The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Brad Feld on Why Market Size At Early Stage Is Not Helpful, His Biggest Learnings From The Boom & Bust of The Dot Com and How The Best VCs Work For Their CEOs

Sep 30, 2019
Brad Feld, Managing Director at Foundry Group and co-founder of Techstars, shares his insights on venture capital shaped by the dot-com boom and bust. He discusses the challenges of transitioning from angel investing to VC, emphasizing long-term strategies. Brad also explores market cycles, expressing the need for entrepreneurs to understand these dynamics. He champions authentic business relationships and the importance of optimism in managing investments. Finally, he highlights the critical role of governance in supporting CEOs.
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ANECDOTE

Brad Feld's Path to VC

  • Brad Feld's path to venture capital started with entrepreneurship, then angel investing, and accidentally becoming a VC.
  • He initially struggled to transition from operator to investor, realizing he wasn't in charge after the dot-com bust.
INSIGHT

Product vs. Market

  • Early-stage market size is often unhelpful; it's either zero or infinite.
  • Successful founders shift from product focus to company focus as their business grows.
INSIGHT

Path to Success

  • Successful companies and investors view business growth as a series of experiments, learning from both successes and failures.
  • There isn't one specific mistake that leads to failure, but rather a multitude of categories.
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