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Today we’re back with Sam Lessin for a round 2 focused on the changing landscape of venture. We dig into the viability of M&A as a strategy for startups, “its always been crypto”, media businesses, and the role of reputation systems.
Today we’re back with Sam Lessin for a round 2 focused on the changing landscape of venture. We dig into the viability of M&A as a strategy for startups, “its always been crypto”, media businesses, and the role of reputation systems. If you need an ecommerce platform, check out our sponsor Shopify: https://shopify.com/momentofzen for a $1/month trial period.
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RELATED SHOWS: https://link.chtbl.com/thelimitedpartner
If you like Turpentine VC, check out our show The Limited Partner with David Weisburd, where David talks to the investors behind the investors: https://link.chtbl.com/thelimitedpartner
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X / TWITTER:
@samlessin (Sam)
@eriktorenberg (Erik)
@Turpentinemedia
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TIMESTAMPS:
(00:00) Episode Preview
(01:27) Round 2 with Sam, the VC Doomer
(06:24) The mechanism of how low interest rates leads to public markets valuing companies at super high multiples
(10:28) Disruption fundamentally changed who the winners and losers would be
(15:49) Sponsor - NetSuite
(16:50) What would a $100B company look like in 15-20 years
(18:39) Why founders should invest as if it might possibly be their last round
(21:24) On capital intensive businesses
(23:20) The emergence of cultural changes after Covid-19
(26:16) Most VCs are just asset managers and not real VCs
(28:27) The only way to make real money is to be betting differently
(30:37) Small business platforms: the revenge of main street
(36:36) Do franchises go public and the fundamental liquidity question
(38:33) Do we expect meaningful M & A and is that a viable strategy for a startup?
(42:01) What's the best business to build on top of media company?
(45:50) Trust in media and creators
(51:20) Sam's insights on reputation businesses
(55:00) Sam's take on advanced reputation system
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LINKS:
Sam's podcast More or Less: https://podcasts.apple.com/us/podcast/more-or-less/id1692234179
Sam's thoughts on Figma/Adobe failed merger: https://x.com/lessin/status/1736876974851985632?s=20
