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EP 40: Peter Fenton, VC and Founder Mindsets, Current Market State and Rashad’s New Podcast

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Nov 4, 2022

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Peter Fenton

01:32:39

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ANECDOTE

Early VC Exposure Shapes Career

Peter Fenton grew up in Silicon Valley with early exposure to venture capital through his father.
This childhood influenced his fascination with entrepreneurship and shaped his career aspirations early on.

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ANECDOTE

Mentorship Forged Early Skills

Peter worked intensely at Excel during the dot-com bubble as a venture capitalist apprentice.
He credits mentors like Arthur Patterson and Dave Strong for teaching him truth-seeking and strategic board involvement.

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ANECDOTE

Joining Benchmark Against Odds

Peter tried to join Benchmark early but was initially rejected by Bruce Donlevy.
He eventually moved from Excel to Benchmark accepting a big pay cut to join a firm with culture he admired.

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Is There a Secret Meeting I Get to Go to Now?

VegMark Investors Podcast - Conversation I Have With Peter Fenton

07:45 • 2min

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What Was Your Exposure Growing Up to VCs?

The Relational Side of the Business Through Success

20:04 • 5min

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Mentorship Is a Weak Proxy for Character

25:00 • 4min

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Is Benchmark a Renegade Firm?

28:51 • 3min

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Do I Want to Do Something?

32:03 • 2min

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Are You Taking the Risk, Not Us?

34:14 • 2min

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I'm a Level Below. I'll Just Earn the Trust and Respect of the Individual

36:23 • 2min

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I Think the CRM Is Going to Come Out and We're Not Honoring.

38:20 • 2min

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Are You Getting the Prepared Mind Ethos in Venture Capital?

40:31 • 3min

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How Do You Modulate That Instinct?

43:46 • 5min

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Is There a Difference Between B2B and B2C?

49:01 • 5min

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How Do Compounding Work?

53:47 • 4min

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Do You Think in Probabilities When Making Investments?

58:15 • 5min

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The Trappings of Success and Ego

01:03:07 • 6min

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How Has Benchmark Adapted?

01:08:50 • 5min

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Venture Capital Firms - Is Your Website Broken?

01:13:49 • 2min

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Is My Equity Grant Real?

01:16:15 • 2min

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Is There a Liquid Market?

01:18:08 • 3min

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How to Be a Resource for Founders

01:21:22 • 2min

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Is Private Venture Investing Going to Outperform the NASDAQ?

01:23:45 • 2min

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The Persistence in the Venture Asset Class

01:25:15 • 2min

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Is Robert Sapolsky a Mentor?

01:26:49 • 5min

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In the 40th episode Benchmark’s Peter Fenton joins to discuss his early VC aspirations and path to get where he is now, the successful VC and entrepreneurial mindsets, plus inflation and the current market state. Rashad also joins to discuss Rahul Ligma, Twitter layoffs, and his brand new show No Agenda.

(0:00) Intro/Rahul Ligma

(04:56) Rashad’s new podcast “No Agenda”

(9:28) Introducing Peter Fenton

(17:06) Working at Accel

(24:59) Mentorship

(28:50) Benchmark

(39:21) Entrepreneurial mindset

(49:19) Successful founder characteristic

(54:08) Estimating timelines

(1:03:07) Everyone gets worse in venture over time

(1:13:48) VC websites

(1:19:18) Inflation

(1:26:55) Robert Sapolsky

(1:32:06) Outro

Show Notes:

Subscribe to No Agenda: https://open.spotify.com/show/2KHruq3qC0IKm5U9wOIjKZ?si=13bab75351d74c70

https://youtube.com/playlist?list=PLBgv57GHyNgjhl3CBB3XtXp2JylaVKdNs

Rahul Ligma: https://twitter.com/Rezowan_/status/1586047782351441920?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1586047782351441920%7Ctwgr%5Ef725476e02dc15cc5f19f20bc8c3527e61e44c4f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.theverge.com%2F2022%2F10%2F28%2F23428775%2Ftwitter-fake-employee-layoff-rahul-ligma-elon-musk

Mixed and edited: Justin Hrabovsky

Produced: Andrew Nadeau and Rashad Assir

Executive Producer: Josh Machiz

Music: Griff Lawson

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About the Show

A Saturday morning podcast hosted by Logan Bartlett (Partner and Managing Director at Redpoint Ventures) covering the tech news with his friends and other people with industry expertise.

Executive Producer: Rashad Assir

Producer: Leah Clapper

Mixing and editing: Justin Hrabovsky

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About the Show

Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode of The Logan Bartlett Show, we sit down with the people behind today’s most important startups and extract the tactics, lessons, and frameworks they’ve learned the hard way. Conversations span hiring to GTM, product, growth, fundraising and everything in between - collectively forming the ultimate playbook to make you a better CEO, investor or board member.

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