20VC: Chris Sacca, Chamath Palihapitiya, Gary Vee, Brad Gerstner and more on Their Relationship To Money, How It Has Changed with Time and Wealth, How They Bring Up Their Children To Engender the Same Values of Ambition and Hard Work?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 28 October 2022
⏱️ 27 minutes
🧾️ Download transcript
Summary
Chris Sacca is the Founder and Chairman @ Lowercase Capital, one of the best performing funds in the history of venture capital with a portfolio including Uber, Stripe, Twitter, Instagram, Twilio, Docker and many more.
- From interviewing some of the world's richest married couples, how did gaining wealth change their relationship and marriage?
- What does Chris do to actively ensure his children remain hungry and know the value of money?
Chamath Palihapitiya is Founder & CEO @ Social Capital. Social’s portfolio includes the likes of Slack, Yammer, Front, Intercom and Carta to name a few.
- What does Chamath mean when he says we need to think through the mindset of "infinite games" not finite games? How does this change how you think about money?
- How does Chamath think about his relationship to risk today as a result?
Brad Gerstner is the Founder and CEO of Altimeter. Brad’s notable deals that he has helped lead include Snowflake, Mongo, Bytedance, Gusto, Unity, Okta, dbt, Modern Treasury, EPIC Games, Hotel Tonight and Zillow.
- What is the most important thing parents can do to ensure that despite wealth, their children remain grounded and ambitious?
- Why does Brad, despite being a billionaire, still live in a modest house and not spend on the excesses of life? How does Brad embrace essentialism with wealth?
Cyan Banister is one of the most successful and renowned early-stage investors in the last decade. Her portfolio includes the likes of SpaceX, Uber, Affirm, Opendoor Postmates, Niantic and Thumbtack to name a few.
- Why did Cyan used to hate money? Why was she "anti-capitalist"?
- How does Cyan approach risk management today? Why does she invest every dollar she makes back into the ecosystem?
George Zachary is a General Partner @ CRV, one of the nation's oldest and most successful early-stage venture capital firms with a portfolio including the likes of Airtable, DoorDash, Dropbox, Niantic and many more.
- What did George learn about how the way people view you changes with your increasing wealth?
- Why does George believe rich people like to hang out with rich people?
Biz Stone is best known as the Co-Founder of Twitter and Medium. Biz is also an investor in the likes of Slack, Square, Intercom, Beyond Meat and Blue Bottle Coffee.
- What does Biz mean when he says, "wealth only serves to amplify the person you are?"
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Those people look like money fucked them up. |
| 0:02.1 | Let's go sit with them for a drink and ask them a lot of questions and get to the root of it. |
| 0:06.1 | So how does money fundamentally change a person? |
| 0:08.9 | And what is the right way to think about one's relationship to money? |
| 0:11.7 | Now, I've done over 3,000 interviews of 20 VC with some of the biggest and best investors and founders. |
| 0:17.9 | And this is one of the most fascinating questions. And so today we have Chris Saka, |
| 0:21.8 | we have Brad Gersner, Gary Vaynerchuk, Chamath Pallihabatia, and more on their relationship |
| 0:26.6 | to money, how it's changed over time, and the wisdom and lessons they have from that experience. |
| 0:31.7 | This is an incredible compilation. I really would love to hear your thoughts. You can let me know on |
| 0:35.3 | Twitter at Harry Stebbings, and I hope you enjoy it. But before we move into the episode today, holiday gifting for your friends and |
| 0:42.0 | family can be hard. And for your business, it can be even harder. And Open helps companies of all |
| 0:47.3 | sizes deliver better gifts, and they make it super easy. Their platform is filled with best in class |
| 0:53.0 | brands. There are no bad gifts ever. |
| 0:55.3 | They source locally and operate globally. You don't even need an address. Simply send an email or |
| 1:00.8 | DM with a unique gift link. Ready to put the ease and joy back into your company's gifting, |
| 1:06.2 | head over to and open.com forward slash 20VC. That's and open.com forward slash 20VC to get started today. |
| 1:15.8 | And speaking of amazing tools which really take complex processes and make them super easy. |
| 1:20.4 | AngelList has been a key partner for me in managing my investments. |
| 1:23.8 | I love using the AngelList platform because it abstracts away all the complexity and operational |
| 1:28.5 | burden of fund management. |
| 1:30.0 | Whether you're running SPVs, a traditional venture fund like me, or even a rolling fund, AngelList |
| 1:34.7 | has you covered. |
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