The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Postmates Founder Basti Lehmann on How the Uber Deal Went Down and How a $2.65BN Deal Turned into $5BN, Why Great VCs Add No Value and VC Value Add is BS Marketing & Why The Biggest Companies in History Will be Born Today and Replace Incumbents
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Apr 8, 2024 Basti Lehmann, co-founder and former CEO of Postmates, shares his journey from a US immigrant to leading a billion-dollar company. He discusses the intricacies of Postmates' $2.65BN acquisition by Uber, revealing valuable negotiation tactics. Basti critiques the venture capital industry, claiming that most VCs offer little true value and stressing the importance of educating investors. He also predicts that the biggest companies are emerging today, questioning whether incumbents can withstand the rise of new startups and innovations in AI.
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Early Hacking Days
- Basti Lehmann as a child hacked AT&T calling cards with a friend to get free internet.
- They practiced American accents and tricked people into revealing their card details.
Parental Divorce and Impact
- Basti Lehmann's parents divorced when he was six, impacting him significantly.
- His mother worked multiple jobs to support the family, shaping his work ethic.
Mother's Influence
- Witnessing his mother's hard work, Basti was motivated to provide for her.
- This fueled his ambition and determination to achieve financial success.