20VC: Dave Morin on Why Building A Fund Is Like A Company, Why Venture Is A Craft & The Journey To Establish Slow Ventures

Nabeel Hyatt is a venture partner at Spark Capital where he invests in entrepreneurs using that rare combination of design and technology to transform markets. He is currently on the board of Spark Capital's investments in Cruise (acquired by General Motors), Fig, Harmonix, Postmates, Proletariat, and Thalmic Labs. Nabeel was previously cofounder and CEO of Conduit Labs, which was sold to Zynga in 2010, where he then became General Manager up through the IPO. Prior to that he was variously cofounder, head of product, and CEO at a variety of hardware and software companies including MIT Media Lab spin-out Ambient Devices, Teamtalk (BSkyB), and Interphase. In Today's Episode You Will Learn: 1.) How did Nabeel make his way into the world of VC? 2.) What are the biggest lessons Nabeel can apply from his time in the trenches to being a VC at Spark? How has his investment strategy and decision making changed over time? 3.) What were the biggest takeaways for Nabeel as an observer and investor in Oculus? 4.) What is the story behind Spark's investment in Cruise (recently acquired by GM)? How did Nabeel come to meet Kyle and the team? What was the product like? How did it evolve? 5.) What does Cruise's acquisition mean for the autonomous car industry? What are the inherent challenges for the industry as a whole? How will they be overcome and what timeline are you placing on the industry to come into fruition? Items Mentioned In Today's Episode: Nabeel's Fave Blog: AVC Nabeel's Most Recent Investment: Fig As always you can follow The Twenty Minute VC, Harry and Nabeel 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

8 Juni 201626min

Bijan Sabet is General Partner @ Spark Capital where he primarily invests in digital canvases and online communities for people at work and at play. Bijan led early investments for Spark in the likes of Twitter, Tumblr, Foursquare, OMGPOP and Runkeeper just to name a few. Before becoming an investor, Bijan led product management and business development at GameLogic (acquired by Scientific Games), Moxi Digital (acquired by Digeo) and WebTV Networks (acquired by Microsoft Corporation). In Today's Episode You Will Learn: 1.) How did Bijan make his way into the world of VC? 2.) How did the Twitter and Tumblr deals come about? What made you say yes? 3.) Looking at Bijan's thesis, is it true that Bijan has a preference for first time founders? What are the commonalities of all great first time founders? 4.) Often first time founders nail product market fit but struggle to scale the operations to suit the growth of the product. How does Bijan as a VC lend to this situation? 5.) Does Bijan agree with Fred Wilson's assessment of the consumer downturn? Why does Bijan think that David must beat Goliath in the end? Items Mentioned In Today's Episode: Bijan's Fave Blog: Ready Player One Bijan's Fave Blog: AVC Bijan's Most Recent Investment: Lily: Your Throw and Go Camera As always you can follow The Twenty Minute VC, Harry and Bijan 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

6 Juni 201624min

Jessica Mah is Founder and CEO of inDinero, which she started back in 2010 to help entrepreneurs with all their accounting and tax needs after going through the same challenges with her own businesses. Jessica has grown inDinero from zero to multi-million dollar revenues with over 100 full-time employees and has been featured in the Forbes and Inc 30 Under 30 Lists. The company has raised over $10M to date and is growing rapidly. Her goal is grow inDinero into being the leading accounting provider for businesses. In Today's Episode You Will Learn: 1.) How did Jessica come to found Indinero, an SMB accounting startup when she was at University? 2.) Why did Jessica decide to raise funding from angels over VC's? What were the benefits of this? 3.) Why does Jessica believe that institutional capital is never patient capital? What additional value add do angels bring that VCs and HNW's do not bring? 4.) How does Jessica like to involve her investors in the hiring process? How can founders do this and why should they? 5.) Why does Jessica believe it is better to have a board that works for the founder and not the other way round? Does this not lead to conflict? Items Mentioned In Today's Episode: Jessica's Fave Book: A Guide To The Good Life As always you can follow The Twenty Minute VC, Harry and Jessica 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

3 Juni 201624min

Nikhil Basu Trivedi is an early stage investor with Shasta Ventures, where he focuses on consumer, mobile and SaaS. Prior to joining Shasta, Nikhil was a member of the Insight Venture Partners team in NYC. Before making the move into venture, Nikhil co-founded Artsy in his sophomore year at Princeton University, Artsy now employs over 100 people and has raised over $50m in venture financing. One of Nikhil's main passions is self driving cars and so today's show will be centred around the proliferation of autonomous vehicles and what that means for us as a society? In Today's Episode You Will Learn: 1.) How did Nikhil come to be a VC in SF having spent his early years in the UK? 2.) Why is Nikhil so excited about self-driving cars? What is the enabler that is allowing this mass rise of the autonomous vehicle? 3.) What happens in a world of little mechanical engineering at all, where repairs can be achieved with software updates? How does this change the complexity of production? How does this change what the supply chain might look like? How does this change the capital structure required? 4.)How does the rise of the autonomous vehicles effect the sharing economy? Is Nikhil bullish on Lyft, Uber, Didi? With on demand, when will we reach a point of equilibrium when the supply of drivers that gets drawn in and the price that attracts consumers will be equivalent? 5.) Who is the leader, is this a winner take all, will the acquisition of GM and Cruise mean a dominance? Who has Nikhil been impressed by? Items Mentioned In Today's Episode: Nikhil's Fave Book: Leading by Sir Alex Ferguson and Michael Moritz Nikhil's Fave Blog: Mattermark Daily, CB Insights Nikhil's Most Recent Investment: Tally As always you can follow The Twenty Minute VC, Harry and Nikhil 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

1 Juni 201627min

Matt Turck is Managing Director of FirstMark Capital where he invests across a broad range of early-stage enterprise and consumer startups. Prior to FirstMark, he was a Managing Director at Bloomberg Ventures, the investment and incubation arm of Bloomberg LP. Previously, Matt was the co-founder of TripleHop Technologies, a venture-backed enterprise search software startup that was acquired by Oracle. Matt organizes two large monthly events, Data Driven NYC (focuses on Big Data and AI) and Hardwired NYC(focuses on IOT, AR/VR, drones). At Firstmark, Matt has made investments in the likes of Sketchfab, Sense 360 and the much loved X.ai with Amy Ingram as your personal secretary. In Today's Episode You Will Learn: 1.) How did Matt make his way into the world of VC? 2.) What does big data really mean? With the cool kids in the data world moving on to obsessing over AI, is big data still a 'thing' in 2016? 3.) Why is now the time for big data? What has enabled big data to have sudden mass utility across a variety of applications? 4.) How does Matt view the integration of big data and AI? Is AI helping big data deliver it's promise? 5.) How can we combat the incumbency advantage of large companies owning the majority of datasets? How can startups access similar datasets? Items Mentioned In Today's Episode: Matt's Fave Blog: AVC, Chris Dixon, Brad Feld, Wait But Why Matt's Most Recent Investment: Hyperscience As always you can follow The Twenty Minute VC, Harry and Matt 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

30 Maj 201630min

Jessica Lessin founder and Editor in Chief of The Information. Prior to The Information, she covered Silicon the technology industry for eight years at the Wall Street Journal where she wrote nearly 1,000 articles for the paper, consistently breaking news about major products, management changes and strategy shifts. Jessica was also part of a team that was a finalist for the Pulitzer Prize. Now you can follow both Jessica and me on Snapchat on @jlessk and @hstebbings In Today's Episode You Will Learn: 1.) How did Jessica come to found The Information following The Wall Street Journal? 2.) Marc Andreesen: 'print journalism is converging in quality and technique with blogs and Wikipedia'. Does Jessica agree with this? Has revisability has led to a lower quality initial publication? 3.) How does Jessica view the competitive landscape for journalism today? Who are competitors and what would Jessica say is complimentary to The Information?? 4.) We have seen the decentralization away from the central forms of authority in journalism. What effect has this decentralization had on distribution? Competition? Market size? 5.) What is the monetisation strategy for The Information? Why choose that strategy over the more prevalent others such as advertising? Items Mentioned In Today's Episode: Jessica's Fave Book: Ben Bradlee: A Good Life Jessica's Fave Blog: Doug Young As always you can follow The Twenty Minute VC, Harry and Jessica 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

27 Maj 201626min

Sam Lessin is a Partner at Slow Ventures who have made investments in the likes of Facebook, Twitter, Mattermark, AngelList,Dropbox and many more. On top of this, Sam is also the Founder and Co-CEO at Fin, which is basically like Siri Echo or Google now except it actually works, truly a phenomenal product. Prior to Fin and Slow, Sam was VP of Product Management at Facebook following the acquisition of his company, Drop.io by Facebook in 2010. Sam is also an intern at The Information where he reports directly to the boss Jessica Lessin! In Today's Episode You Will Learn: 1.) How did Sam come to found Fin and what was his route into VC with Slow? 2.) What are the fundamental shifts that have occurred in the world of tech? How has this affected the wider tech and investing ecosystem? 3.) Will the transition to bots and conversational interfaces represent a major point of disruption or more of an evolution in the interface paradigm? 4.) How can bots establish the same relationship and stickiness with the user as apps? In a world of bot domination where strong data sets is the ultimate weapon, are we not at a fundamental incumbency disadvantage? How can the platforms react to this? 5.) What will the effect of self driving cars be on society? How long before this was be possible? How does the sharing economy and capitalism survive in unison? Items Mentioned In Today's Episode: Sam's Fave Book: The Three-Body Problem Sam's Fave Blog: The Information Sam's Most Recent Investment: Common As always you can follow The Twenty Minute VC, Harry and Sam 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

25 Maj 201627min

Manu Kumar founder and Chief Firestarter at K9 Ventures, a pre-seed and seed stage micro-VC fund based in Palo Alto, according to K9 they invests 'frighteningly early' and like to be the first institutional capital invested in a startup. K9 is an investor in Lyft, Twilio, Occipital, eShares, and their companies have been acquired by the likes of Linkedin, Facebook, Dropbox, Paypal and more. Prior to K9, Manu was either the founder or co-founder of 4 companies, 3 of which with successful exits and the 4th being the fantastic eshares! In Today's Episode You Will Learn: 1.) How did Manu come to found K9 and what was his route into VC? How does Manu define entrepreneurialism and how did this play out in his early life? 2.) "The best buys are found in things most people don't understand or believe in." How does this play out in Manu's investment strategy? ? 3.) "The riskiest thing is the belief there's no risk." How does risk assessment feature in Manu's investment mentality? How does Manu transition this to your portfolio construction? ? 4.) Josh Koppelman states "What has to be remembered is the defining role of price." How much of a role does valuation play in Manu's investment decision making process? 5.) "An absence of losses can give you a great start toward a good outcome." As a seed fund how does Manu approach inevitable losses? How does Manu try and minimize mortality rate? Items Mentioned In Today's Episode: Manu's Fave Book: The Cuckoo's Egg by Clifford Stoll Manu's Fave Blog: Strictly VC, Dan Primack: Term Sheet Manu's Most Recent Investment: GradeScope As always you can follow The Twenty Minute VC, Harry and Manu 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! The Twenty Minute VC is brought to you by Leesa, the Warby Parker or TOMS shoes of the mattress industry. Lees have done away with the terrible mattress showroom buying experience by creating a luxury premium foam mattress that is order 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/VC and enter the promo code VC75 to get $75 off!

23 Maj 201623min