Book was a fine intro to VC but I thought it didn’t provide me much value-add and didn’t get some things right.
First, a lot of the book is pretty intuitive stuff about investing or things I already knew. A lot of it also want specific to VC and the Qs are outdated as the stuff nowadays are tougher.
Some issues - 1) thought there wasn’t a lot of quantification used in the pre written answers 2) the questions they told u to ask interviewers also weren’t concise 3) some KPIs (Rof40, magic number, GPM/OPM to expect for SaaS, NRR vs GRR and MANY OTHERS) were just not included
Everything was just very bare bones or not entirely correct so I didn’t think it was a great read.
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Notes:
- VCs return 25% IRR
- Angela invest their own capital, also called “angel” bc 043-product
Bloggers
- Paul Graham - started YC
- Mark Suster -
- Jcal - Uber, Twitter, Zenga, Thumbtack, snap
- Fabrice Grinda
- Sam Altman - Pres of YC, Loopt
- Kanyi Maqubela - Doonstang, Collaborative Fund
- CH insights
Big Angels
- Alex Ohanian - Reddit founder
- Benioff - CRM
- Max Levchin - PYPL, AFRM, Slide
Venture debt
- used if you need ST financing for some upfront cap ex or fixed costs - usually provides but an equity investor (GE/PE)
KPIs
- book to bill ratio - looks at revenue conversion (book takes def revenue into consideration)
- Dave Berkus method - strat that he just added 500k of valuation for various factors
- Rule of thirds - one third for VC, one for mgmt and one for future
- Bill Gurley - Uber, GRUB, OpenTable, Zillow
- Fragmentation is good