YouSaid · the spoken record

Josh Browder

lines on the record: 119
first: 2026-05-18
most recent: 2026-05-18
sittings or episodes: 1
sources: podcast

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“I think that they're going to find a cure to a lot of diseases. My grandmother passed away from Alzheimer's, and Alzheimer's is like one of the most difficult diseases to crack. And I think AI will hopefully make a big dent in that.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think he is the most curious of the luminaries. I think he spends an immense amount of time reading on X, and people see this when he's liking all of the ex posts. But I think that speaks to his curiosity. When I met him, he was referencing obscure tweets and things that are part of my Do Not Pay Journey. So he really, really reads a lot about everything.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Seriously, Pierre Crawford, I've had the Russians. You are nothing Wandsworth City Council I think definitely Mark Andrewson.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Definitely, it puts everything into perspective to just be fearless. I've physically seen the Russians. Like they've come to our house, like knocked on the door. That news alert where he was arrested. Growing up through all of that, it puts everything in perspective. And so when maybe there's a bureaucrat who's upset that I'm getting too many people out of parking tickets or things, it's all noise. It doesn't really matter.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm not sure. I think I really believe in them. It's so lame, the reasons people invest. Oftentimes they invest because someone else has invested. Oftentimes that's like 75% of the time. But I really believe in them to do great things. And I'm their first believer often.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I have a founder. I don't want to say too many details because I'm under Ultra NDA, but I was a personal investment, one of my earliest investments. They lost my money. They went on to start an absolutely blockbuster company. And they gifted me the shares in the Blockbuster Company as if I had been an investor at the same price in the Blockbuster one. And I think that's a very upstanding thing to do. I think it's almost a very British thing to do.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“A class at Stanford. It was only 20 people. I was focused on building my business, not necessarily focused on classes. And it was taught by a billionaire, Pat, Hanrahan, who's the founder of Tableau. Just the fact that you can have like billionaire professors teaching classes of 20 people is something that wouldn't exist anywhere outside of the Bay Area. And I remember working through a problem set and he was like spending like 30 minutes with me working through this very elementary problem. And I was thinking, why is he spending his time? And then I realized it's all about human connection.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I would actually say Aliani. I think he's in a very crowded space, but he is a force of nature in terms of execution. Watch this space, I think, in the next 12 to 18 months. He's going to be very hyped.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that the AI shift is extremely real. I thought 12 months ago it was a bubble. Now I don't think it's big enough. I think Anthropic will get to a trillion in revenue. I think the value shifting is very real. We're not in a bubble. That's why I think”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I didn't. And also, why are they charging that VAT on investments in the UK and some investments? How can you charge a sales tax on investments? Who thinks that's a good idea”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Have to get rid of these ridiculous regulations. I made a mistake of trying personally to invest in a company in Germany. Oh my God, there was like a note. I do not pay. I'm an expert in bureaucracy. I didn't want to do it.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“And another thing about San Francisco is it's so boring. All of these people, no one specific, which is all of these people, they're so bored. If you're just like moderately interesting, you can become friends with anyone in San Francisco. It's less stratified. In London, the rich keep to themselves in their fancy clubs. In San Francisco, you can play pickleball with anyone.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Think you're right in some ways, and there could be an arbitrage where the leadership lives in San Francisco, but you get talent globally. Deal is a great example of that in some ways. I guess it's also New York. But San Francisco has such serendipity. You bump into Sam Altman on the street. I've seen personally seen Sam Altman on the street.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“The most successful companies in the UK are in the like tens of billions range, like Ravolute and things, great outcomes like that. In the US, it's in the trillion. And it's just an order of magnitude more”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“For the idea I was working on, like the UK is repressed, they are perfect target market for do not pay. I tell people in the US about some of the things that go on in the UK and they're shocked. So one example is the concept of average speed cameras. So I tell my friends in the US, if you drive from here to Birmingham, which is a city north of here, for those who don't know too quickly, it's not about if you go past a speed camera too quickly, if you get there too quickly, the average speed, they'll give you a ticket. My US friends are shocked by that. They think that's like some sort of surveillance state. And it's true the UK is like handing out tickets, all these fines, all these environmental regulations. It's just fine topia. So I think for the specific idea, some ideas work better in the UK. And so that's why I started here. So those are the two positives. One huge negative is the scale of ambition in the US is 100 times bigger.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“My mother actually, you're the only tech podcast for my mother listens to because she really appreciates your wholesome mother content on LinkedIn. So she really is a big fan of you. And I'm not just saying that. She's not in the tech world. She doesn't really know how to use iPhone or anything like that. She was just worried, you know, as any parent would be. And actually, when I went to meet the CEO of Prata Manger at the headquarters, she was actually worried because I was 14 that maybe, you know, it was inappropriate or something. She said, I want to come with you. I said, no, mom, it's a business meeting. She said, no, I have to come with you. I don't want you meeting strangers on your own. So she was more worried about the personal thing. Anyway, going back to UK, building an iPhone app at that time in the UK was seen as cutting edge, like WizKid Genius style thing. In the US, people were building iPhone apps every day. And that gives you an idea of why it's better to be a big fish in a small pond. Second advantage of the UK is that”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“So they didn't realize it was 14 at the time. They didn't realize it was a 14 year old behind it, and they were considering taking legal action, but they realized that once it was a 14-year-old behind it, it would be a terrible PR thing for Pratamanje to sue a 14-year-old. And so they actually invited me to the headquarters and we made it the official app. And that taught me a very valuable lesson growing up, which is it's best to ask for forgiveness versus permission.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so I don't want to denigrate my country too much. I'll say two advantages and then one huge disadvantage. One advantage, it's good to be a big fish in a small pond. Starting out in the UK, it's kind of less competitive for talent, less competitive for media even. Like anyone can get on the front page of the Daily Mail with the right story. The media in the US is much more jaded. So it's a lot more noisy, a lot more competition. And actually, when I was growing up, the very first thing I did was I created iPhone apps. I built the iPhone app for Prata Mager, the sandwich chain. Yeah, I built the official iPhone app for Pretamonja. I actually did it unofficially. I just made it for fun and then ripped off all the graphics and stuff and then it eventually became the official app.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Good in some areas, terrible in others. I think for the travel use case, it's terrible. There's a big debate on X going on about this right now. The reason it works for us is you're taking kind of unstructured responses and making them structured. When I started to do not pay, I did a Freedom of Information Act request in the UK for the top 12 reasons why parking tickets are cancelled. Poor signage, the parking bay being legally too small, all of the reasons. The reason I did a chatbot is the consumers had no idea which reason to pick and they'd pick the wrong reason or they just wouldn't select what was the best thing to pick. So when I did chat, they could write whatever gibberish they wanted and it would match them to the correct defense. And that was really the unlock of do not pay.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, now with Starlink, that will finally be solved. I think Do Not Pay as an ETF on the world's problems and some problems go up, some problems go down. Fortunately for us, the general trend of problems is up.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Definitely bill negotiation. If you phone up the utility company and say you're going to switch to a different internet, they will by default give you a discount. The internet barely works sometimes. They don't credit you properly. So that's number one. I was also saying in-flight Wi-Fi. We have 100% success rate with in-flight Wi-Fi refunds because it works, but it's slow and it's not what they advertise. Have you tried Europe?”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you always have to remember who believes in you and do right by them whatever it takes. Some of these companies are up, 100x, 1000x. I brought them in alongside me, sometimes Dirac not even the SPV, just like Dirac, they can invest directly. There's a huge amount of overlap between do not pay in my fund in terms of LPs, like Mark Andreessen, the first believer in both in some ways. So I think you just have to do right by people. I think there's advantages for both LPs and also investing and being a founder at the same time. On the founder side, I've learned things that I wouldn't learn had I not invested that's helped do not pay. For example, this whole SEO strategy. And on the investing side, founders love to work with other founders. They hate professional money managers. So I think it actually makes you a better investor. And you see some of the best investors now. They're also founders like Lockheed Groom or Deleon. One thing I love about tech is you can”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think it depends. If it's like a small part of one steak, and the good thing is these things can be sizable and you only sell a small portion, then there's not much signaling risk in that. Additionally, it sometimes helps the founders. Oftentimes they're so performing so well, their rounds are so oversubscribed, they want to let someone in and they still have me because I have the rest of my stake, but they can bring in an amazing new name that helps them. Maybe someone's strategic.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Going back to the sharks thing, when people say that the things that are most attractive to the secondary bias, you never want to sell. But we're finally selling some now.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“We're doing some now, actually. It's a lot easier to do a secondary when you're friendly preseed seed investor than if you're a big firm. If Menlo Ventures sell secondary in a company, the company is dead because the signaling risk is huge or any firm, but with a pre-seed firm that's not necessarily true and the fund sizes are smaller so it's easier to achieve good outcomes with secondary. So I'm not too worried about it because of the secondaries market which seems to be more active than ever.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think secondaries are increasing driver of kind of exits. That's why it's helpful to be on the smaller fund size because it kind of opens up a whole new channel.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think so, and I think there's this illusion that the valuations are lower than Series A, so it's less risk. But sometimes the best place to be could actually be investing a billion where it's de-risked, you can model the cash flows”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“All of my bass investments have actually been in very competitive markets. Owner as well has dominated a category that's traditionally very competitive, small business restaurant technology. There's a reason it's competitive. The competitive markets tend to be absolutely massive. They tend to have a huge number of customers and that's why everyone is going for them. Going to the kind of data labeling example, it's not unusual for large labs to throw these companies 100 million even close to a billion dollar contracts. And so I think there's a reason everyone is excited about it.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. It's objective. You don't need, even with do not pay customer support, we're seeing optimizations. Previously, you had to hire like three people to do the job of one person now. So we do have like 10 extra contractors for customer support. We found that maybe even that, that's too many. Now they press a button and an agent kind of identifies the issue and pre-processes the refund, for example.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it depends on the company. With meta, I think it's AI driven. It's clear that they're spending so much money on their data centers and AI has made their engineering more productive. They need fewer engineers. But maybe with a company like Block, maybe it's controversial, but I think it's more about the COVID overhiring.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that inflation every year is just going crazy and it's just going to get worse. House prices in SF seem to be doubling. Things are not what they used to be. And the only way to stay ahead in this AI world is to have real assets”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. I think that whether you agree or disagree with what's going on right now, it's objective that for tech, the current administration is a lot better. Lena Khan, in my view, is evil. Several companies I invested in, they had their acquisitions blocked by the kind of Lena Khan style approach. The worst kind of Lena Khan story I heard is there's like a biotech company that was being acquired by a much larger kind of pharmaceutical company. And Lena Khan's FDC blocked the acquisition and the drug didn't get developed. And to this day, 50 people die a year because of the acquisition being blocked. So I actually think that the kind of tech policies of the last administration were not very good.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm an optimist. I think that the jobs that will exist in 20 years we couldn't even imagine what jobs would exist. Like AI data cleaning, like these companies like Mercor and Micro One, those jobs didn't even exist five years ago. And I think similarly, AI will create a huge number of jobs, maybe working in air conditioning and data centers and all of that stuff. The problem is there'll be a shift in the economy and people will have to transition. And I think the government will have to get a lot better at helping people transition.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“It's not sustainable. You can't have 50,000 people with all the money. I think actually there could be a revolution in our lifetime. Something has to change.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that's like secular trans regarding it being very pro business population growth. Three things are true in Nevada. There's no state income tax, there's very low property tax, and it has a rising population. That is not true, in my opinion, anywhere else in the US. So if you compare it to Florida, for example, there is no state income tax, but very high property tax.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“In terms of my diversification, retirement, I take all the money I make and I buy land. I don't put in the stock market. I don't keep in cash because I think that the dollar doesn't have a good future. I don't buy bonds or anything like that. And I buy land. It could be being British. There's a famous quote from Winston Churchill. Land is the only scarce resource. And I think I'm diversifying on two outcomes. The first outcome is that AI creates like a post-economic world where it replaces all big companies and the only thing that's scarce that's left is land. And so AI doing extremely well, land can still be valuable. And then the second is maybe it's all a bubble and all of tech goes to zero, but land will still be valuable. And the land I buy is in Nevada, far away from the tech bubble. It has like nail salons and all sorts of things. It's passive investment. And it's just”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there's a lot of pain happening in San Francisco at the same time. I think a lot of matter employees are being laid off. A lot of big tech employees are being laid off. I think there's like two types of goods. There's like absolute goods, like a standard apartment or some food and things like that. And I think the price of that will stay the same. But then there's like positional goods. There's only like eight seats in Delta first class. There's only eight houses where they want to buy it like on the best road in San Francisco. And the positional goods will just go off the charts. So if you're someone who values your success in life by attaining positional goods, like one of the eight houses that everyone wants to be in, good luck.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there'll be a rise of medium sized businesses almost do not pay that fill the niche and then these massive companies. But the middle where there's just like a large company, I think they have to be very worried. I was saying to a friend, for every anthropic employee who's making 20 to 100 million, there's 7,000 block employees being laid off. I think there is a huge transfer going on between the extremely large companies and the quite large companies. But I think the smaller ones will still have a role.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think custom evals. Everyone is very excited about foundation models like Claude Code and all of this stuff. The future of AI will actually be organization specific, specifically around the data that do not pay has, where we're doing evals on our own data. So I think custom evaluators will be really big.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, that would make a great product. So we're trying to hire people to scale themselves. My very first hire I do not pay. Obviously, I built the thing myself. The design looked terrible. It gave me a headache. It was like a moving road background. You would look at it and it'd give out early users headaches. We'd get complaints. People would get headaches from the design. So the first hire for me was a designer. So you need to like immediately solve these bottlenecks quickly.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so stay away from the strategy hires. Strategy is a meaningless hire because what does that even mean? Everything is strategic. I think connection to the problem is really important, similar to investing. Do not pay employees. They're scaling themselves. Like we had one do not pay employee. He would go to target the U.S. retailer and he'd buy prepaid visa gift cards so that whenever he would sign up for a free trial, they wouldn't be linked to his direct debit real payment details.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think business score is actually a counter signal. I'm not going to be very popular among the business school people. I agree with one.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, which when I was fresh off the boat from the UK dropping out of college, that seemed like the world of money. But in the grand scheme of things, given the scale of our business, it's not actually that much money.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“So we have more money than we've raised, and we're actually doing another dividend next month. So it's like quarterly. Yeah, we're planning on doing it now quarterly. And the investors, I think it works for us because the investors got in at such low prices. We didn't raise $100 million. We could have at the peak of 2021. You raised $20.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think from the very beginning, we were always, I mean, the clue is in the name do not pay. I joke, it's not just a company, it's a lifestyle. I'm like Mr. Do not pay. And so we never wanted to do anything stupid. And when I was hiring my friends, I was always hiring the people who are like browsing Reddit at 2 a.m. trying to save money. I think this is controversial. I think founders who burn all the money, I think that's not cool. I think it's kind of lame because why did they run out of money? Why didn't they just cut the burn? And obviously some founders fail because of some black swan event and I can understand that. They take a massive swing and there's like some huge litigation or something, a patent thing that Apple crushes them or something. That makes sense. But if they just run out of the money, that's not cool. That's kind of lame. They should have just managed their burn better.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“So GEO, the AI version of SEO is rising in parallel. So we're not too worried that people will always rely on some acquisition channel. Fortunately for us, we haven't yet seen it because one of my life philosophies is the world doesn't move at the pace of San Francisco. A lot of our customers are from Middle America and actually the UK. I mean, Google is still huge. So it'll take a while, but we are definitely ensuring ourselves with lots of GEO related strategy.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Not pay in some ways is a media business. We get 90% plus of our customers organically through SEO, unmedia, like viral stories and referrals. And so we're not playing the meta spend 100K a month on meta game that some other founders are playing. And that is a double-edged sword. It has positives and negatives. The positives are it's extremely efficient and profitable. We have hundreds of thousands of customers and it's only a team of 11 people. It's automated, fully automated, so it's like very efficient. The downside is we can't just decide to dump a million into Metar ads and grow by X percent. And so the organic is kind of a ceiling. Another ceiling is that coming from the UK, I've always wanted to build a real business. We had a competitor in the 2021 peak. They were spending like $300 to acquire a customer worth $150. And they actually managed to sell at the peak of the market.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I tell them the market sets the price, and it is price optimization, a function of how many offers you have, so you should never say what price you want. And of course, they ignore my advice and then they get hit with, oh, I'm passed because the price is too high. When the VC would probably would have given them an offer and that would have actually helped improve the price.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, no, I definitely not. If they're running a process, it's too late. I want to help them with that process. And I'm very collaborative. I typically take five to seven percent. I say to them, and I really think this is proven true, I will save them that over the life of the company, even if they have the most top tier people, I will save them that through various founder tactics, helping founders at 2 a.m. even raise their series C. It never ends. I will make it worth it for them. It's not like I'm trying to get like 25% of these founders.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source
“I say it's probably not a fit, especially given my investing model. And I want to, there's so many ways to win. I'm sure that they might win or not, but that's not a fit for me. I say good luck.”
2026-05-18 · The Twenty Minute VC · 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder · IDENTIFIED FROM THE TRANSCRIPT · source