How I Invest with David Weisburd

In this podcast, Tracy Fong, partner at Albourne Partners, discusses how emerging VC managers can attract institutional investors. They explore navigating market cycles, startup experiences, adaptive strategies, capital allocation, and the investment strategies of Yale and Harvard in venture capital. Tracy also emphasizes the importance of connecting with Albourne Partners and offers a special reward for introductions to family offices and foundations.

Elizabeth "Beezer" Clarkson, Partner at Sapphire Partners, discusses how their new partnership with CalSTRS will allow them to expand their ability to support the next generation of VC managers – all while continuing to focus on investing in the established. We’re proudly sponsored by Tactyc, visit tactyc.io if you’re ready to level up your venture fund. (0:00) Episode Preview (0:57) The Importance of LP Voices and Sapphire’s Partnership with CalSTRS (2:15) Why Investing in Emerging Managers Have Such a Unique Dynamic (4:09) The Role Emerging Managers Play in the Construction of a Compelling Portfolio (6:16) Thousands of Emerging Managers vs Forty Established Funds (7:30) Does Excess Capacity Translate to Adverse Selection? (8:17) “LPs are like Snowflakes and They’re all Different.” (10:49) Common Reasons Why LPs Don’t Re-up (13:48) What Makes for a Great Manager? (16:27) Episode Sponsor: Tactyc (17:34) What Sapphire Looks for When Evaluating a New Manager (19:00) Who Wins: Generalist v. Specialist (21:57) Will Solo GPs be able to Survive in this Market? (24:38) Beezer’s Predictions on Spinouts (26:34) The Bias and Rationale Behind Institutional LPs Desire to Re-up in Existing Managers (28:14) The New CalSTRS Program’s Investment Rubric on Checksize, Fund Size, Return Profile and Audit Requirements (30:37) How LPs Can Bring Value to a Fund (34:31) Why LPs are All Examining Their Portfolios (36:42) Should GPs Focus on DPI or TVPI? (39:01) Why Venture Needs More Innovation (40:19) How LPs Diligence Managers (44:15) The Importance of Transparency within the LP Ecosystem (51:57) What Sapphire Invests In (53:26) Lessons Learned from Previous Downturns

Scott Painter, CEO of Autonomy sits down with David Weisburd to discuss how he creates value as a serial entrepreneur and why Elon Musk has been able to be successful through all his ventures. We’re proudly sponsored by Tactyc, visit tactyc.io if you’re ready to level up your venture fund. (0:00) Episode Preview (1:12) Scott’s Background and Focus on the Automotive Industry (3:15) The Highs and Lows of Being an Entrepreneur (5:01) Invest in Yourself if you Believe in Yourself (7:00) Scott’s Definition of Success (7:42) What being a “Visionary” in the Automotive Industry Means (8:59) Owning a Car Shouldn’t Equate to Soul Crushing Debt (10:26) Accessibility is a Way to Unlock Affordability (11:49) What Autonomy is at its Core (12:28) Episode Sponsor: Tactyc (14:39) Autonomy’s Business Model (17:35) Scott’s Friendship with Elon Musk (21:47) How Autonomy Benefits from EV Tax Credits (26:17) The Secret to Elon Musk’s Success (28:39) Empowering Employees by Decoupling Risk and Reward (30:21) The Future of SpaceX? (38:53) The Flywheel of Wealth Creation (39:49) Autonomy’s $100B Mission (44:25) Is An Autonomy IPO on the Horizon? (47:23) How to Contact Scott

Jason Calacanis, founder of LAUNCH and host of the All-In Podcast and This Week in startups, discusses his new fundraise, Sequoia's investments in Twitter and Zynga, his angel investing experience including investments in Uber and Calm, and the importance of PowerLaws in investment success. The episode also covers Tactic.io's benefits for venture capital funds and the process of fundraising and selection in venture capital.

Shai Goldman, an investor, writer, and Brex ambassador, discusses the future of VC, the power of startups, and how Brex generated $100M using a growth hack. They explore the evolution of VC during downturns, turnover in venture funds, the importance of discipline in venture capital, and achieving 3X DPI. The chapter ends with gratitude and a promotion for Turpentine, a network of tech podcasts.

Jamie Rhode, Principal at Verdis Investment Management, discusses data-driven investing, compounding returns, his investing philosophy, and more. Topics include the advantages of a long-term time horizon, the power law in venture investments, the importance of diversification, and the value of collaboration and diversity in the investment industry.

David Weisburd interviews Neil Datta, Managing Director of Optima Asset Management. They discuss the Forbes Family Trust's approach to VC and the potential for alpha in due diligence. They also explore how to signal strength in fundraising and whether LPs should be fee sensitive.

Michael Kim, founder of Cendana Capital, discusses his thesis on creating a fund of funds at seed stage, insights into the changing landscape of VC, and whether VC should recycle capital. They explore the success of small VC funds, the challenges of scaling funds, and the economic trade-offs for different fund sizes.

David Weisburd sits down with David Clark, Investment Director at VenCap International PLC to discuss his viral post about power laws in venture capital, manager predictability, adverse selection in VC, and what percent of startups go to zero. If you’re ready to level-up your startup or fund with AngelList, visit www.angellist.com/tlp to get started. (0:00) Episode Preview (2:40) David Clark's data set of over 250 early-stage funds (4:40) Power laws and fund returns (9:20) Survivorship data and challenges in emerging managers data (12:30) Succession in VC (14:36) Sponsor: AngelList (18:43) How do you back the top 1% of companies (21:30) Ownership percentages and returns (29:00) Follow on that a fund should reserve at every stage (36:30) Ten year predictions for VCs and LPs

Apurva Mehta, Managing Partner of Summit Peak Investment, discusses the power laws in portfolios, alpha in early stage investing, differentiating a great LP, and asset classes in the investor base. They explore the challenges faced by founders, the role of venture capitalists, and the value of working with family offices as partners in the VC ecosystem.