The Learning Corner by Precursor

The Learning Corner by Precursor

By Mia Farnham, Charles HudsonBusinessTechnologyInvesting
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The Learning Corner by Precursor episodes

  • Episode #20: AgTech and Venture Capital, Signs of a Failing Company, What The Heck Does Pre-Seed Even Mean?
    In this episode of The Learning Corner, the conversation kicks off with insights into understanding the role of Agtech in early-stage investing. The discussion then moves to identifying signs that a startup might be on the brink of failure, with a focus on the critical role of product velocity. Attention is given to recognizing red flags in founder behavior that could signal potential challenges. The episode concludes with a detailed exploration of pre-seed rounds, highlighting their significance and impact on the broader venture capital landscape.

    Is Agtech Broken for Venture Capital—or Are We Asking the Wrong Question? by Sarah Nolet

    9 Signs a Startup Isn't Going to Make It by Amelia Ibarra
    What Actually Is a Pre-Seed Round by Peter Walker

    (0:00) Picking the right people and agtech in early-stage investing
    (6:50) Signs a startup might fail and the importance of product velocity
    (11:22) Recognizing red flags in founder behavior
    (13:34) Defining pre seed rounds and their impact on venture capital
    19 min
  • Episode #19: Venture Capital 3.0, Deciphering Early Stage Traction, 90's Tech Bubble vs. Current AI Valuations
    In this episode of The Learning Corner, the discussion kicks off with an introduction to the podcast and the significance of ARR milestones in the startup journey. The conversation then transitions into the evolving landscape of venture capital in the AI era, examining AI's influence on VC operations and the unique challenges faced in pre-seed funding. The episode delves into the nuances of analyzing early-stage traction, debunking common misconceptions. A comparison is drawn between the current AI investment hype and the 1999 tech bubble, offering insights into the potential parallels. The episode wraps up with a forward-looking perspective on AI investment strategies and concluding thoughts.

    How “Venture Capital 3.0” Impacts Founders in the AI Age by James Currier

    On seed-stage startup traction (and why to ignore it) by Jared Heyman
    Have We Been Partying Like It’s 1999? by Paul Krugman

    (0:00) Introduction and the significance of ARR milestones
    (0:49) Venture capital insights in the AI era
    (2:18) AI's influence on venture capital operations
    (5:19) The role of AI in PreSeed venture challenges
    (7:15) Analyzing early-stage traction in investments
    (12:14) Context and misconceptions around early-stage traction
    (14:55) Comparing AI investment hype to the 1999 tech bubble
    (17:19) Future outlook for AI investment strategies
    (19:08) Conclusion and final thoughts
    20 min
  • Episode #18: Founders Quitting vs Stopping, The Rise of Spinout VC Funds, AngelList State of Venture Report
    In this episode of The Learning Corner the episode delves into Hunter Walk's essay, exploring the critical themes of founder perseverance and timing decisions in the startup journey. The conversation then shifts to a Forbes article examining Sarah Guo's recent fundraise and the opportunity of spinouts across venture capital. The episode also reviews the AngelList state of venture report, offering a comprehensive look at current and future trends in seed and venture dynamics.

    I never want founders to QUIT, but sometimes they should STOP by Hunter Walk

    Goodbye Golden Handcuffs, Inside the Partner Exodus Rippling Across Venture Capital by Forbes
    The State of Venture in 2024 by AngelList

    (0:00) Introduction and welcome
    (0:42) Hunter Wach's essay on founder perseverance and timing decisions
    (7:02) Forbes article on Seroquel's latest fundraise and spinout challenges
    (13:17) AngelList state of venture report and future trends in seed and venture dynamics
    (18:47) Closing remarks and thank yous
    20 min
  • Episode #17: DeepSeek, Importance of Running a Fundraising Auction, Growing Seed Round Sizes
    In this episode of The Learning Corner, the discussion begins with an introduction to the podcast, setting the stage for an analysis of DeepSeek and ripple effects across venture, the public markets and startups. The conversation then shifts to predicting the future of AI, focusing on the potential of low-cost models. The episode explores auction-based fundraising, offering practical advice for founders. The importance of maintaining an updated diligence room for founders is emphasized, followed by a discussion on the dynamics of seed rounds, where size truly matters. The challenges and tips for founders navigating large seed rounds are also covered. The episode wraps up with closing thoughts and a call to action.

    DeepSeek Has Been Inevitable and Here's Why by Steven Sinofsky

    Always Run an Auction by Aaron Harris
    Seed Rounds Got Larger Through The Downturn. Why Is That? by Crunchbase News

    (0:00) Introduction to The Learning Corner by Precursor
    (1:35) DeepSeek's impact on the venture ecosystem
    (3:15) Predicting the future of AI and low-cost models
    (6:08) Auction-based fundraising and founder advice
    (12:11) The importance of an updated diligence room for founders
    (14:38) Seed rounds dynamics: Size matters and its implications
    (18:06) Challenges and tips for founders on large seed rounds
    (20:07) Episode closing and call to action
    21 min
  • Episode #64: Hubristic Fundraising's Hidden Costs, VCs Can't Win Talent, SaaS Death Greatly Exaggerated
    This week we discuss Jason Lemkin's analysis of Brex's $5.15B exit and how hubristic fundraising creates impossible success benchmarks, Auren Hoffman's controversial claim that VCs overpromise their ability to help with hiring in today's AI talent war, and Saanya Ojha's defense of SaaS business models against claims of obsolescence. We explore why massive valuations attract mercenaries over missionaries, whether venture capital firms can truly move the needle on talent acquisition, and how vendor fatigue and data moats protect incumbents from AI disruption. Join us as we challenge conventional wisdom on fundraising strategy, investor value-add, and the future of enterprise software.

    Brex and The Pros and Cons of Hubristic Fundraising

    VCs can't help with hiring

    The Death of SaaS Has Been Greatly Exaggerated

    (0:14) Introduction and episode overview
    (0:42) Hubristic fundraising overview and insights
    (3:03) High valuations, late-stage investments, and founder secondaries
    (6:14) Recruiting challenges and VC's role in hiring for startups
    (12:30) The impact of smaller funds and community building
    (13:10) SaaS and AI: Trends, vendor fatigue, and pricing strategies
    (19:53) Closing remarks and listener thank you
    21 min
  • Episode #16: Pre-Seed/Seed M&A Activity, Solo Founders, Harvey $3B Raise, Fund Performance Recalibrations
    In this episode of The Learning Corner, the conversation begins with an engaging overview of the current venture ecosystem, setting the stage for a discussion on M&A trends in venture capital. The focus then shifts to the unique challenges and dynamics faced by solo founder startups. The episode explores the rise of legal AI startups and their significant impact on the industry, followed by insights into AI's broader influence on professional services. The discussion also addresses how to navigate valuation resets within the venture capital landscape. The episode concludes with thoughtful closing remarks, bringing together the key themes explored.

    Half of Startup M&A is Pre-Seed/Seed by Carta

    The Percentage of Startups With a Solo Founder is On The Rise by Carta
    Legal AI Startup Harvey Set to Double Valuation to $3B by Bloomberg
    Corrections Across Funds by Jackie DiMonte

    (0:00) Introduction and Venture Ecosystem Overview
    (1:52) M&A Trends in Venture Capital
    (5:04) Solo Founder Startups and Team Dynamics
    (10:38) The Rise of Legal AI Startups and Their Impact
    (13:10) AI's Influence on Professional Services
    (15:29) Navigating Valuation Resets in Venture Capital
    (19:47) Closing Remarks
    21 min
  • Episode #15: Andrea Funsten, Robert Vinall, Manny Medina
    In this episode of The Learning Corner, the conversation opens with a warm welcome, setting the stage for an exploration of transparency in venture capitalists' investment memos. The discussion then transitions to a presentation on the lessons learned from mistakes of omission in investing, offering valuable insights into recognizing and avoiding missed opportunities. The episode also delves into a LinkedIn post discussing the intersection of SaaS founders, AI, and evolving business models, highlighting the innovative ways these elements are reshaping the industry.

    Why Venture Capitalists Rarely Share Investment Memos by Andrea Funsten

    Mistakes of Omission by Robert Vinall
    Sorry To Break An Uncomfortable Truth to SaaS Founders by Manny Medina

    (0:00) Introduction and welcome
    (0:38) Article: Venture Capitalists and Investment Memo Transparency
    (6:43) Presentation: Lessons in Mistakes of Omission in Investing
    (13:41) LinkedIn post: SaaS Founders, AI, and Evolving Business Models
    20 min
  • Episode #14: The Information, TechCrunch, LifeSciVC (shared by Jay Ripley)
    In this episode of The Learning Corner, the discussion kicks off with insights into venture financing, setting the groundwork for a deep dive into Bench's shutdown and the dynamics between investors and founders. The conversation then navigates the complexities of venture debt, highlighting potential pitfalls, and addresses trust issues in founder-investor relationships. An exploration of Silicon Valley's unique venture capital landscape is followed by strategies tailored for non-Valley founders. The episode also delves into venture capital economics and fund strategies, comparing exits in biotech and emerging sectors.

    Accounting Startup's Sudden Shutdown Adds to Fintech Woes by The Information

    Silicon Valley is so dominant again, its startups devoured over half of all global VC funding in 2024 by TechCrunch
    Atlas XIV And Reflections On The VC Math Problem by LifeSciVC

    (0:00) Introduction and venture compensation insights
    (0:52) Bench's shutdown and investor-founder dynamics
    (2:52) Venture debt and its pitfalls
    (4:38) Trust issues in founder-investor relationships
    (7:27) Silicon Valley's venture capital landscape
    (9:24) Strategies for non-Valley founders
    (13:22) Venture capital economics and fund strategies
    (17:13) Comparing biotech and emerging sector exits
    (19:35) Closing remarks and next episode preview
    20 min
  • Episode #13: Rob Go, Zain Rizavi, New York Times
    This is the last episode of 2024 for The Learning Corner, and it's packed with great insights from across the ecosystem. The discussion first shifts to the dynamics of founders choosing firms and people, offering recommendations for repeat founders and insights into risk assessment. The episode delves into investment strategies, emphasizing timing and due diligence, and compares public and private market investing. An exploration of the history and evolution of venture capital is provided, alongside an analysis of founder preferences and decision-making. The dialogue highlights significant learning moments and predictions for the venture ecosystem, wrapping up with closing remarks and expressions of gratitude.

    Repeat Founders and the Risk of a False Positive - Rob Go

    Invest Now, Investigate Later - Zain Rizavi
    What Is Venture Capital Now Anyway? - The New York Times

    (0:00) Introduction and welcome
    (0:43) Sponsor: Allegoord team
    (1:29) Founders choosing firms and people
    (4:02) Recommendations for repeat founders and risk assessment
    (6:21) Investment strategies: timing and due diligence
    (9:53) Comparing public and private market investing
    (11:43) History and evolution of venture capital
    (16:56) Understanding founder preferences and decision-making
    (18:03) Biggest learning moments and predictions for the venture ecosystem
    (19:08) Closing remarks and thank yous
    20 min
  • Episode #12: Peter Walker, Benedikt Langer, Aaron Levie
    In this episode of The Learning Corner, the conversation begins with an introduction to the series, leading into a discussion on graduation rates from seed to series A. The analysis delves into factors influencing these rates and emphasizes the importance of patience in investment. The focus then shifts to the balance between profitability and growth in startups, followed by insights on building reputation and personal brand within the venture ecosystem. The episode explores marketing strategies in venture capital and discusses Aaron Levie's post about AI agent pricing. A look into the future landscape of B2B SaaS is provided before wrapping up with closing remarks and expressions of gratitude.

    Percent of startups make the leap from Seed to Series A - Peter Walker

    Building a Reputation, Not a Brand - Benedikt Langer
    Fun AI Questions - Aaron Levie

    (0:00) Introduction to The Learning Corner
    (0:48) Graduation rates from seed to series A
    (2:06) Factors influencing graduation rates and the importance of patience in investment
    (6:01) Balancing profitability and growth in startups
    (7:30) Building reputation and personal brand in the venture ecosystem
    (10:23) Marketing strategies in venture capital
    (17:15) Discussion on Aaron Levie's post about AI agent pricing
    (21:26) The future landscape of B2B SaaS
    (21:54) Closing remarks and thanks
    23 min

About The Learning Corner by Precursor

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Welcome to the Learning Corner, a weekly Precursor Ventures podcast, where members of the Precursor team walk through their favorite articles and news snippets across the venture ecosystem.