A short building-in-public tweet thread on how we're thinking about meeting up in person both within our team and within our larger @HustleFundVC community

Read on >>
1) Everything is a moving target, so I'm sure our stance will change in 2 months.

But, for now, we see the SF Bay Area as a place where we feel safe & confident enough to meet up in person w/ the high vaccination rates here.

As such, we are doing our in-person team offsite here
2) That said, COVID-19 is still bad in many other places and/or it's still hard for many of our team members to come to the US either because of the US visa backlog OR strict quarantining laws abroad.

Our offsite will be missing team members. :(
3) In addition, ALL of our events whether internal or external will be held outside (barring unforeseeable circumstances such as super smoky days due to wildfires).
4) We will also require all event attendees to be *vaccinated* (unless extenuating health reasons).

While this may be controversial in some circles, I see this as a matter of safety for all attendees.

In a similar way, we also don't allow smoking or sword throwing at our events
5) Obviously, COVID-19 will be with us forever.

But, as a company, we are still being quite cautious about gathering large groups of ppl and when we do, taking many precautions until vaccines are available widely internationally & for children.

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More from @dunkhippo33

19 Jul
Today's thread is on how to go back to an investor after being turned down.

Is it worth it? And if so, what should your approach be?

Read on >>
1) Let's say you have a great experience (and to be clear, if you have a bad exp, then you may not want to go back!) with an investor but are turned down.

Should you go back?

I think this is a q so many ppl wrestle with but is not talked about much.
2) It is totally fair game to go back and try to re-pitch.

BUT to give this your best shot, you'll need to take in the feedback you received from said investor and address it.
Read 11 tweets
15 Jul
Every conversation I have with early stage VCs seems to lead to how crazy the market is.

And whether the frothiness will continue or stop in the next year

More >>
1) To be clear, this is in reference to a lot of mind boggling series A rounds being done recently.

AND not every company is raising these crazy rounds. But enough to make ppl talk.
2) Specifically what I’m seeing a lot are companies with limited traction - what I would call “seed traction” get huge multiple mark ups on valuation.

Series A valuations at 100x (or more) of yearly revenue!
Read 10 tweets
14 Jul
Today's building in public thoughts - it takes a long time to build processes, set culture, hire, onboard, and build out a generational business.

And this is what we've thought about and have been working towards since day 1 of @HustleFundVC.

Read on >>
1) A lot of entrepreneurs ask me / cold-email me, "Have I seen their deck yet? Or can they chat with me?"

In most cases, the surprising answer is no.

Although we're only on Fund 2 of Hustle Fund, I'm actively working on the transition of this.
2) Don't worry future LPs, as a GP, I'm still involved in the final decisions!

But, it's important to work towards scaling the operations of this business so that if I get hit by a bus, I'm not needed.
Read 12 tweets
13 Jul
There are many confusing things about the definition of product-market fit. How speed factors into it is one of these confusing points.

Today's thread is a deep dive into that.

Read on >>
1) First, what is product-market fit?

I've tweeted about it here a while back:
2) @hnshah has a great compilation of other people's definitions which all get at the same thing:

Read 18 tweets
2 Jul
A # of friends who have had success w angel investing have asked me whether they should start a microfund.

There are reasons to do it & also not to but today’s thread is strictly about the economics.

Tl;dr most fund mgrs - even the best - won’t make much $$.

Read on >>
1) When most ppl say VCs are rich, they are really talking about big vcs.

In fact, many microfunds have a worse cash position than many of the startups they back!
2) Most fund mgrs get paid on a 2 and 20 model.

The 2 represents 2% - this is the budget of the fund.

So a $10m fund * 2% yields $200k in budget every yr for 10 yrs.

This budget covers salaries but also marketing, travel, etc
Read 17 tweets
29 Jun
We have over 270+ portfolio companies @HustleFundVC now of which, I'm the point of contact for.

People often ask me how do I have time to take so many meetings??

Here's my secret and an unpopular tactic...I relentlessly cut mtgs.

Here's how / why / and gains I've seen >>
1) First, the pros and cons of mtgs:

-feel connected w/ someone

-inefficient time use to receive ideas
-inefficient way to do actions
-introduces weird biases
2) So given this, if you need to build rapport w/ someone, then you should definitely take the mtg. In fact you should take lots of mtgs!

This could be for:
-building morale w/ a teammate / founder / etc
-building a relationship w/ someone you're trying to recruit for something
Read 18 tweets

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