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Nikhil Basu Trivedi

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2016-06-01
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2016-06-01
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  1. “And to really help people save money. Big vision for saving people billions of dollars, a really exciting product experience, a team that's hungry and driven and passionate about solving this problem, a huge market opportunity ahead of them. That's why we're so excited to invest and join these guys on Tally's mission.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Yeah, so we recently led the Series A of a company called Tally. Tally is a consumer finance technology company. We got really excited about Tally because of the team, the entrepreneur is Jason and Jasper have worked together before they started a business together before they are the types of people we want to be in business with. They're hungry. They're driven and they're super passionate about this problem of credit card debt and how so many people have credit card debt carry a balance, pay late fees. And so Tally is basically unbundling the credit card market and enabling people to sign up with a mobile app, connect their bank accounts and their credit cards, and then automatically tally manages their credit cards for them to pay their balances off to make sure that they're getting better rates if they are carrying a balance.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “I think it's funny because it just shows the hostile that those guys have, that they're constantly A-B testing different subject lines and seeing what's converting better. At least that's what I'm assuming they're doing.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “I have a bunch that I read every day, like Tum Sheet by Dan Primac and Madam Ok Daily and Strictly VC. I'll give a shout out to the guys at CB Insights because their subject lines are hilarious.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “How that judgment's improved over time. Apart from that, I've relied on my partners at Shasta and the folks that I used to work with at Insight Venture Partners really help my judgment over time to push me on my conviction in a company and how excited I am about the team and the market opportunity and the product market fit. So I've relied on my partners over time and then I rely on my peers to help me get better as well. Those things have been really helpful to improving my judgment, but I also just think it takes time to develop passenger recognition. And I'm playing the long game and trying to be patient to get better and to hopefully make better and better investments along my career loss.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Apart from listening to the 20 minute VC and learning from all the great guests that you've had on the show and how they've thought about this question.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “So, look, consumers spend, people spend about a third of their life sleeping, and we definitely do not spend a third of our money on sleep. And so there's a disconnect there between how important it is in our lives and how much we spend on it. And then if you think about it, technology is not really altered for the better how we sleep. In fact, some would argue that technology has worsened how we sleep with phones waking us up and other forms of technology being interference on our sleep. And so I've been looking for a while for entrepreneurs and companies that are using technology to dramatically improve the way we sleep. And I'm still waiting the right investments there, but I'm hopeful that someone cracks how we can get to sleep better and how we can stay asleep for longer.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Yeah, and I'm a massive Manchester United fan. So Sir Alex has been a role model and someone I've looked up to for basically my whole life. So to have him write his autobiography with a venture capitalist and Saint Michael, I've always felt there are so many parallels between how a sports team runs and how a coach of a sports team builds the team and inspires hunger and drive and the individuals in the team to get them to succeed is very relevant to what we do in venture capital. And that book brings it together.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “So, I gave this book to all of my partners and a bunch of founders that I work with for Christmas last year. It's called Leading by Sir Alex Ferguson and Sir Michael Morritz, two of my heroes.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Yeah, that's amazing. And so I think new generations will be much more amenable to this, just like they're amenable to pieces of technology historically that come about that are very different culturally and lead to very different cultural things. I think education will be a big part of it.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Absolutely, absolutely. And I think that there's going to be a generation that grows up potentially not knowing even how to drive. I mean, I guess you don't know, you don't have your driver's license yet, so maybe your partner's generation.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Well, to go from level three where a driver is still present in the car and is kind of a backup in case something goes wrong to level four where a driver doesn't have to be in the car and where a vehicle can drive autonomously without anyone in the car, that's a big shift. That's something that is not going to happen in the next couple years. One of the reasons for that is regulation governments I don't think will allow it until they know that it's safe. I think the other barrier is just cultural. I mean, it's going to be very strange for people to see things move around without anyone purportedly or anyone visibly controlling it. And so I think that's something that will take some time to shift people's mindsets around. Just like humans have been resisted to change in so many ways. In the past.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Yeah, I think that's probably right. I mean, it's in the incentive of auto manufacturers to produce these cars and to sell them at a high price point at first because they're going to be costly to produce. And so the R&D cost is kind of bundled into a high price point car. So my guess is that that's how this market unfolds.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Over the last 10 years, where more and more people are moving into cities will be impacted in some way by self-driving cars.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Well, man, I really hope it solves the pawing issue in cities, don't you? That would be pretty amazing. One interesting thesis I have around this is that autonomous transportation actually makes it easier to live outside of the city because it enables you to commute and get into the city in a much more efficient and better experience manner. That could be one thing that happens as a result of autonomous transportation that's perhaps a little bit unexpected is that people actually move out of the cities and are able to get into the cities more quickly and more easily. The other side of that is that the fleets of autonomous vehicles might only exist in the cities themselves. And so it becomes even more attractive to live in a city. I don't know which way the world is going to go. But one thing I can tell you, I think it's autonomous transportation is definitely going to affect where people live. This urbanization trend that has happened.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “I think it's a very interesting investment. Someone told me the other day that they think the reason for Apple to do this, and I haven't validated this,”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “The culture here, even though autonomous cars will, I think, be quite expensive and won't be accessible to the mass market, just like luxury cars today aren't accessible to the mass market. I think that there will be a certain part of the population in the United States that will demand owning these cars and having their own autonomous car to be able to call at any time to just pick themselves up versus an entire fleet-based approach. So, I guess my current view is that in the United States there'll be a blend of car ownership and fleet-based autonomous systems. And in Europe and Asia, maybe the fleet-based system will be more dominant because that's more what the culture is like anyway today.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “Yeah, another great question, and something I've been thinking a lot about. My current view is that I don't know that there's one, again, coming back to your previous question, I don't think that there's one company that will win this entire market right now. And I think it might actually vary by geography. So in Europe and Asia where public transport is more prevalent and more used, I do think that a fleet-based approach where you take out your phone, press a button and an autonomous car comes and picks you up, but you don't necessarily own that car. It's shared, and you get into it and maybe it goes and picks someone else up on the way to your next place, and maybe it picks someone else up. I think that that approach certainly in Europe and Asia, it makes sense because it's more blended into the culture that exists today and the way people move around today. In the United States, car ownership is a big deal, and it's something that's, again, breadened.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Yeah, that is a really good question. And it's something that we're actively thinking about at Shasta because I do think that we'll see companies with phenomenal teams, with novel approaches like Cruz get acquired by incumbents like GM. For us as venture capitalists, we want to back companies that can be standalone, independent public companies that stand the test of time and are around for decades. It's something we've been thinking a lot about which of the teams, which are the companies with an approach that can do that because there's so much capital being injected into this market right now. There's so many different companies working on something around it. And there's really well capitalized players like Uber, Tesla, Google, and the OEMs, the incumbent auto companies already in the market working on this stuff. I don't have the answer for you yet.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “And that's already happening for Tessa. And so that's one example of how software is eating the autonomous transportation space right now”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “So, an example of this is Tesla has a 30-person team working on autopilot, which is their autonomous sort of cruise control and lane changing and lane keeping software and application that's live today in Model S's and Model X's. So they have, Tesla has over 100,000 cars with autopilot that are out there on the road driving and collecting data and automating highway driving to the tune of millions of miles per week. They are gathering that data, they're gathering it from the car itself, from the camera at the front of the car, from the other sensors in the car, and they're able, therefore, to use that data set to improve the autopilot system very quickly. That's leading to an advantage around data, around software. It'll lead into advantages around the hardware and the capabilities they build into future vehicles like the model.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Yeah, I don't view it as winna take goal. That's my current thinking now. That thinking might very well evolve over the next six months, the next couple years. But it's a massive market. I think there'll be multiple successful approaches and companies. And I think once one company figures out the best approach, there will be fast followers, just like in the traditional auto industry. The one thing that gives me pause is I say this, though, is that there is such a big software element to autonomous transportation and to self-driving cars. And in software, companies that have the network effects and the data set to be able to iterate and get better faster than anyone else can lead to when it takes most dynamics.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “No, I don't think it is. And I think we should give the auto manufacturers some credit. I think many of them have expected this to happen for a while and have built teams in-house working on this stuff. I believe GM has a pretty big team working on autonomous transportation, and they had that for many years pre-the acquisition of cruise. And I think BMW, Daimler, several other companies have groups in-house working on autonomous transportation. I think the big question is, though, whether their approach will lead to success or whether a new entrant and a new type of approach, something like Uber or Lyft, for example, or Google or Tesla, will actually lead to the approach that catalyzes this autonomous transportation revolution.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Elon Musk said in December 2015 that Tesla is two years away from a self-driving car. So now we're in 2016 and he said that the Tesla will get there in late 2017. Why now for me as a venture investor is that I do believe we're almost at level three vehicle automation and the timing is now for huge opportunities around this stuff.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “So for me, I think there's a few categories I focus more on the consumer side at Shasta, and we do a mixture of consumer enterprise and connected hardware investing. And I think across those areas, there's a few categories that will lead to trillions of dollars of shift in spend for consumers over the next couple decades. I think housing and real estate is one of them. Healthcare and medicine is another. Consumer finance is a third. But if you had to push me to focus on one, I would go with autonomous transportation and self driving cars, because I think that disruption in how we move around can have the largest impact across the most number of industries over the next couple decades. And why now? Going back to the definitions we just talked about, we're almost at level three, where cars can drive themselves, albeit with a driver at the steering wheel to ensure safety and as a backup. And that's amazing.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “I think that we are at level two because that's where it's adaptive cruise control and the ability for a car to stay in a lane and change lanes. But we're increasingly going towards level three. And I think we'll be at level three very, very soon.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Sure, it's a great question. It's the National Highway Traffic Safety Administration that's come up with a formal classification system for autonomous vehicles. The ones that are, and it goes from level zero to level four, the ones that are most interesting, the ones that I think about are level three and level four automation. And level three is where you have a driver at the steering wheel, but the driver can fully seed control of all safety critical functions in the car to the car itself. But the driver still needs to be present. Level four automation, which is pipe dream, you know, in many movies and the things that we fantasize about, is where a vehicle can drive autonomously without any driver control. So it can actually drive without anyone in the car. And so level three and level four, the two stages that I think are most interesting to know about when it comes to autonomous transportation.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “So I got that taste of entrepreneurship by being on the founding team at OTSE, which is a place to discover art online. Carter Cleveland, who founded the company, had the idea, and I got to work with him on it. And I was 19 at the time, and he was 21. That taste of building a product struggling to find product market fit does inform me today in venture capital because it helps me empathize with founders who are going through that same struggle. But now that I've been in venture capital for five to six years, the venture experience trumps the operating experience at some point. It actually does now for me. And so I think the venture experience now informs much more what I do every day with finding new companies and deciding which ones to invest in and trying to be helpful to the ones that we have invested in.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “Yeah, it's definitely not the typical journey. I don't know how many people in venture capital grew up in Reading and were born in Oxford, but the journey for me is really about my parents moving my sister and I and our family to the Bay Area when I was 13. At the time it was an awful move. I missed my friends a lot. I missed everything in England. But in retrospect, it was the best thing that could have happened because I was exposed to technology and entrepreneurship and the world of venture capital while I was still in high school in the Bay Area. And so that's kind of how I first made it out here. And was involved in a number of startup things there, lived in New York for a bit and worked at a venture capital firm there before moving back to the Bay Area, to San Francisco and to Shasta three and a half years ago.”

    2016-06-01 · The Twenty Minute VC · 20VC: The Future For Autonomous Vehicles & How Software Is Eating Cars with Nikhil Basu Trivedi, Investor @ Shasta Ventures · IDENTIFIED FROM THE TRANSCRIPT · source