E1067: Garry Tan, Managing Partner & Co-Founder of Initialized Capital, on dealing with downstream investors as a Seed-stage firm, software companies acting as governments, possibility of building IPO-level companies while fully-distributed & much more!
This Week in Startups
Jason Calacanis
4.4 • 1.3K Ratings
🗓️ 29 May 2020
⏱️ 98 minutes
🧾️ Download transcript
Summary
4:39 How does Garry look at Initialized's portfolio companies? What are his 3 groups of companies dealing with COVID?
8:04 How will VCs react to the crisis? Why does Initialized specifically focus on Seed-stage companies?
11:13 How does Initialized contact downstream investors about their companies, and how has that changed during COVID?
14:12 Thoughts on Posterous, data-storage singularity & more
18:04 Losing thousands of photos after getting banned from Flickr and how that plays into software as the new government, becoming a super-router
22:32 How Spotify's access to public capital gives them an acquisition advantage, collab concepts
24:51 How does Initialized size their follow-on investments?
29:11 For how long is Initialized planning on operating fully remote? Thoughts on going back to work
35:56 What skills has Garry had to improve during his investing career?
43:33 How downstream investors try and take advantage of early-stage investors
47:51 Thoughts on Clubhouse investment, how/if they can scale their exclusivity
56:27 Thoughts on founders selling secondary shares, and how Chris Sacca helped Garry Tan at Posterous
1:02:09 Structural inequality leading to rich-bashing, how Fiat currency impacts welfare inequality
1:07:09 Thoughts on UBI, Instacart, potential profitability of food-delivery companies
1:11:31 Perception of Tech in the Bay Area, commercial real-estate in SF, Facebook's game-theory remote pay scale
1:18:27 Could today's tech giants (Google, Facebook, Uber) have grown to the heights they did as fully remote companies? Can IPO-level companies be consistently built while remote?
1:24:49 Do the best founders appear ageless? New Twitter features: good or bad?
Transcript
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| 0:00.0 | This Week in Startups is brought to you by Silicon Valley Bank, who in partnership with Founders |
| 0:07.6 | Pledge, has formed the COVID-19 Global Impact and Innovation Fund. This fund will deliver resources directly to |
| 0:16.3 | organizations that can help make the most immediate impact in the fight against COVID-19. |
| 0:22.6 | Learn more at S.v.com slash Impact. |
| 0:26.9 | Twilio runs an amazing program for startups |
| 0:30.3 | that includes a $500 getting started credit, |
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| 1:04.0 | Hey everybody welcome back to this week in startups. |
| 1:06.4 | We're recording this episode at the end of May |
| 1:10.3 | on Brian Street somewhere in the Soma District of San Francisco, in 2020. |
| 1:17.0 | If you're looking back on this as a historical document 20 years from now or 40 years from now or 100 years from now. |
| 1:23.2 | Yeah, we're in the middle of the pandemic. |
| 1:24.8 | And it's confusing. It was scary. |
| 1:28.5 | Now it's frustrating. Nobody can make heads or tails of what's going on. |
| 1:32.8 | Nobody believes the statistics. |
| 1:34.4 | The statistics are either being pumped up or |
| 1:37.2 | they're being suppressed depending on who you talk to, |
... |
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