Jerry Neumann

10 statements across 1 episodes · 3 bullish · 2 bearish · 1 people on the record · first statement Apr 30, 2018 by Jerry Neumann · across every show →

On the record as a speaker too: Jerry Neumann's record, appearances and statements → this page counts the times other people say the name.

Everything said about Jerry Neumann, oldest first

Apr 30, 2018 bullish
Assertion Not checkable as stated
Neumann: Top seed funds like USV outperform when market prices are low
“If you look at the best performing venture funds in history, at least seed stage, like things like USV, you will find that they started investing in a market where the market price was below the indicated discounted price. When the market is above where the in…”
Jerry Neumann Apr 30, 2018 ▶ 17:13 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018
Assertion Supported
Neumann: $500K pre-seed startups almost certainly need $1M+ before Series A
“So if you raise a pre-seed round of 500 K, you're almost certainly going to need At least another million to get to the series A.”
Jerry Neumann Apr 30, 2018 ▶ 21:49 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018
Disclosure
Neumann tracks hundreds of enterprise software exits to set seed pricing
“As to determining price, the way that I keep close track of exits in the markets that I'm in, so I have a spreadsheet of hundreds of exits in enterprise software, and I kind of have a feel, having done all that research, for what the sweet spot for an exit is,…”
Jerry Neumann Apr 30, 2018 ▶ 16:34 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018
Disclosure
Neumann always re-invests if a portfolio company secures an outside lead
“So if they have a lead for the second round, I will, I think I have always invested. I don't tell them I always will, but I have always, but that means they have to convince somebody else that the company is worth investing in.”
Jerry Neumann Apr 30, 2018 ▶ 22:29 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018 positive
Disclosure
Neumann: Always secures pro-rata because follow-ons are superior investments
“I always insist on getting pro rata in a company because I think that the second investment is a much better investment than the first investment.”
Jerry Neumann Apr 30, 2018 ▶ 20:24 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018 positive
Opinion
Neumann: Josh Koppelman challenges founders effectively without creating defensiveness
“Because he had been an entrepreneur. He could challenge Founders on their premises from a base of experience, and also because when he did so, he didn't do it in a way that the founder would have a hard time, except he'd never made the founders defensive. He c…”
Jerry Neumann Apr 30, 2018 ▶ 12:06 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018
Disclosure
Neumann writes internal investment memos for every deal as a solo investor
“I write myself an investment memo. I kind of feel stupid doing it because nobody else reads it, but I force myself to do it.”
Jerry Neumann Apr 30, 2018 ▶ 18:30 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018 negative
Opinion
Neumann rejects Jason Lemkin's view that VC is just packaging startups
“I don't look at it that way. If you say it that way, it makes it sound like you're trying to gild the lily, right? You're trying to sell them something that's not actually true. I do think that you need to know what the company needs to look like to raise more…”
Jerry Neumann Apr 30, 2018 ▶ 19:34 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018 negative
Insight
Neumann: Seed entry pricing matters despite Silicon Valley binary outcome beliefs
“I don't believe in the binary outcome that Silicon Valley has been sort of talking about for the past 10 years. You know, it doesn't matter what the entry price is because the outcome is either going to be huge or nothing. I think that even if that were true, …”
Jerry Neumann Apr 30, 2018 ▶ 15:46 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
Apr 30, 2018
Disclosure
Neumann allocates twice as much capital to follow-ons as initial checks
“So I have twice as much money in second rounds as first rounds.”
Jerry Neumann Apr 30, 2018 ▶ 20:57 20VC: Why Follow-On Investments Are Always A Better Investment, Why Spray and Pray Investing Is Like The Stock Market & Why Startups Need A Board From Day One with Jerry Neumann
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