20VC: What Metrics LPs Really Use To Measure Manager Success, Why 10 Year Fund Structures Really Do Not Work & Why Venture Is So Similar To The Movie Business with Will Porteous, General Partner @ RRE Ventures
Will Porteous is the General Partner & COO @ RRE Ventures, one of New York’s leading venture funds with investments in the likes of Buzzfeed, The Huffington Post, Giphy and Paperless Post just to name a few. As for Will, he works primarily with media and hardware companies, where he is a Director of BuzzFeed, Paperless Post, Spaceflight, and Spire. Prior to VC, Will held senior management positions with SupplyWorks and NetMarket, the e-commerce pioneer now owned by Cendant Corp.
In Today’s Episode You Will Learn:
1.) How Will made his entry into VC and came to be the hardware and media specialist as General Partner and COO @ RRE Ventures?
2.) Why does WIll believe VC is like the movie industry? How can VCs be prepared to movie producers? How does the talent required to make a great movie resemble that of making a great startup?
3.) Why does Will think the current venture model of 10-year life cycles is broken? How would he like to see LP liquidy opened with iterations on the current venture model? How can the secondary market be revolutionized to provide such liquidity?
4.) Why does Will believe that location awareness will drive a wave of value creation an order of magnitude greater than anything we have seen before? What is the thesis behind this? What are the barriers, both from a technology and cultural perspective?
5.) What were Will’s biggest takeaways from being mentored by the legend, Bill Campbell, Former Chairman and CEO @ Intuit? What did he learn about leadership and incentivising a workforce from Bill? What example does Bill provide from seeing this at Google?
Items Mentioned In Today’s Show:
Will’s Fave Book: Radical Candor; Be A Kickass Boss Without Losing Your Humanity
Will’s Fave Blog: AVC by Fred Wilson
Will’s Most Recent Investment: The Outline
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