20VC: The On Running Memo: From Swiss Mountains to NASDAQ IPO: The Story of Three Friends Who Built a Sports Giant with David Alleman, Co-Founder @ On Running
31st May 2023
Joe Fernandez is the Founder & CEO @ JoyMode, the startup that allows you to lend everything you need to have the experiences you want. To date, Joe has raised over $16m in funding for Joymode from friends of the show including Homebrew, Slow Ventures, Founder Collective, Scott Belsky, Collaborative Fund and Lowercase, just to name a few. As for Joe, prior to founding JoyMode, Joe founded Klout, one of the leading social media analytics platforms of the day and raised $40m in funding from Kleiner Perkins, IVP, Venrock, Greycroft and more. Klout was ultimately acquired by Lithium Technologies where Joe sits on the board.
In Today’s Episode You Will Learn:
1.) How Joe made his way into the world of startups with the founding of Klout? Given his entrepreneurial start, would Joe say he is unemployable?
2.) Question from Craig Shapiro: What was your single greatest lesson from the Klout journey? How has that impacted how you operate JoyMode today? How has Joe approached fundraising fundamentally differently today than with Klout? How is Joe’s team building strategy today different to his with Klout?
3.) Why does Joe believe that “serial entrepreneurs are over-rated”? What does Joe mean when he says, “you have to know which hill you are willing to die on”? How does Joe look to accurately ego check today? What innovative methods does Joe employ internally to ensure that his views are validated and not submitted to?
4.) What does Joe mean when he says, “you have to make big bets to win”? How can you implement this risk-taking mentality in larger teams? What is the right way for both the team and investor base to respond? How does Joe use continuous iteration and data-centricity to test and validate these theses?
5.) How does Joe approach investor update emails? Why does Joe look to terrify investors with each update? Does Joe believe that it is right to thanks specific individuals in those emails? Does like like to select individuals and request their help in the emails? How can past updates be used to attain future investors?
Items Mentioned In Today’s Show:
Joe’s Fave Book: The Accidental Superpower
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