Investor Stories 329: Lessons Learned (Stack, Tully, Green)

Investor Stories 329: Lessons Learned (Stack, Tully, Green)


On this special segment of The Full Ratchet, the following Investors are featured:

  • Risa Stack
  • Tim Tully
  • Mitchell Green

We asked guests to tell the most important lesson they’ve learned in their career.

The hosts of The Full Ratchet are Nick Moran and Nate Pierotti 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:

0:02
welcome to the podcast about venture capital, where investors and founders alike can learn how VCs make decisions and reach conviction. Your host is Nick Moran. And this is the full ratchet.

0:19
Welcome back to TFR on today’s special segment, we ask guests to tell the most important lesson that they’ve learned in their career. Here’s the segment called Lessons Learned.

0:35
On today’s special segment, we have reached the stack of the production board reset, can you tell us a story highlighting a critical lesson that has changed the way that you invest?

0:46
So I think, for me, the thing about the way I invest is, it was the super interesting when I went to what I went to GE because I got to see view as an absolutely amazing place. And I’m so much but it really made me focus on the importance of people and their ability to be able to execute products and the different skill sets. And I think I just doubled down on an investing in really great founders and figuring out how to in that particular case, I was bringing in founders from outside and matching number of people who new industries and businesses and it just really again, made me think about the fact that it’s all about backing people and you know, and having a relationship with those people. That’s That’s number one, and then having a network of people that you can bring together to build businesses. And I think, yeah, I think that’s probably the most important thing.

1:59
On today’s special segment, we have Tim Tolley of Menlo Ventures. Tim, can you tell us a story highlighting a critical lesson that has changed the way you invest?

2:07
I think, you know, I love I love all my companies, I think, you know, the main thing is not to fall in love with the technology. Like it’s easy for me to fall in love with the technology just given what I love, and would be doing otherwise, on a Saturday afternoon, I’d be coding on a Saturday afternoon, right if I didn’t have four kids. But like, early on, I think I fell in love with technology a little bit too much and didn’t think about 360 degrees, like all aspects and all facets of what makes a great investment. Right? It’s the team is the market is the economics of the investment itself. It’s also the product and the technology, but it can’t be just the product and the technology. And I think I’ve learned that lesson pretty quickly. But yeah, I think young young investors like myself at the time, two and a half years ago, you just fall in love with something you’re like, Oh, that’s it? You know, this thing’s amazing. How could people not want this they’re gonna have to, you know, hand over fist money is just gonna come right down the pipe. And that’s, you know, there’s a lot more to it. Right? Yeah, let’s go to market problems. There’s, you know, the leadership like, you understand this? Well, yeah,

3:08
we’ve seen a lot if you’ve been at this long enough, you’ve seen a lot.

3:18
On today’s special segment, we have Mitchell green of lead edge capital. Mitchell, can you tell us a story highlighting a critical lesson that has changed the way you invest?

3:28
Yeah, I think the critical lesson would be cash burn, aka capital efficiency is really important. And it like drive so many of these, you can’t be capital efficient, unless you’re not in a bunch of these other unless you don’t have a bunch of the other criteria. Also, I think one of the big lessons is just stick to what you know, like we stick to these criteria, like okay, it could be really big, we would have missed Amazon that’s fine like that. Again, you have to you have to be comfortable with that you just have to like stick to what you think. Figure out what you’re good at and stick to it.

4:14
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