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Regan Bozman

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2022-07-07
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2022-07-07
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  1. Want to circle back a little bit. So in the startup that you tried to create talking to 90 VCs. Was it like for you both as you reflect back on maybe why they all said no and what you learned from that?

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. And I think the idea of having just been rejected by so many venture capitalists, like the idea of going to work somewhere and actually maybe understanding what that world looked like a little bit more was really appealing. So I fortunately got the job packed up all of my stuff, which wasn't very much. And I moved out to San Francisco about two weeks later. And then I spent about a year there. And that was kind of my winding journey into crypto started. worked on a few crypto deals when I was there definitely wasn't really the core of what we did, but we ended up spinning out a business called CoinList to sort of build a similar business around capital formation in crypto. And that was really how I started working in the space.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. When I was there, we had recruit a lot of workers to the platform, and I saw kind of a lot of the problems with that firsthand. We were using Craigslist, and this is kind of when all of these on-demand platforms had spun up and raised a lot of money. They were all kind of going after the same workers. I saw an opportunity to build a platform to sort of help those workers optimize their incomes, work across platforms, and really just try to make that experience better. And so I spent about six months trying to get this idea off the ground. I was working with an engineer I'd known from Andy. And I think I talked to like 90 venture capitalists, all of them said no. So towards the end of 15, this was going terribly. I had no money. I was pretty close to having to move back in with my parents. And then I needed a job. I think I used Angelist a bit to just find investors and connect with them. And then I was looking for jobs on Angelist. And they were hiring for this kind of role to be like an analyst on the deal team.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. 50 people and worked there as chief of staff. Definitely a lot of startup clich ⁇ s, like young people working late in a big loft and flat hire in New York, but really learned a ton. And that was kind of my first foray into entrepreneurship and startups and venture.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. Very fun environment, and I was pretty terrible at the job, to be honest. I wasn't very good. And I was told that and definitely, I think, was kind of one of the first big. Really clear failures I had in my life. And I cried in the office. It was just not, I don't know, some people thrive in that environment. It was definitely not for me. And I think also just coming into this pretty corporate office in the middle of Connecticut and just staring at a computer all day, it didn't seem very fun. So I was fortunate to have that experience and really realize what I did not want to do. And then another fortunate event was through a friend in college met two guys who had dropped out of Harvard Business School to start this on-demand home services platform. It was then called Handybook. They eventually rebranded to Handy building an Uber-like platform for home services, especially home cleaning. And so I met them really early. I think the company was like eight people. They'd just raised a seed round and worked for them sort of as I finished up classes and then spent two years after college there. And I think when I left the company, I had raised about $100 million and was maybe somewhere around $150.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. Most listeners in your podcast are kind of familiar with this famous Bridgewater culture of brutal honesty. Think for a bunch of bright eyed, I was probably 19 or 20 at the time students to go live in kind of an isolated environment. Bridgewater is in Westbore, Connecticut. It's about an hour north of New York. There's not really many other young people around. And all the interns live together in houses. And so it kind of felt like everyone was just trying to like embrace this as much as possible, right? And Lord of the Flies would probably be a dramatic analogy because we're living in nice houses near the beach and have catered bunch and stuff like that. But it was just like not.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. It's just kind of like a few years after Facebook had come out, and it definitely still was not cool to be into startups and entrepreneurship, going to somewhere like Boehner McKinsey was cooler. But I knew a few people who'd sort of dropped out to start companies. And that just seems really interesting. And so I was fortunate to get a job at Bridgewater as a summer intern in college, was utterly miserable and really hated it and was pretty clear that wasn't for me.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. Yeah, absolutely. I grew up in New York City. I went to Harvard undergrad, studied history and economics. Think they're kind of had my versus inclines of entrepreneurship me and a buddy had this like small business kind of selling university merchandise for football games, which went well until we got shut down by the university trademark office.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. On today's manager meeting, I interview Regan Bosman, a general partner at Lattice Capital, an early stage crypto fund that helps founders build defensible moats and new growth playbooks. Regan previously was the first employee at CoinList, a token marketplace that spun out of Angelist, where he was involved in thirty token launches. Our conversation covers Regan's early years as an entrepreneur, lessons learned from CoinList, and the launching of Lattice. We discussed Lattice's investment philosophy, sourcing, research process, and subsectors of focus. We dive into specific examples in DeFi and NFTs and discuss a few winners in the portfolio to date. We close with Lattice's competitive advantage, measures of success, and definitions of defensible moats as the crypto industry continues to evolve. Please enjoy my conversation.

    2022-07-07 · Capital Allocators · Regan Bozman – Defensible Moats in Crypto at Lattice Capital (Manager Meetings, 34) · IDENTIFIED FROM THE TRANSCRIPT · source