20VC: Redpoint's Tom Tunguz on Winning with Data: How To Gain A Competitive Advantage & Dominate Markets with Data and 5 Steps To Create A Data Driven Company

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The Twenty Minute VC

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

4.4 • 637 Ratings

🗓️ 12 September 2016

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tom Tunguz is a Partner @ Redpoint Ventures, where he has invested in the likes of Axial, Dremio, Expensify, Electric Imp, Looker, and ThredUP. Tomasz is also the co-author of Winning with Data: Transform Your Culture, Empower Your People, and Shape the Future, which explores the cultural changes big data brings to business, and shows you how to adapt your organization to leverage data to maximum effect. Before joining Redpoint, Tomasz was the product manager for Google’s AdSense social-media products and AdSense internationalization.

In Today’s Episode You Will Learn:

1.) When did Tom perceive the true power of data for the first time?

2.) What is the biggest difference between a company that is data driven and one that is not? What are the inherent benefits and how can non data driven businesses become data driven?

3.) What are the best data driven teams doing to operationalise their data today?

4.) Adam Grant: 8% of job interviews are productive. So what structure can management use to ensure higher efficiency in the hiring process?

5.) What are the complexities and skills required for strong data analysis in today's environment?

6.) Data often leads to over confidence in decision making, how do you prevent illusion bias once data has been obtained?

Items Mentioned In Today’s Show:

Tom’s Most Recent Investment: Dremio

As always you can follow Harry, The Twenty Minute VC and Tom 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 to the 20 minute VC with your host Harry Stebbings and you can add me at H Stebbings on Snapchat.
0:06.3	And for the show this week, we have a very special feature week as we feature one of the Valley's leading VC funds, Red Point.
0:12.7	And joining me today from Red Point, we have none other than Tom Tungers, partner at Redpoint and many of you might have read his incredible blog.
0:19.9	But I really wanted to have him on
0:21.0	the show today first because he is really one of the best minds in sass and second because he's
0:25.8	recently released a book titled winning with data now for long time listeners of the show you will
0:31.2	know that books are not usually my thing but this book absolutely had me from start to finish
0:35.9	really was an absolutely incredible read
0:38.0	and so stay will be picking a couple of strands from the book and deep diving on them i also have to say a
0:43.0	huge thanks to tom it was such a fun interview to record and a real pleasure to have him on the show again
0:47.4	but before we meet tom today it's very easy to see vc's with the books the blogs the podcasts but
0:53.1	what about backstage and how they operate and function?
0:55.8	Well, that's where Kooley come in. Kuli are the global law firm built around startups and venture
1:00.5	capital. Since forming the first venture fund in Silicon Valley, Kuli has formed more
1:04.8	venture capital funds than any other law firm in the world, with more than 50 years' experience
1:10.0	working with VCs. They also
1:11.6	help VCs form and manage funds, make investments and handle the myriad of issues that arise
1:16.9	through a fund's lifetime. So to learn more about the number one most active law firm representing
1:21.2	VC-backed companies going public, head over to coolly.com and also go to coolly go.com to check out more. And with all the operational
1:28.9	support behind the scenes, it is imperative to get a good night's sleep. And that's where Eve come in.
1:33.6	Eve is the UK's number one direct consumer mattress company, because they don't sell through
1:38.2	high street stores, they can cut out 70% of traditional costs and pass those savings onto you,
	...

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