20VC: Why Valley Investors Are Really Gamblers, Why The Business Model of Selling To The Biggest Sucker Is Wrong & Why The Best Potential Hires Don’t Care Who Your VC is with David Barrett, Founder & CEO @ Expensify

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David Barrett is the Founder & CEO @ Expensify, the startup relieving the world’s frustrations, one expense report at a time. With 35,000 companies and more than 5 million users, David has raised close to $30m from the likes of Redpoint, OpenView, Travis Kalanick, Baseline and SV Angel. However, David certainly does not have traditional views on funding, something we very much touch on in the interview today! Prior to Expensify, David built a peer-to-peer file transfer technology called Red Swoosh with Uber’s Travis Kalanick, which was acquired by Akamai in 2007.

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In Today’s Episode You Will Learn:

1.) How David went from founding Red Swoosh with Travis Kalanick to changing the sexy world of expense reporting with Expensify?

2.) Why does David want to change the cult of the second time entrepreneur? Why does David believe that Silicon Valley fundamentally changes exits in the wrong way? How does David define true operational success?

3.) Why does David believe that Silicon Valley investors are not investors but gamblers? Why does David believe that the business model VCs have created is not only not optimal for founders but poor business practice with “profit” being a dirty word?

4.) What does David believe are the fundamental benefits of capital constraints? How does having financial independence influence your stance when speaking with investors? When does the decision of financially lean or VC backed need to be taken?

5.) Why does David believe the more hiring you do, the more problems you have? What are the core issues of revenue being tied to headcount growth? Why does David believe Silicon Valley is poor for hiring and you must look further afield?

Items Mentioned In Today’s Show:

David’s Fave Book: Guns, Germs, and Steel, Enders Game

As always you can follow HarryThe Twenty Minute VC and David on Twitter here!

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