- No GPs Allowed
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- No GPs Allowed ⚡ #3
if you’re a VC based in Boston, Philly, or Miami: reply to this email! I’ll be spending more time in each of those cities and would love to connect.
I’ll be in SF the week of April 29th - May 1st as well!
VC News
Airchat: Bullish or Bearish?click your answer below + to see what other reader's think! |
Around 500 people DM’d me asking for an Airchat invite. It’s being called the "Hot New App in Tech Circles” have you tried it yet?
Last week a founder tweeted: “talking with a VC associate almost never converts into actual funding” and an assortment of VCs (GPs) + founders came out in full force against that opinion.
Serena Williams has invested in 14 unicorns.
Where do Gen Z’s get their answers? 21% of 18- to 24-year-olds start with TikTok, while 5% start on YouTube.
Marques Brownlee reviewed the Humane AI Pin and was (to say the least) unsatisfied with the product. Founders, VCs, and builders all argued on twitter whether or not such an unfavorable review was “ethical”. What do you think? Reply to this email.
***p.s. scroll to the bottom for my answer.Andreessen Horowitz closes $7.2 billion for new funds
Pitchbook: a comeback for VC gaming investments?
Notion cofounder Ivan Zhao captivated Silicon Valley investors and everyday consumers alike with a sleek productivity app that went so viral its servers crashed. Now, the profitable startup’s CEO sees a rare opening to break Microsoft and Google’s dominance in the workplace by going early and aggressive on AI. — Kenrick Cai
Consumer tech investing is still hot for Maven Ventures, securing $60M for Fund IV
HR startup Rippling is in discussions to raise at a $13.4B valuation, up from $11.25B
A Goldman Sachs research report has valued the global creator economy industry at $250 billion.
VC Theses
who: Maggie Sellers
why: similar to the consumer-hate that we’ve seen from VCs the past few months, I think the creator economy is also deeply misunderstood by VCs. on the heels of cameo’s downround, now is a good time to listen to creators who also happen to be investors. maggie is the antithesis of a multi-hyphenate who is a creator AND investor herself.
who: Brent Liang
why: gaming is getting a lot of hype (a la a16z speedrun, GDC, etc.). other than traditional news outlets, i think it’s wise to read short pieces like this by operators/founders/investors in the space. this particular deck dives into the business model transition to dtc in mobile gaming.
who: Bessemer
why: this isn’t a thesis as much as it is a very innovative & fun way to acknowledge the companies you missed. does anyone else do this?
Investor Feature: Marcello Rossi
How and why did you want to become a VC? I wanted to work with people that leverage technology to solve previously un-addressable problems. I am inspired working alongside investors and founders who are constantly thinking about how to improve the status quo.
What’s your investment philosophy in 5 words? build from wedge into platform.
Strangest place you’ve met a founder? went for a walk down Las Vegas Boulevard (to be fair, it was at a conference!)
#1 tip for folks trying to break into VC & new VCs? meet founders, map out sectors, talk to experts, and build conviction on why one company is unique from the rest. That will give you a clear thesis to talk about that will delineate you from others’ cold outreach.
Investor you admire most? Beyond the incredible investors I work with at Notable, I’d say Charlie Munger who embodies a level-headed, contrarian, and substantiated approach to investment. I think his mentality is especially pertinent in venture capital where market dynamics and company growth trajectories can be volatile.
Break into VC: Jobs
Full-time Investor
01A Advisors is hiring an investor. Apply here!
NEXT VENTŪRES is hiring a principal. Apply here!
Venture Guides is hiring an investment associate. Apply here!
Capital Factory is hiring an associate. Apply here (Dallas) and here (Austin).
What If Ventures is hiring an investment associate. Apply here (DM him)!
Flourish Ventures is hiring an investment associate. Apply here!
Full-time Platform
Draper University is hiring for multiple platform roles. Apply below!
Cowboy Ventures is hiring a Chief of Staff. Apply here!
Techstars is hiring a Program Associate. Apply here!
Internship
Kapor Capital is hiring a summer associate. Apply here!
Bankless Ventures is hiring an intern to start April-July. Apply here!
Expanding Capital is hiring an intern. Apply here!
VC $$$
This part of No GPs Allowed will feature an anonymous investor’s compensation package along with years of experience and title. You can drop your salary details here (anonymously) to be shared in future editions. VC compensation is an exceptionally opaque part of the “breaking into VC” process.
Title: Associate
Fund Size: 50-100M
Base Salary: $120,000
Cash Bonus: $10,000
Carry: 0.75%
Events (for VCs)
No GPs Allowed SF edition hosted by: Zehra, Michelle, Kenan
AAPI Heritage Month Founder & Investor Breakfast hosted by: Zehra
***TBH Marques’s review was not as scathing as the click-bait titles are making it seem. It was a practical, straightforward review and the product simply failed to deliver. People have definitely been blowing his review out of proportion. See Marques’s own response to the chaos here. Also a few comments to think about:
