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Jeff Richards

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2019-03-04
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2019-03-04
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  1. “Trying to change the way people are prepared to go into the workforce. For hundreds of years, we've had this traditional model of going to college for four years, graduating, and then trying to find a job. And Austin is really flipping that on its ear and saying, hey, if you think you want to go into computer science or you want to go into nursing or you want to become a doctor, we can help you accomplish that goal and we'll be on the hook for your success. And so what he's accomplished with Lambda is just amazing. And we jump at the opportunity to invest along YC and Google Ventures and a number of other great investors.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Well, I'll give you two that we just announced in the last 30 days. One is called Electric.ai. It's based in New York, repeat founder named Ryan Denahid. We actually met Ryan in the Series A. We offered lead to Series A and he politely chose best of our venture partners, which is a firm we have a great deal of respect for. But we very eagerly pursued him for the Series B, and I'm glad that he chose us. An amazing company that is using AI and modern tools like chat and bots to provide IT support for small businesses. Ryan and his team are setting out to change the way those businesses manage their IT infrastructure. The other one I just have to mention is an amazing company with an absolute stupendous founder named Austin Alred, and it's a company called Lambda School. And he's really, this is a passionate area for me.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “So there are certainly pros and cons to attribution in our firm. We do attribution and we do it mostly to hold each other accountable and establish that level of trust.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “This is a hard topic and I loved how Josh answered it. They have a very team-based approach at first round. In our firm, we do a fairly high degree of attribution, and we track performance in a very, very detailed way. We literally go through it every 90 days. And I think at a much more detailed level than most firms. And part of that is just to hold ourselves to a high standard to generate high returns for our limited partners. And part of it is to hold each other accountable. On the flip side of that is we also have a very high level of trust. So we trust the Hans or Glenn or Jishun or Jenny or Eric or I can sit in front of an entrepreneur and make a commitment to the entrepreneur knowing that we have the trust of our partners because we're holding each other accountable. I think that's a fairly unique model. A lot of times VCs will say to a founder, I have to go get approval from my partners where I think we've established a level of trust over the last decade with each other where we can make commitments on behalf of the partnership and know that we can live up to them. But the flip side of that, it's because we hold each other accountable for performance.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “It's a great question. I guess I'd give a couple thoughts. One, I would talk to the CEO who has brought you onto the board and ask what his or her expectations are of you. What role would he or she like you to play? Where are specific areas that you can add value? What roles do the other board members play? How can you be complementary to them? So one is, and we sort of assume that quote unquote board member is the same in every company. And the reality is different board members can play different roles as part of a board. So that'd be one. The second would be to spend time outside of the board meeting. I think board meetings are fantastic. They're a terrific chance for CEOs to organize their thoughts and give their teams a chance to present and engage with their investors and their board members. But so much of the dialogue that really is beneficial to you as a board member and to the CEO happens outside of the board meetings. And so I spend a lot of time outside of board meetings chatting with founders and CEOs to make sure I'm aligned with what they're trying to do and figure out how we can be most supportive to them.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Well, I listened to a lot of your episodes, and so I know folks have recommended a lot of folks that I love, like Shoe Dogg and Elon Musk and many of those folks. I'll give you one that might be a little unconventional, which is.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “I think when you first get into venture capital, your tendency is to be looking for relatively safe choices. And every VC I know who those who have switched from the operating world into the venture world has said, you know, I wish I would have taken more risk. And I think I would say the same thing. There were some things that I looked at early on that went on to be huge outcomes that we passed on because they look too risky. And part of it is you're doing your career. You don't have a lot of credibility or data points to rely on to say, absolutely, I should take that risk. But I think what you see is experienced venture capitalists and some of the most well-known venture capitalists, Bill Gurley, Doug Leone, Jim Detz. The further along they've got in their career, the more risk they take. And so that would be my loved to have taken more risk early.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Turns and you want to make sure there's reserve capital for those companies as well. One of the things we do that I think is fairly unique as a partnership is we get together in person every 90 days. So the six of us will travel to Glenn and I and Hans were just in Shaihai with our team there last week. Every 90 days we get together and we go through every single portfolio company. We spend a day on strategy, a day on team, and a day on the portfolio. And as we go through that portfolio, we're constantly looking at each company. How are they performing? What does the reserve look like? And where do we want to allocate those dollars? And so it's less of a moment in time decision when the company comes up for a fundraise. And it's more of a rolling conversation throughout the course of the year when we're meeting every 90 days. And of course, we have our Monday partner meetings as well. There's an ongoing dialogue about how we plan to support those companies.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “It's a great question, and I think every firm has their own model. So for us, when we make an initial investment in the company, we put a reserve behind that and every partner, you know, there's usually one or two partners that are working on a deal together. They'll make a decision and say, if we're going to invest $15 million up front, we'll put a reserve behind that. And then over time, we make a judgment call as to how to allocate that reserve pool of capital based on the performance of the companies. And I think one of the things that's really, really hard to do is to have a high level of trust among the partners within a firm. We have six GPs in our firm free in the U.S. and free in China. Because you're going to have some companies that take longer to hit their stride and really hit their inflection curve and they need capital in support along the way to get there. And they'll have others that just sprint right out of the gate in a rocket shifts. And your tendency is to put all of your reserve capital behind those rocket shifts. But you've got some other companies that might just take longer, but can be really, really successful outcomes and drive huge.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Down the road with additional capital, we can lead rounds, we can participate pro rata, because RLPs would like to see us put the most amount of money that we possibly can behind our winners. I think the harder decisions are when things aren't working. And, you know, you invest in a company in a year or two down the road, it's not working. And you've got to have hard conversation with the founder about is it really the best thing to raise another convertible node? Is it really the best thing to raise a random $5 or $10 million financing from a strategic that's from somewhere else, perhaps not in the U.S. where perhaps financings that aren't the most beneficial to the company are prolonging the company in a mode where it's not really being as successful as it could have been? And I think those are the ones where you end up spending a lot of time in a harder conversations.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Yeah, it's a good question. I mean, obviously, our fund size today are fund that we're currently managing is $1.9 billion and we're managing $6.2 billion overall. And so at some level, we're trying to produce outsized returns, those 10, 20, 30x type returns, but we're also trying to put money to work on behalf of our LPs. So we're kind of balancing both when we think about both our initial check, but we're trying to get obviously a good ownership stake in a company, but then also the follow-on. And one of the benefits that we pitched entrepreneurs is we can follow on and finance your company throughout the life cycle of the company. And I'll give you a great example. One of our largest investments today is a $75 million investment. We started out with an $8 million investment of $100 free of the Series B. Today, that company is worth over $8.5 billion. And so we've continued to support the company. We've continued to invest in the company, and it's going to produce a fantastic return for our LPs.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Transportation landscape in China and is now doing so outside of China. So there are these anecdotal moments and these companies that we've been able to back, DD's one, Xiaomi is one, Airbnb is one. I think Open Door has the chance to be one. Square is one. Where you sort of squint and say if we get it right, we have to kind of think that we could break the mold and break the model and this could produce exceptional returns for us. So all of those are examples of companies that we think of when we're asking ourselves those questions and having a hard time getting our heads around what looks like a very high valuation.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “We are all a collection of our hits and our misses in venture capital. One of the hardest things for me to get my head around when I went from being an operator to an investor was the idea this very hits driven business, this idea of batting for slugging outage, not batting average. I'll give you an example. We invested in DD in China at a relatively low valuation, but at the time it looked like an exceedingly high valuation for where the company was, certainly from a revenue standpoint. But my partner Jishun did an amazing job of talking to the partnership and saying, guys, if we get this right and DD changes the way people use transportation in China, I think this can be a $100 billion company, which at the time I think it was valued at $2 billion. And that's just an exceptional train of thought to have for a company that's literally generating maybe $100 million in revenue. Well, fast forward today, it's probably been four or five years. DD has $550 million, over 30 million drivers, and has just fundamentally changed the transition.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “It's a really hard topic. We like to say we don't mind paying high prices for great companies, and I think that has been the mantra in Silicon Valley. And when you get it right, I know Glenn made this point when you chatted with him. When you get it right, the great companies wildly exceed your expectations. I remember GGB was an early investor in Alibaba group. And back in 2003, a $200 million valuation. And I remember when I joined GGB in 2008, I was chatting with an investor here in the U.S. who was just mystified that Alibaba was now worth several billion dollars. I think privately at the time it was worth $10 or $12 billion. And he just kind of said, well, how much room does it have to run from there? Well, of course, today Alibaba's a $500 billion company. And so when you get it right, whether it's an Uber or a Facebook or an Alibaba or a Tencent or a JD, when you get it right, they run and they wildly exceed your expectations. And I think everyone in the venture community has learned”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “In the long run, and there are so many founders that can talk about this that did this the right way. Lucerne, a new relic, is a great example. You know, a multi-billion dollar public software company today. But if you ask Lou, he took money from people that he knew and trusted in Peter Fenton and Nance Bolnick, and he did evaluations that worked for him but also worked for them along the way. And I think he built a better company because of it.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Companies that raise money in 400, these are $50 million consumer companies that raise money at a billion. But two or three years later, some of those companies, and by the way, probably the majority of those companies didn't hit their plans that they had given to those investors. And then they're coming back out to the market to try and raise money. And they're sitting at this artificial valuation that they didn't live up to. And it makes it very, very, very hard. And in many cases, they're good companies. You know, they might have had a plan to go from 10 to 20 to $40 million in revenue to 80. And instead, they went 10, 15, 25, 40, which is still a good company. It's a good business. It's just not a business that went to 80 million in three years. And so I think if you can be humble enough and savvy enough as a founder and a CEO to, A, you know, Josh talked about the value of picking. Pick the right partners at a reasonable valuation for you and for them. You'll be much happier.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “I would say this is one of the most frequently offered pieces of advice in Silicon Valley that is the least frequently followed, you know, particularly in a market like we've been in for the last few years where there's a lot of money chasing a small number of companies and particularly a lot of late stage capital. It's a hard topic because I don't blame founders for taking money at the highest price. You're trying to take on the lease solution and preserve the most equity value for yourself. The thing that I think is hard for first time founders in particular to understand is the concept of momentum and the concept of constantly showing a company that is making progress and growing and not losing that momentum along the way because when you lose momentum it's hard to keep talent, it's hard to keep your brand and it's hard to recruit new talent. And in particular today, I think we've got a little bit of a hangover from the funding cycle of 2014-2015 where there was a huge boom in venture capital funding and a lot of companies raised money at very high valuations. And these are $10 million.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “To any company she wanted to and chose to come in and be president of Buddy Media when we were still relatively early in the growth of the company.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Risk to come in earlier. I'll give you an example. I was on the board of a company called Buddy Media, which Salesforce acquired several years ago for $800 million. And we were scaling the company, we got to about 20 or 25 million in sales. And Mike realized Mike Lazaro was the founder Mike realized he needed to recruit a super talented executive to help him run the company. We were able to get a woman named Susan St. Ledger, who was one of the top five executives at Salesforce, and today is the president of Splunk, which is one of the largest software companies in Silicon Valley. But Mike was able to recruit Susan into a role that, frankly, she was way overqualified for just this amazing, exceptional person who had no business joining a company at the stage that we were at. But Mike and Cass Lazaro were able to recruit people like Susan in because they had this incredible zeal for what they were doing, they were passionate about the mission. They were building this amazing culture. The company obviously had a ton of momentum, but Susan to me was the kind of person that doesn't fit the mold of what Jason described, being a complete outlier, somebody who's wildly successful.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Think Jason's point is valid, and I would say on average, that is the trade-off. You either hire an up-and-comer who hasn't proven it yet, but is hungry and has the smarts to really be successful, or you hire somebody who's further along in their career and may not be, you know, may not have been super successful in their most recent role. Having said that, what I've seen happen in the last five years is companies that have exceptional founders that are mission-driven are able to attract super talented executives who are willing to give up compensation, they're willing to give up security, they're willing to take on more risk because they believe in the mission of the company. You mentioned Brightweel earlier as an example of that. I think that's a great example. As you know, we're an investor in a company called OpenDOR that I think people have really grabbed onto the mission and the idea that they're trying to change the real estate industry. So these companies that look transformative, that have powerful leaders that can inspire people, I think those kinds of companies can break the mold and recruit super talented executives who will take the”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “Well, this is something I'm pretty passionate about having been a founder and operator. I agree. I wrote a blog post a couple of years ago called The People Conundrum, and I made them”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “And suddenly you've got these high powered investors telling you to be aggressive and going out and hired. It's a big mindset shift for founders to suddenly say, gosh, I can go from paying myself nothing to trying to recruit super talented people from these other amazing organizations in Silicon Valley and paying them market wages, which may have been more than the capitalization of the company two or three years ago. I think being aggressive in hiring senior executives is probably the single biggest area where I see first-time founders struggle. So repeat founders, I mean, I've met repeat founders with companies that only have one or two customers, but a management team that's equipped to run a 50 or $60 million company. Repeat founders really understand that hiring that senior team early is just super critical to their success.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “Where do you see commonal People struggle with the Maybe the To overcome. Well, let me start with your last question, which is what's the hardest part? I think the hardest part is hiring. As a founder, you're in this mode of trying to scrap by without very much capital. You're always asking yourself, is this going to work? In some cases, you've got a spouse. I just simply remember my spouse asking me, hey, is this going to work? It's a very stressful time in your life. You know, when I started my second company, I think I was 33. And we just had our first baby. And, you know, my wife was working. She was working on the for a training operation. had to be in the office at 4 30 in the morning and so she'd come home in the afternoon and say hey this startup thing you're working on like is this going to work and you don't know the answer to it it's a very stressful time in your life and so getting out of that mode of sort of ptsd of like is this going to work can i afford to hire other people can i afford to take on the risk and obligation of other people's careers and their lives is a big deal and so transitioning into a mode where you then you raise eight ten twelve fifteen million dollars maybe 10 a series a or a series”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Anyone who has gone through went through the Bubble Or who went through the 2008 or 2009 has a very distinct view of what that's like. And I'd say With one, it's totally out of your control. So there's this dynamic in the market that you think is sort of slowly happening and that it really builds into a crescendo. And it just wipes out entirely. And industries and companies. And that's the one thing I remember from 2000-2001 all these amazing companies that we thought. And really well run, we're just decimated.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “And got to know the team. And then May of 2008, I joined GGV. Interestingly, having been When I joined, I told my wife, I said, I'm going to do this for two years, sort of learn the venture side of the equation, then I'll spin out and start another company. And 11 years later, I'm still here. So it's been”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “That company to Verisign, which is a public company in 2005. And my partner and I owned 80% of the business, so the terrific outcome for us. I then spent three years at Verasign, which was an amazing experience, you know, six, seven, eight billion dollar public company, and met some just amazing people who I'm still friends with today and have learned a lot from over the rest of my career. But in 2007, Glenn Solomon, who I know you've had on the show, called me. He was a partner at GGV and somebody I had known for several years. Actually, I pitched him on my second company in 2003 and he turned me down, but we kept in touch. And, you know, to the testament of lifelong relationships, he called me in 2007 and said, hey, GGV, we're growing, we're doing well, we're expanding. I know you've got some experience in Asia. We'd love to add somebody with an entrepreneurial background to the team. And we spent about a year getting to know each other, believe it or not, it was quite a long process on both ends. I attended several”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Quantum shift and really started at kind of the marriage of the Internet and the telecom spaces, which had also deregulated at the time, and ended up in this amazing five-year journey that was interrupted by the dot-com bubble in 1992 and 2000 where we raised over $100 million in venture capital financing for our business, which was a lot of money at the time. It's fairly standard now that it was a lot of money back then, and then watched it all come crashing down in 2001 and 2002 as the market just completely turned on us. Unfortunately, ended up being a zero for me. I went from being a fairly high profile founder in Silicon Valley to being sort of worth nothing and having to pick up stakes and start over again. And I got married in 2002 and then started my second company in 2003, which we kind of did the opposite. We raised a million dollars from angel investors and some successful folks in the tech community and then turned around and said,”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “I didn't follow a sort of traditional career path. I grew up in Seattle. My dad was an entrepreneur. I grew up in an era in Seattle where a lot of folks were entrepreneurs. It was back in the day before we had Microsoft, before we had Amazon, very grassroots companies that really were part of the scene in Washington State. And I then went to college at Dartmouth College on the East Coast and then moved back to the West Coast in 1995, which turned out to be amazing timing. I mean, I landed in Silicon Valley right as the Internet was starting to take off. Amazon had gone public, Netscape had gone public. And I just had this burning urge to get out of the sort of corporate world and join the startup world. And so in 1997, when I was 25 years old, I started my first company. And that was a company called”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “Part Thanks for having me. It's an honor to be here. Boden too, listen, I would love thee to start with a little bit about you. So tell me, Jeff, it's a very, very strange.”

    2019-03-04 · The Twenty Minute VC · 20VC: The Transition From Founder To CEO, How To Determine When To Stretch On Price in Venture & The Benefits of Attribution for Partnership Dynamics with Jeff Richards, Managing Partner @ GGV Capital · IDENTIFIED FROM THE TRANSCRIPT · source