20VC News: Anchor Founder, Mike Mignano Joins Lightspeed as Partner: The Future of Social Media | Why Clubhouse Has a Challenging Model | Why TikTok Could be a $2TN Company | Why BeReal is Defensible | What Happens To OpenSea in a New World for NFTs
In this discussion, Mike Mignano, a Partner at Lightspeed and co-founder of Anchor, shares his insights on the evolving landscape of social media. He believes we are on the brink of a new social media giant and discusses the shift from the traditional social graph to recommendation media. Clubhouse's rise and fall is analyzed, and Mignano argues that BeReal has a defensible position in today’s market. He also reflects on investment strategies and the challenges faced by platforms in monetizing creative content.
54:31
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
volunteer_activism ADVICE
Improving Venture Capital
Venture capitalists should be more direct and transparent with founders, especially regarding investment decisions.
Increase directness by sharing investment goals and reasons for passing on deals.
insights INSIGHT
Founder Uncertainty
Founders often face uncertainty regarding their standing with investors, creating tension and pressure.
Investors should be more upfront about their intentions and the dynamics of deal-making.
question_answer ANECDOTE
Anchor's Hype Cycle
Mike Mignano recalls the hype surrounding Anchor's launch, initially believing they had "won."
However, he realized the hype was speculation, and sustained success required re-anchoring and hard work.
Get the Snipd Podcast app to discover more snips from this episode
Mike Mignano is a Partner @ Lightspeed, one of the most successful venture firms of the last decade with a portfolio including the likes of Snap, Affirm, Epic Games, Mulesoft and more. As for Mike, prior to venture, he was Head of Talk for Spotify where he led the podcast, live, and video businesses for the world’s leading audio streaming platform. Michael came to Spotify through their acquisition of Anchor, a company he co-founded and is credited for democratizing podcasting globally. Mike has also been a prolific angel investor with a portfolio including Cameo, Pipe, Sandbox VR and Stir.
In Today's Episode with Mike Mignano We Discuss:
1.) Exclusive News:
What exclusive news does Mike have to share today?
What would Mike most like to change about the way founders experience the product of venture capital? How can VCs be better?
What is Mike most nervous about in the new role?
2.) The World of Social is Changing Forever:
Why does Mike believe there has never been a better time for the next social media giant to be born?
Why are the largest social giants leaving behind the social graph?
What is recommendation media? Why is it a better business model?
How does the shift from social graph to recommendation media change the way large social giants operate and interact today?
3.) Startups: Risers, Fallers and Is There Room For Another Giant?
What does Mike believe Clubhouse did well? What was their undoing?
Does Mike believe BeReal is defensible? What features make it both sticky and defensible?
Will TikTok be a $2 trillion dollar company? Will Meta catch TikTok or have they gone too far ahead?
Will OpenSea be able to sustain and make the market for NFTs, despite crypto crashing?
Should startups be concerned about large social giants "copying" their features?
What does true defensibility look like in consumer social today?
4.) Angel Investing: Hits, Misses and Lessons:
From writing over 50 angel checks, what are the single biggest lessons Mike has learned?
What has been his biggest hit? How did that change the way he thinks about investing?
What has been his biggest miss? In what way did that change how he invests?
What advice does Mike give to all angel investors looking to invest today?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch