- Startups - Jeff Clavier founder and Managing Partner, SoftTech VC -TWiST #314Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV)
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It's our first TWiST Live! Jason travels to San Francisco to talk with Jeff Clavier in front of a live audience! The two talk about the current Venture Capital community and Jeff's experiences as a reputable investor.
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[ time codes begin at start of interview ]
1:00: Jeff: I invested my own money for 3.5 years until 2007
1:15: First investments were?
3:15: How many investments have you made?
4:00: What is your pattern recognition now, things that make you say I have to invest?
5:30: What makes you immediately say, "I cannot wait till this meeting ends?"
7:00: Emotion can impact entrepreneurs and VCs
8:00: Christmas - tell me what that means
10:00: Series A crunch - Sarah Lacy's great article (Jason calls it a random act of journalism). Seems to be real, right?
12:30: What exactly is happening? We're seeing acquihires.
13:30: Better to have a Series A crunch than drought of angel investors? If you had to pick one?
15:00: Because the standard has gone up, those who get an A round are going to be strong companies, right?
17:00: Y Combinator now pulling back on the number of companies - was it overwhelming as an angel to process?
18:30: How did you perceive the "free money" for YC startups when it was announced?
19:30: Did people know Sequoia backed YC?
21:30: Where are we today - everything being valued so low, seems like the angel bubble is over, the valuation bubble?
23:00: Jason: If a Mark Pincus or Ev Williams shows up, you're not going to care about the valuation
24:00: Did we ever see chickens come home to roost with convertible notes?
26:00: What do you think you do particularly well as an investor?
27:30: You invested in Mint before or after TechCrunch 40?
28:30: What was it about Aaron that made you want to invest? Was it your best or one of your best investments ever?
30:00: 17 or 18x return on Mint, Jeff confirms
30:15: Does a win like that make you want to invest in 10 more companies?
31:00: What are your expectations for investments, do you have a thesis about that?
32:00: SendGrid - the most successful of all TechStars startups, yes?
32:30: A company I invested in is not doing well and wants to be intro'd to an important contact. This must have happened to you, how do you handle it? [ Jeff: you say no ]
34:30: How much of your time is getting them to the next round?
35:30: You must have faced an acquihire where you get hosed but the founders did well -- how do you handle that?
37:30: Jeff on his fellow micro VCs: Even though we have our own funds, we don't compete
38:15: What are the worst traits of VCs you've seen that entrepreneurs should be wary of?
39:45: VCs behave better now because there's more transparency?
41:45: What do you think of Dave McClure?
42:20: Chris Sacca?
42:45: Naval?
43:10: Mike Arrington? or MG Siegler
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Special thanks to the members of the TWiST Backchannel Program!
- Startups - Chamath Palihapitiya Managing Partner of The Social+Capital Partnership -TWiST #E339Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV)
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Visit http://www.sourcebits.com to begin your web app development journey. Take a meeting with Sourcebits and you'll also get a 15-minute meeting with Jason Calacanis! Email sourcebits@launch.co for more info.
==========================
From the LAUNCH 2013 stage, Jason sits down with Chamath Palihapitiya.
Special thanks to the members of the TWiST Backchannel Program!
- Startups - Dave McClure-Founding Partner, 500 Startups-TWiST #328Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV)
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There wasn't a big enough swear jar! Live from RockSpace, Jason talks with Dave McClure of 500 Startups. Dave opens up about his initial investments, the SEC and diversity in funding startups.
Read the full transcript
2:00 Welcome to Twist Live 3
3:30 Dave McClure Bio & Background
3:50 Was the Facebook fund part of Founder's Fund?
5:30 What has AngelList done so well?
6:00 The Dave McClure Swear Jar
7:30 Were VCs upset about AngelList?
11:00 Do you think crowdfunding amongst accredited investor could have an impact in the space?
12:30 Dave's advice to potential angel investors
13:30 Are consumer Internet companies completely random?
14:00 When you're picking these companies, have you found a pattern?
17:00 With your investing strategy what do you plan on for exits?
19:40 What do you think about the mobile space?
22:00 Are we widening the funnel too much for early stage startups?
24:00 Are you looking for people who have had a few swings at the bat?
24:45 Do you feel more like an entrepreneur than a VC?
26:20 How is international an opportunity?
28:00 Thank you to SquareSpace. Use the coupon code Twist2 to save 10%.
29:00 Thank you to ShareFile! Use the coupon code Twist for a 30-day free trial.
30:30 What is your thesis on women?
31:40 Is your perception that diversity is increasing in Silicon Valley?
33:00 Do you think there's any bias in a similarly credentialed male & female entrepreneur?
35:30 How stressful is it to be a founder? Is it getting more stressful?
36:40 What are your thoughts on the late Jody Sherman?
38:40 How do you identify the stressed-out founders?
41:10 Can you show weakness to your team?
42:30 How did PayPal make it through all of the hard times?
43:30 Do you think Facebook will ever take over Google?
45:00 Could Google solve their lack of social media be solved by buying Twitter?
45:30 What would YouTube be worth if it was a stand-alone company?
48:30 What are the signals you look for when meeting with an entrepreneur?
50:30 Why Dave got excited about Farmeron.
52:05 What do you guys typically invest?
53:00 Dave and Jason discuss valuation.
54:40 Have things calmed back down in regards to valuation at YC?
55:20 Is investing in 500 startups a milestone for you?
60:30 What are your thoughts on crowdfunding for unaccredited investors?
65:00 Do you still take referrals now that you require applying through AngelList?
69:30 When does persistance turn into being annoying?
73:30 What do you fear/what keeps you up at night?
76:00 What is your international strategy?
79:00 What advice would you give to late bloomers?
80:20 Dave talks about being fired from Mint & Simply Hired.
87:20 What is the most important thing about immigration that could be fixed?
93:00 How do you recommend a technical person to find a product oriented co-founder?
Special thanks to the members of the TWiST Backchannel Program!
- Startups - Mark Suster of GRP Partners - TWiST #2791:30 Welcome everyone to today's episode of This Week in Startups!
2:00 Mark Suster, host of This Week in Venture Capital, welcome to the show.
2:45 Thank you to GoToMeeting for supporting the show! Everyone use the promo code "START" to get a free 30 day trial of the service. And, when you love it, thank @GoToMeeting!
5:15 Mark, welcome back to the program. Are you allowed to talk about what's going on at GRP Partners?
5:45 Why is it against the rules to solicit for your fund?
9:30 Discussing the right to information that investors have.
11:15 But all these new crowdfunding sites will have limitations and safeguards, correct?
12:00 Mark discusses investment platforms in London.
15:30 If I'm an educated consumer, can I invest safely?
16:30 How does this change venture investing?
19:30 The normal progression is you invest for several years, and then start making exits in year 5+.
21:15 Thank you so much to Squarespace for supporting the show! Everyone go check out their new v6 and use the code TWiST7 to sae 10% when you sign up.
24:15 So you have a big announcement about This Week in Venture Capital... what is it?
28:45 Mark discusses the evolution of his writing style on his blog.
30:30 Jason discusses a piece he wrote on Skout that he didn't publish.
33:30 Jason says that, if he was the founder of Skout, he would have shut the company down.
35:00 Mark gives his take on the Skout incident.
38:00 Mark discusses another expose about a game company that was grooming players for rape.
41:00 The widespread availability of mature content on the web.
42:15 Mark outlines his problem with Instagram.
43:45 Question from the audience: How does Mark manage his time with regards to networking?
46:45 What do you do when you have a portfolio company that wants an intro to 10 important people?
49:15 Question from the audience: What are your thoughts on having junior employees pound the pavements for deals?
50:45 Question from the audience: Why haven't there been any real communication innovations for decades now?
52:30 Mark: Why do you follow people on Twitter who you don't know?
54:00 What's the magic of Path?
57:30 What does Mark use Path for?
58:00 How would Mark rate himself as a VC? (http://www.quora.com/Mark-Suster-1/Is-Mark-Suster-a-successful-venture-capitalist)
1:01:30 How many Launchpad LA classes have you done?
1:05:30 Jason: I think we could use a few less accelerators.
1:08:00 We're very excited about TWiVC coming back.
1:11:00 Mark, thank you so much for joining us today! And thank you to Squarespace and GoToMeeting for supporting the show!
Support This Week in Startups and independent media by joining the TWiST Producer Program at TwistList.co!
Want to support TWiST another way? Use bit.ly/twistamazon when you shop and a portion of your purchase will go toward helping keep independent media like TWiST on air!
Keep up with the latest from our sister company, LAUNCH:
Good to Great to Excellent: A Roadmap
http://www.launch.co/blog/good-to-great-to-excellent-a-roadmap.html
Building a Better Techmeme
http://www.launch.co/blog/building-a-better-techmeme.html
LAUNCH Looking for an Awesome Full Stack Engineer/Developer
http://www.launch.co/blog/launch-looking-for-an-awesome-full-stack-engineerdeveloper.html
Live Blogging LAUNCH Education & Kids - Day Two
http://www.launch.co/blog/live-blogging-launch-education-kids-day-two.html
SPECIAL THANKS TO OUR PREFERRED PARTNER eMINUTES
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- Startups - Chris Sacca of Lowercase Capital - TWiST #291Chris' interview was so incredible that we couldn't contain it in just one episode, so today is only part one--you'll have to check back soon for part two!
*Disclaimer: Chris has a potty mouth and we've attempted to bleep out all of his swear words. We apologize in advance if any snuck by our censors.
1:00 Welcome everyone! Today on TWiST we have Chris Sacca of Lowercase Capital.
2:30 Thank you to Hiscox for supporting the show. Everyone go to hiscoxusa.com/smallbiz to get a free quote online in less than 15 minutes.
5:00 Chris, welcome to the show.
6:15 What is it that you do on a daily basis?
9:15 Chris: There's a lot of garbage getting funded today.
10:00 What does it mean to be a founder in your book?
12:15 Is fearlessness a good trait?
14:45 Has it become too easy to become a founder?
19:15 How did you wind up being an investor in companies like Facebook, Twitter and Uber?
20:00 Chris shares the story of how he found himself in a huge financial hole.
25:30 Thank you to Stamps.com for their support of the show! Everyone go to stamps.com and use the code TWIST for your free, 4-week trial.
28:15 Chris resumes his story of how he gambled and lost big.
29:45 What happens when people come to collect on the debt?
34:30 What was Speedera's business?
35:00 How did you land at Google?
38:15 Chris: My first angel investment was in Photobucket.
40:00 Is it right that you once took over on the secondary market for most Twitter shares?
44:30 True or false: people in the Valley tend to be like "dude, I got you,"--until the money comes in.
47:45 Has VC behavior gotten better or worse in the last decade?
50:30 Tell me about Garrett Camp of Stumbleupon.
51:45 Twitter, some would say, is screwing over the developers that helped build it. What's your take on that?
1:00:00 Are you slowing down on angel investing right now?
1:01:45 Chris reveals the existence of the fund Lowercase Stampede.
1:03:30 What gives you the ability to look at a new space with fresh eyes?
1:05:30 How did you get involved in Hollywood?
1:07:00 What do you think the impact of Kickstarter is on the entertainment business?
1:10:15 This concludes part one of Jason's interview with Chris. Party two is coming soon--stay tuned!
Support This Week in Startups and independent media by joining the TWiST Producer Program at TwistList.co!
Want to support TWiST another way? Use bit.ly/twistamazon when you shop and a portion of your purchase will go toward helping keep independent media like TWiST on air!
Keep up with the latest from our sister company, LAUNCH:
Google's Fiber 'Proof of Concept' is Anything But
http://www.launch.co/blog/googles-fiber-proof-of-concept-is-anything-but.html
Good to Great to Excellent: A Roadmap
http://www.launch.co/blog/good-to-great-to-excellent-a-roadmap.html
Building a Better Techmeme
http://www.launch.co/blog/building-a-better-techmeme.html
LAUNCH Looking for an Awesome Full Stack Engineer/Developer
http://www.launch.co/blog/launch-looking-for-an-awesome-full-stack-engineerdeveloper.html
Live Blogging LAUNCH Education & Kids - Day Two
http://www.launch.co/blog/live-blogging-launch-education-kids-day-two.html
- Startups - Chris Sacca of Lowercase Capital Pt. 2- TWiST #295Today on This Week in Startups, investor, entrepreneur and cyclist Chris Sacca of Lowercase Capital joined the program to discuss his investments in Facebook, Twitter, Uber and more. He also gave a candid account of how he hustled his way to the top. And, the interview was so incredible, we had to break it up into two episodes. Here is part two!
*Disclaimer: Chris has a potty mouth and we've attempted to bleep out all of his swear words. We apologize in advance if any snuck by our censors.
1:17:00 What do you think of Sergey?
1:22:30 Why doesn't Twitter own Instagram?
1:25:15 Are you investor in Klout?
1:36:00 Do you trust Mark Zuckerberg with your data?
1:39:30 Is Zuckerberg, at his core, a great product guy?
1:42:15 Is CEO of Yahoo the hardest job in Silicon Valley right now?
1:43:45 Chris explains what Facebook did wrong with their IPO.
1:50:15 What do you think about the prospects for American employment?
1:58:45 What's Obama really like?
2:06:15 Was choosing Sarah Palin the moment when the Republican party jumped the shark?
2:10:30 Chris: There are people who are great at being second fiddle. Companies don't succeed if there are a lot of chiefs and no indians.
2:12:15 Chris: The number one problem in Silicon Valley right now is people taking credit when they shouldn't.
2:20:45 What do you think of Angellist?
2:27:15 Question from the viewers: Where does the name Lowercase Capital come from?
2:29:00 I think this is the longest episode ever.
2:30:25 Thank you to Hiscox and to Stamps.com.
2:30:45 Thank you so much for joining us, Chris. We'll see you all next time.
Support This Week in Startups and independent media by joining the TWiST Producer Program at TwistList.co!
Want to support TWiST another way? Use bit.ly/twistamazon when you shop and a portion of your purchase will go toward helping keep independent media like TWiST on air!
Keep up with the latest from our sister company, LAUNCH:
Google's Fiber 'Proof of Concept' is Anything But
http://www.launch.co/blog/googles-fiber-proof-of-concept-is-anything-but.html
Good to Great to Excellent: A Roadmap
http://www.launch.co/blog/good-to-great-to-excellent-a-roadmap.html
Building a Better Techmeme
http://www.launch.co/blog/building-a-better-techmeme.html
LAUNCH Looking for an Awesome Full Stack Engineer/Developer
http://www.launch.co/blog/launch-looking-for-an-awesome-full-stack-engineerdeveloper.html
Live Blogging LAUNCH Education & Kids - Day Two
http://www.launch.co/blog/live-blogging-launch-education-kids-day-two.html
- Startups - George Zachary of Charles River Ventures - TWiST #2370:00-2:15 Welcome everyone, I'm here today with George Zachary of Charles River Ventures.
2:15-3:00 George is both an entrepreneur and venture capitalist. His investments include Twitter, Yammer, Cloudshare and Vignette.
3:00-4:45 How long did you spend as an entrepreneur and how long as a VC?
4:45-6:30 So you've been a VC for over a decade now? What is VC, at its core?
6:30-9:15 What's the difference between the bubble today and the one in 1999?
9:15-9:30 Is a great feeling as an entrepreneur to have something that you built still going strong today?
9:30-11:30 What's the closest you ever came to failure?
11:30-12:15 People in the Valley tend to compartmentalize bad behavior. Do you think that's the norm there?
12:15-17:00 Thank you to Sourcebits for sponsoring the program. Everyone thank them @Sourcebits!
17:00-18:00 So, is it your perception that you have to be a little bit of a bad boy?
18:00-19:15 What do you think of the leadership at Apple now?
19:15-21:15 What do you think makes a great venture capitalist?
21:15-23:45 Every decade you put down 70 bets and of course your chance of hitting a Google or eBay are low.
23:45-27:00 Is the machine broken? Who is it working for?
27:00-31:00 What do you think of the mega-venture firms, like Andreessen Horowitz?
31:00-32:50 Why don't limited partners put all their money into a venture fund?
32:50-38:00 Thank you to GoToMeeting for supporting the show! Everyone thank @GoToMeeting!
38:00-42:15 How many companies do you think you look at a week, do you think?
42:15-43:30 So what is the management role?
43:30-45:30 You're basically investing in people who may be slightly dysfunctional and you enable them. How do you do that?
45:30-48:15 How does a VC handle this volatile personality?
48:15-51:00 When do you say enough is enough, this person needs to go?
51:00-55:00 What are your expectations today in terms of the market?
55:00-58:15 Mergers and acquisitions will be very active in the next few years, don't you think?
58:15-1:00:30 Do you think there's another Steve Jobs out there?
1:00:30-1:05:45 What do you think is going to happen in the US with regards to employment?
1:05:45-1:08:15 So Udacity, that's where the hope is? And you backed it?
1:08:15-1:10:00 This has been such a great program, thank you George. Everyone take a look at Charles River Ventures at crv.com.
1:10:00-1:11:45 If people want to send their pitch, send it to george@crv.com.
1:11:45-1:12:15 Have you ever invested without a product?
1:12:15-1:12:45 Thank you to our sponsors and to our friends at CBS and CNET.
1:12:45-1:13:00 Stephen: If anyone wants to check out CNET.com/live we broadcast everyday.
Support This Week in Startups and independent media by joining the TWiST Producer Program at TwistList.co!
Multilingual? Translate this episode of TWiST into another language and email the transcript to translate@thisweekin.com
Keep up with the latest from our sister company, LAUNCH:
LAUNCH Festival Hits $639k in Prize Money
http://www.launch.co/blog/launch-festival-hits-639k-in-prize-money.html
LAUNCH Hits $489K: A Slot at AngelPad and $100K Investment (If You Move to Vegas)
http://www.launch.is/blog/launch-hits-489k-a-slot-at-angelpad-and-100k-investment-if-y.html
The Two Most Important Startups in the World
http://www.launch.is/blog/the-two-most-important-startups-in-the-world.html
10 International Startup Scholarships
http://www.launch.is/blog/10-international-startup-scholarships.html
DOUBLE Boom! LAUNCH Hits $369k in Prizes Thanks to MailChimp's $100k!
http://www.launch.is/blog/double-boom-launch-hits-369k-in-prizes-thanks-to-mailchimps.html
