EUVC

EUVC #252: Fred Destin on his decision to pause on venture in honest conversation with Joe Schorge

Dec 1, 2023

Former VC giant, Fred Destin, discusses his decision to pause on venture capital and his journey of personal introspection. They explore the rise of new VC funds, the challenges of running a firm and raising funds, and the importance of self-awareness and humility in the industry. They also touch on the value of personal growth, trust, and transparency, as well as the challenges and opportunities brought by AI and new technology waves.

48:19

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Episode guests

Fred Destin

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Highlights

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Quick takeaways

The importance of aligning personal values with professional actions and constantly learning in order to bring value to founders and build better companies.

The need for humility, self-awareness, and the responsibility to support and guide founders during difficult moments in the venture capital industry.

Deep dives

Fred's Decision to Pause and Reflect

Fred discusses his decision to take a pause from the venture capital market and reflect on his role and contribution. He shares personal experiences that led him to question the meaning of his work and the definition of success. Fred emphasizes the importance of self-interrogation and aligning personal values with professional actions. He also acknowledges the need for constant self-discovery and learning in order to bring value to founders and build better companies.

Challenges in Managing Growth and Burn Agenda in Venture Capital

01:23

Enriched experience through meditation and emotional awareness

01:24

The Importance of Trust, Truth, and Transparency for VCs

01:23

Introduction

2min

Pausing on Venture Capital

23min

The Surprising Number of New Basic Funds Launching and the Concerns About Undifferentiated Firms at the Seed Stage

2min

Venture Capitalists and the Value They Bring

12min

Reflection, Trust, and Challenges in Venture Capital

6min

The Importance of Personal Growth and Being Present

4min

We always hear from new VCs entering the market, but rarely do we ever hear from giants leaving the market. Today, we bring you such a conversation.

Honoring the gravity of the situation and the commitment by Fred Destin to share so openly, we invited Joe Schorge, founding partner of Isomer Capital and one of Europe’s most important LP voices, to lead the conversation.

We hope you enjoy listening in as much as we did 💞 watch it in full on eu.vc 👀

Chapters:
00:00:00 - The EUVC podcast with Joe Schorge and Fred Destin
00:02:54 - The Decision to Pause
00:04:59 - Journey of Personal Interrogation
00:07:08 - Motivation and the Next Iteration
00:09:20 - Stepping out of the Noise
00:11:19 - The Challenges of Running a Firm and Raising Funds
00:13:16 - Investor Reactions to Fundraising Efforts
00:15:14 - The State of Fundraising and LP Responsibility
00:17:24 - Positive Response to the Blog Post
00:19:08 - Triggered Responses and Leaving the Prevailing Narrative
00:20:19 - Mistakes and Challenges in Going Public with Cazoo
00:23:08 - The Rise of New VC Funds
00:25:08 - Knowing Your Value and Purpose
00:28:58 - Holding Ambiguity as a VC
00:31:00 - Self Awareness and Humility
00:32:57 - Investor Alignment and Board Tensions
00:35:11 - Shielding Founders and Managing Conflict in Investments
00:37:25 - Framing Discussions in the Right Way
0:38:40 - The State of the Industry Update for 2024
00:43:23 - The Importance of Shadow Work and Enhancing the Present Moment
00:45:20 - The Importance of Personal Work and Connection
00:47:02 - Future Coaching Program for Young VCs

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