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This Week in Startups

E1068 AMA: NEA’s Ben Narasin takes questions from founders: most important content in a pitch deck, COVID’s impact on dealmaking, traits he looks for in founders & more!

This Week in Startups

Jason Calacanis

Technology

4.41.3K Ratings

🗓️ 30 May 2020

⏱️ 49 minutes

🧾️ Download transcript

Summary

NEA's Ben Narasin takes questions from founders: most important content in a pitch deck, COVID's impact on dealmaking, traits he looks for in founders & more!
Join the TWiST Slack: https://launchevents.typeform.com/to/kLq5Bi
Follow Ben: https://twitter.com/bnarasin
1:13 Paul: Has the current crisis changed your investment thesis? If so, how?
2:40 Ash/Christopher: How to overcome the money raised vs revenue generated in enterprise SaaS that requires heavy product work to reach product-market fit?
4:13 Emberlynn/Srinivas: What is the most important content in a pitch deck?
7:26 Guilherme: What will the VC funding landscape look like after the crisis passes?
8:37 Mary: What is the best way to present a newly launched startup that has been severely impacted by COVID-19 to investors?
10:48 Daniel: What advice would you offer college students passionate about venture capital so that they can also become investors?
12:22 Mark: What immediate skepticism do you have when you look at early-stage startups?
15:54 Len: What factor(s) would most set an early-stage (i.e. seed funding, launch-ready, pre-revenue) company apart from others seeking similar funding?
18:15 Aneesh: My startup sells multiple SaaS products for restaurant digitization. We don’t have the bandwidth to handle sales and marketing of all products at once. What should be our strategy to prioritize?
19:49 Linards: At what level of product traction will investors start to be interested? How does it differ across verticals?
22:40 Avidan: What role (if any) will equity crowdfunding play in the venture capital ecosystem at large?
23:43 Adam: What are you seeing related to startup valuations and VC terms post-COVID?
25:18 Emin: What kind of marketplaces would you like to see in the next 5 years?
26:34 Tammy: Do you think people will need a college degree for the jobs of the future?
28:48 Ellie: Post-WeWork, how should a tech startup with profit margins on the smaller side think about building a scalable and ultimately profitable business model?
30:15 Wei: What sectors are you investing in? What are you most excited about nowadays?
31:40 Ope: What skill sets do you need to move into VC from a non-Investment Banking background?
33:09 Suruchi/Mireille: In a medium article you wrote you wrote: "winter is here, severely ....don't obsess about the downside, think about the opportunities.” What opportunities have arisen so far? What changes are permanent and what changes are temporary?
35:20 Nghia: What are some books that you recommend today?
39:30 Ben: Are there areas that are non-investable at the moment whether it be overcrowded, overpriced, or the prospects aren’t great due to COVID?
40:24 Charles: Do you have any instances where a founder's positive or negative traits/signals have influenced a deal decision? On reflection, has instinct proved a better indicator than hard numbers?
43:42 Dave: What was your biggest exit/best investment? How did you source the deal? Alternatively, could you tell your worst anti-portfolio story (most successful company you passed on)?
44:46 Barry: What are some interesting healthcare startups or spaces that you have a favorable outlook for?
45:51 Raman: What’s your take on the future of learning?

Transcript

Click on a timestamp to play from that location

0:00.0

Today on this week in startups we have an Ask Me Anything featuring NEA venture partner Ben

0:07.0

NARAson. This AMA was recorded live in our Twist Slack channel to participate in weekly AMAs and discuss all aspects

0:17.0

of startup life with Jason and our community of 30,000 founders join us at this week in startups.

0:25.0

dot com slash Slack.

0:29.0

Ben Harrison, I'm at NEA,

0:31.0

I'm a venture partner here and have been for about three years.

0:35.0

And prior to that I was an entrepreneur for 25 years and a seed investor for 10.

0:39.5

So a lot of different types of experience, some of which are highly relevant to what we're seeing happening right now in the world.

0:46.1

Mainly because I've started companies in a multitude of

0:50.2

difficult times. I've started my first company out of college on Black Monday a day when the Dow was down 22.5%.

0:57.0

I lived through the bursting of the bubble 9-11, 2008, only in 2008 I was an investor instead of an entrepreneur.

1:06.8

So in the forum of Ask Me Anything, I've got this list and I'm going to go through them all

1:11.0

until you guys cut me off and tell me my time is up.

1:13.4

Paul, has the current crisis changed your investment thesis?

1:16.4

If so, how?

1:18.0

You know, I think everybody that is an investor is starting to spend material time thinking about what the world might look like

1:25.4

post-Covid. I have a variety of different views of things that could change, but I don't know if fundamental anything material has changed

1:34.7

about how I look at the world as an investor.

1:37.6

I think of simply looking for entrepreneurs that make me say wow is my job.

1:42.8

I want to find entrepreneurs that show me a vision of the future

1:44.8

that I either haven't thought about before

1:46.7

or that they've figured out how to perfectly encapsulate.

...

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