Exchanges Finding the Right Problems: How Sutter Hill Ventures’ Mike Speiser Creates Great Companies
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Aug 7, 2025 
Mike Speiser, Managing Director at Sutter Hill Ventures and a key player behind successes like Snowflake and Pure Storage, dives into the art of building great companies. He emphasizes the significance of integrity and collaboration in a unique funding model. Mike shares insights into Snowflake's groundbreaking journey and stresses the need for continuous innovation in leadership. He also discusses AI's role in health and the importance of balancing passion with personal responsibility in a fast-paced world.
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Building Beyond Conventional VC
- Mike Speiser wanted to build a continuous product incubator within venture capital.
- Despite skepticism, Sutter Hill allowed him to start Pure Storage and evolve the firm that way.
Builder Identity in Venture Capital
- Mike Speiser identifies himself more as a builder than a pure investor.
- Over 90% of his major returns came from companies he helped create and lead.
Sutter Hill as a Startup Studio
- Sutter Hill today operates more like a startup with mainly engineers and researchers, not traditional investors.
- The firm’s culture embraces technical rigor and deep product building.