Its 10th of October, 2020. I am 19 years old and I am watching these videos and simulatneosly making notes on them. I am writing this so that one day I can come back and reply this comment with what happened to me and my startup. It is going to be fun!
Essential viewing before taking ANY funding. Keep your equity close and bootstrap if you can because it gives you more power to make sensible decisions.
One of the most insightful seed to stage investing videos full of Q&A I have been able to find. Good job on this one. Is it bad I just watched it a second time now?
29:28 "we did the first big growth round in AirBnB at a billion dollar valuation and I think that will turn out to be one of the best growth investments of all time, I think this is really gonna one of the big companies" Wow, crazy how spot on Marc was here. As of this writing Airbnb is sitting at ~$60B market cap.
It is 15th Feb 2024, I'm 39, and I'll be applying for the YC summer batch this year. If i remember it - I'll come back here some years later and tell the story.
Great episode/lecture/discussion, Even the camaraderie and the mutually amplifying personalities are a joy ti watch. Haahaa Sam lost in thought, and Marc hard on the gas... ahahhaha!!
In the silde on 'How to Pick Your Investors' the first point Rolodex vs Time vs Pedigree and track record.. what does it mean? Please let me know if you guys got something.
EN "The Importance of Leadership, Risk, and Trust in Fundraising and Investing: Insights from Marc Andreessen, Ron Conway, and Parker Conrad" 📈 The video discusses the criteria for investing in a founder or a company, emphasizing the importance of extreme strengths and leadership qualities. 00:36 Investing in a founder or a company is based on characteristics such as leadership, communication skills, and personal problem-solving. 00:36 Venture capital is a game of outliers, with only a few companies generating the majority of returns. 02:45 The focus is on investing in startups with extreme strengths, even if they have some weaknesses. 04:29 Entrepreneurs should be able to clearly explain their product in one compelling sentence to investors. 04:45 💡 The key to success is being decisive, avoiding procrastination, and building a great team in startups. It's important to be so good that investors can't ignore you. 05:21 Being decisive and avoiding procrastination is crucial for making progress in startups. 05:21 Building a great team is essential for success in startups. 05:37 Raising money for startups can be challenging, but building a business with potential for success can attract investors. 06:02 Bootstrap as long as possible before considering raising money. 09:08 The key to success is being so good that investors can't ignore you. 09:30 💰 The video discusses the importance of understanding the relationship between risk and cash in fundraising and running a startup. 10:28 Raising venture capital is easier than many other aspects of running a startup, such as recruiting and generating revenue. 10:28 The speaker emphasizes the need to systematically peel away layers of risk as a startup progresses, and to justify raising more capital by achieving milestones. 12:46 It's important to calibrate the amount of money raised and spent to the risks being addressed in the business. 13:37 📈 The video discusses the process of fundraising and investing, emphasizing the importance of trust and written agreements. 14:14 Asking for an NDA at the beginning of a relationship can signal a lack of trust 14:14 The biggest mistake is not getting things in writing 14:22 Founders should focus on fundraising efficiently and not let their ego get involved 14:39 Investors have short memories, so it's important to confirm commitments in writing 15:03 SV Angel invests in seed stage startups and has a thorough evaluation process 16:11 Top tier venture capitalists mainly invest in companies that have raised a seed round 18:40 Raising seed funding is generally the first step to raising a series A round 19:01 Exceptions to this are when the founder has a successful track record 19:14 💰 The video discusses the importance of choosing the right seed investors, negotiation strategies, and the maximum amount of company founders should sell in their seed round era. 20:24 Choosing the right seed investors is crucial for laying the foundation for future fundraising events. 20:24 YC does a good job directing founders towards the best investors, as per their experience. 21:09 Starting with a high valuation for the company may not be well-received by investors. 21:57 There are thresholds for seed-stage company valuations that investors are willing to pay, and founders should aim to raise the needed amount without exceeding it. 23:09 Founders should not sell more of the company than needed in the seed round era. 23:39 📈 The video discusses the importance of ownership percentage in company investments, and shares the success stories of investments in Google and Airbnb. 23:58 Ownership percentage is crucial for founders to consider, as excessive dilution can be demotivating. 23:58 Investors tend to focus more on ownership than price, leading to rough negotiations during funding rounds. 24:13 The investment in Google in 1999 through a Stanford professor's connection led to a significant return. 26:46 The investment in Airbnb was strategically earned by securing a deal with Sequoia through a connection with Yahoo! 29:02 🏠 The video discusses the missed opportunity of investing in Airbnb, the reasons behind their eventual investment, and the importance of finding exceptional co-founders when starting a company. 29:15 The speaker missed the opportunity to invest in Airbnb early on. 29:15 They eventually invested in Airbnb during a growth round at a high valuation. 29:21 Venture capital is a game of outliers, and the idea of Airbnb initially seemed unconventional. 29:43 The founders of Airbnb impressed the speaker with their maturity and ability to run a successful business. 31:12 The importance of finding exceptional co-founders when starting a company is emphasized. 32:30 Raising money from investors with good expertise can add more value than just the money itself. 33:50 📈 The video discusses the importance of precise capital investment, operational excellence, and choosing the right investors for long-term success in building franchise companies. 34:40 Capital investment needs to be precise to avoid excessive dilution and potential negative impact on the company in the long run. 34:40 Operational excellence is crucial, especially for capital equipment-intensive businesses, to effectively manage debt and avoid losing the company. 36:24 Investors with domain expertise and a strong network for introductions are valuable, while those solely focused on making money should be avoided. 36:59 Choosing key investors is as important as choosing a life partner, as they will play a crucial role in the long-term success and growth of the company. 37:57 📈 The video discusses the importance of choosing the right partners in business and the constraints faced by venture capitalists. 38:47 The importance of having the right partners in business, similar to a marriage, is emphasized. 38:47 Second time founders take the importance of choosing the right partners more seriously. 38:54 SV Angel considers their investment in entrepreneurs as a lifelong commitment, similar to a marriage. 39:27 The constraint on top tier venture capital firms is the concept of opportunity cost. 42:44 📈 The video discusses the implications of making investments in companies, including conflicts, opportunity cost, and the importance of investing in the founder and their team. 42:56 Investing in a company involves more than just the financial cost, as it also impacts the firm's ability to invest in other opportunities. 42:56 Every investment made by the firm has implications for conflict policy and opportunity cost. 43:07 The firm's capacity to make new deals is limited, and every investment reduces this capacity. 44:28 The decision to invest in a company without traction is based on the founder and their team, rather than the product idea. 46:01 In certain industries, such as enterprise software, it is common for companies to raise funds without an MVP. 46:45 The ideal board structure and when it will be published is discussed. 47:20 📊 The video discusses the dynamics of power and trust between founders and investors in a company, emphasizing that the founder has more control when things are going well, and investors have more control when things are going badly. 47:37 The founder has more control when things are going well at the company 47:37 Investors have more control when things are going badly 49:28 Board votes rarely matter, and decisions are usually made unanimously or close to it
How do you an make investment decision: “Is this person a born leader? Are they obsessed by the product? Do they have really good communication skills?”
guys what do you think about crowdfunding? is it good or bad? what are it's benefits and harms? and can anyone tell me how can i reach them personally?
I am not convinced. I see people who have gambled and won, or not gambled at all. They never lost. It cann't be a science because it is was it would not be not profitable, then everybody could do it. Select the winning companies and leave the others to die in a financial wastland.
Sum up your product in one sentence. This is not only good for refining your own vision of the product, it’s also a way to quickly and efficiently paint a picture of the product for an investor or a customer. From my point of view, this point is significant because people do not listen to you when you speak long. Now, my company Smart Green is working on customer relations and we already concluded our product in one-two sentences.
Jai Ko Can you help me out in this nobel cause?, I Promised a friend that i will help her because she will be put out in the street within 2 months. Here is her page. www.youcaring.com/other/help-marion-salazar-from-being-put-out-on-the-street/346795 I would appreciate any type of the below help:- 1-Sharing her page on your social media Facebook or Twitter. 2-Let other share her page 3-Donate by any possible amount 4-Let others donate 5-Prayer for her. Thank you so much.
![[TH] FS vs BME - VCT Ascension Pacific - Lower Bracket Final](http://i.ytimg.com/vi/wnygqsR2Fig/mqdefault.jpg)
Its 10th of October, 2020. I am 19 years old and I am watching these videos and simulatneosly making notes on them. I am writing this so that one day I can come back and reply this comment with what happened to me and my startup. It is going to be fun!
I Just leave this comment to see how this brillant dude turn out into a billion dollar cap valuation.
Me too
Good luck :)
I'll take 1% share
Hi!
Do you already have a startup? Would love to hear how is it going.
The main takeaway - be so good they can't ignore you!
That;s good idea
That 14:30 advice was tricky.
Essential viewing before taking ANY funding. Keep your equity close and bootstrap if you can because it gives you more power to make sensible decisions.
One of the most insightful seed to stage investing videos full of Q&A I have been able to find. Good job on this one. Is it bad I just watched it a second time now?
Most probably, will be watching it again.
29:28 "we did the first big growth round in AirBnB at a billion dollar valuation and I think that will turn out to be one of the best growth investments of all time, I think this is really gonna one of the big companies"
Wow, crazy how spot on Marc was here. As of this writing Airbnb is sitting at ~$60B market cap.
Andreesen has been nailing deals left and right for years
This episode is so good that I'm watching / listening it 6 times in a row!
Thank you, best explanation I have found around the community.
It is 15th Feb 2024, I'm 39, and I'll be applying for the YC summer batch this year. If i remember it - I'll come back here some years later and tell the story.
It's really nice to see ambitious Ukrainians here!
Hi, can I get ur email ID plz for mentorship.
On 19/06/2023 at the age of 17.6 yrs I am watching this video's . with the help of this knowledge I will Excel in future.
Great episode/lecture/discussion, Even the camaraderie and the mutually amplifying personalities are a joy ti watch. Haahaa Sam lost in thought, and Marc hard on the gas... ahahhaha!!
Best yet!
Thank you!
In the silde on 'How to Pick Your Investors' the first point Rolodex vs Time vs Pedigree and track record.. what does it mean? Please let me know if you guys got something.
Ron Conway is a very good guy,
These are great lectures!
Very useful video, thank you for sharing!
thank you so much
finished, leaernt so much, thx
Amazing
EN
"The Importance of Leadership, Risk, and Trust in Fundraising and Investing: Insights from Marc Andreessen, Ron Conway, and Parker Conrad"
📈 The video discusses the criteria for investing in a founder or a company, emphasizing the importance of extreme strengths and leadership qualities.
00:36
Investing in a founder or a company is based on characteristics such as leadership, communication skills, and personal problem-solving.
00:36
Venture capital is a game of outliers, with only a few companies generating the majority of returns.
02:45
The focus is on investing in startups with extreme strengths, even if they have some weaknesses.
04:29
Entrepreneurs should be able to clearly explain their product in one compelling sentence to investors.
04:45
💡 The key to success is being decisive, avoiding procrastination, and building a great team in startups. It's important to be so good that investors can't ignore you.
05:21
Being decisive and avoiding procrastination is crucial for making progress in startups.
05:21
Building a great team is essential for success in startups.
05:37
Raising money for startups can be challenging, but building a business with potential for success can attract investors.
06:02
Bootstrap as long as possible before considering raising money.
09:08
The key to success is being so good that investors can't ignore you.
09:30
💰 The video discusses the importance of understanding the relationship between risk and cash in fundraising and running a startup.
10:28
Raising venture capital is easier than many other aspects of running a startup, such as recruiting and generating revenue.
10:28
The speaker emphasizes the need to systematically peel away layers of risk as a startup progresses, and to justify raising more capital by achieving milestones.
12:46
It's important to calibrate the amount of money raised and spent to the risks being addressed in the business.
13:37
📈 The video discusses the process of fundraising and investing, emphasizing the importance of trust and written agreements.
14:14
Asking for an NDA at the beginning of a relationship can signal a lack of trust
14:14
The biggest mistake is not getting things in writing
14:22
Founders should focus on fundraising efficiently and not let their ego get involved
14:39
Investors have short memories, so it's important to confirm commitments in writing
15:03
SV Angel invests in seed stage startups and has a thorough evaluation process
16:11
Top tier venture capitalists mainly invest in companies that have raised a seed round
18:40
Raising seed funding is generally the first step to raising a series A round
19:01
Exceptions to this are when the founder has a successful track record
19:14
💰 The video discusses the importance of choosing the right seed investors, negotiation strategies, and the maximum amount of company founders should sell in their seed round era.
20:24
Choosing the right seed investors is crucial for laying the foundation for future fundraising events.
20:24
YC does a good job directing founders towards the best investors, as per their experience.
21:09
Starting with a high valuation for the company may not be well-received by investors.
21:57
There are thresholds for seed-stage company valuations that investors are willing to pay, and founders should aim to raise the needed amount without exceeding it.
23:09
Founders should not sell more of the company than needed in the seed round era.
23:39
📈 The video discusses the importance of ownership percentage in company investments, and shares the success stories of investments in Google and Airbnb.
23:58
Ownership percentage is crucial for founders to consider, as excessive dilution can be demotivating.
23:58
Investors tend to focus more on ownership than price, leading to rough negotiations during funding rounds.
24:13
The investment in Google in 1999 through a Stanford professor's connection led to a significant return.
26:46
The investment in Airbnb was strategically earned by securing a deal with Sequoia through a connection with Yahoo!
29:02
🏠 The video discusses the missed opportunity of investing in Airbnb, the reasons behind their eventual investment, and the importance of finding exceptional co-founders when starting a company.
29:15
The speaker missed the opportunity to invest in Airbnb early on.
29:15
They eventually invested in Airbnb during a growth round at a high valuation.
29:21
Venture capital is a game of outliers, and the idea of Airbnb initially seemed unconventional.
29:43
The founders of Airbnb impressed the speaker with their maturity and ability to run a successful business.
31:12
The importance of finding exceptional co-founders when starting a company is emphasized.
32:30
Raising money from investors with good expertise can add more value than just the money itself.
33:50
📈 The video discusses the importance of precise capital investment, operational excellence, and choosing the right investors for long-term success in building franchise companies.
34:40
Capital investment needs to be precise to avoid excessive dilution and potential negative impact on the company in the long run.
34:40
Operational excellence is crucial, especially for capital equipment-intensive businesses, to effectively manage debt and avoid losing the company.
36:24
Investors with domain expertise and a strong network for introductions are valuable, while those solely focused on making money should be avoided.
36:59
Choosing key investors is as important as choosing a life partner, as they will play a crucial role in the long-term success and growth of the company.
37:57
📈 The video discusses the importance of choosing the right partners in business and the constraints faced by venture capitalists.
38:47
The importance of having the right partners in business, similar to a marriage, is emphasized.
38:47
Second time founders take the importance of choosing the right partners more seriously.
38:54
SV Angel considers their investment in entrepreneurs as a lifelong commitment, similar to a marriage.
39:27
The constraint on top tier venture capital firms is the concept of opportunity cost.
42:44
📈 The video discusses the implications of making investments in companies, including conflicts, opportunity cost, and the importance of investing in the founder and their team.
42:56
Investing in a company involves more than just the financial cost, as it also impacts the firm's ability to invest in other opportunities.
42:56
Every investment made by the firm has implications for conflict policy and opportunity cost.
43:07
The firm's capacity to make new deals is limited, and every investment reduces this capacity.
44:28
The decision to invest in a company without traction is based on the founder and their team, rather than the product idea.
46:01
In certain industries, such as enterprise software, it is common for companies to raise funds without an MVP.
46:45
The ideal board structure and when it will be published is discussed.
47:20
📊 The video discusses the dynamics of power and trust between founders and investors in a company, emphasizing that the founder has more control when things are going well, and investors have more control when things are going badly.
47:37
The founder has more control when things are going well at the company
47:37
Investors have more control when things are going badly
49:28
Board votes rarely matter, and decisions are usually made unanimously or close to it
Ron was best
This is one of those videos that keeps getting better the longer it goes. The last few minutes was probably the most important
I just can't believe that this knowledge is for free.
awesome! INTERNET!!
this was one of my favorite lectures so far
Is anyone talking about non-linear equity (capped or sub-linear) to avoid valuations?
How do you an make investment decision:
“Is this person a born leader? Are they obsessed by the product? Do they have really good communication skills?”
Sam - 1x
Ron - 2x
Marc - 0.75x
P. Conrad - 1.25x
That's the speed of them talking 😅
Do you guys invest/help in India ????
wow , amazing lecture with such a great people
guys what do you think about crowdfunding? is it good or bad? what are it's benefits and harms? and can anyone tell me how can i reach them personally?
Smith Barbara Martinez Donald Hernandez Robert
Wilson Mark Robinson Mary Perez Richard
White Karen Jackson Ruth Miller Eric
Thank you very much it was both useful and entertaining
So don't ask for an NDA because it's all about trust...but get everything in writing in case a VC tries to back out of the deal??? Interesting.
You didn't listen it properly I guess, he said because investors have short memory, and it's understandable!
In a NDA you're trying to ptotect your idea. With the getting it in writing your are trying to get the money commitment. What are you focusing on?
What I would rather argue is how can you trust a VC with your business without knowing them enough to trust them
Ron Conway thanks for the advice and your beautiful smooth speech.
Clark Lisa Thomas John Wilson John
This one is the best so far. Thanks a lot
4:00 one seentence
I have a great idea.. how can I find an investor
You have to hunt for them and negotiate an appointment for your pitch.
These videos are so helpful. Thank you again for posting.
It was fun to learn about cash and risk from Marc Andreessen.
Awesome Awesome did I say yet awesome? If not, I am going to say it now, Awesome!
Any one knows what is written below the slide changer at (5:27)? "Never Forget..."
+Prashant Agrawal it says "your reputation is your biggest asset"
Win.
Continue watching at 12:24
Piece of art
I am not convinced. I see people who have gambled and won, or not gambled at all. They never lost. It cann't be a science because it is was it would not be not profitable, then everybody could do it. Select the winning companies and leave the others to die in a financial wastland.
Indeed
Hahahhaha
Sum up your product in one
sentence.
This is not only good for refining your own vision of the product, it’s also a way to quickly and efficiently paint a picture of the product for an investor or a customer. From my point of view, this point is significant because people do not listen to you when you speak long. Now, my company Smart Green is working on customer relations and we already concluded our product in one-two sentences.
please increase the volume on these videos. I have my headphone to the maximum and I can barely here them.
Jai Ko
Can you help me out in this nobel cause?, I Promised a friend that i will help her because she will be put out in the street within 2 months. Here is her page.
www.youcaring.com/other/help-marion-salazar-from-being-put-out-on-the-street/346795
I would appreciate any type of the below help:-
1-Sharing her page on your social media Facebook or Twitter.
2-Let other share her page
3-Donate by any possible amount
4-Let others donate
5-Prayer for her.
Thank you so much.
+Jai Ko Maybe its your ears.