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My First Million

#191 with Mike Maples - 4 Big Trends and $0 to $1 Billion Startup Idea Frameworks

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 β€’ 2.7K Ratings

πŸ—“οΈ 16 June 2021

⏱️ 63 minutes

🧾️ Download transcript

Summary

Shaan (@ShaanVP) and Sam (@TheSamParr) talk with seed VC Mike Maples (@m2jr). Mike is a co-founding Partner at Floodgate. He has been on the Forbes Midas List eight times in the last decade due to notable investments like Twitter, Twitch, Lyft, and Okta. In this episode he talks about the four big trends he is excited about, the types of companies he likes to invest in, and why a startup isn’t a company. He shares a few of the mental models he uses at Floodgate to evaluate startups and shares the thoughts behind some of his unique turns of phrase. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (1:02) – Debrief of the episode * (6:37) - Intro to Mike Maples * (9:02) - How Mike thinks about the next big thing * (11:00) – The 4 inflections Mike is excited about * (13:51) – Cloud Offices * (19:33) – A brief history of centralization & decentralization * (22:48) – Examples of software defined companies * (26:14) – A practical way to prepare for the future * (30:23) – How Mike thinks about investing in startups * (33:07) – Startup investing mental models * (37:39) – Mike’s take on "1 to n" businesses * (42:36) – Mike on Balaji * (47:11) – Mike on media companies * (49:49) – Force a choice, not a comparison * (54:46) – Mike’s information diet * (57:40) – Contact info & future topics

Transcript

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0:00.0

Let's say everybody's selling banana. You can't say I'm 5x better banana. You instead you should come out and say I'm an apple and

0:08.2

Not everybody's gonna watch your apple, but a hundred percent of the people who prefer apples are gonna want what you have

0:14.3

I

0:27.3

All right, yeah Sean this I was playing this podcast pretty good

0:33.5

How do you feel?

0:35.5

It was good. It was like we showed up no no context like what are we gonna talk about?

0:39.5

Do I need to talk about Bitcoin? Do I need to have something smart to say about Bitcoin because I kind of just

0:44.8

You know, but I believe I buy I hold right. I'm like a monkey in this space

0:49.4

I'm not like you know one of these experts, but um, but we talked about solo biggest solo capitalist that solo pernur

0:56.5

And uh some of the different kind of like things around that so I thought I thought it was actually pretty good conversation

1:00.9

Ben was there and he goes like I liked this one because I feel like everything you said in this was

1:05.4

Something new that I had never heard you say before

1:07.4

He's like whereas you know once you listen to somebody for like hundreds of hours

1:10.8

You kind of hear the same. Great. He sits over and over again. He's like this felt like new stuff

1:15.6

Speaking of listening to us for hundreds of hours or listening to you at least we had a good episode

1:20.4

We just um interviewed this guy named Mike maples

1:23.5

Mike was pretty cool. So Mike is a little under the radar

1:27.0

But he started this thing called floodgate, which is a really big venture capital firm

1:31.2

But really fascinating guy what what all have they done? They've done

1:34.4

Lift twitch

1:37.8

Twitter cruise

1:40.0

Octa which is like a giant enterprise company that's public. So yeah a bunch of a bunch of big winners that he was an investor in pretty early

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