Origins - Inside Venture Capital, Hosted by a GP and an LP

Finding Founders Who Will Change the World with Wesley Chan

Nov 13, 2024

Wesley Chan, co-founder of FPV Ventures and former Chief of Staff to Sergey Brin at Google, shares his remarkable journey in Silicon Valley. He reflects on his mantra that if you're not changing the world, you're wasting your time. Wesley discusses the importance of high standards in innovation and his philosophy on seeking founders with 100-year plans. He emphasizes fostering long-term impact over short-term gains and the significance of trust in the venture capital-founder dynamic. His insights illuminate what it takes to craft timeless ventures.

42:17

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Episode guests

Wesley Chan

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Quick takeaways

Wesley Chan emphasizes the significance of identifying founders with a century-long vision, aiming to create transformative products that meet user needs.

The motivation to prove oneself right, rather than seeking validation from others, profoundly shapes Chan's investment philosophy and founder evaluation criteria.

Chan highlights the critical role of timing in investments, advocating for a focus on market dynamics and societal shifts to identify promising ventures.

Deep dives

Wesley Chan's Impact on Venture Capital

Wesley Chan, a prominent figure in Silicon Valley, significantly influenced the venture capital landscape through his successful tenure at Google Ventures. He was instrumental in backing iconic startups such as Plaid and Robinhood, demonstrating an ability to identify game-changing companies early on. Chan emphasizes the importance of seeking out founders with extraordinary visions and the potential to create transformative products that resonate with user needs. His experience at Google, where he navigated high expectations and standards, cultivated a keen insight into assessing both potential and timing in investment opportunities.

Intro

2min

The Impact of High Standards on Innovation and Investment Philosophy

4min

The Vision Behind Gmail: A Lesson in Bold Innovation

3min

Visionaries in Innovation

26min

The Pursuit of Long-Term Impact in Venture Capital

5min

Crafting Timeless Ventures: The Art of Boutique Capital

3min

Wesley Chan is a true legend in Silicon Valley. He spent time at Microsoft and HP, and in 2002 he jumped to Google. There, he worked as Sergey Brin’s Chief of Staff and founded Google Analytics and Google Voice - all before then founding and leading the seed investing program at Google Ventures as GP. Under his tenure, GV was the first institutional check into companies like Plaid, Gusto, Lucid, and Robinhood. Wesley sits down with Nick Chirls, GP at Asylum Ventures, and Beezer Clarkson, LP at Sapphire Partners, to discuss his investment philosophy and what motivates him. Wesley discusses his early days at Google being pushed to make products that change the world, finding founders who have a 100-year plan, and being driven not by the desire to prove other people wrong, but to prove himself right.

Learn more about Sapphire Partners: sapphireventures.com/sapphire-partners

Learn more about OpenLP: openlp.vc

Learn more about Asylum Ventures: asylum.vc

Learn more about FPV Ventures: fpvventures.com

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CHAPTERS:

0:00-Introduction & the Burning Question3:11-Working for Sergey Brin: “If you’re not changing the world, you’re wasting your time.”

9:22-They're not there to screw the world, they're there to improve the world.

15:07-I'm not a university or your tuition money. We're giving you a check to go win.

17:05-Knowing just enough to be dangerous

27:58-The Exit Market: No one wants to test the market. LPs, hang on.

33:07-FPV’s take on AI

34:09-Founder success is the gift that keeps on giving

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