20VC: Homebrew's Satya Patel on The Key Components of Being A Great VC & The 3 Main Reasons Startups Fail At Seed

Paul Martino is a Co-Founder and General Partner @ Bullpen Capital, the fund that finds overlooked companies by understanding biases in venture capital. Paul has led several of Bullpen's key investments including FanDuel, Namely, Ipsy, SpotHero, Classy, and Airmap. Prior to forming Bullpen, he was an active angel investor and personally invested in the first rounds of Zynga, TubeMogul, and uDemy. Before becoming an investor, Paul was the founder of four companies including Ahpah Software (a computer security firm acquired by InterTrust); Tribe (one of the world's first social networks), and Aggregate Knowledge (a big data advertising attribution company acquired in 2014 by Nuestar). In Today's Episode You Will Learn: 1.) How Paul made his way into early stage investing from founding and exiting 4 companies? What was the data that made Paul excited for venture? 2.) First has Paul witnessed the Series A Crunch? What does the crunch mean for founders? How should they navigate it and approach burn rates? How does this affect the fundraising time horizon? How does this affect how much startups should raise? 3.) How does the crunch affect valuation? How does this affect investor expectations of startups pitching them? How does Paul respond to Mike Maples' statement, 'bridge rounds are often because startups have simply not hit the metrics for Series A'? 4.) What would Paul most like to see change in the venture ecosystem? Why does Paul not believe there are enough innovative funds? Why is it so hard for innovative funds to raise from traditional LPs? 5.) What would Paul most like to see change in the LP ecosystem? What was the affect of Accel's Facebook fund on the LP community? Why is that such a problem? Items Mentioned In Today's Episode: Paul's Fave Blog: Matt Ocko Paul's Fave Book: The New Thought Police Paul's Most Recent Investment: Cleanify As always you can follow The Twenty Minute VC, Harry and Paul on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com. So many problems start with your head: stress, depression, anxiety, fear of the future. What if there was some kind of exercise you could do, that would help you get your head in shape. That's where the Headspace app comes in. Headspace is meditation made simple. The Headspace app provides guided meditations you can use whenever you want, wherever you want, on your phone, computer or tablet. They have sessions focused on everything from dealing with stress and depression, to helping you eat more mindfully. So download the Headspace app and start your journey towards a happier, healthier life. Learn more at headspace.com/20vc. That's headspace.com/20vc.

16 Nov 201637min

Rick Marini is a serial entrepreneur and angel investor with over 45 investments in early stage startups. Some of Rick's investments include the likes of Snapchat, AngelList, Luxe and Nuzzel, just to name a few. Prior to his prolific angel investing career, Rick was the Founder & CEO of BranchOut - the largest professional network leveraging the social graph with more than 800 million profiles. BranchOut raised $49 million in funding from Accel Partners, Redpoint Ventures, Mayfield Fund and more. BranchOut was acquired in 2014 by One-Page. Previously, Rick was also the Founder & CEO of Talk.co. Talk.co was acquired in 2014 by Hearst Corporation. Prior to BranchOut and Talk.co, Rick was the Co-Founder, of Tickle. Tickle operated as a profitable company with almost $40 million of revenue. Tickle was acquired in 2004 by Monster Worldwide for $100 million. In Today's Episode You Will Learn: 1.) How Rick made his way into early stage investing from founding and exiting 4 companies? 2.) What is Rick's approach to pre-investment value add? Should investors hold it back and wait until the term sheet is signed? What have been some of Rick's biggest lessons from Naval @ AngelList? 3.) Naval Ravikant says, 'you need to make 30 investments before you know what you are doing'. Does Rick agree with this and can this be applied to the venture ecosystem? 4.) How does Rick approach the common angel problem of dilution? What are his thoughts on getting squeezed out by VCs and growth investors in later rounds? 5.) How does Rick measure his success and value as an angel? What are Rick's biggest concerns when viewing a prospective investment? Items Mentioned In Today's Episode: Rick's Fave Blog: Mattermark Daily Rick's Fave Book: Hero With A Thousand Faces Rick's Most Recent Investment: True Facet As always you can follow The Twenty Minute VC, Harry and Rick on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com. So many problems start with your head: stress, depression, anxiety, fear of the future. What if there was some kind of exercise you could do, that would help you get your head in shape. That's where the Headspace app comes in. Headspace is meditation made simple. The Headspace app provides guided meditations you can use whenever you want, wherever you want, on your phone, computer or tablet. They have sessions focused on everything from dealing with stress and depression, to helping you eat more mindfully. So download the Headspace app and start your journey towards a happier, healthier life. Learn more at headspace.com/20vc. That's headspace.com/20vc.

14 Nov 201634min

Jay Desai is Co-Founder and CEO of PatientPing, a company that connects health care providers across the country with real-time notifications to seamlessly coordinate patient care. They have raised funding from some of the best in the world including Google Ventures, First Round Capital and SV Angel. Prior to co-founding PatientPing, Jay worked at the Center for Medicare and Medicaid Innovation where he helped design and implement ACO, Bundled Payment, and other innovative payment models funded by the Affordable Care Act. Jay's previous experience includes Triad Isotopes, Parthenon Capital, and Lehman Brothers. In Today's Episode You Will Learn: 1.) How Jay came to found PatientPing? What was the a-ha moment for him? 2.) How does Jay assess the chemistry and alignment of VCs and their portfolio founders? How can founders detect if the VC is right for them? 3.) We always hear the importance of focus. How does Jay decide the single most important thing? Does this vary with stage and size? How does Jay look to balance such focus with a broader vision for the company? 4.) How important is internal entrepreneurialism for Jay? How does that play out in his management style? What boundaries need to be set? Does Jay agree with Suster, 'constraint enforces creativity'. 5.) Why does Jay have not internal budgets at PatientPing? What are the benefits? How does that affect the team's approach to spending, responsibility and accountability? Items Mentioned In Today's Episode: Jay's Fave Blog: The Morning Consult Jay's Fave Book: Pastoralia As always you can follow The Twenty Minute VC, Harry and Jay on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com. So many problems start with your head: stress, depression, anxiety, fear of the future. What if there was some kind of exercise you could do, that would help you get your head in shape. That's where the Headspace app comes in. Headspace is meditation made simple. The Headspace app provides guided meditations you can use whenever you want, wherever you want, on your phone, computer or tablet. They have sessions focused on everything from dealing with stress and depression, to helping you eat more mindfully. So download the Headspace app and start your journey towards a happier, healthier life. Learn more at headspace.com/20vc. That's headspace.com/20vc.

11 Nov 201624min

Rudina Seseri is Founder and Managing Partner of Glasswing Ventures, Boston's own AI focussed fund. Prior to Glasswing, Rudina was a Partner at Fairhaven Capital, sering as lead investor and Director on the Boards of Celtra, CrowdTwist, Jibo, SocialFlow and Statisfy. Before Fairhaven, she was a Senior Manager in the Corporate Development Group at Microsoft where she was responsible for sourcing, structuring, and negotiating Microsoft's acquisitions and strategic investments. Rudina has served as Entrepreneur-In-Residence for Harvard Business School for 4 consecutive years and is an advisor for L'Oréal USA Women in Digital. In Today's Episode You Will Learn: 1.) How Rudina made her way from Microsoft into VC with Fairhaven and then Glasswing? 2.) Why is now the time for an AI fund? What technological advances have happened to allow narrow artificial intelligence to come to the foreground in such a prominent way? 3.) Does the potential incumbency advantage in AI concern Rudina? How can founders look to mitigate this and gain access to substantial data sets? 4.) In terms of disruption cycles, where does Rudina believe we are in current cycles? How does this affect adoption cycles of technology? Why will this be the fastest ever? 5.) Predictions: How long till artificial super intelligence comes to the forefront? How long until mass adoption of driverless cars? Will this be a winner take all market? Items Mentioned In Today's Episode: Rudina's Fave Blog: Paris 1919 Rudina's Fave Book: Wait But Why As always you can follow The Twenty Minute VC, Harry and Rudina on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com. So many problems start with your head: stress, depression, anxiety, fear of the future. What if there was some kind of exercise you could do, that would help you get your head in shape. That's where the Headspace app comes in. Headspace is meditation made simple. The Headspace app provides guided meditations you can use whenever you want, wherever you want, on your phone, computer or tablet. They have sessions focused on everything from dealing with stress and depression, to helping you eat more mindfully. So download the Headspace app and start your journey towards a happier, healthier life. Learn more at headspace.com/20vc. That's headspace.com/20vc.

9 Nov 201629min

Justin Caldbeck is a Co-Founder and Managing Partner at Binary Capital, one of Silicon Valley's leading early stage funds focussed on the consumer space with $300m AUM. Prior to founding Binary, Ryan was a Managing Director @ Lightspeed Venture Partners where he made investments in the likes of GrubHub, TaskRabbit, SocialCam and many more incredible companies. Before joining Lightspeed, Justin was a Partner at Bain Capital Ventures and was responsible for launching the firm's West Coast office. In Today's Episode You Will Learn: 1.) How Justin made his way into venture and came to found Binary Capital? 2.) Question from Binary LP, Judith Elsea: Has it been harder to win deals at Binary without the big and established fund names behind you? How has the conversation with founders changed? 3.) Why is Justin so excited by what he calls, 'vibrant moneyless commerce platforms? What has done previously in the space? Why is it different now? 4.) Why is Justin so bullish on the often over-hyped 'on-demand' economy? Which verticals provide the best opportunities to provide an on-demand experience without the need for local infrastructure? 5.) Friends and Family Round: Ryan Caldbeck @ CirleUp: What VCs does Ryan most admire and respect? 2.) What makes 1 VC a great board member and another not? Tiffany Zhong: What are your biggest misses? 2.) What are the biggest issues in VC? Items Mentioned In Today's Episode: Justin's Fave Book: Grit by Angela Duckworth Justin's Most Recent Investment: Recharge As always you can follow The Twenty Minute VC, Harry and Justin on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com. So many problems start with your head: stress, depression, anxiety, fear of the future. What if there was some kind of exercise you could do, that would help you get your head in shape. That's where the Headspace app comes in. Headspace is meditation made simple. The Headspace app provides guided meditations you can use whenever you want, wherever you want, on your phone, computer or tablet. They have sessions focused on everything from dealing with stress and depression, to helping you eat more mindfully. So download the Headspace app and start your journey towards a happier, healthier life. Learn more at headspace.com/20vc. That's headspace.com/20vc.

7 Nov 201629min

Jerry Colonna is a Founder @ Reboot, the coaching company that helps some of the world's greatest entrepreneurs and investors with the internal ups and downs in their life and support the growth they need to improve their performance. Prior to Reboot, Jerry was a Partner @ JP Morgan. Before that Jerry was a VC, having launched Flatiron partners in 1996 with his partner, Fred Wilson. Flatiron became on the of the most successful early stage investment firms in New York with investments in the likes of Geocities, Gamesville and The New York Times Digital. In Today's Episode You Will Learn: 1.) How did Jerry enter the world of VC and then make the transition to be the ultimate CEO/VC coach, aka, 'The CEO Whisperer'? 2.) What is Jerry's first step for anyone looking to self-evaluate in what Jerry calls, 'radical self-inquiry'? 3.) Once self-evaluated, how can one look to be their true self in a world that is not necessarily accepting of such vulnerability, compassion and emotion, for example, VC and startups? 4.) How does Jerry evaluate the current crop of VCs in terms of them being their inner self to the external world? Why is Jerry so optimistic? 5.) Questions from Brad Feld: 1.) What should VCs be spending more time on? 2.) If Jerry could give one piece of advice to VCs what would it be? Items Mentioned In Today's Episode: Jerry's Fave Blog: Fred Wilson: AVC, Brad Feld: Feld Thoughts, The School of Life Jerry's Fave Book: When Things Fall Apart As always you can follow The Twenty Minute VC, Harry and Jerry on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com.

4 Nov 201625min

Clinton Foy is General Partner @ Crosscut Ventures, one of LA's leading VC funds. Prior to Crosscut, Clinton was COO, @ Square Enix, a $2 billion video game publisher, he recruited a top-tier team and built the mobile, social, and online business in North and South America. He managed licensing and strategic partnerships for SPACE INVADERS, FINAL FANTASY, and TOMB RAIDER franchises. In seven years he oversaw more than 100 product launches across a dozen platforms and grew annual revenues to more than $300 million. Before Square Enix, Clinton practiced law representing clients including Microsoft, Sony, and Yahoo. In Today's Episode You Will Learn: 1.) How did Clinton make the transition from COO at $Bn games company to being a VC in LA? 2.) Question from Crosscut LP: Judith Elsea: What were the biggest takeaways from operating that make Clinton a better VC? What are the biggest surprises about being a VC? What are the biggest adjustments Clinton have had to make to be a VC? 3.) How important does Clinton feel network building and relationships are to being a good investor? Is this a market of predators? Can the 'nice guys' sometimes win? How does Clinton look to relationship build in a natural and organic way? 4.) On the operations side, Clinton helped Esports company, The Immortals raise a seed round. How was that experience for Clinton? What were the challenges? Is investing in an e-sports team a venture investment with potential $Bn outcome? 5.) What is the reason for the mass rise in Esports and Esports investing? How does the rise of mobile affect this? What is the future of Esports vs traditional sports? Items Mentioned In Today's Episode: Clinton's Fave Blog: Dean Takahashi: Venture Beat Clinton's Most Recent Investment: The Immortals As always you can follow The Twenty Minute VC, Harry and Clinton on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com.

2 Nov 201628min

Mamoon Hamid is a Co-Founder and General Partner at Social Capital, a firm he co-founded in 2011 with the mission to transform society by using technology to solve the world's hardest problems. Mamoon leads the firm's private investing activities which focuses on building breakthrough healthcare, education, financial services, consumer and enterprise software companies. He currently sits on the board of companies that includes Slack, Intercom, Netskope and Greenhouse. Prior to starting Social Capital, Mamoon was a Partner at U.S. Venture Partners (USVP), where he led early stage investments in companies like Box and Yammer. Mamoon started his Silicon Valley career in 1997 at Xilinx where he spent six years in various engineering and marketing roles. In Today's Episode You Will Learn: 1.) How Mamoon made his way into VC and came to found Social with Chamath and Ted? 2.) How did Mamoon approach the team building aspect of Social? What did he look for in his partners and additional team members? 3.) According to Mamoon, what have been the inflection points in the incredible rising story of Social Capital? When has Mamoon's and the team's learnings really increased? 4.) What does Mamoon think of 'The Top 5 US Companies by Market Cap Being Tech Companies'? Why does he believe that there will be more from this cohort than any other cohort? 5.) What are Mamoon's expectations of growth, goals achieved at different stages of the company lifecycle etc? How does this differ according to the market he invests in? Items Mentioned In Today's Episode: Mamoon's Fave Book: Blue Ocean Strategy Mamoon's Most Recent Investment: Front: The Invoice For Teams As always you can follow The Twenty Minute VC, Harry and Mamoon on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. The Twenty Minute VC is proudly sponsored by Luma, Luma is the world's first ever Surround WiFi system that brings speed, security and control to the home network. And Unlike traditional routers, Luma comes in a pack of two or three sleek devices to place in different rooms in your home. Luma then creates a mesh network that work together to create an outrageously-fast, ultra-secure Surround WiFi network. Lastly, Luma's app lets you easily see and control which devices, users and content are on your network. To buy your Luma, simply dead to getluma.com or amazon.com.

31 Okt 201627min