Role Model. 'Ecosystem' #7
Your weekly guide on tech news, early stage fundraising and venture capital.
Welcome to another ‘Ecosystem’ newsletter! Thank you for being part of this journey from the very beginning! For access to all monthly events, archive and expert-led workshops become an annual subscriber.
What do you want to be when you grow up? The question becomes less common as the answer finally gets clearer(and the present turns into a past tense!). The conversations with my teenage sister lead me to wonder a) how rightly its framing even is and b) what the broader Gen Z aspirations and dreams are.
Technology has improved access to information and resources like never before. Is the younger generation able (or interested to) leverage its potential? The answer is deeper than can be expanded upon here, but it does relate to having good role models - on a family level and in society.
Back to the ‘what do you want to be when you grow up’ question, the answer of my 13 year old sister - an interior designer. She had found an interactive design app to effectively learn by doing. A useful tool but it missed two key components for her to become a regular user - gamification (what happens when the dream room is designed?) and the social element (no community).
“What if you could add the missing features? What if you could build a better app?”
While she didn’t understand my questions at first, as I continued to explain how anyone can learn how to code and build an app, her excitement to learn more grew. “Show me a girl who has coded a game.”
If embarking on something new - a business, a career or even a skill, most of us (even subconsciously) look for someone, a real person, who has conquered this challenge and excelled. Anyone we can directly or indirectly learn from, that has made the impossible possible. It is not a question of what, but of who. So a) who is your role model and b)who are you a role model for?
“You don’t have to be a genius or a visionary or even a college graduate to be successful. You just need a framework and a dream.” - Michael Dell, Chairman and CEO, Dell Technologies
“Know what you don’t know. Surround yourself with people who are smarter than you are in different areas and learn from them.” - Emily Weiss, Founder, Glossier
Ecosystem Events
In the past four months, the Ecosystem events brought together entrepreneurs, VCs, corporate and public sector actors in discussions on topics ranging from the state of innovation post-Covid to diversity in venture capital and technology.
Highlights of the panels ‘under lockdown’ where leading venture capital firms like Lakestar, Partech, Speedinvest and corporate leaders like Bosch took part:
I’m sharing my thoughts on ‘Ecosystem’, diversity in venture and purpose-driven entrepreneurship on the latest Kaiku* podcast. Take a listen here.
In July, the format changed to #EcosystemGiants - smaller sessions featuring the investors and founders, redefining the startup and tech investment landscape in Europe and beyond. If you missed out on the August event with Maren Bannon (January Ventures) and Yvonne Bajela (Impact X Capital) and are a premium subscriber, watch the recording here.
When is the next one? Join the Ecosystem community on Chalk to find out.
Innovation Ecosystem Updates
Whether you are an investor, a founder, an operator, a corporate or a friend. My top (about) 5 news stories this week that you may find of interest too.
Has the pandemic and the shift to remote work accelerated the urban exodus? Flat inventory has risen by 96% year-on-year in San Francisco as tech workers leave (WSJ). The median charge for New York City apartments dropped 10%; with Manhattan rents plunging by the most in near nine years(Bloomberg). London’s most affluent areas have seen a drop by as much as 40% (Homes and Property, Evening Standard).
Initialized Capital has raised $230 million for fund V (with a new GP and without former Co-Founder and Managing Partner Alexis Ohanian) via TechCrunch. While Ohanian has started raising for his new early stage VC firm via The Information.
Did you know Belarus, Europe’s last dictatorship, is one of the continent’s most buzzing tech hubs? Now, after a disputed election, the country’s innovators are demanding a radical change. The story on anti-government protests, mass violence and the response of 500 tech leaders via Euronews.
A dynamic time for Europe’s fintech scene. Revolut’s losses triple (Sifted) while N26 faces outcry from its staff over management and allegedly tries to ban employees from meeting to form works council(Financial News).
Opportunity in a time of crisis. Gymshark becomes UK’s newest £1bn start-up(The founder, Ben Francis, is to become Britain’s richest self-made person under 30!) via The Times. In the U.S., 2020 may be the best year for IPOs since the dot-com bubble via Quartz.
Funder
How do top VCs evaluate your pitch on Zoom? Gigi Levy Weiss(Managing Partner,NFX), Sarah Tavel (General Partner,Benchmark) and other leading investors share the successful tactics they’ve seen founders use and ways they’ve altered their own investment processes.
Will we need technical skills in workflow management, web development, and visual design in the future? Sree Kolli (VC Investor and Co-Founder, Conduit) on the rapidly scaling low/no-code cloud-based tools market.
How well do you know your metrics and can construct your financials? Investor and advisor Alex Oppenheimer explores in detail the fundamental components of an ARR buildup.
Founder/Operator
The algorithm is driving the digital economy. Eshita Nandini(Data Analyst,Shareworks by Morgan Stanley) on what companies should consider as they are adopting AI to improve business functions and the problems that could emerge(uncleaned data, unintended bias).
Pinterest has recently been shaken by discrimination allegations. The scaleup’s former COO Francoise Brougher reflects on joining to solve the typical problems fast-growing tech businesses face, what she learned and how to improve company culture/create an effective working environment.
How to build products that can turn any user into a power user? Rahul Vohra,(Founder, Superhuman) shares valuable insights on prosumers, expanding to a second product and reaching scale by helping every customer become a net promoter. (Not new, but recommended!)
Twitter Highlight(s)
Anthony "Pomp" Pompliano, Co-founder & Partner at Morgan Creek Digital
Allison Barr Allen, Co-Founder & COO, Fast
Startup of the week
Krisp, a startup using AI to mute background noise during calls.
Tweet @krispHQ to share it’s been featured in ‘Ecosystem’!
Startup Go-to Resources
Fundraising in a Pandemic World : Words of wisdom by Semil Shah, founder of Haystack Ventures and Venture Partner at Lightspeed Venture Partners.
B2B Selling in COVID-19 : 16 key questions to help you sell and survive; a guide by the investment team at a16z
The ultimate guide to Startup Metrics : What to track, when and why - a must read by Speedinvest Pirates(the growth marketing unit of Speedinvest!)
The All Raise Summer 2020 Reading List : A selection of the favorite books by 26 exceptional funders, founders and operators
20:VC with Joe Thomas (Founder and CEO, Loom) on how early stage founders should select their investors
How are company valuations made? An encompassing guide on multiples by A16Z
Against The Odds: Underrepresented Founders Report Positive Outlook on Business Despite Extra COVID-19 Pressures. An insightful infographic by AllRaise.
Thank you for being part of the second ‘Ecosystem’ newsletter!
*Kaiku helps startups to source early stage funding, become investment ready and find the right partner network to scale.*