Why Sam Lessin is using the VC model to invest in individuals + Jason funds a startup on air | E1328
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 18 November 2021
⏱️ 67 minutes
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| 0:00.0 | Okay, we've got an amazing episode for you today on this week and start up. |
| 0:03.3 | Sam Lesson of Slow Ventures is on the pod. |
| 0:05.8 | He worked at Facebook and he's an investor in great companies. |
| 0:08.5 | You know, like Roman and air table. |
| 0:10.8 | He recently turned $500,000 into almost two billion dollars |
| 0:15.6 | by directly investing in Solana seed round. |
| 0:18.3 | The cryptocurrency that is taking the world by storm. |
| 0:21.8 | And he did that seed round back in 2017. |
| 0:24.2 | It's going to make one of those slow ventures funds. |
| 0:26.0 | One of the best performing venture funds of the last decade, of course. |
| 0:30.1 | But he's making a new style venture bet that I saw covered in the press |
| 0:35.2 | in the fake news and people were dunking on him a little bit. |
| 0:38.6 | But I thought it was one of the most creative and interesting concepts |
| 0:41.7 | I've seen in a long time. |
| 0:43.0 | Sam recently gave, I kid you not, $1.7 million to a YouTube creator, |
| 0:47.3 | Marina McGilco. |
| 0:48.8 | And he did that in exchange for 5% of her future earnings for 30 years. |
| 0:53.2 | Now, of course, people said, oh my god, |
| 0:54.8 | is this indentured servitude, which is a bit insulting and crazy. |
| 0:57.6 | No, this is an investment in a new style of business, |
| 1:00.8 | obviously a YouTube creator. |
| 1:02.3 | And what's brilliant about it is it takes into account |
... |
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