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

20VC: Alexis Ohanian on Why Now Was The Right Time To Start Seven Seven Six, The 2 Very Distinct Types of Deals In Venture & The Unbundling of Social in 2021

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

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4637 Ratings

🗓️ 19 November 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

Alexis Ohanian is the Founder @ Seven Seven Six, his new fund which just recently announced their first investment leading the $4M seed round for Dispo. Prior to founding Seven Seven Six, Alexis was the Co-Founder & Managing Partner @ Initialized Capital, where he backed many a unicorn including Ro, Flexport, Patreon, GOAT just to name a few. Alexis is also the co-founder @ Reddit, commonly referred to as the front page of the internet, their latest valuation priced the company at $3Bn.

In Today’s Episode You Will Learn:

1.) When Alexis left his L Sats to go get waffles, what did he learn about himself? How did that lead to founding Reddit? How did Reddit lead to angel investing? How did that lead to Initialized?

2.) Why did Alexis leave Initialized? Why was now the right time? What worked with Initialized that he has taken with him to Seven Seven Six? What did not work with Initialized that he has learned from? How does he view VC NPS as a result of this and the learnings?

3.) How does Alexis analyse his own relationship to money today? How did his relationship with his mother and her illness impact how he thinks about wealth and happiness? How did he feel when at 22 he sold Reddit? How does he feel about the "keeping up with the Jones'" mentality?

4.) How did having Olympia change how Alexis operates and invests today? How does Alexis define backing projects he would be proud to talk to Olympia about? How does he feel about the type of deals many investors make today?

5.) How did Alexis first meet PG from YC? How did he feel when he heard he believed in him and Steve with Reddit? How did that change how Alexis feels about being the first person to really back someone?

Item’s Mentioned In Today’s Episode

Alexis’ Favourite Book: Superforecasting: The Art and Science of Prediction

Alexis’ Most Recent Investment: Dispo

As always you can follow Harry and The Twenty Minute VC on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the 20-minute VC with me, Harry Stebbings, and today I'm so excited to welcome back,

0:04.0

a dear friend to the show, founder of a billion-dollar company, founder of a leading early-stage

0:08.3

firm, and now founding another early-stage firm. Yes, I'm thrilled to welcome Alexis O'Haney,

0:13.0

and back to the hot seat today. Alexis is the founder at 776, his new fund, which just recently

0:18.4

announced their first investment leading the $4 million seed round for Dispo.

0:21.6

Prior to founding 776, Alexis was the co-founder and managing partner at initialised capital, where he backed many a unicorn including Roe, Flexport, Patreon, Goat, just to name a few.

0:32.6

Alexis is also the co-founder at Reddit, commonly referred to as the front page of the internet.

0:38.0

Their latest valuation pegged them at close to $3 billion.

0:41.1

I'd also want to say a huge thank you to PG at YC and Gary Tan for some fantastic

0:45.8

questions suggestions today.

0:47.2

Really did so help me in bringing this schedule together.

0:49.8

But before we dive into the show today, while 2020 has been a year full of unexpected changes,

0:54.3

one thing has remained constant.

0:55.8

The most important part of a company is people.

0:58.0

And that's where Lattice comes in.

0:59.5

Lattis is rated the number one people management platform to help companies develop engaged

1:03.9

and high performing teams, trusted by over 2,000 companies like Reddit, Slack and Postmates.

1:09.4

And companies who leverage the Lattice platform

1:11.6

see improvements across a broad spectrum from retention, engagement and productivity.

1:16.3

Lattis is the only solution that connects performance management, employee engagement,

1:20.5

and now with the launch of the incredible brand-new lattice grow, career development

1:24.5

in one unified platform to rule them all for people's strategy.

...

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