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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Why 95% of Venture Capital is Not Really "Venture Capital" | The Five Core Levers Needed To Assess Risk and Price a Startup | The Future of Venture; Who Wins, Who Loses, What Happens to the Crossover Funds with Will Quist, Partner @ Slow Ventures

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

4.4637 Ratings

🗓️ 12 September 2022

⏱️ 46 minutes

🧾️ Download transcript

Summary

Will Quist is a Partner @ Slow Ventures. Over the last decade, the team at Slow Ventures have invested in the earliest rounds of over 500 companies including Robinhood, NextDoor, Airtable, Solana and many more. As for Will, prior to Slow he spent over 8 years at Industry Ventures and before industry, cut his teeth in the world of finance at Banc of America.

In Todays Episode with Will Quist We Discuss:

1.) Entry into Venture:

  • How Will made his way from 6th generation San Francisco to Partner @ Slow?
  • What are 1-2 of the biggest takeaways from his early 1-1s with Don Valentine?
  • What does Will know now that he wishes he had known when he started in venture with Industry?

2.) WTF Really is Venture Capital?

  • Why does Will believe that 95% of venture capital today is not really venture capital?
  • What is true venture capital in Will's mind?
  • How does Will divide the world of VC into two with; venture classic and new venture?
  • How are they different? How are their return profiles different?

3.) The Questions: Discovering Greatness:

  • Why does Will believe “for the most part, investors across asset classes are just asking the same questions”?
  • What are those questions? What different answers are each looking for?
  • What are the 5 core questions that will needs to understand to determine conviction and accurately price an asset?
  • How does Will think through and analyze the question when meeting founders of; “what needs to come true for this business to become a great business”?

4.) The Future of Venture Capital:

  • How does Will predict the venture capital ecosystem will look in 5 and then 10 years?
  • What are the most concerning traits of the venture ecosystem for Will today?
  • Who will be the winners of the next decade? Who will be the losers?
  • What happens to the crossover funds? What will happen to Tiger?

Transcript

Click on a timestamp to play from that location

0:00.0

Now, about seven years ago, I was at a VC event in San Francisco hosted by Samuel Shaw,

0:04.9

and there was one person that really stood out. They were incredibly insightful on the future

0:08.6

of venture capital. They were amazing in terms of presenting, fantastic questions, and ever since

0:13.6

I've wanted to have them on the show, and so I'm thrilled to make that happen today with our welcoming

0:17.6

Will Quist, partner at Slow Ventures to the hot seat. Now, over the last decade,

0:21.9

the team at Slow Ventures have invested in the earliest rounds of over 500 companies, including

0:26.8

Robin Hood, Next Door, Air Table, Salana, and many more. As for Will, prior to Slow, he spent over

0:32.6

eight years at industry ventures, and before industry, cut his teeth in the world of finance at Bank

0:37.4

of America. This was also a real team effort in the world of finance at Bank of America.

0:38.2

This was also a real team effort in terms of the schedule. Huge thanks to Frank Rotman,

0:42.3

Semmel-Shah, Karah, Naughtman, and Kanye Macubaila for the fantastic question suggestions today.

0:47.6

Really did make such a difference. But before we move into the episode today,

0:51.2

Harvard Management Company is constantly seeking out the next generation

0:54.6

of great investors and entrepreneurs. HMC has managed Harvard University's Endowment for nearly

1:00.1

50 years and was one of the first institutional investors in venture capital. Their experience

1:05.2

and long-term investment horizon makes some ideal partners to get world-changing ideas on a path to

1:10.7

viability and success.

1:12.4

They work as a true partner, providing insightful perspectives to help managers succeed.

1:17.2

I personally have had the pleasure of working with the HMC team and can say that they

1:21.0

are truly exceptional partners and savvy investors. Whether you are launching your first fund or

1:25.9

your fifth, HMC welcomes the opportunity to

1:28.6

partner with both developing and establish managers. Have an idea you want to share with the team?

...

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