20VC: Gary Vaynerchuk on The Most Painful Lessons Learned but Why it was Good to Learn Them, Why You Have to Change the Timeframe You Have For Success, His Relationship to Money and How it Has Changed Over Time & His First 3 Angel Investments; Twitter, Fa
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 20 June 2022
⏱️ 31 minutes
🧾️ Download transcript
Summary
Gary Vaynerchuk is a serial entrepreneur and serves as the Chairman of VaynerX, the CEO of VaynerMedia and the Creator & CEO of VeeFriends. Now Gary is a content machine and documents his life as a CEO daily through his social media channels which have more than 34 million followers and garnishes over 272 million monthly impressions/views across all platforms. He is also a five-time New York Times Best-Selling Author and is a prolific angel investor with early investments in companies such as Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase and Uber. If this was not enough, Gary serves on the board of GymShark, MikMak, Bojangles Restaurants, and Pencils of Promise.
In Today’s Episode with Gary Vaynerchuk We Discuss:
1.) From Wine Library to One of The Great Angels in Tech:
- How did Gary make the transition from scaling the wine library to $60M in revenue to angel investing in Twitter, Facebook and Tumblr?
- To what extent does Gary think luck plays a role in one's success today?
- What are Gary's biggest lessons from having FB, Twitter and Tumblr as his first investments? How has his style of angel investing changed over time?
2.) Hard Lessons Learned and Insecurity:
- What is the most painful lesson Gary has learned that he is also pleased to have learned?
- How did Gary's relationship with his father impact how he engages with his children as a father today?
- What are Gary's biggest insecurities today? How does he try and combat them? What works?
3.) Money and Success:
- How does Gary evaluate his relationship with money today? How has it changed over time?
- Why does Gary believe that most people think too short-term? What can one do to inspire a more long-term mindset to building?
- Does Gary believe that everything has a price? What is the one thing for Gary that does not have a price?
4.) Resource and Time Allocation:
- How does Gary determine the projects to do vs not to do?
- How does Gary know when to quit a new project? How does Gary advise founders on when something is not working and knowing when to quit?
- What are some of the biggest mistakes Gary sees founders make when it comes to resource allocation in the early days?
Transcript
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| 0:00.0 | Welcome to 20VC and I could not be more excited for this episode today. |
| 0:03.8 | Our guest is just incredible. |
| 0:05.6 | I have one real desire with this episode though. |
| 0:08.0 | I wanted it to be content that's never been heard before or told by this guest on another |
| 0:12.3 | show. |
| 0:12.8 | I wanted to ask questions that no one's ever asked and it led to the most genuine, authentic |
| 0:17.1 | and honest discussion. |
| 0:18.4 | So with that, welcome Gary Vaynerchuk, serial entrepreneur, |
| 0:21.8 | chairman of VaynerX, CEO of VaynerMedia and creator and CEO at Vee Friends. Gary is a content |
| 0:27.9 | machine and documents his life as a CEO Dady through his social media, which have over 34 million |
| 0:33.8 | followers and over 272 million monthly impressions across all platforms. He's also a five-time |
| 0:39.9 | New York Times best-selling author and is a prolific angel investor with early investments in the |
| 0:44.6 | likes of check this out. Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase, Uber. If that |
| 0:50.9 | wasn't enough, Gary's also on the board of Jim Shock, Mick Mac, Bojangles, |
| 0:54.9 | restaurants, and pencils of promise. And again, it's huge thank you to Gary. He was incredibly |
| 0:59.3 | open and it made this show so much more special. But before we move into the episode today, |
| 1:03.6 | if you are a venture capitalist or corporate strategist, I want to tell you about Teegas. |
| 1:07.9 | Teegas is the only company in the world that aggregates qualitative information |
| 1:11.8 | on private companies from Seed Stage to Pre-IPO. With Teegas, you can access other VCs and founders |
| 1:18.1 | expert call transcripts from previous rounds to help source fast-growing companies, create compelling |
| 1:23.7 | emails to get a founder's response, and diligence companies when a round is moving fast. |
| 1:28.3 | I use it personally and I think it's insanely brilliant. Teegas is also providing the most |
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