Equity Floodgate's Mike Maples says startups that people 'don't like' may be the best ones to back
Jul 10, 2024
In a captivating conversation, Mike Maples Jr., co-founder of Floodgate and angel investor behind successes like Twitter and Lyft, dives into his investment philosophy. He emphasizes that revolutionary startups often face initial rejection. Mike shares regrets about missing out on Airbnb and highlights how Lyft disrupted the ride-sharing landscape. The discussion pivots to AI's role in business strategy, stressing that innovative founders with compelling stories will stand out. He also explores the promising horizons of investment in AI and Bitcoin.
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Contrarian Investing
- Competitive investment opportunities are often a bad sign for Mike Maples Jr..
- Widespread appeal suggests an idea isn't disruptive enough.
Missed Airbnb
- Mike Maples Jr. passed on an early Airbnb investment at a $1.5 million valuation.
- It would have yielded a 6,000x return, a decision he calls his biggest miss.
Lyft's Illegal Start
- Mike Maples Jr. invested in Lyft despite its initial illegality, seeing its potential to disrupt taxis.
- This highlights his willingness to back unconventional, pattern-breaking companies.
