into Huge Scalability Problems & How To Assess The Trade Off Between Decentralisation & Scale

Anu Hariharan is a Partner @ Y Combinator's Continuity Fund, the growth stage investing arm of Y Combinator that has made investments in the likes of Segment, Lob (coming on Friday), Convoy, where Anu is a board member and RazorPay. Prior to YC, Anu was an investment partner at Andreessen Horowitz, where she worked actively with the management teams of portfolio companies including Airbnb, Instacart, Medium, OfferUp and Udacity. Before that Anu was a Principal at The Boston Consulting Group's Private Equity practice where she led multiple growth equity due diligences in the consumer and fintech sector. In Today's Episode You Will Learn: 1.) How Anu made her way from engineer to consultant to Andreesen investment partner to now, one of the leading members of YC's growth stage investing vehicle? 2.) How does Anu truly define "network effect"? Where does Anu think startups most commonly misunderstand network effects? Which form of network effect does Anu find most exciting? Why? How has this evolved over the years? 3.) What are the 2 core indicators that show the sustainability of network effect? Looking at past examples of products and founders, who has best executed on this? What are the signs that founding teams fundamentally analyze and optimize network effect virality? 4.) Why does Anu believe that growth teams will be a fundamental requirement for companies in the future? What are the 2 mistakes startups make when establishing their growth team? How does one know when is the right time to build their growth team? What are the core challenges in scaling growth teams? How does this drive decision-making? 5.) How does Anu describe "Phase 1" and "Phase 2" of company scaling? What transition must the CEo adopt when making this scaling transition? Comparing founders, what are the commonalities in those that succeed with the transition and those that do not? Items Mentioned In Today's Show: Anu's Fave Book: Grit by Angela Duckworth Anu's Most Recent Investment: Convoy As always you can follow Harry, The Twenty Minute VC and Anu on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Leesa is the Warby Parker or TOMS shoes of the mattress industry. Leesa have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is ordered completely online and ships for free to your doorstep. The 10-inch mattress comes in all sizes and is engineered with 3 unique foam layers for a universal, adaptive feel, including 2 inches of memory foam and 2 inches of a really cool latex foam called Avena, design to keep you cool. All Leesa mattresses are 100% US or UK made and for every 10 mattresses they sell, they donate one to a shelter. Go to Leesa.com to start the New Year with better nights sleep! Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

5 Maalis 201833min

Mariam Naficy has pioneered consumer Internet models since 1998, when she co-founded the first online cosmetics retailer, Eve.com, which was sold for over $100 million. Today, Mariam is the Founder & CEO @ Minted, the startup that uses crowdsourcing and analytics to bring the best designs to market faster than anyone. To date, Mariam has raised &89m in VC funding with Minted from some of the best in the business including our favourites Floodgate, Benchmark, Menlo, Slow, Ridge Ventures and then prominent individuals such as Marissa Meyer and Jeremy Stoppelman. In addition, Mariam sits on the Board of Yelp and Every Mother Counts. In Today's Episode You Will Learn: 1.) How Mariam made her way into startups from investment banking and came to sell her first startup, Eve, for $100m in cash within a year before founding Minted? 2.) What were the biggest lessons Mariam learnt from Eve and applied to Minted? Why did Mariam not want to pursue VC funding in the beginning with Minted? What was the inflection point in not taking VC to taking VC funds? 3.) How did Mariam think about capital efficiency in the early days of Minted? How did Mariam see that change with the sudden injection of VC capital? In the heavily funded landscape today, would Mariam have raised VC money from the start, if starting today? 4.) Mariam is a master of internal upscaling, what is the secret to creating a culture of internal continuous learning? Why is rotation within the company roles such a core element? How has Mariam's assessment of people talent changed over the years? 5.) What would Mariam say is her greatest strength and he greatest weakness as a CEO? How has she seen this change with her 20 years of founding companies? How did having children change her outlook on managing people? Items Mentioned In Today's Show: Mariam's Fave Book: The Effective Executive As always you can follow Harry, The Twenty Minute VC and Mariam on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

2 Maalis 201826min

Steve Vassallo is a General Partner @ Foundation Capital where he sits or has sat on the boards of Pocket (acquired by Mozilla), PrivateCore (acquired by Facebook), Sunrun [RUN], Sentient Energy and many more. Prior to Foundation, Steve was Senior Vice President of Product and Engineering @ Ning, the social platform he helped launch in 2004. Before that, Steve was a project leader at IDEO, where he developed more than a dozen successful products for companies including Cisco, Nike, BMW and McDonalds. In addition, this year, Steve published The Way to Design, a guidebook for becoming a designer founder and building a design-centric company. In Today's Episode You Will Learn: 1.) How Steve made his way into the world of VC with Foundation from the land of product management? 2.) Why does Steve believe we have seen design move from a styling exercise to the main stage and a foundation of product? How does Steve feel the current crop of VC's analyse and appreciate design? What are they getting wrong? What can be done to engender a new sense of appreciation for good design? 3.) What advice would Steve give to a young person entering the workforce considering founding a startup, joining one or joining an incumbent? Where do they make their biggest mistakes? What is the optimal choice for learning and personal growth? 4.) Why does Steve have a problem with the term "product-market fit"? Where do people misunderstand about PMF? What is one looking to achieve with product market fit? How does Joe Gebbia @ Airbnb best present this idea? 5.)Steve has worked with dozens of 1st time founders over the last decade, what are the commonalities in the mistakes they make? What advice does Steve hear most commonly given that he disagrees with? Items Mentioned In Today's Show: Steve's Fave Book: Poor Charlie's Almanack Steve's Most Recent Investment: forusall As always you can follow Harry, The Twenty Minute VC and Steve on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

26 Helmi 201829min

Chris Hutchins is the Founder & CEO @ Grove, the startup reinventing financial planning allowing you to reach your goals with personalized financial advice. Just last week they announced their seed round from some of the best in the business including First Round Capital, Lowercase Capital, Box Group and SV Angel. Prior to Grove, Chris was an Partner & EiR with Google Ventures and before that co-founded Milk (acq by Google) alongside Kevin Rose. In Today's Episode You Will Learn: 1.) How Chris made the move from Google acquired Founder to Partner @ Google Ventures to now, founding First Round backed, Grove? 2.) What does Chris believe are the foundational elements founders must consider pre-fundraise? How does Chris suggest founders structure the process? How important is a fundraise deadline? How does Chris advise founders on getting warm intros, what is best? 3.) How can founders really optimise VC interactions? What is the biggest mistake founders make when meeting VCs? What should founders be looking to take from these meetings? How transparent should founders be about their meetings with other investors? 4.) What are Chris' view on the rise of SAFE's vs priced equity rounds? In what situations do SAFE's make sense? How did Chris think about this with his own fundraise recently? Does Chris believe there is too much money in the ecosystem? Where are there gaps and where is there overfunding? 5.) Why does Chris think hiring is a "big data problem"? Where do many founders make mistakes in recruiting in the early days? What hacks can be done to ensure a quality stream of candidates continuously? Items Mentioned In Today's Show: Chris' Fave Book: Happy Money As always you can follow Harry, The Twenty Minute VC and Chris on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

23 Helmi 201826min

Jeremy Liew is a Partner @ Lightspeed Venture Partners, one of the leading firms of the last decade with a portfolio including the likes of Snapchat, Mulesoft, Max Levchin's Affirm, The Honest Company and many more incredible companies. As for Jeremy, he is best known for being the 1st investor in Snapchat and has also led investments in StitchFix, Affirm, Ripple, Giphy and Bonobos just to name a few. Previously, Jeremy was with AOL, first as SVP of corporate development and chief of staff to the CEO, and then as general manager of Netscape. Due to his incredible investing success, Jeremy has been featured on the Forbes Midas List multiple times. In Today's Episode You Will Learn: 1.) How Jeremy made his way from AOL and Netscape to one of the most successful consumer investors of the last decade? 2.) How did the Snapchat deal come about? What did Jeremy see in the early Evan Spiegel that made him so excited? How has Jeremy seen him alter and grow with the company? What did the economics of the deal look like? 3.)Why does Jeremy disagree with much of the pessimism over consumer? How does Jeremy think about the lack of distribution channel availability with Google, Amazon, Apple owning them? How can this also present an opportunity in consumer? 4.) How does Jeremy think about price and price sensitivity? Would he agree with Peter Fenton on, "never turn down a deal based on valuation, it's a mental trap"? How does Lightspeed think about reserve utilization? What does the conviction building process look like for reserve deployment? 5.) Jeremy has sat on the boards of Snapchat, Giphy, Bonobos and had 1,500 hours of board experience, so what makes the truly special board members? Who does Jeremy most like to work with on boards? Items Mentioned In Today's Show: Jeremy's Fave Book: World War Z Jeremy's Fave Blog: The Information Jeremy's Most Recent Investment: Rothy's As always you can follow Harry, The Twenty Minute VC and Jeremy on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

19 Helmi 201822min

Nadia Boujarwah is the Founder & CEO @ Dia & Co, the startup that provides premier plus size clothing and styling for women. To date they have raised over $20m in funding from some of the best in the business including the likes of Alfred Lin @ Sequoia and the team @ NextView Ventures. Prior to Dia&Co Nadia was the CFO and COO @ Frieda and Nellie and also enjoyed time in the marketing and strategy team @ Diane von Furstenberg. In Today's Episode You Will Learn: 1.) How Nadia made her way from HBS grad to founding one of the hottest e-commerce companies of the day backed by Sequoia, Dia&Co? 2.) Why does Nadia believe that the biggest opportunity for value creation is through category creation? What does Nadia mean when she discusses category re-architecture? How does she think of the inherent cons (CAC, consumer education, distribution etc.) 3.) Despite the likes of Sequoia being invested now, the first year of Dia gained no institutional money. Why does Nadia think this is? What was the inflection point for VC interest? Is there anything that Nadia would change about how she has run the fundraising process? 4.) What does Nadia suggest as some core solutions to ensuring that more females become VCs? How does Nadia believe this will impact the types of companies that are being funded and built? What remain the core issues today? 5.) How does Nadia differentiate between customer centricity and customer devotion? Why is this so crucial in today's proliferated world of e-commerce? How does Nadi and Dia determine with data, the extent to which they achieve their customer devotion targets? Items Mentioned In Today's Show: Nadia's Fave Book: Competing Against Luck As always you can follow Harry, The Twenty Minute VC and Nadia on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

16 Helmi 201825min

Dick Costolo is the Chief Executive and co-founder of Chorus, a startup that is reimagining the path to personal fitness. Dick is also a Mentor @ Index Ventures, one of the world's leading venture funds, which he joined in 2016. Costolo was most recently Chief Executive of Twitter from 2010 to 2015, where was at the forefront for their hypergrowth onto the main stage of tech. Prior to joining Twitter, Dick co-founded and ran three startups, including FeedBurner, which sold to Google in 2007. The former improv comedian has been a consultant on HBO's "Silicon Valley" and currently sits on the boards of Patreon and IfOnly. In Today's Episode You Will Learn: 1.) How Dick made his way from Improv Comedian to founding a startup acquired by Google and then becoming CEO of Twitter? 2.) Why does Dick believe that starting a company is like an improv stage? What were Dick's biggest personal learnings from his drama career that he has applied to being a better leader today? 3.) Having given up the comedy dream for tech, how does Dick balance the entrepreneurial unwavering vision with a realism of when things are not working? What is the inflection point? 4.) What was the biggest challenge over the 5 years in scaling Twitter? What strategies did Dick utilise to combat this? How does Dick think about creating a culture of accountability without fear? How does this change the ownership of decisions? 5.) What is Dick's biggest superpower and super weakness? Why must all entrepreneurs have to have a fundamental ability to compartmentalize? In terms of temperament, what were Dick's biggest lessons from watching Youtube CEO, Susan Wojcicki, operate? Items Mentioned In Today's Show: Dick's Fave Book: Creativity Inc. As always you can follow Harry, The Twenty Minute VC and Dick on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

12 Helmi 201823min

Brian Garrett is the Founding Partner @ Crosscut Ventures, one of LA's leading venture funds today with a portfolio including Super Evil Mega Corp, The Black Tux and Mobcrush just to name a few. Incredibly during the early days of Crosscut, Brian went back into a full-time operating role with a Public-company turnaround at Quepasa.com before co-founding vertical eCommerce brand StyleSaint.com. After surviving with the equivalent of two full-time jobs for roughly 6 years, Brian the attention of institutional capital, which enabled CrossCut to scale into a fund with $75M raised for CrossCut 3 in 2015. This has snowballed to their latest fund raised in December being $125m. In Today's Episode You Will Learn: 1.) How Brian made his way into the world of VC and came to found one of LA's leading funds in the form of Crosscut? 2.) What does Brian believe are the 3 core components that make for a successful VC? How important is the presence of humility for VCs today? How does Brian look to balance between arrogance and confidence? How is this shown in the entrepreneurial class? 3.) Why does Brian believe that vulnerability is actually a strength today? How can entrepreneurs be honest and vulnerable without ruining market perceptions and future fundraising aspirations? 4.) How does Brian look to place his relationship with the entrepreneur at the very core of every investment he makes? What does this relationship onboarding process look like? Is this possible in the fast-moving world of US deals today? 5.) What was the most challenging fundraise for Brian? Why was this case? How has he seen the evolution of Californian tech over the last few years since Fund III? What was the most memorable LP meeting for Brian? Items Mentioned In Today's Show: Brian's Fave Book: The Alchemist Brian's Most Recent Investment: Fuzzy Pet Health As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund's lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com. Zoom, fastest growing video and web conferencing service, providing one consistent enterprise experience that allows you to engage in an array of activities including video meetings and webinars, collaboration-enabled conference rooms, and persistent chat all in one easy platform. Plus, it is the easiest solution to manage, scale, and use, and has the most straightforward, affordable pricing. Don't take our word for it. Zoom is the top rated conferencing app across various user review sites including G2Crowd and Trust Radius. And you can sign up for a free account (not a trial!). Just visit Zoom.us.

5 Helmi 201825min