20VC: ClassPass CEO Fritz Lanman on Betting His Career Facebook Would Be A $10Bn Company, Lessons From Travis and Uber on Scaling A Global Marketplace & Whether Growth and Capital Efficiency Are Mutually Exclusive

20VC: ClassPass CEO Fritz Lanman on Betting His Career Facebook Would Be A $10Bn Company, Lessons From Travis and Uber on Scaling A Global Marketplace & Whether Growth and Capital Efficiency Are Mutually Exclusive

Fritz Lanman is the CEO @ ClassPass, the startup that provides the most flexible fitness membership ever. To date, they have raised over $154m in VC funding from the likes of Thrive, GV, CRV, Fifth Wall and Temasek just to name a few. As for Fritz, prior to ClassPass he was the Founder & CEO @ Livestar, a mobile recommendations startup that was acquired by Pinterest. Before that, he was a Senior Director in the Corporate Strategy Group @ Microsoft where he led several multi-billion dollar M&A evaluations and strategy projects including the Facebook investment and Yahoo deal. If that was not enough, Fritz is also a tremendously successful angel with a portfolio including the likes of Square, Pinterest, Wish, Flexport, Everlane and 75 or so more companies.

In Today's Episode You Will Learn:

1.) How Fritz made his way into the world of startups with Microsoft? How that led to angel investments in Wish, Flexport, Square and more? How he came to be CEO @ ClassPass?

2.) How did the $250m Microsoft investment in Facebook come about? What made Fritz so confident he told Steve Ballmer he was willing to bet his career it would be a $10Bn company? What was the decision-making process internally around that deal?

3.) How does Fritz assess his own asset allocation strategy? Why does Fritz not agree with thesis-driven angel investing? When starting angel investing, how did he approach portfolio construction? Why does Fritz believe it is immensely synergistic to be both an operator and angel? As a result, how does Fritz approach placing investors in a quadrant between helpfulness and high maintenance?

4.) Why does Fritz believe that your investor cannot be your recruiter? What have been Fritz biggest learnings on continuously attracting the best talent? Why does Fritz believe that it is BS that one should not celebrate fundraising? Ultimately, what does Fritz elieve fundraising signifies?

5.) ClassPass has expanded to 34 markets over the last few years, how does Fritz determine when is the right time to pour fuel on the fire? What are the 2 fundamental questions one must ask before you do? Does Fritz believe that aggressive growth and capital efficiency are mutually exclusive? How does Fritz think about capital efficiency with ClassPass today?

Items Mentioned In Today's Show:

Fritz's Fave Book: Endurance: Shackleton's Incredible Voyage to the Antarctic

As always you can follow Harry, The Twenty Minute VC and Fritz on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

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20 VC 048: What Do VC's Really Add To Startups with Christian Claussen, Managing Partner @ Ventech

20 VC 048: What Do VC's Really Add To Startups with Christian Claussen, Managing Partner @ Ventech

Quote of the Day: "Capital is a crappy differentiator". Dustin Dolginow Christian Claussen is a Managing Partner with Ventech, a VC firm with offices in Munich and Paris. He has 16 years of experience investing in innovation and he leads Ventech investment activities in the German-speaking regions of Europe. He serves as a board member for Picanova and TV Smiles. In today's amazing episode with Christian we learn: Which value adds are most important for founders to look for? How can Founders determine whether VCs will carry out on their 'Value Add'? What are the signs of VC bulls***? Will we see all VCs transition to Andreesen Horowitz service based VC model? How have VCs offerings to startups changed over time? What advice would Christian provide to founders entering a round of funding? Items Mentioned in Today's Show: Christian's Favourite Book: Phillip Roth: Everyman Christian's Article on VC Value Add Speex: Online Language Training That Really Works Andreesen Horowitz As always you can follow Harry and The Twenty Minute VC on Twitter here!

24 Juni 201522min

20 VC 047: 4 Ways Investors Find Great Startups with Rob Moffat, Principal @ Balderton Capital

20 VC 047: 4 Ways Investors Find Great Startups with Rob Moffat, Principal @ Balderton Capital

Rob Moffat is Principal at Balderton Capital, one of London's leading VC firms. At Balderton Rob specialises in Fintech, Martech, Gaming and Marketplaces. Rob is currently a board director or observer with six portfolio companies: Qubit, Wooga, Housetrip, Carwow, Rentify and Nutmeg. Other investments Rob has been involved with at Balderton include Citymapper, Top10, Scoot and Archify. Prior to joining Balderton Rob worked for Google in London, as a Manager in the European Strategy and Operations team. He started his career with five years in strategy consulting with Bain, working mostly with financial services clients. In today's amazing discussion with Rob we discover: What characteristics make a great VC? How VCs assess incoming business plans and investment opportunities? The biggest problem facing Rob today, as Principal at Balderton? How the structure of VC firms is changing to a service based environment? Does Crowdfunding pose a threat to VC as a alternative method of finance? For individuals wanting to move into Venture, what can they do to optimise their employability in the VC world? Items Mentioned in Today's Show: Rob Moffat: Medium Rob's Favourite Book: The Circle: Dave Eggers Crowdcube Just Park Nutmeg: Online Investment Management As always you can follow Harry, Rob and The Twenty Minute VC on Twitter here!

22 Juni 201523min

20 VC 046: How VCs Evaluate Investment Opportunities with Alan Chiu, Partner @ XSeed Capital

20 VC 046: How VCs Evaluate Investment Opportunities with Alan Chiu, Partner @ XSeed Capital

Alan Chiu is a Partner at XSeed Capital, with a strong background in enterprise software and data storage. Alan is currently Vice President for Stanford Angels & Entrepreneurs, an alumni association that seeks to strengthen Stanford’s startup community by fostering relationships among entrepreneurs and alumni investors. Prior to XSeed, Alan was previously Director of Product Management at Bycast (acquired by NetApp), and was engineering manager at Creo, which was acquired by Kodak for $1B in cash. In todays amazing discussion with Alan we discover: What the checklist is for Alan when investing in startups? Why Stanford is the amazing place it is for startups? What is the most important value add that VCs can bring to a startup? When is the right time to pivot and how important is a product roadmap? As always you can follow Harry, Alan and The Twenty Minute VC on Twitter here!

18 Juni 201520min

20 VC 045: From Idea to Pitch with Alan Jones, Founding Investor @ Startmate

20 VC 045: From Idea to Pitch with Alan Jones, Founding Investor @ Startmate

Alan Jones is Chief Growth Hacker at Bluechilli, who have set the incredible goal of building 100 startups by 2016! Alan is also Founding Investor and Mentor at Startmate, an Australian Y Combinator style accelerator. If that wasn't enough Alan also invests and advises through Blackbird Ventures, Pollenizer and Startmate. In Today's Amazing Discussion with Alan We Discover: What you should do when you have a great idea? How to validate a market? How to figure out if it is a viable business? What can non technical co-founders do to get their idea of the ground? What individuals can do to meet technical co-founders? What are the biggest tips for entrepreneurs when facing a pitch? Items Mentioned in Today's Show: Dan Ariely: Predictably Irrational Tzukuri: Bluetooth Wearable Technology TreeHouse Quora OtherLevels: Mobile Marketing Automation Platform

15 Juni 201525min

20 VC 044: Dominating AngelList Syndicates with Doug Scott

20 VC 044: Dominating AngelList Syndicates with Doug Scott

Doug Scott has one of the largest AngelList syndicates, now with an incredible £396,000 in his. Doug is one of first investors in Techstars, Ignite.io and Entrepreneurs First in Europe ( still an investor in all 3 ). Prior to angel investing Doug founded several internet companies based in the UK, carrentals.co.uk - over 1 million rentals, discountvouchers.co.uk - 6 million subscribers, timetobreak.com - over 5 milion page views per day. In today's discussion Harry and delves into what Doug really expects from founders, how Doug would like to be pitched by prospective startups, is AngelList challenging the VC model, what investors and startups can expect from Doug's syndicate, his biggest tip to an aspiring entrepreneur and much more... Items Mentioned in Today's Show: Doug's AngelList Syndicate, Gil Dibner's AngelList Syndicate, Tim Jackson AngelList Syndicate Oxygen Accelerator, Jon Bradford, Springboard Cashkaro, Meals, Lifebox, Chew You can follow Harry, The Twenty Minute VC and Doug on Twitter here!

11 Juni 201527min

20 VC 043: How To Be A VC Analyst and Lessons From Union Square and First Round with Charlie O'Donnell, Founder @ Brooklyn Bridge Venture

20 VC 043: How To Be A VC Analyst and Lessons From Union Square and First Round with Charlie O'Donnell, Founder @ Brooklyn Bridge Venture

Charlie O'Donnell is the Founder and Sole Partner @ Brooklyn Bridge Ventures, the first venture capital fund based in Brooklyn. Prior to founding Brooklyn Bridge, Charlie worked at the prestigious First Round Capital, with the likes of Josh Koppelman and Union Square Ventures with Fred Wilson. If that wasn't enough Charlie is one of only a dozen to be named to Business Insider's 100 Most Influential People in NY Tech five or more times and has served on the founding board of the New York Tech Meetup and is one of the group's first 100 members. His blog, This is Going to Be BIG!, is one of the ten most widely read VC blogs in the country with over 8,000 readers. Among the many discussions Harry and Charlie delve into how to enter the VC job industry, how the seed stage fund raising environment is behaving, what Charlie learnt from Union Square and First Round, tactics that individuals can do to increase their own branding, Charlie's views on investing in hardware, investing in Kickstarter backed companies, the next five years for Charlie, what has blown Charlie's mind in the last four weeks, the marketing possibilities of Instagram for startups and much more... Items Mentioned in Today's Show: How To Be A VC Analyst: Charlie's Post Charlie's Hardware Portfolio Companies: Ringly, GoTenna, Canary Home Security Hungryroot: Farm Fresh 7 Minute Meals Tinkergarten

8 Juni 201527min

James Altucher: Ideas, Investing and Entrepreneurs

James Altucher: Ideas, Investing and Entrepreneurs

James Altucher is a successful entrepreneur, investor, board member, and the writer of 11 books including the recent WSJ Bestseller, "Choose Yourself!" (foreword by Dick Costolo, CEO of Twitter). He has started and sold several companies for eight figure exits. He's on the board of a billion $ revenue company, has written for The Financial Times, The New York Observer, he's run several hedge funds, venture capital funds, and is a successful angel investor, having invested in over 30 startups alongside Silicon Valley's Top VC's. In today's conversation Harry and James discuss how to continuously come up with great ideas, what tasks activate the 'idea muscle', what tactics have produced the greatest investing returns for James, what traits do great founders have, how has James' investing strategy developed, what is the future for Uber, the scam that is University and much more... Items Mentioned in Today's Show: Alternatives to College and Careers: Learn to Become an iOS Developer, Learn to Become a Web Developer James Altucher: Choose Yourself! Tim Ferriss: AngelList Syndicate Shyp: The Easiest Way To Ship Your Stuff

4 Juni 201528min

Jason Calacanis: The World's Greatest Angel Investor

Jason Calacanis: The World's Greatest Angel Investor

Jason Calacanis is arguably the world's greatest angel investor with over 60 investments including the likes of Uber (1st round), ThumbTack and Calm, just to name a few. Jason is also the Host of This Week In Startups, the world's biggest startup podcast and Founder of Launch and Launch Festival, the world's biggest startup festival. In this interview we discuss, how Jason invested in Uber's 1st round, what Jason looks for in startups, how Jason can tell whether a founder has got what it takes, which VC's Jason most likes to work with, which entrepreneurs Jason most likes to invest in, what pisses Jason off more than anything, what inspires him more than anything, what industries will see the most disruption in the coming years, what makes a great entrepreneur and how startups can position themselves best for entering a round of funding. Enjoy! All show notes, links and resources from this episode can be found at http://www.thetwentyminutevc.com and you can follow Harry, Jason and The Twenty Minute VC on Twitter. Mentioned in Today's Show: Bill Gurley, Jonathan Triest, Chamath Palihapitiya Bento: Delicious Asian Food Delivered in Minutes Butterfleye: Google's Nest Meets Dropcam Birdi: Better Than A Smoke Detector

1 Juni 201555min

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