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20VC: Sequoia's Pat Grady on What Sequoia Is Focused On Today, How Sequoia Think About Investment Decision-Making Processes & Why It Is Important To Trade A Few Points of Efficiency for Culture When It Comes To Attribution

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

Release Date: 07/01/2019

20VC: Benchmark's Sarah Tavel on Why Chasing GMV Will Lead To The Wrong Direction, The 2 Crucial Tipping Points For Marketplace Adoption, Why UGC Plays Are Like Marketplaces & How To Determine Between Existential and Non-Existential Risk show art 20VC: Benchmark's Sarah Tavel on Why Chasing GMV Will Lead To The Wrong Direction, The 2 Crucial Tipping Points For Marketplace Adoption, Why UGC Plays Are Like Marketplaces & How To Determine Between Existential and Non-Existential Risk

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

is a General Partner @ , one of the most successful funds of the last decade with a portfolio including the likes of Uber, Twitter, Dropbox, WeWork, Snapchat, StitchFix, eBay and many more. As for Sarah, prior to joining Benchmark, she was a General Partner at another globally renowned firm, Greylock, where she led deals in Sonder and Gixo. Pre-Greylock, Sarah was the first PM @ Pinterest where she led three acquisitions, launched Pinterest internationally, and was responsible for closing their $100m Series C financing. 20VC: Benchmark's Sarah Tavel on Why Chasing GMV Will Lead To The...

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20VC: Alexis Ohanian on Why Now Was The Right Time To Start Seven Seven Six, The 2 Very Distinct Types of Deals In Venture & The Unbundling of Social in 2021 show art 20VC: Alexis Ohanian on Why Now Was The Right Time To Start Seven Seven Six, The 2 Very Distinct Types of Deals In Venture & The Unbundling of Social in 2021

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

is the Founder @ , his new fund which just recently announced their first investment leading the $4M seed round for Dispo. Prior to founding Seven Seven Six, Alexis was the Co-Founder & Managing Partner @ Initialized Capital, where he backed many a unicorn including Ro, Flexport, Patreon, GOAT just to name a few. Alexis is also the co-founder @ Reddit, commonly referred to as the front page of the internet, their latest valuation priced the company at $3Bn. In Today’s Episode You Will Learn: 1.) When Alexis left his L Sats to go get waffles, what did he learn about himself? How did...

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20VC: Slack Founder Stewart Butterfield on Leadership Styles, Decision-Making, The 3 Levels of Wealth, IPOs vs Direct Listings & Why Effective Entrepreneurship is Like Parkour show art 20VC: Slack Founder Stewart Butterfield on Leadership Styles, Decision-Making, The 3 Levels of Wealth, IPOs vs Direct Listings & Why Effective Entrepreneurship is Like Parkour

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

is the Founder & CEO @ , the leading channel-based messaging platform, used by millions to align their teams, unify their systems and drive their businesses forward. Prior to their direct listing in June 2019, Stewart raised over $1.3Bn from the likes of Accel, Thrive, Softbank, Kleiner, IVP, T Rowe, GV and a16z to name a few. Prior to founding Slack, Stewart co-founded Flickr, a company he built into one of the largest web services in the world. Due to his many incredible successes, Stewart has been named to the 100 Most Influential People in the World by Time Magazine, and one of...

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20VC: Accel's Dan Levine on The Current State of Seed & Series A, The Rise of Pre-Emptive Rounds, Solo Capitalists and Multi-Stage Funds Entering Seed & Market, People and Product; What To Prioritise? show art 20VC: Accel's Dan Levine on The Current State of Seed & Series A, The Rise of Pre-Emptive Rounds, Solo Capitalists and Multi-Stage Funds Entering Seed & Market, People and Product; What To Prioritise?

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

is a Partner @ , one of the world's leading venture firms with a portfolio including the likes of Facebook, Slack, Qualtrics, UiPath and Deliveroo. As for Daniel, he actually joined Accel in 2010 before leaving to join Dropbox. At Dropbox, he worked on the platform team helping open the platform to third-party developers and launched and managed many of the company’s developer-facing initiatives. Following Dropbox, he rejoined Accel and has led investments in Scale.ai, Mux, Vercel and Sentry to name a few. In Today’s Episode You Will Learn: 1.) How Dan made his way into the world...

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20VC: Lessons from Investing in Uber and Airbnb, How To Think Through Bundling vs Unbundling, Late Stage Funds Moving Earlier, Early Stage Funds Moving Later& The Mechanics of Venture That Founders Should Know with Derek Zanutto, General Partner @ Capital show art 20VC: Lessons from Investing in Uber and Airbnb, How To Think Through Bundling vs Unbundling, Late Stage Funds Moving Earlier, Early Stage Funds Moving Later& The Mechanics of Venture That Founders Should Know with Derek Zanutto, General Partner @ Capital

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

is a General Partner @ , Alphabet’s independent growth fund with investments in the likes of Stripe, UiPath, Looker, Robinhood and Lyft to name a few. At CapitalG, Derek has led investments in Collibra, Dataiku and Armis as well as sitting on numerous boards. Prior to CapitalG, Derek spent a decade investing in such companies as Uber, Airbnb, Lynda.com and CAA at investment firms TPG, Hellman & Friedman and GIC. In Today’s Episode You Will Learn: 1.) How Derek made his way from the world of TPG and growth equity to being a GP with Alphabet's independent growth fund, CapitalG? 2.)...

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20VC: Zach Weinberg on Whether A Company is a Democracy, The Importance of Ownership, The Rise of Pre-Emptive Rounds, Multi-Stage Funds Entering Seed and How he Approaches Both Risk and Personal Capital Allocation show art 20VC: Zach Weinberg on Whether A Company is a Democracy, The Importance of Ownership, The Rise of Pre-Emptive Rounds, Multi-Stage Funds Entering Seed and How he Approaches Both Risk and Personal Capital Allocation

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

is a Co-Founder of , operators funding operators, with no outside LPs, just their own capital. Fun fact, 20VC Fund has actually invested with them in 3 companies from Alt, Dooly.ai and Boom Pay. Prior to founding Operator Partners, Zach was the Co-founder/COO of Flatiron Health (acq for $2b) and before Flatiron Zach co-founded Invite Media (acq for $81m). If that was not enough, Zach has also been an incredibly successful angel in the past with a portfolio including RigUp, Ro, Color, BlueApron and Plaid to name a few. In Today’s Episode You Will Learn: 1.) How Zach made his way...

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20VC: The Implications of a Biden vs a Trump Administration on Venture and Startups, How The Rise of Rolling Funds, SPACs and Solo Capitalists Will Impact Venture & What We Can Do To Swing the Race Pendulum in VC with Barry Eggers, Founding Partner @ Ligh show art 20VC: The Implications of a Biden vs a Trump Administration on Venture and Startups, How The Rise of Rolling Funds, SPACs and Solo Capitalists Will Impact Venture & What We Can Do To Swing the Race Pendulum in VC with Barry Eggers, Founding Partner @ Ligh

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

is a Founding Partner @ and currently Chair of the National Venture Capital Association (NVCA) Board of Directors. Lightspeed is one of the premier funds of the last decade with homeruns including Snapchat, Affirm, Mulesoft, Nutanix and Stitch Fix. Prior to LSVP, Barry spent close to 6 years as @ Cisco developing Cisco's initial M&A program and leading the company's first wave of acquisitions and integrations. In Today’s Episode You Will Learn: 1.) How Barry made his way into the world of venture over 20 years ago and how he came to found one of today's leaders, Lightspeed? ...

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20VC: Unity Founder David Helgason on The Hypergrowth Early Days of Unity, Why Running A Company Is Like A Liberal Art, The Secret To A Successful CEO Transition and What Makes Roelof Botha Such A Special Board Member show art 20VC: Unity Founder David Helgason on The Hypergrowth Early Days of Unity, Why Running A Company Is Like A Liberal Art, The Secret To A Successful CEO Transition and What Makes Roelof Botha Such A Special Board Member

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

is the Founder @ , the company that gives content creators the tools to create innovative RT3D experiences and deliver better processes for almost every industry. Prior to their IPO in 2020, Unity raised from the likes of Sequoia, Thrive, DFJ, SilverLake and then individuals including Max Levchin and VMWare's Diane Greene. If that was not enough, David is currently a Partner @ Nordic Makers, a group of ten top Nordic angels working together to be the best angel investors in the Nordics. David also serves on the board of Labster, Realm.io and Quizup. In Today’s Episode You Will Learn: ...

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20VC: Sequoia's Roelof Botha on His Biggest Lessons Working Alongside Don Valentine, Mike Moritz and Doug Leone, Leading Sequoia's US Business and What Sequoia Do To Retain Their Edge at the Top & The Crucible Moments That Define Startup Success show art 20VC: Sequoia's Roelof Botha on His Biggest Lessons Working Alongside Don Valentine, Mike Moritz and Doug Leone, Leading Sequoia's US Business and What Sequoia Do To Retain Their Edge at the Top & The Crucible Moments That Define Startup Success

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

is a Partner @ , one of the world’s leading venture firms with a portfolio including the likes of Airbnb, Instacart, Stripe, UiPath, Zoom, the list goes on. As for Roelof, at Sequoia he has led rounds into the likes of YouTube, Instagram, Eventbrite, Square, MongoDB, 23andMe and Unity Technologies to name a few. Before joining the world of venture, Roelof was the CFO @ Paypal playing a key role in their hyper-growth from 2000-2003. In Today’s Episode You Will Learn: 1.) How did Roelof go from actuary in South Africa to CFO @ Paypal? What were his biggest lessons from seeing Paypal burn...

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20VC: Intercom Founder, Eoghan McCabe on How To Deal with the Weight of Expectation, Having Your Identity Tied To Your Company, How To Be Your Authentic Self Even with Stakeholders & Why There Are No Rules show art 20VC: Intercom Founder, Eoghan McCabe on How To Deal with the Weight of Expectation, Having Your Identity Tied To Your Company, How To Be Your Authentic Self Even with Stakeholders & Why There Are No Rules

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

is a technology entrepreneur. He's started a number of companies, the most notable of which is Intercom, the conversational relationship platform. He was CEO of Intercom for nearly 10 years, during which he grew the company to hundreds of millions in annual revenue, nearly 700 employees, and raised nearly $250M from the likes of Kleiner Perkins, Index, Bessemer, and ICONIQ. He's also invested in dozens of companies including Stripe, Figma, SuperHuman, and Coda. In the summer of 2020 he moved to the role of Chairman of Intercom. In Today’s Episode You Will Learn: 1.) How Eoghan made...

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Pat Grady is a 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 Pat, at Sequoia he co-leads the firms growth investment team and has been involved with some of the true greats, Hubspot, Zoom, Okta, Qualtrics, the list goes on. Prior to Sequoia Pat spent three years with Summit Partners.

In Today’s Episode You Will Learn:

1.) How Pat made his way from Summit Partners to co-leading Sequoia's growth investment team? Was it intimidating for Pat entering a partnership with Jim Goetz, Don Valentine, Roelof Botha? How did he manage those nerves?

2.) So many different funds and activities, so what is Sequoia focused on today? Where does Sequoia think about their ideal insertion point today? How do they see the deployment of their blended capital across rounds? Does Pat believe in ownership on first check or building ownership over time? How does Pat think about the extended window of privatisation with IPOs being continuously delayed?

3.) Does Pat believe that VC really is a team sport today? Does Pat agree with Josh Kopelman's statement, "I would rather be a better picker of partners than investments"? What are the core requirements, skills and traits that Sequoia looks for when adding to their partnership?

4.) What is the investment decision-making process at Sequoia? How do they feel about unanimity vs conviction based investment decisions? What are the pros and cons of each? What does Pat believe is the most non-obvious investment decision that Sequoia have made? Sequoia run an incredibly rigorous process when investing, how does Pat balance between that level of rigour with the speed to win the deal?

5.) What advice would Pat give to someone that has just gained their first institutional board? What does Pat know now that he wishes he had known when he started in VC? How does Pat think about time allocation across the portfolio? Concentrate on winners or the strugglers are where your reputation is built? Leading Sequoia Growth and with a beautiful family, how does Pat approach work/life balance?

Items Mentioned In Today’s Show:

Pat’s Fave Book: God Friended Me

Pat’s Most Recent Investment: Embark: Revolutionizing Commercial Transport 

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