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Jul 3, 2015 · 21m · 20vc

Founders Friday 002: Balderton's James Wise interviews 20VC Founder, Harry Stebbings

Harry Stebbings · 15m spoken James Wise · 4m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In a special reverse-interview episode of The 20 Minute VC, Balderton Capital's James Wise interviews host Harry Stebbings about his Balderton internship, key insights from top venture capitalists, and practical advice for breaking into VC.

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 75.7% of the talking time here. How this is scored →

Harry as informed peer 2.0 Guest teaching 2.5 Guest disagreement 0.5 Harry pushing back 1.3
05100:0010:0020:001:07–3:15 · Harry as informed peer 1/10 Securing the Balderton Capital Internship James Wise initiates a lighthearted, friendly reverse-interview asking Harry how he landed his internship at Balderton Capital. Harry explains reaching out on Twitter after hosting James on his podcast, keeping the dynamic cordial and conversational.3:15–5:38 · Harry as informed peer 1/10 Origins of Passion and The 20 Minute VC Harry details his early passion for VC inspired by watching The Social Network and shares exact commute statistics to explain why he capped his podcast format at 20 minutes. James prompts questions encouragingly without challenging.5:38–9:05 · Harry as informed peer 2/10 VC Trends and Internship Experience Highlights Harry shares key takeaways from interviewing 70 VCs and attending a Balderton board meeting, citing industry quotes about capital differentiation. James gently teases Harry on terminology ('board meeting' vs 'portfolio meeting') in a warm tone.9:06–12:52 · Harry as informed peer 5/10 Industry Future Outlook and Freelance Sharing Economy James actively challenges Harry's optimistic view of the freelance sharing economy by citing recent labor changes at Shyp and legal pressures on Uber. Harry holds his ground politely, arguing the sector has reached a tipping point.12:54–17:14 · Harry as informed peer 2/10 Traits of Successful VCs and Exciting Startups Harry outlines the qualities of successful VCs and breaks down his thesis on specific startups like 3D Hubs and Ticktail. James guides the discussion with inquisitive prompts on personal investment preferences.17:14–20:55 · Harry as informed peer 1/10 Career Next Steps, Advice, and Book Recommendations Harry offers playful contrarian advice for aspiring VCs, recommending they ignore standard industry warnings if they possess deep passion. James concludes the session with supportive banter regarding podcasting effort.1:07–3:15 · Guest teaching 1/10 Securing the Balderton Capital Internship James Wise initiates a lighthearted, friendly reverse-interview asking Harry how he landed his internship at Balderton Capital. Harry explains reaching out on Twitter after hosting James on his podcast, keeping the dynamic cordial and conversational.3:15–5:38 · Guest teaching 3/10 Origins of Passion and The 20 Minute VC Harry details his early passion for VC inspired by watching The Social Network and shares exact commute statistics to explain why he capped his podcast format at 20 minutes. James prompts questions encouragingly without challenging.5:38–9:05 · Guest teaching 3/10 VC Trends and Internship Experience Highlights Harry shares key takeaways from interviewing 70 VCs and attending a Balderton board meeting, citing industry quotes about capital differentiation. James gently teases Harry on terminology ('board meeting' vs 'portfolio meeting') in a warm tone.9:06–12:52 · Guest teaching 3/10 Industry Future Outlook and Freelance Sharing Economy James actively challenges Harry's optimistic view of the freelance sharing economy by citing recent labor changes at Shyp and legal pressures on Uber. Harry holds his ground politely, arguing the sector has reached a tipping point.12:54–17:14 · Guest teaching 3/10 Traits of Successful VCs and Exciting Startups Harry outlines the qualities of successful VCs and breaks down his thesis on specific startups like 3D Hubs and Ticktail. James guides the discussion with inquisitive prompts on personal investment preferences.17:14–20:55 · Guest teaching 2/10 Career Next Steps, Advice, and Book Recommendations Harry offers playful contrarian advice for aspiring VCs, recommending they ignore standard industry warnings if they possess deep passion. James concludes the session with supportive banter regarding podcasting effort.1:07–3:15 · Guest disagreement 0/10 Securing the Balderton Capital Internship James Wise initiates a lighthearted, friendly reverse-interview asking Harry how he landed his internship at Balderton Capital. Harry explains reaching out on Twitter after hosting James on his podcast, keeping the dynamic cordial and conversational.3:15–5:38 · Guest disagreement 0/10 Origins of Passion and The 20 Minute VC Harry details his early passion for VC inspired by watching The Social Network and shares exact commute statistics to explain why he capped his podcast format at 20 minutes. James prompts questions encouragingly without challenging.5:38–9:05 · Guest disagreement 0/10 VC Trends and Internship Experience Highlights Harry shares key takeaways from interviewing 70 VCs and attending a Balderton board meeting, citing industry quotes about capital differentiation. James gently teases Harry on terminology ('board meeting' vs 'portfolio meeting') in a warm tone.9:06–12:52 · Guest disagreement 2/10 Industry Future Outlook and Freelance Sharing Economy James actively challenges Harry's optimistic view of the freelance sharing economy by citing recent labor changes at Shyp and legal pressures on Uber. Harry holds his ground politely, arguing the sector has reached a tipping point.12:54–17:14 · Guest disagreement 0/10 Traits of Successful VCs and Exciting Startups Harry outlines the qualities of successful VCs and breaks down his thesis on specific startups like 3D Hubs and Ticktail. James guides the discussion with inquisitive prompts on personal investment preferences.17:14–20:55 · Guest disagreement 1/10 Career Next Steps, Advice, and Book Recommendations Harry offers playful contrarian advice for aspiring VCs, recommending they ignore standard industry warnings if they possess deep passion. James concludes the session with supportive banter regarding podcasting effort.1:07–3:15 · Harry pushing back 0/10 Securing the Balderton Capital Internship James Wise initiates a lighthearted, friendly reverse-interview asking Harry how he landed his internship at Balderton Capital. Harry explains reaching out on Twitter after hosting James on his podcast, keeping the dynamic cordial and conversational.3:15–5:38 · Harry pushing back 0/10 Origins of Passion and The 20 Minute VC Harry details his early passion for VC inspired by watching The Social Network and shares exact commute statistics to explain why he capped his podcast format at 20 minutes. James prompts questions encouragingly without challenging.5:38–9:05 · Harry pushing back 1/10 VC Trends and Internship Experience Highlights Harry shares key takeaways from interviewing 70 VCs and attending a Balderton board meeting, citing industry quotes about capital differentiation. James gently teases Harry on terminology ('board meeting' vs 'portfolio meeting') in a warm tone.9:06–12:52 · Harry pushing back 6/10 Industry Future Outlook and Freelance Sharing Economy James actively challenges Harry's optimistic view of the freelance sharing economy by citing recent labor changes at Shyp and legal pressures on Uber. Harry holds his ground politely, arguing the sector has reached a tipping point.12:54–17:14 · Harry pushing back 1/10 Traits of Successful VCs and Exciting Startups Harry outlines the qualities of successful VCs and breaks down his thesis on specific startups like 3D Hubs and Ticktail. James guides the discussion with inquisitive prompts on personal investment preferences.17:14–20:55 · Harry pushing back 0/10 Career Next Steps, Advice, and Book Recommendations Harry offers playful contrarian advice for aspiring VCs, recommending they ignore standard industry warnings if they possess deep passion. James concludes the session with supportive banter regarding podcasting effort.

speaking balance: gold is Harry, purple is the guest (3 minute bins)

0:00 · Harry 73.3% · guest 26.7%0:00 · Harry 73.3% · guest 26.7%3:00 · Harry 77.9% · guest 22.1%3:00 · Harry 77.9% · guest 22.1%6:00 · Harry 84.2% · guest 15.8%6:00 · Harry 84.2% · guest 15.8%9:00 · Harry 66.6% · guest 33.4%9:00 · Harry 66.6% · guest 33.4%12:00 · Harry 58.3% · guest 41.7%12:00 · Harry 58.3% · guest 41.7%15:00 · Harry 92.2% · guest 7.8%15:00 · Harry 92.2% · guest 7.8%18:00 · Harry 71.1% · guest 28.9%18:00 · Harry 71.1% · guest 28.9%21:00 · Harry 100% · guest 0%21:00 · Harry 100% · guest 0%
Sharpest disagreement ▶ 11:45 Defending On-Demand Economy Tipping Point

Harry rejects the host's implicit premise that regulatory setbacks will break the freelance economy, insisting it has passed a tipping point where workforce reliance cannot be reversed.

 Hardest push from Harry ▶ 11:18 Pushback on Freelance Economy Growth

James Wise directly tests Harry's thesis by confronting him with specific counterexamples including Shyp reclassifying its workforce and regulatory cases against Uber.

 Biggest teaching moment ▶ 4:32 Podcast User Retention Metrics

Harry educates James on precise listener metrics, explaining that 92% of commutes are under 28 minutes and 86% of listeners do not return to unfinished episodes.

 Harry holds his own ▶ 11:18 Host Cites Shyp and Uber Legal Cases

James demonstrates host expertise by citing real-time industry restructuring at Shyp and legal troubles for on-demand platforms to press the guest on market realities.
the scores for every segment, with the reasoning behind each
ChapterTopicHarry as informed peerGuest teachingGuest disagreementHarry pushing backWhy
Securing the Balderton Capital Internship 1100 James Wise initiates a lighthearted, friendly reverse-interview asking Harry how he landed his internship at Balderton Capital. Harry explains reaching out on Twitter after hosting James on his podcast, keeping the dynamic cordial and conversational.
Origins of Passion and The 20 Minute VC 1300 Harry details his early passion for VC inspired by watching The Social Network and shares exact commute statistics to explain why he capped his podcast format at 20 minutes. James prompts questions encouragingly without challenging.
VC Trends and Internship Experience Highlights 2301 Harry shares key takeaways from interviewing 70 VCs and attending a Balderton board meeting, citing industry quotes about capital differentiation. James gently teases Harry on terminology ('board meeting' vs 'portfolio meeting') in a warm tone.
Industry Future Outlook and Freelance Sharing Economy 5326 James actively challenges Harry's optimistic view of the freelance sharing economy by citing recent labor changes at Shyp and legal pressures on Uber. Harry holds his ground politely, arguing the sector has reached a tipping point.
Traits of Successful VCs and Exciting Startups 2301 Harry outlines the qualities of successful VCs and breaks down his thesis on specific startups like 3D Hubs and Ticktail. James guides the discussion with inquisitive prompts on personal investment preferences.
Career Next Steps, Advice, and Book Recommendations 1210 Harry offers playful contrarian advice for aspiring VCs, recommending they ignore standard industry warnings if they possess deep passion. James concludes the session with supportive banter regarding podcasting effort.

Statements from this episode (9)

Disclosure
Stebbings Discovered VC at Age 12 Watching The Social Network
“I was sitting in the cinema watching The Social Network with Jesse Eisenberg, and I saw Peter Thiel and Clarion Capital investing in Facebook in that film, and I thought, that looks like a pretty, pretty sweet deal. And, you know, actually I think I was about …”
Harry Stebbings Jul 3, 2015 ▶ 3:37
Assertion Contradicted
Stebbings: 92% of Commutes Last Under 28 Minutes
“92% of commutes are under 28 minutes per unitary section.”
Harry Stebbings Jul 3, 2015 ▶ 4:58
Assertion Contradicted
Stebbings: 86% of Listeners Never Return to Unfinished Podcast Episodes
“86% of people don't go back to the podcast they've listened to, but not finished, and so I thought, well, let's get it under the 28 minutes, so we get their user attention, and 20 minutes works well.”
Harry Stebbings Jul 3, 2015 ▶ 5:04
Insight
Stebbings: Capital Is a Crappy Differentiator in VC
“And Dustin Doggan at us says, can a capital is a crappy differentiator? And he's right. You know, your money is the same as mine.”
Harry Stebbings Jul 3, 2015 ▶ 7:17
Opinion
Stebbings: Crowdfunding Cannot Replace Venture Capital Value-Add
“I've asked a lot I've asked Luke Lang, Tom Britton, Crowdcube Syndicate Room, is crowdfunding replacing VC which many think it might do, and that VC value-add is something that cannot be replaced by the crowd, in my opinion, giving it a real sustainable longev…”
Harry Stebbings Jul 3, 2015 ▶ 7:44
Prediction Didn’t hold up
Stebbings: 40% of employees will be freelance by 2020
“By 20, 20, 40% of employees will be freelance.”
Harry Stebbings Jul 3, 2015 ▶ 10:59
Assertion Not checkable as stated
Stebbings: Uber and the freelance economy cannot be significantly regulated
“I'm really bullish on Uber in particular, I think, and the freelance economy. It's now too large a section of the economy for significant regulatory changes to occur.”
Harry Stebbings Jul 3, 2015 ▶ 11:46
Opinion
Stebbings: 3D Hubs Solves 3D Printing Industry Ownership Barrier
“Seeing the potential for a marketplace of three D printers completely eliminates the need to, for through the printing ownership, which I think is a massive setback for the industry just in developing.”
Harry Stebbings Jul 3, 2015 ▶ 15:56
Assertion Not checkable as stated
Stebbings: Almost every guest VC recommends 'The Hard Thing About Hard Things'
“Naturally, every single VC on the show practically has recommended Ben Horace's Hard Thing About Hard Things.”
Harry Stebbings Jul 3, 2015 ▶ 19:46
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