The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified 499. A 17 Time Midas Lister on Greatness, the $6T AI Teammate Market, Why AI Sovereignty Is Critical, and Who Wins the Battle Between Incumbents and Startups (Navin Chaddha)
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Jan 5, 2026 Navin Chaddha, a managing partner at Mayfield and a 17-time Midas Lister, discusses his journey from founding early internet video startups to shaping today's venture capital landscape. He highlights the critical role of AI teammates in a $6 trillion market and the importance of AI sovereignty for national competitiveness. Navin also shares insights on evaluating founders, emphasizing traits like empathy and integrity. He warns about potential valuation bubbles while encouraging a disciplined focus on long-term returns in venture investing.
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Early Video Startup Successes
- Navin Chaddha recounts founding VXtreme and iBeam, building breakthrough internet video tech that led to Microsoft acquisition and rapid adoption.
- He describes serial entrepreneurship leading to VC where he’s worked with 60+ founders and seen 17 public companies emerge.
People Skills Predict Founder Success
- Great founders share people-first traits: empathy, curiosity, high EQ, team orientation, and growth mindset.
- These human qualities predict long-term company-building success more than charisma alone.
Investors Want Time, Not Speed
- Spend significant time with investors if you want them to evaluate you; relationships matter more than a quick pitch.
- Navin refuses one-hour decisions and expects founders to engage deeply before investing.
