Park Rangers Capital

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·16h

Ann Miura-Ko says even experienced investors can become overly optimistic about the companies they back. That's why Floodgate starts formally reviewing every investment six months after making it. The team constantly challenges its own assumptions, debates each company's progress, and even relies on an outside investor to provide an objective perspective. Ann explains the process they use to keep themselves accountable: “We start evaluating companies 6 months after we invest” “We are constantly at each stage looking at our excitement level and what we’re seeing and why” “And we’ll actually debate this quite a bit internally so we can give our partner Iris a crystal clear picture” “She’s underwriting it from an external perspective as well” “She wants to get a 5x return” “The problem is Mike and I tend to be extraordinarily excited by our companies regardless of performance” “This was our problem with not having an external investor who can hold us accountable for that” “And so Iris will come in and say from an investment point of view here’s what I'm seeing…” “For each company we’re really developing a case by case basis” “There have even been times where Iris will turn to me and say I know why you’re excited by this business” “But given our mandate this is not investable” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·1d

Ann Miura-Ko says smaller venture funds have one advantage most people never think about. When one of their investments starts taking off, Floodgate has far more flexibility than larger firms. If Floodgate sells part of its position, it's not seen the same way as when a multi-stage fund does. Ann explains why being a small fund can actually become an advantage after backing a big winner: “For a lot of folks a billion dollar outcome just doesn’t even start to matter” “Which is crazy if you think about it” “Our exits we have a lot more optionality” “We can even participate in secondaries too” “If Floodgate sells some portion of our investment that’s not seen as big a deal as if one of the multi-stage actually starts to sell their position” “Often times we’re actually asked to sell some part because the multi-stage can’t have as much ownership as they need to” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·2d

Did Ann Miura-Ko really make a 10,000x return on Lyft? Ann Miura-Ko says every venture capitalist is looking for a company that can return the entire fund. For Floodgate, Lyft was one of those companies. They invested when Lyft was valued at just $5 million, sold some shares along the way, and sold more at the IPO. Ann explains why Lyft became a multiple fund returner: “You’re always looking for a multiple fund returner and that was definitely a multiple fund returner.” “We got in at a $5 million dollar valuation.” “We sold a little bit along the way actually at a price that was even higher than it is today.” “We were able to get a good chunk out and then at the IPO as well.” “I can’t give you the exact returns but it was a multiple fund returner just on its own.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·3d

How the Uber vs. Lyft rivalry actually started: Ann says Uber and Lyft weren't originally competing for the same market. Uber began as a premium black car service. Lyft had a completely different vision: making it feel like you were getting picked up by a friend. That changed once Uber realized Lyft was building something much bigger than anyone expected. Ann on how one of Silicon Valley's most iconic startup rivalries began: “Uber's tagline was ‘ride like a baller.” “They were fancy, only black car services.” “And so there was a debate internally whether Uber would come after this peer-to-peer funky space.” “Lyft in the beginning you put this huge furry pink moustache at the front of your car.” “The riders would get into the front seat and fist bump the driver because it was supposed to be like your friend was coming to pick you up.” “They were very different from the Uber experience.” “Within 6 months Uber realized that this was going to be a thing.” “Travis went to all the different cities we had launched in and said if you don’t shut this down we’re also going to launch our own service.” “When he realized the cities were not going to shut it down he just went live with his own service as well.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·4d

The investment that became Twitch: Ann says one of the biggest lessons she's learned from early-stage investing is that you can never fully predict what consumers will love. When Justin.tv split into two companies, Ann thought Socialcam had the bigger opportunity. The other company was Twitch. She says moments like that are a reminder that even experienced investors can't predict which ideas consumers will ultimately embrace. Ann on the lesson Twitch taught her about investing: “Mike invested into JustinTV.” “It was an app to livestream Justin Kan’s life.” “He had this contraption on his head where he could video his point of view and live stream it.” “It was a really weird idea.” “I remember going to meet with Michael Seibel and Michael told us that the company was splitting into two.” “One was called Twitch and it was going to enable people to watch other people who live stream gaming.” “The other one was called Social Cam.” “I remember leaving that meeting and turning to Mike and saying, ‘I’m really glad we have Socialcam because who’s gonna watch another person game?’” “And I remember when I heard how big Twitch was becoming, I was like, ‘Well I’ll be darned, I cannot predict what consumers like.’” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·5d

Ann Miura-Ko on why she loves teaching: Ann says the classroom is one of the few places where you get to see people in their most authentic form. As a student, the questions you ask, the way you challenge ideas, and whether you're willing to change your mind reveal far more than what you already know. She says teaching gives her a front-row seat to who seeks the truth, who wrestles with difficult ideas, and who is genuinely curious. Ann on what teaching has taught her about exceptional people: “I engage a lot in teaching.” “You get to see someone in their most raw form when they’re a student.” “As a student you start to see elements of who is actually a truth seeker.” “How do they engage with information, how do they wrestle with it, how do they change their minds?” “Those are all things I’m looking at to see how curious a person is.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Erica Wenger@Erica_Wenger·6d

Ann Miura-Ko on what separates visionaries from everyone else: Ann says great founders aren't just building products. They're building movements. Having a vision for the future isn't enough. The hardest part is convincing other people to believe in that future and help bring it to life. That's why, when she invests, she's looking far beyond the product. She's looking for founders who can convince other people to help build the future they already see. Ann on what she really looks for in a founder: “When we’re looking at an investment we’re not just looking at a product or a single founder.” “We are looking at their ability to recruit and build a great company.” “My partner Mike likes to say we’re investing in time travelers.” “They’re sitting in the future and they time travelled back to today to try to get us to help them bend the curve of the future to where they see the future should be.” “In order to get there they have to convince a mass group of people to come along with them and that’s the movement they’re creating.” “A founder, if they can’t create a movement, they’re just seeing the future.” “You can say they’re not a visionary, they’re just having visions.” “Some people feel like leadership has to look a certain way.” “I think a lot of it is dependent on what are you trying to accomplish and who do you need in order to bring that vision to life.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·6d

My conversation with Ann Miura-Ko (@annimaniac). Ann Miura-Ko is the Co-Founding Partner of Floodgate, one of Silicon Valley's leading early-stage venture capital firms. She was one of the earliest investors in companies like Lyft, Twitch, Twitter, and Okta, and has spent nearly two decades investing in founders at the earliest stages of company building. In this episode we discuss: - The investment that became Twitch - The early rivalry between Uber and Lyft - Why Ann believes the best entrepreneurs are truth seekers - How teaching reveals curiosity and character - The future of AI-pilled organizations Enjoy! Timestamps: 0:00 Intro 0:41 The AI Pilled Organization 6:09 The Biggest Barrier to AI Adoption 8:41 The Rise of the Non-Technical Founders 10:32 How To Find Super-Thinkers 12:30 Why Ann Loves Teaching 13:36 Stanford Mayfield Program 16:25 Getting Pitched By A 14-Year-Old 18:52 Different Types Of Leadership 23:29 Early Investment In Twitter 24:42 Why Twitch Never Should Have Worked 27:01 Ann’s 10,000x Return From Lyft Investment 30:00 Inside the Uber vs. Lyft Rivalry 33:25 Ann’s Investment Philosophy 35:52 Investing In Lyft At $5M Valuation 39:10 Staying Disciplined On Fund Size 47:49 Evaluating Companies After The Investment 51:29 Ann’s Partnership With Mike Maples 1:03:27 Rapid Fire Questions

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Erica Wenger@Erica_Wenger·13 Tem

How Mark Cuban is saving lives: Mark says strangers will walk up to him, hug him, or even break down crying. Many of those stories have one thing in common: people who finally found a way to afford the medication they needed. He built Cost Plus Drugs around a simple idea: charge what the medicine costs, add a fixed 15% markup, and make life-saving drugs affordable for the people who need them. Mark believes too many healthcare companies have become so large that they've lost sight of the people they're supposed to serve. Mark on why he started Cost Plus Drugs: “People will walk up to me on the street and hug me or start crying.” “This guy said ‘my dad has cancer and didn’t want to saddle us with credit card debt so he decided not to take his medications anymore.’” “But then we went to Cost Plus Drugs and instead of being $903 that we can’t afford, it was $43 which we could afford.” “We’ll show you our actual cost and we’ll show you our markup which is always 15%.” “The biggest insurance company does $160 billion dollars.” “They game the whole system they’re too big to care.” “Trust equals transparency divided by self interest.” “On my tombstone in 50 years if they say he f*cked up health care, I’ll be smiling.” Mark Cuban: Stay Curious Or Stay Broke via Trailblazers Podcast

My conversation with Mark Cuban @mcuban . Mark went from sleeping on the floor of a three-bedroom apartment with five roommates to selling Broadcast.com for $5.7 billion and building a fortune worth over $6 billion. Over the last three decades, he's founded, acquired, and invested in hundreds of businesses while becoming one of the most recognizable entrepreneurs in America. In this episode we discuss: - Should entrepreneurs go to college? - Mark’s biggest professional challenge - The foundations of success - How ego can hold founders back - How AI is reshaping education and business - Mark's advice for ambitious 20-year-olds Enjoy! Timestamps: 0:00 Intro 1:25 Mark Cuban’s Biggest Professional Challenge 4:14 Should Entrepreneurs Go To School? 7:26 How AI Is Impacting Education 14:26 Why Women Athletes Make Great CEO’s 15:40 Clavicular Getting Frame Mogged By ASU Frat Leader 16:44 When To Start A Company 20:59 AI Slop 26:08 The Dark Side Of AI 29:19 How Mark Cuban Is Fighting Big Pharma 33:03 Rich People Always Fail In Healthcare 37:23 Business Changes The World More Than Politics 44:57 Mark Cuban’s Advice For 20 Year Olds 53:46 Tech Wars 1:01:15 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·12 Tem

Kate McAndrew on how great companies outlive their founders: Kate says the strongest institutions are never built around one person. They're built around a shared set of values, beliefs, and principles that every generation of leaders genuinely embodies. That's what allows a company to survive long after the founder steps away. Kate on the key to building a company that outlives you: “I don’t believe great institutions are a wrap around a person.” “I think great institutions are a wrap around a set of values and ideals and beliefs.” “Hopefully the people who are in that institution, those things are authentic to them.” “And that’s actually how the great longitudinal firms are built.” “If you think about institutions that are really long lasting, they’re about much more than one identity.” “The identity is just one instantiation of the greater belief and then hopefully how that is embodied is passed down.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

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Erica Wenger@Erica_Wenger·11 Tem

Kate McAndrew on where she's looking to make her next investment: Kate says one of the areas she's spending the most time thinking about is the post-phone era. She's particularly interested in two themes. The rise of analog consumer hardware. And sovereign devices built for a generation that's becoming increasingly uncomfortable with AI models having access to their personal data. Kate on where she thinks the next great consumer companies will be built: “I’m very curious about the post phone era” “I’m spending a lot of time looking at the rise of analogs” “I think that’s really the millennial parents buying for the child where they’re realizing the phone isn’t good for the goods and need an alternative” “I also think there’s another piece of that that’s more sovereign computing” “So Gen Z being scared of AI and not wanting their data to be exposed to AI models” “There’s something going on for me in these sovereign devices” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

My conversation with Kate McAndrew (@katepmcandrew). Kate McAndrew is the Co-Founder and General Partner of Baukunst, a $100 million pre-seed venture fund that backs founders at the earliest stages of company building. Over the past decade, she has invested in more than 100 pre-seed companies, giving her a front-row seat to what separates exceptional founders from everyone else. In this episode we discuss: - What makes a startup worth investing in - How investors actually evaluate founders - How to spot an exceptional entrepreneur - The secret to building institutions that outlive you - Kate's unconventional path into venture capital - The investing philosophy behind a $100M fund Enjoy! Timestamps: 0:00 Intro 1:37 Kate’s Biggest Struggle 3:55 How Going To An All-Girls School Impacted Kate's Life 8:38 What Going To An All-Girls School Is Actually Like 11:21 How Kate Thinks About Investing 12:41 What Makes A Great Founder 14:23 How Companies Survive 100+ Years 17:14 Kate’s Unconventional Path To VC 23:15 The Philosophy Of Building A Great Company 27:54 How Kate Got Her First Job In VC 30:04 Kate’s Best Advice For Entrepreneurs 33:29 What Makes A Brand’s Identity 36:49 Why Kate Makes Content 43:30 The Purpose Behind Baukunst 48:04 How Baukunst Operates Internally 52:34 What Kate’s Most Excited To Invest In 54:57 Every VC Hates A Creator Business 58:04 The Value Of Creator Businesses 59:37 Rapid Fire Questions

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Erica Wenger@Erica_Wenger·10 Tem

Kate McAndrew's advice for young founders: She says the best relationships aren't built by filling your calendar with one-on-ones. They're built by creating experiences that people actually want to be part of. Some of her strongest connections came from throwing parties, organizing raves, and bringing interesting people together in the same room. Kate on why the best networking rarely feels like networking: “I just want to do a plug for young people in San Francisco.” “Y’all need to go have some fun.” “We weren’t just having coffee meetings, we were partying.” “We were partying together. We were throwing crazy raves with weird pop-up pools that were going until 6 in the morning in the middle of this warehouse.” “We were having fun.” “Being in the mix and having fun, you connect with people. It’s natural and organic.” “People need to get out of this coffee meeting death march.” “Go have a good time.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

My conversation with Kate McAndrew (@katepmcandrew). Kate McAndrew is the Co-Founder and General Partner of Baukunst, a $100 million pre-seed venture fund that backs founders at the earliest stages of company building. Over the past decade, she has invested in more than 100 pre-seed companies, giving her a front-row seat to what separates exceptional founders from everyone else. In this episode we discuss: - What makes a startup worth investing in - How investors actually evaluate founders - How to spot an exceptional entrepreneur - The secret to building institutions that outlive you - Kate's unconventional path into venture capital - The investing philosophy behind a $100M fund Enjoy! Timestamps: 0:00 Intro 1:37 Kate’s Biggest Struggle 3:55 How Going To An All-Girls School Impacted Kate's Life 8:38 What Going To An All-Girls School Is Actually Like 11:21 How Kate Thinks About Investing 12:41 What Makes A Great Founder 14:23 How Companies Survive 100+ Years 17:14 Kate’s Unconventional Path To VC 23:15 The Philosophy Of Building A Great Company 27:54 How Kate Got Her First Job In VC 30:04 Kate’s Best Advice For Entrepreneurs 33:29 What Makes A Brand’s Identity 36:49 Why Kate Makes Content 43:30 The Purpose Behind Baukunst 48:04 How Baukunst Operates Internally 52:34 What Kate’s Most Excited To Invest In 54:57 Every VC Hates A Creator Business 58:04 The Value Of Creator Businesses 59:37 Rapid Fire Questions

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Erica Wenger@Erica_Wenger·9 Tem

Kate McAndrew on what a brand actually is: Most people think a brand is something you control. Kate sees it differently. She says your brand is the reputation you earn through your actions, not the image you try to project. The way you treat people, whether you show up on time, and whether you consistently do what you say all shape how people talk about you when you're not in the room. Especially in venture capital, where relationships compound over decades, your reputation becomes your brand. Kate on why your reputation is your greatest asset: “A brand is what people say about you.” “I can say what I want my brand to be, but my brand is what you think about me.” “It’s not just what you do, it’s how you do it.” “Especially in this business, which is very small, people talk.” “If you come to a dinner of mine and you’re unkind to people, you’re not coming back.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

My conversation with Kate McAndrew (@katepmcandrew). Kate McAndrew is the Co-Founder and General Partner of Baukunst, a $100 million pre-seed venture fund that backs founders at the earliest stages of company building. Over the past decade, she has invested in more than 100 pre-seed companies, giving her a front-row seat to what separates exceptional founders from everyone else. In this episode we discuss: - What makes a startup worth investing in - How investors actually evaluate founders - How to spot an exceptional entrepreneur - The secret to building institutions that outlive you - Kate's unconventional path into venture capital - The investing philosophy behind a $100M fund Enjoy! Timestamps: 0:00 Intro 1:37 Kate’s Biggest Struggle 3:55 How Going To An All-Girls School Impacted Kate's Life 8:38 What Going To An All-Girls School Is Actually Like 11:21 How Kate Thinks About Investing 12:41 What Makes A Great Founder 14:23 How Companies Survive 100+ Years 17:14 Kate’s Unconventional Path To VC 23:15 The Philosophy Of Building A Great Company 27:54 How Kate Got Her First Job In VC 30:04 Kate’s Best Advice For Entrepreneurs 33:29 What Makes A Brand’s Identity 36:49 Why Kate Makes Content 43:30 The Purpose Behind Baukunst 48:04 How Baukunst Operates Internally 52:34 What Kate’s Most Excited To Invest In 54:57 Every VC Hates A Creator Business 58:04 The Value Of Creator Businesses 59:37 Rapid Fire Questions

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Erica Wenger@Erica_Wenger·9 Tem

Kate McAndrew on how an all-girls school changed her life: Kate says the biggest lesson she took away wasn't a subject or a skill. It was learning how to think. When she got to college, she realized many students had been taught what to think, but not how to think critically or communicate their ideas. She says that mindset has stayed with her throughout her career. Kate on the lesson that shaped the way she thinks: “In English class we always sat in a circle.” “We sat in a circle because the mode was discussion.” “The mode was not ‘What is the right answer?’ The mode was ‘What is the right question?’” “How do we go deeper into our own original thought?” “In 9th grade we learned to write a paragraph and our homework was to rewrite sentence after sentence.” “There was great care and specificity with the depth of a given practice.” “I remember going to college. I went to a very good school and I was just shocked that nobody could write.” “What I realized is they were teaching me how to think.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

Kate McAndrew on why the best investors ignore what's hot: Kate says by the time everyone is talking about a trend, you're already looking at the harvest instead of the planting. Pre-seed investing means trying to understand what the world could look like 10 to 15 years from now, not what's popular today. She says great investors don't start by trying to be different. They start by trying to understand what is fundamentally true. Kate on why great investors think differently: “You can’t invest in what’s hot.” “What’s hot is about the harvest, not about the planting.” “With pre-seed, you’re investing 10–15 years ahead of the harvest.” “So if you’re focused on what’s hot in the harvest, you’re already behind.” “Thinking about yourself as non-consensus is not helpful.” “Thinking from first principles is what gets you there.” “Really going deep into that and asking, ‘What’s the original thought?” “So that’s how I approach investing.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·8 Tem

Kate McAndrew on why the best investors ignore what's hot: Kate says by the time everyone is talking about a trend, you're already looking at the harvest instead of the planting. Pre-seed investing means trying to understand what the world could look like 10 to 15 years from now, not what's popular today. She says great investors don't start by trying to be different. They start by trying to understand what is fundamentally true. Kate on why great investors think differently: “You can’t invest in what’s hot.” “What’s hot is about the harvest, not about the planting.” “With pre-seed, you’re investing 10–15 years ahead of the harvest.” “So if you’re focused on what’s hot in the harvest, you’re already behind.” “Thinking about yourself as non-consensus is not helpful.” “Thinking from first principles is what gets you there.” “Really going deep into that and asking, ‘What’s the original thought?” “So that’s how I approach investing.” Kate McAndrew: Inside The Mind Of A $100M Investor via Trailblazers Podcast

My conversation with Kate McAndrew (@katepmcandrew). Kate McAndrew is the Co-Founder and General Partner of Baukunst, a $100 million pre-seed venture fund that backs founders at the earliest stages of company building. Over the past decade, she has invested in more than 100 pre-seed companies, giving her a front-row seat to what separates exceptional founders from everyone else. In this episode we discuss: - What makes a startup worth investing in - How investors actually evaluate founders - How to spot an exceptional entrepreneur - The secret to building institutions that outlive you - Kate's unconventional path into venture capital - The investing philosophy behind a $100M fund Enjoy! Timestamps: 0:00 Intro 1:37 Kate’s Biggest Struggle 3:55 How Going To An All-Girls School Impacted Kate's Life 8:38 What Going To An All-Girls School Is Actually Like 11:21 How Kate Thinks About Investing 12:41 What Makes A Great Founder 14:23 How Companies Survive 100+ Years 17:14 Kate’s Unconventional Path To VC 23:15 The Philosophy Of Building A Great Company 27:54 How Kate Got Her First Job In VC 30:04 Kate’s Best Advice For Entrepreneurs 33:29 What Makes A Brand’s Identity 36:49 Why Kate Makes Content 43:30 The Purpose Behind Baukunst 48:04 How Baukunst Operates Internally 52:34 What Kate’s Most Excited To Invest In 54:57 Every VC Hates A Creator Business 58:04 The Value Of Creator Businesses 59:37 Rapid Fire Questions

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·8 Tem

Sneak peek of my brand new @ParkRangersCap office! 🌳🌴🌲

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·8 Tem

My conversation with Kate McAndrew (@katepmcandrew). Kate McAndrew is the Co-Founder and General Partner of Baukunst, a $100 million pre-seed venture fund that backs founders at the earliest stages of company building. Over the past decade, she has invested in more than 100 pre-seed companies, giving her a front-row seat to what separates exceptional founders from everyone else. In this episode we discuss: - What makes a startup worth investing in - How investors actually evaluate founders - How to spot an exceptional entrepreneur - The secret to building institutions that outlive you - Kate's unconventional path into venture capital - The investing philosophy behind a $100M fund Enjoy! Timestamps: 0:00 Intro 1:37 Kate’s Biggest Struggle 3:55 How Going To An All-Girls School Impacted Kate's Life 8:38 What Going To An All-Girls School Is Actually Like 11:21 How Kate Thinks About Investing 12:41 What Makes A Great Founder 14:23 How Companies Survive 100+ Years 17:14 Kate’s Unconventional Path To VC 23:15 The Philosophy Of Building A Great Company 27:54 How Kate Got Her First Job In VC 30:04 Kate’s Best Advice For Entrepreneurs 33:29 What Makes A Brand’s Identity 36:49 Why Kate Makes Content 43:30 The Purpose Behind Baukunst 48:04 How Baukunst Operates Internally 52:34 What Kate’s Most Excited To Invest In 54:57 Every VC Hates A Creator Business 58:04 The Value Of Creator Businesses 59:37 Rapid Fire Questions

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Park Rangers Capital retweetledi

Carolyn Rogers@carolynrogers·8 Tem

@RAnSacks Erica at @ParkRangersCap

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Park Rangers Capital retweetledi

Erica Wenger@Erica_Wenger·6 Tem

Nas Daily on the cost of being cancelled: Nas says sharing his views on the Israel–Palestine conflict came with a price. He knew speaking publicly would bring years of criticism, but he chose to say what he believed anyway. Looking back, he compares that kind of decision to building a company. Both require accepting years of pain in pursuit of something you believe is worth it. Nas on the personal cost of speaking publicly about one of the world's most divisive issues: “I really believe we’re equally indigenous and Israel is here to stay and Palestinians are here to stay.” “The Jews are incredible humans and Palestinians are too.” “And Palestinians do need to be more moderate, and that’s where the next 5 years is going to be.” “I will take the pain for the next 5 years.” “Every founder is essentially doing the same thing. ‘I’ll take the pain for the next 10 years and build this company. Hopefully, the outcome will be an exit after 10 years.’” “The safest time in the world for Israel is today, and the safest time for Palestinians is also today.” “We are living through the safest time for Lebanese, Egyptians, Israelis, and Palestinians.” “I feel like we are at peace.” Nas Daily: The Internet Tried To Cancel Me via Trailblazers Podcast

My conversation with Nas Daily (@nasdaily). Nas built one of the largest educational media brands in the world, reaching more than 70 million people across social media before risking everything by pivoting his content to AI. Today, he runs a global media company with more than 100 employees while continuing to experiment with how technology is reshaping storytelling. In this episode we discuss: - Why Nas risked everything to go all-in on AI - How AI content outperformed his real videos - How he built and manages a team of 100+ employees - The mission behind Nas Daily - The gamble that got him into Harvard - His perspective on the Israel-Palestine conflict Enjoy! Timestamps: 0:00 Intro 1:45 Nas Is Very Opinionated 4:40 How To Actually Create Company Culture 5:56 Nas Hasn’t Changed His T-Shirt In 9 Years 8:40 Asking People Their Net Worth Should Be Normal 9:21 How Nas Chooses What Products To Build 13:52 Why Justin Bieber’s Business Failed 16:09 Predicting What Type Of Founders Will Be Successful 17:13 How Nas Daily Hires Employees 18:05 Why AI Agencies Suck 21:16 The Biggest Risk Nas Daily Ever Took 24:10 How Nas Daily Closed Series A Investment 29:31 The Passing Of Zaki Djemal 32:40 The Importance Of Believing In Yourself 36:20 Why Nas Boycott YouTube For 2 Years 38:37 Discussing The Israel-Palestine Conflict 49:04 Growing Up In Israel 51:08 How Nas Ended Up Going To Harvard 52:43 North Korea Vs Israel 54:47 Rapid Fire Questions

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