Jules Maltz, General Partner, IVP

Key takeaways:

1. Companies don't go out of business because the idea fails, they go out of business because they run out of money. Protecting your resources allows you to pivot and weather the storm.

2. Building in "degrees of freedom" that allow the business to sustain revenue decline/downturns is critical and should be part of the scenario testing process.

3. For aspiring VCs, begin looking for investments now and building the skillset, there are some great companies being built and it is a great time to learn.