This Week in Startups E40: “Angel” Podcast: Jeff Richards, Managing Partner at GGV Capital shares lessons for founders & investors from 2008 recession & Dot-com bust, criteria for taking on venture debt, valuing companies in a down market & more
Apr 1, 2020
In a compelling discussion, Jeff Richards, Managing Partner at GGV Capital, shares insights from his extensive experience navigating crises in the startup landscape. He reflects on lessons learned from the 2008 recession, emphasizing the importance of a level-headed approach for founders. Jeff advises on taking venture debt and pricing strategies in a fluctuating market. He also explores the dynamics between board members during turbulent times, advocating for effective guidance to help companies pivot successfully. Ultimately, he remains optimistic about tech's resilience and future opportunities.
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Crisis Mindset
- Experiencing major crises leads to a more balanced outlook and cautious optimism.
- It's important to prepare for long-term recovery and invest wisely during crises.
Seasoned Founder Approach
- Seasoned founders prioritize decisive action and long-term company health during crises.
- They acknowledge the impact of the crisis and adapt quickly, focusing on future stability.
First-Time Founder Advice
- First-time founders should model various revenue impact scenarios.
- Focus on cash flow and expenses, especially recurring revenue and cash implications.