20VC: Eero's Nick Weaver on Why You Have To Grow One Stage Ahead of Where Your Business Is At and Why If You Want A Great Customer Experience, You Have To Own All The Parts

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

4.4 • 637 Ratings

🗓️ 16 September 2016

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nick Weaver is the Founder & CEO @ Eero. The company that makes your wifi hyper fast, super simple and brilliantly efficient. Prior to founding Eero, Nick was himself a VC at Menlo Ventures where he worked with companies like Uber, Betterment, Periscope and Dropcam. Before becoming a VC, Nick co-founded StartX, the community for the best Stanford entrepreneurs providing them with the required resources to build the next generation of leading companies.

In Today’s Episode You Will Learn:

1.) How Nick made the move from VC with Menlo to Founder and CEO @ Eero?

2.) How can founders identify nascent and attractive markets that are ripe for disruption?

3.) How did Nick approach the pricing mechanism with Eero? Why do hardware startups need to have a greater margin than software startups?

4.) Why did Nick raise 2 rounds of funding before the product launched? Why did Nick decide he wanted to own all the parts of the production chain with Eero?

5.) How does Nick view the competitive landscape for such products? How does he view large incumbents like Netgear, compared to smaller startups like Luma?

Items Mentioned In Today’s Show:

Nick’s Fave Blog and Newsletter: Term Sheet: Dan Primack

Nick’s Fave Book: Man’s Search For Meaning by Viktor Frankl

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

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

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Cooley are the global law firm built around startups and venture capital. Since forming the first venture fund in Silicon Valley, Cooley has formed more venture capital funds than any other law firm in the world, with 50+ years working with VCs. They help VCs form and manage funds, make investments and handle the myriad issues that arise through a fund’s lifetime. So to learn more about the #1 most active law firm representing VC-backed companies going public. Head over to cooley.com and also at cooleygo.com.

Transcript

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0:00.0	Hello and welcome back to the third and final instalment of this very special Red Point feature week on the 20 minute VC with your host Harry Stebbings at H Stevings on Snapchat.
0:09.2	Now for this Founders Friday we're featuring a Red Point Rocket Ship startup investment. So joining me today, I'm thrilled to welcome Nick Weaver, founder and CEO at Eero, the company that makes your Wi-Fi hyper-fast, super simple and brilliantly efficient.
0:23.1	And prior to founding ERO, Nick was himself a VC at Menlo Ventures, where he worked with companies
0:27.9	like Uber, Betterment, Periscope and DropCam, just to name a few.
0:31.9	And before becoming a VC, Nick co-founded Star-Tex, the community for the best Stanford entrepreneurs,
0:38.5	providing them with the required resources to build the next generation of leading companies. And if you do hear a bit of
0:43.7	interference in the show today, well, what can I say? I didn't have an era at the time of this recording,
0:49.0	which clearly shows how important they are to today's Wi-Fi. And in the spirit of it being
0:53.7	Founders Friday,
0:54.5	for the past few days you've heard about Cooney, the global law firm that formed the first venture
0:58.7	capital fund. Well, they are also the market leaders in working with thousands of entrepreneurs
1:03.0	and newly formed companies to ensure that they're structured for growth and long-term success.
1:07.8	Cooney is a world leader in financings, M&As and IPOs, and since 2005, Coolly has been
1:13.8	ranked the number one most active law firm representing VC-backed companies going public. So to learn more,
1:19.4	head over to cooley.com or check them out on cooey go.com. And with the weekend coming,
1:24.3	it's also time for that Saturday morning lion. And so good to know we have Eve to make that all the more enjoyable.
1:29.9	Eve is the UK's number one direct-to-consumer mattress company.
1:33.5	Because they don't sell through high street stores, they can cut out an incredible 70% of traditional costs,
1:39.1	and pass those on to us, the consumers, developed over four years with thousands of prototypes.
1:44.8	Eve is so confident of their matches that they give consumers 100 nights to try it at home
1:49.6	before committing.
1:50.7	For those of you who don't love it, they even offer a free return pickup with a full refund,
	...

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