ANGEL: Freestyle’s Jenny Lefcourt on nailing non-consensus bets and avoiding hype | E1704

This Week in Startups

Jason Calacanis

Technology

4.2 • 1.4K Ratings

🗓️ 22 March 2023

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Jenny Lefcourt of Freestyle VC joins Jason for an insightful conversation. They delve into the mission of All Raise and the importance of diversity in venture capital (2:04). Jenny shares her thoughts on embracing non-consensus bets and her experiences investing in Narvar and Discord (20:04). Additionally, they discuss the value of strategy meetings in comparison to traditional board meetings (59:10).

(0:00) Jason kicks off the show

(2:04) Co-Founding All Raise: Promoting Diversity in Venture Capital

(9:53) Prenuvo - Save $300 on Full Body Scans at http://prenuvo.com/twist

(11:23) Biases Towards Certain Business Models

(15:05) Identifying and Avoiding Unsuccessful Business Models

(18:54) LinkedIn Jobs - Post Your First Job for Free at https://linkedIn.com/angel

(20:04) Embracing Non-Consensus Bets

(22:53) Jenny’s Investment in Narvar

(28:16) Understanding the Economics of a Seed Fund

(35:14) Comparing Hype: Generative AI versus Web 3.0

(40:47) Miro - Collaborate with Unlimited Team Members for Free at https://miro.com/startups/

(42:28) Insights from Jenny's Investment in Discord

(47:05) Attaining Product-Market Fit and Making a Significant Impact

(56:56) Exiting Deals: When to Move On

(59:10) Strategy Meetings Compared to Board Meetings

(1:04:04) Jenny's Ideal Timeline for Committing to Investments

FOLLOW Jenny: https://twitter.com/jennylefcourt

FOLLOW Jason: https://linktr.ee/calacanis

Subscribe to our YouTube to watch all full episodes:

https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A?sub_confirmation=1

FOUNDERS! Subscribe to the Founder University podcast:

https://podcasts.apple.com/au/podcast/founder-university/id1648407190

Transcript

Click on a timestamp to play from that location

0:00.0	We are back with the final episode of this series, the Angel series that we do,
0:05.2	and we've had so many great three-cycle investors and entrepreneurs on this.
0:09.6	They've been parted so much wisdom, and today I'm joined by friend of the pod
0:12.6	in front of our firm, Jenny Leftcourt. She is from Freestyle Capital.
0:16.6	We have a great discussion about venture capitalists and which business models
0:20.6	they have a bias towards and avoiding hype cycles, and really nailing non-consensus bets.
0:25.8	I think that was probably the highlight of this discussion for me.
0:28.4	And this podcast is really a way for me to catch out with people who are
0:32.6	I think are really smart or new founders who want to change the world.
0:35.6	That's the excuse. I do this podcast just to hang out and talk to smart people.
0:39.6	And today's episode is no different.
0:41.4	She wound up investing very early in companies that you may have heard of,
0:45.4	like, better up and discord companies worth billions of dollars, tens of billions of dollars.
0:49.6	So we chop it up for an hour, and I came to the conclusion at the end.
0:53.6	She needs to come on every year and just share this wisdom.
0:56.4	And just a small programming note here.
0:58.0	These three cycle investors, people with a lot of wisdom,
1:00.6	they've been really great for the show.
1:02.2	I've gotten tremendous feedback from you, the audience,
1:05.2	in terms of having people on who worked through the last two, three, four cycles
1:09.6	in the case of Andy Rackliffe.
1:11.6	So if you have anybody who you know who's been working through three cycles,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jason Calacanis, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jason Calacanis and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.