How I Invest with David Weisburd

Discover how compounding extends beyond finances to enhance every facet of investing. Top investors leverage relationships and reputations, leading to swift decision-making. Learn how Warren Buffett's ethical standing creates a negotiating edge. Uncover the significance of proprietary information and how it fuels future successes. Explore the value of attracting 'A-players' and how investing in top talent bolsters organizational excellence. It's a fascinating look at building advantages in a competitive landscape!

In this episode of How I Invest, I interview Scott van den Berg, an expert in celebrity-founded brands and the managing partner of Hotstar VC. Scott shares deep insights into how celebrities are leveraging their platforms to build billion-dollar businesses and why some partnerships thrive while others fail. We discuss the shift in celebrity investments, the rise of creator-led brands, and key lessons from success stories like Ryan Reynolds' Mint Mobile, Kim Kardashian's Skims, and George Clooney's Casamigos. Highlights: Lessons from Ryan Reynolds: How he strategically invested in "unsexy" industries and built massive brand value. The Power of Celebrity-Led Brands: How stars like Kim Kardashian, Logan Paul, and Ryan Reynolds built billion-dollar companies. Equity vs. Cash Deals: Why traditional talent managers prefer cash over equity and how this impacts startup partnerships. Product-First Approach: The importance of having a strong product, even when backed by a celebrity. Celebrity Product-Market Fit: Why aligning a celebrity's brand with the right product is crucial for success. The Over saturation of Celebrity Tequila Brands: Why so many celebrities enter the liquor market and the real economics behind it. The Rise of the Creator Economy: How influencers are turning their massive audiences into thriving businesses. Avoiding Common Pitfalls: The biggest mistakes startups make when partnering with celebrities. -- Guest Bio: Scott van den Berg is the managing partner at Hotstar VC, a fund specializing in investments in celebrity and creator-led brands. With experience in 55 celebrity-founded businesses, Scott has worked with stars like Selena Gomez, DJ Khaled, and Jake Paul. His team includes co-founders of some of the most successful celebrity-led brands, such as The Honest Company and Feastables. As a thought leader in the space, Scott shares insights on how celebrities can build sustainable businesses and transform their influence into long-term value. Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at dweisburd@gmail.com. We’d like to thank @Carta and @Daloopa for sponsoring this episode! #VentureCapital #VC #Startups #OpenLP #AssetManagement -- Sponsor: At Carta, we’re on a mission to connect the participants in private capital — from investors and LPs to their portfolio companies — through a suite of financial intelligence and reporting software that’s purpose-built for venture capital and private equity. Since 2018, we’ve been empowering GPs, CFOs, and CEOs to escape obsolete systems of disconnected FP&A tools — all in favor of a single, unified software suite that helps them make impactful strategic decisions and deliver outstanding results for their investors. Learn more at: www.carta.com/howiinvest. Sponsor: Daloopa uses AI to provide the best fundamental data service for equity analysts globally. Daloopa empowers users to automatically update existing models and expedite new model builds so that users can spend more time on insights and ideas. Accurate data is central to all investment decisions and can influence speed and confidence for decision-makers. Daloopa believes that AI technology can improve clarity and efficiency for investors and financial markets. Learn more at: www.daloopa.com/how. -- Stay Connected: X / Twitter: David Weisburd: @dweisburd LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Scott Van den Berg: https://www.linkedin.com/in/scott-van-den-berg-22b534150/ -- Links: HotStar VC: https://www.hotstart.vc/ Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com. (0:00) Episode preview (5:01) Sponsor: Tactic Bicarda (6:20) Selecting and partnering with the right celebrity for a brand (9:09) Sponsor: The Loop (10:13) Navigating challenges with celebrity managers and agencies (13:10) Hotstar VC's methodology in celebrity-founded brand investments (16:43) Case studies of celebrity brand successes (18:31) Key takeaways from investing in celebrity-driven ventures (19:22) Closing remarks and upcoming episode teaser (20:15) Sponsor: Vanguard (23:45) Closing remarks

In this episode of How I Invest, I have a conversation with Scott Chan, Chief Investment Officer of CalSTRS, to explore how he oversees a staggering $350 billion in assets. Scott shares insights on CalSTRS’ collaborative investment model, their approach to private and public markets, and why they aim to be the "global partner of choice." We also discuss the importance of structural alpha, liquidity management, and identifying long-term supply-demand imbalances. Highlights: The Collaborative Model: How CalSTRS brings more assets in-house to lower costs and increase control over risk and alpha. Public vs. Private Markets: Why 80–85% of public market assets are managed internally while private investments rely on partnerships. Becoming the Global Partner of Choice: Why being a top three call for GPs is crucial for accessing the best private market transactions. Portfolio Allocation Strategy: How CalSTRS is shifting risk exposure toward private markets to enhance returns. Contrarian Investing: Scott’s view on why the stock market may underperform over the next decade and where he sees better opportunities. The Importance of Liquidity: Why liquidity will be "more valuable than gold" and how CalSTRS prepares for market downturns. Identifying Supply-Demand Imbalances: Where CalSTRS sees long-term opportunities, from real estate to private credit and infrastructure. Structural Alpha: How CalSTRS structures deals to generate uncorrelated alpha without taking additional market risk. Governance and Decision-Making: How a nimble, delegated investment approach allows CalSTRS to act quickly on opportunities. The Role of Team & Culture: Scott emphasizes why a strong leadership team is the ultimate competitive advantage. -- Guest Bio: Scott Chan is the Chief Investment Officer of CalSTRS, overseeing $350 billion in assets for over one million California teachers. With decades of experience in institutional investing, Scott has led CalSTRS in developing its collaborative investment model, focusing on cost efficiency, structural alpha, and strategic partnerships. His contrarian mindset and deep expertise help position CalSTRS as a global leader in asset management. Our Podcast now receives more than 200,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at dweisburd@gmail.com. We’d like to thank @JuniperSquare for sponsoring this episode! #VentureCapital #VC #Startups #OpenLP #AssetManagement -- Sponsor: Juniper Square is dedicated to transforming the private markets investing experience. The company provides a full range of modern, connected fund technologies and services for over 2,100 private markets GPs across fundraising, reporting, fund administration, treasury, compliance, and business intelligence. Today, over $1 trillion of assets and 600,000+ LP accounts are managed through Juniper Square software and fund administration services. Learn more at www.junipersquare.com. -- Stay Connected: X / Twitter: David Weisburd: @dweisburd LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Scott Chan: https://www.linkedin.com/in/chanscott/ Links: CalSTRS: https://www.calstrs.com/ Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com. (0:00) Episode preview (1:09) Introduction to CalSTRS and collaborative investing (2:11) Public vs private markets and global partnerships at CalSTRS (5:26) Public and private market investment strategies (7:03) Collaborating with private managers and selecting GPs (11:41) Contrarian thinking and current investment focus (17:13) Liquidity management and market opportunities (18:19) Sponsor: Juniper Square (19:43) Liquidity options and alternative asset opportunities (21:31) Market crisis preparation and governance structure (26:30) Exploring structural alpha and capital base implications (31:20) Leveraging supply-demand imbalances in investing (35:58) Personal alignment and development as a CIO (40:29) Closing remarks

In a riveting discussion, Balaji Srinivasan, former CTO of Coinbase and a leading thinker on crypto governance, dives into the emergence of 'network states' as modern nations. He argues that the internet is set to overshadow traditional superpowers. Balaji also explores Bitcoin's impressive growth against fiat currencies and its potential as a new monetary system. Additionally, he addresses how decentralized governance is evolving through DAOs, offering a glimpse into a future where online communities redefine democracy and societal structures.

In this engaging discussion, Erik Hirsch, Co-CEO of Hamilton Lane and seasoned expert in private market investing, shares his insights on the transformative power of tokenization in making private investments accessible for retail investors. He highlights the urgent need for education to overcome myths that hinder adoption and explains the future landscape where retail and institutional investors can effortlessly manage assets. Hirsch also emphasizes the critical role of wealth advisors in navigating these changes and the expectations that differ between investor types.

In this insightful discussion, Jackson Craig, Managing Director at H.I.G. Bayside, shares his extensive experience in private equity and distressed debt. He details the company's remarkable growth from $75 million to managing $67 billion in assets. Jackson dives into the intricacies of distressed debt investing, emphasizing risk management through first-lien debt and the art of sourcing deals. He highlights the importance of building relationships within the industry and navigating complex financial landscapes for successful, resilient portfolios.

Jeremy Heer, Managing Director at the University of Illinois Foundation, shares his expertise on the vital role of networking in investment success. He discusses the significance of super connectors, strategic relationship-building, and how intentional attendance at conferences can unlock new opportunities. Jeremy also dives into his investment thoughts on the future of nuclear energy and the advantages of being a generalist investor. With insights from his time at the University of Chicago, he emphasizes the long-term benefits of relationship-based investing.

John Skjervem, Chief Investment Officer at Utah Retirement Systems, oversees over $50 billion in assets and is known for his innovative governance strategies. He discusses how URS’s closed-door meetings enhance decision-making and return outcomes. Transparency can hinder investment performance, he argues, detailing URS’s unique approach. Skjervem also delves into the fund's heavy allocation to private equity and venture capital, and the strategic importance of direct investments in energy as a hedge against inflation, highlighting lessons learned from the 2008 crisis.

Join Constantine Karides, Lead Partner at Reed Smith, as he sheds light on the legal landscape of startups and venture capital. He emphasizes the importance of choosing a lawyer who acts as a strategic partner, offering not just legal advice but also valuable industry connections. Learn about the impact of a lawyer’s internal influence within their firm on client outcomes. Constantine discusses the transformative role of AI in legal practices and shares lessons from his own experiences in navigating legal investment strategies.

Mel Williams, Co-Founder and General Partner at TrueBridge Capital Partners, shares insights from his extensive experience in venture capital. He explains TrueBridge's influential role with Forbes on the Midas List and the significance of disciplined fund manager ranking. The conversation dives into their unique fund-of-funds strategies, including core, seed, and blockchain investments. Mel also touches on best practices for scaling venture funds and how strong GP relationships provide a competitive edge, especially in navigating the volatility of blockchain markets.