Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #362
What's 🔥 in Enterprise IT/VC #362What's ahead in Q4 from LPs and VCs (Origins Podcast) - more shutdowns?, hard choices for seed funds?, net new company funding 🔥, default 1st 10 in office, TVPI vs. DPIThe latest episode of the Origins Podcast co-hosted by friends Beezer Clarkson (LP extraordinaire from Sapphire Ventures) and Nick Chirls (Notation Capital, pre-seed creators) is finally out. We recorded it on Friday afternoon of Labor Day weekend so I kind of forgot what we talked about but just listened this week and thought I’d share as it’s pretty juicy and dare I say it, spot on. Seyonne Kang, Partner at Stepstone is also on the show and if you don’t know Stepstone, you should, as it manages >$140B of LP capital investing in PE and VC along with directs. If you want a quick synopsis as a founder raising your first round or a seed founder looking to do an A, here’s what I had to say (transcript from clip below)
There is so much more depth and some spicy takes when it comes to what happens to all of the overpriced, inefficient 🦄, can an AI fund raise capital from LPs, and how LPs look at DPI being manufactured vs. TVPI and digging into what’s real.
The conclusion is that the market is one of the haves and have nots - it’s pretty binary. Here’s one more clip on why it’s easier for multi-stage firms to write checks into net new cos super early vs. coming into one of the dozens of seed funded startups that are doing ok, but not great - the tweeners are the ones where seed funds need to figure where to put the chips on table and go all in or help find a soft landing - clip here. Switching gears and back to one of my favorite topics, sales, this post from Ryan at RepVue shows how hard it is for reps at smaller companies to hit quota, especially in these economic times as buyers are consolidating vendors and looking to buy from the safe choice. This is also why I go back to my point from a previous post - if you want to hire the best reps as Rep 1, 2, and 3, you have to pay them. Set lower quotas, higher commissions and adjust over time. More on paying your early reps and how to set the right bar: As always, 🙏🏼 for reading and please share with your friends and colleagues. Also 🙏🏼 for my friends in Israel for peace and a swift end to this conflict. Scaling Startups
Enterprise Tech
Markets
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What's 🔥 in Enterprise IT/VC #361
Saturday, September 30, 2023
PLG, PLS, Sales led 🤯 - enough acronyms, build a product, sell it efficiently
What's 🔥 in Enterprise IT/VC #360
Saturday, September 23, 2023
IPOs, Splunk for $28B, mega funding rounds + M&A - are we back or is this just a mirage?
What's 🔥 in Enterprise IT/VC #359
Sunday, September 17, 2023
Going from Non-obvious to $100M ARR - the Security Scorecard journey
What's 🔥 in Enterprise IT/VC #358
Saturday, September 9, 2023
OK, we get it, you're an AI co but isn't everyone?
What's 🔥 in Enterprise IT/VC #357
Saturday, September 2, 2023
Fundraising tips for the post-Labor Day sprint
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