On this special segment of The Full Ratchet, the following Investors are featured:
- Jim Tananbaum of Foresite Capital
- Navin Chaddha of Mayfield
- Ben Orthlieb of Blue Moon
We asked guests for the most important piece of advice that they’d share with folks early in their venture career.
The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.
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Transcribed with AI:
0:19
Welcome back to TFR on today’s special segment, we ask guests for the most important piece of advice that they’d share with folks early in their venture career. Here’s the segment called key advice.
0:36
On today’s special segment, we have Jim Tannenbaum of foresight capital, if you could share one piece of advice with a young, new investor, what would you tell them? Venture capital
0:45
is a hits business, and basically every fund is driven by one or two hits. So get involved with great people, you know, and, and, and think big, because it’s the hits that are going to drive everything you
1:07
do on today’s special segment, we have Naveen Chadha of Mayfield. If you could share one piece of advice with a young, new investor, what would
1:15
you tell them? Patience. Company building is a marathon. It’s not a sprint. Just be patient. There’s no overnight success in this business, and just one success is not important. It could be a fluke. It’s a patience game.
1:36
On. Today’s special segment, we have Ben orthlebe from Blue Moon, and if you could share one piece of advice with a young, new investor, what would you tell them?
1:44
My belief is access and win rates are the, the main, the most important ways to win in venture. If you’re a new investor, how are you going to create those two things in a way that is different and not the traditional story that everybody’s been using for 10 years? Tell me more. Expand on that when you, when you start a fund, you’re the usual canon is you should do as big a check as you can in a concentrated portfolio, and watch that portfolio very closely. And I think that’s a misunderstanding of a few things, including when rate, but also the economics of venture fundamentally, it is preferable to invest bigger checks, because that’s bigger management fees, but for returns early on in your career, adverse selection is a problem. And so for me, having a real story for if you’re leading, why do you win when Sequoia or in recent or foundation or NFX don’t is very important. How do you get how do you get access at scale? Because differentiated access is dead or may exist for two or three deals you don’t make a fund out of this. And how do you win? Those are the important questions
2:59
that will conclude this installment of investor stories. If you’re enjoying the program and would like to see it continue, take a moment and leave a five star review in iTunes. Okay, that will wrap things up for today until next time over. Prepare, choose carefully and invest confidently. Thanks for joining me.
