![20VC: SPACs. What Are They? Why Now? How Do They Change The Venture Landscape? Are They Better Than IPOs & Direct Listings? How Should Founders Think About Them? Kevin Hartz & Troy Steckenrider @ A*](https://podmestorage.blob.core.windows.net/podcast-images/3DDAB1F2913F630E7D40CD56EBFFAC72_small.jpg)
20VC: SPACs. What Are They? Why Now? How Do They Change The Venture Landscape? Are They Better Than IPOs & Direct Listings? How Should Founders Think About Them? Kevin Hartz & Troy Steckenrider @ A*
Om avsnittet
Kevin Hartz is Co-Founder & Partner @ A*, a newly listed special acquisition company which raised $200M to acquire and take public a tech startup. Kevin is also the Co-Founder, former CEO, and Chairman Eventbrite (NYSE: EB). Before Eventbrite, Kevin was the Co-Founder & former CEO of online money transfer service, Xoom (acquired by PayPal for $1.1B). Kevin is also one of the most successful early-stage investors in the business with a portfolio including the likes of Airbnb (Seed, Series A), Uber (Series B), Pinterest (Seed, Series A), Trulia (first check) and PayPal (Seed). Troy Steckenrider is Kevin's co-founder and Partner @ A*. Prior to A*, Troy was COO @ ZeroDown changing the landscape for homeownership with $136M in funding. Before ZeroDown, Troy spent 5 years at Opendoor as Director of Capital Markets. Before that hyper-growth experience at Opendoor, Troy enjoyed roles at both Bain Private Equity and McKinsey. In Today’s Episode You Will Learn: 1.) How Troy and Kevin came together to co-found A*? What is a SPAC? What are Kevin and Troy looking to achieve with the SPAC? 2.) What does Kevin believe are the primary drivers for the rise in SPAC's over the last few years? How will they change the structure of both the VC and startup industry? How will the SPAC landscape evolve over the next few years? What is the biggest challenge they face? 3.) Why does Kevin believe that the fee structure for SPACs is egregious? How would they like to change the incentive structure? How does the timeline for a SPAC transaction compare to that of an IPO? How does the fee structure compare when comparing SPACs to banks in IPOs? 4.) Why did Kevin and Troy choose $200M for the right size for their first SPAC? How does the size of the SPAC determine the type of company the SPAC will merge with? What are Kevin and Troy looking for in their partner company? 5.) What does the fundraising process look like for a SPAC? How do SPAC sponsors deal with the challenge that LPs call pull out if they do not like the proposed partner deal? When evaluating SPACs, what do investors look to invest because of? What makes A* special? Items Mentioned In Today’s Show: Troy’s Fave Book: Churchill: Walking with Destiny As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
Senaste avsnitten
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/B7BA4E0F084884F2E8C66FA032321D29_small.jpg)
20VC: AI Scaling Myths: More Compute is not the Answer | The Core Bottlenecks in AI Today: Data, Algorithms and Compute | The Future of Models: Open vs Closed, Small vs Large with Arvind Narayanan, Professor of Computer Science @ Princeton
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/3F3B9F14889A632D24296FCD4D78EF68_small.jpg)
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/D8B554F081E203B4938144CAFB704161_small.jpg)
20Sales: How Snowflake Built a Sales Machine | Why You Have to Hire a CRO Pre-Product | Why Most Sales Reps Do Not Perform | Why Hiring Panels are BS in Interviews | Why Remote Sales Reps Do Not Care About Their Development with Chad Peets
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/2C632EEA8C1C4C3B135201371FDED830_small.jpg)
20VC: Five Lessons Scaling Toast to $14BN Market Cap | The Biggest Mistakes Founders Make in Fundraising, Hiring and Selling with Aman Narang, CEO @ Toast
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/F6B0D18112EA33ADE179A29F2B3EE4D1_small.jpg)
20VC: Chips, Models or Applications; Where is the Value in AI | Is Compute the Answer to All Model Performance Questions | Why Open AI Shelved AGI & Is There Any Value in Models with OpenAI Price Dumping with Aidan, Gomez, Co-Founder @ Cohere
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/827586D579246AC74D0C248C3B05A27A_small.jpg)
20VC: Capital G's Laela Sturdy on What Stripe, UiPath and Duolingo Taught Me About Company Building and Investing | How to Analyse Valuation, Market Timing, Sizing and Exiting | Life Inside Alphabet's $7BN Growth Fund
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/328E2ABA4F4327F536D7DECD1E1CEDCD_small.jpg)
20VC: Lessons from Mark Zuckerberg, Keith Rabois & Tobi Lütke | Why Remote is a Bad Idea for 90% of Companies | The Framework for How Shopify Builds Product Today | What Humans Get Wrong About Marriage and Kids with Kaz Nejatian, COO @ Shopify
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/06FC4DFE3EE62C53761E4B4405B0A2D7_small.jpg)
20VC: Sequoia's Shaun Maguire: Will We See WW3 Shortly | Why DEI is a Cancer for Society | Why Iran is the World's Greatest Evil | Why Trump is the Only Hope for Peace in the Middle East | Trump vs Harris: Who Wins & What Happens
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/6C77AB33DAF422738ECAFBF352A8C40B_small.jpg)
20VC: Why VC is Distorting a Generation of SaaS Companies & With $900M in ARR and a Market Cap of $2.6BN is Lightspeed the Most Misunderstood Public Company with Dax Dasilva, Founder & CEO @ Lightspeed
![The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://podmestorage.blob.core.windows.net/podcast-images/305C182977C13229A8287973084C0D99_small.jpg)