Nico Wittenborn - Finding the Adjacent Possible - [Invest Like the Best, EP.372]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 • 2.4K Ratings

🗓️ 7 May 2024

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

My guest today is Nico Wittenborn. Nico is the founder of Adjacent, a venture firm that looks for what he describes as the “adjacent possible” for their next investment. Nico has zoned in on the consumer subscription market as his ideal candidate, making early investments in Calm App, Photoroom, and Oura Ring. Nico does virtually all steps of the investing process on his own as he believes this allows him to be as close to finding the truth as possible. We discuss sharpening your intuition, evaluating the subscription business model, and exploring the adjacent possible. Please enjoy this conversation with Nico Wittenborn. Listen to Founders Podcast For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Tegus, the only investment research platform built for the investor. With traditional research vendors, the diligence process is slow, fragmented, and expensive. That leaves investors competing on how well they can aggregate data — not on their unique ability to analyze insights and make great investment decisions. Tegus offers an end-to-end platform with all the data you need to get up to speed on a company or market: up-to-the-minute financials, customizable models, management and culture checks, and, of course, our vast and growing library of expert call transcripts. Tegus is changing the world of expert research. Learn more and get your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:03:30) Intuition in Investment Decisions (00:05:08) The Philosophy of Adjacency in Venture Capital (00:12:51) Exploring Consumer Subscription Models (00:18:16) Common Mistakes In Subscription Pricing (00:22:41) Errors in Product Roll-Out Strategy (00:28:50) The Sucess of BirdBuddy (00:33:45) What It Means To Be a Great Product (00:38:21) Solo Investing vs. Being Part of a Big Firm (00:43:12) Building On Your Own Experience As a Founder (00:44:49) The Rise of Individual Investors and Their Impact (00:50:52) The Strategic Advantage of Staying Small in Venture Capital (00:52:02) Deep Dive into Founder Questions and Consumer Subscription Insights (00:54:09) Leveraging AI and Technological Advances for Growth (00:59:13) Exploring Future Investments and Market Opportunities (01:05:13) Areas to Explore On The Value Curve For Consumer Subscription (01:12:32) Advice For Those Interest In Nico’s Path (01:20:10) The Kindest Thing Anyone Has Ever Done for Nico

Transcript

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0:00.0	This episode is brought to you by Teagis, the go-to destination for bold investing.
0:04.3	The investment research platform trusted by 95% of the top 20 global private equity firms just got even better.
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0:25.2	expert transcripts, more than 4,000 fully driveable financial models, and exclusive
0:30.3	data sets like company management checks, industry
0:33.1	KPI's, hard to find non-gap data, and more.
0:36.7	TIGAS is the fastest way to learn about a public or private company
0:39.9	and the most cost effective way to conduct investment research, now all under one roof.
0:44.8	Learn more and get your free trial at Teagus.com slash Patrick.
0:50.0	You may have heard me reference the idea of maniacs on a mission and how much that idea excites me.
0:55.3	Well David Senra is my favorite maniac on one of my favorite missions with his weekly crafting of
0:59.7	the Founders Podcast.
1:01.5	Through studying the lives of legends, he weaves together insights across history to distill ideas that you can use in your work.
1:08.0	Founders reveals tried and true tactics, battle tested by the world's icons and has David's infectious energy to accompany them.
1:16.0	With well over 300 episodes, your heroes are surely in the lineup,
1:20.0	and his recent episode on Oprah is particularly great.
1:23.0	Founders is a movement that you don't want to miss.
1:25.4	It's part of the Colossus network,
1:27.2	and you can find your way to David's great podcast in the show notes.
1:30.2	Hello and
	...

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