Aired 6 months ago 0:12
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LeBron James, Brandon Ingram and Twenty Three Minutes discussed on KNX Morning News with Dick Helton and Vicky Moore
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Aired 7 months ago 36:30
20VC: Benchmark's Sarah Tavel on Why Investing Success Lies In Small Markets Adjacent To Very Large Ones, Why You Have To Be Judicious On When To Pay Up vs Be More Price Sensitive & Why Crypto Investing Is Like The Early Days of AdTech Investing
Sarah Tavel is a General Partner at Benchmark, one of the world’s leading VC funds with a portfolio including the likes of Twitter, Uber, Snapchat, eBay, WeWork, Yelp and many more revolutionary companies of the last decade. As for Sarah, Sarah has led Benchmark's investments in and currently sits on the boards of Chainalysis and Hipcamp. Prior to Benchmark, Sarah was a Partner at Greylock Partners, where she led Greylock's investment in Sonder and another (unannounced) company. Before Greylock, Sarah was one of the first 35 employees at Pinterest where she led the company's international expansion and aided in the closing of the Series C financing. Sarah was also the product lead for search, recommendations, machine vision, and pin quality and led three acquisitions as she helped the company scale through a period of hyper-growth. In Today’s Episode You Will Learn: 1.) How Sarah made her first foray into the world of venture with Bessemer over 10 years ago? How that led to Pinterest and how she came to be a GP at Benchmark today? 2.) Speaking of Sarah's operating career with Pinterest, Pat Grady said on the show "never has the rate of decay on operating experience been greater". How does Sarah think about and respond to this? How has operating made Sarah a strong investor? What are the drawbacks that this operating experience can present for investors? 3.) Moving to evaluation, Andy Rachleff, Founder @ Benchmark said on the show, "good team poor market, market wins; good market, poor team, market wins. How does Sarah think about the balance between founder vs market? Why is going after big markets so hard? What should investors look for in a market with that in mind? How does Sarah determine the right time to open up adjacent markets? 4.) There has never been a greater supply of capital in the market than today, does Sarah believe we have an excess supply today? Does Sarah agree with her Partner, Peter Fenton, "no good deal is too expensive in hindsight"? How does Sarah assess her own price sensitivity? How does it depend on the opportunity? How has it changed over time? 5.) Having 2,5000 hours on boards, how has Sarah seen herself develop and change as a board member? What have been some of the biggest learning curves? What are the commonalities in the very best board members Sarah works with? how doe the best entrepreneurs manage and use their boards effectively? 6.) Why does Sarah think that crypto today is very much like the world of adtech in the early days? How does Sarah think about the requirement for specialisation in the space? WIll this be a game for the specialised crypto funds or can generalist VC funds compete? Items Mentioned In Today’s Show: Sarah’s Fave Book: Creating the Kingdom of Ends Sarah’s Most Recent Investment: Hipcamp As always you can follow Harry, The Twenty Minute VC and Sarah on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
The Twenty Minute VC
Aired 6 months ago 26:03
20VC: 7 Key Themes To Building A Great Company To IPO, The Right Way To Assess Market Timing & How To Balance Between Speed and Inspection When It Comes To Decision-Making with Patrick Morley, CEO @ Carbon Black
Patrick Morley is the President and CEO @ Carbon Black, the company that combines unfiltered data collection, predictive analytics, and cloud-based delivery to provide superior endpoint protection. Prior to their IPO in April 2018, Carbon Black had raised over $150m in VC funding from the likes of Sequoia Capital, Accomplice, Kleiner Perkins and Highland Venture Partners just to name a few. As for Patrick, under his leadership, he has taken Carbon Black from startup to market leader with over 800 employees. Before Carbon Black, he was CEO of Imprivata Corporation and held senior leadership positions with six venture-backed software companies, including three that had successful IPOs. In Today’s Episode You Will Learn: 1.) How Patrick made his way into the world of startups and came to be CEO @ Carbon Black where he turned a startup into a public company and market leader with 800 employees? 2.) Patrick has previously said "there are 7 key themes to building a great company", what are those themes? From taking 4 companies public what are the patterns in building a business the right way? How does Patrick look to create a culture of accountability but also with a risk-taking mentality? How does one retain startup culture with scale? 3.) How does Patrick view his role as CEO today? What 3 characteristics do all great CEOs need to embody and then act on? Would Patrick agree that some people are destined for certain stages of a company's life? How does Patrick determine between a stretch and a stretch too far in a VP? What does that subsequent communication look like? 4.) Mike Dauber @ Amplify previously said on the show "timing kills more startups than dollars", would Patrick agree with this? How does he view market timing? What advice would Patrick give to founders who are 3-4 years ahead in market? What are the challenges? What are the right ways to communicate the path to timing it right? 5.) Why did Patrick choose this year to take Carbon Black public? What are the fundamental pros and cons of being a public company today? How does Patrick assess the role that VCs played in the building of Carbon Black to IPO? What must investors always remember in their interactions with founders? What must founders be cognizant of when selecting their investors and board members? Items Mentioned In Today’s Show: Patrick’s Fave Book: Built To Last: Successful Habits of Visionary Companies 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.
The Twenty Minute VC
Aired Last month 31:19
20VC: Spark Capital's Alex Clayton on How The Best Growth Investors Source, Evaluate and Win Deals, Why Market Depth Is Crucial When Analysing Markets & Why Capital Is Only A Temporary Competitive Advantage
Alex Clayton is a Partner @ Spark Capital, one of the leading firms of the last decade with a portfolio including the likes of Slack, Postmates, Oculus, Cruise, Twitter, the list goes on. As for Alex, he co-led Spark's investments in Pendo and Outreach and then led Spark's investments in Justworks, Braze (Appboy) and JFrog. Before Spark, Alex spent three years at Redpoint Ventures as a senior associate where he sourced or was actively involved in the firm's investments in Duo Security, JustWorks, RelateIQ (Salesforce.com), Infer, Lifesize and Sourcegraph. Prior to joining Redpoint, Alex was in the TMT investment-banking division of Goldman Sachs where he worked with Intuit, Yelp, SanDisk, and others. Fun fact, in the past Alex played on the ATP World Tennis Tour, competing in the U.S. Open and many other ATP events. In Today’s Episode You Will Learn: 1.) How Alex made his way from the world of investment banking with Goldman Sachs to one of the valley rising stars in the world of enterprise investing? What were Alex's biggest takeaways from his time at Redpoint and working with Tom Tunguz? 2.) How does Alex think about and approach sourcing today? How does Alex find most of his deals? How does Alex breakdown both thesis and network driven sourcing? How does sourcing at growth differ to sourcing at the early stage? If Alex has to meet founders when they are not raising, what does Alex advise founders who are told that you should not "always be raising"? 3.) How does Alex think about market sizing and evaluation today? What does he mean when he says he closely examines "market depth"? How does Alex determine whether a company has the ability to scale from a niche into a much larger TAM? What are the risks Alex is willing vs not willing to take when it comes to market? 4.) How does Alex think about competitor analysis when evaluating an opportunity today? In a world of almost infinite capital, does Alex believe that cash alone is a significant moat for competition? In customer calls when they discuss competition, what excites Alex to hear? How does Alex structure those customer reference calls? 5.) Alex has studied some of the best in class when it comes to SaaS, what do the best in class look like when it comes to: 1.) Quota attainment. 2.) Payback period. 3.) Net dollar retention and churn? 4.) Capital efficiency? Growth rate? Ultimately, what does Alex believe that it takes to go public having studied so many S1s? Items Mentioned In Today’s Show: Alex’s Fave Book: Zero to One by Peter Thiel Alex’s Most Recent Investment: Braze As always you can follow Harry, The Twenty Minute VC and Alex on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
The Twenty Minute VC