The Journey to Becoming a Great Consumer Investor and Creator with Rex Woodbury
May 2, 2023
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Rex Woodbury, partner at Index Ventures and author of Digital Native, discusses his journey into venture capitalism, consumer investing, trends among Gen Zs, and how to identify the best founders. He also shares personal stories about growing up with filmmaking, explores the changing use of technology, and emphasizes the importance of building deep domain expertise and emotional intelligence.
Building rapport with entrepreneurs and valuing founder-market fit are crucial in consumer investing.
Finding a balance between online engagement and offline connections is important for Gen Z's mental health and social interaction.
Being entrepreneur-led and adaptable, challenging biases, and leveraging marketing skills are key factors in successful investing.
Deep dives
Building Rapport with Entrepreneurs
Rex Woodbury emphasizes the importance of building rapport with entrepreneurs, using his skills in relationship-building to quickly develop connections and understand their perspectives and insights. He values founder-market fit and looks for entrepreneurs with unique insights and clarity of thought.
Trends in Gen Z and Technology
Rex discusses the significant amount of time Gen Z spends on smartphones and social media platforms, highlighting the need to find a balance between online engagement and the richness of offline connections. He recognizes the potential negative impact on mental health and social interaction, and anticipates the emergence of social networks that merge creation and play, possibly resembling gaming platforms.
Investing Approach and Insights
Rex emphasizes the importance of being entrepreneur-led and adaptable, rather than solely driven by a specific investment thesis. He looks for entrepreneurs with founder-market fit, clarity of thought, and unique insights. He also acknowledges the dangers of biases and the need to constantly challenge and check them. Rex believes in leveraging his skills in marketing and distribution and is confident in his work ethic and hustle.
Favorite Books, Podcasts, and Skincare Routine
Rex highlights the science fiction novel 'Project Hail Mary' by Andy Weir and the entrepreneurship-focused novel 'Tomorrow, and Tomorrow, and Tomorrow' as two recent favorites. He also mentions podcasts like 'Acquired FM' and 'Song Exploder' that delve into topics he is passionate about. Regarding skincare, Rex emphasizes the importance of moisturizing and using SPF 50 every day.
Learnings and Advice
Rex reflects on the lesson of following one's passion and being true to oneself in career choices. He wishes he had embraced this mindset earlier in his career, recognizing the need to focus on areas where one can be world-class and fulfilled. He encourages young people to deeply consider their passions and interests when shaping their lives and careers.
This week we had the honour of interviewing the amazing Rex Woodbury, partner at Index Ventures and author of Digital Native. We dived deep into Rex’s drivers, family unit, sacrifices and journey into VC. We then explored consumer investing, trends amongst Gen Zs and how Rex identifies the best founders. This isn’t an episode you want to miss.
Rex’s newsletter: https://digitalnative.substack.com/
This episode is sponsored by Recess a great Aussie startup providing furniture for your home and office. They’ve fitted out thousands of Aussies including the offices of Eucalyptus, Lyka and Afterwork. Use the code SACHINANDADAM for 20% off your next order. Check them out: https://recess.com.au/
This episode is also supported by our friends at Employment Hero. Make sure you search Global Teams by Employment Hero. You can get your first months management fee free! All you need to do is go onto the employment hero website and click on the “request a demo” button on the website, and mention Sachin & Adam. You can find more at https://employmenthero.com/products/employer-of-record/
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