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Newfront

also referred to as: newfront insurance

12 statements across 1 episodes · 1 bullish · 0 bearish · 2 people on the record · first statement Oct 16, 2020 by Harry Stebbings · said 5 times in 2 episodes since 2020 · across every show →

Mentions by year

brought up most by Harry Stebbings (5)

every mention, scene by scene, with the transcript →

Everything said about Newfront, oldest first

Oct 16, 2020
Assertion Supported
Stebbings: Spike Lipkin raised over $100M for Newfront
“To date, Spike has raised over a hundred million dollars with Newfront for Some of the best in the business, including Founders Fund, Meritech, and of course, the newly founded TwentyVC Fund.”
Harry Stebbings Oct 16, 2020 ▶ 0:24 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Insight
Exposing operational flaws to candidates attracts top executive operators
“What we've found is that if we go talk to an incredible operator and expose all the things that are broken in our business, but also show the things that are working. What gets them excited is the fact that they probably can solve the things that are broken an…”
Spike Lipkin Oct 16, 2020 ▶ 9:01 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Disclosure
Newfront scaled customer service without ticketing systems or SLAs
“And so we were running a scaled customer service org without a ticketing system, for instance, we didn't have SLAs in place.”
Spike Lipkin Oct 16, 2020 ▶ 11:29 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Insight
Lipkin: Founders should solve zero-to-one problems before delegating them
“And so we try not to delegate zero to one problems. We try to solve those ourselves and then very quickly find capable people to delegate those things to.”
Spike Lipkin Oct 16, 2020 ▶ 5:48 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Assertion Not checkable as stated
Spike Lipkin: Newfront's last three funding rounds were preemptive insider-led rounds
“We've been lucky that our last three funding rounds have been preemptive, and mostly it's been insiders wanting to lead subsequent rounds”
Spike Lipkin Oct 16, 2020 ▶ 15:42 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Insight
Lipkin: Startups shouldn't reinvent the wheel on building operations organizations
“We think a lot about the risks we're taking as a business, and we want to innovate on client experience and broker experience. We didn't want to innovate on creating a best-in-class ops org. We felt like this was not an area where we needed to reinvent the whe…”
Spike Lipkin Oct 16, 2020 ▶ 10:18 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Disclosure
Newfront mapped executive energy levels to divide leadership responsibilities
“We did this exercise early on where a lot of the execs on my team wrote down a list of things that gave them energy, and that they loved doing, and felt like they were very good at, and things that took energy from them, and they Didn't enjoy doing and didn't …”
Spike Lipkin Oct 16, 2020 ▶ 7:00 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Assertion Supported
Stebbings: Spike Lipkin helped scale Opendoor to a $5B+ enterprise value
“Prior to founding Newfront, Spike was one of the first employees at Opendoor, where he helped grow the team from five people to an enterprise value of over five billion dollars today.”
Harry Stebbings Oct 16, 2020 ▶ 0:34 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Assertion Not checkable as stated
Newfront accepted Kevin Hartz's investment offer despite it being 30% lower
“When Kevin invested, we had some other offers that were materially higher than his. I think his was 30% lower than the next offer.”
Spike Lipkin Oct 16, 2020 ▶ 19:12 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Assertion Not checkable as stated
Spike Lipkin: Newfront met weekly with Kevin Hartz for years during scaling
“We were lucky enough to work with Kevin Hartz and met with him once a week for a number of years to think through some of the common challenges of scaling.”
Spike Lipkin Oct 16, 2020 ▶ 16:36 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020
Assertion Not checkable as stated
Newfront CEO Spike Lipkin met with only one external investor in 2019
“Last year in 2019, I think I met with one investor who's not on our cap table right now.”
Spike Lipkin Oct 16, 2020 ▶ 16:04 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
Oct 16, 2020 positive
Disclosure
Spike Lipkin: Michael Ovitz Is an Angel Investor and Cultural Advisor at Newfront
“The other one is Michael Ovitz. He built CAA, which Is the largest talent agency in Hollywood. We've learned a huge amount from him about how to build our culture and team at Newfront.”
Spike Lipkin Oct 16, 2020 ▶ 20:29 20VC: How To Determine The Risks To Take vs To Pass On, Should Founders Meet Investors When Not Raising & The Most Important Non-Obvious Role of the CEO with Spike Lipkin, Founder & CEO @ Newfront Insurance
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