20VC: The Ultimate Hiring Playbook: Five Questions to Ask Every New Hire | What Makes Truly Great Leaders and How They Give Feedback | Do VCs Really Add Value; Lessons from Hard Fundraises with Matteo Franceschetti, Co-Founder @ Eight Sleep

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

🗓️ 20 November 2023

⏱️ 99 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matteo Franceschetti is the Co-Founder and CEO @ Eight Sleep, a company dedicated to fueling human potential through optimal sleep. To date, Matteo has raised over $160M for the business from the likes of Founders Fund, Ryan Petersen, Naval Ravikant, Kevin Hart, AROD and many more.

In Todays Episode with Matteo Franceschetti We Discuss:

1. Why Did Sleep Need "Solving":

Why did Matteo decide he wanted to spend decades of his life-solving sleep?
If Matteo has known how hard it was going to be, would he do it again?
What does Matteo know now that he wishes he had known at the start of the journey?

2. Hiring the Best Team:

What is Matteo's playbook for hiring?
What are the five questions that Matteo asks in every interview?
What are big red flags? What are strong signals of great talent?
If people have been let go in a RIFF, is that a concern?
How does Matteo construct hiring panels? What vote count is enough for an approved hire?
What are Matteo's biggest lessons on title and pay a new hire receives?
What are some of Matteo's biggest lessons when it comes to firing people?

3. Funding the Business:

What was the hardest round to raise? Why?
Are investors justified in their skepticism of hardware?
What are the single biggest pieces of advice Matteo would give to founders on raising?
How impactful has it been having Keith Rabois and Founders Fund as an investor?
Do VCs really add value?

4. Mastering Health, Sleep and Nutrition:

How does your diet impact the quality of sleep you have?
How does exercise and the time of exercise impact your sleep?
What are some common rules on sleep that are BS and myths?
What are some of the most non-obvious truths about getting great sleep?

Transcript

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0:00.0	I always tell my executive, your job as an executive is not to be loved.
0:05.0	Your job is to help your people achieve more than what they believe it was possible.
0:10.0	The most important thing is people should always know what you think of their performance.
0:14.0	I will not take a meeting with anyone in the company if I don't get an agenda slash memo.
0:19.0	I run all the interviews with the same playbook.
0:21.4	I go through each of your previous jobs and I ask you five questions.
0:25.5	This is 20 VC with me, Harry Stebbings, and for early stage founders hiring teams,
0:30.0	this is going to be the most valuable podcast you've ever listened to.
0:33.1	In this show, our guests brace down step by step their hiring process, the specific questions
0:38.8	they ask, the best and worst responses, and so much more, really is one for a notebook because
0:44.2	it's very granular and detailed. Joining me is Mateo Francis Chetty. Knew I was going to get
0:49.1	that one wrong, but just roll with it, Harry. Co-founder and CEO at 8th Sleep, a company dedicated to fueling human potential through optimal sleep.
0:57.3	Now, to date, Mateo's raised over $160 million for the business,
1:01.0	from the likes of our friend Keith Roboy at Founders Fund, Ryan Peterson at Flexport, Navarrell Ravakan, Kevin Hart,
1:07.1	A-Rod, and many more people.
1:08.6	But before we move into the show today, did you know that every 20VC episode you listen to is recorded with Riverside?
1:15.6	Riverside is insanely good. Like, I would pay $1,000 per month for Riverside. It's that good.
1:21.6	Why? Well, first off, Ease. Your guests do not need an account. One click and they're in the recording room with you.
1:28.8	It is fantastic, especially for high profile guests. Second, they record your video and audio
1:33.8	track separately and in the background. So they're not only higher quality, but the guest does not
1:38.6	need to record their end and then send after, which is a total nightmare. But for me, honestly,
1:43.5	what I love so much is how much thought they put into the product.
	...

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