Mamoon Hamid, General Partner at Kleiner Perkins and a renowned venture capitalist, shares his insights from leading investments in successful startups like Figma and Slack. He discusses the defining elements of a great investment, revealing what drove his decisions on these companies despite early challenges. Hamid explores the shifting landscape of AI, emphasizing the importance of application-layer companies and strategic growth. He reflects on lessons learned from past failures and the future of venture capital amidst a competitive market.

Guest: Aaron Levie, CEO of Box, and Mamoon Hamid, partner at Kleiner PerkinsWhen he was a newly minted venture capitalist at USVP, Mamoon Hamid got a tip that he should meet a young entrepreneur named Aaron Levie, and fought for the right to invest in his cloud storage startup, Box. For years after that initial investment, the two men say, Box’s fate was precarious: “We could have died any day,” Mamoon says, and Aaron recalled several times he had to be talked “down from a ledge.” Today, they tell us how Box established itself as “open for business” — a concept Mamoon hounded Aaron with in the early years — and grew into success.In this episode, Aaron, Mamoon, and Joubin discuss Box socks, authenticity at work, Josh Stein, living in the office, over-diligence, Google Platypus, the 2008 crash, nostalgia, everything is personal, the ten-person test, burnout, Dan Levin, ChatGPT, Parker Conrad, and Silicon Valley as “technology town.” In this episode, we cover:“Make mom proud, unless she’s evil” (01:59)How Mamoon and Aaron met (04:38)Mamoon’s first investment in Box (11:15) Pausing the term sheet (16:08)“We could have died any day” (19:01)What is company-building? (23:23)Open For Business (25:27)Getting to cash flow positive (27:52) Slow growth with no burn vs. fast growth, high burn (31:15)Tough feedback (34:31)Overcoming challenges around the Box IPO (36:31) Growing as CEO (38:35) The Apple Vision Pro and AI (44:15)Investing in cutting-edge companies (49:15)Using AI to re-juice growth (51:48)How Aaron educates himself (54:22)Business as a sport (57:14)Who Box is hiring and what “grit” means to Aaron (01:00:44)Links:Connect with AaronTwitterLinkedInConnect with MamoonTwitterLinkedInConnect with JoubinTwitterLinkedInEmail: grit@kleinerperkins.com Learn more about Kleiner PerkinsThis episode was edited by Eric Johnson from LightningPod.fm

Mamoon Hamid, Partner at Kleiner Perkins, discusses the transformation of Kleiner Perkins into a boutique venture capital fund focused on early-stage investing. They emphasize the significance of culture and focus. Topics include tracking OKRs, sourcing deals, the evolving landscape of venture capital, and staying focused on strengths.

Mamoon Hamid, Managing General Partner at Kleiner Perkins, and Thomas Scriven, Managing Director at Penn’s Endowment, join Jason Calacanis, startup expert. They dive into India's booming startup ecosystem and the rising interest from sovereign wealth funds. The trio discusses the alarming mortality rates of startups and the importance of navigating investment strategies effectively. They also touch on the evolving IPO landscape and the significance of secondary markets, showcasing the intricate dynamics of venture capital in today's market.

Parker Conrad, CEO of Rippling and Mamoon Hamid, partner at Kleiner Perkins discuss their experiences with startups, the challenges they faced, and the importance of executives being involved in problem-solving. They also delve into the concept of compound startups, deep integrations, and the inefficiency of buying separate software components. The podcast offers insights on fundraising dynamics, starting companies for the right reasons, and the unique series A of Rippling.