20VC: Why Hardware Is Actually Software Wrapped In Plastic & "Of Course Hardware Is Hard, Everything Is Hard" with Ben Einstein, Founder & General Partner @ Bolt VC
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 17 August 2016
⏱️ 28 minutes
🧾️ Download transcript
Summary
Ben Einstein is Founder and General Partner @ Bolt, Bolt is a fund designed to address the unique needs of early-stage startups at the intersection of hardware and software, investing up to $500K in pre-seed, pre-product companies. They have created and backed some world class businesses that have received later funding from Khosla, Kleiner Perkins, NEA, and Softtech just to name a few.
In Today’s Episode with Ben You Will Learn:
- How Ben made his way into VC from such a product centric background?
- Why have we seen a rise in hardware investing over the last 5 years? How has this affected the hardware ecosystem?
- To what extent do hardware and software integrate today? Why have we seen the rise of software determining the hardware winners?
- Why is brand the most important thing in consumer hardware? Who has done it best? Who has not done it well?
- What is Ben’s biggest advice to hardware founders today? Why is raising too much money extremely dangerous for hardware founders?
Items Mentioned In Today’s Show:
Ben’s Fave Blog and Newsletter: Ben Evans
Ben’s Fave Book: The Box
Ben’s Most Recent Investment: Grow: Redesigning Gardening
As always you can follow Harry, The Twenty Minute VC and Ben on Twitter here!
Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC.
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Transcript
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| 0:00.0 | I am Harry Stebbings at H. Stebbings on Snapchat and you're listening to a very special two-part of the |
| 0:05.1 | 20-minute VC that will focus on hardware. Now, why hardware I hear you ask? Well, because I found this |
| 0:11.0 | incredible blog the other day on hardware that's really inspired a love of the subject for me and it's |
| 0:16.0 | changing relationship with software. The blog was written by a VC who I reached out to, and today I'm delighted to welcome |
| 0:22.0 | him onto the show. So joining me today, we have Ben Einstein. Ben is the founder and general |
| 0:26.9 | partner at Bolt. Now, Bolt is a fun design to address the unique needs of early stage startups |
| 0:32.3 | at the intersection of hardware and software, investing up to $500,000 in pre-seed pre-product companies, and they've |
| 0:39.3 | created some world-class businesses that've received later funding from Costler, LeCline Perkins, |
| 0:45.2 | NEA, and soft tech, just to name a few. However, before we meet Ben, with half the week remaining, |
| 0:50.2 | remember, every great day starts the night before. Every move you make on wednesday has its roots in |
| 0:55.5 | tuesday that's why i always wish i didn't have that last mahita on tuesday but leap out of bed with that |
| 1:01.2 | can-do attitude and you've got a head start on the world eve only makes one kind of mattress the very best |
| 1:07.2 | with three-layer next-generation memory foam and open-cell technology, they even |
| 1:11.6 | give you 100 nights to trial it with free return pickup. So go to eavematress.com.uk and enter the |
| 1:17.0 | code 20 VC for a fantastic 50 pounds off, and it'll be with you the next day with next day delivery. |
| 1:22.7 | Everybody deserves that perfect start with Eve. However, now time for me to shut up and hand over the |
| 1:27.4 | mic to |
| 1:27.9 | the main man, Ben Einstein at Bolt. |
| 1:34.3 | You have now arrived at your destination. |
| 1:39.0 | Ben, it's such a pleasure to have you on the 20-minute VC. Your blog has inspired a love |
| 1:43.6 | of hardware in me that I really never knew I had, to be honest, so it's fantastic to have you on the 20 minute VC. Your blog has inspired a love of hardware in me that |
| 1:44.6 | I really never knew I had to be honest, so it's fantastic to have you in person joining me today. |
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