Ed Suh
@edsuh
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Founder & Managing Partner https://t.co/nWvFQXqeQY
Joined October 2011
Other than YC, is there a single example of a VC firm that’s truly built a community around their brand? So many VCs boast about their “community building” efforts with their founders. Yet all that amounts to in most cases is a handful of generic events (dinners, conferences,
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Tale as old as time: a few GPs spin out of prominent venture brands & start a new firm. They boast about how lean & hungry they are, there are zero politics because they're equal partners, they're 100% focused on new investments because they have no legacy board load. As a
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Founder PSA: until you have a document in your inbox, you do not have a real offer. When the market is frothy & fast moving, as it is today, VCs may use convincing but subtly non-committal language to make it sound like they are giving you an offer when they are not. Phrases
This fall, we’re seeing a lot of strong verbal intent that aren’t converting to termsheets. This leads some founders to overplay their hands and a lot of time wasted. When you’re raising, the #1 priority is to land a solid first termsheet
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There are a hundred variants of this person at every single SF tech event. Hence why I avoid SF tech events
Been at this party way too many times, when the convo goes like this within the first 30 mins you know it’s time to leave
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There are even more “emerging manager VCs” who raise $5-50M and do the same
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A tale of two founders (not an investor in either, but know both): 1) Raised pre-seed: wants to film a slick launch video, pay for PR, loudly announce the round. 2) Raised big Series B: doesn’t want to announce at all. In his words: “don’t want to attract or motivate
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Nico getting a new job in the Lakers front office would be the greatest 4D chess move in sports
BREAKING: The Dallas Mavericks and owner Patrick Dumont are expected to fire general manager Nico Harrison at a 10 am central time meeting on Tuesday, sources tell me and Tim MacMahon.
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VC investing is in many ways a game of picking companies whose revenue growth far outpaces their eventual multiple compression
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An extraordinary investor is tapped to co-lead his firm, and the moment the spotlight shines on him, he calls out every teammate and highlights their superpowers. That’s true leadership and a culture carrier.
1/ We @sequoia have always said that we’re only as good as our next investment. It’s also true that we’re only as good as our next generation @Alfred_Lin and I get to work with the best generation yet:
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100% accurate, and this is assuming the day’s workload is straightforward low stakes pitch materials. If you’re staffed on a complex and fast moving live deal (or multiple), God help you. Startup 996 hours are a cakewalk in comparison
Reality of being an investment banking analyst > wake up at 8 AM, tired from turning useless comments from your VP until 3 AM the night before > make it out of your shoe-box NYC apartment by 8:45 AM. Check email on the subway. Already 3 emails filled with new comments and 4 new
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A disproportionately large number of successful business leaders have the following physical superpowers: 1) Can maintain high focus & energy with little sleep 2) Can catch up on sleep anytime/anywhere (aka Economy seats & cabs) 3) Don't get jet lag
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There are 3 types of VCs in terms of decision making authority: 1) Can officially do whatever they want 2) Can unofficially do whatever they want through soft power and influence 3) Need to get approval from 1-infinite peers or bosses to do anything
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OH from a relatively large LP: "if I see a VC fund deck with the terms gross MOIC or deal MOIC, it's an instant pass. I want to see 3 numbers in large bold font on the first page: TVPI, DPI, IRR (all on a net basis)."
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There is an “on track” version of this that’s just as rough and uncomfortable. It’s called investment banking
Men ages 18 to 25 should NOT be "comfy." They should not "stay on track." They should go way off the reservation, live rough, slum it, be sailors, infantrymen, ruffians, hoboes, roughnecks, etc for a while. The most high-quality men I know all did something like this early on in
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💯 VCs place unusually strong weight on portfolio references. On top of that, many source investments based on new tools their portfolio uses, which further reinforces this dynamic
It’s funny how much faster startups get VC hype (esp from multistage VCs) when they sell into VC-backed companies vs true enterprise. If several portco’s use you, you’re hot. If not, later stage VCs often barely notice you, even if your enterprise deals are bigger + more stable.
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Being willing to work on, and find interesting, areas that everyone else finds boring and not worthwhile, for long periods of time, is an enduring competitive advantage
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In every category, even ones that seem commoditized, 1-3 companies that eventually become synonymous with the category, the default option, the standard. Once that mindshare is broadly established, it’s almost impossible to supplant. In many AI verticals, these defaults are
$2M ARR in three months used to be impressive. Now we expect it within ten days. Right now, momentum is the only moat.
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💯 Duolingo is not “ed-tech”. It is a game. Every aspect of what drives usage, engagement, retention, and revenue is based on games
when will people realise Duolingo is not a language learning app?
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"Beware the man in the t-shirt, not the man in the suit" as the saying goes. We are conditioned from childhood to look for markers of status & importance: a nice car, a big house, fancy clothes, an expensive watch, Michelin star meals. In reality, the kind of person who has to
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