Podcast summary and Notes on " private markets"

Scott Kupor: The Secrets of Sand Hill Road.

Start of Interview [1:51]
How is a16z dealing with COVID-19, plus its new Talent & Opportunity Fund [2:31]
Scott's professional background [3:48]
The shift from traditional VC firm to Registered Investment Advisor (to pursue investment opportunities beyond traditional equity, such as crypto) [6:00]
The governance chapters of his book The Secrets of Sand Hill Road. Distinctions between public and private venture-backed boards [12:11]:
1. The contrast in board composition in the private and public board context [12:38]
2. Dual fiduciary duties owed by VC directors [13:48]
3. "Common controlled" boards vs "preferred controlled" boards [14:50]
Andreessen Horowitz' different approach to support its portfolio CEOs post-investment (institutionalizing the network) [17:03]
Number of boards seats held by VC investors (and why it's different to public boards) [20:33]
Scott's take on dual-class shares, and distinctions in the private and public company context [25:13]
Scott's take on tenure-voting ("rethinking what's fair in corporate governance") [29:10]
Why a16z invested in the Long Term Stock Exchange [32:35]
Scott's recommendations to boards of venture-backed companies in down-rounds and M&A [36:09]
Trends of independent directors in venture-backed companies [40:00]
The rise of private markets in the tech financing ecosystem [42:46]
The new governance challenges of late stage private companies [44:20]
The Purpose of the Corporation and the Governance of Cryptonetworks [47:06]
Two of his favorite books: "The Lost Lawyer" by Anthony Kronman, and "The Master of the Senate: the Years of Lyndon Johnson" by Robert Caro [54:06]
His mentors: Marc Andreessen, Ben Horowitz. Early (informal mentor): Armin Weinberg [55:38]
His favorite quote “In the long run, we are all dead” by John Maynard Keynes. [57:13]

Scott Kupor is the managing partner at Andreessen Horowitz where he is responsible for all operational aspects of running the firm. He has been with the firm since its inception in 2009 and has overseen its rapid growth, from three employees to 180 and from $300 million in assets under management to more than $12 billion.

Scott is chairman of the board of Genesys Works; cofounder and co-director of the Stanford Venture Capital Director’s College; Executive in Residence at Haas School of Business and Boalt School of Law; and a Lecturer at Stanford Law School. He is vice-chair of the investment committee of St. Jude’s Children’s Cancer Research Hospital and also serves as a member of the investment committees for Stanford Medical Center, the Silicon Valley Community Foundation, and Lick Wilmerding High School.

Scott served as Chairman of the Board of the National Venture Capital Association (2017-2018). He is the author of the national bestselling book Secrets of Sand Hill Road: Venture Capital and How to Get It, published by Portfolio, a division of Penguin.

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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Boardroom Governance with Evan Epstein

enJune 11, 2020

Introducing In Visible Capital with PitchBook

For more information, visit pitchbook.com.

In Visible Capital with PitchBook

enJune 08, 2020

00. How To Become A Solomon Investor

Today, we’re discussing what the process of becoming a Solomon investor is like. For over fourteen years Blake Templeton has helped investors activate their net worth and build wealth without any of them ever losing any money. Pretty unheard of results when it comes to the world of investing.

So how did Blake achieve all of this especially amid the housing bubble? The housing market crash wasn’t a failure of the real estate world. It was a failure of the centralized banking system. An overinflated debt bubble where banks continued to lend to customers at exorbitant rates caused the whole system to suffer. It was all an illusion of price rather than value.

Blake was in the real estate world during this time but was buying on value. No one else made that switch so the centralized banking system was way over-leveraged. He was finding success with his methods and wanted to help duplicate it for others. He began to brainstorm how he could multiply his successes and share it with others.

He dialed in on biblical principles and began to study King Solomon’s methods. Through studying the tactics of the world’s first trillionaire, Blake learned exactly how to activate net worth and protect assets. Through reprogramming the rules and beliefs held by traditional investors, Blake and the rest of the team at Boron Capital are helping others do the same.

Key Takeaways: