If Tiger Global shows up, will there be new stripes in early-stage?

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 16 March 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This is our Wednesday show, where we niche down to a single topic, think about a question and unpack the rest. This week, Natasha and Alex asked: Will Tiger's second act live up to its first? The question comes after Natasha's latest Startups Weekly column, where she looked into one example of how Tiger Global's stamp of approval is coming for the early stage. Today's conversation is a continuation of that topic, but broadened with examples, context, and of course, some jokes as well. Before digging into the question, we walked through some historical venture shakeups, looking specifically at Andreessen Horowitz, SoftBank and ultimately Tiger Global's own jolt to the startup ecosystem. Remember when we weren't numb to mega-funds, and due diligence was contrarian? Then we get into why Tiger is turning to invest in early-stage companies, now of all times (hack: listen to our episode on market re-correction for some background). We spoke about Tiger cutting a new check into AngelList, and the resulting window it gets. A new-ish AngelList fund has hella Tiger vibes, notably. There's also a conversation to be had about how Tiger's late-stage playbook scales to the early-stage, which made us talk about due diligence, ownership, and fund structures. And speaking of evergreen funds, here's an evergreen reminder to take advantage of code “EQUITY” when subscribing to TechCrunch+ for a hefty discount, and gratitude from your favorite trio of tech nerds. We somehow fit YC in too, because why not. All told the 2022 venture capital market is shaping up to be a very different beast than what we saw in 2021, and not only because Tiger is changing up its own posture. What we saw last year might prove a high-water mark for venture for a long time to come. So, stay tuned. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity, a podcast about the business of
0:15.4	startups where we unpack the numbers and nuance behind the headlines. I'm
0:18.8	I'm Natasha Masqueriness and this is our Wednesday show where we niche down to a
0:22.4	single topic, think about a question and unpack the rest.
0:25.8	This week we're asking, Can Tiger's Second Act live up to its first?
0:29.9	I'll tell you more about what that means but first let me introduce Alex who is
0:33.2	joining me from New Orleans Alex. I am indeed it turns out that my internet here is
0:37.8	good enough to do both video chats and recording at the same time I'm hype and
0:41.2	also I just want to say that I've consumed 60,000 calories
0:44.0	with carbs in the last 48 hours and I feel kind of trash.
0:47.4	Actually.
0:48.4	Wait actually yeah I didn't put it together that you're going to your happy place
0:52.1	where there's amazing
0:53.3	biniers and donuts and sweets. You must be in heaven. I am and like I'm just
0:58.6	eating all sorts of hilarious things while I'm here and New Orleans is a place
1:01.9	where you feel good feeling good if that makes sense like it's a happy place inherently and so I just keep doing things like sure I can have another hot dog right?
1:10.0	a place called Dad dog let's do it and then today I woke up and I was like oh yeah pain all right cool
1:15.4	errors have been made but all that aside we are talking about something that I'm really
1:19.6	stoked about today because it's kind of like a bringing together of so many themes and
1:23.4	topics from the show in the last couple years I think it's gonna be great.
1:26.0	Yeah it's like one of those throat clearing episodes that also happens to match both of
1:29.6	our worlds together which is like what happens when late stage goes early stage?
	...

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