This Week in Startups Why some VCs won't invest in first-time founders + $369B carve-out for climate/energy | E1528
Aug 7, 2022
Jay Koh, co-founder of The Lightsmith Group, dives into the hefty $369 billion earmarked for climate and energy in the Inflation Reduction Act. He discusses how this legislation can transform the climate VC landscape and elevate America as a global climate tech leader. The episode also tackles the bias against first-time founders in the VC world, revealing the pros and cons while emphasizing the importance of strategic government investment in fostering innovation and economic resilience amid climate challenges.
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First-Time vs. Experienced Founders
- First-time founders might possess disruptive views and naiveté about challenges, sometimes leading to breakthroughs.
- However, experienced founders possess refined skills in leadership, hiring, and market timing.
Learning from Failures
- Each startup failure teaches valuable lessons, making founders approximately 50% better with every experience.
- The optimal founder age balances energy with experience, often falling between 30s and 40s.
Travis Kalanick's Journey
- Travis Kalanick's Uber was his third venture, demonstrating that persistence can lead to massive success.
- Jason Calacanis invested in Kalanick's first company, securing a position in his later, more valuable ventures.
