Satya Patel on the state of VC, flexible investing frameworks & converting to evergreen | E1715
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 6 April 2023
⏱️ 88 minutes
🧾️ Download transcript
Summary
Satya Patel joins Jason to discuss the economics of being a self-funded GP and the structure of their fund (6:51). Then, they have an all-encompassing discussion about the challenges of running Google today, the state of VC, and much more (15:44). Before wrapping, they discuss their investing frameworks and when and when they will not break them (43:29).
(0:00) Nick kicks off the show
(1:21) Satya's early days a Google
(6:51) The economics of being a solo GP
(9:29) Mercury - Apply in minutes and get up to $5M in FDIC insurance at https://mercury.com
(10:58) The structure of a fund
(15:44) The challenges of running Google today
(17:51) The evolution of chat-based search
(22:55) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST
(24:25) The balkanization of AI data
(29:55) The pace of AI and the harsh reality of the private sector
(38:11) Clumio - Start a free backup, or sign up for a demo at https://clumio.com/twist
(39:28) Saying "no" to external funds
(43:29) Flexible Frameworks
(58:05) Founder Archetypes
(1:01:38) Being "founder friendly" and the importance of board meetings
(1:14:09) Screendoor
(1:22:25) Satya's thoughts on SVB
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Transcript
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| 0:00.0 | Today on this week in Startups, Satya Patel from Homebrew joins Jason for a really deep discussion on the state of VC, |
| 0:07.3 | generative AI's impact, why Homebrew converted to an evergreen fund with their own capital, |
| 0:13.6 | what rules he and Jason have for investing in founders, and why they might break them, and so much more. |
| 0:19.1 | It's a great episode, stick with us. |
| 0:21.6 | This week in Startups is brought to you by Mercury, where innovation meets peace of mind. |
| 0:27.3 | Now more than ever, Startups need a safe place to put their cash. |
| 0:30.8 | Mercury offers a simple way to manage bank risk and protect every dollar, |
| 0:34.8 | with up to $5 million in FDIC insurance and a money market fund. |
| 0:39.6 | Visit mercury.com to apply in minutes. |
| 0:42.9 | Squarespace, turn your idea into a new website. |
| 0:46.2 | Go to squarespace.com slash twist for a free trial. |
| 0:50.0 | When you're ready to launch, use offer code twist save 10% off your first purchase of a website or domain. |
| 0:56.8 | And Clumio. |
| 0:59.0 | When you're building a company, don't let backups and compliance requirements distract you. |
| 1:03.8 | Let the data protection experts at Clumio help with immutable air gap backups |
| 1:08.6 | that put compliance on autopilot. |
| 1:11.3 | Visit them at clumio.com slash twist to start a free backup or sign up for a demo. |
| 1:21.1 | All right everybody, we have an amazing guest on the program today. |
| 1:24.2 | He's been on the program before, but |
| 1:26.4 | generally busy working investing in companies and we ask him every year and we get him every two or three. |
| 1:32.4 | And that gentleman is Satya Patel, not Satya Nadal, a different Satya. |
| 1:39.2 | There's two great ones I know of in our industry. |
... |
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