20VC: Binary's Justin Caldbeck on Specialisation Being Key To Success In VC, The Biggest Problem In VC Today and Why The Future Is A Moneyless Barter Economy

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.