E724: Investor Outlook with Gil Penchina (Flight.vc), Cyan Banister (Founders Fund), Ryan Feit (SeedInvest); Jed Katz of Javelin Venture Partners on a step-by-step practical guide to getting your Series B

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about this episode

There are two things that startups need: money and growth. Money is the fuel, and growth happens typically through investments, and through making better products and technique. Filmed at LAUNCH Festival 2017, Jason interviews an all-star panel of investor thought leaders. Gil Penchina is a super angel of super angels that has dominated the syndicate space. Cyan Banister started as an angel investor and has moved upstream to be a venture capitalist at Founders Fund. SeedInvest CEO and co-founder Ryan Feit is making a huge bet on the equity crowdfunding revolution. And then we welcome Jed Katz of Javelin Venture Partners, who follows up his classic Series A checklist with his thorough Series B playbook.

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Timestamps:

1:29: Jason introduces the all-star cast for the Investor Outlook panel: Gil Penchina (Flight.vc), Cyan Banister (Founders Fund), Ryan Feit (SeedInvest)

3:00: Gil has been running syndicates on AngelList for 3 years and shares the story of how his service bureau started

5:52: Cyan explains why she decided to leave AngelList to go to Founders Fund

12:25: Ryan explains equity crowdfunding

15:07: Gil shares his thoughts on the resistance to crowdfunding

18:58: Cyan talks about her deal, and why she chose to include Jason’s syndicate and an AngelList syndicate, and her own money

20:39: Ryan imparts advice for non-accredited investors

24:47: Gil on downsides to syndicates

26:50: Ryan on the cost of a crowdfunding campaign

33:45: Jed Katz provides a framework to help set your company up for success

34:45: Premise

35:32: First and foremost, enjoy the moment

35:43: The odds are against you

36:41: Start with 12 month goals

37:24: Making cash last

38:31: A few best board practices

39:54: Recruiting and culture

41:20: Engineering and sales roadmaps

42:46: Metrics are important

44:25: Lowering risk

45:18: Other key things to avoid

46:48: Choosing which funds to engage

49:35: Some final words of wisdom

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