Dave McClure Profile picture
🌱 founder: @PracticalVC, 500 Startups 👨🏽‍🎓 alum: Johns Hopkins, PayPal, Founders Fund 😻 fan4life: Dr. Seuss, Muppets, Sesame St
Jan 27 • 15 tweets • 5 min read
1/ there's lot of VC "inside baseball" on what's going on with startup valuations.

in short: VCs are SHITTING their pants over existing portfolio while same time SALIVATING over potential "more reasonable" (LOWER) valuations for new deals.

anyway here's my take on next 12 mo's: 2/ first off, the public market has taken a big fucking messy dump on tech IPOs, cloud stocks, Saas and E-Com companies, which are down ~30-50% in just the past few months.

not pretty, but kind of expected since everything went thru the roof over the past few years.
Oct 12, 2020 • 16 tweets • 4 min read
1/ today $TWLO has a market cap of ~$49B and announced they're acquiring Segment for ~$3B.
while it's easy to #humblebrag "i was fortunate to be a seed-stage investor 12 yrs ago" (see i just did it) and make a splash on @VCbrags, i have another story to tell. 2/ about 8 yrs ago i invested in a small #SaaS startup from Australia that was just a few people and had raised <$500K, was doing maybe $10-25K in monthly ARR (sorry if i'm forgetting exact #s but it was pretty early)
Jun 26, 2020 • 13 tweets • 3 min read
i've invested for ~20 yrs, met 1000's of founders, seen 1000's of decks, done 100's of deals -- yet it's still humbling how often i'm wrong or uncertain about what's going to happen. like Yogi Berra sez: "It's tough to make predictions... especially about the future". #sigh🤷 i read about a lot of other VCs bragging about their big investing wins (and how they had #CONVICTION about investing early), but i'll be honest it's rare that i'm sure things are going to go great... and again, often that i'm wrong when i feel that way.
May 28, 2020 • 9 tweets • 2 min read
1/ random rant on negotiation: we tend to under-value people who are NICE and REASONABLE in negotiations, and forget about how easy and pleasant they are to deal with. 2/ similarly, we often praise people who negotiate HARD or TOUGH in a way that seems positive -- like "wow that person drove a hard bargain; they stuck with it and got what they wanted" -- when in reality, they were just a pain in the ass and you just gave up / gave in / caved.