The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

In this discussion, Joe Lonsdale, a General Partner at 8VC and co-founder of Palantir, shares insights from his impressive career in tech and venture capital. He believes the best VCs are builders who leverage historical knowledge for better investment decisions. Lonsdale emphasizes the importance of contrarian thinking in venture partnerships and addresses the challenges posed by woke culture. He also advises founders on managing cash burn strategically in today's market, warning against sacrificing growth for immediate gains.

Julia DeWahl, a rising star in the Silicon Valley angel investing scene and former Opendoor executive, shares her insights on startup growth. She discusses crucial takeaways from her Opendoor experience that inform her investment strategies. Julia emphasizes the importance of customer discovery and how to select and structure this process for maximum insights. She also elaborates on implementing growth systems, balancing metrics, and navigating the fine line between growth and profitability. Plus, her journey into angel investing is both inspiring and instructive!

Oren Zeev, Founding Partner at Zeev Ventures, is known for his successful track record in early-stage investments. He discusses why he believes diversification is overrated and critiques thematic investing for its pitfalls. Oren shares insights on decision-making without partners, emphasizing intuition over rigid frameworks. He also highlights his preference for under-appreciated markets and the importance of character in assessing investment teams. His unique, concentrated strategy challenges conventional VC wisdom and showcases a fascinating perspective on the industry.

Lo Toney, Founding Managing Partner at Plexo Capital, shares his unique journey in venture capital, emphasizing the importance of operational experience. He discusses the shifted landscape of fundraising during COVID-19, offering insights into effective communication with LPs. Toney introduces the concept of 'minimum viable fund size' and advises GPs on closing strategies. He also highlights the value of anchor LPs investing in GPs and explores promising investments, including the e-sports company PlayVS, which is transforming opportunities for high school students.

Andrew Wilkinson, Managing Partner at Tiny Capital, shares his journey from a design agency founder to a key player in acquiring internet companies. He discusses a unique investment philosophy likened to New Zealand, focusing on resilient industries rather than high-risk ventures. The conversation dives into leadership growth, effective delegation, and the balance between growth and profitability. Andrew also reflects on managing company defensibility and the significance of immediate goals in creating sustainable value. His insights on money's relationship with freedom offer a refreshing perspective.

David Sacks, Co-founder of Craft Ventures and a key player in tech history with influential roles at PayPal and Yammer, shares his insights on founder psychology and capital efficiency. He discusses navigating venture capital during economic downturns, emphasizing the importance of unit economics. Sacks explains mastering customer acquisition costs and highlights the significance of metrics like net negative churn for sustainable growth. He also delves into the delicate balance between visionary leadership and constructive board feedback in fostering a startup's success.

Chris Best, the Founder and CEO of Substack, shares his journey from co-founding Kik to revolutionizing journalism with his platform for writers. He discusses how traditional media's struggles during COVID led to Substack's rise and the challenges of public journalism. Chris argues against micropayments for content, emphasizing discovery over monetization. He also highlights how the economics of attention have shifted, contrasting Substack's incentive design with that of Twitter, while reflecting on his growth as a leader in the dynamic startup world.

Merci Victoria Grace, a Partner at Lightspeed Venture Partners and former Head of Growth at Slack, shares her insights on the venture capital landscape. She discusses the importance of productizing venture processes and the internal tech stack at Lightspeed. The conversation dives into the future of collaboration tools, debating bundling versus unbundling and the value of synchronous versus asynchronous communication. Merci also emphasizes the need for diversity in VC and the role of mentorship in her journey, illustrating her unique blend of humor and personal storytelling.

Daniel Erickson, Founder and CEO of Viable Fit, shares his journey from Portland consultancy to startup success. He emphasizes the critical importance of product-market fit (PMF) as the key metric for startups and explains how to measure it using structured user feedback. Daniel discusses effective customer segmentation and the importance of differentiating valuable feedback from noise. He also critiques investors who focus heavily on unit economics at early stages and unveils strategies to ensure ongoing relevance through user insights.

In this engaging discussion, guests Justin Kan, founder of Twitch, Matteo Franceschetti, CEO of Eight Sleep, and Steve Schlafman, coach and investor, share their personal journeys with alcohol. They reflect on their realizations about the need to stop drinking, the emotional struggles it masked, and the powerful transformations they experienced post-alcohol. The conversation emphasizes the importance of community in recovery, the tools that helped them, and offers insight into how sobriety has positively impacted their lives, both personally and professionally.