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20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Release Date: 06/14/2019

20VC: Haystack’s Semil Shah on Whether Founders Are Bypassing Seed Funds in Favour Of Less Dilutive Multi-Stage Funds, How Fund Strategy Changes With Fund Scaling & Why The Hardest Challenge is Price Discipline show art 20VC: Haystack’s Semil Shah on Whether Founders Are Bypassing Seed Funds in Favour Of Less Dilutive Multi-Stage Funds, How Fund Strategy Changes With Fund Scaling & Why The Hardest Challenge is Price Discipline

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Semil Shah is the Founder & General Partner @ Haystack, one of the valley's leading seed funds of the last 5 years with a portfolio including the likes of Instacart, DoorDash, Carta, OpenDoor, Hashicorp and more $Bn companies. Alongside his role at Haystack, Semil is also a Venture Partner @ Lightspeed Venture Partners. Prior to founding Swell, Semil was on the operating side as an early advisor and employee at Concept.io (Swell), acquired by Apple in August 2014. In Today’s Episode You Will Learn: 1.) How did Semil make his way into the world of venture from his...

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20VC: Clearbit Founder Alex MacCaw on How To Successfully Negotiate with Investors, What Value-Add Do VCs Really Bring & Why You Should Only Have Operators on Your Board show art 20VC: Clearbit Founder Alex MacCaw on How To Successfully Negotiate with Investors, What Value-Add Do VCs Really Bring & Why You Should Only Have Operators on Your Board

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Alex MacCaw is the Founder & CEO @ Clearbit, the marketing data engine for all of your customer interactions, from customer understanding to prospect identification to personalising every sales and marketing interaction. To date, Alex has raised $17m in financing from some incredible people including Geoff Lewis @ Bedrock, Ash Fontana @ Zetta Venture Partners, First Round Capital, Battery Ventures and then former guest Ilya Sukhar, Naval Ravikant and Josh Buckley. Prior to founding Clearbit, Alex spent time in the engineering teams at both Twitter and Stripe. In Today’s...

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20VC: Matrix’s Ilya Sukhar on How The Seed Ecosystem Could Be Optimised, Why The Bar For The Break-Out Series A Has Risen & The Art of Effective Referencing show art 20VC: Matrix’s Ilya Sukhar on How The Seed Ecosystem Could Be Optimised, Why The Bar For The Break-Out Series A Has Risen & The Art of Effective Referencing

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Ilya Sukhar is a General Partner @ Matrix Partners, the firm steeped in 40 years of history with over $4Bn invested enjoying 110 acquisitions and 65 IPOs. As for Ilya, at Matrix he has led deals in the likes of FiveTran, Flock Safety, Slab and Height just to name a few. Prior to Matrix, Ilya was a part-time investing partner @ Y Combinator and before that was Head of Developer Products at Facebook. His time at Facebook came about as a result of his former company, Parse, being acquired by them for close to $100m in April 2013. If that was not enough, Ilya also has one of the best...

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20VC: Scale Founder Alex Wang on How To Hire Incredible Talent Before You Are A Hot Company, Why Beating Competition Is Not As Clear Cut As Investors Believe & Why AI Is Under-Hyped Today In Terms of Total Impact  show art 20VC: Scale Founder Alex Wang on How To Hire Incredible Talent Before You Are A Hot Company, Why Beating Competition Is Not As Clear Cut As Investors Believe & Why AI Is Under-Hyped Today In Terms of Total Impact

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Alex Wang is the Founder & CEO @ Scale, the data platform for AI providing high-quality training and validation data for AI applications. To date, they have raised over $123m in financing from some of the best investors in the business including Founders Fund, Index Ventures, Thrive, Spark and Coatue and then also some of the world's best operators and founders of Dropbox, Instagram, Quora, Github and Twitch to name a few. Prior to founding Scale, Alexandr was a Tech Lead at Quora, directly responsible for all speed projects and before that a software engineer at...

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20VC: How Founders Can Gain Leverage in Fundraising Negotiations, The Metrics You Need To Raise Your Series A in Consumer & What We Have To Change About Cap Table Construction with Jana Messerschmidt, Partner @ Lightspeed Venture Partners show art 20VC: How Founders Can Gain Leverage in Fundraising Negotiations, The Metrics You Need To Raise Your Series A in Consumer & What We Have To Change About Cap Table Construction with Jana Messerschmidt, Partner @ Lightspeed Venture Partners

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Jana Messerschmidt is an investor @ Lightspeed Venture Partners, one of the best performing funds of the last decade with a portfolio including Snapchat, Mulesoft, Max Levchin's Affirm, Cameo, StitchFix and many many more incredible companies. Prior to LSVP, Jana co-founded #Angels in 2015, a first of its kind investment collective specifically designed to get more women on the cap tables of successful companies. Her portfolio includes the likes of Carta, Lambda School, Bird, Forward and Cameo to name a few. In addition to #Angels, Jana spent 6 years at Twitter as VP of...

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20VC: InVision Founder Clark Valberg on Why True Leadership is Like Writing, How To Be Truly Self-Aware & The Fundamental False Premise of Entrepreneurship show art 20VC: InVision Founder Clark Valberg on Why True Leadership is Like Writing, How To Be Truly Self-Aware & The Fundamental False Premise of Entrepreneurship

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Clark Valberg is the Founder & CEO @ InVision, the digital product design platform powering the world's best user experiences. To date, Clark has raised over $350m with InVision from some of the world-leading investors including Iconiq, Spark Capital, Accel, Battery Ventures, Tiger Global, FirstMark and even Atlassian. Prior to founding InVision, Clark spent 8 years as the Co-Founder of Epicenter Consulting, a leading web application design business. If that was not enough, Clark is also a leading angel with a portfolio including Algolia, Voiceflow, Unsplash and BentoBox, just to...

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20VC: Sequoia's Mike Vernal on His Biggest Lessons From 8 Years of Hyper-Growth at Facebook, Why The Strength of Data Moats Is Over-Rated Today and The Challenge of 20VC: Sequoia's Mike Vernal on His Biggest Lessons From 8 Years of Hyper-Growth at Facebook, Why The Strength of Data Moats Is Over-Rated Today and The Challenge of "Overthinking Investments" In Venture

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Mike Vernal is a General Partner @ Sequoia, one of the world’s leading and most renowned venture firms with a portfolio including WhatsApp, Zoom, Stripe, Airbnb, Github and many more incredible companies. As for Mike he has led and sits on the board of Citizen, rideOS, Rockset, Threads and Houseparty (acquired by Epic). Prior to venture, Mike spent 8 years at Facebook as VP of Product & Engineering leading multiple different teams including Search, Commerce, Profile, and Developer product groups. Prior to Facebook Mike spent 4 years at Microsoft as a PM lead in Microsoft's...

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20VC: Cruise's Daniel Kan on Lessons From Scaling The Team From 40 To 1,500 People, How Daniel Thinks About Continuous Learning & Self-Development and Why CEOs Hiring Themselves Out Of Roles Is Wrong  show art 20VC: Cruise's Daniel Kan on Lessons From Scaling The Team From 40 To 1,500 People, How Daniel Thinks About Continuous Learning & Self-Development and Why CEOs Hiring Themselves Out Of Roles Is Wrong

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Daniel Kan is the Chief Product Officer @ Cruise, the company building cutting-edge hardware and software that work seamlessly together to transform the way we all experience transportation. In 2016, Cruise was acquired by GM for a reported $1Bn. Since the acquisition Cruise has raised $7.25 billion in committed capital and has attracted SoftBank, Honda, and T. Rowe Price as investors. As for Daniel, he started his career at a startup called UserVoice. He then founded Exec, an on-demand hospitality service company, and successfully sold Exec to Handy. As a result of...

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20VC: True Ventures' Puneet Agarwal on Why EQ Is Going To Separate The Best Firms In Venture Over The Next Decade, The Negatives of Attribution in Venture & What Makes A Truly Efficient Venture Partnership show art 20VC: True Ventures' Puneet Agarwal on Why EQ Is Going To Separate The Best Firms In Venture Over The Next Decade, The Negatives of Attribution in Venture & What Makes A Truly Efficient Venture Partnership

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Puneet Agarwal is a Partner @ True Ventures, one of the leading early-stage VC funds of the last decade with big wins including Fitbit, Peloton, Ring, Hashicorp, Duo Security and Blue Bottle Coffee, just to name a few. As for Puneet, at True he has led deals in Duo Security, Tray.io, Lumity, Solo.io and more. Before the world of VC, Puneet spent 6 years in product management with Geodesic Securities and BEA. Before product management, Puneet actually cut his teeth in the world of VC as an associate at Mayfield which he joined post a 2-year stint at JP Morgan. In Today’s Episode You...

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20VC: Hiten Shah on The Right Way To Think About Depression, Control and Burnout, Why Nobody Really Knows What They Are Doing and How One Should Receive Advice As A Result & How To Gain Self-Awareness As A Leader  show art 20VC: Hiten Shah on The Right Way To Think About Depression, Control and Burnout, Why Nobody Really Knows What They Are Doing and How One Should Receive Advice As A Result & How To Gain Self-Awareness As A Leader

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Hiten Shah is the Co-Founder @ FYI, the startup that allows you to find your documents in 3 clicks or less. Before FYI, Hiten co-founded QuickSprout alongside Neil Patel, together they scaled the platform to over 500,000 readers every month. Before QuickSprout, Hiten was the Co-Founder and CEO of KISSmetrics, raising over $19m in the process for the company from the likes of True Ventures, Uncork Capital and Felicis Ventures just to name a few. Finally, Hiten is also the Co-Founder @ Crazy Egg, the heat mapping tool used by thousands to improve the effectiveness of their...

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Brad Bao is the Co-Founder & CEO @ Lime, the startup that provides distribution of shared scooters, bikes and transit vehicles, with the aim to reduce dependence on personal automobiles for short distance transportation. To date they have raised over $775m in funding from the likes of Andreessen Horowitz, GV, IVP, Uber, Fifth Wall, GGV, Atomico and Bain Capital Ventures just to name a few. As for Brad, prior to founding Lime he was Managing Partner @ Kinzon Capital for close to 6 years and before that spent an incredible 8 years at Tencent in numerous different roles including VP of Business Development for Tencent Games and General manager for Tencent's US branch where he was responsible for Tencent's US operations.

In Today’s Episode You Will Learn:

1.) How Brad made his way into the world of technology with Tencent, how that led to the world of investing and then what was that a-ha moment for the founding of Lime? How did Brad's time with Tencent impact his operating mentality today with Lime?

2.) With significant levels of competition, how does Brad assess the competitive landscape today for micro mobility? Does Brad believe customer loyalty comes into play in the segment? Is capital itself a defensible moat in this market? Why is Brad adamant that it is important to spend $0 on marketing? What does this say about the product?

3.) How does Brad think about technological innovation within the space? Does it subscribe to Moore's law in the advancement of the core components? How does Brad think about inherent trade-offs that have to be made in product decisions? How does Brad think about prioritising for unit cost vs product superiority? Why can you not have it all?

4.) How does Brad think about launching new cities? What does it take to win in those geographies? What are all the necessary parts to setup when entering a new location? What is the biggest determinant of a location success? Density? Maturity?

5.) Brad has assembled a truly world-class exec team, what does Brad think it takes to attract truly A* talent? When should founders really start to think about building out their own exec team? What does Brad believe it is that makes his partnership with Toby Sun work so well? What have been his learnings from the development of that relationship?

Items Mentioned In Today’s Show:

Brad’s Fave Book: Good To Great by Jim Collins

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