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

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

Max Levchin is one of the great founders and technologists of our time. As the Founder and CEO of Affirm, he has built am $18.7BN monster in the buy no pay later space. Prior to Affirm he was one of the original co-founders of PayPal. Max is also the co-founder and Chairman of Glow, a data-driven fertility company. Max is also an immensely successful angel investor with a portfolio including the likes of Yelp, Pinterest and Evernote.

In Today’s Episode We Discuss:

04:19 How to Hire the Best People in the World

05:05 How to Manage Extreme Personalities

08:18 Biggest Lessons on Trust and What Happens When Lost

12:05 Is Grading Talent A and B Players Total BS?

15:31 How to Think About Calculated vs Uncalculated Risk

27:18 How to Create a Culture of Post Mortems: Step by Step

32:08 Why Every Person Must Write and How to Create a Writing Culture

36:01 Leadership Lessons from Layoffs

38:38 Is Affirm Losing or Beating Klarna in the US?

47:03 Peter Thiel or Elon Musk: Who Would Max Rather Start a New Company With?

48:37 Quickfire Round

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20 VC 018: Seed Stage Investing with Stefan Glaenzer of Passion Capital

20 VC 018: Seed Stage Investing with Stefan Glaenzer of Passion Capital

Stefan Glaenzer is Founding Partner at Passion Capital an early stage VC fund who have invested in the likes of DueDil, GoCardless and CarThrottle. He is also Co-Founder of White Bear Yard, a co-working space in London's East End. Prior to Passion, Stefan was Chairman of Last.fm, an early investor in Wahanda and remains an active member of their board and founder of Ricardo, which went public in 1999. Items Mentioned in Todays Show: Passion Capital: The First Two Years Lendable Smava What you will learn in today's episode: How Stefan got into the technology industry and later pivoted into the VC world? What is Stefan's preferred stage to enter into an investment and what is the standard amount invested in a startup? How much equity Stefan would look for in an investment? What interaction is typical for VCs following investing in a startup? How individuals should pitch their idea to Stefan? How many startups does Passion typically invest in on an annual basis? Does Stefan encounter the fear on missing out on a startup? What is it about the Peer to Peer lending sector that excites Stefan so much? Does Peer to Peer have a brighter future than Crowdfunding? What sector is Stefan most excited about and why? How can an entrepreneur show their enthusiasm and make an awesome pitch? Is there a formula for making a successful pitch? What are Stefan's red flags when a startup pitches to him? As the interview concludes we ask Stefan some quick fire questions where we hear his thoughts on the hardest decision of his life? The best piece of advice Stefan has been given and his most recent investment and why he said yes? For all the resources mentioned in today's show head on over to www.thetwentyminutevc.com Likewise, if you have a suggestion for a VC that you would like us to interview please do let me know by emailing harry@thetwentyminutevc.com

9 Mars 201519min

20 VC 017: Nektarios Liolios of Startupbootcamp on Fintech, Pitching and London's Tech Scene

20 VC 017: Nektarios Liolios of Startupbootcamp on Fintech, Pitching and London's Tech Scene

Nektarios Liolios is Co-Founder and Managing Director of Startupbootcamp Fintech, the leading innovation program in the financial industry providing access to a global network of investors and VCs for up to 10 lucky startups selected. Nektarios himself has more than 15 years in business, having spent the last three with InnoTribe, running the Innotribe Startup Challenge. Items mentioned in today's show: 500 Startups: How to Pitch investUP: The Crowdfunding Supermarket What you will learn in today's episode: How Nektarios got into the world of tech accelerators? How Startupbootcamp Fintech varies from the traditional VC model? What makes the best pitches at Demo Days? What is the selection process to get accepted at Startupbootcamp? What can startups prepare to do before pitching to Startupbootcamp? What is the most common reason Nektarios says no to startups? What would Nektarios advise someone who is looking to find a co-founder? What sector is Nektarios most excited about for the future? What Nektarios thinks about the future of bitcoin? We then complete todays interview by having a quicker round where we hear Nektarios' thoughts on his favourite entrepreneur? The happiest moment Nektarios has enjoyed in his career? A day in the life of a Managing Director of a Startupbootcamp? What was Nektarios' most recent investment and why he said yes? For all the resources mentioned in today's show, head on over to www.thetwentyminutevc.com For any suggestions about future guests or questions you would like to hear, we would love to hear from you. If so email harry@thetwentyminutevc.com

5 Mars 201520min

20 VC 016: Y Combinator, Twitch.TV and Socialcam with Mike Seibel

20 VC 016: Y Combinator, Twitch.TV and Socialcam with Mike Seibel

Mike Seibel has enjoyed the most incredible career in the technology industry on both the Founder and the VC side of the table. He was Co-Founder and CEO of Justin.TV which was part of the Y Combinator Winter Class of 2007, and was later acquired as Twitch.TV by Amazon for $970 million. In that time Mike also created a spin off from Justin.TV, SocialCam, where he was Co-Founder and CEO, culminating in their acquisition in 2012 for $60 million by Autodesk.  Items mentioned in Todays' Show: Twitch.TV SocialCam Y Combinator Dropbox What you will learn in this episode? How Mike got into the technology industry and later the tech accelerator business with Y Combinator? Why Mike did not learn to code? Mike's own experiences in Y Combinator. What is it that Y Combinator does to produce such amazing and revolutionary companies? What does Demo Day look like at Y Combinator? What is the selection process for choosing which companies to back and which not to? What do you look for in the interviews with the Founders? Are top level University degrees necessary for entry into the Y Combinator class? What are Mike's biggest red flags when looking at startups? Why Mike would never outsource engineering? What can startups do to prepare themselves for the Y Combinator process? What sector is Mike really excited about and why? What is a day in the life of a Y Combinator partner? We then finish todays episode with a rapid fire round where we hear Mike's thoughts on the best piece of advice Mike has received, the hardest decision Mike has had to make in his career, how can an individual start a company with no technical skills or experience?   For all the resources mentioned in today's show, check out www.thetwentyminutevc.com Likewise, we would love to hear from you, so if you have any questions you would like asked or VCs you would like to have on the show, send an email to harry@thetwentyminutevc.com

2 Mars 201522min

20 VC 015: Marketplaces, IPOs and the NY Startup Scene with Lisa Wu

20 VC 015: Marketplaces, IPOs and the NY Startup Scene with Lisa Wu

Lisa is Vice President at Norwest Venture Partners (NVP), where she focuses on early to late stage investments with emphasis on consumer internet. Before joining NVP, Lisa worked in Amazon's Worldwide Corporate Development Team, in which she evaluated acquisition targets and identified strategies for potential expansion. Prior to Amazon, Lisa was at Bessemer Venture Partners. If that wasn't enough Lisa also founded her own startup, Banzaa! Fresh, providing high quality nutritious foods to schools and hospitals in Northern California. Items Mentioned in Todays show: Etsy Lending Club SkyBox FireEye Jet DoubleClick What you will learn in today's show: How Lisa got into the investing game? Why Lisa is investing in marketplaces? What Lisa's normal investment size is? Lisa's most recent investment and why Lisa said yes? Does Silicon Valley deserve the accolade it gets? Or is NYC fast approaching? Do VCs investment attitudes differ when comparing SF to NYC? How early is too early for Lisa to invest? What was the one thing that propelled Lisa's career?  We then move into a quick fire round where we hear Lisa's thoughts on the best advice she has ever been given, the number 1 reason Lisa says no to startups and what Lisa would do if all she had was a laptop and $100!

26 Feb 201517min

20 VC 014: Acquired by Salesforce turned VC with Kyle Lui

20 VC 014: Acquired by Salesforce turned VC with Kyle Lui

Kyle Lui is Principal at DCM Ventures where he helps entrepreneurs scale their companies and advise on product development across IOT, consumer internet and mobile and enterperise Saas. Prior to DCM, Kyle was Co-Founder at ChoicePass, a enterprise perks and rewards Saas company backed by prominent angel investors, later acquired by Salesforce.com and Rypple. At Salesforce, Kyle served as Director of Product Management on the founding product team for Work.com, growing the business to over 1,000 enterprise customers. Items mentioned in this episode: Learn Python the Hard Way AnyPerk Eaze In this episode you will learn: How Kyle made the leap from Startup Founder to Venture Capitalist? How did Kyle learn to code? How did Kyle feel on selling ChoicePass to Salesforce? What was it like working in such a large company, such as Salesforce? How did your role change when Salesforce was acquired? What was the most difficult element faced by Kyle in his time at ChoicePass? Where does Kyle see the future of incentivising employees and how important is this aspect of corporate life? When investing in a company what aspects really attract you to a deal and what can be a real red flag? Are University and College degrees necessary for you to invest in a founder? Is Kyle concerned that a potential increase in regulation could damage his investment in Eaze, medical marijuana delivery startup? We conclude today's show with a quick fire round where we hear Kyle's thoughts on what Kyle would do if all he had was a laptop and $100, what advice Kyle would give to entrepreneurs starting a company? For all the resources and items mentioned in todays show, head on over to www.thetwentyminutevc.com If there are any VCs you would like us to interview, send an email to harry@thetwentyminutevc.com and we will arrange it!

23 Feb 201520min

20 VC 013: Frank Meehan Series A, Spark Labs and The Future of The Asian Tech Market

20 VC 013: Frank Meehan Series A, Spark Labs and The Future of The Asian Tech Market

Frank is Co-Founder and General Partner at Spark Labs Global seed fund where he has invested in 40 companies in the US, UK and Asia. Previously, Frank was part of Horizon Ventures where he represented them on the boards of Siri, Summly and Spotify, just to name a few.  Items mentioned in today's show: SparkLabsGlobal Horizon Venture Brent Hoberman Smartup Youth Digital Castle.io Clinkle In today's episode you will learn: How Frank made his entry into the technology industry and later the world of venture capital? What Frank would recommend someone who is trying to learn to code? Is coding necessary for a Founder to be successful? What does Frank believe makes the perfect Series A round? How early is too early to invest for Frank? How do VCs compete for the most competitive rounds? What was Frank's most recent investment and why he said yes? What sector is Frank most excited about and why? When thinking of success, who is the 1st person that comes to Frank's mind? What Frank learnt from working at Horizon? We then finish today's episode with a quick fire round where we hear Frank's thoughts on the future of the Asian tech market and the hardest decision of Frank's career. For all the resources mentioned in today's show, head over to www.thetwentyminutevc.com Likewise we would love to hear from you, if you have any questions you would like us to ask, send us an email harry@thetwentyminutevc.com

20 Feb 201519min

20 VC 012: Angel Investing, Accelerators and AdTech with Clark Landry

20 VC 012: Angel Investing, Accelerators and AdTech with Clark Landry

Clark Landry is Founder and Chairman at Shift, the leading social advertising network for brands. He is also Executive Chairman of GraphEffect, a prominent social media marketing firm. In recent years Clark has made his foray into the investing industry with investments in the likes of AngelList and Lettuce. In his short time investing in startups, Clark has achieved an incredible 10 exits. Items Mentioned in today's show: Shift Platform Burstly DSTLD Jeans  Limitless by Alan Glynn The Black Tux BloomNation In today's episode you will learn: How Clark made his entry into the world of tech and what caused his transition into angel investing? The most valuable insight Clark has learnt from being both a Founder and an Investor? How does Clark pick which startups to back, does he focus on any particular aspects of the company? What sector Clark is most excited about and why? How can someone make an entry into the tech startup world without having any coding ability? We then finish the interview by hearing Clark's thoughts the effectiveness of tech accelerators, his most recent investment and his favourite book. For all the reasons mentioned in today's show, head on over to www.thetwentyminutevc.com If you have a question you want answered, send it in to harry@thetwentyminutevc.com and we will ask it on an upcoming show.

18 Feb 201526min

20 VC 011: London's Early Stage Funding Scene with Thomas Jones

20 VC 011: London's Early Stage Funding Scene with Thomas Jones

A very exciting day on the 11th episode of The Twenty Minute VC as we welcome our 1st London based guest on the show, Thomas Jones. Thomas is Founder and Partner at Charlotte Street Capital, who invest up to £200,000 in early stage UK technology companies. Their impressive portfolio includes the likes of Chilango, GoSquared and SeedCamp, just to name a few. Prior to Charlotte Street Capital, Thomas was Founder and Executive Director of SMARTS Group International, offering a real time market surveillance platform, now used in dozens of stock exchanges around the world. Items Mentioned in todays show: Crowdcube Seedcamp Kidslox In today's session you will learn: How Thomas made his entry into the world of Venture Capital? When investing in a startup, do you have a mental timeline of the startup's journey in your head with a clear strategy of when a desired exit will occur? When it comes to investing, what really gets Thomas excited about the potential of a company? What Thomas believes the main differences to be between VCs in Europe compared to the USA? With the evolution of funding methods, how does Thomas see the 'crowd' becoming more involved in the future of early stage funding? What advice Thomas would give to a graduate looking to make their entry into the industry? We finish today's episode with a quick fire round, where we hear Thomas' immediate thoughts on the future of disruption and the all time best business book! For all the resources mentioned in today's show head over to www.thetwentyminutevc.com where you can sign up for you free 7 DAY BUSINESS PLAN COURSE We would love to hear from you, so if you have a VC you would like to hear from, send us an email: harry@thetwentyminutevc.com and we will see what we can do!

9 Feb 201525min

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