저자: ChamathPalihapitiya · 외국인
요약 보기
벤처 투자자를 고를 때 창업자가 봐야 할 네 가지 기준을 설명한 영상이다. 첫째, 투자 포트폴리오의 품질이다. CB Insights, Mattermark 같은 데이터로 VC 포트폴리오를 평가할 수 있으며, 고성장 기업 비중이 높은 투자자가 좋은 선택이다. 화자는 자사 포트폴리오 중 약 70%가 고성장 기업이라고 주장한다. 둘째, 후속 투자 유치율이다. Series A에서 B로 넘어가는 비율과 B에서 C로 넘어가는 비율을 함께 봐야 한다. A→B는 Sequoia, Spark가 높고, B→C는 Greylock이 최고라고 언급한다. 두 확률을 곱해 순위를 매기는 것이 유용하다는 주장이다. 셋째, 투자자와 창업자의 가치관 일치 여부다. 성별, 인종 등 배경뿐 아니라 사회와 삶에 대한 관점이 맞아야 장기적 성공에 도움이 된다고 본다. 넷째, 영상 중간의 광고(Invision 앱)는 투자 판단과 무관한 협찬 내용이다. 출연자 전망: 특정 자산·종목에 대한 가격 예측 발언 없음.
다듬은 글
here's what I've realized about picking a good investor there are I think four things that matter and you should do your own diligence because these things are critical especially when times are tough the first is are they good pickers and there is now exceptional data from places like CB insights in mattermark where they will go and literally rank every single portfolio of every single venture capitalist to answer the question is this a high growth portfolio or not and I'll tell you why it matters but that's number one it matters because now success begets more success you are then surrounded by a portfolio of other great exceptional leaders as they learn things they can pass them off to you it's better to be within a group of winners so it's better to be you know the 11th guy on the Warriors than it is to be the second guy uh on the 76ers always well the first guy on the 76ers even that yeah so that's the first thing what I would say on portfolio quality actually seven out of 10 companies are high growth companies according to those guys we're number one in the entire industry and I think what that means is we're good pickers so the diligence that we do and the thoughtfulness that we take to understand people and their businesses sometimes it takes us a little bit longer than we would like and maybe you would like like but I think we generally get to good answers and even when the answer is it's not a good fit we try to give as much feedback back to make it a fit okay that's the first thing the second thing then that I think you need to look at is what is the percentage of that VC's portfolio that gets followon financing and it's so crucial so as an example seoa has the single best percentage of getting A's financed to B's the single best spark is second we're third and then everybody is a distant also ran and we are like two Sigma above the industry average why is it important so obviously Sequoia has a fantastic brand when they pick you there's a bunch of folks out there that will give you the benefit of the doubt hugely important when you need to raise more Capital but then you have to ask yourself well what about from B to C and there what's interesting is Greylock is the best we're the the second best and everybody else is a distant Alan and seoa is actually right below the industry average so what does that say what it says is a you have to construct and be good pickers and then B you have to help the portfolio companies in very specific ways so that you continue to get to that next tier of capital it's not sufficient to just pick somebody because they can get you from the a to the B if from the B to the C you're just as [ __ ] as everybody else that doesn't work and it's not sufficient to pick the wrong person in the A and then all of a sudden hope it's going to work out in the B so it's really important that you're maximizing both those probabilities so again CB insights mattermark look at the data multiply those two things together and rank them and it's important for you because you cannot afford to be in a situation where in the absence of operational help you could run out of oxygen accidentally and then you want to have a situation where your Venture investors have the benefit of the doubt with other investors because over a period of making enough good Investments they will say to you all right I'll give you the benefit of the doubt so that I can call in the 11th hour and say listen I know this is on the fence for you but put in the 5 million I'm telling you we can help make it work it [ __ ] matters especially in times like this and then the other two things which I think are are important to me personally is number one is are the people that you're working with mapping to what you are as a person whether it's your gender race ethnicity which is more at this level or whether it's your perspective and philosophy on on how society and life should work because if you are going to be successful I think it's really important that you pick people to bring along that are like you so then that your values are then further reflected because success begets success and the last thing you want to do is create a successful person in someone you morally dis agree with and you do that by picking the wrong investor so I think that's a really important one hey everybody let me tell you a little bit about Invision app I use Invision app all the time with my designer my product manager my growth team to share mockups of our products we take those mockups and we design them and we send them to clients to Partners to investors and we say here is an Envision link open this on your iPhone on your Android phone and you can click through and see what this product that we're making is like and when we're building websites hey put your comments on there we have a partner we have a big Smart Camp thing going on with IBM Smart Camp 2015 you know we can use Envision to share that website and say hey is there anything you want to change and then have a threaded discussion you can take all those discussions off of email all those discussions out of the chat room listen email and chat rooms have their place but not in product design Invision is like slack but for product design right so you have slack for a general conversation you have Gmail for you know asynchronous communication you have Envision for product Excellence you cannot make a great product without Envision I am dead serious about that every startup I invest in I show it to them they ask them to send me links and boy does it work it supercharges everything you do I love this product I love this product I love this product get out of email get out of chat rooms and do what Twitter Airbnb Evernote Adobe and many more are doing prototype um what you're doing in Invision it just makes designers and teams and Founders so so so much more efficient go to invisionapp docomo for 90 days free that's their starter plan free for 90 days only at Invision app.com twist Invision app.com twist and everybody thank invisionapp on Twitter I thank them for making a great product and for supporting Independent Media like this week in startups let's get back to this amazing episode
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