#95 Automate Your Job Then Keep Climbing with Malindi Colyer
Sep 1, 2023
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Malindi Colyer, Python developer and AI engineer, discusses automating tasks in investment banking, her experiences working in finance including venture capital, and her transition to founding a company. They also explore the practical applications of using chat GPT, automating document search and summarization, and optimizing bond trading and settlement. The podcast covers the challenges and mistakes in investment banking, the stages of funding for startups, and the importance of AI infrastructure and building projects.
The speaker transitioned from a non-STEM background to pursuing master's degrees in math and computer science, driven by a passion for making a positive impact.
The speaker discusses their experience as a trader in finance, optimizing portfolios using Python algorithms and prioritizing accurate pricing and negotiation.
The speaker reflects on their decision to transition from a successful finance career to venture capital, driven by a passion for innovation and building new products.
The speaker highlights the process of investing in startups in venture capital, including inbound and outbound investments, global perspective, and fostering partnerships with entrepreneurs.
For aspiring founders, networking and attending tech events can be valuable at the pre-seed stage, with venture capitalists offering not only investment but also mentorship and industry connections.
Deep dives
Transition to Quantitative Studies
After completing her undergraduate degree in foreign service and gaining experience in diplomacy and NGO work, the speaker realized her passion for mathematics and computer science. She decided to pursue further studies in these fields and enrolled in two master's programs in the UK. Despite facing initial challenges due to having a non-STEM background, she demonstrated her skills in coding and mathematics, leading to successful admission into these programs.
Rediscovering the Love for Math
During her undergraduate studies, the speaker discovered her deep interest in math through classes like organic chemistry, where she excelled in applying patterns and principles to generate new molecules. This realization made her appreciate the simplicity and dependability of math, leading her to lean more towards quantitative subjects and develop a desire to become an expert in a specific area.
Challenges and Engagement in NGO Work
While working for an NGO after her undergraduate studies, the speaker faced challenges due to the bureaucratic nature of the organization. This experience resulted in some disillusionment and a desire for more intellectual curiosity and skills-driven work. She realized that her passion for making a positive impact on the world could be better utilized in a field that aligned with her skills and love for math and computer science.
Journey to Further Studies and Pursuit of Mastery
To pursue her interest in math and computer science, the speaker decided to pursue master's degrees in these fields. She underwent rigorous interviews and examinations to demonstrate her skills and was ultimately admitted to these programs. The speaker's goal is to become an expert in a specific area, leveraging her mathematical thinking, creativity, and problem-solving skills to contribute to the field and leave a positive legacy.
Building Algorithms for Portfolio Trading in Finance
In this podcast episode, the speaker discusses their experience working as a trader in finance, particularly in portfolio trading. They explain the process of optimizing portfolios based on customer preferences and constraints using Python algorithms. They highlight the importance of accurate pricing and negotiation with traders to find the best deals for customers. The speaker also reflects on the long hours and high-pressure nature of the trading floor, as well as the potential risks and rewards involved in the industry. They discuss their decision to transition into venture capital, seeking a more innovative and entrepreneurial path, and how they navigate the VC landscape and meet with founders through a combination of in-person and remote meetings.
Transitioning from Finance to Venture Capital
In this podcast episode, the speaker shares their journey of transitioning from a successful career in finance, specifically in trading, to venture capital (VC). They discuss how they discovered their passion for innovation and building new products, leading them to explore opportunities outside of traditional finance. They explain the challenges of shifting into the unfamiliar world of venture capital and the limited knowledge they initially had about the startup ecosystem. The speaker reflects on the support they received from their previous employer, JP Morgan, and how it helped them secure a role in a VC firm. They also mention their enthusiasm for working remotely, which was already a part of the VC firm's culture prior to the pandemic.
Investing in Startups and the VC Landscape
In this podcast episode, the speaker talks about their role in venture capital and the process of investing in startups. They discuss the distinction between inbound and outbound investments, where inbound refers to startups reaching out to the VC firm, and outbound refers to efforts by the firm to identify potential investment opportunities. They mention the use of Zoom and in-person meetings to connect with founders and evaluate investment potential. The speaker highlights the global nature of their investments, with a focus on big cities such as New York, San Francisco, and London. They also emphasize the VC's interest in innovation and building partnerships with entrepreneurs to foster growth and success.
Networking and Pre-Seed Funding
For aspiring founders looking to raise funds to start their company, networking and attending tech events can be valuable. It allows individuals to connect with other founders, engineers, and potential investors. At the pre-seed stage, funding is often based largely on the founder's potential and vision, rather than the product itself. Bootstrapping and using personal resources can be an option to test and develop the initial idea, with the goal to reach a point where hiring is necessary.
The Role of VCs and Fundraising Stages
Venture capitalists can offer not only investment but also mentorship, coaching, and industry connections. The fundraising process varies at different stages such as pre-seed, seed, and series A. Pre-seed funding is usually focused on providing resources to start building, while seed funding supports the creation of a minimum viable product (MVP) and working with initial customers. Series A funding often comes after finding product-market fit and can require evidence of annualized revenue. Each fundraising stage often involves a certain amount of dilution, with the rule of thumb being around 20% per round, though individual circumstances may vary.
Today I'm joined by Malindi Colyer. Among her many skills, she's a Python developer and AI engineer.
Malindi grew up on a farm in rural Kansas, in the middle of the US. She trained to become a diplomat, and volunteered overseas. But along the way, she discovered a love of math and computer science. That passion has landed her jobs in New York City, London, and San Francisco.
I met up with Malindi in downtown Manhattan to learn all about investment banking, and how she modernized her department at JP Morgan using her software engineering skills. We talk about the high-stakes world of global finance, where she was executing trades sometimes worth hundreds of millions of dollars.
We also talk about her time as a venture capitalist. She researched thousands of startups to decide which ones her fund should invest in.
This is one of the most technical interviews I've done. I've done my best to make Malindi's world of math, AI, and high finance as accessible as I can. I hope you enjoy it.
Malindi on LinkedIn: https://www.linkedin.com/in/alexandra-malindi-colyer-46b95589/
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