YouSaid · the spoken record

Joanne Wilson

lines on the record: 70
first: 2017-11-28
most recent: 2017-11-28
sittings or episodes: 1
sources: podcast

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“Interesting what you're doing. I would love you to come in and talk to me. She came in and talked to me and ends up buying four of the investors. I think that the cream sort of always rises to the top in any industry. And I've also learned a lot that just because there's really good people in the investment doesn't mean it's a good investment. And so it's really about following your own gut in regards to what makes sense to you. I think where I've seen red flags, I've gone back to my own self and said you saw those red flags. You knew those are red flags. You ignored those red flags. And now I don't, I'm much better at pulling back and saying, okay, what were the red flags here?”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“For sure. It was pretty organic. I mean, everything I've done is very organic. I mean, I really have never been, I mean, even when I started blogging, I didn't do that linking to everyone and all this stuff. I just sort of put it out there and saw what happened. I just had other things in my life that I found much more busy that I didn't have time to really promote myself. But I started hearing from people, I think, more through my blog that particularly women who were interested in talking to me. And they found it really hard to find capital. But I understood their businesses. And I also understood them. And so I really made this conscious decision to invest in women and to be a supporter of female founders. And then everything just started coming into my box. I mean, from people like Tish, who would say, hey, I'm looking at this. What do you think? Or I'd be like, I'm looking at this, what do you think? Or meeting people and I'd say, wow, what an incredible business idea or like I met a woman at a party and I was like, this really...”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“They just could not work for someone. They need to work for themselves. And you can just tell by the fact that they're trying to disrupt everything and rethinking the way things are done and they have an attitude about how they do things. I mean, I remember once doing a panel, I was the moderator for four women and I asked all of them what they would do if their businesses didn't succeed and they all were hysterical. They're like, we'd start a new business because I'm unemployable. And so I think that a really good entrepreneur is probably a very interesting human being that is not employable in a large company.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“You have zero fire in your belly. Like what you're doing is actually a really good idea, but it's too bad it's yours because you are never going to be able to be successful as an entrepreneur. I mean, maybe this is the wrong business, but she just didn't have it. And so, I mean, I've seen them all. I've seen men come in with these great ideas and their chests puffed out and they don't know the answer to simple questions, but they answer them anyhow because they want you to believe they know everything. And so I really, and now I'm also better at who comes through my, you know, door just because I only have so many hours in the day. But you do. You meet these people and you're just like, wow, these people are going to figure it out no matter what comes their way. They're going to evolve their business in the right way. And it's going to work.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I remember years and years ago, this had to be at least seven or eight years ago. So I'd been at it for a couple years. And this woman came to see me. And she had won an award, one of those, you know, I think Stern school, someone wins the number one new idea and then everyone wants to fund it. And they get really great people to judge it that year. And she had won one year. And everyone came rushing over her because they wanted to put money into it. She didn't take the money. Very female thing. I'm not ready for the money. My company's not ready. We're not quite there yet. You know, the guys would be like, just make the check right here, right here. Here's who you make it out to. And so she head down year later, she's like, now I'm ready to raise money. She came to see me and I didn't give her a penny, but I remember when she was sitting there talking to me, I'm thinking to myself, wow.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's sort of like the William Gladwell theory, right? I mean, do you know how many people I've met at this point in that business? I mean, at this point, you kind of get a byport. But, you know, I will even say as an angel investor, I remember...”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that's innate I mean, God, I was, you know, I had lemonade stands when I was like three years old. I had a cinnamon stick business when I was in fourth or fifth grade. I created concerts in my backyard and I charged everyone in the neighborhood money to come. I mean, I just always had this guttural sense of how does this make money. And so I just think that's... Business is something that's always been part of my DNA.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, I knew Locke and I had met him peripherally and I knew Nick Denton, who was an investor, and Locke had worked for Nick before he started this company. And I did not know that they were looking for money, but actually my husband came home one day. And I think I said to him, it's really unfortunate that you wouldn't invest in a company like this because it's not part of your investment thesis. But I'm telling you, this is the future of media. And he literally came home the next day and he said, I happen to see Nick today and Lockhart is raising money for curb media. And I was like, wow. And he said, you should go talk to him because you should invest in that. You'd be really good investing. You understand how to make money. And this could be your next career. And so I called up the phone. I picked, you know, I emailed Locke. We got together. And I was like, I'm in. I love this. And I sat on the board.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's hard to make money in media because the only real way to create capital in media and revenues is ads. And so you are beholden to the ad industry based on where they are and what's going on in their world and how much they want to buy that year. And so it's hard to make money in that particular industry. But I still think if you have enough eyeballs, there's other ways to translate that. I mean, a lot of them are selling commerce and you can get sponsors. Events are really big. But in general, I think if you build a really interesting media platform with the right amount of eyeballs, there is an option for you to sell to some of the large media companies that are in need of a new audience.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Describe the model. So curbed eater and rack. Curbed is real estate. Eater is food. And racked is the fashion space. And what they would do and still do, now they're owned by Vox, is they post At that point, four to five times a day articles around what is happening in, let's say, the food business of his eater, the restaurants, you know, what was opening new, who were the gatekeepers of the restaurants. I mean, if you're into food in New York, you were reading this a couple times a day. And so were the people that running the restaurants.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“My first investment was a New York based company. My first investment was Curb Media. And so I was watching curb media and I was watching Eater and I was watching Racked and I was reading these posts at least two or three times a day. And I was fascinated with them because to me who loves and consumes media, this is how we were going to take in media in the future. I mean, that was over 10 years ago. And I didn't think that we were going to have the deaf magazine, but I did think what made them really unique is not only were they to see, they were also B2B. So if you're in the industry, you were reading these publications online at least a couple times a day.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, it's really an insane over the top, great Gatsby experience that you walk in there and you're like, I am in New York. I mean, even if you just go to the bar and have martini, it's just, it should be experienced.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I mean, you know, I have to say that I've been having a really hard time in Manhattan restaurants. I love, I'd like to spend more time out in Brooklyn eating. But, you know, I have to say, like, I'm not on a Tuesday night at 6.30 or 7 o'clock. Then I'll go out to Brooklyn and eat, you know, because it's going to take me 40 minutes to get there, 40 minutes to get home. And so I don't participate in those restaurants as much as I like to, but more on the weekend. I will say the food isn't like, oh my God, but the grill, I loved the experience. Where's that?”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Totally It's completely different. I mean, I know there's a couple companies that I've invested in. First round, even first dollar in, they move forward, some of them I continued put money on at every single round until I feel I have enough at risk and then I'm done. Whereas others I look at the term sheet on the next round and I'm like, okay, this is ridiculous. It doesn't make even sense for me to put money into this next round because the amount of money I'll make in that next round is irrelevant. So I'm just going to stick with the first round because that could easily be a big hit, but the rest of them won't make any sense.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Old fashioned, like I am the new bank, but I certainly would like to see companies become huge, but based on this generation of millennials, the next generation of entrepreneurs, the ability to create companies that are global that might only have a very niche business that only 40 million people want to be part of, not 300 million. And so I think we're going to see many more businesses that are not going to be the billion dollar businesses, but they're going to be the $100 million businesses. And so that changes the perspective in regards to venture money and investment thesis.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, completely. Also, as an angel investor, going back to investing is that I'm okay if a company is only going to do $30 or $40 million. And maybe I just get money every year back in regards to its tax differently.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I remember thinking all the smalls coming back, all the big is out. We're going to see more and more of that. I think we saw small happen a couple years ago, but I think it's going to be again more intimate. We're also seeing these huge expensive restaurants. So it's like the great Gatsby era. I don't know how they're going to actually survive because you're seeing real estate in New York City. You can't sell anything over $10 million because it was all built for foreigners who aren't coming to invest in New York City anymore. So it's all sort of connected.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, certainly the food industry is changing. And it is an area that there needs to be a new paradigm in because in the regards to the restaurant world, you know, you're seeing these restaurants where the real estate is ridiculously high. They need to pay the person washing the dishes $15 an hour. Now there's a family leave. And so you really can't afford to survive in New York City. And so I think all the interesting new restaurants are coming in Brooklyn, not in New York City. And you're also seeing the next generation of people that maybe started in the restaurant industry when they were kids. And so in order to actually get inexpensive and not too expensive to make money on the food, you really have to make things that are ethnic sort of foods that have a different way of the way that they're cooking, that you're not giving someone a big slab of beef that you need to make certain margin on. So I think we're going to see a lot of that and we're going to see a change in regards to how restaurants are run.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's a mixture because certainly you have to be a risk taker and feeling very comfortable around risk to the point you don't even think of it as risk and you're looking at the world in a very big picture sort of in the cloud way that you look at everything that's going on around in the world. And so when I look at investment in companies and I meet people and many times I think, wow, that makes so much sense. That's filling a void in something that I've been seeing that you're looking to fill. I totally get it. Or other times people come with ideas like, oh, there's 300 people doing this. It doesn't interest me whatsoever. And so it has to do with looking at things broadly in order to focus on something really small that you see that this makes sense to me.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's multiple things. First of all, you have to read as much information that is absolutely ridiculous for your head. I always call it cocktail fodder. So it's blogs, it's magazines, it's getting out there, it's seeing what's happening, and I don't read as much as, let's say my daughter does who does the same thing. I mean, good God, you know, she reads this stuff all day long. But I also think it's about knows, and I think a lot of it is innate. My grandmother was really good at like seeing things coming down the pike, was always on top of things. And I've always been that way. I mean, I've said things that have been from furniture to fashion to food to neighborhoods. And I was like, and then I'll go back and say, remember five years ago I said this? And it's just like, I think it has to do with a guttural of having your finger on the pulse.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source