The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Sequoia's Roelof Botha on His Biggest Lessons Working Alongside Don Valentine, Mike Moritz and Doug Leone, Leading Sequoia's US Business and What Sequoia Do To Retain Their Edge at the Top & The Crucible Moments That Define Startup Success
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Oct 26, 2020 
Roelof Botha, a Partner at Sequoia Capital and former CFO of PayPal, shares insights from his remarkable journey in venture capital. He discusses key lessons learned from industry legends like Don Valentine, emphasizing the importance of founder assessment and strategic decision-making. Botha evaluates the current fundraising landscape while warning against overconfidence in investment success. He highlights the value of resilience, effective governance, and the power of vulnerability in team dynamics, all crucial for navigating the complex tech startup ecosystem.
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Accidental VC Path
- Roelof Botha's path to venture capital was accidental, starting with an interest in actuarial science for international mobility.
- He joined PayPal after Stanford Business School, becoming CFO at 27, then transitioned to Sequoia through an unexpected interview.
From Intern to CFO
- Roelof joined PayPal in March 2000 after running out of savings due to the Rand's devaluation.
- He transitioned from intern to CFO after demonstrating financial modeling skills and raising concerns about fraud risks, eventually taking PayPal public.
Growth vs. Efficiency
- Witnessing PayPal's high burn rate taught Roelof the importance of runway and cost efficiency, lessons he applies when advising founders today.
- While acknowledging the need for capital in some ventures, he emphasizes the importance of balancing growth with responsible spending.
