YouSaid · the spoken record

Aileen Lee

lines on the record: 111
first: 2016-10-03
most recent: 2016-10-03
sittings or episodes: 1
sources: podcast

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“With our size, I think we're, you know, we're small. But I also think I want to be super aligned with our investors and with our entrepreneurs, which is it's all about the upside. It's not about the fee income, which I think is like a trap that many people in the venture world are stuck in is like the crack of fiat income Because we are small, it's all about what we call carried interest. Like it's like the profit sharing after we return capital. And if you want to get into that, you have to keep your fund small.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Well, we get most of our ownership at seed, but we follow on in the A, the B, the C, and also LPs, the investors in our funds, like they want to continue to have opportunities for upsides. So it's actually nowadays a lot of seed firms create what they call SPVs, special purpose vehicles, where if you have a pro rata in a company that's doing well, but it's like $5 million, you just create an SPV and you do it through that.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Being so close to the entrepreneurs at seed, where really you're one of the few early believers, right? A lot of people are naysayers and you're with them and you've helped them hire people and you've helped them make tough decisions and you've like kind of worked on, okay, what's the story for Series A? And we have to make some tough trade-offs to make sure we make it. Like you're kind of in the trenches together. Hopefully the entrepreneurs remember that. And we do stay in touch. It's not like we disappear after they raise their A. In some cases, I stay on the board and stuff like that. So we do have the opportunity to continue to invest in the companies. But you try to do this.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“You change consumer behavior like multi-billion dollar hotel chains now think, oh, how do we change our business in the age of Airbnb? Right. It's amazing.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“This worry mode of all the things that could go wrong because you don't want your 10 partners breathing down your neck being like, see, I told you that was gonna suck. First of all, I don't have that. It's just myself beating myself up all day long. But you really... Aline, you suck. Yeah, I did think that quite a bit. But I think much more about what if it goes right. Like, what if this works? It would be so awesome. And I think like some of the things that are going on in tech right now, we were talking about Pokemon Go before or Uber, Airbnb, like so easy to poke holes in those businesses, right? Like I remember Airbnb and Uber and everyone being like, oh, they are going to be regulated out of existence. Or like they will be sued forever and will never make it, right? But no. Yes, but sometimes. But you just like look at, I mean, consumer businesses, I think, are way harder in many ways than enterprise businesses. But when they work, you are truly changing industries.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I have to say, it has been so much better than I expected. I mean, I don't know if I had really expectations, but I think the flexibility and the agility for us to be able to meet people and have a quick feeling about whether I'm leaning forward, my heart's beating faster. I love the way they're talking about stuff, the market's big. And like Bill also said, like you kind of get in this.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, that's a warm thing, too. So, yeah, I think I felt like this is going to be like, there's no one to draft off of. It's like this is it. Your decision. Yes. It's like you have to have your gut and you have to have your frameworks and just go for it. And maybe it'll suck, but like, you got to do it. That's the job.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I was like, what? Like, you think that I could do that? And they're like, of course. Why wouldn't you? And I honestly had not crossed my mind until they said that. So I thought about that for three months. I did my financial models. I worked on the deck. I thought about it. And the more I thought about it, I thought like this actually would be amazing. Like maybe it would be bad. But I have, as I mentioned, I think I have a lot to offer and I have good judgment, but I think when you're part of a large firm, sometimes it's hard to get that through. And you also maybe get into this groupthink and you get worried about what people think about what you think. Right.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Wall Street Journal. Yeah. It's like leaving behind a big name. Yeah, it was hard. And I'm really fortunate, my husband and I had been having dinner with some friends who are entrepreneurs and they knew me and they knew the Kleiner pretty well and asked how it was going. And they were like, so when are you going to leave and start your own firm? And I was like,”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“A lot of, yeah. There are, but they basically all said there is a lot of money at seed, but there's not enough really experienced, helpful people who post writing the check are going to work really closely with these teams for a year or two years to help them get to the A and help them be on the right path. And we always co-invest. So we'll work together. It'll be great. And so I so appreciative of their support because maybe I wouldn't have done it if I had said like, yeah, it's too hard.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“No, so I think it's hard, both because these firms have so much money under management, making a million dollar investment just doesn't make sense. And you have signaling risk, right? If you invest in the seed and you don't invest in the A, it's like, oh, what's wrong with that company? Did it not perform? So I like, and I also, you know, I've been doing this for a while. I have so many, I've built a lot of great relationships with people I really respect that I never got to work with and I basically had to compete with to win Series A's. At Seed, we co-invest. So some of the first people I called when I was thinking about starting this fund is Steve Anderson. I started with him at Captain. Yeah, he's amazing. He's done an incredible job like across so many different kinds of companies. Yeah. And we started together at Kleiner or Josh Koppelman, who has built an amazing firm or Michael Deering. People who I've known for many years and become friends with, but never really got to work with. And I called them and I was like, hey, thinking about this seed thing, is it too crowded? I mean, I know in general we think there's too much money.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, like getting really involved. And it's a different pace. Like, we might make five or ten investments a year instead of a GP at a firm is meeting with a ton of companies all year long to make one or two investments. But you're married to them for the next eight or ten years.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And where, if you've got experience and you've got some advice or judgment to share, if you're really picky about people and you'd like to help people build teams, if you've really into product roadmapping and prioritization, like ruthless prioritization because at seed you have like not enough time and not enough money. You have to kind of be brutal about what are the five-year-olds.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And meanwhile, seed was this emerging category where the teams are smaller, they're definitely more raw in terms of what they figured out, which is actually kind of what I like about working with entrepreneurs. Sure. And they are more appreciative in some ways of more help at that stage because it's less baked.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“When I was leaving, it was kind of a combination of things like Kleiner, I had been there for a long time, and we had grown a lot bigger over the years, and I was fortunate to be a senior partner, so involved in a lot of the different practices that we had and a lot of different meetings. And I found myself in a lot of What I want to keep doing And then meanwhile,”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Right, a $10 billion company. But you have to be, if you have a billion dollar fund, you kind of have to own a certain amount of a $10 billion company to be able to be doing a good job and have top quartile returns. Like for our fund, like our second fund is $60 million. We don't have to. If we own 10% of a $600 million company, we've returned capital. So I actually like why you left Kleiner then. Like here you are.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“It's about from an investor perspective, especially not necessarily for cowboy ventures, but for traditional venture funds that are $600 million, like the way the math works is you have to be investing in unicorns, otherwise you're not going to call it.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Well, I had a kind of, well, it was kind of like, you know, I had a bunch of different things, like, I don't know, like home run, a bunch, and they just sounded yucky. Yeah. And unicorn, when I put that in there, it was like the idea was something rare.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“It's like, no. It's like you're doing the right thing. You went and got some work experience. You work with really smart people. You got to know a market. You know how to build and ship product. You got some exposure to sales and marketing, whatever it is. Like now you're ready.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, because I would be having meetings with founders who would come in kind of sheepishly being like, hey, I'm really sorry. I'm 35 and I know I'm really old, but I hope you'll still meet with me. Right, right.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Almost always a technical co founder. Like, there was just a bunch of, and people at the time in 2013, there was this dropout of college, start a company. You're a loser if you haven't started a company by the time you're 24 kind of a thing. These people started their companies in their 30s. And they had work experience beforehand, mostly at tech companies. So it was like, I kind of, I was happy that that's how the”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Like putting it all into a big spreadsheet and then lining up all the companies and saying, okay, what do these companies have in common? And it actually turned out that they had a lot in common. Well, first, like one is it really is like this less than 1% thing, right? It's very rare. And it was also like how many a year at the time when I wrote up the analysis in 2013, they were basically on average in the past, in the prior 10 years, for a year. That's also changed in the past couple years. All right. But it was the vast majority were teams, people who had worked together before. Unfortunately, pretty much no women.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, like, and how old were you when you started the company? Is this the original idea? Are you still doing the original idea? And where did you work before looking up their LinkedIn profiles and just putting it all into a different?”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And so I basically just started making a list of like, okay, what are the winners of the past decade and what's the cut off or what would be like what would be a winner? And then let's just start, let me just start looking at data. And at time, like Crunchbase wasn't like a thing that you could really search. So it was really a lot of hand pulling and a lot of calling friends who I happened to be a lot of these founders or people that I knew. Like, how did you meet? Is this the like?”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Very little data. And that's changing, I think. Like the whole money ball idea of money ball for venture capital or moneyball for a lot of things that historically have been very anecdotal and subjective, I think is on its way.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And it was actually hard to come up with the data. Like, everyone agreed, but they didn't. And I was like, and then so how many do you have to look at every year to find those two? And can you tell at the beginning that those two are those two? Or do they wind up? Like, are they pivots or like what, where do the people, do they all go to Stanford? Did they all drop out of high school? Like, what's like, what?”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Cowboy Ventures, $40 million seed fund. And before diving into making a lot of investments, I had the fortune of having kind of like a clean slate and more time because I didn't have a huge portfolio to work with. And I had asked some of our investors, LPs, you know, like conventional wisdom or like kind of the lore of venture capital is you work really hard with a diverse portfolio of companies. You might have 20, 30 companies in a fund. And at the end of the day, it's like two that matter. Right. Like, can I see the data?”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Explain how you came up with that. It was just a naming convention for this analysis that I was trying to do, right? Which is had this new fund.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“It's very efficient, I would say, because like billion dollar valued by public or private markets at over a billion dollars, but less than 10 years old is like a lot.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“There are some things that I wish that we had done that would have been both fun making and career making that we didn't do, but in some cases I pushed for.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“That's on the field, right? Like, what is happening? At the time, things were getting expensive. And And there are some things that I think part of the fancy.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And then there were also rules around we don't do things that are too expensive. And that was a, like Bill was saying, I think something about how you have to play the game.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, like we had said, like, we are looking for mobile native new services that are delightful and that were the product-oriented founders who just create magical experiences for customers. And Uber certainly felt like once you started doing it, you were just still thinking about like, wow, that was so cool. It was so easy. It made me feel so special. And one of the things that I've always had in my head is a little bit like the Starbucksification of everything, right? Whereas there's a lot of things that you take for granted every day where you're not treated with respect or you might be willing to pay a little bit more like coffee used to be 99 cents and now you're willing to pay three or four dollars for it because it makes you feel so much better. Absolutely. It's like a little treat during the day, right? And Uber”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I would say, like, there are some, you know, Bill Gurley was on recently, and he was talking about rules. And we used to have... Rules. I mean, most firms do, right? Which is lessons learned, right? After many, many years of making good and bad decisions, you have lessons, which is like you have to have a certain amount of ownership. Or we only invested A, we don't invest at B or C, or we only look for these kinds of people or whatever the rules are. And back towards the end of my years at Kleiner, we were pushing to get more involved into seed. A few of us were. And then I was just kind of like, we don't do seed. And Uber was one of the seeds that we took a look at. And it was a magical, even though it was black cars. So there was a risk that it was like a rich people's product. Right. It was a magical experience.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Well, or I just, I think I just didn't have the self-confidence that I wish I had had because maybe I could have saved us some money. Some money.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“No, that was a good lesson. And I think my lesson there is I did not love it. I thought it was a super cool product and a really cool technology, but $8,000, no clear practical use cases, no place to like put your bag. Or like, how are you going to lock it up when you get to work if you take it to work? It's not easy to go upstairs. But I did not, I said some of those things softly. But maybe not as loudly or as effectively as I could or should have because I was the only woman, almost always.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And so on the weekends, my husband and I would like to go play Segway Polo with this crew because we were trying to get to know the Segway community.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“And Steve Wozniak had bought like four or five. Yes, that's right. And so he would bring them in a little in a minivan to a field and then like invite engineers that he knew to play Segway Polo with him.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Always really funny, actually, because I was trying to like there was some four mostly geeks who like cool tech toys, people were buying these $8,000 segues.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“No, it was evaluate. Back then, we would print out business plans and put them in folders, and every night I would take home like 20 folders and just read business plans. And it was a lot of it was helping portfolio companies. Like Kleiner was and still is very service oriented around like venture is a service job. We are in service to entrepreneurs. And so it's about sitting shoulder to shoulder to them and figuring out like what's our plan? What are our priorities? Should we do KRs? Like who do we need to hire? What customers need to go get? And basically kind of Like walking through walls for the teams that you're working with.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I mean, ventures changed a lot. Back then, sourcing was not part of my job. Probably for the first eight years. Mostly because you got everything. We saw everything. Like, we didn't have to look because everyone called us.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I think basically they were doing a search for an associate, and the associate would be working mostly with John Doore. And it was a combination of like, I was somewhat technical, having gone to MIT. I had been chief of staff to Mickey. I had some internet experience and consumer experience. And the dot-com boom was happening. And most venture firms did not have many consumer people at the time. They had a lot of networking and ship people. And so I think there was a feeling like, oh, you know, and it was not a partner track job. So it's like, come do this for two years. You'll be smarter than you were before about startups. And hopefully you can make a better decision about where you go next. And I was like, that's fine. I don't know anything about Silicon Valley. And it was the most”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Oh, well, you know, it's so funny because I did interview with a company called Della and James, which was a wedding registry company, founded by Jenny Leftcourt and Jessica Herron. And I'm still friends with them today, but they were internet pioneers in the dot-com era. And Jessica, as you know, is now the founder and CEO of Stella and Dodd. And Jenny's a partner at freestyle. I also interviewed at Eve.com, founded by Varsha Rao and Miriam Nefisi. Varsha is now at Airbnb and Miriam's the CEO of Minted. And I'm still friends with them from back then. But it was really cool. I mean, they were like no female founders back then, but the four of them are all still in the game. Did you ever interview at”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah, that term didn't exist. Yeah, that tech didn't exist. And it just seemed like really smart people were going to those companies or moving really fast. And I knew that being on the dot-com team at Gap, we were kind of slowly figuring out how to stand up a site every day, but we just didn't have, I think, the A team or the ability to run as fast as these Pure Play internet companies. And so I decided I wanted to join an internet company. And I just basically interviewed with anyone who would talk to me.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“99. Yeah, like beginning of 99. So, like.com boom is happening. Some of my friends from business school had gone to these random startups at the time as like Amazon or Netscape. And I was kind of like, oh, good luck with that book thing.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“If you remember I do remember that Then it became kind of trendy. Yeah. I mean, I don't remember Khaki Swing. That was like a big, like everyone used to wear khakis, right? And Gap was like.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, he was all no, he was the CEO at the time. The Fisher's are the founders, and he's running J. Crew now. And he's just an amazing merchant. And it was such an amazing time at Gap. Like, we really were a talent magnet company for the industry. Definitely.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“Oh, thank you. What did you do? Fleas or cops or what? No, I did, like, I worked on this business development team that was kind of like a strategy group trying to like, but working hands-on with merchants on stuff like pricing or store strategy and helped write some business plans. Like at the time, we were thinking, like, should we do maternity? Should we do get body? And we would kind of do research, try and figure out market sizes. And like, how would we do this? And what would the brand be and what would the business be like? So in a way, like a little bit like entrepreneurship. And then my second year, I actually got to be chief of staff for Mickey Drexler. Oh, wow.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“I kind of worked my way up the retail food chain at the shortest mall over the years. And I had always been really interested in brands and brands that had a lot of customer or like organic consumer love, very high quality products, not a lot on marketing, but a lot of customer love. And so when I was in business school, I worked for the North Vase and Odwalla that were both private companies, like up-and-coming companies with just a lot of customer love. And then I went to Gap after business school, which was like a really hot company.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT
“So a lot of analysts would take a third year job going into venture capital or something else. And some of my colleagues were looking at venture capital jobs when I kind of like, oh, that sounds really cool. But it was all guys, mostly white guys. And I looked at the firms. And back then, I think we had to go to the library to figure out who the firms were. And they were all guys. And I just figured older guys, I would never fit into this world. Like I didn't grow up in Connecticut with a businessman father who had been teaching me about business. And so I didn't try. I wound up going to Harvard Business School. And along the way, like, I had, you know, worked at the mall at Shorthills for many, many years when I was in high school. And I always had a, it's a nice mall.”
2016-10-03 · Decoder with Nilay Patel · Recode Decode: Aileen Lee, managing partner, Cowboy Ventures · IDENTIFIED FROM THE TRANSCRIPT