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Renata Quintini

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2021-08-24
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2021-08-24
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  1. “First thing I went to were like, Well, which one do I pick of like somebody who told me that I could do something that I wanted to do? I think about that a lot. Like my dad was one of those people who was always like, baby, you can do whatever you want, any job you want. And I was like, duh, of course. But then he knew that like I would grow up and go into the world and the world would tell me otherwise because I was a woman or I am a woman. So yeah, all those people like who kept going like I think about my parents and my thesis advisor and maha, the first person who hired me in Venture”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Objective and scientific and kind of instrumented as possible so that we can also keep the outside view and like not think that we're so great and that we're the smartest people in the room because sometimes we will be and a lot of times we won't and we just got to do it better than everybody else.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “At the end of the day, we're money salesmen. We sell money, like it's the ultimate commodity. And so for our investors, right, the only thing that makes them different, the dollars that we sell versus the dollars that other people sell are the decisions that we make. And that's driven by the culture that we build. And so to that end, like we wanted to build a firm that looked like a company we want to invest in. And we very much think about decisions as a product. How do we instrument them? How do we measure them? How do we make sure that they get better? How do we make sure that we're doing things properly and thinking the right way about this and bringing in experts and learning where we can? And I think, frankly, like in an industry where there's the midas touch and the gut and like I just know, I frankly just think we have a big competitive advantage by like believing that that's all bullshit because we know there's been a dozen Nobel Prizes about how we make decisions and how we are telling ourselves that we were smarter than we really were. And so so much of the reason that we're doing this and so much of the long-term value that I think that we're building is just trying to be like.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Yeah, again, I think it's about like reading people. I think I'm getting better and hopefully like I have a lot of work to do of like kind of figuring out who are going to be great leaders that really scale. When I think back”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “So much energy for working with him. That was like the one thing. So when you see these founders who can hire and attract great people who let them run and like let them shine, those are the ones that are really going to level up because you can't do it alone. Sometimes at the Series A, the CEO is the best executive. And that's fine. But that's not going to be the truth at the D or the E or the IPO. And so like you have to find a person who can navigate that as well.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “I mean, right? Like she attracted these amazing people. And so I think when you see that specket that I mentioned, they got this incredible head of sales, ripple match, our most recent deal, also got like a much more senior kind of hire for their head of sales role than you would expect of the company at that stage. And then also, I think looking for CEOs who are also very good at like, frankly, relinquishing control and want everybody on the team to be better than them. I know that like those kind of seem trite, but I've also seen it not happen. The example I used of like getting smoked by the competitors, the CEO is just too held on to get great executives and let them run. Like Robert Ruffkin, I think, is phenomenal at this. I remember when we first invested, he said, like, I want to hire every smart person or he's like, I want everybody to be smarter than me. And like, I just want to like get out of their way. Or I remember when we hired a great COO at Compass back then. And Robert Calding is like, okay, how do we like break up my job? And his one request was he was like, oh, I want this one person to report to me because I get.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “I mean, she's such an epic operator, but even like, I mean, I remember the first time she came in with Mike and it was just like, how did you get this guy?”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Even though we're investing in companies that have products in market that you can diligence and have financials that you can look at, these are still such early businesses and you're still betting on founders. And I mean, the hardest thing is if the founder can't scale. Sometimes the product's amazing. I once invested in a company where we were like, definitely the market, like from a product standpoint, we were the market leader and we got smoked by CEOs that were better able to hire high quality talent to build like better executive teams around themselves. So we kind of talked about the pre-screening at the beginning, right? It's like, what are those clues that this is somebody who can really level up? And like every day they're going to run a bigger and bigger company. Everything is right. Three years from now, you're going to be looking back at the board meeting and being like, oh my God, it was so little and cute and tiny right back then. And so we're looking for those leading indicators. And like that conversation with Susan is often a great one that like how open, how curious and passionate and open to influence are people when you see a founder who can hire and exec that they have no business hiring when they can like hit above their weight.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Your friends who are starting this, right? Like that word of mouth is so valuable and that pushes down their cack. And frankly, like that just gets more revenue. I think it's that contribution margin that's the value.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “On it because having that contextual layer just makes everybody so much more powerful. When you're asking about good revenue and bad revenue, like I think where that actually shows up is not necessarily the revenue, but it shows up in the cost of sales because how much you have to require that customer if the product is better, it sells itself. I mean, and we see that in consumer all the time. I invest in Glossy at IVP and then I saw a ton of D2C and Glossier was always phenomenal. They had this amazing community. And so like they weren't totally dependent on the social channels to buy their customers. They could get them on their own and also like when they did do performance marketing, right? Like they knew that it was very efficient for their business because the products were so good. And what you see in a lot of other businesses is that CAC just starts increasing and increasing. And frankly, that's because the product that you're selling isn't as good for those customers as it was for the ones that had cheaper CAC. I think it's actually easier to show up on the marketing side because the truth is if you feel like Coda is cheap and you're getting way more value for it, like you're on your podcast talking to us about it. You're going to tell.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “We just invested in a company called Speckett in Denver that does kind of in context training for SaaS tools. So a lot of like Salesforce and Outreach and they can go on top of any tool. But again, it's one of these things that I think they had a bit of a COVID moment of like, if you run sales offs or sales enablement, all of a sudden you need new ways to make sure that all of your team has all the right materials, has all the right battle cards, is up to date on any changes in the process or tooling or training. And so COVID kind of shifted that and made everybody like have to think about what am I using. But that was one where as we dug in, it was one of these things where it was like kind of creating that flywheel, like giving these customers more and more and more because now they had abilities to kind of look at sales performance across apps. And what did people who successfully handled this objection, like what did they do versus someone else? And so like kind of getting that wedge, but then over time, what we're seeing in their customers, they were like bringing more and more and more people.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “That's compelling. But what I love about what David did is he kind of went back to that first principle, and it's like, how do people really want to learn? You don't want to learn from a professor that's been in a lab their entire lives. You want to learn from the person who's done this. Like that is so much more powerful. Actually, understanding that path and understanding how they've changed their craft and actually done something that nobody's ever done before. And how do you actually create that personalized experience using the internet? How do you make it feel one-on-one? And so I think like we're going to see a bunch of streaming services, but I think one of the things that masterclasses showed us is that like we've kind of been thinking about education all wrong. We love to learn. We're always like constantly learning. And if you make that like beautiful and cinematic and immersive, that's an incredible experience. And I think you see it today in the class mix, like what counts as education, Chris Fost and negotiation, these real skills you can actually use in your life, not just kind of things that we think of as academics.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Masterclasses that so much kind of like ed tech up to that point was like taking regular structures like college classes, degrees, grades, and putting them on the internet. And if you think about that, like colleges and degrees and grades and all that, they were like technologies that were built to scale education. Because if you go way back when you think about Plato and Aristotle, you are a great master. You spend a lifetime amassing this body of work. You pass that work on to a couple of people, an apprentice or children. It's kind of very like deep one-on-one. Like I think that is very, very human idea. And in order to scale that, there became universities where you got people together and then you could copy universities all over the world and we can standardize by having degrees. Those are all just technologies to take that same kind of idea of like taking the work of a master and passing it down that scaled it all over the world. And I think I didn't really, I like always said I hated ed tech when I made that investment, but because like it was just kind of taking those technologies and putting them online and I don't think it was.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “So, both masterclass and coda, they're really similar in that they were like big, audacious product investments up front with the long-term view of kind of customer behavior. Code operator and sell for what the first three years by the time they like publicly launched in 2019, right, the product had been so deep and so powerful, which is very dissimilar from a lot of kind of that valley startup of like building in public and just getting that MVP out and iterating really quickly and masterclass kind of the same way in a world of like all the free YouTube content you could ever watch investing very heavily and deeply into like ultra high quality cinematic content that's going to be more immersive and more impactful and so both of those founders kind of had that same took that same bet that if you do something much better when you really like invest in quality that will differentiate you i think what we're seeing in masterclass i think with the grade unbundling we're going to see more streaming services but what i love about”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Remember masterclass uses CODA and they use it for their kind of like soup to nuts course design for everything from instructor”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “One of the things that I really love about the way that he operates, they're now an all remote company. They've always been distributed, but they do their board meetings with the entire company can join because they're on video and they've always done that. And then they use all the coda tools around the Dory and the chat and everything around like this discussion. And as an investor, it's super fun to see because you actually get to see all of the inside jokes and the conversations going on inside of it. They also do a ton of like hackathons, which I feel like back when I worked in companies that was like, you saw them all the time and maybe I'm just further removed, but basically getting to see inside like how they iterate and how like they eat their own dog food around the code of product, like how much they use it themselves and then how much of like their own kind of company and culture tooling that they put out for the world has been just awesome.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “Companies that are very good at describing that, it pays for itself because it weeds out people who don't want that. We see a lot going on right now with companies coming out and saying like we don't talk about politics and that's for some people it's not for others but frankly by just saying that out loud can help a lot of people say like oh that's not for me”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “And frankly, I think the companies that I kind of noticing this anecdotally, but I think that there's something there, I think of masterclass, I think of CODA, I think of this company that we just invested in that hasn't been announced yet, like they're very clear and upfront about their culture in the process. And I think that A attracts people who are excited about that type of culture. And B, by the time that somebody has actually gone through the process, it's very clear to them like what working at the company is like. And that, I think, really drives acceptance, right? CODA, I think, is very good at this, right? Like masterclass, I think, is very good at this. And to your point, this stuff is kind of like vegetables, defining your culture is squishy. And again, like you also want to be thoughtful about diversity and bringing people in with different styles and backgrounds and experiences so that you get access to like all of that brilliance. But how do you also communicate at the same time like kind of who you are as an organization and what your working style is like and how warm and friendly or workmanlike your culture is?”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “I also think one thing I've just been reflecting on the past couple days of just seeing companies that have very good the gold standards like offer acceptance rate how many people that you ask to join actually join”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “I have a friend who's going through a recruiting process in literally the COO and CEO of a company told him completely opposite things when it came to location of the job, who it reports to and what the responsibilities are.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “Didn't that let us be like a secret coming from the other side? Like you never knew what companies were really valued at and how employees do. You see just so much more sophistication there. And frankly, I think it's for the better because people understand what they're walking into. I remember I had a friend who was at a very early company that ended up like was a big high flyer and then struggled and they ended up raising a lot of debt. And like nobody on the employee side knew that like that sat on top of everybody's equity. They didn't understand the capital structure. And I think people are just a lot more sophisticated about that today. And frankly, that's better. And also I think cultures have grown up too. You obviously still hear like stories of bad stuff happening, but like it's not the wild west in the way it used to be. And I think that's a lot better because as a female product manager a long time ago and that was not a fun place to be in the world. And I think like those experiences are pretty different.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “I had the masterclass board meeting yesterday, and when I was in there, I was thinking it was 2017, it was a series C and like how different a series C company is today from that. It just seems like our ecosystem has matured so much. One of the things that you see is also like a lot of standardization across companies around like tooling. Everybody's on Slack. Everybody's on Zoom. Everybody's using the same stack. I think that your average startup employee today is much more sophisticated about what it's to join a startup like a tech company and frankly like ask better questions. I remember before I was a VC, I was like a startup person and I remember when I became a VC and explaining to so many of my friends about like number of shares don't mean anything. It's a made up number. And the questions that you need to ask, nobody knew that back then, like 10 years ago. I also remember when I first started as a VCN, like people would be like, what was the post of your last round? And people would tell us. And I was like, oh my God.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “And that helps you become a hero. That is so compelling. I feel like when products configure that out, it's kind of like liquid gold. You get the internal champion. Often if that person moves to organizations, they'll bring your product with you. They can't imagine living without it. And I think it's all about like, how do you kind of tease that out about the people that you're talking to? Is this something that is fine or is kind of better than the status quo? Or is this something that you're really excited about and makes you a hero? And so we always like try to tease those pieces out.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “They are very qualitative, and frankly, like the best ones, or even kind of like the most qualitative because you get off script. But what Renata was kind of mentioning about scorecarding, we do really try to standardize a lot of our reactions and decisions, even though if it's reactions to a meeting with a CEO or a meeting with a customer, for a couple of reasons, A, so they're comparable against one another, and then also B, for like information discovery, it makes it actually much faster and efficient to pull out the nuggets. And so it's about how do you actually structure them so that there is repeatability? And then also how do you kind of think about what are everybody's incentives here? And especially when I think about like customer calls, thinking about like who is this person and like what's the role in the org and how does this tool or product change that? And especially like one thing that I love and that you see is we've invested in a lot of companies over time, both on the consumer and enterprise side that are like help make people excellent, especially when you see like things that help people be excellent at their jobs. If you can find a piece of technology and bring it into your organization.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Like, I'm like the aggressive, pessimistic one, and Renata is the more conservative, optimistic one. And she's like, it's great because I mean, that's actually like ideal if we were both really aggressive or both really optimistic, like that would be bad. Instead, we're very good foils to each other, but frankly, like you have to recognize that and celebrate that as a positive, not a negative. Because like sometimes I'm in bulldoze mode and like we're not as the voice of reason and it is very annoying because I just want to keep going and she's pumping my brakes for me. And in the moment that's frustrating, but like in the grand scheme of things, like think fucking God.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Exactly, like how we actually complement each other. And actually, frankly, how we celebrate that. That's the way. I know it was Annie Duke who introduced us. Like we work really closely with Annie. And it's funny because Annie loves to do pre-work or, you know, we send her kind of like anonymized answers ahead of time. And she like always knows who is who.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “We got work married, we hired a coach and we did a bunch of like jokingly call it marriage counseling, but spent a bunch of time thinking about who we are, what our values are, how we complement each other. And it came out in that work that I was like the little bulldozer. I like put my mind to something and it's like nothing stands in my way. Whereas Renata is much more of like a surgical ninja. She's like observing and waiting for her mark and like counting whereas I'm just full speed ahead actually our coach joked with us. It's like, oh, that's fine. Just like remember sometimes when we're making bulldozer like Renata and your little scooper and just like bring her along with you. I also love selling and the kind of hunt and the deal. I think we're very lucky too.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “And it was not moving super fast. And Susan, our operating partners, spent some time with him. And one of the things that came out of that conversation was that he was like, oh, I actually love closing. I'm not looking for a CRO because I don't want to go to those final meetings. Like they sold a big, big enterprise to this day. There was a lot of CEO sales because you're a young company, right? To go sell to a big established company, often the CEO has to show up, but he actually loved that. He loved getting to interact with customers and he loved sharing the product. And so really that actually changes the type of CRO that you want because you don't need a closer. The company already had a great closer. Instead, it's about he needed somebody who could really build in that scalable, repeatable organization and who had done that piece before, but not the closing piece. And so it's really so important about like how you identify your own superpowers, like what you really are great at and love to do so that you can complement the things you're not good at. And so we're having an off-site next week and we're doing this for ourselves around our own process.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “So, our operating partner has been working on this thing that she calls founder role design, and it's all about finding your flow and your play. And right, there's all this soft data. There's a ton of research that you're more productive, you're more efficient, you're more creative when you're in flow or you're doing things that you really enjoy. And we also think not only looking for flow, but also like, what are your superpowers? What are you really, really good at? And I actually think doing this work at this stage of company is so powerful because if you can help a founder kind of figure out their role and how it changes, because every day these people are waking up and they're running the biggest company they've ever run. And in the very beginning, you're blocking and tackling and you're setting up the bank accounts and you're doing every job. And then as the company grows, you start to focus more and more. I think at this stage, it's a really great time to step back and say, like, hey, what do I like to do and what am I really good at? Because then you can design the executive team around that founding team to support that. Because, I mean, we have a founder who is running a CRO search.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “We have this amazing operating partner when we really start digging into companies, we involve her in the process and let the CEO or founder spend time with her. And it's a very good indicator, like the folks who lean in are really excited about that conversation and really take a lot out of it or try to hire her from us or generally like good. It's definitely like a good leading indicator that they're excited to work on these things. And there are great companies where founders don't want very hands-off investors, but frankly, like in our years of investing, it's the ones that are open to influence and collaboration and talking to other execs and expertise that really do the best. And so frankly, that's kind of built into our process.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “A million dollars a month to about a million dollars a year generally 20 to 100 employees raising rounds that are between 15 and 50 million dollars and what's interesting is we've done a bunch of deals and they're kind of evenly distributed between A's, B's, and C's because like the letter just tells you about the financing history not about like where the company actually is and what the upside potential looks like so when we think about that sandbox we like to see some like early revenue, some early data, but frankly like when we're digging into these companies and what we really think is the most important is like seeing that customer love. I know we love doing customer calls like we're doing our internal superpowers exercise right now, which is something we can also talk about on the company support side but talking to people who love and use their products and frankly that's a much better proxy than trying to figure out what magic number is right now or sales efficiency or scalable ram time is. These companies are still really early and they're still just a ton of noise in the data. Knowing companies that are going to be excited about the work product really.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “One thing that's been really like fun and exciting about all of this is Renata and I started working on this kind of around this time in 2018 on ourselves and what we would do and at all these hypotheses and some of them have changed and some of them haven't but now that we like get to talk to and invest in founders the most fun part has just been when we do talk about our idea of the super critical stage and the space of life is different and why we focus on a phase of life not a specific round of capital and kind of this like hair on fire issues and frankly the companies that are doing the best are struggling with this the most it's like a very fun problem set to go after in that way because it's not like you're trying to fix companies where things aren't working helping companies that things are working so well that their hair is on fire we see a lot of frankly like CEO self-selection there's a lot of folks we talk to and their eyes get wide and get super excited and they're like that is me or like even we get random like cold emails from very legitimate founders or introductions saying like oh i saw this and like this resonated so much so kind of how we define the super critical stage is about”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Over and also, you know, things around our firm writes a lot about things like fair pay and compensation. How do you actually install those things early so that you don't have to, you're not doing these pay equity audits that, frankly, are very time consuming and nobody likes them. They're not happy and you end up having to go back and change a lot of people's compensation. And that just really is not a good motivator.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “Think one of the most common ones, and that seems like not a big deal, but then can really kind of compound itself is just around titling, especially in the early days, like titles are free. Everybody can be the head of something. Then you can make those heads of more narrow. But then like when you really do want to like grow up and bring in those very experienced executives, it just creates a lot of friction because if I was recruited with a VP title, then I go and I hire somebody who's really a VP, that person feels strange coming in and seeing their peer being not at their level. And then are you going to take that VP title away from me? And I might be a great member of the team, a culture carrier like driving awesome results, but maybe I'm not a BP. I was given that title because it was a way to attract me and entice me to join something early without a ton of compensation. There's like little kind of things like that around how do you get tight on titling and roles early on so that you can kind of set up to scale rather than try to blow everything up and start.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Kind of that early revenue or early customer love things are starting to work but like it's not that repeatable scalable go poor growth dollars in it would be like it was hard to do really hard to do as a growth investor but not that like pure play series a or pure play seed and we saw that because the outcomes are so much bigger and because the lifetime of these companies is being stretched out now there was this new phase and to Renata's point about the rise of seed 10 15 years ago that created a new set of problems and that was a giant opportunity for new firms we believe the same thing is happening now that outcomes can be so large that's this incredible opportunity for all of us the TAM of technology gets bigger and bigger every day but because of that there's a bunch of new challenges and frankly like I think it was a new firm we're uniquely we've kind of had this link slate opportunity to go after them and to really like help companies navigate this”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “Just be mistakes made along the way in your typical growth company and kind of the conversation that we started having around our company support model was really around how do you help companies lay that foundation early on so that they can go and raise those giant rounds today and really deploy and scale and frankly like since we've had this idea and now been running with it frankly that issue is becoming even more acute because today there's so much capital in the system and we see this too it used to be that the number one in the market would at least have like a capital raising advantage because everybody wanted to be the best company but now you see that like the number ones two and three are all able to raise these giant rounds of capital and so now capital is even more commoditized everybody has access to so much money that puts the onus even further on execution and so for us it was around we saw that there's this new week called a new shade of grade at the early stage like this idea of super critical which is there's a product in market”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “Mean the thing is that today tech outcomes can be bigger than ever. We have four trillion dollar plus companies, right? They're all tech companies. We see $10 billion plus IPOs as a pretty new normal. And that's exciting. That's this amazing opportunity. But frankly, because it's also easier to get started and also the way the public markets are structured today, like you need to be bigger than ever to be really successful. And the truth of the matter is, is in order to be that amazing $10 billion CEO, you got to build a big company too. One of the things that we would see with repeat entrepreneurs, for instance, the things that they were really getting right was about that team. And what we were also seeing, especially me, like I was a growth investor at the time, seeing these amazing companies, incredible financials, products people love, like flying off the shelves and like Ronaldo's point, the organizations would be really raw and the conversation was always like, oh, we're going to hire our chief people officer and we're going to figure all that out. And it would just take a really long time to hire that person.”

    2021-08-24 · Invest Like the Best · Renata Quintini and Roseanne Wincek - Investing at the Supercritical Stage - [Invest Like the Best, EP. 240] · IDENTIFIED FROM THE TRANSCRIPT · source