In this insightful discussion, Doug Leone, a partner at Sequoia Capital, explores the rapid ascent of Tiger Global in the venture capital world. He emphasizes the need for a shift in venture terminology, contemplates the enduring craft of venture alongside rising competitors, and analyzes the impact of hedge funds entering the space. Insights from other VC leaders like Bill Gurley and Michael Eisenberg highlight the challenges of increased competition and the strategic advantages of substantial capital in today's evolving market. This conversation unpacks the future landscape of investment.
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insights INSIGHT
Venture Capital Is Not a Game
Venture capital involves people's lives and careers, so treat it as a serious business.
Avoid using the word "game" when discussing venture capital.
volunteer_activism ADVICE
Long-Term Company Building
Focus on company-building and providing long-term support to startups.
Get involved early, ideally as the first investor, to shape the company's DNA.
insights INSIGHT
Increased Competition in Late-Stage Venture
Late-stage venture capital is becoming increasingly competitive, driven by Tiger Global's aggressive approach.
Other firms are trying to keep up, leading to a potential overvaluation of startups.
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Tiger Global are one of the most discussed venture firms on the planet. With a deal cadence and capital deployment speed that is unmatched, they have made their mark on the venture landscape like no other over the last 24 months. Today we are joined by leaders from Sequoia, Benchmark, Thrive Capital, General Atlantic, GGV and Aleph to discuss the rise of Tiger and how it impacts the venture ecosystem.
In Today’s Episode on Tiger Global You Will Learn:
1.) Doug Leone: Sequoia Capital
Why we need to change the words when use in venture? Why we need to get rid of "the game"?
How does the rise of Tiger compare to the rise of prior entrants with the same approach?
Why does Doug believe that the craft of venture will persist despite these new entrants?
2.) Bill Gurley: Benchmark Capital
How does Bill analyse the change in late stage venture today?
What are the main drivers of the increased competition in late stage venture?
Why does Bill get concerned not by Tiger but how others respond to Tiger's model?
How does Bill analyse the entry of hedge funds and PE funds into traditional venture models?
3.) Michael Eisenberg: Aleph
How does Michael think about the "weaponisation of capital"?
What are the significant benefits for a fund of having more capital than their competitors?
How does this capital advantage change in boom and bust times?
4.) Anton Levy: General Atlantic
Why does Anton believe that funds are leveraging their assets more efficiently than ever?
How does Anton approach the mindset of AUM scaling without lowering returns?
Why does Anton never want to compete on price?
How does GA think about competing in a world of Tiger and hedge funds investing in tech?
5.) Hans Tung: GGV
Why did Hans always believe the model to look at moving forward was Tiger?
Why does Tiger's business model allow them structural and financial advantages over their competitors?
What does Hans make of the data network effects of Tiger with their strategy?
6.) Kareem Zaki: Thrive Capital
Why does Kareem think Tiger's approach makes absolute sense?
Why does Kareem believe so many in venture like to try and discredit the Tiger model?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 