Former Twitter and Facebook Execs Are Going Deep on B2B Software
Nov 11, 2023
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Former Twitter and Facebook execs, Dick Costolo, Adam Bain, and David Fisher, discuss their decision to join Owen Advisors and their approach to investing. They also touch on the challenges and value in seed to series B funding and the power of network effects in Twitter. Additionally, they share insights on Snapchat and its value.
Owen Advisors, founded by former Twitter executives Dick Costolo and Adam Bain, has raised a $395 million fund to invest in series B-stage startups that sell business software and FinTech services.
01 Advisors, led by Dick Costolo, Adam Bain, and David Fisher (formerly of Facebook), focuses on providing hands-on operational support to help companies scale and navigate the transition from product-market fit to building a successful business.
Deep dives
Owen Advisors raises a $395 million fund to invest in series B-stage startups
Owen Advisors, founded by Dick Costolo and Adam Bain of Twitter, has raised a $395 million fund to invest in series B-stage startups that sell business software and FinTech services. Their approach to investing is somewhat different from their peers, as they do not take board seats. The firm has previously invested in successful companies like Tepalti, SpotOn, and Honeybook.
The Humane AI Pin offers AI-powered functionality outside of phones
The Humane AI Pin is a small device that attaches to clothing and enables users to perform smartphone functions while tapping into the power of AI. It can process and translate conversations, analyze food, track dietary plans, and more. While some skepticism exists about its high price point and potential redundancy compared to smartphones, the pin's streamlined functionality and focus on AI are seen as potential inspirations for embedding AI in smartphone operating systems.
01 Advisors discusses their investment approach and experiences
01 Advisors, led by Dick Costolo, Adam Bain, and David Fisher (formerly of Facebook), shares insights into their investment approach. They focus on series B-stage investments and provide hands-on operational support to help companies scale. Their emphasis is on helping leadership teams navigate the transition from product-market fit to building a successful business, utilizing lessons learned from their experiences at Twitter and Meta. They strive to be collaborative and complementary to other investors.
The advantages and challenges of not taking board seats
01 Advisors explains their decision not to take board seats in the companies they invest in. This approach allows them to have closer relationships with the CEOs and executive teams, providing more candid and forthright guidance. They offer their expertise and support in various aspects of the business, from strategic decision-making to crisis communications. Their model fosters greater responsiveness and helps optimize the efficiency of board meetings.
Connie & Alex talk tech news, and then Connie interviews Dick Costolo (former Twitter CEO), Adam Bain (former Twitter COO), and David Fisher (former Facebook Chief Revenue Officer) of 01 Advisors.
Music: 1. "Inspired" by Kevin MacLeod (https://incompetech.filmmusic.io/song/3918-inspired) 2. "Blippy Trance" by Kevin MacLeod (https://incompetech.filmmusic.io/song/5759-blippy-trance) 3. "Dream Catcher" by Kevin MacLeod (https://incompetech.filmmusic.io/song/4650-dream-catcher) 4. "Pamgaea" by Kevin MacLeod (https://incompetech.filmmusic.io/song/4193-pamgaea) 5. "EDM Detection Mode" by Kevin MacLeod (https://incompetech.filmmusic.io/song/3687-edm-detection-mode)
License: https://filmmusic.io/standard-license
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