YouSaid · the spoken record

Marcelo Claure

lines on the record: 45
first: 2023-07-31
most recent: 2023-07-31
sittings or episodes: 1
sources: podcast

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“I want to be Was Sequoia China is to a Chinese entrepreneurs. I've had a chance to visit China and the gold standard today is when you are part of the Sequoia China ecosystem. And we make no mistake. We went to visit Nil with you. We spent time with him. We spent a lot of time with entrepreneurs and we asked him, what's a great fund for you? And 99% of them, the best ones basically list as Sequoia China, and they gave us the list of services. So we have a very deep alliance with Sequoia China. And we say more Sequoia China with Neil Shen. And I like Neil a lot and I respect him. And I think we want to build something that is similar to that. I want to make sure we're relevant. I want to make sure that we don't miss the new banks. We have had a role to play, either in the beginning, in the middle, or towards the end. I think we have that opportunity because not a lot of people are in Latin America today.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Which I think is good. There's going to be only very few funds that actually create value that are going to be able to raise money. And I'm talking the next 10 years. But, you know, the source of capital is getting incredibly smarter at accelerated pace in terms of going after the best companies. And the best companies know that in many cases you can skip the intermediaries. And when you have so many intermediaries, I believe that the best will survive and the best will thrive. And that's what we're betting on.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“We were going, the whole world got overly excited in the world of tech investing. You have crossover funds. You have corporate, everybody who suddenly became a tech investor. And a lot of people learned their lesson. And you have a lot of these funds who we all admire. When you look at the true returns, are truly disastrous. I believe, and this is why I love my partnership with you. Being an operator, you know how to operate business. You understand what it takes to scale. But there's an art of investing. So to me, operating is a science, investing is an art. If you can combine both, I think we're going to have something really, really special. The venture world is starting to shape up where all these people who thought, hey, let me just mark up a term sheet. Let me, because I am betting that somebody's going to come and six months later put a higher valuation, and that's how we made our money. I mean, that was a poncy scheme. Now we're going to see who actually got caught in that. So fun times ahead.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“An amazing highly successful people love to share. Like you have the same thing. When I call Mickey, and not only Mickey, you can call successful people are actually hungry to share. And you would think they wouldn't. That's why they write books. That's why they get in podcasts. That's why they do these sort of crazy things. And, you know, that's admirable of you that you're able to, that you actually go people to learn more.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“We are lifelong learners. I am bothered of my not so big knowledge within the AI ecosystem. So now I became a Harvard executive fellow and I'm in charge of one of the biggest labs, which is the DQ Lab, which is the AI Lab at Harvard. I work very closely to always keep myself informed. And you're able to leverage an incredible ecosystem of incredibly intelligent people, Harvard, and be able to bring that knowledge into what I do for everyday living. If not, it would be impossible for me to try to learn it all myself. So now I wouldn't consider my expert, but I have pretty good knowledge of what is going on the AI world. And you always have to find clever ways to be that. I tried to do that within blockchain, and it was so massive. And people were sharing information and you were just investing in momentum. I'm never ever going to invest into something that I don't have a good level of understanding.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“I broke the golden rule because I didn't want to be the only guy left, considering I was in charge of also doing crypto within or blockchain within the SOPANC ecosystem. Big miss, and a big lesson.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Don't even want to tell you, but do not ever invest in things that you don't truly understand just because of FOMO and remember it was one day before and Sam shared with me the list of all the investors. I was very lucky, right? I had a tremendous amount of decision range within South Bank. I can honestly say that my entire investment life massa never said no to any investment that I ever decided to do. And I went to Masa said Masa. I just cannot understand what am I missing? Why is everybody investing? Are we going to be the only idiots who are not going to invest in this? And then Masa looked at me and said, your decision. So I invested $150 million on FDX, which, I mean, apologies to SoftBank because that should have never made that investment. But it's probably one decision that has changed my life forever. I'm never going to invest in something that I don't truly understand and I'm never going to invest based on what everybody else is investing. That's going to be a great learning lesson for me of to never break those rules.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Those are ones that we miss. I'll tell you one that we did, that was a terrible miss, and I was at DX. I did that myself at Solftbank, and it was one thing that probably taught me the best lesson ever”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Pubming Newbank, we didn't get there earlier on. We were stubborn in evaluation, and the founder was more stubborn, and the founder won. And I think now at the end, you know, I'm a huge personal investor into Newbank. I got Softbank to be an investor into New Bank, but we were so new. I think it was our first week, and we just said, no, this is it. And we were wrong. So I always tell people it's hard to say you're a great Latin American investor. Having missed Neubank at the beginning. And I say it publicly. And we bet on another horse and that horse didn't perform as well as Nubank did. So I made a lot of bad investment decisions in my life, but that one bothers me because it's within my region. It's within my knowledge. If there's one thing that I learn is don't be stubborn and I was very stubborn.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“So back then I used to own Bright Star and I had an idea of how could Apple double their sales. And after many emails to Steve Jobs, which he wrote me back, no interest, no interest. One day he got tired of everybody pinging him that he had to mean me, so he agreed to take a meeting. And that's how buyback and trading of mobile phones got invented. The whole idea of telcos make you sign it to your contract. Apple makes new technology every year. The only way you get people to actually get their technology every year is by buying back the”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“He's more come, he's more thirstful, I'm learning to think a lot, I'm a lot more thoughtful working with you than other people because he has a strong opinion on things”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, even in our investment committee meetings, where I might have a high level of conviction, but my other partners don't, I'm going to retrench and I've done the same. I've been able to convince them most things at the beginning. They say no way. And I think that's what is great. Nobody's the owner of the truth in a firm.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“And we have only two partners, and we were three. And it was those hard discussions that made us be two. And she and I have difficult discussions, but we learned to compromise, right? And I'm a tough person. I usually like it my way, but I tell you that Shu and the other partners that we have have taught me, hey, listen to others. Lately, they're changing my mind more often than ever before. And I think that's what partnership is all about. You got to bring your opinion. You got to bring your boldness. You got to bring and at the end compromise works in a marriage. Compromise works in a partnership. And I think we're building a relationship of compromise where we respect each other's opinion.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Create your own path. Don't follow everybody's footsteps. You're going to be another one of them. And you don't want to be another one. You didn't build this podcast following the normal routine. This place where I'm now is not a normal routine place, no volatile place. Imagine a few, which is where a normal guy. You wouldn't have the amount of followers that you have”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“I think if you're vulnerable to people and hey, we're all normal people, right? I mean, we all got kids, we all got problems, and just bring that on. I don't know. At least I found the combination of bringing work and your normal everyday life together, and allows you to maybe execute better. So I don't feel I'm losing an inch”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Hey, I was a struggling entrepreneur, and it was the same thing. I mean, it was, you know, I wish to have the staff meetings in my house. And my employees became an integrated piece of my life. And I became an integrated part of their families. And so I disagree. Obviously, you got to keep boundaries, right? I mean, don't show up with your kids to a board meeting and ask them to sit in the same table because don't ask for their”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Sometimes people ask me, How do you do this? Because I'm in a different country every day and I'm traveling constantly. And there's one fundamental basic rule of life. Most people don't follow it and they say they do. And that is you got to do what you love. If you love your job, that's your life. Your family doesn't come into it. I'm here, I'm in London, I'm on holiday. But it's a combination”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“more selective, soft bang was a portfolio play this about choosing the winners, trying to avoid any big losses. And the way we're investing in these companies are ones in which I think we're going to minimize the losses and we're not aiming for ten X twenty eggs. We want to make you understand the concept of baseball, which some British people do. This is about hitting doubles or triples in the first fund. This is not about trying to invest a significant amount of capital to generate a grand slam. And we're very cognizant of that. We have no choice than to deliver a great fund because this is the first time fun. You're as good as your last fund and we need to make sure that this is a great one.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“I fell we started something special at South Pike and it suddenly when Softbank decided they don't want to focus there we left a huge vacuum and I personally feel that we have one finished business that we need to go continue. So it's more than just going and deploying capital and generating good returns to me. I set a goal for the team in Softbank and that way that was we need to equalize Latin America. Latin America had the lowest percentage of venture investing as a percentage of GDP of whatever than any other region in the world I think as close to Africa and with Sophan we started something special we equalized Latin America and suddenly that's starting to fade so we need to get back there 500 million is a good start but we're going to require a lot more in the future”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“We have a great Siris seed amazing funds very well governed. Series B series C GA or self QED and a few others. And now we need the pre-IPO and the IPO rounds. But I'll tell you something. You're never going to get there unless we are successful. We need to be successful on B, C and D in order to create that IPO market. Because for great companies, there's always going to be rooms for IPOs. Call it in Brazil, call it in the US, call it in London, call it everywhere. But we need that piece, the piece that's missing, the piece that we're going to go attack in order to create those companies that are going to be ready to do an IPO. So not about the market. I think that's a misconception. There's no big market. No, we haven't had those companies yet because there wasn't that sort of investors, which is what SoftBank started. And we sort of have an obligation. Like if you ask me, why are you doing this?”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“In Martin Evolution, I mean, it's nice to have a local market in Brazil. So that's going to create some liquidity for some of those companies If you're going to be just another investor, opening a new fund into something that's already been done many times, like in the US, that doesn't excite me. What excites me is to go help build an entrepreneurial landscape, which we started with Softbank, generate sufficient exits, and that's going to create all the people who can dream that they can do the same. Latin America is under construction, right? If it was already built, there'll be other people there. And we're builders. We love that. That's what excites me. I've made a commitment to the next few years so we can equalize Latin America. And that's our mission.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“We have different issues or education is way worse, our health systems are broken, so anytime you bring technology to help you with health, people adopt it extremely fast. Education in many cases is pretty bad. So suddenly when you start bringing online learning methods, it's really, really helpful. Transportation was broken. This is why Uber exploded. The way retailers used to mark up their goods made it so expensive that they were charging interest rates up to 80%. So when the data sheen shows up with something that's 70% cheaper, it grows beyond what anybody can ever dream of because you're solving people's needs. It's a different approach.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“and you have to understand what Latin America is all about, right? You have to have lived in Latin America and we have a good group of people who live there. You have to understand how people think in Latin America if you want to be a great investor. I mean, you got to, in many cases, speak their language. It's not about just showing up in Silicon Valley. I mean, believe that those days are long gone.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“To me, I love it. Tourist capital is gone. This is left for people who understand the market, who understand opportunity who are really going to help entrepreneurs. So it's better. It's cleaner. There were people who showed up there in late 2021 because they were like sheep. Rice Sophan was leading the way and they all came behind. I think there's going to be left to two great ones. You know, I have a lot of respect for GA. People often don't know, but if you truly study GA, the great returns have come from Latin America. It's going to be GA. Hopefully it's going to be us. And then the rest, you know, they don't even know what the capital of some of these countries are. So it's great. We like it that way. And hopefully it will stay like that. I want people to be busy thinking about the US, thinking about China, thinking about Europe, and we'll do our thing in Latin America.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“And then secondly, Argentina is great because in Argentina you have something that you can export, which is services people. The amount of engineers, the amount of lower priced labor because of inflation and others. And I think that if you can play in two of the top 10 world economies and be strong there, right? I think you can build a great firm around that.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“And I will add two things right, it expected that both the Brazilian and the Mexican economy will be among the top 10 economies of the world, so it's nice.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Bolivia alone is one third of the world's lithium, so suddenly the prices of those commodities are going to be steady for the next 10 years and Latin America is sitting on that. Brazil will become the largest food exporter in the world. So all that means is these countries are going to be, I would call them economically sound. I'm not going to say they're going to thrive because a lot of people have said that they've been mistakes, but I feel very good about the future of the economy of the two most important markets in Latin America, which is Mexico and Brazil.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“misconception of the region. You ask some people and they think, oh my God, this is the line of drug trafficking, high inflation and constant political turmoil. It's the opposite. You know, Latin America is to me the land of opportunity. And I think Latin America is the only place. There are more opportunities than capital available. Everywhere else there's more capital than opportunities available, which drives crazy valuations and others. And I think the next 10 years are going to be the best 10 years of Latin America for two very, very simple reasons. One is near shoring. Long are the days where companies will have one supply chain and be only China. And if you want to serve the other side of the world, Mexico suddenly becomes a place to serve the US, so near shoring, it's real, very important. And secondly, commodities are going to be an important part of the whole new energy model or the electrification of the world. And few people know that between Bolivia, Argentina, and Chile, that's 60% of the world's lithium.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“That after New York, three of the top five cities were Latin American cities. Latin America economy is one that will take on any new digital disruption and accelerated pace.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“I want to make sure that the team that I've put together is the best performing team. I need to make sure that Shu and Team don't make the same mistakes I've made, and at the end they're going to be running the fund. I'm the chairman of the fund. My dream is for this fund, for them to run this fund alone and let this be fund one of many more to come. People often underestimate Latin America as having lunch with a very prominent Indian businessman. And Latin America, if you add the GDP of Latin America, we happen to be 2X India with one quarter of these people or one-third of the people. So Latin America has a size 600 plus million big population. So there's a lot to be done in Latin America that we just got started our Soft Bank. You look at Nubank. To me, the world's best digital bank. When we were investors in Uber, we had to keep it a secret.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Different times at that point in time in Southbank, the mandate was to build a portfolio play. I wanted to make sure that we were investing into most successful technology companies. That was the mandate of Softbank. And Pat wouldn't call it unlimited capital, but we had a significant amount of capital. So that was our job to go deploy that. This time it's all about quality nor quantity because we have a different amount of capital available to us. We need to make sure that the returns that we provide are absolutely the best. So we're a lot more cautious in terms of which companies we're going to invest and which founders we're going to back and how we're going to allocate our time.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“More will come. I mean, we have big aspirations, but we need to deliver. You win a game playing minute by minute, and we got to deliver the first few minutes, which is this.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Start, right? We didn't have a lot of time. We had an idea of what we wanted to do. I had to non-compete. And to be quite honest, we haven't even fundraised yet. It's Mubarala. Mubarallah wanted to make a bet in Latin America. We've known Mubaralla for a while, both you and myself. And then we called five other LPs. We made five phone calls and the five of them said yes. And it was my family office. So we really haven't started. But what we want to make sure is this time around we don't want to be the biggest. The biggest doesn't necessarily mean you're the best. We want to get started. I think 500 million, maybe a little more, is a good start. And then we'll see where it takes us. But I think we're lucky. I mean, we're grateful to be able to pick up the phone, call six people, and raise the fund, which is probably the largest first-time fund launched in Latin America, in this time where nobody's raising money or very hard to raise money to show up with a 500 million fund a couple of weeks after your non-compete expire. We're blessed, we're grateful.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“So what I've learned from founders and from myself is trust your God. You know the answer. I've seen so many board meetings BCs who've never built businesses or who've never been around great businesses. Everybody gives advice is cheap. It's free, right? And many founders sometimes get confused at the end, great founders, you know what they'll do? They're going to listen to all of us. But at the end, they're going to trust their God. And their God is 90, but I found it 90% right. And when you go back to them and say, look at the last 10 decisions you made and which ones were yours and which ones was because you listened to the last person that talked to you, you realized that most of them are always right. That's why they build great companies. And by the time we get to in the growth stage or in other areas of our businesses, they already have a proven business model. They already know what they have to do. You know, that's often the case that they sometimes don't trust themselves and they listen to others and at the end listen to others just so you can check that your God was correct.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“So I'll give you my perspective on every single great founder has something called Healthy Paranoia. Some have an unhealthy paranoia, but we're all always nervous and what we're building and sometimes we think that what we're building is not strong enough and we're always scared it's going to be the end of the world and it's a constant roller coaster. Every single founder has been in the verge of bankruptcy. Very few have not been. Every single founder has put their entire life to building their company. Probably the best advice I even give founders is tell them the mistakes that I've made and just be blunt with them and some people like to take it in a board. If a founder doesn't want your advice and you're always going to have to be telling what they want to hear, I don't think that's a company wanting to be invested in.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, you're talking entrepreneur to entrepreneur, right? You're not managing someone else's money. You're managing a certain percent. This is a big amount of capital of our own capital. So you're truly a partner of the founder and that's a miser that we're going into.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“When you look at bicycle fun one or bringing our own capital, we're bringing more than $200 million of our own money. And we're blessed by all the stuff that we've seen. And we're bringing pretty good contacts. There are some founders who will say, no, I got it. And they will eventually need some help. And there are some founders who will take as much as they can from you. One is not better than the other one. And we're there. We're on demand. And when you bring your own capital, it's a different game, right? Because we're putting a significant amount of our wealth behind every single one of those investments.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Every founder will always need something. I believe that we're lucky to have had an experience to have done a lot, right? At least in my career, I'm lucky to have 32 years of probably some of the most diverse experiences that few people have had a chance to build a company that became the number one company in the world, to merge a company that became the largest telecommunications company in the planet today, the most valuable one. But more importantly, I think sitting at Softbank and seeing so many industries, so many different founders, so many different models, I think we can always side a little bit and there will be founders who will ask for a lot and will be there to provide them. And there will be founders who ask for a little. And that little might be a phone call that might need some guidance. Every founder that I met, doesn't matter how smart they are and every executive in the world, we've always had something to add.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Shook him up with the name, and at that point in time, I was in a phase in my life, I started riding bikes heavily. I was training with Lance Armstrong, so I thought she was being nice with me. And he's saying, hey, let's name the new fun bicycle. But then you start reading about a bicycle and you see what Steve Jobs called the Mac. And that was the bicycle of the mines”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Shoe brings an incredible, diverse knowledge. Hardly ever do you see an African thriving in the US that wants to invest in Latin America? And secondly, he's a great investor, right? I don't think I'm a good investor. I think I can spot good businesses. I can spot good entrepreneurs. But there's a master to investing. And what I can do is I can bring opportunities and I can then pass them up to shoe and shoe often analyzes them a lot better than me. It's a little more conservative than I am, so we make a good balance. I think I'm a good operator and I think shoe is a great investor. And at the end, I believe that the new firms are going to be the ones that have the ability to help entrepreneurs alter the course of their business. I think the days of just dump capital with access are long gone. Those were the days in which capital was free and it was rarely available. Today, capital comes at a high cost and it's not really available.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Different times, different industries, different investments, different phases of your life. Now is the time to go slow. Now is the time to be wise. Soulfank was the time to go fast. So it all depends once you have something good going, you have to go fast. You always have to accelerate. And that happens to every great company. First you build, you're cautious, you figure out what you're great at. And once you have it, then you press accelerator”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“So I wanted to have a new talent during what I was doing at Softbank and Shoes Background is fantastic. And we immediately liked each other. We worked well. We decided to open the softbank Latin American fund together. And we just had a blast, you know, finding founders, helping make Latin America better. So it was time to do something new. We both look at each other and say, hey, maybe we should go do something together.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“Your wife was giving birth to a new kid, and it was my kid's birthday, so we immediately bonded because that was special.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“I met Shu a few years back who was referred to me as I was dividing softbank into two. And a lot of people told me that I should have somebody called Shu jo join my team. So I called them one day and your kid was giving birth the same day.”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source
“We don't want to be the biggest. The biggest doesn't necessarily mean you're the best. We're bringing more than $200 million of our own money the days of just dump capital with access are long gone. Tourist capital is gone. America is under construction and we're builders”
2023-07-31 · The Twenty Minute VC · 20VC: Marcelo Claure & Shu Nyatta on Lessons from Investing $7.5BN at Softbank & Why Dumb Money has Gone, Why "LATAM is Under Construction" and the Next 10 Years Will Be the Best & Investing Lessons from Missing Nubank & OpenAI & Investing in FTX · IDENTIFIED FROM THE TRANSCRIPT · source