Invest Like The Best
Episode 170 The Past, Present, And Future Of Seed Investing
Invest Like The Best

Episode 170: The Past, Present, And Future Of Seed Investing

Invest Like The Best

Episode 170

The Past, Present, And Future Of Seed Investing

Josh Kopelman is the founder of the venture capital firm First Round Capital. We cover the changes he expects to see in early-stage investing post-COVID, what he looks for in founders, and what separates First Round from other early-stage investing firms

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[00:02:05] – (First question) – How pandemic has impacted their investing strategies

[00:03:54] – How this stressful environment impacts founders 

[00:06:23] – His early career as a founder and how startup culture has changed

[00:10:15] – Most important lessons from his entrepreneurial career and building from just an idea

[00:11:50] – How to analyze a founder 

[00:14:05] – Common disagreements when it comes to deciding on an investment

[00:15:33] – How many opportunities they evaluate in a meeting

[00:16:16] – The curvy road to their investment in Roblox

[00:17:52] – Whether the concept for a platform is overused 

[00:19:36] – Founders asking what google search they should build on

[00:20:46] – Solving existing or forecasted problems

[00:25:39] – How the startup scene is impacted by the huge legacy tech companies 

[00:30:28] – What makes a great early-stage investor 

[00:32:19] – Do they focus on founders or themes 

[00:33:19] – Where will valuations and returns come back to after the pandemic

[00:36:30] – How are business models evolving in technology entrepreneurship

[00:36:31] – Matt Clifford Podcast Episode 

[00:39:40] – The Dorm Room Fund

[00:43:02] – Whether investment funds should have their own platform

[00:47:31] – Product mistakes in software building

[00:51:52] – What he’s most excited about for the future

[00:54:05] – Kindest thing anyone has done for him

The Past, Present, And Future Of Seed Investing

Introduction

Patrick
My guest Josh Kopelman, the founder of famed venture capital firm, First Round Capital. Prior to starting First Round, which has invested in the earliest stages in companies like Square, Uber, and Robox, Josh was a three-time entrepreneur. So our conversation spans early-stage investing, business building, and entrepreneurship. I'll not soon forget his analogy distinguishing between navigators and cartographers, nor the rest of the interesting ideas he shared after seeing and investing in so many businesses. We also discussed how First Round has bucked the trend to build what I'd call a platform, adjacent to the core investing business, which does a lot for their entrepreneurs and as a model for other professional investing firms, both in venture and elsewhere. Please enjoy my conversation with Josh Kopelman.

Post-COVIDInvesting

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