Jan 22, 2015 · 21m · 20vc
20 VC 006: Google Glass & Founding Teams
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions
In this episode of The 20 Minute VC, host Harry Stebbings interviews Ifty Ahmed, General Partner at Oak Investment Partners, discussing early-stage investment criteria, founding team dynamics, and actionable advice for entrepreneurs and aspiring venture capitalists.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Harry holds 23.9% of the talking time here. How this is scored →
Harry as informed peer 2.3 Guest teaching 2.0 Guest disagreement 1.5 Harry pushing back 1.0
speaking balance: gold is Harry, purple is the guest (3 minute bins)
Sharpest disagreement ▶ 16:16 Google Glass is Doomed
The guest bluntly dismisses Google Glass with a single word 'Doomed' and forcefully outlines ergonomic, optical, and potential health drawbacks.
Hardest push from Harry ▶ 10:56 Individual vs Firm PreparationThe host actively refines the guest's points on preparation by pressing whether founders should focus research on the firm or the specific individual partner.
Biggest teaching moment ▶ 19:04 Cryptocurrencies as the IP Protocol of FinanceThe guest reframes the host's simple query about Bitcoin to explain how cryptocurrencies represent a broader paradigm shift similar to how IP protocols revolutionized telecom.
Harry holds his own ▶ 7:42 Suggesting Uncomfortable Diligence QuestionsThe host displays insider awareness of VC negotiations by introducing specific tough questions founders should ask, such as board commitments and personal bandwidth.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | Harry as informed peer | Guest teaching | Guest disagreement | Harry pushing back | Why |
|---|---|---|---|---|---|---|
| Welcome and Guest Greeting | 2 | 1 | 1 | 1 | The host welcomes the guest and asks standard biographical and introductory strategy questions. The guest responds warmly, sharing his background bridging engineering and finance before introducing his perspective on looking for passionate founders. | |
| Assessing Founder Passion and Personal Motivation | 2 | 2 | 1 | 1 | The host asks open-ended questions about evaluating founder drive and team dynamics. The guest explains that venture capital evaluation is an art rather than a science and details why co-founding teams perform better than solo founders. | |
| Due Diligence and Uncomfortable Questions for VCs | 3 | 2 | 1 | 1 | The host demonstrates industry familiarity by suggesting specific awkward diligence questions like board seat limits and personal bandwidth. The guest agrees enthusiastically, emphasizing that founder-VC dynamics should function like a bi-directional marriage. | |
| Essential Reading for Entrepreneurs | 2 | 2 | 2 | 1 | The host prompts the guest for book recommendations and career entry advice for aspiring VCs. The guest interjects right before the quickfire round transition to add a final metaphor about learning to swim by jumping in the pool. | |
| Quickfire Round: Google Glass | 3 | 2 | 2 | 1 | The host points out that the guest is holding Google Glass and asks for quickfire opinions. The guest offers a strong, direct assessment declaring Google Glass doomed due to ergonomics and unknown health impacts. | |
| Quickfire Round: Bitcoin and Cryptocurrencies | 2 | 3 | 2 | 1 | The host prompts the guest on Bitcoin. The guest expands the focus from Bitcoin to broader cryptocurrencies and educates the host by comparing crypto protocol adoption to how IP networks disrupted expensive telecom fees. |
Statements from this episode (12)
Ifty Ahmed: Early-stage VC relies on evaluating passion, not financial analysis
“The truth of venture capital is that it's really all about the people. Unlike growth stage investing or private equity investing where there is a business, there are financial analysis to be done, there are stuff to be looked at. When it comes to startups and …”
Ifty Ahmed: Successful startup founders must be 'technology jihadists'
“The real guys who are going to innovate and disrupt the world are the ones who truly believe and maniacally believe in what they're trying to do. And in some ways, you know, in a funny way, I think about it as these are technology jihadists, if you know what I…”
Ifty Ahmed: Venture capital is an apprenticeship business, not a science
“Obviously it's not a science, it's an art, and that's why I think venture capital as a business, as an industry, is an, is a, is an apprenticeship business, so you've got to acquire those skills and that talent over time.”
Ahmed: Two Co-Founders Is Optimal; Three or Four Is Too Many
“The second reason, I think, is, I think two is always better than one. But I think at about three or four, it becomes a crowd.”
Ahmed: Founders should conduct as much due diligence on VCs as VCs do on them
“Entrepreneurs, before they take money from someone, should ask as many questions and do as, and should do as much diligence as the investors do on the entrepreneurs. It's a bi-directional relationship. It should never be unidirectional.”
Ifty Ahmed: Past Investment Failures Inevitably Bias VC Decision-Making
“We do get jaded, and we do get experienced and influenced by our failures. And if there's something in the past that I have done, I had invested in, did not work out, that's going to leave a bias on it. It doesn't, you know, no matter what I say, it does impac…”
Ahmed: Ian Ayres's Super Crunchers is Essential Reading for Entrepreneurs
“I think in today's world, that is, that book was written quite a few years ago, but it's probably one of the most relevant books I would encourage entrepreneurs to read. It's fascinating, quick read, fascinating stories, and great great message.”
Ahmed: Blueprint to a Billion Provides Ideal Roadmap for Scaling Businesses
“I think the book Blueprint to a Billion gives a very good roadmap in terms of how to be thinking about it, how to be dealing with that scaling up challenge that most entrepreneurs hopefully face as they grow their businesses.”
Ahmed: Biotech VC requires subject expertise, consumer internet does not
“If you want to get into biotech, I would say, hey, get some real, ah, subject matter expertise, because it is very important. Whereas in, in the consumer internet space, Because we are all consumers. It's less important.”
Ahmed: Startup experience is the ultimate preparation for venture capital
“And if you are not able to get into a venture business, a venture capital firm, the next best thing is to either join a startup, or do a startup. You may fail but that doesn't matter. That would be the ultimate best preparation to get into this business.”
Ahmed: Bitcoin and cryptocurrencies are the IP protocol for finance
“Cryptocurrencies and bitcoins is the future, as to when that transaction will be like an IP transaction. So I look at bitcoins and cryptocurrencies as the equivalent of IP IP protocol for the financial services transaction. So that's why I say it's very bright…”