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Todays show:
Altimeter's Jamin Ball joins Alex Wilhelm to discuss VC-founder dynamics, fund returns, rapid fundraising, and its impact on M&A. They cover public vs. private valuations, startup liquidity, AI's influence, SaaS trends, and Jamin’s outlook on IPOs and exits.
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Timestamps:
(0:00) Jamin joins Alex to kick off the show
(6:30) Alignment of incentives between VCs and founders
(10:25) LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist
(11:54) Venture capital allocation demand and its impact
(15:55) Comparison of returns between small and large venture funds
(21:54) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
(23:23) Power laws in startups and venture capital's impact
(24:19) Effects of rapid fundraising cycles on founders
(31:33) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech
(32:59) Raising large rounds and long-term commitments
(35:15) Venture capital's influence on startup M&A activity
(37:38) Public vs private market valuation disparities
(39:24) Future of startup liquidity and exit scenarios
(46:06) Proposals for realigning venture capital funds and founder incentives
(47:41) Impact of AI on startup growth and venture capital
(52:20) SaaS multiples and cloud software market analysis
(57:43) Software spending trends and startup optimism for 2024
(1:00:15) Procurement scrutiny in startup budgets and market differentiation
(1:01:17) Promising companies and Jamin Ball's investment outlook
(1:01:28) Expectations for IPOs and startup exits in the coming year
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Mentioned on the show:
Join Jamin’s substack here: https://cloudedjudgement.substack.com/
Jamin’s article: https://cloudedjudgement.substack.com/p/clouded-judgement-102524-misaligned
Check out Altimeter: https://www.altimeter.com/home
Follow Bill Gurlery on X: https://x.com/bgurley
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
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Follow Jamin:
X: https://x.com/jaminball
LinkedIn: https://www.linkedin.com/in/jamin-ball-49366137
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Follow Alex:
X: https://x.com/alex
LinkedIn: https://www.linkedin.com/in/alexwilhelm
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Follow Jason:
X: https://twitter.com/Jason
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
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Thank you to our partners:
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(31:33) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech
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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
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