Benchmark, every mention
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every year anyone Harry Stebbings 419Shervin Pishevar 23Jason Lemkin 20Rory O'Driscoll 19Michael Eisenberg 17Mitchell Green 15Everett Randle 11Eric Vishria 10Miles Grimshaw 9Mike Maples 8
Verbatim, from the transcripts: the passages where Benchmark comes up
KKR's Head of European PE, Philipp Freise: Do Andreessen & General Catalyst Scare KKR? · 20VC with Harry Stebbings
- ▶ 22:33 Philipp Freise You look with great admiration at the Excel's benchmarks and indexes and Kleiner Perkins of the world, um, but that's not our business.
Chime IPO: Are IPOs Hotter Than Ever? · 20VC with Harry Stebbings
- ▶ 23:08 Harry Stebbings In terms of CEOs moving around, as we have with Alex at scale there, Delian tweeted about Jason at Discord being removed, um, potentially by benchmark due to delayed IPO of Discord.
OpenAI, SBF & Perplexity: What VCs Know That You Don’t · 20VC with Harry Stebbings
- ▶ 28:11 Rory O'Driscoll They're in some good deals, you know, um, like are they as good series A as pick a name benchmark or kind of no, but they've established a meaningful scale franchise and thoughtful, and, you know, compared to a lot of ill thinking people,…
Benchmark vs a16z: Why Stage Specific Firms Win · 20VC with Harry Stebbings
- ▶ 0:00 Rory O'Driscoll Benchmark did something like 63 series A's and had a 10% hit rate across 15 years. 2 times in the scene
- ▶ 23:30 Harry Stebbings I saw Benchmark had a 33% hit rate on five billion dollar companies from 2013 to 2018. 4 times in the scene
- ▶ 26:50 Rory O'Driscoll Benchmark got six, and everyone else bunches in the two, three, four, five percent rate, right?
20Sales: Sierra: Inside Silicon Valley's Fastest Growing Sales Machine & How to Prospect, Outbound and Close Enterprise Deals in AI
- ▶ 0:10 Harry Stebbings Today we have one of the best, Head of Global Sales for one of the fastest growing AI companies in the world, Sierra, founded by Brett Taylor and funded by Benchmark and Greenos.
What Does it Take to Be Good at Series A and B Today? · 20VC with Harry Stebbings
- ▶ 1:05:25 Harry Stebbings Uh, Manus raised seventy five million for its last valuation led by Benchmark. 4 times in the scene
- ▶ 1:17:00 unnamed speaker Listen, I, I'm so glad I haven't had to do that to make a buck, and good luck to the benchmark boys.
a16z's $20BN Fund & Founders Fund's $4.6BN & Why Josh Kushner Has Mastered the Game · 20VC with Harry Stebbings
- ▶ 2:12 Harry Stebbings We just released a show, um, the other day, uh, with Victor Lozate from Benchmark, a GP at Benchmark, and he said the generation of SaaS investing before is dead.
- ▶ 11:50 Harry Stebbings I mean, I had Victor from Benchmark on the show, and he said that portfolio construction doesn't matter. 4 times in the scene
- ▶ 49:10 unnamed speaker I want to make sure I have enough deals in every fund that the fund has a good probability of success.
Benchmark GP, Victor Lazarte: The 3 Traits All the Best Founders Have · 20VC with Harry Stebbings
- ▶ 26:19 Harry Stebbings Everyone thinks you join Benchmark or you join Sequoia and just deals come to you. 2 times in the scene
- ▶ 52:10 unnamed speaker I'm just interested, like, Benchmark are famed for, like, the leading 3 times in the scene
- ▶ 56:18 Harry Stebbings Did you feel the weight of the benchmark GP role? 4 times in the scene
- ▶ 1:02:47 Harry Stebbings He said, the one question I'd really want to know from Victor is, if you look back in 10 years, in what ways do you want to have meaningfully changed benchmark to prevent its extinction? 8 times in the scene
- ▶ 1:04:36 Harry Stebbings It was a craft of benchmark. 3 times in the scene
20Product: How Scale AI and Harvey Build Product | Why PMs Are Wrong: They are not the CEOs of the Product | How to do Pre and Post Mortems Effectively and How to Nail PRDs | The Future of Product Management in a World of AI with Aatish Nayak
- ▶ 1:05:16 Harry Stebbings As always, we so appreciate all your support, and stay tuned for an incredible episode coming on Monday with Victor Lozate at Benchmark.
20Sales: How the Best Sales Teams Use AI to Win Enterprise Deals | Sales Teams Will Be Dramatically Smaller | How to Ramps Sales Reps Way Faster | Why Unpaid Design Partners are BS | Why this Generation of Sales is Soft with Ishan Mukherjee @ Rox
- ▶ 14:40 Ishan Mukherjee When Zen, myself, Eric at Benchmark, we were starting Pixie, we thought,
Mitchell Green, Founder @ Lead Edge Capital: Why Traditional VC is Broken · 20VC with Harry Stebbings
- ▶ 9:30 Mitchell Green There's going to be some type of company that AI is enabling that nobody else could do something before, and that changes it, and it's going to be guys like you or Benchmark or Sequoia that find that thing, um, at the very early stage, and…
- ▶ 12:57 Mitchell Green Had that deal, been backed by Benchmark, like Vishra or Fett, Peter Fett, and one of those guys, backed a Benchmark, doing a minority deal based in Silicon Valley, it would have been five hundred million dollars. 2 times in the scene
- ▶ 38:58 Mitchell Green Um, which, you know, was a, when we invested, Benchmark, like, did the early rounds.
- ▶ 53:25 Mitchell Green By the way, benchmark. 3 times in the scene
- ▶ 1:12:49 Mitchell Green Um, those two groups between seed and A, it would be like benchmark or Bessemer.
- ▶ 1:21:24 Mitchell Green Like, we joke that's like, it's very funny that partners at Andreessen Horowitz, who we're friends with, or partners at Benchmark, or partners at, you know, First Round, have made the hierarchy of BS letter kind of famous.
Adarsh Hiremath @ Mercor: The Fastest Growing Startup in Silicon Valley | E1261 · 20VC with Harry Stebbings
- ▶ 36:05 Adarsh Hiremath You know, going back to the example, uh, about benchmark, um, 5 times in the scene
- ▶ 37:59 Adarsh Hiremath Um, but just like we, we felt with benchmark, we, we wanted to be, you know, in business with,
- ▶ 38:18 Adarsh Hiremath It's, it's, you know, Brendan, Suri, and I, and, and Benchmark, uh, on the board.
- ▶ 39:25 Adarsh Hiremath So the new fundraiser was led by Felices with some, you know, other amazing investors, including GC, Benchmark, and others participating as well.
Nabeel Hyatt, GP @ Spark Capital: To Win in AI, Investors Need to Change Their Approach | E1255 · 20VC with Harry Stebbings
- ▶ 11:38 Nabeel Hyatt Spark was started in the early web two point O era, like right at that age, uh, in the same cohort as USV and benchmark two point O that the beginning of the girly era and a handful of other firms that I think all treated mobile really…
Shervin Pishevar: What Really Happened in the Firing of Travis Kalanick | E1245 · 20VC with Harry Stebbings
- ▶ 0:20 Shervin Pishevar Unfortunately, in my opinion, it was Bill Gurley at Benchmark. 2 times in the scene
- ▶ 8:31 Shervin Pishevar So Matt called me in August of 2011, six months after Benchmark did their Series A with Uber.
- ▶ 34:38 Shervin Pishevar So, um, what went wrong was we had the wrong venture capitalists on the board, and that was, unfortunately, in my opinion, that was Bill, Bill Gurley at Benchmark. 3 times in the scene
- ▶ 42:44 Shervin Pishevar And I, and I countersued Benchmark, and, um, you know, flew to Delaware, uh, and landed, went to this little courthouse, and it made me fall in love with the American justice system, because this, the entire corporate legal system is held… 2 times in the scene
- ▶ 47:17 Shervin Pishevar I was meeting with, um, Rajiv Misra about, like, buying benchmark stakes. 3 times in the scene
- ▶ 50:03 Shervin Pishevar So, in their greed to go after their, you know, current winnings of billions of dollars, single digit billions, um, Benchmark, uh, and the other investors made a critical mistake. 2 times in the scene
- ▶ 51:31 Shervin Pishevar And the reason is, you know, Benchmark invested in, in February, in February, 4 times in the scene
- ▶ 53:40 Shervin Pishevar Other investors, I was honestly, you know, disappointed and shocked that so many were easily manipulated by, by Gurley, uh, and benchmark, and that they went along with this scheme, uh, in the sense that, you know, the letter, um, I don't…
- ▶ 57:39 Shervin Pishevar There's a history of VCs who have done this type of thing, uh, and, and in Benchmark's case, they did it against Naval. 3 times in the scene
- ▶ 59:55 Shervin Pishevar And I passed on that company, that was ironically another benchmark company.
- ▶ 1:19:57 Shervin Pishevar Benchmark.
Mike Maples: Three Frameworks to Evaluate Startups and Founders | E1242 · 20VC with Harry Stebbings
- ▶ 8:55 Mike Maples You're talking about firms like Benchmark and Sequoia and General Catalyst and A-sixteen Z. 3 times in the scene
Torsten Reil, Helsing Founder: Raising $828M to Build the Defence Champion of Europe | E1237 · 20VC with Harry Stebbings
- ▶ 1:01:23 Torsten Reil Natural Motion Benchmark is our, uh, one of our investors, and with Mitch Lasky as our partner, and part of the reason why we eventually took off was also Mitch, and, and, and the way he thought about how big this company could be,
Zachary Bookman: Why Valuations and Fundraising are BS | E1235 · 20VC with Harry Stebbings
- ▶ 12:46 Zachary Bookman I did get an anecdote from a friend who was, he had term sheets from Sequoia and Benchmark, and he was talking to somebody about which one to take.
Klaus Hommels: Why "Portfolios are Merely a Construct to Make LPs Happy"? | E1231 · 20VC with Harry Stebbings
- ▶ 56:33 Klaus Hommels In the valley, and I ended up with Matt Kohler, like a little coincidence, because I was at Benchmark as a VC, and he was with Benchmark, and so that was the established, the connection, 2 times in the scene
- ▶ 1:09:26 Klaus Hommels So I think, um, Mark Evans, who I admire a lot, he was spectacular good at, at benchmark, but afterwards now even better as an angel.
Jason Citron, Co-Founder/CEO @Discord: The Untold Story Behind Scaling to 200M Users | E1230 · 20VC with Harry Stebbings
- ▶ 41:52 Jason Citron Um, so we got a lot of no's in that round and Mitch Lasky from Benchmark said yes. 3 times in the scene
Cem Sertoglu: Lessons from the Greatest Venture Investment in European History | E1228 · 20VC with Harry Stebbings
- ▶ 7:01 Cem Sertoglu I think if you look at those firms as kind of a one strategy, one investment portfolio, uh, I think you could come to that conclusion, but what I see it is at the core of their portfolios, if they are early stage investors, so I don't mean… 2 times in the scene
- ▶ 1:00:54 Cem Sertoglu I also have a lot of respect for, uh, USV and, uh, and Benchmark in how they've kept their discipline around, you know, what they think they do better than anyone else, and I think the, the results show.
Mark Goldberg: Why Politics is Rife & Decision-Making is Broken in Large VCs | E1219 · 20VC with Harry Stebbings
- ▶ 12:17 Mark Goldberg Inspired by funds like Benchmark, like USV, we think that there is this kind of personal relationship at the early stage that we're going to try to reconstitute the fund around.
- ▶ 53:26 Harry Stebbings A, it would, it would have to be benchmark.
Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
- ▶ 20:51 Harry Stebbings When we look at the venture landscape, you have like, in my mind, boutiques, USV benchmark boutique,
- ▶ 1:00:45 Mamoon Hamid One of my favorite investors is Matt Kohler from Benchmark, who I got to see him yesterday. 2 times in the scene
Eric Vishria: Where is the Value in AI - Chips, Models or Apps? | E1206 · 20VC with Harry Stebbings
- ▶ 9:59 Eric Vishria I am not a sector specialist and nobody at Benchmark is. 2 times in the scene
- ▶ 17:41 Eric Vishria And I think that was a huge part of, you know, Gurley and the rest of the benchmark teams at that time, which predates me, um,
- ▶ 31:49 Eric Vishria Um, in terms of value accrual, like, you know, I think for Benchmark, like, we have a, we, we have no foundational model investments, uh, thus far anyway.
- ▶ 34:14 Harry Stebbings Does AI today, do AI rounds break the benchmark model? 4 times in the scene
- ▶ 41:50 Eric Vishria My partners have over my 10 years at Benchmark.
- ▶ 47:17 Eric Vishria Um, and I've, I've been lucky to see that at benchmark a whole bunch of times.
- ▶ 51:56 Eric Vishria Like, that is the benchmark model, and since the benchmark model is a, a concentrated portfolio of, like, very high conviction commitments. 2 times in the scene
- ▶ 54:31 Eric Vishria This is, it's a very benchmark is a very high trust, like high confidence in each other model and structure, right?
- ▶ 58:29 Eric Vishria Well, there's a, there's a, he, he told me a version of that on one of the first investments I looked at at benchmark in summer of, you know, the discussion was like, well, could you do it at 40 or 60 or whatever, say some, some price.
- ▶ 1:00:48 Harry Stebbings Which venture investor outside of benchmark do you most respect? 2 times in the scene
- ▶ 1:07:40 Harry Stebbings Final one for you, when I ask you for a memorable moment from your time at Benchmark, what's the one that you tell grandchildren? 2 times in the scene
Shardul Shah: How Index Makes Decisions & Why Benchmarks & Averages in VC are BS | E1202 · 20VC with Harry Stebbings
- ▶ 44:33 Harry Stebbings I think it's, like, dominated by, like, Chanel and Walmart, and so Chanel is, you know, benchmark and US fee, constrained fund sizes, very specific ICP, and then you have Walmart, which is walls of cash.
Nicholas Chirls: Why Big VCs Ruin Startups, VC is a Ponzi Scheme Today & Most VCs are Bankers |E1198 · 20VC with Harry Stebbings
- ▶ 7:15 Harry Stebbings Benchmark don't need to do that.
- ▶ 11:01 Harry Stebbings Like Benchmark, like USV, Ribbit are large, but I would still say they're artisans of their craft and fintech.
Delian Asparouhov: Inside the Walls of Founders Fund: What the World Does Not See | E1183 · 20VC with Harry Stebbings
- ▶ 27:20 Delian Asparouhov Um, I think, you know, I think it was Sarah Tovel, um, who, you know, benchmark may not, you know, sort of love me for various comments that I make, but I do like Sarah's, you know, sort of framework and I use it all the time, which is…
- ▶ 32:30 Delian Asparouhov Um, you know, it's probably Sequoia, Andreessen, and probably more historical benchmark than modern benchmark, but I still think there's lessons to be had, you know, sort of there. 3 times in the scene
- ▶ 43:27 Delian Asparouhov There are firms, tier ones that I mentioned, Benchmark, A-sixteen Z, Sequoia, et cetera, all have examples of sort of founder oustings in the past sort of decade. 3 times in the scene
Saam Motamedi: Why Series B Won’t Make Money & Why $1M ARR is a BS Milestone for Series A | E1177 · 20VC with Harry Stebbings
- ▶ 36:56 Saam Motamedi I love Eric at Benchmark.
David Luan: Why Nvidia Will Enter the Model Space & Models Will Enter the Chip Space | E1169 · 20VC with Harry Stebbings
- ▶ 40:29 Harry Stebbings and I think it was Miles Grimshaw at Benchmark or now Thrive said actually co-pilots is an incumbent strategy.
Michael Eisenberg: How China Could Overtake the US in the AI Race | E1167 · 20VC with Harry Stebbings
- ▶ 4:40 Michael Eisenberg Seeking Alpha, which is a company, by the way, I did 19 years ago on Benchmark, and I'm still on the board of.
- ▶ 15:19 Michael Eisenberg You know, when I first joined Benchmark in 2005, I had some time on my hands and have a portfolio.
- ▶ 42:38 Michael Eisenberg I kind of drank the benchmark Kool-Aid. 2 times in the scene
- ▶ 46:39 Michael Eisenberg Bruce Dunleavy from Ventura used to say that venture capital has the highest barrier to exit of any business out there.
Danny Rimer: The Biggest Lessons from Missing Snap, Airbnb, Spotify and Facebook | E1166 · 20VC with Harry Stebbings
- ▶ 31:34 Harry Stebbings Asset gatherers, not disparaging me, but just raising huge funds and boutiques, which is your specialist providers, like a benchmark, a USV, even a Ribbit, which although large, but like is very fintech focused and absolutely owns their…
- ▶ 1:19:14 Danny Rimer Benchmark, 4 times in the scene
Reid Hoffman: The Future of TikTok and The Inflection AI Deal | E1163 · 20VC with Harry Stebbings
- ▶ 32:28 Harry Stebbings I don't want it when there's 20, uh, procurement companies all funded by Sequoia, and Benchmark, and Grail, and everyone in between.
Dan Siroker: Second-Time Founders Are More Investable & Why Not To Hire People Out of College |E1153 · 20VC with Harry Stebbings
- ▶ 29:43 Dan Siroker Uh, and so this is one of those where like, yeah, the best investors benchmark and recent, they will invest less than their supposed minimums for the right company.
- ▶ 31:18 Dan Siroker You know, my very first Series A, I got, you know, I got benchmarked to agree to, you know, I think it was maybe eight percent or something. 3 times in the scene
- ▶ 51:30 Harry Stebbings Can I ask, you've had some of the best brands benchmark your Andreessen's of the world.
- ▶ 1:06:22 Dan Siroker And they took the term sheet from Benchmark instead.
Sarah Tavel: Will Foundation Models Be Commoditised? | E1149 · 20VC with Harry Stebbings
- ▶ 0:48 Harry Stebbings No, but I want to start, for those that do not know, how did you come to be at Benchmark? 6 times in the scene
- ▶ 5:09 Harry Stebbings You've now been doing Venture for a long time between the first and obviously with Bessemer, then the second with Greylock and now Benchmark.
- ▶ 20:24 Sarah Tavel And that's, that's, those are the types of opportunities that, that we, we get really excited about the benchmark.
- ▶ 25:01 Harry Stebbings Because, you know, if we look at benchmark tradition or series A traditionally, which is obviously where benchmark is at home, 4 times in the scene
- ▶ 40:31 Harry Stebbings How does Benchmark win so effectively? 5 times in the scene
- ▶ 58:47 Sarah Tavel And, and so my first investment at benchmark was this company chain analysis where we, you know, I was the first board member for the company. 2 times in the scene
Adam Gross: Why Startups Doing Paid Under $100M ARR are not PLG | E1145 · 20VC with Harry Stebbings
- ▶ 37:45 Harry Stebbings Sarah Tavill from Benchmark said that we will sell the services and not the tools.
Kevin Ryan: Are the Best CEOs the Best Fundraisers & Why Ownership Should Not Be a Focus in VC|E1138 · 20VC with Harry Stebbings
- ▶ 50:52 Kevin Ryan Returns that let's say a benchmark and a Greylock have, and I'll, 90% of the rest of the, uh, industry.
Chris Dixon: Who Will Win the Next Generation of Venture? | E1132 · 20VC with Harry Stebbings
- ▶ 49:32 Chris Dixon It was like Sequoia and Kleiner and, uh, Benchmark and Excel.
David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
- ▶ 1:17:26 David Clark This is, is I have a huge amount of respect for the, for the folks at Benchmark and what they've done, and it's a really painful one. 4 times in the scene
Peter Wagner: 27 Years of Investing Lessons of Picking Founders, Price Discipline & Reserve | E1123 · 20VC with Harry Stebbings
- ▶ 38:07 Peter Wagner Um, you know, the day he, the day he told me he was, uh, leaving us and, and going to Benchmark was, uh, one of the most discouraging days of my career.
Christian Hecker & Johan Brenner: The Biggest Fundraising Lessons Having Raised $1.3BN | E1116 · 20VC with Harry Stebbings
- ▶ 1:42 Johan Brenner Many moons later, uh, it's, it's traded public, but I've, I've started my career as an operator, became an entrepreneur, and then joined actually benchmark
- ▶ 47:59 Johan Brenner And I, then I joined benchmark
20VC: Doug Leone, Bill Ackman, Bill Gurley and Orlando Bravo on "Does Price Matter"; When to Pay Up vs When to Stay Disciplined, The Biggest Lessons on Price Discipline from 8 of the World's Best Investors
- ▶ 7:48 Harry Stebbings Wouldn't it be great to hear Bill Gurley from Benchmark talk about how he thinks about price and reflects on his own price sensitivity today?
- ▶ 9:37 Harry Stebbings It was interesting, Keith Raboy actually said on a different podcast that the only firm to have retained price discipline, the only firm, was Benchmark. 2 times in the scene
David Tisch & Terrence Rohan: Biggest Misconceptions & Hardest Truths About Seed Investing | E1112 · 20VC with Harry Stebbings
- ▶ 1:15:32 Harry Stebbings I would say benchmark for the A, and I would say either Thrive or Sequoia for growth.
- ▶ 1:19:17 David Tisch Because again, I don't think Index wakes up and calls, uh, Benchmark. 4 times in the scene