Special: Ho Nam from Altos Ventures — A Different Approach to VC

特别报道:Altos Ventures 的 Ho Nam — 一种不同的风险投资方法

Acquired

商务

2021-06-21

1 小时 49 分钟
PDF

单集简介 ...

What do you get when you combine Berkshire Hathaway's approach with early-stage venture capital? Altos Ventures. We're joined by Altos's wonderful Ho Nam to discuss their highly unusual approach to VC, which has resulted in them becoming significant shareholders in great companies like Roblox, Coupang, Woowa Brothers and Krafton (makers of PUBG). This episode is an absolute must-listen for anyone in our industry — Ho is one of the best and most under-the-radar thinkers in Silicon Valley, and has many lessons to offer us all! Sponsors:ServiceNow: https://bit.ly/acqsnaiagentsHuntress: https://bit.ly/acqhuntressVanta: https://bit.ly/acquiredvanta More Acquired!: Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!Topics covered: Altos's 13-year+ journey with Roblox, and how they deployed over $400m into the company out of an $86m fundAltos's heritage in Jack McDonald's Investments class at Stanford GSB, and the influence of Jack, Phil Fisher and Warren & CharlieHow Altos successfully "value invests" in venture capital, and reconciling cashflow potential with growth"Good fundraisers" vs. "bad fundraisers" and correlation with returnsAltos's unique fund structure and how they're architected to stay with companies longer than a typical venture capital firmHo's Twitter presence and how (and why) he went from de minimus followers to one of the top FinTwit accounts in a few monthsLinks: Ho's amazing Twitter presence: https://twitter.com/honamHo's "Foxes and Hedgehogs" post: https://altos.vc/blog/foxes-and-hedgehogsHo's "How do you know?" post: https://altos.vc/blog/howdoyouknowHo's "Venture Lotto" post: https://www.altos.vc/blog/venture-lottoSam Walton's Made in America: https://www.amazon.com/Sam-Walton-Made-America/dp/0553562835
更多

单集文稿 ...

  • I feel like I know you guys because I listened to you guys on your podcast and it's really fascinating because I think the three part series on Berkshire is kind of like is your signature piece because I think you guys said it's like, oh geez, you know, you never thought you could go beyond two hours and I know you guys have to cut a whole bunch of stuff out just to fit it into six hours right now, but there's nobody who goes into the depth like you guys and so it's great to talk to you guys here.

  • Welcome to this special episode of Acquired, the podcast about great technology companies and the stories and playbooks behind them.

  • I'm Ben Gilbert and I am the co founder and Managing director of Seattle based Pioneer Square Labs and our venture fund PSL Ventures.

  • And I'm David Rosenthal and I am an angel investor based in San Francisco.

  • And we are your hosts.

  • On today's show.

  • We have a guest that both David and I have looked up to for years, Ho Nam from Altos Ventures.

  • Without giving too much away in this early intro, I will say that this episode could be summed up as what if you tried to be a value investor with Berkshire Hathaway's principles?

  • But for early stage technology companies, this episode is the perfect cousin to everything that we talked about on the Berkshire trilogy.

  • Now, before we dive in, I want to say first, if you are new here, join us in the acquired Slack.

  • We'll be talking about this episode and everything going on in the tech and investing news of the day.

  • That's Acquired FM Slack.

  • Okay listeners, now is a great time to tell you about longtime friend of the show, ServiceNow.

  • Yes, as you know, ServiceNow is the AI platform for business transformation and they have some new news to share.

  • ServiceNow is introducing AI agents.

  • So only the ServiceNow platform puts AI agents to work across every corner of your business.

  • Yep.

  • And as you know from listening to us all year, ServiceNow is pretty remarkable about embracing the latest AI developments and building them into products for their customers.

  • AI agents are the next phase of this.

  • So what are AI agents?