"Turpentine VC" | Venture Capital and Investing

Howard Morgan, co-founder of First Round, Idea Lab, and B Capital, discusses the importance of global investing, including challenges and opportunities. They explore frontier areas like genomics, bioinformatics, longevity, and space technology. Morgan reflects on lessons learned throughout his career and offers advice for emerging managers.

Logan Bartlett of Redpoint discusses their approach to venture, trends in the VC ecosystem, and strategies of influential figures. They reflect on failure and pursuing entrepreneurship, the transition and evolution of Red Point, and the state of venture capital and future implications.

Thrive Capital discusses their investment strategy in late-stage companies like Stripe and Slack, their approach to fund size and timing, and the benefits of a concentrated portfolio. They also talk about bridging the gap between New York and San Francisco for investment opportunities, supporting founders by being great thought partners, and prioritizing breakout companies. Lastly, they discuss their focus on delivering value to founders through talent recruitment and how they consider macro factors in their investment strategies.

Benchmark GPs Sarah Tavel and Eric Vishria discuss central ideas of Benchmark's firm-building beliefs, including platform teams' role in aiding general partners. They explore venture capital challenges, the impact of capital on investment strategy, and the importance of playing your own game in a competitive market.

Alfred Lin, Partner at Sequoia Capital for over 13 years, talks about Sequoia's strategy and operations. They discuss why they don't track A-U-M, the launch of the Sequoia Capital Fund, and the decision-making behind creating Sequoia Arc. They also explore the importance of firm building, the business models of Y Combinator and Sequoia Capital, and the future of venture capital. Additionally, they touch on dedication, teamwork, learning in founder and investor success, incubation in venture firms, and decision-making under uncertainty.

Ann Miura-Ko, co-founding partner at Floodgate, discusses the core fundamentals of VC partners, identifying inflection points, Floodgate's muscles in the -1 to 0 space, true opportunities in AI, improving sourcing and due diligence, and more.

Trae Stephens, General Partner at Founders Fund, discusses the importance of independent thinking and debate culture at the firm. They emphasize their unique approach to deal-making driven by individual conviction. They also talk about the governance structure at Founders Fund and their focus on making highly concentrated bets. Additionally, they discuss the challenges and opportunities of investing in government tech and their approach to hiring new talent.

Sam Lessin and Seth Rosenberg debate the effects of AI on incumbents and the next wave of AI-first products. They discuss AI-first networks and marketplaces, the advantages of incumbent software companies, and the potential outcomes of investing in AI startups. The speakers also emphasize the importance of defensibility and network building, discuss the role of AI in startups and business, and conclude with closing remarks and an ad for Turpentine VC.

Roger Ehrenberg, a venture capitalist with a contrarian view, talks about his strategy of seed investing and generating 10x fund returns. He discusses focusing on misunderstood high-potential companies, the impact of macro factors on the venture capital landscape, involvement in crypto and sports, and opportunities in the sports industry for investors.

Mike Maples, Jr, co-founder of seed firm Floodgate, discusses the importance of forcing choices, evaluating founders before they start a company, and navigating the challenges of venture capital. They explore patterns of successful startups, referencing strategies, YC's unique economics, and the qualities of successful investors. They also discuss the challenges of playing fair in the market and the opportunities for startups.