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Amazon.com

Amazon.com

2022-08-1604:23:44

Amazon. No company has impacted the internet — and all of modern life — more than this one. We’ve waited seven years to do this episode, and are so, so excited to finally dive into every nook and cranny of this legendary company. And of course because we’re Acquired and this is Amazon, we couldn’t contain it all to just one episode… even a 4+ hour one! So today we focus on Amazon.com the retail business, and we’ll have another full episode on AWS coming soon. And because all great series are trilogies, to fully understand Amazon we highly recommend starting first with our previous episode on Walmart, which truly is the giant’s shoulder that Jeff Bezos stood upon. Let’s go!! If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 11, Fundrise! If you’re considering raising a growth round of capital in the next year, you should definitely explore raising some of it with the Fundrise Innovation Fund. Just email notvc@fundrise.com, and tell them Ben & David sent you. And if you’re an individual looking for exposure to private growth-stage technology companies, you can invest in the Innovation Fund here. Thank you as well to Pilot and NZS Capital! You can register for the NZS Talkback here. Links: Jeff’s first public Amazon interview Our early-Acquired-days interview with Tom Alberg Episode sources Carve Outs: Rick Rubin on the Lex Fridman Podcast Ursula Le Guin Dissect Season 2 on My Beautiful Dark Twisted Fantasy Elden Ring (again) ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Walmart

Walmart

2022-07-1903:05:122

We kick off Season 11 with the incredible story of the retail “granddaddy of them all” Walmart, and its founder Sam Walton. Once you study Walmart, you realize just how deep its heritage runs through Amazon and so many iconic modern companies we cover on Acquired. This episode was an absolute blast, and we even uncovered a new addendum to the hallowed “focus on what makes your beer taste better” playbook theme! If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 11, Fundrise! If you’re considering raising a growth round of capital in the next year, you should definitely explore raising some of it with the Fundrise Innovation Fund. Just email to notvc@fundrise.com, and tell them Ben & David sent you. And if you’re an individual looking for exposure to private growth-stage technology companies, you can invest in the Innovation Fund here. Thank you as well to Pilot and NZS Capital! You can register for the NZS Talkback here. Links: Walmart’s 1972 Annual Report Episode sources Carve Outs: Ted Weschler on the Nebraska Furniture Mart podcast!!! Mario Puzo’s The Godfather (the book) ‍ Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
For the final act of the Arena Show, we’re joined by Brooks CEO Jim Weber to tell the amazing story of how he transformed the company from a 3rd tier, deeply cashflow negative “also-ran” into one of the world’s premiere fitness brands and a crown jewel of the Berkshire Hathaway empire — with compounding revenue and cashflow growth that rivals even the legendary Mrs. See’s Candies! If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Links: Jim's book, "Running with Purpose" Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link. Thank you as well to Vouch and to SoftBank Latin America! ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
We did an Arena Show!! This evening was so big and so special, we had to split it into two episodes for the podcast feed. First up is the Idea Dinner with our best internet buddies, Packy McCormick and Mario Gabriele (and special guest judge Shu Nyatta), followed by the story of YC Continuity with managing partner Anu Hariharan. Huge, huge thank you to PitchBook for making this night possible. Stay tuned for Part II! If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link. Thank you as well to Vouch and to SoftBank Latin America! ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
By 2012, NVIDIA was on a decade-long road to nowhere. Or so most rational observers of the company thought. CEO Jensen Huang was plowing all the cash from the company’s gaming business into building a highly speculative platform with few clear use cases and no obviously large market opportunity. And then... a miracle happened. A miracle that led not only to Nvidia becoming the 8th largest market cap company in the world, but also nearly every internet and technology innovation that’s happened in the decade since. Machines learned how to learn. And they learned it... on Nvidia. PSA: We’re doing an ARENA SHOW!! May 4th, 2022 in Seattle (Star Wars day). All proceeds go to charity. We’d love to see you there! If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link. Thank you as well to Vouch and to SoftBank Latin America! Links: Ben Thompson’s great Stratechery interview with Jensen Linus Tech Tips tests an Nvidia A100 Episode sources Carve Outs: The Expanse short story collection, Memory's Legion Sony RX100 point-and-shoot camera ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
He wears signature leather jackets. He can bench press more than you. He makes cars that drive themselves. He’s cheated death — both corporate and personal — too many times to count, and he runs the 8th most valuable company in the world. Nope, he's not Elon Musk, he’s Jensen Huang — the most badass CEO in semiconductor history. Today we tell the first chapter of his and Nvidia’s incredible story. You’ll want to buckle up for this one! This episode has video! You can watch it on Spotify (right in the main podcast interface) or on YouTube. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. ️ Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Vouch and to SoftBank Latin America. You can learn more about them at: https://bit.ly/acquired-vouch https://bit.ly/acquiredsoftbanklatam Links: Shoot to Kill: https://www.forbes.com/global/2008/0107/070.html?sh=261e2068d077 Episode sources: https://docs.google.com/document/d/1wt5jSpqjsRuYU00pq_ABWTM0iJ68hjMceF9XrreYPko/edit?usp=sharing Carve Outs: Starting Strength: https://startingstrength.com Elden Ring: https://en.bandainamcoent.eu/elden-ring/elden-ring ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
We hear a lot these days about hedge funds becoming venture firms, and venture firms becoming hedge funds. But a decade before either of those approaches became mainstream, a tiny $3m fund in Boston named Altimeter Capital set out simply to invest in a concentrated portfolio of America’s very best technology companies, regardless if they were public or private. Today that tiny firm has grown to nearly $15B under management and become a premier “capital partner” to founders at all but the very earliest stages — companies like Snowflake, Facebook, Roblox, Plaid, Grab and Acquired fan-favorite Modern Treasury. We sit down with founder & CEO Brad Gerstner to dive into the story behind Altimeter’s meteoric rise. This episode has video! You can watch it on Spotify (right in the main podcast interface) or on YouTube. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Vouch and to SoftBank Latin America. You can learn more about them at: https://bit.ly/acquired-vouch https://bit.ly/acquiredsoftbanklatam Carve Outs: Brad’s Twitter thread on Invest America: https://twitter.com/altcap/status/1347454947583950849?s=20&t=gM5zJMcq9p96GcjEHZw56w ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
SONY

SONY

2022-03-0703:03:412

Born in the unlikeliest of places — the terrible, wasteland-like aftermath of post WWII Japan — Sony rose to capture the imaginations (and wallets) of consumers and engineers around the world. The company produced hit after hit after hit: portable transistor radios, CDs, the Walkman, the PlayStation, DVDs, life insurance(!!)... and yet ultimately fell behind its greatest American admirer, Steve Jobs and Apple. This is the incredible story of Sony’s human and technological optimism in the face of overwhelming odds — a story that, given recent world events, remains as relevant today as ever. This episode has video! You can watch it on Spotify (right in the main podcast interface) or on YouTube. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. ️ Everyone in the Acquired community can get 10% off. Thank you as well to Vouch and to SoftBank Latin America. Links: Steve Jobs’ Tribute to Akio Morita: https://youtu.be/Drwkvf76Cls Planet Money on Sony and Spider-Man: https://www.npr.org/2022/01/28/1076531156/the-spider-man-problem Episode sources: https://docs.google.com/document/d/1LpnPSju5xSPcuaRVd1TYXnL1oGBr4Qs5bRS7owbxoEc/edit?usp=sharing Carve Outs: How This All Happened by Morgan Housel: https://www.collaborativefund.com/blog/how-this-all-happened/ The Model 3 is AWESOME: https://www.tesla.com/model3 ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Peloton

Peloton

2022-02-1002:21:442

The Peloton journey has been one seriously wild ride. From can’t raise money to one of Tiger Global’s first venture investments, to pandemic darling to the stock being down 85% in 6 months... there’s never a dull moment in this company’s history. And guess who’s leading the pack for its next chapter: that’s right, THREE-TIME ACQUIRED SUPERHERO, the one and only Barry McCarthy. We had to tell this story. This episode has video! You can watch it on Spotify (right in the main podcast interface) or on YouTube. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Vouch and to SoftBank Latin America. You can learn more about them at: https://bit.ly/acquired-vouch https://bit.ly/acquiredsoftbanklatam Links: Barry’s Hill School interview on YouTube: https://www.youtube.com/watch?v=9uwcSbe6YoE Episode sources: https://docs.google.com/document/d/1Qs4DwVFBTMCyEt7Xxlby6iRCpOs0aRTOWPLjrbFQO8Q/edit?usp=sharing Carve Outs: Barry’s planning framework from the Hill School interview: https://www.youtube.com/watch?v=9uwcSbe6YoE Switched On Pop on James Bond’s Spycraft Sound: https://switchedonpop.com/episodes/james-bond-spycraft-sound-billie-eilish-hans-zimmer-daniel-craig ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Not only is Taylor Swift the biggest music artist of our generation by nearly every metric (it’s not even close!), with the re-recording of her original albums she’s in the process of reshaping the entire music industry in a way no band or artist ever has before. And oh yeah — she’s still only thirty-two. We dive into the incredible business story behind perhaps the new "last great American dynasty"... the TSwift empire. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the "AWS of security and compliance". Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Vouch and to SoftBank Latin America. You can learn more about them at: https://bit.ly/acquired-vouch https://bit.ly/acquiredsoftbanklatam Links: Taylor Swift The Brightest Star: https://www.amazon.com/Taylor-Swift-Loves-Global-Sensation/dp/1912587556/ All You Need to Know About the Music Business: https://www.amazon.com/Need-Know-About-Music-Business/dp/1501122185/ Switched On Pop: https://switchedonpop.com/episodes/deja-vu-olivia-rodrigo-copyright-decoder-good-4-u-paramore Joni (Blue) vs. Taylor (Red) Album Art: https://gaylorlyrics.tumblr.com/post/624477640229863424/we-3-some-joni-mitchell-parallels Kelly Clarkson’s suggestion to re-record Taylor’s Big Machine albums: https://twitter.com/kellyclarkson/status/1150168164853882880?s=20 Episode sources: https://docs.google.com/document/d/1YKvfZuBrMB_BawZzt5c6ap8b2KdNg7n5Ko2tqF5AkCE/edit?usp=sharing Carve Outs: The Beatles: Get Back: https://www.disneyplus.com/en-gb/series/the-beatles-get-back/7DcWEeWVqrkE Italic: https://italic.com ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
CAA (with Michael Ovitz)

CAA (with Michael Ovitz)

2021-12-2101:48:191

Season 9 ends at the beginning — with the man who changed Hollywood forever and wrote the blueprint for A16Z’s upending of Silicon Valley a generation later, Michael Ovitz and his “Dream Factory”, Creative Artists Agency. From Jurassic Park to Ghostbusters, Back to the Future, Goodfellas, Rain Man, ER, and even the Coca-Cola polar bears... almost nothing in 80s and 90s pop culture didn’t have CAA’s stamp on it. Speaking of dreams, this episode was totally one for us, and we hope you enjoy listening to it as much as we did making it!! Big news!! All back catalog LP Show episodes are now free and available to anyone! You can follow our new public LP Show feed here. It's already chock-full of 60+ great episodes like our VC Fundamentals series, interviews with founders of top early-stage startups, and master classes on pricing, marketplaces, SaaS investing and many more topics. Happy listening and happy holidays to everyone!! Sponsors: Thank you to our presenting sponsor for all of Season 9, Pilot.com! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Michael’s (truly excellent) book, Who Is Michael Ovitz?: https://www.amazon.com/dp/B07B2HS77M/ ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
We tell the definitive (audio!) story behind FTX's "speed run" — how this upstart crypto exchange became the fastest company in history to reach a $25B valuation, just two years after founding. And to do so we're joined by not one but TWO of the very best people in the world to help: FTX's wunderkind CEO Sam Bankman-Fried, and special guest host Mario Gabriele from The Generalist, who Sam gave extensive access to FTX's internal data, employees, and investors for his canonical 36,000 word trilogy on the company this past summer. We cover it all — from the "$20m/day" trade that started everything, to Tom Brady & Gisele, to Sam testifying last week in front of Congress. Don't blink or you might miss it! Big news!! All back catalog LP Show episodes are now free and available to anyone!! You can follow our new public LP Show feed here in the podcast player of your choice. It's already chock-full of 60+ great episodes like our VC Fundamentals series, interviews with founders of top early-stage startups, and master classes on pricing, marketplaces, SaaS investing and many more topics. Happy listening and happy holidays to everyone!! Sponsors: Thank you to our presenting sponsor for all of Season 9, Pilot.com! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: The Generalist's FTX Trilogy: https://www.readthegeneralist.com/briefing/ftx-1 FTX: https://ftx.com FTX US: https://ftx.us Sam's Twitter: https://twitter.com/SBF_FTX ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
When does a creator become a company? Who says that media companies — or venture firms — have to be organizations? How high is the ceiling on one person + the internet? Acquired has the answers and they are... Not Boring. 🙂 Big news!! All back catalog LP Show episodes are now free and available to anyone!! You can follow our new public LP Show feed here http://pod.link/acquiredlp in the podcast player of your choice. It's already chock-full of 60+ great episodes like our VC Fundamentals series, interviews with founders of top early-stage startups, and master classes on pricing, marketplaces, SaaS investing and many more topics. Happy listening and happy holidays to everyone!! Sponsors: Thank you to our presenting sponsor for all of Season 9, Pilot.com! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Not Boring: https://www.notboring.co/ Proto-Not Boring: https://www.packym.com/blog/nyc-debate-club Not Boring's first sponsor deck: https://projector.com/story/2cb6296d-e229-4774-839c-efbf86d7f69f?scene=7127c7a0 Jake Singer's Not Boring Flywheel: https://theflywheel.substack.com/p/not-boring-packy-m Proof Ben was famous even before Acquired: https://web.archive.org/web/20150814041757/https://www.seattletimes.com/business/high-octane-leader-drives-microsoftrsquos-innovation-garage/ Carve Outs: Velcro swaddles (dad life...): https://www.amazon.com/s?k=velcro+swaddle An Engineer's Hype-Free Observations on Web3: https://www.psl.com/feed-posts/web3-engineer-take Rabbits: https://www.amazon.com/Rabbits-Novel-Terry-Miles-ebook/dp/B08HY29VM2 ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Standard Oil Part II

Standard Oil Part II

2021-10-1802:20:221

We bring the epic saga of Standard Oil and John D. Rockefeller to a close (for now) with two of history's greatest second acts: Rockefeller's pioneering of modern philanthropy (and really modern life itself), and perhaps the single greatest shareholder value "unlock" of all-time in the breakup of Standard Oil. And like any great American saga, of course the good guys win in the end. The only question is... just who were the good guys?? If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and access for live events and discussions with episode guests. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: Thank you to Pilot for being our presenting sponsor for all of Acquired Season 9! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Titan by Ron Chernow: https://www.amazon.com/gp/product/1400077303/ Episode sources: https://docs.google.com/document/d/1PzIts5VVgKhE70sAeHnLKcmDktTkXRgEVtuHDktfNCw/edit?usp=sharing Carve Outs: The to-be-announced (as of recording) M1X MacBook Pro... Starfish Space: https://www.starfishspace.com/ Peloton: https://www.onepeloton.com ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Standard Oil Part I

Standard Oil Part I

2021-09-2202:12:232

It's time. We dive into the *original* American capitalist mega winner, Standard Oil, and its legendary founder John D. Rockefeller. This company and man almost defy characterization -- Elon, Bezos, Gates, Buffett... they've got nothing on old John D. Not only was Rockefeller the wealthiest person in modern human history, his company wrote the blueprint for today's corporations and everything we now know about business and capitalism. Pull up a chair and get ready to hear how this hillbilly, nobody kid from the sticks grew up to became the richest person in the world, creating a legend along the way that would become the American Dream... If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and access for live events and discussions with episode guests. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: Thank you to Pilot for being our presenting sponsor for all of Acquired Season 9! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better -- so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot, and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Episode sources: https://docs.google.com/document/d/1X7oskTGkPX_rIKqZFlN49USR20Ii6C9p2SJCGzEXHLU/edit?usp=sharing Carve Outs: There Will Be Blood: https://www.imdb.com/title/tt0469494/ Deadwood: https://www.imdb.com/title/tt0348914/ SB Nation's Secret Base Atlanta Falcons series: https://youtu.be/Lx_ORMhpmoU ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
TSMC

TSMC

2021-09-0702:33:449

It's time. We dive into the unbelievable history behind the quietest technology giant of them all — and as of recording the world's 9th (!) most valuable company — the Taiwan Semiconductor Manufacturing Company. This story checks every box in the Acquired pantheon of greatness: China, America, MIT, Don Valentine, Silicon Valley, "real men" looking silly, and... moats literally built by lasers. We're not kidding. Pull up a seat and settle in for a great one! If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: Thank you to Pilot for being our presenting sponsor for all of Acquired Season 9! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to PitchBook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Episode Sources: https://docs.google.com/document/d/1rQMgQDY5c3Fs5DsjB4cZHVZGdhN4kK-6HapO_r7pjyQ/edit?usp=sharing Carve Outs: Ted Lasso (Season 1): https://tv.apple.com/us/show/ted-lasso/umc.cmc.vtoh0mn0xn7t3c643xqonfzy Greek: https://www.imdb.com/title/tt0976014/ Who is Michael Ovitz?: https://www.amazon.com/dp/B07B2HS77M/
Andreessen Horowitz Part II

Andreessen Horowitz Part II

2021-08-1002:52:052

Alright, backstory's out of the way, and Acquired is rolling three hours deep on the venture firm that changed the game for everyone — a16z. VC marketing? Check. "Founder-friendly?" Check. Platform services? Check. Huge valuations and massive fund sizes? Check and check. We dissect it all in glorious detail, right down to the famous office library (located next to the Rosewood on Sand Hill, natch). The story of modern venture capital starts here. Let's Go!!! If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and access for live events and discussions with episode guests. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: Thank you to Pilot for being our presenting sponsor for all of Acquired Season 9! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters. To paraphrase Jeff Bezos's AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. Pilot is in fact backed by Bezos himself, along with other all-star investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to Pitchbook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: Michael Mauboussin on persistence of returns across asset classes: https://www.morganstanley.com/im/publication/insights/articles/articles_publictoprivateequityintheusalongtermlook_us.pdf Tomorrow's Advance Man: https://www.newyorker.com/magazine/2015/05/18/tomorrows-advance-man Episode sources: https://docs.google.com/document/d/12jf9pwTdEuANtdOffUzSzvE0xEJptT0Or-gBSJgk8mg/edit?usp=sharing Carve Outs: Childhood's End: https://www.amazon.com/Childhoods-End-Arthur-C-Clarke/dp/110196703X MKBHD's Studio channel and tour: https://www.youtube.com/watch?v=pkuxIy3kFZM The Godfather: https://www.imdb.com/title/tt0068646/ Who Got the Truth on Spotify!! https://open.spotify.com/track/03X7SwpsCjZIofK8RFPwch?si=649d93b2be7743d5
Andreessen Horowitz Part I

Andreessen Horowitz Part I

2021-07-2702:05:4712

We kick off Season 9 with a classic: Part I of the a16z story. How did this brand new venture firm charge out of the gates in 2009, going from zero to disrupting the entire venture industry overnight? You probably know Marc & Ben's history with Netscape and Loudcloud/Opsware... but what about the Black Panthers, Nintendo 64, Al Gore, Doug Leone, Masayoshi Son, and an epic feud with Benchmark Capital that became Silicon Valley's version of the Hatfields and the McCoys? Buckle up, Acquired's got the truth. If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: Thank you to Pilot for being our presenting sponsor for all of Acquired Season 9! Pilot takes care of startups' bookkeeping, tax and CFO services so busy founders can focus on what matters, which is building the company. To paraphrase Jeff Bezos's famous AWS analogy: bookkeeping and tax don't make your product any better — so you should let Pilot handle them for you. In fact Pilot is backed by Bezos himself via Bezos Expeditions, along with an all-star roster of other investors including Sequoia, Index, and Stripe. They are truly the gold standard for startup bookkeeping, and many of the companies we work with run on them. You can get in touch with Pilot here: https://bit.ly/acquiredfmpilot , and Acquired listeners get 20% off their first 6 months! (use the link above) Thank you as well to Pitchbook and to Nord Security. You can learn more about them at: https://bit.ly/acquiredpitchbook https://bit.ly/acquirednord Links: David Streitfeld's great NYT piece on the Horowitz family: https://www.nytimes.com/2017/07/22/technology/one-family-many-revolutions-from-black-panthers-to-silicon-valley-to-trump.html Marc on the Tim Ferriss Show: https://tim.blog/2018/01/01/the-tim-ferriss-show-transcripts-marc-andreessen/ 2003 Marc in SF Gate: https://www.sfgate.com/business/ontherecord/article/OPSWARE-INC-On-the-record-Marc-Andreessen-2525822.php#photo-2684736 Carve Outs: Ben: The Elephant in the Brain: Hidden Motives in Everyday Life: https://www.amazon.com/Elephant-Brain-Hidden-Motives-Everyday/dp/0190495995 David: Resonant Arc Podcast / YouTube Channel: https://www.youtube.com/channel/UCFzWAEPDGiY34bGpwM_DWmA Episode Sources: http://1997.webhistory.org/www.lists/www-talk.1993q1/0099.html http://allthingsd.com/20130125/go-west-young-geek-chris-dixon-on-why-he-became-a-silicon-valley-vc-at-andreessen-horowitz-and-more-video/ http://www.computinghistory.org.uk/det/1789/Marc-Andreessen/ http://www.internethistorypodcast.com/2015/08/20-years-on-why-netscapes-ipo-was-the-big-bang-of-the-internet-era/ https://a16z.com/2011/05/09/microsoft-buys-skype/ https://a16z.com/2011/06/30/meet-our-new-general-partner-jeff-jordan/ https://a16z.com/2017/04/07/todd-and-freddy-okta/ https://a16z.com/2018/09/25/michael-ovitz-entertainment-culture-negotiation-talent/ https://a16z.com/2019/06/20/slack/ https://a16z.com/2019/11/20/brand-building-a16z-ideas-people-marketing/ https://a16z.com/2019/11/26/a16z-podcast-how-what-why-500th-episode-behind-the-scenes/ https://bits.blogs.nytimes.com/2010/06/15/andreessen-horowitz-hires-a-female-partner-from-outcast-communications/ https://bits.blogs.nytimes.com/2010/11/03/andreessen-horowitz-starts-second-fund/ https://books.google.com/books?id=zyIvOn7sKCsC&pg=PA15#v=onepage&q&f=false https://charlierose.com/videos/12907 https://en.wikipedia.org/wiki/Andreessen_Horowitz https://en.wikipedia.org/wiki/Ben_Horowitz https://en.wikipedia.org/wiki/Black_Panther_Party https://en.wikipedia.org/wiki/Browser_wars https://en.wikipedia.org/wiki/David_Horowitz https://en.wikipedia.org/wiki/James_H._Clark https://en.wikipedia.org/wiki/Jeff_Jordan_(venture_capitalist) https://en.wikipedia.org/wiki/Marc_Andreessen https://en.wikipedia.org/wiki/Michael_Ovitz https://en.wikipedia.org/wiki/Mosaic_(web_browser) https://en.wikipedia.org/wiki/Murder_of_Betty_Van_Patter https://en.wikipedia.org/wiki/Netscape https://en.wikipedia.org/wiki/Ning_(website) https://en.wikipedia.org/wiki/Spyglass,_Inc. https://fortune.com/2011/07/12/skype-the-inside-story-of-the-boffo-8-5-billion-deal/ https://fortune.com/2021/01/20/tech-and-crypto-funder-andreessen-horowitz-wants-to-replace-the-media-that-might-be-bad-news-for-investors/ https://fortune.com/longform/jeff-jordan-vc/ https://greatness.floodgate.com/episodes/marc-andreessen-was-netscape-an-overnight-success https://money.cnn.com/2009/07/02/technology/marc_andreessen_venture_fund.fortune/index.htm https://money.cnn.com/magazines/fortune/fortune_archive/2005/07/25/8266639/ https://newrepublic.com/article/162227/david-horowitz-profile-trump-propagandist-radical-leftist https://podcasts.apple.com/us/podcast/ben-horowitz-02-25-20/id814550071?i=1000466601994 https://techcrunch.com/2009/02/20/andreessen-on-charlie-rose-i-am-creating-a-fund-full-video/ https://techcrunch.com/2010/06/20/andreessen-horowitz-celebrates-first-year-with-new-general-partner-john-ofarrell/ https://techcrunch.com/2014/03/27/andreessen-horowitz-raises-massive-new-1-5-billion-fund/ https://techcrunch.com/2018/06/25/andreessen-horowitz-has-a-new-crypto-fund-and-its-first-female-general-partner-is-running-it-with-chris-dixon/ https://techcrunch.com/2019/05/01/a16z-ushers-in-new-fund-strategy-with-2-75b/ https://techcrunch.com/2021/06/24/andreessen-horowitz-triples-down-on-blockchain-startups-with-massive-2-2-billion-crypto-fund-iii/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADZwBJIiwmoiePFPnoZk3s1WbLc0aUfwh4wj_nMnhEi5nYQ0Q1xfZfmYDhSbKEsY22uz29mILPEgwMe6RNf3pL8Jmpa6t8I3D19mTdP2c5zWv5jnGf2VNMFgB6UcS4o_5nTs2ymb7QON0OtJ4X4aiHWgNAW5auKjI6Hq65Unz0x8 https://thehistoryoftheweb.com/browser-wars/ https://tim.blog/2018/01/01/the-tim-ferriss-show-transcripts-marc-andreessen/ https://venturebeat.com/2009/08/19/first-andreessen-horowitz-investment-apptio-raises-14m/ https://web.archive.org/web/20110407235346/http://bhorowitz.com/2011/04/06/andreessen-horowitz-has-a-new-200mm-co-investment-fund/ https://web.archive.org/web/20120212181829/http://www.engineer.ucla.edu/visitor-links/alumni/alumni-profiles-1/ben-horowitz-ms-201990 https://www.acquired.fm/episodes/episode-42-opsware-with-special-guest-michel-feaster https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205 https://www.businessinsider.com/benchmark-website-2012-11 https://www.coindesk.com/andreessen-horowitz-doubles-down-on-crypto-investments-with-new-515m-fund https://www.coindesk.com/andreessen-horowitz-rakes-in-2-2b-for-third-crypto-venture-fund https://www.economist.com/technology-quarterly/2011/09/03/disrupting-the-disrupters https://www.forbes.com/sites/alexkonrad/2019/04/02/andreessen-horowitz-is-blowing-up-the-venture-capital-model-again/?sh=6f3cdbfc7d9f https://www.justice.gov/sites/default/files/atr/legacy/2006/03/03/20.pdf https://www.jwz.org/blog/2019/03/brand-necrophilia-part-7/ https://www.linkedin.com/in/jeffjordan1/ https://www.linkedin.com/in/mcopeland/ https://www.newcomer.co/p/the-unauthorized-story-of-andreessen https://www.newyorker.com/magazine/2015/05/18/tomorrows-advance-man https://www.nytimes.com/1995/08/10/us/with-internet-cachet-not-profit-a-new-stock-is-wall-st-s-darling.html https://www.nytimes.com/1995/08/10/us/with-internet-cachet-not-profit-a-new-stock-is-wall-st-s-darling.html https://www.nytimes.com/2017/07/22/technology/one-family-many-revolutions-from-black-panthers-to-silicon-valley-to-trump.html https://www.quora.com/How-did-Netscape-Navigator-make-money https://www.sec.gov/Archives/edgar/data/1660134/000119312517080301/d289173ds1.htm https://www.sfgate.com/business/ontherecord/article/OPSWARE-INC-On-the-record-Marc-Andreessen-2525822.php#photo-2684736 https://www.statista.com/statistics/203734/global-smartphone-penetration-per-capita-since-2005/ https://www.theinformation.com/articles/these-guys-are-very-different-inside-andreessen-horowitzs-rise https://www.theringer.com/2017/6/8/16045766/jeff-jordan-andreessen-horowitz-vc-pickup-basketball-ab4e54928186 https://www.wired.com/1999/02/aol-names-andreessen-cto/ https://www.wired.com/story/andreessen-horowitz-new-crypto-fund-iii/ https://www.worth.com/a-decade-later-how-has-andreessen-horowitz-changed-silicon-valley/ https://www.wsj.com/articles/andreessen-horowitzs-returns-trail-venture-capital-elite-1472722381 https://www.wsj.com/articles/SB10001424053111903480904576512250915629460 https://www.wsj.com/articles/SB984080550858322401 https://youtu.be/PbW-1k3ZOA4 https://youtu.be/k5pbximmZdI http://cseweb.ucsd.edu/~little/OldSites/CSE_Uptime/v4.7-8/xmosaic.html https://www.baltimoresun.com/news/bs-xpm-1999-09-11-9909110235-story.html https://www.wikiwand.com/en/List_of_web_browsers http://www.internethistorypodcast.com/2014/01/mosaic/ http://www.internethistorypodcast.com/2014/01/chapter-1-part-2-netscape-the-big-bang/ http://www.internethistorypodcast.com/2014/02/chapter-1-part-3-netscape-the-big-bang/
Ethereum

Ethereum

2021-07-0603:01:099

We close out Season 8 with the most ambitious organization we've ever covered on Acquired: Ethereum, and it's celebrity wunderkind founder Vitalik Buterin. If you thought Mark Zuckerberg IPO-ing Facebook at $100B by age 27 was something, just wait until you hear the story of this high school junior creating $500B (!!) of market cap by the same age — and oh yeah, maybe seeding the future dethroning of Facebook, Google, Amazon and all of big tech in the process. Regardless whether you're a crypto neophyte, a die-hard bull, or a skeptical bear, this is a story you need to hear, and Ethereum is an innovation you need to understand. Buckle in for a wild ride... and some special surprises from a few Acquired friends. :) If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsor: Thank you to Tegus for being our presenting sponsor for this episode! Tegus is the world’s leading company intelligence platform. The Tegus product contains thousands of fully transcribed, searchable interviews with experts on companies of all stages, sizes, geographies and sectors – all accessible online and on-demand. They’re trusted by amazing firms like Benchmark, Spark, Thrive, First Round, Redpoint, MITIMCo, IGSB and more. You can learn more and get a free trial by clicking here. Just tell them that David and Ben sent you when you get in touch! Links: The Ethereum Whitepaper: https://ethereum.org/en/whitepaper/ Yung Spielburg https://open.spotify.com/artist/273so0X2Yuo93vfeX2nLDI and Mike Taylor https://open.spotify.com/artist/30ejUciK31BCg0IVCbt1dW on Spotify Carve Outs: Arthur C. Clarke: https://www.amazon.com/Arthur-C-Clarke/e/B000APF21M? (especially Rendezvous with Rama and The City & The Stars) Disney-Marvel's Loki: https://www.disneyplus.com/series/loki/6pARMvILBGzF The Diamond Age by Neal Stephenson: https://www.amazon.com/Diamond-Age-Illustrated-Primer-Spectra/dp/0553380966 Nier Automata: https://en.wikipedia.org/wiki/Nier:_Automata Magic the Gathering IRL: https://magic.wizards.com/en/events/event-types/friday-night-magic Episode Sources: https://www.amazon.com/Infinite-Machine-Crypto-hackers-Building-Internet/dp/0062886142/ http://www.gjermundbjaanes.com/understanding-ethereum-smart-contracts/ https://bitcoinmagazine.com/technical/bootstrapping-a-decentralized-autonomous-corporation-part-i-1379644274 https://bitcointalk.org/index.php?topic=4916.msg72174#msg72174 https://bitinfocharts.com/comparison/ethereum-transactionfees.html#6m https://blog.ethereum.org/2015/07/30/ethereum-launches/ https://coinmarketcap.com https://cointelegraph.com/news/ico-market-2018-vs-2017-trends-capitalization-localization-industries-success-rate https://consensys.net/about/ https://decrypt.co/36641/who-are-ethereums-co-founders-and-where-are-they-now https://defipulse.com https://en.wikipedia.org/wiki/Aether_(classical_element) https://en.wikipedia.org/wiki/Bitcoin_Magazine https://en.wikipedia.org/wiki/Bitcointalk https://en.wikipedia.org/wiki/Charles_Hoskinson https://en.wikipedia.org/wiki/Cynthia_Dwork https://en.wikipedia.org/wiki/Dai_(cryptocurrency) https://en.wikipedia.org/wiki/Decentralized_autonomous_organization https://en.wikipedia.org/wiki/Decentralized_finance https://en.wikipedia.org/wiki/Emin_Gün_Sirer https://en.wikipedia.org/wiki/EOS.IO https://en.wikipedia.org/wiki/Ethereum https://en.wikipedia.org/wiki/Ethereum https://en.wikipedia.org/wiki/Gavin_Wood https://en.wikipedia.org/wiki/History_of_Russia_(1991–present) https://en.wikipedia.org/wiki/Ian_Goldberg https://en.wikipedia.org/wiki/Jed_McCaleb https://en.wikipedia.org/wiki/Joseph_Lubin_(entrepreneur) https://en.wikipedia.org/wiki/MetaMask https://en.wikipedia.org/wiki/Proof_of_work https://en.wikipedia.org/wiki/Smart_contract https://en.wikipedia.org/wiki/The_DAO_(organization) https://en.wikipedia.org/wiki/Vitalik_Buterin https://ethereum.org/en/developers/docs/gas/ https://ethereum.org/en/whitepaper/ https://finance.yahoo.com/news/eip-1559-nears-ethereum-upgrade-070058011.html https://info.etherscan.com/understanding-an-ethereum-transaction/ https://joincolossus.com/episodes/14242194/drake-ethereum-into-the-ether?tab=transcript https://media.consensys.net/ethereum-gas-fuel-and-fees-3333e17fe1dc https://medium.com/@ConsenSys/a-101-noob-intro-to-programming-smart-contracts-on-ethereum-695d15c1dab4 https://medium.com/the-capital/layer-1-vs-layer-2-what-you-need-to-know-about-different-blockchain-layer-solutions-69f91904ce40 https://novicedock.com/learn/cryptocurrency/ethereum https://open.spotify.com/episode/0I8O5IW4lDaFdUNrhXJZ6k?si=tt199jqFThKyk__DSgb08w&context=spotify%3Ashow%3A41TNnXSv5ExcQSzEGLlGhy&dl_branch=1 https://uniswap.org/blog/uniswap-history/ https://vessenes.com/more-ethereum-attacks-race-to-empty-is-the-real-deal/ https://www.bloomberg.com/news/articles/2021-03-07/crypto-coin-outperforming-bitcoin-is-about-to-see-supply-reduced https://www.coindesk.com/2016-ico-blockchain-replace-traditional-vc https://www.entrepreneur.com/article/358661 https://www.fool.com/investing/2021/05/27/what-is-ethereum-20-and-when-will-it-happen/ https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp https://www.reddit.com/r/ethereum/comments/4oi2ta/i_think_thedao_is_getting_drained_right_now/ https://www.reddit.com/r/ethereum/comments/m07kof/ethereum_to_become_a_deflationary_asset_eip1559/ https://www.reddit.com/r/MakerDAO/comments/as40d0/why_would_someone_choose_dai_over_tether/ https://www.statista.com/statistics/807195/ethereum-market-capitalization-quarterly/ https://www.youtube.com/watch?v=3x1b_S6Qp2Q https://www.youtube.com/watch?v=K4UNOv6SUcQ&t=2354s https://www.youtube.com/watch?v=WSN5BaCzsbo
What do you get when you combine Berkshire Hathaway's approach with early-stage venture capital? Altos Ventures. We're joined by Altos's wonderful Ho Nam to discuss their highly unusual approach to VC, which has resulted in them becoming significant shareholders in great companies like Roblox, Coupang, Woowa Brothers and Krafton (makers of PUBG). This episode is an absolute must-listen for anyone in our industry — Ho is one of the best and most under-the-radar thinkers in Silicon Valley, and has many lessons to offer us all! If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like our Book Clubs. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsor: Thank you to Tegus for being our presenting sponsor for this episode! Tegus is the world’s leading company intelligence platform. The Tegus product contains thousands of fully transcribed, searchable interviews with experts on companies of all stages, sizes, geographies and sectors – all accessible online and on-demand. They’re trusted by amazing firms like Benchmark, Spark, Thrive, First Round, Redpoint, MITIMCo, IGSB and more. You can learn more and get a free trial by clicking here. Just tell them that David and Ben sent you when you get in touch! Topics covered: Altos's 13-year+ journey with Roblox, and how they deployed over $400m into the company out of an $86m fund Altos's heritage in Jack McDonald's Investments class at Stanford GSB, and the influence of Jack, Phil Fisher and Warren & Charlie How Altos successfully "value invests" in venture capital, and reconciling cashflow potential with growth "Good fundraisers" vs. "bad fundraisers" and correlation with returns Altos's unique fund structure and how they're architected to stay with companies longer than a typical venture capital firm Ho's Twitter presence and how (and why) he went from de minimus followers to one of the top FinTwit accounts in a few months Links: Ho's amazing Twitter presence: https://twitter.com/honam Ho's "Foxes and Hedgehogs" post: https://altos.vc/blog/foxes-and-hedgehogs Ho's "How do you know?" post: https://altos.vc/blog/howdoyouknow Ho's "Venture Lotto" post: https://www.altos.vc/blog/venture-lotto Sam Walton's Made in America: https://www.amazon.com/Sam-Walton-Made-America/dp/0553562835
Comments (104)

steve

54:34 continued

Jul 24th
Reply

steve

4:40 Start

Jul 24th
Reply (1)

steve

2:17:05 Playbook, power, conclusion

Jul 23rd
Reply (1)

steve

1:39:56 Expansion

Jul 19th
Reply

steve

8:27 Start

Jul 19th
Reply

Maciej Czech

Please don't use that sensitive microphones so close if nobody edits audio ;(

Jul 11th
Reply

steve

1:03:55 Grading

Jun 25th
Reply

steve

38:52 Pricing

Jun 25th
Reply

steve

7:24 Start

Jun 25th
Reply

steve

1:01:20 Grading

May 17th
Reply (1)

steve

4:47

May 16th
Reply

steve

1:24:37 Analysis

May 15th
Reply

steve

9:49 Beginning

May 15th
Reply

steve

1:30:00 Conclusion

May 13th
Reply

steve

46:13

May 12th
Reply

steve

5:10

May 1st
Reply

steve

1:05:36 Antitrust

May 1st
Reply

steve

42:30

May 1st
Reply

steve

4:50

May 1st
Reply

steve

2:03:58

Apr 24th
Reply
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