E21: Reddit Founder Alexis Ohanian on Reinventing Venture with Seven Seven Six
"Turpentine VC" | Venture Capital and Investing
Reimagining and Differentiating a Venture Firm for the Future
Exploring the changes in the venture industry and the importance of operational rigor, alignment with LPs, and a team with operator backgrounds.
In this episode of Turpentine VC, Alexis Ohanian, co-founder of Reddit and Seven Seven Six, joins Erik Torenberg to discuss how Seven Seven Six is a “tech company that deploys venture capital”, the lack of internal metrics in venture, and how he plans to reinvent venture using software. If you’re looking for an ERP platform, check out our sponsor, NetSuite:http://netsuite.com/turpentine
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Seven Seven Six just launched a new website that displays what the firm has done in the last 365 days. Check it out: https://sevensevensix.com/
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Join our free newsletter to get Erik's top 3 insights from each episode: https://turpentinevc.substack.com/
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X / TWITTER:
@alexisohanian (Alexis)
@eriktorenberg (Erik)
@Turpentinemedia
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TIMESTAMPS:
(00:00) Intro
(01:11) Alexis's Experience at Initialized
(01:21) Formation and Vision of 776
(06:15) 776's Approach to Venture Capital
(07:10) 776's Unique Approach to Software
(13:36) The Development of Cerebro
(14:21) The Importance of Feedback and Accountability
(25:34) The Future of 776
(27:00) The Power of Software in Venture Capital
(28:18) The Future of VC: Roadmap and Opportunities
(30:18) Reimagining the Office Space: The Agora IRL Concept
(32:40) Sponsor Break: NetSuite and Shopify
(35:22) The Importance of Operational Rigor in VC
(39:11) The Future of 776: Fund Size and Strategy
(49:19) The Role of Software in Sourcing and Evaluating
(52:06) Closing Thoughts: The Future of VC and 776
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