YouSaid · the spoken record

Matt Hartman

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35
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2015-10-12
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2015-10-12
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1
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  1. “He'll message people who are in New York and say, hey, I'm going to come to New York and doing this event, and you should come by.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “So the most recent investment I think that's public is a company called Disruptive Multimedia. So it's by a guy named, founder named Ryan Leslie, who started out. He's a rapper, actually. And he had built a product that makes it, if you go to his Twitter accounts, he posts his phone number publicly. And so he built almost like a personal mobile CRM for his fans where he can communicate with them. They can buy his album through it, but he can also understand where his fans are and have a one-to-one. We talked before about one-to-many, but feeling like one-to-one communication like Snapchat, this is that same network structure, but through text message. So you can actually text with him and he'll see it and respond. He's got, you know, I don't know how many, he's got half a million Twitter followers. I'm not sure if he has that many people who he texts in his contacts, but he”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Yeah, so I think it's a nice, the reason is because it's in between Kahneman Torsky, which is sort of the pure psychology and predictably irrational, which is the pure It's great. I sort of think there's this lineage. Kanaman Torsky's actual research, psychology of persuasion, which makes understandable, and then particularly irrational, which applies it. To me, that's three things that have a lineage.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “So I'll give you a couple. I'm sorry, I'm not making this very lightning. His draws. So I use Dig Deeper, which basically takes all of my people I follow on Twitter and gives me a digest of the things that they're sharing and I send that to Instapaper all the way. So that's the first thing. The tech one that I really like is a founder's notebook by David Jackson, who someone suggested to me, I don't know David, but someone suggested, I judge these by the things I haven't unsubscribed to do. So that's one. And then the third one that I like that's sort of more in the fun one is allurum ipsum, which is by Margot, who's here at BetaWorks. I think their Twitter's Lorum Ipsum WTF or. It's sort of a fun kind of lifestyle newsletter. And then I read the scam a ton.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “And I found that what it does is it means that I don't have to do a lot of tapping before just getting the thing in. So if you and me are in the middle of a conversation and I want to make a note, I make it there, send it to the place it should go as opposed to opening up Evernote, finding my to-do list if that's what we're talking about and sort of interrupting my workflow.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “So I'm looking at my home screen now and it is in my doc. I'll just describe it to you briefly. You can type anything. It's basically a freeform type typing, I don't know, text box, and then you can run macros on whatever you typed. And when you click to run a macro, for example, if you and me are talking and you say, hey, there's a product you should try. I can in one tap add that to my to-do list on Evernote because I create a macro to send something to my to-do list. I have another one for our investments weekly agenda so I can send a macro there. If there's companies that we're looking at, I can send it directly to, you can send things to Trello boards. So it's basically an input box that then will output to any API that you want.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “You know, I use, I would like to say human. Bitworks is a special place partly because I mentioned earlier we have 100 people here. We have now over 100 portfolio companies also. They all have friends or friends. A lot of the ways that we get new deals is through our network people who come in and say my friends work on something interesting and they come in and demo it. We say, wow, that's awesome. We'd love to, you know, we get to know them and ultimately invest. So that's a lot of the ways that we end up. In an industry with a lot of technology, there's not a lot of technology I use. I use product hunt as a way to find investment. We've made investments that were initiated on product hunt.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Because they're sitting in your ears again and you can multitask, I think actually those end up being pretty useful and having high conversion rates. So I think there's a lot to be done on the business side. There's also this existing business model. I think the confluence of those things ends up meaning that a really big, great quality podcast network could be pretty enormous.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “looks a lot different than when a company like Facebook or Tumblr was launching, when brands didn't know how to pay them, right? You didn't know what should the ad unit be? What's the native ad unit? In the case of podcasting, there's already an established ecosystem of how to do audio ads. And so I think there's actually, in that sense, it's much further along and in many ways can be monetized in a very straightforward way. I think there's, so that's one interest in terms of monetization. That's one bucket. And the other bucket is all of the ways that you can interact with people because it's audio. And you can see, I think serial said donate if you wanted a lot of the public broadcast ask for donations.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Two things. One is I think that Gimlet has the potential to be enormous. We talked a bit about people listening. The supply and demand of content. On the other side, you also have the advertising network.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “And so if you picture, that's like almost day at work. And so with lunch. So as you start to, for me, as I started to notice that, I was thinking there's a whole lot of found time in the listening channel. So think about it as a separate channel, I think, that's where I think there's a ton of room for it to”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “And I noticed when they launched the feature, and it's a BetaWorks company, so I get some of the early features. When they launched it, I realized I was going through my queue, my Instagram queue much faster. And so because I'm a little bit of a data nerd, actually started measuring the number of words that I was listening to. And what I found was that on my commute to work, basically by just listening while I'm walking and during my commute, I ended up listening to the equivalent of what would have taken me six hours to read.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “And the demand for podcasts, right? So I think at the moment there's not as many great podcasts as there are people looking for great podcasts. There are a lot of podcasts, not necessarily great ones. So that's the kind of distinction I'm talking about. And I think the future is really about that extra channel that I was talking about before. I'm a little bit of a data nerd and so I spent a bit of time taking, I have an Instapaper on Instapaper there's a, which is a read later app for people who don't know, there is a feature that lets you listen to any article.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “You know, I think it seems that there's a podcasting renaissance happening right now. The way that I think about podcasting is that it's this separate channel that actually doesn't have to take your attention away from the primary thing that you're doing. So if you're in a car and you have the iPhone and it's easier to create, there's a whole bunch of things that happen. And with Gimlet, to start out with Gimlet, I think at the moment there is a A disparity between the supply of really good podcasts, yours is one of the great ones.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Notion that when you touch the screen, it's going to immediately give the broadcaster feedback is, I think, an example of the types of things that we look for. What's native about the thing that you're doing? In that case, it was live, so we need to make the feedback live. What's native about something like an audio app is that probably you want to make sure that the experience is native, that you can look at it, use it without looking. And so things like that.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “But I've done a bunch of, I've done a little bit of video broadcasting, I shouldn't say a bunch. And one of the things that's really frustrating is when you, like I said, when you ask a question, you don't get the immediate feedback. Even if someone's typing in a response, you don't know that they're typing. And so you just sit there. And you might be sitting there and waiting for nothing, or you might be sitting there waiting for a question because someone's typing it. And I thought that subtle...”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “So I think I have a specific thought here and it's designed but maybe not in the way that a lot of people think about the design. So I think when I first heard, okay, this is really well designed, I would think it's beautiful, it looks beautiful. And what really gets me, when I products both on the investment side and just as a user are experiences that are designed, our apps or whatever they are that are designed that feel so native and surprise you at how you didn't even realize you wanted that feature. And so I will think of a couple of examples. When Periscope launched and they had the feature with the hearts, it's this really subtle thing.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “What that means is having comets, if you ask a question and it's going to be 30 seconds before the person even hears the question, that that interaction isn't going to work so well. But it's probably really good for a bunch of other use cases. And so I think for somebody like Facebook, my guess is the way they're thinking they would think about it is if they saw some really strong use cases emerge, they have this massive distribution if it made sense to build something like that or to acquire something like that. It's certainly in that social media space. I could see them carrying a lot about real-time video if consumers have been caring about that.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “You know, I hadn't thought about it. I mean, I think There's a world where that makes sense. If I were Facebook, I don't have a sense of how hard some of these things are. So you have Periscope, you have Meerkat. We had it in Vesa a while ago into a company which then pivoted and merged and emerged as a company called Up Close, which is another, it's, again, a slightly different take on video broadcasting. It strikes me that there are Subtle differences in each of these that make them really interesting. So for example, Meerkat is not so good at very real-time feedback. So it doesn't always broadcast in real time. I think Periscope is much better. I know that Uplose is much better in real time. And so...”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “I don't think it's over yet. I think I feel like we're still in the days of the Twitter equivalent would be tweeting out pictures of your food. It's like people don't really know how to use it. There's something about this vertical video, the fact that whether it's a selfie or looking outwards that's interesting. And I think that I'm sort of interested to see what gets built on top of things like Meerkat and Periscope, because you really can build, you could have a podcast that is launched entirely on top of MirCon if you launch. I think people have done that, these broadcasts that are run the broadcast.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “So obviously I'm impressed with lots of the companies that we've invested in. I'll give you an example of a company that we didn't invest in that I think it was really impressive, which is Meerkat. I thought that that was sort of in retrospect now one of the best product launches I've seen in a while. I think the product itself was Was well done and so tightly, it was more tightly integrated Twitter turned out than even Periscope was, which Twitter had acquired. And so I thought that that product launch was just masterfully done. And I think that it was, I don't know if, I think it was a combination of the right time, a really good product. I also think Periscope had elements when I saw that of really good product.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “It sort of proved what the intuition was. I think a lot of investing is this combination of data and intuition. And our intuition was addictive. This is really engaging. We're going to it every day. The conversations on product were just like conversations that we were having that weren't private. It was just really, really good product people having debating things back and forth. And it was a fairly positive conversation the way that he talked about keeping things positive and sort of letting some people gating whether or not you could have comments I think is some part of that network structure that enabled that the community grow in the way that was really productive. And so it was all of those, the confluence of different data points is really what Turkey.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “Yeah. And so a bunch of beta works people were on that. So we knew what Prototon was and had talked to Ryan. A couple of people had reached out and spoken very highly of him also. And then we really did do this network analysis and it was...”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “So it was a few things. First, we had met Ryan, a bunch of people at Beyuch were on the early version, I think it was an email before it was even a website.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Account that I know it at the time, and it kept coming back up. And we're like, well, maybe this is somebody who's a big fan of AdaWorks. And then it turns out we started doing the network maps on other companies, and he was showing up there too. And what that revealed sort of in the data was what was true, which is that he was engaging with other people, not even about the product hunt as a product. He was engaging people on all social networks. So it was really building a community that was greater than an actual product. And I think that's a lot of times that's what this is kind of the social network ends up being a reflection of really what's going on in real life that just is able to capture so much up.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “So we were talking before about network, and I think that's sort of, I think about that as the structure. So it's like if there's no one there, what does the thing look like? Where are the arrows pointing? Community to me is the layer on top of that. It's the thing that gives that network life. And so what we look for is engagement on the data side, it's network density. I remember when we first started talking to Ryan from Product Hunt, one of the things that we had done was this network analysis with our data, I had sat down with our data scientists and started mapping out the networks of this on Twitter because it's so public of all the products we were launching. And we kept, and what it does is it puts these, did you picture kind of this network graph, it has the bubbles or different sizes of the people, how densely they're connected with other people on that network. And there was this not the biggest bubble, but this medium-sized bubble was at RR Hoover, which is Ryan's Twitter.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “You know, I think that reducing friction makes it easier to do something. I don't know that that's always habit forming. Near y'all, and I think Ryan Hoover was involved with the book Hooked, and they put together sort of a very nice way to think about how performing activities is one of the key things that we look for in our investments is we're very introspective with our early companies that we're working with that haven't launched yet. The only thing we have is kind of our view of how we're using the product and how it fits into people's workflows and whether something is a daily recurring activity, a weekly recurring activity versus a twice a year activity impacts whether you can really build and engage community around that product.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “So you start, you're sort of starting this conversation with multiple people with the same thread, then they can all respond to you or not respond to you. On the ephemerality side, I think that that actually, if you think about that not as a feature, but as a design pattern, what has ended up happening is that it lowered the friction to post. So I know that's not going to everybody, and I know that it's going to disappear in an hour. Maybe I'm more likely to take a selfie, even though the picture's not perfect versus Instagram, where I want to make sure it's absolutely perfect before I blast it out to my entire network. I think that really does impact user behavior.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “Yeah, so I think the word social network has come to mean almost nothing, I guess, now. I'll tell you the way that I think about it, which is what you said, which is this sort of network structure. The classic example to me is the difference between Facebook and Twitter is a bidirectional arrow, basically. So the follow versus friend model actually creates these totally different ecosystems. It's kind of like DNA replicating and it turns into a different type of organism. I think Twitter has turned out to be much more about news, massive distribution of one to many. Facebook is much more interesting for your friends, people you actually know. And so that's kind of the classic example. I think we're seeing another we saw even another iteration of that with Snapchat where they're saying, okay, well, this is, there's two sort of key differences here. One is ephemerality and another one is the fact that you're sending one to many, but that it actually gets sent out one to one.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Early part of starting a product before it's even a company. I really enjoy that part of the process and beta works on the seed investing side really focuses on that both on our seed investing side and on our company creation side on those very early days of the company shaping the product and building the community around it and figuring out kind of what the network structure should be of the product of its social network. And that's the area that I really that I enjoy. The advantage to me working on the venture capital side versus building at the moment is that I get to work on lots of different things. So I get to work on a company one company one day and another day and help them out and that's really enjoyable for me.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “So, I think there's two ways to look at it. One is why see investing and not starting a company, and the other is why seed investing and not later stage investing. So for me, I came from the operating side. So I was working on building things all the time. I love that very first”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “Yeah, so we are very intimately involved when we are the view ourselves as co-founders with those people. The very first employee is an employee of BetaWorks. We work on ideas together. And then if the project seems like it's something that the person wants to work on, that we want to work on, we turn into a company. And so they are Beta companies in that sense, separately from that, but very highly related, we do seed stage investments alongside much more traditional venture capital investments where we're investing in companies that don't come through. They're not physically started at Bayor Works. They have their own space, and we try to invest again in consumer companies that are sort of hitting consistent themes with the things that we're building. So social networks, data-driven products that are kind of targeted toward consumer have had”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “I think hopefully it's confusing from the outside but not confused on the inside. The way that I describe BetaWorks is that we do two things. Our core business is what we call the studio, where we build new companies from scratch on consumer internet companies. So that's what we did with Bitly, a company called Chartbeat, Social Flow. More recently an iPhone app game called Dots and the animated search engine Giffy and a number of others. I think we've done about, built about 19 companies from the ground up in various stages. If you come into our office, we have there's probably over 100 people here all working at the moment on 10 different companies. As they get bigger, they move upstairs and then they get outside of financing and they end up needing to grow beyond BayWorks' physical space and so they get their own space.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “After that, so that was sort of an exciting time. I didn't join Facebook. I went back and finished up school. And after school, I started a company called ReferBoost, which is kind of taking the real estate industry. And what I learned about social networks and combining them together, I built a tool for property managers. It was distributed through apartments.com and turned that into profitable business, didn't raise any outside venture funding. When I moved, I was in Chicago at the time when I moved back to New York, I was looking to work on the next thing and reached out to a few VCs who I know. And it turns out that BetaWorks has actually been a seed investor in hot potato. And so I knew a bunch of people who had ended up after hot potato at BetaWorks. So I started talking with them and decided that I would try to work on seed investments. And that was a couple almost two years ago.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Sure, so I started out as a computer programmer. I studied cognitive science and computer science in college where I had programmed since I was probably about 13 and built a bunch of products. I started out totally outside of the startup and investment world at a company called Trammel Crow, which is a real estate development company. It was a publicly traded company. I built their technology platform and then worked there for about five years. knew that I wanted to do something in startups, had built lots of step on the side, but never really started a business. I went to business school and ended up working at a company called Hapoto, which was a consumer social network which ended up getting acquired by Facebook.”

    2015-10-12 · The Twenty Minute VC · 20 VC 078: BETAWORKS WEEK: Matt Hartman, Director of Seed Investments @ Betaworks · IDENTIFIED FROM THE TRANSCRIPT · source