Investor Stories 346: Key Advice (Green, Beller, Jain)

Investor Stories 346: Key Advice (Green, Beller, Jain)

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

  • Mitchell Green
  • Morgan Beller
  • Gaurav Jain

We asked guests for the most important piece of advice that they’d share with folks early in their venture 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:

Welcome back to TFR on today’s special segment, we asked 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.

On today’s special segment, we have Mitchell Greene of lead edge capital. Mitchell, if you could share one piece of advice with a young new investor, what would you tell them

write handwritten thank you notes. Up there, it sounds ridiculous. Perfect. All right, we interview. You know, I think feed my head of HR said we have like 4000 applications for our like five or six analyst spots. Now. I think it’s like a bunch of lunacy now because it’s like the common app. So it’s like super easy. You know, everybody applies to schools now. Now everybody applies to jobs. It’s like super easy. Phoebe tells me and she’s been here like an all year, year and a half. She told me during that entire time, she’s gotten one handwritten thank you note from a candidate one. It’s just not that hard. You just like distinguish yourself. Such a part three, I’m sure.

On today’s special segment, we have Morgan Beller of FX Morgan, if you could share one piece of advice with a young new investor, what would you tell them? Trust

your gut. So I historically and still presently, I’m someone that overthinks everything. And I’ve been in this trust my gut ran right over the past like 1218 months. And I have a little tattoo to remind me. My grandparents are listening. It’s an ephemeral and it’s gonna fade but and your body is really smart. And like, you know, when something’s a good thing, or a bad thing, or someone’s a good person or a bad person, and overthinking is definitely part of the job doing diligence is definitely part of the job. But trust you know, listen to yourself.

On today’s special segment, we have Gaurav Jain of a for capital. Grove, if you could share one piece of advice with a young new investor, what would you tell them?

I’d say one of the biggest ones for me was that this businesses a lot of again, I’m going to focus my answer to like investing early stage and frankly, even like first first check in is that this is a lot of art, and some science but a lot of art. Right? And that means is you have to be patient, to calibrate right and get your sort of get your eye right the Malcolm Gladwell rule, the 10,000 hour rule, I think really applies. Because when I look back, did 12 years ago, when I started to measure some of the companies I got excited about, where I brought the partnership to meet the company. And I was like jumping up and down. And I looked at some of their paychecks and like, wow, I don’t do that. I would take a first meeting, like what was I thinking? And it’s not because I’ve gotten any smarter, the IQ has gone up, it’s just I’ve been able to calibrate across now probably 1000s of pitch decks that I’ve looked at many, many companies I’ve had a chance to work with. So be patient and really optimise for just getting out there meeting founders comparing, you know, companies to each other, and, and optimise for being, you know, and I really think venture is an apprenticeship model. And I was very lucky to learn from some of the best in the business, like optimise for learning what that means be a fly on the wall, if that’s what it takes to be those pitch meetings with the best founders or, or I would tag along at board meetings to companies like pillpack, and others, like I think that is where a lot of the learning comes from. And it’s really hard to like, listen to a podcast and read a book or whatever, like these are all necessary but not sufficient. I think the best way to learn is just to like, just put the reps in and be patient and the performance feedback loops are very long adventure, unfortunately. Right? And what that means is like yes, you may play some, you know, a bunch of investments, but it will take a while before they mature and exit and you know, and a bunch of cycles will happen in the middle. And you just have to be patient I think if you’re gonna do venture, you have to be in it for the long run, right? I don’t think you can, you can do venture for a couple years, cutting through the cold start and things like that, then use something else. It’s just doesn’t work that way. early stage venture late stage venture, of course, there’s a lot more sites there Excel models, you can look at SAS magic numbers, and so on and so forth, compare companies, but when you’re investing in people, at least pre AI into the AI will help us figure out which founders will be the next big thing but until then, you’ve just got to you’ve just got to put the reps in. Yeah

That will conclude this instalment of investor stories. If you’re enjoying the programme 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