E1055: Hustle Fund Co-Founder & General Partner Elizabeth Yin on her unique portfolio strategy, attracting first-time LPs, optimism for post-COVID fundraising, dealing with pro rata as a smaller fund & more!
This Week in Startups
Jason Calacanis
4.4 • 1.3K Ratings
🗓️ 8 May 2020
⏱️ 64 minutes
🧾️ Download transcript
Summary
5:47 Jason intros Hustle Fund's Elizabeth Yin and they discuss the process of raising Hustle Fund I and targeting first-time LPs
10:25 Why high net worth individuals would look to become venture LPs
14:26 What's the deal with Elizabeth & hippos? Where can you find Jason as his alter-ego "CyberSurfer"
15:49 What is Hustle Fund's portfolio strategy?
18:55 When do you know if you have a 100x outlier? Why roll prior angel investments into the fund?
24:15 Thinking of venture funds from a gambling perspective
28:24 What is Hustle Fund's approach to pro-rata as a smaller fund?
34:49 Founders ability to "game" investors increasing in last 5 years
37:47 How does Elizabeth decide to make the follow-on second bet in a company?
42:01 How does Elizabeth advise her startups to raise from downstream Seed/Series A investors, importance of positive unit economics
47:41 Challenges of fundraising in today's climate
50:34 Reasons for optimism/pessimism, lockdown creating a necessity for innovation
56:55 What will COVID's permanent ramifications be on startups?
Transcript
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| 0:50.0 | Hey everybody welcome to this weekend's startups. I'm your host Jason |
| 0:53.7 | Callicanis and we're recording this on May 5th so not May the 4th be with you but |
| 0:59.2 | May 5th the day after Star Wars Day and we're in the middle of the global pandemic but things feel like |
| 1:06.4 | they're getting better in some ways there's still a lot of concern out there |
| 1:10.0 | people are still scared and we carry on here on the podcast in fact we're doing |
| 1:14.2 | more than ever and I think that this is the big lesson for all of us not take |
| 1:21.4 | for granted what we had before this pandemic and maybe appreciate what this new world is going to be |
| 1:27.6 | There's going to be a lot of problems going to be a lot of challenges, but it's going to be a lot of opportunities and it feels like we've got a pretty good handle on how |
| 1:34.7 | to save people's lives. |
| 1:36.2 | And the human tragedy of this is just shocking to a level that, you know you if you just obsess on that I think you don't get out of bed in the morning |
| 1:47.7 | when New York City hit 900 people a day I just had this |
| 1:51.7 | moment in this flashback to 9-11 when I watched, you know, 3,000 people or so died that day, |
| 1:58.0 | and I just thought, wow, it's a 9-11 every three days. |
| 2:02.0 | And when you start thinking about it that way, |
| 2:04.5 | and you start thinking about the number of people who have died, |
... |
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