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VC Power Hour: How to pitch Sequoia and the Most Sought After Angels

Brianne Kimmel
Founder & Managing Partner at Worklife Ventures
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About the talk

About speakers

Brianne Kimmel
Founder & Managing Partner at Worklife Ventures
Jeff Morris
Managing Partner at Chapter One
Harry Stebbings
Founder at Stride.VC
Stephanie Zhan
Partner at Sequoia Capital

I started Worklife with the vision of investing in companies that make work more flexible, creative, and human. Our model was built to help product founders with go-to-market including access to the strongest network of operators who have built bottom-up companies: execs at Airtable, Dropbox, Notion, Slack, Superhuman & more We especially love consumer product builders who are solving a known problem at work with better design and deep understanding of the people who will use it. Worklife is backed by Marc Andreessen, Zoom CEO Eric Yuan & execs from Dropbox, Slack and high growth startups reimagining work together.

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Jeff Morris is the founder and Managing Partner of Chapter One. He was previously the VP of Product, Revenue at Tinder. In the role, he led the revenue team to the #1 top grossing app in the App Store and directed one of the top grossing products in mobile history. As a product leader, Jeff is passionate about building high performing teams and creating profitable products. He is known as being one of the most passionate product minds in the subscription space. At Tinder, Jeff built the revenue team and led the creation of multiple blockbuster hits including Tinder Gold and Boost. These products broke industry records and helped increase the Match Group market cap by $10B+. Jeff is an active angel investor through his fund Chapter One and has invested in companies including Lyft, Lambda School, Superhuman, Roman, Cameo, Branch Metrics, and mParticle.

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Harry is the Founder of The Twenty Minute VC, the world's largest independent venture capital podcast with over 100,000 listeners, partnerships with Mattermark and ProductHunt and guests from over 200VCs including the likes of Accel, Kleiner, Y Combinator, Benchmark and Index. He is also a contributor for TechCrunch covering all things startups and VC funding and has recently joined Jason Lemkin at Saastr to build out the platform and expand into new verticals. Their first project, The Official Saastr Podcast, broke all records on release and has featured consistently in Apple's Top 10 Business Podcasts, New & Noteworthy and What's Hot sections. Outside of startups and VC, Harry enjoys mojitos, mojitos and then a few more mojitos.

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Partner @Sequoia. Seed to Series A and beyond... here to be your first and long term partner. Would love to hear from you! szhan@sequoiacap.com

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Give me something about 15 seconds and then go tanning. someone Counting ready to rock and roll Yeah. That's jacked. Okay. Awesome. Thank you so much for joining me say I'm very excited for this when I need to ask you to do that start with a little bit on you and how you made your way into this Friday at 1:12. So let's go with that. How do you make you answer? How do you come see why you are staying? Stop you go first or personal thank you so much for having us onstage Sasser and Harry. Thank you for for joining us react wonderful to be with you too. I'm Stephanie. I'm I'm one

of the partners at Sequoia have been here for about five years working on everything early stage. We're partnering with companies from idea. So seed precede all the way through to IPO & Beyond found my way into Silicon Valley after a long. Of time across Hong Kong and Beijing and it's always been my dream to be at the epicenter of everything and Silicon Valley end and Entrepreneurship. And so it's been a dream to be here working with a bunch of interesting companies across the Enterprise and sounds world. Brown tell me what's the timings for having me on

Brianne Kimmel. I am the founder and managing director of a new early-stage firm called work-life. I started out as an angel investor on prior to starting a firm. I was on the go to market team at zendesk and had build a great program called send us for startups and had spent been spending a lot of time in the ecosystem. And one thing that I noticed especially at the earliest age is know there's a lot of really business-critical questions that Founders a specifically first ask companies. There's there's always a question on do you start more bottom up or at what point do you start thinking

more top down and I are going to sales team. And so I found the more the more time I was spending spending time with early-stage companies SAS companies are in particular had a lot of questions. And so I had to build a program called sasco that I run once a quarter and you know it essentially use that program and a lot of great relationships that I had in the ecosystem 2 * My own early-stage fund and so we are a lot less than a year old was made about 20 in dustman's today and some great companies are actually speaking at faster on this week and we help companies with go to

market. So that's everything from you know, building early Community sort of bottom-up evangelism, which is especially relevant for devtools. I said a lot of time on self-growth and Groth engineering and what that means for SAS companies and we host a lot of events actually over resume, which is really awesome. We've been doing weekly events kind of chipping away at different questions across organizations that we host everything from sales Ops 2 marketing off, you know, what it what's it like to hire your first developer evangelist. And so we're very much a community and network-based

firm and I'm a hustler General partner. I said with your own schedule at the house of the Is the crazy time in the Southcenter Fresno right now and I'm leading the way in terms of of building an incredibly interesting business that's impressive scale and company is in the public market. And so that's I think she will do a lot of the excitement as well and a private markets even down to the series A&C stages where we're seeing that I think it's an interesting time because There are a lot of new

interesting applications that are now possible because this teacher has been accelerated by a lot of what covid has brought, you know, a lot of things around the productivity collaboration Robinson cusine increase adoption zoom in slacker products that are coming out because people are realizing this could be our future for a long. Of time going forward and even a lasting impact teacher assistant accelerated. So there's a lot of excitement that is doing a lot of energy and high activity as well as higher in evaluations. And

I thinking about the ecosystem has has been Super Active I know for us at Sequoia, and I'm sure this number is even and you know, I think Number with maybe will be looked at in August, but we have no partner with 15 companies at the theaters here is a safe place in mid-march. And so that's impressive in terms of activity that we've been that we've been having in a time of a lot of uncertainty and has been a lot of adjustment then goes on the outside and on the inside.

Yeah, I completely agree main building on Steph's playing your resume is now worth more than 85% of the S&P 500 and as of two days ago, you know Zoom reported that they are worth more than IBM. And so we're seeing these new Silicon Valley based companies achieve like true Global and mainstream adoption. And so it's been really has been fascinating to see even you know pre and post. Fortune 500 sand in large Enterprise and you know teams or maybe slightly more adverse to working from home have now been pulled into a forest

and pretty steady state of working from home. And so there's a lot of considerations. They are both on the company building side of things for Founders, you know on the talent side of things were, you know, people that are looking for their next job and from an investor standpoint, you know initially prior to covid-19. So, you know, I had a hypothesis that it would get back to traditional fastmetrics and that there would potentially be a cooling from evaluation

standpoint. But what we're seeing, you know, Minato bed and nnn, even where we are today it is that that doesn't seem to be the case and you know companies are there great companies being built right now. I think that with an extended. Of time at home. There's a lot of people starting companies and was awesome is that you know, I get really excited about any of the companies that you know are Potentially sing a higher valuation or are potentially seeing Excel accelerated periods of growth many of them are leaving Hydro Tech companies like

an Airbnb and Uber they're making their way into Enterprise, which is awesome. Because you know, when people are at home or when people have experienced some of these business-critical missing pieces of their text. Stand up leaving the company that starts something great and some very excited to see just the amount of companies being started and I think quite frankly given the success of you know, how these how specifically sauce companies are performing in private markets and then scaling very efficiently in the public markets. The devaluation is sort of where it stands today.

Future drippin and says the question in determining with the proliferation of these tools and secondarily, I guess you think we'll see this going to consolidation consolidate remarket wax these tools do you got a quad fuel? Anyway, he's eating the stocks at its peak. How do you think about that? That's a good question. I'll jump in. So my point of view is always on the side of the individual who's using the product and so the entire shift towards the consumerization of Enterprise is can we efficiently acquire as many years as possible the interesting thing about the way that people are

working today is there there's a lot of of tools available, you know, there's there's a lot of great products and things that you can use and so what I find to be really interesting from future wedge standpoint is now the wedge has to be much richer and much deeper than it used to be. I would say that consumer demand for great product design for great onboarding for you know, personalized customer success is really important. And so I find if anything especially during covid-19 pennies are investing more in a community and customer success

and these programs were essentially There needs to be yes amazing product design and yes amazing features that do differentiate one product from another but also I'm noticing that even at the earlier stages companies are starting to layer in more programming and and more resources to ensure that individual users see noticeable differentiation from other products that are available. I completely agree with that for me. I think it comes down to just Back to Basics figuring out who your core user is what their pain is and figuring out how to build a

product that's enough for them. And I think if you have a very if you if you focus on the right core user and you try to solve their top one or two needs in a very different she'd way in the same way that some someone like big mama has done for designers, which we're thrilled to be partners with something like what linear has done for modern-day developer or something like what Zoom has done for the you know, average user. I think all could have said that their initial product, you know in the early days was could have been just a teacher

but the extent to which they really found in to focus on delivering the most delightful experience that was differentiated from all the incumbent. Space and then build around that I think is what gives it has what has given them that opportunity to really Define a category around them. No, I totally agree. And I did promise me what I should make some schedule a meeting, but do you have any new ones this year? Well if I can take a swing at the first time so at Sequoia, we are I would think of as your. Partner one of your first partner and we want to be your

long-term partner and want to be with you supporting you at every step of the way both in terms of capital resources and also just time and energy and help our investment strategy. So it's very full stack and I would say in the early days, you know, we are actively working with our company's weather there regardless of stage and we we in a weed Ivan to help on both the Strategic side of things as well as more of the Wichitas companies we work with and you know, I would say everything from Dropbox which we were actually an early stage seed

investor in and we continue to partner with overtime as well as in a company's like Snowflake and zoom and OCTA as a bigger players and we're all so excited about many of them. Gas companies in our portfolio a few that I work with in particular are linear, which is building a modern issues tracking tool mid desk, which is building trust my identity for businesses through API infrastructure ever vault, which is building Dept rules for data privacy and you know amongst a member of

other so at work. I think we're big big partners with everything and SAS there beautiful businesses when you have a defendant a differentiated product and a defensible moat around you and we can't wait to printer with more. Brown hit me with some strategy or old we initially got started in a lot of workplace productivity and tool to remote teams and so early investor in tandem lately. We've been spending a lot of time on Deb friendly infrastructure. And so I have prior to starting the funds.

I have been an early angel investor in webflow and had made a number of Angel investments in the locodoco space and sorry love thinking about what are new technologies that enable anyone to start their own business and what are what are ways to get business off the ground faster. And so one of the interesting things that I think a lot about is in the same way that in a Stephanie thinks across the capital stack. I'm primarily focused on early-stage but I want to say I think broadly across the entire work stock. And so the work sucks for me means everything from internal tools, you

know, HR and culture things that actually make a great place to work and I That's increasingly important when teams are fully distributed. I also think about financing to start your own business. And so a number of Investments have been new forms of financing for traditionally underserved segments on think individuals that want to start their own Shopify store from home, which is increasingly important as people are looking for new ways to make money. I'm an investor in a company called pipe and pipe is a great new financing solution for SAS companies

essentially enabling you to think Beyond venture-capital. We are I always take the opinion that not necessarily to compete with Venture Capital but I think increasingly Founders want more options. And so I view this as part of just a broader democratization that's happening across Venture across, you know, small businesses and now for SAS companies, you can actually Finance your business using a recurring Revenue, which is a really powerful driver. And so I would say broadly, you know through and through thinking thinking about what

our new services and and tools and Technologies for different teams across a tradition workplace. But increasingly while people are at home or in a while we see this greater shift towards people starting a business from anywhere. I do look a lot of s tools for smbs to I never used to charging in a lot of ways you can build on a company that should be added to practice all multiples. I mean is fine for them because they would have been like in times of constructing narraticon tables Yeah, but it's a very very same question. I mean, it's funny. I I

feel that I mean, I think we feel that pain to on our side. And the reason is that would Sequoia were investing a multi-stage at we do that, you know one or we have two separate teams in Charlie. And so the earliest age came and which focuses and everything seed in series a seeping into anything from an idea that you are just a pitch deck and you know part of it companies sometimes even know pitch deck and so there super early and then we have our groceries to add everything series being on Words and so it you don't and then the other thing is that we also

have separate funds that which we partner with different stages. And so I actually think that gives us the forcing function of discipline to to be investing at the right stages and to be disciplined about the The investment rounds and the valuations at each stage, but we definitely feel that pain, you know on on the other side of her seeing multi-stage funds investing that one fun and and you hang a super high prices as well. And so that that is definitely changed in ecosystem. And it's it's definitely more and more

presents and big time sheet for overpriced round. It's so you know, I I think of it as think about what you want to build long-term and what is best for you long term. And you know, I think on one hand it's great from the counter perspective from a dilution perspective if you take a 1 year to year time frame, but there is a you know forcing function of what is reality and at some point we will be back to reality and the business that you've built will have to support whatever valuation you are raising at today.

And so if you think you can grow to that stage fantastic on if not, what is the right healthy long-term view you want to take for this stage thinking through the entirety of your journey over again in 10 to 15 years and there will be many many ups and downs along the way and so you do want to be prepared and and discipline yourself, and I think it's a good filter to Founders to realize that and you have that long-term or interview and are very, you know, I would say RR truth-seeking in what what the where they are at today in terms of stage and

also truth-seeking in terms of the journey that they have going forward and what they want to deal with along the way. Ram radio shows Skype it's an interesting time in the ecosystem. I find broadly, you know, there are more new funds than ever. And so I encourage Founders from day one to think about founder partner and founder firmfit because I think there's a lot of optionality in the ecosystem. What's awesome and and what I respect so much about large platforms like Sequoia is your the fact that they have a large

existing portfolio. No often times your new Investments could be repeat Founders that you back before and so we have a shared investment in Philippians new company and you know Phil had a really long term relationship long-term relationship having started Evernote and now working on something new and you know, so as a as a new VC and as an angel in scaling into a new fund was awesome. Is that the more time you spend with Founders and in the earlier you are in building that relationship the more value can Add and so, you know Harry from

Pine Hill talk about check size to help finish the ratio and so for new angels for operator angels for new firms. We over-deliver on value because they're building a reputation because where we're from day one from idea to that next round. And so what's what's awesome is just hearing directly from Founders how much optionality there is currently in the ecosystem. And so whether you're approaching it at a partner level and you're looking for someone who has backed companies that have you know, it's summer and we're passing through Jax really that you aspire to achieve or you're choosing a

partner that has previously started or Bill or worked at a company that you admire respecting was going to learn alongside. I see more option Aldi in the ecosystem when it comes to the the multi-stage firms in the short-term. I am very much focused on Early-stage and so often times I'm investing prior to a large platform, you know when their option when when is founder would like to work with a multi-stage platform, you know, they're typically are allocations and there's room for us for all of us to collaborate. And so I actually love those

Partnerships. Those are some of my favorite because as a new firm as a seller GP getting plugged into programming community and a large portfolio does present a lot of value for Founders. And so I always encourage teens, you know, both kept co-founders to really think through strategically what are some current gaps are learning opportunities. And how do we complement that with angels on the couch table early on and then also how do you build a sales process? And so you have to really build a pipeline and so part of it is actually driving that strategy meeting with investors

overtime getting to know them, you know doing virtual whiteboarding session. Resume and it's building those relationships to find who is the right fit? I'm typically at you no less concerned with which firm but often times helping Founders who were the right partners and who has the right already experienced it to build a business that you want to go. I'm sure they hate. How do you advise on this in your portfolio actually? Great question. This is where so I would say trust in relationships from the beginning a really important and so often times

I'm investing in precede you no idea of giving enabling Founders to build an MVP and so often times those conversations happen behind the scenes where no potentially early angels can make introductions. I think having sex Airline CEOs on the couch table a really important. So mile pace is primarily sector line CEO CEO of Zoom all of that the large, you know, Cloud companies are part of the work-life network. And so having the ability to ask questions annoying when to meet investors can be really

important. I often times find a especially in this environment as a multi-stage platforms are are coming down a little bit more building that relationship is actually really is really helpful. I think in a lot of ways and specifically SAS Companies are seeing preempted rounds and so building that relationship getting to know someone when it when you're not fundraising. It removes a lot of the pressure. I find that if anything that's when you build trust in relationships rather than walking into a pitch meeting and it becomes more of a transactional dynamic and it's a need for Capital

sometimes building a relationship ahead of time and really getting to know people is a better way to understand what it's like working with them, you know by giving that time in that space and allowing investors to truly help. So making customer introductions spending time on product like getting a real feel for what is the value of add me on Capital because you know, all partners and friends are quite different. I completely agree to that. I think picking your partner. Would your investors in the near future board members at different stages is an incredibly

big commitment that you'll be making a different state law on the way for the next 10 to 15, maybe more years to be building products in building out your business and I'm growing your team is a culture and finally at the same time. I think you want to be super thoughtful of you do want because it is such a big commitment. And so you know what I don't advise talking to a bunch of folks, but I do advise talking to a handful the folks that you think will be tremendously valuable at some point in time. So as branches mentioned, I think a lot of these are built over time where you know you

talk in your brain. Go to market and I think you want to find a partner brandish something else earlier on which was how do you pick your partners or you know a handful of Partners who you think are are going to be deeply invested in your company or business and I think the only way I think one good way of knowing and I'm still praying for that and knowing how they are with them over time. So I'm picking a partner that you know is going to be dealing Bassett Mirror Company and I can be your first phone call whether it's good news or bad news through all the ups and downs all the way. Take me with

you that, how do we feel under devices that track size is awesome PC. Now, how do we think about how do we buy something? What I was going to make one comment cuz where to buy a tactical comment based on the last question as a as a managing director of a new VC fund I now have investors and so I was given a really great piece of advice from one of my mentors. He's been a long time managing director at another firm and he had said, you know, especially as an early-stage firm 20% of your week will always be set set with investors there either your current investors or

your future investors and So tactically speaking, you know, I maintain a list and I I check in with investors and I and I have my own version of that fundraising process that is always on but I highly encourage Founders has been most time on product and then, you know, maybe it's 10:15 20% of your week casually catching up with an Investor's whether it's your current ones that you know pre pre board board member or you know, obviously boards take up a little bit more time, but or or its courting and actually spending time with potential partners for a few. Switching gears to

solo capitalist and I know I am I didn't aspire to be a VC when I was growing up. I grew up in Northeast, Ohio. I'd had never heard a thing about venture capital. I you know when I was in when I was at Expedia working and products and then product managers in particular at 10 to start really spending time and trying other people's products. I have been teaching classes at General Assembly which later I turned back curriculum into SAS school. And so I am I all right towards you know towards my earlier

part of joining zendesk, you know, I started to think about you know, what it would look like to join a firm or to make that transition later in life to doing independent board seats at Angel Investing one of my great mentors. I'm Andre Monday, and she's currently On the board of a sauna and Gusto and in patreon and so I saw firsthand what it's like to have an amazing operating career plus start to build a reputation and known reputation to a later hoverboard seats. It wasn't until a few years ago when Angeles started making

an incredibly easy for individuals like myself to start their own firm that that was even an option and so for for myself and for a lot of the other solo capitalists that have been operators and and were first-time PCS. I I know I believe there are few things that are happening. There's it's never been easier in the same way. It's never been easier to start a startup because of a w ass because of low cost software because of just the capital efficiency of you and starting a SAS company the same is happening in Venture where if you have operating experience, if you're consistently

publishing or recording podcasts are you know building something that attracts Grey Cup I'm the natural progression is to invest in his company's because you're already providing you no advice you're already digging in yard being helpful. And so I'm excited to see you know, the new rise of solo capitalist. I'm curious to see you know, how to what extent solo capillus remain solo and continue investing into their own name at or to what extent are there individuals that aspire to build an institution. And so I think that's the question. I I typically have four other solo capitalist

has is this a a great way for you to spend time with companies, you know build a personal brand build your own personal portfolio, but that will always be under your name or are you is a long-term goal to build the next Benchmark sequoia or enduring institution. And so it's still very early, but I think it's great to see to what extent solo capitalist can write flexible Small Checks as that, you know, 5800 K entry check. Scaling into solo capitalists that are writing series a series B level checks. Stephanie I think it's

ending in the investing ecosystem for sure and is in cycle, right? And you know that many of the most wonderful fellow calculus both of you included. I think this is the next era of having a proven yourselves as an angel prior to that and so I do think that this is a next inning and Brienne what brand looted to it'll be in to see what the next inning of this is and whether you know, these funds will will remain solar GPS or whether these funds will potentially merge their Partners will merge and and build more of an Institutional multi-state round over and over time and I think

that'll be a shame to see what happens over the course of you know, a number of years in a number of different funds I think. I'm from a kind of perspective. I I think it you know, I actually think it it comes down to just one simple question still which is it doesn't matter if it's a it doesn't matter if it's you know, an angel or Estilo capitalist find or a an Institutional fun. It really comes down still to picking your handful of Partners and figuring out figuring out and exploring doing the diligence to figure out how and where and at one point in time very spokes can

can be super helpful to your business. And now I think I'm taking a very very long-term oriented view on that and and putting yourself in the shoes of 5 to 10 years from now, you know, who are the who are your starting five folks who are going to be your first phone call down the road. So I'm excited and build up that ecosystem. We've been very very collaborative with both of Dennis well with many others and I'm in the ecosystem. I'm excited to a work together on more as this ecosystem Bros

t building that relationship of trust and intimacy why you all are fine. Well, I think you know once you get started working together, you're in it together, you know through through many of the ups and downs and and and through both the expected predictable as well as the unexpected and you know, I think there's there's there would be few ways that we we look at it. There's the structure, you know company building aspects some of that is specific and 1 and

1/2 your company. And so, you know with all of our companies including seed-stage free people get companies. We're meeting with them on a regular monthly basis as almost training wheels for 4-in a real real board meetings r&n as a way for us kind of dive in and help with both the Strategic decisions that you'll make, you know things like what is the one most important decision you'll make in in this year. And what is that one most important thing to get rich? As well as the more tactical around hiring and and a product and go to market and then

there's also what are some of our new programs that we're putting together at Sequoia where we we bring together 10 of our company's existing portfolio companies to work together and learn in a structured, you know. Yes, you can build a business. How do you build a good business how you build a great business? And how do you build a lasting business? And so there's a lot of structure content there and then I would say it's the Aldi in between late-night phone calls weekend phone calls that you get which

are sometimes you know, it's super exciting and fun and it's an interesting new partnership that you're thinking about its new product idea an awesome higher that you're making and you want help closing or Earth to something you want some feedback on and sometimes it's the totally unexpected right? It's the thought your product markets bed, but something's changed in the ecosystem. And so what do you do now? You thought you had the tire but the scam of it but someone's potential he or she's getting hired away. It's things like, you know, the unexpected what's what happens inside the

building that that you would never hope to happen and it's being there. Every step of the way and I'm figuring out one how to tactically navigate through that and to offering the support and help that that folks need through it. You know, I think Sequoia likes to joke that through all the ups and downs of the highest were your sparring partner. And so when when everyone's cheerleading you want will be there to cheer lead you want will also be there to help figure out the next corner and that's for the sparring partner peace comes in and then

at Lowe's were there to kind of help soften that blow and to help figure out who to navigate to this who might have gone through it themselves prior Mage books in her portfolio likely have gone through that and also what are the mistakes that other folks have made along the way they can help that you can avoid if possible. So, it's really just being there for the good in the bad and and being and younes supportive and then being know in their corner for for the entirety of the journey. Yeah, it's so pretty covered in Post

cover. It's a little bit of a different strategy prior to covid-19. That's like my my version of you know, finding companies early. It's really figure out who is most likely to start something or who are the early Builders of high-growth companies that are most likely to start something. That's the first thing the second thing is is I would say, you know, especially today what's interesting is that investors are quite readily available. You know, now that we remove the commute now that we're not

having, you know, long dinners with portfolio companies and I just feel like the new normal for investors is actually quite different and so I find having unstructured time throughout the week for more ad hoc working sessions that people are get with with you. No small teams that are getting ready to start something or small teams that have a proof-of-concept is really important, you know, where you've done this better than anyone I know but also, you know having a reason for founders of talk to you. I think the fact that you've built this amazing platform. Founders are excited to join the

podcast or you know Founders are excited to learn about different investors. You know, what I was just getting started in Sinking through the core mechanics of building work lies and whether or not I wanted to operate under my own name or building institution. A lot of these questions that I was thinking through it was so helpful to have the podcast as a resource because you know, I myself was a new DC and so learning from other people Styles and sort of adopting accordingly. But then also, you know finding my own style has it's been really helpful and staying to make

us money speaks people that I do and then I just got to record it and make money from a little bit. I'm actually going to you in a while I can see we've questions come in and so I'm relying on you to help me on Q&A is coming in. The investor cross between BC Bragg's this week on Twitter and asphalt add-ons NV seasonal they like what are you feeling vulnerable or challenged by right now? And yeah. Sorry that's already out there. And it's specially when your partner would companies at the earliest stages, even when it's just an idea and Umbreon

Mansion having lunch with Uber and Airbnb headquarters just to meet folks who are starting to think about leaving their jobs and thinking about taking the leap uniting the challenge in in a time where more and more people are starting companies in ever especially when we're all remote. And so, you know, it's not exactly a physical location epicenter anymore. You have no idea where the next company or interesting founder is going to emerge and you know, they're they're kind of like little nooks and crannies in the zoom universe and and you just have to

do you have to put yourself out there and have to magically meat or learn about something that's interesting and and you know, I think the Waterfront of companies that are being star Today is is higher in the larger than ever. There are more and more ways to put yourself out there and and and Brandon Harry both mentioned in a very sings round building a brand and creating content that allows people to build a magnet that helps you build a magnet for other people to come to you. And so, you know, I think it's it's just an

interesting challenge of it's it's no longer the days of I think what Venture was probably 30 years ago when you had both fewer entrepreneurs, and also if you were in the world looks completely different and in that case is just accelerating like okay that is a creative idea. What is definitely thought about it and I think we think a lot about I mean creating content for 4. All forms of topics as well as formats of Sequoia and I think we've always been always been you know,

we are part of the Sequoia brand. So I think unlike other firms where everyone creates their own individual brand, you know, we've we stuck to more of the feed the Sequoia tree and you know be a part of beat represent that platform in that firm which as you know, which I would but I've also loved and so I definitely wish regardless but you know what I had the time and and I could create content I think both of you guys are leading the way on that. Brown really interesting points. I feel like in a lot of ways, you know Venture

is as all about decision making and so apart huge part of decision-making is knowing when to say no to something and went to lean into something and so I think about this a lot. I would say prior to starting the firm. I was tweeting writing joining a lot of you know podcast and having more conversations more regularly. Now that I'm the managing director of a new firm the opportunity cost for me is what I rather write a blog post that can be fairly self-serving or would I rather get together and do something that supports than the entire portfolio and so I've been spending a lot more

time on programming on back office and actually building out systems and processes and you know differentiated program to ensure that you know, portfolio companies across the portfolio have an immediate answer the questions. They have a great great. Lationships, and there's sort of a cohesive nature across Entire portfolio because it is primarily sauce because it is primarily on season series day. And so I think about that a lot where the one thing that I have learned and I deeply appreciate about you know, the craft Venture Capital which you know, historically has been a little bit

more of a cottage industry. There hasn't been a lot of writing about it, you know, the actual like core mechanics of a lot of this is as it has been largely quite quiet in MN confidential behind the scenes and so a personal brand it is one way to attract companies. I also find that you know that that some of the best introductions and some of my strongest relationships have just been one to one email intros or you know, spending doing one helpful thing for one portfolio company that leads to them feeling comfortable and confident and introducing

their friends who are also starting companies. And so I think there's a lot of different styles when it comes when it comes to venture and no broadly speaking. I think having a personal brand is great. It is a way to get discovered. It's you know, if you're an operator and you want to build a lot of expertise around a specific skill-set were or sector. I think I didn't writing is a great way to do that. I highly encourage yet. I'm also increasingly excited by the fact that there's even more optionality with you. No tipping on GitHub. I actively tip and support a lot of projects but I

discover they're not quite ready for Venture Capital think they may not be compatible with the work-life model but I think tipping Developers for the things that they're building is a really valuable way to support the broader ecosystem. I also feel the same way about Patron for creators when I discover a Creator or hear a podcast or you know, learn from a piece of content. I do believe that there are many ways. You can actually pay it forward in that can actually help someone scale from a hobby into something that come that becomes a more substantial career or wait for them to make

money. Totally tell me do we have a question each cuz we're running low on time. Is that any questions you want to slash? Bailando I've been trying to answer you but they come in live and there's so many. Is that one you want a cheese? Brandy want to take one. What's the most common mistake that you've seen Founders make which limits our ability to scale and grow. Harry's you want to go first. I'll turn it around to you Chris Pizza Butt Lodge multi-stage funds.

I know we were raising funds you told us we should we get Steve moved out of our comfort zone. So, you know, it's alright, it's still going to be frost and then they deliver around like what you're trying to raise do not get high on your own Supply on anyone else telling me that you can raise more you should raise more unless they put a timesheet down. And that's something to consider. You just be very disappointed in your mindset around like what you want to raise build build a school team. Everyone has

a position. I'm not going to help you improve. Shaughnessy Jeff Morris Jr. And Gina Wilson all them for them. People are much better than me, but I will help you on staying in a continent and roll featuring Busta on. Just be very disciplined around that what you're wanting to race Yeah, Ashley as the first money an investor as a firm that invest in many first-time Founders scale is a really interesting. It's a really interesting. They're their problems behind the scenes that remove that remove your ability to scale. And so this thing that I encourage

Founders to do a lot is be open and transparent about highlights low. That's where you're spending your time. And where you're going to block. I think that often times especially if you're a first-time founder there is there's a desire to build everything and there's a desire to be like have your hands and everything is happening across the company. I find often times knowing who to hire when is really critical and also hiring individuals that you trust to to own with a lot of influence and Authority for their crap because I find at the end of the day that the gray

paint one of my favorite Parts about really good company building is hiring great people and so your ability to know who to hire when to actually enable the company to scale is really critical. I find especially in recent months and this is something I'm seeing consistently in and hearing Broadway Across the ecosystem as we also have to get comfortable with hiring people fully remotely. And so that can actually be really challenging for first-time Founders when it's your idea when you've gone out to raise, you know that first round of funding Please start hiring people onboarding them

in and bringing them on a team in a fully remote world is a lot of work. And so I highly encourage this is an area where investors can be really helpful and terms of Designing with the org should look like thoughtfully, you know curating and going through individuals and their Network and especially during shelter in place. And in this extended. Of working from home Oscar investors to jump on closing calls, I do 10 to 15 closing cost per week. I like to talk to individual hires. I like to say hello give them my vote of confidence and why I invested in the company and more

importantly, I love connecting them with mentors across the portfolio or across the broader work like that work. I think that hiring is increasingly hard, especially at the earliest age and now increasingly when we're at home as well. I think it requires a very different muscle and so I highly encourage Founders to take her seriously because those decisions are really business-critical and that will enable you to scale much faster than anticipate. I agree with what Brianna he already shared hiring is super key and the earliest age is

incredibly important and I do the second thing is really about prioritizing what to build and having enough focus and I think that's where you know, your your partner and investors can help because they're close enough to the product in the business, but they're also wants to go away and not just some can also provide some valuable. All righty team mode on this is been so much fun. Thank you so much. Thank you for letting me Pappy was questions that one on the schedule it to thank you guys so much for

coming. We appreciated it. Have a good one.

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