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

20VC: Why Founders Should Take as Many VC Meetings as Possible, Should Founders Meet Associates, How to Get Intros to the Best VCs, How To Extract the Most Value From Your Investors, Why Post IPO Operators Are the Best Angels with Sam Corcos @ Levels

Dec 11, 2023

Sam Corcos, Co-founder and CEO of Levels, shares insights into successful fundraising strategies and the critical role of investor meetings. He emphasizes the value of taking as many VC meetings as possible, revealing common missteps founders make. Corcos advocates for theatrical pitches while also highlighting the importance of genuine communication. He discusses how to leverage investors effectively, forge valuable relationships, and the impact of post-IPO operators as angels. His journey reflects on balancing risk, team dynamics, and the unpredictability of entrepreneurship.

01:08:15

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Episode guests

Sam Corcos

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Quick takeaways

Founders should take as many meetings with VCs as possible to maximize fundraising opportunities.

Early employees at post-IPO companies can be highly valuable investors, offering valuable insights and connections.

Building trust, sharing information, and being proactive in requesting specific help can extract the most value from investor relationships.

Deep dives

Treating Investor Contacts

When fundraising, it is important to treat investor contacts as valuable opportunities and not be afraid to take as many meetings and pitches as possible.

Best meetings - sequoia and A16Z did best preparation

01:45

How to ask things from investors - 3000 requests - 50% conversion

02:07

Overestimating the Fear of Failure

00:40

Anecdote on conflict with cofounder

02:15

Intro

4min

Embracing Spontaneity in Life's Journey

5min

Navigating Risk and Team Dynamics in Entrepreneurship

16min

Strategic Fundraising Insights

18min

Theatrical Pitches and Investor Dynamics

5min

Mastering Time Management and Relationships

15min

Quick-Fire Insights on Technology, Hiring, and Societal Concerns

2min

Reflections on Product Management and Future Aspirations

4min

Sam Corcos is the Co-Founder & CEO @ Levels, the company helping you see how food affects your health with data from biosensors like continuous glucose monitors (CGMs). To date, Sam has raised over $89M for Levels from the likes of a16z (Jeff Jordan sits on his board), Founder Collective, Breyer Capital and Shrug Capital to name a few. Prior to Levels, Sam founded two prior companies, CarDash; a Y Combinator company that makes automotive repair and maintenance convenient. Before Cardash, Sam founded, Sightline Maps, an intuitive platform for 3D printing and visualizing topographical maps, marketed primarily towards the U.S. military.

In Today's Episode with Sam Corcos:

1. The Founding Moment:

What was the a-ha moment for Sam with the founding Levels?
What were the big mistakes Sam made with prior companies that he did not take with him to Levels?
What does Sam know now that he wishes he had known when he started Levels?

2. How to Fundraise Like a Pro:

Why does Sam believe that founders should take as many meetings with VCs as possible?
What are the biggest mistakes founders make when meeting investors?
Should founders meet with associates in the fundraising process?
What does Sam mean when he says, "you have to create theater" when pitching?

3. How to Extract the Most Value from Your Investors:

What have been Sam's biggest lessons on how to put your investors to work?
What is the right and most strategic way to ask investors for specific help?
How can founders create a competitive environment where VCs are competing to help?
Which investors have been the most helpful?
Why are post-IPO operators the best angels to have as investors?
How has the a16z platform team been such a needle mover?

4. How to Find Your Partner and Master Parenting:

What does Sam mean when he says he had a "one pager" in what he wanted in a partner?
What was in the one-pager? How did dates respond?
What are the biggest mistakes people make when dating?
What is Sam most nervous about on becoming a parent?
How does Sam think having a child will impact his marriage?

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