Investor Stories 348: Best LP Question (Schwerin, Walsh, Spreng)

Investor Stories 348: Best LP Question (Schwerin, Walsh, Spreng)


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

  • Jules Schwerin
  • Colin Walsh
  • David Spreng

We asked guests to share the best question they’ve ever been asked by an allocator.

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:

0:18
Welcome back to TFR on today’s special segment, we ask guests to share the best question they’ve ever been asked by an alligator. Here’s the segment called Best LP question.

0:36
Today’s special guest is Jules swearin of RTP. Global Jules, what’s the best question that nobody has asked you?

0:42
And it’s hard to pick one because they’re usually sort of a peppering? I think some of the best questions that I’ve been asked been very blunt, I’ve seen folks really get into the weeds. This one is kind of silly. But why did you invest in that company? And what did you think it could become? On some companies that had failed along the way? It was kind of interesting. And I think what they’re really testing for was, Hey, are you are you playing for? triples? Are you playing for homeruns? And really asking, Hey, what could have gone right? And the thing that went most wrong for you? was pretty interesting.

1:26
On today’s special segment, we have Colin Walsh, varo bank account, what is the best question and investor has asked you? I think we touched on this earlier. I think at the beginning, I got asked these questions. The Why do you think you as a first time entrepreneur can really build a successful tech pack from the from the ground up, I had one, one VC say just go build a simple app, like you won’t know how to do this. And now I look back and I sort of say okay, well, here we are. Eight years later, we’re the second largest challenger bank in the US, we’re the only FinTech to have received the bank charter. We’ve got amazing investors and incredibly talented team. And I say, Well, you know, we’ve given it a good run. So by taking that investor didn’t invest. That is correct, although we still stayed close.

2:14
On today’s special segment, we have David sprain of runway growth. David, what’s the best question then LP has asked you?

2:21
Well, probably I would say, how do you look at risk? How do you think about risk? And you know, that’s a super appropriate and I won’t say easy, but really, like the most fundamental question of an investor. Another one is, you’re telling me about your team? How do you manage your team? You know, who’s your right hand person? And how did you seeing how do you see the firm evolving, and, and, you know, some people start a firm to just live as long as the team does. So I recently read something from Foundry ventures, incredibly successful firm, that just said, we’re not raising another firm. We told ourselves from the beginning, that we’re starting a firm for us, and only to last as long as we want to. And we’re now done, you know, in in runway’s case, we’re trying to build a firm that will be truly institutional, and will outlive any of the management team. And so we really focus on processes that I’m not saying could be done by a computer or a monkey. But that is as consistent as possible. So that there’s a big benefit from an investment point of view, that you look at everything through the same lens. But the other benefit is that you have a process that can be replicated by different people, if for whatever reason, I were to get hit by a bus or, or head of credit or to get hit by a bus. So those two questions are the ones that I found the most interesting and the most fun to talk about.

4:19
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