Investing in the Product Market

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When we're investing at haystack, the racetrack may be unknown or doesn't exist yet. So all you can evaluate is a jockey, but all those other elements matter. Have they faced adversity? Have they gone through hardship? Do they have a commercial sensibility? You know, and I think all these things can come out through conversation. One's going to be hit everything on every dimension, but you can find people who kind of spike in different areas. And what I try to look for is just those spikes who has interesting spikes, right?

In the 43rd episode Semil Shah, Partner at Haystack, joins to discuss whether the company brand name or partner matters more in VC, how he almost invested in Coinbase when it was at only $20M, the flywheel of VC and how it’s evolving and what he looks for in a founder.

(0:05) Welcome Semil Shah

(7:08) Early VC content creation

(18:12) Brand name vs partners in VC

(26:06) The VC flywheel

(35:03) Your role in venture

(45:00) What you look for in founders

(54:12) Where do your deals come from

(58:20) Open AI

(1:02:45) Dry powder

(1:06:27) How would you manage your third fund?

(1:14:40) Semil’s take on crypto

(1:21:02) Podcasting evolution

(1:27:24) Outro

Mixed and edited: Justin Hrabovsky

Produced: Andrew Nadeau and Rashad Assir

Executive Producer: Josh Machiz

Music: Griff Lawson

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About the Show

A Saturday morning podcast hosted by Logan Bartlett (Partner and Managing Director at Redpoint Ventures) covering the tech news with his friends and other people with industry expertise.

Executive Producer: Rashad Assir

Producer: Leah Clapper

Mixing and editing: Justin Hrabovsky

Check out Unsupervised Learning, Redpoint's AI Podcast: https://www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA

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About the Show

Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.