20VC: How Every VC Firm Is A Marketplace, Why A Large Amount of Promise in AI Today Is Impossible & Entrepreneurs 3 Main Pain Points of Fundraising with Alex Mittal, Founder & CEO @ Funders Club
Alex Mittal is the Founder & CEO @ Funders Club, the company that uses software and networks to provide investors with access to the world’s most promising startups. Their portfolio includes the likes of Slack, Greenhouse, Shippo and Flexport just to name a few. They are backed by some of the world’s leading investors themselves with the likes of Andreessen Horowitz, Y Combinator, Felicis Ventures and First Round Capital. Prior to starting FundersClub, Alex was the founding CEO of Innova Dynamics, a VC-backed touchscreen hardware company, leading the company from university laboratory to securing design-in collaborations with today’s major consumer electronics companies. Previously, he was the founding CTO of Crederity, a VC-backed identity and credential verification enterprise software company.
In Today’s Episode You Will Learn:
1.) How Alex made his way from YC founder to revolutionizing seed stage investing with Funders Club?
2.) Why is Alex still so bullish on the on-demand space? How does Alex evaluate on-demand startups? What metrics are attractive in the space? What do good unit economics look like for on-demand startups?
3.) Does Alex agree that we are experiencing a AI bubble? Where are the shortcomings in the current state of AI and machine learning? How does Alex expect the space to play out and what does Alex advise entrepreneurs in the space?
4.) What does Alex make of the rise of investing in hard science startups? Why does he get concerned to see traditional software VCs investing in the space? How should VCs view the rise of nontech businesses both in hard science and consumer?
5.) You have said before that ‘the API is not in the past but is still to come’. Why are you so bullish on the continued expansion of APIs? Where do the inherent oportuities and use cases remain?
Items Mentioned In Today’s Show:
Alex’s Fave Book: The Art of War by Sun Tsu
But before we dive into the show today, there are some products that you simply cannot remember what life was like before them—for me that is x.ai. They bring you Amy and Andrew, the AI powered personal assistants who schedule meetings for you. The beauty of Amy or Andrew is that you interact with them just like you would any other person, in plain English. You hand over meeting scheduling, and they get the job is done. Which means that you can avoid the tedious hours of email ping pong usually required to schedule a single meeting. Even better though, there is no sign in, no password, nothing to download. All you do is cc firstname.lastname@example.org Beautiful! And you can check it out now on https://x.ai/20vc/ It really is a must!
Workable is the all-in-one recruiting software for ambitious companies. From posting a job to tracking and managing candidates, Workable provides everything you need to hire better. Transparent communication, organized candidate profiles, structured interviews and a full reporting suite gives hiring teams the information they need to make the best choice. Workable is available for desktop and mobile and you can find out more on workable.com where you can try it for free.