Entrepreneurs, Then and Now (A16z, 44 min listen)
The founders of Andreessen Horowitz – a leading Silicon Valley venture capital fund – discuss the company’s history and their views for the future. Though many think tech is in a bubble, they feel that too many people are still bearish for it to be the type of bubble it was in the late 1990s. Indeed, they highlight how there have been constant fears of a bubble for the past ten years. When they formed their company in 2009, many were concerned that the aftershocks of the financial crisis would torpedo the tech sector. Then in 2012 when Facebook IPO’d many thought that was the peak.
Today, the Andreessen Horowit founders expect more upside in online-to-offline (O2O) plays - think the AirBnB/Uber model moving to other sectors. They are also looking for the new user interface beyond the iPhone, at the use of augmented reality (AR) and virtual reality (VR), and at bio-tech such as genomics, CRISPR, and synthetic biology. We also learn about their investment philosophy in general. Don’t question the possibility of new tech, only how big it might get. On timing, ask, is the tech ready? Is the market currently receptive? And are there any potential regulatory issues? The founders also dole out some handy tips on treating differently first and second time entrepreneurs and reveal their own focus on ‘process’ (they substantially revise it after both good and bad outcomes). Listen to the end for a great book recommendation – “Thinking in Bets”.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)
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