20VC: Why The Best CEO's Are The Best Capital Allocators, How You Can Build A Business In A Space You Are Not Passionate About & When Is The Right Time To Put The Pedal To The Metal with Josh Hannah, General Partner @ Matrix Ventures
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 3 October 2016
⏱️ 33 minutes
🧾️ Download transcript
Summary
Josh Hannah is a General Partner @ Matrix Partners where he has led investments in the likes of Canva, Quora and Huddle just to name a few. However, Josh really is an innate entrepreneur himself having co-founded Betfair in 1999, the worlds first online sports marketplace which is now publicly traded on London Stock Exchange and processes more than $50bn in transactions per year. Following Betfair, Josh bought and turned around eHow where he increased traffic and revenue 30 x before selling the company to Demand Media. Josh has also made some stellar angel investments in the likes of Angellist, HotelTonight and Minted.com.
In Today’s Episode You Will Learn:
1.) How Josh made the transition from founding Betfair and turning around eHow to becoming a General Partner @ Matrix?
2.) Josh took large amounts of VC funding with Betfair and entirely bootstrapped his 2nd business, eHow. How did the two experiences differ and how can founders determine whether to raise VC funding or bootstrap it themselves?
3.) Why does Josh believe capital allocation has gotten worse from founders over time? How does this affect the role of VCs as board members?
4.) Why does Josh believe that people are wrong to say ideas are worthless and it is all about execution? How does Josh approach the process of idea generation? How can this be optimised?
5.) Why does Josh believe, contra to conventional wisdom, that one can build a strong business in a space that you are not passionate about? What are the potential pitfalls that can be avoided?
Items Mentioned In Today’s Show:
Josh’s Fave Book: Shoe Dog: A Memoir By The Creator of Nike, The Rise Of The Robots
Josh’s Fave Blog: Benedict Evans
Josh’s Most Recent Investment: Kinnek (On The Show On Friday!
As always you can follow Harry, The Twenty Minute VC and Josh on Twitter here!
Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC.
This episode was supported by Wunder Capital, the leading online investment platform that allows individuals to invest in large scale solar projects across the U.S. Wunder’s solar investment funds allow you to earn up to 11% annually, while diversifying your portfolio, curbing pollution and combating global climate change. Do well by doing good and sign up for a free account here and join the thousands of people that are already achieving their investment targets.
Transcript
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| 0:00.0 | Hello and welcome back to the 20 minute VC with your host, Terry Stebbings. And if you haven't already |
| 0:04.1 | added me on Snapchat, you are missing out on fundraising snapstorms and Mahito masterclasses, and that's on |
| 0:09.6 | at H Stebbings with two Bs. And for this week on the 20 minute VC, I'm delighted to feature one of the |
| 0:15.0 | world's leading VC funds, Matrix Partners. They've invested in the lights of Oculus, HubSpot, Zendesk, and even the Mighty |
| 0:22.3 | Apple many years ago. And joining me for part one this week is Josh Hanna. Now Josh is a general |
| 0:27.1 | partner at Matrix, and he's led investments in the lights of Canva, who we had Melanie on the show |
| 0:31.7 | previously, Cora and Huddle, of which we had Andy on the show previously too. And Josh really is an |
| 0:36.9 | innate entrepreneur |
| 0:37.7 | himself, having co-founded Betfair in 1999, which is the world's first online sports marketplace, |
| 0:43.7 | which is now publicly traded on London Stock Exchange and processes more than 50 billion in transactions |
| 0:48.8 | per year. Following Betfair, Josh Boughton turned around E-How, where he increased traffic |
| 0:53.6 | and revenue 30 times |
| 0:55.1 | before selling the company to demand media. He's also made some stellar angel investments |
| 0:59.4 | in the likes of Angellist, Hotel Tonight and Minted.com. But before we meet Josh, the 20-minute |
| 1:04.9 | VC is supported by Wonder Capital today, an award-winning online investment platform that allows |
| 1:09.8 | individuals to invest in solar energy |
| 1:11.8 | projects across the US and earn up to 8.5% annually while diversifying their portfolio, curbing pollution |
| 1:18.2 | and combating global climate change. All you have to do is create an account for free at wondercapital.com |
| 1:23.8 | forward slash 20 minute VEC all in letters. That's wondercapital.com forward slash 20 minute VC all in letters that's wonder capital.com forward slash 20 minute |
| 1:29.8 | vc do well by doing good with wonder capital and talking about doing well one of the keys to doing |
| 1:35.1 | well in this game is communication whether it's between the founder or the investor and that's where |
| 1:39.9 | angel loop come in they're the experts in facilitating communication and data sharing between companies |
... |
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