YouSaid · the spoken record

Josh Kopelman

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54

first

2020-04-28

most recent

2020-04-28

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1

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podcast

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1. “Expecting a V shape recovery. I think most people are expecting a much longer recovery. And therefore, the people that are starting companies today or that are thinking about starting companies in the next few months are going to be the true believers, the true entrepreneurs, and the tourist imposers will have gone home.”

   2020-04-28 · Invest Like the Best · Josh Kopelman - The Past, Present, And Future Of Seed Investing - [Invest Like the Best, EP.170] · IDENTIFIED FROM THE TRANSCRIPT · source

2. “So I think right now you have yet to see the change in the market. Anyone who's out fundraising now was pretty much working on their idea before COVID-19 hit. What I can say is looking back after the dot-com crash in 2001 and looking after the Great Recession of 2008, what tends to happen is that the tourists go home. As the economy has boomed or as startups have access to capital, that capital to some degree the constraints on that capital reduces it gets easier and easier for people to raise capital and more and more people are willing to start companies and take that risk. I think what tends to happen now is you get more of the true believers, more people who are willing to embrace a true amount of risk given the fact that you're just dealing with the massive uncertainty regarding a fundraising environment. There's just so many scenarios that people don't know. Some people still think”

   2020-04-28 · Invest Like the Best · Josh Kopelman - The Past, Present, And Future Of Seed Investing - [Invest Like the Best, EP.170] · IDENTIFIED FROM THE TRANSCRIPT · source

3. “And VCs say we're still writing checks. That's exactly what they said in 2008 and 2009. And the first quarter of 2009, the venture funding was less than 50% of where it was in first quarter 2008. So we have yet to see it sort of play out in terms of the new funding environment.”

   2020-04-28 · Invest Like the Best · Josh Kopelman - The Past, Present, And Future Of Seed Investing - [Invest Like the Best, EP.170] · IDENTIFIED FROM THE TRANSCRIPT · source

4. “Quickly Sure, so I think that the job of a CEO is to predict the future or invent the future. And oftentimes you're trying to deal with an uncertain world and your aperture is set to a certain range. Right now, just given the period of uncertainty that we're going through, the aperture is so broad. If I was to differentiate, I think there's two different challenges. The first is companies that have already been funded. So companies that raise their seed funding in the last sometime in the last 18 months, they raised a certain amount of money and they have a job to do with that money, whether it's to build a product, to generate product market fit, to get to market. And those companies are all now quickly recalibrating how much capital they have and how much runway they have to companies their job. For new companies, I think they're trying to deal with the fact that VCs say they're open for business.”

   2020-04-28 · Invest Like the Best · Josh Kopelman - The Past, Present, And Future Of Seed Investing - [Invest Like the Best, EP.170] · IDENTIFIED FROM THE TRANSCRIPT · source