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Show Notes
About Podcast Episode
Jenny Fielding, Managing Director at Techstars and Founder of Everywhere Ventures, shares insights on evaluating founders and their ideas, the unique structure of Everywhere Ventures, managing a large community of founders, and the impact of 2023 on startups and venture capital. She emphasizes the importance of resilience, vision, and responsiveness in founders, and highlights the need for founders to focus on the future and the market opportunity. Jenny also discusses the value of working with founders from zero to one and the challenges and opportunities in the venture capital industry. In this conversation, Jenny discusses the challenges of venture capital and the need for resilience and grit in the industry. She shares her personal experience of almost opting out of venture capital before achieving success. The conversation also touches on the topic of preparing children for the future, emphasizing the importance of a well-rounded education. Finally, the conversation concludes with a reflection on the turbulent year of 2023 and a question for the next guest about their word for 2024.
Takeaways
*Resilience, vision, and responsiveness are key qualities to look for in founders.
*Investing in future-oriented ideas requires understanding the market opportunity and the founder's vision.
*The unique structure of Everywhere Ventures, with a community of founders as LPs, provides a collaborative and supportive environment.Managing a high volume of pitches requires asynchronous and automated processes.
*Founders should focus on inspiring investors and sharing their vision, rather than getting bogged down in the details.
*Founders should optimize their business for customers rather than investors, and consider alternative funding options if venture capital is not the right fit.
*The challenges faced by startups and venture capital in 2023 have led to a focus on resilience and fundamentals.
*Pitch decks are important for providing an overview of the business, but the narrative and story are what distinguish a good deck.
*The role of institutional money in startups depends on the founder's goals and the scalability of the business.
*Working with founders from zero to one provides the opportunity to support and mentor early-stage companies.
Chapters
00:00 Introduction and Background
02:14 Qualities of a Successful Founder
05:41 Evaluating Future-Oriented Ideas
08:57 Investing in Blockchain and Cryptocurrency
11:13 The Unique Structure of Everywhere Ventures
14:37 Managing a Large Community of Founders
17:23 Managing a High Volume of Pitches
21:13 Mistakes Founders Make When Pitching to VCs
23:53 Optimizing Business for Investors vs. Customers
24:48 The Value of Working with Founders from Zero to One
27:56 The Impact of 2023 on Startups and Venture Capital
29:32 The Importance of Pitch Decks and Attention Span
31:57 The Different Paths for Raising Capital
34:10 The Challenges of 2023 and the Outlook for 2024
36:08 The Role of Institutional Money and Self-Awareness
41:17 Working at Techstars and Advice for Aspiring Investors
42:47 The Challenges of Venture Capital
44:02 Resilience and Grit in Venture Capital
44:45 Preparing Children for the Future
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