Episode #13: Rob Go, Zain Rizavi, New York Times

This is the last episode of 2024 for The Learning Corner, and it's packed with great insights from across the ecosystem. The discussion first shifts to the dynamics of founders choosing firms and people, offering recommendations for repeat founders and insights into risk assessment. The episode delves into investment strategies, emphasizing timing and due diligence, and compares public and private market investing. An exploration of the history and evolution of venture capital is provided, alongside an analysis of founder preferences and decision-making. The dialogue highlights significant learning moments and predictions for the venture ecosystem, wrapping up with closing remarks and expressions of gratitude.

Episode #12: Peter Walker, Benedikt Langer, Aaron Levie

In this episode of The Learning Corner, the conversation begins with an introduction to the series, leading into a discussion on graduation rates from seed to series A. The analysis delves into factors influencing these rates and emphasizes the importance of patience in investment. The focus then shifts to the balance between profitability and growth in startups, followed by insights on building reputation and personal brand within the venture ecosystem. The episode explores marketing strategies in venture capital and discusses Aaron Levie's post about AI agent pricing. A look into the future landscape of B2B SaaS is provided before wrapping up with closing remarks and expressions of gratitude.

Episode #11: Chris Neumann, Forbes, The Economist

In this episode of The Learning Corner, the conversation opens with insights into current market turbulence, setting the stage for a discussion on navigating silence in Silicon Valley. The episode then explores limited partners' perspectives on the future of venture capital in 2025 and examines the evolving dynamics of early-stage ventures. The narrative shifts to Sequoia Capital's business model evolution, highlighting adaptive strategies in a changing market. The discussion continues with a focus on enhancing founder relationships and providing robust venture support, emphasizing innovation within the venture capital sector. The episode concludes with closing thoughts and appreciation for the audience.

Episode #10: Euclid Insights, Benedict Evans

In this episode of The Learning Corner, the journey begins with an introduction to the series and a lively discussion about ChatGPT. The conversation then delves into the concept of Service as a Software, weighing its pros, cons, and cost implications. The exploration continues with a look at AI and SaaS models within the Precursor portfolio, emphasizing the balance between services and scalability in product development. A brief sponsor message from Euclid Insights is shared. The dialogue compares AI to historical technological advancements, enriched by personal anecdotes on its practical use. The episode concludes with closing remarks and a heartfelt thank you to listeners.

Episode #9: Jamin Ball, Hunter Walk, Menlo Ventures

In this episode of The Learning Corner, the discussion kicks off with an introduction to the series, setting the stage for a deep dive into venture capital incentives and their impact on valuations. The conversation then explores the influence of large funds on market valuations and examines hiring strategies, debating the merits of missionaries versus mercenaries. Strategies for sustainable growth and the realignment of incentives are analyzed, followed by valuable seed investing insights from Hunter Walk. The episode also addresses the rise of generative AI in enterprise applications, before concluding with a sign-off.

Episode #8: Bowery Farms, Sapphire Partners, Patricia Halfen Wexler

In this episode of The Learning Corner, the focus begins with the crucial task of managing raised funds, setting the stage for a discussion on the collapse of Bowery Farming and the pivotal investment decisions involved. The narrative unfolds to explore unexpected risks and factors contributing to startup failures, emphasizing the importance of managing business dependencies and evaluating market size. The strategy and impact of venture reserves on investments are examined, followed by insights into the dynamics of follow-on investments. The episode also delves into the future and industrialization of the venture ecosystem, contrasting opportunities and strategies for small versus large funds, and concludes with an analysis of risk-return profiles.

Episode #7: Ubiquity Ventures, WSJ, Equal Ventures

In this episode of The Learning Corner, we begin with an exploration of the pivotal role seed investors play in the venture ecosystem. The discussion then shifts to the unique traits and challenges faced by solo General Partners. The potential valuation surge of AI startup Perplexity is analyzed, alongside broader monetization strategies within the AI space. Insights from an emerging venture manager provide a fresh perspective on current trends. The conversation also covers the importance of sustaining collective success in seed investing and offers guidance on navigating career transitions within venture management.

Episode #6: Pitchbook NVCA Venture Monitor Q3 2024 Report

This episode of The Learning Corner delves into the key insights from the Q3 2024 PitchBook NVCA Venture Monitor, analyzing its implications for the venture ecosystem. The discussion highlights how the current fundraising market is reshaping founder strategies and explores the consequences of limited distributions on venture capital dynamics. Performance metrics in venture funds are examined, alongside considerations for LPs. The challenges faced by emerging funds and their pursuit of non-consensus investments are also addressed. The episode wraps up with closing remarks and a call to action for listeners.

Episode #5: Euclid Insights, Strictly VC

This episode of The Learning Corner delves into the nuanced debate of ownership versus selection in venture capital, setting the stage for a deeper exploration of Precursor's approach to seed stage investing amidst the current reckoning. The conversation shifts to LP discussions surrounding crypto and AI, offering a glimpse into evolving investment interests. SaaS seed valuations are analyzed, drawing parallels with AI trends. The episode also addresses the responsibilities founders face in a selective market, navigating fundraising hurdles. Finally, General Catalyst's diversified investment strategy is examined, highlighting its focus on customer value strategies.

Episode #4: David Clark from VenCap International, Continuation Funds by TechCrunch, Neal Sarraf from Forum Ventures

This episode of The Learning Corner explores the evolving dynamics of venture scalability and the pressures that come with it. Expectations for the venture capital industry over the next few years are discussed, with a focus on capital concentration among top-tier VCs. Strategies for non-multistage funds during downturns are examined, highlighting the impact of General Catalyst's new continuation fund. The viability and trade-offs of continuation funds, particularly for smaller funds, are analyzed. The conversation also touches on the changing landscape of seed investing and the importance of maintaining customer focus in a shifting VC environment.

Episode #3: Nnamdi Iregbulem, Jordan Nel, The New York Times

This episode of The Learning Corner we have another member of the investment team joining us, Marina Girgis! The discussion then shifts to a comprehensive analysis of seed valuations and the various factors that influence them. The conversation continues with an examination of non-consensus deal sourcing and the diligence required in such investments. The impact of current market conditions on CRV's fund returns is also discussed.

Episode #2: Anthony Kwesi Hagan, Euclid Insights, Sarah Tavel's Newsletter

This week on the Learning Corner we discuss the importance of transparency in LP-GP relationships especially in a time where the growing need for liquidity is top of mind for LPs. We also delve into a rising interest in AI-first roll-ups, the evolution of tech-enabled service providers, and the management of legacy assets. The episode wraps up with insights into risks and strategies in AI seed investing especially as a B2B AI application.

Episode #1: Welcome To The Learning Corner

Charles Hudson and Mia Farnham kick off the first Learning Corner episode. This week we delved through Hunter Walk's piece on VC misconceptions, the impact of Open AI's new fundraising and Lead Edge Capital's information hierarchy shared in letter form.