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Jan 11, 2019 · 29m · 20vc

20VC: How Founders Can Really Get The Most Out of Their Board, Why Culture Fit At The Board Level Is Not Discussed Enough & Why Growth and Culture Are 2 Sides of The Same Coin with Avi Meir, Founder & CEO @ TravelPerk

Avi Meir · 17m spoken Harry Stebbings · 10m spoken
0:00 / 0:00

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In this episode of The 20 Minute VC, host Harry Stebbings interviews Avi Meir, founder and CEO of Travelperk, to explore strategies for effective board governance, maintaining organizational culture during rapid expansion, and fundraising dynamics. Meir shares operational frameworks from his entrepreneurial journey, offering actionable insights for venture-backed founders on scaling leadership and investor alignment.

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 38.6% of the talking time here. How this is scored →

Harry as informed peer 2.0 Guest teaching 3.7 Guest disagreement 1.4 Harry pushing back 1.6
05100:0010:0020:003:11–6:47 · Harry as informed peer 1/10 Avi Meir's Journey to Founding Travelperk Harry asks standard foundational questions about Avi's founder journey. Avi shares key learnings from Hotel Ninjas on ensuring you choose a market with explicit pain.6:47–9:20 · Harry as informed peer 2/10 Balancing Industry Expertise with Fresh Perspectives Harry gently probes on whether deep industry experts might 'know too much'. Avi agrees and reframes the need to balance open-minded experts with fresh 'newbies'.9:20–13:32 · Harry as informed peer 2/10 Framework for Building an Advisory and Board Team Avi provides a structured three-part framework for assembling advisors and board members, while Harry facilitates with clear follow-ups on culture fit.13:32–17:01 · Harry as informed peer 2/10 Avoiding Board Room Dysfunction and Political Games Avi warns VCs against playing political games or panicking, jokingly noting 'karma is a bitch'. Harry concurs and references an investor blog post on offsite dinners.17:01–20:39 · Harry as informed peer 3/10 Leveraging Networks and Negotiating Term Sheets Harry pushes Avi on negotiation mistakes and quick fundraising velocity. Avi playfully rejects the idea of ever starting a 'next company' before detailing option pool negotiation tactics.20:39–23:53 · Harry as informed peer 2/10 Growth and Culture as Two Sides of the Same Coin Avi explains how growth and culture are two sides of the same coin, noting that scaling requires managers to relearn their job every 6 to 12 months.23:53–27:00 · Harry as informed peer 2/10 Quick Fire Round: Books, Philosophy, and Tesla Thesis In a rapid-fire session, Avi shares contrarian takes on Tesla reaching a trillion dollar valuation, work-life balance being a myth, and eating oysters as a vegan.3:11–6:47 · Guest teaching 3/10 Avi Meir's Journey to Founding Travelperk Harry asks standard foundational questions about Avi's founder journey. Avi shares key learnings from Hotel Ninjas on ensuring you choose a market with explicit pain.6:47–9:20 · Guest teaching 4/10 Balancing Industry Expertise with Fresh Perspectives Harry gently probes on whether deep industry experts might 'know too much'. Avi agrees and reframes the need to balance open-minded experts with fresh 'newbies'.9:20–13:32 · Guest teaching 4/10 Framework for Building an Advisory and Board Team Avi provides a structured three-part framework for assembling advisors and board members, while Harry facilitates with clear follow-ups on culture fit.13:32–17:01 · Guest teaching 4/10 Avoiding Board Room Dysfunction and Political Games Avi warns VCs against playing political games or panicking, jokingly noting 'karma is a bitch'. Harry concurs and references an investor blog post on offsite dinners.17:01–20:39 · Guest teaching 4/10 Leveraging Networks and Negotiating Term Sheets Harry pushes Avi on negotiation mistakes and quick fundraising velocity. Avi playfully rejects the idea of ever starting a 'next company' before detailing option pool negotiation tactics.20:39–23:53 · Guest teaching 4/10 Growth and Culture as Two Sides of the Same Coin Avi explains how growth and culture are two sides of the same coin, noting that scaling requires managers to relearn their job every 6 to 12 months.23:53–27:00 · Guest teaching 3/10 Quick Fire Round: Books, Philosophy, and Tesla Thesis In a rapid-fire session, Avi shares contrarian takes on Tesla reaching a trillion dollar valuation, work-life balance being a myth, and eating oysters as a vegan.3:11–6:47 · Guest disagreement 1/10 Avi Meir's Journey to Founding Travelperk Harry asks standard foundational questions about Avi's founder journey. Avi shares key learnings from Hotel Ninjas on ensuring you choose a market with explicit pain.6:47–9:20 · Guest disagreement 1/10 Balancing Industry Expertise with Fresh Perspectives Harry gently probes on whether deep industry experts might 'know too much'. Avi agrees and reframes the need to balance open-minded experts with fresh 'newbies'.9:20–13:32 · Guest disagreement 1/10 Framework for Building an Advisory and Board Team Avi provides a structured three-part framework for assembling advisors and board members, while Harry facilitates with clear follow-ups on culture fit.13:32–17:01 · Guest disagreement 2/10 Avoiding Board Room Dysfunction and Political Games Avi warns VCs against playing political games or panicking, jokingly noting 'karma is a bitch'. Harry concurs and references an investor blog post on offsite dinners.17:01–20:39 · Guest disagreement 2/10 Leveraging Networks and Negotiating Term Sheets Harry pushes Avi on negotiation mistakes and quick fundraising velocity. Avi playfully rejects the idea of ever starting a 'next company' before detailing option pool negotiation tactics.20:39–23:53 · Guest disagreement 1/10 Growth and Culture as Two Sides of the Same Coin Avi explains how growth and culture are two sides of the same coin, noting that scaling requires managers to relearn their job every 6 to 12 months.23:53–27:00 · Guest disagreement 2/10 Quick Fire Round: Books, Philosophy, and Tesla Thesis In a rapid-fire session, Avi shares contrarian takes on Tesla reaching a trillion dollar valuation, work-life balance being a myth, and eating oysters as a vegan.3:11–6:47 · Harry pushing back 1/10 Avi Meir's Journey to Founding Travelperk Harry asks standard foundational questions about Avi's founder journey. Avi shares key learnings from Hotel Ninjas on ensuring you choose a market with explicit pain.6:47–9:20 · Harry pushing back 2/10 Balancing Industry Expertise with Fresh Perspectives Harry gently probes on whether deep industry experts might 'know too much'. Avi agrees and reframes the need to balance open-minded experts with fresh 'newbies'.9:20–13:32 · Harry pushing back 1/10 Framework for Building an Advisory and Board Team Avi provides a structured three-part framework for assembling advisors and board members, while Harry facilitates with clear follow-ups on culture fit.13:32–17:01 · Harry pushing back 1/10 Avoiding Board Room Dysfunction and Political Games Avi warns VCs against playing political games or panicking, jokingly noting 'karma is a bitch'. Harry concurs and references an investor blog post on offsite dinners.17:01–20:39 · Harry pushing back 3/10 Leveraging Networks and Negotiating Term Sheets Harry pushes Avi on negotiation mistakes and quick fundraising velocity. Avi playfully rejects the idea of ever starting a 'next company' before detailing option pool negotiation tactics.20:39–23:53 · Harry pushing back 1/10 Growth and Culture as Two Sides of the Same Coin Avi explains how growth and culture are two sides of the same coin, noting that scaling requires managers to relearn their job every 6 to 12 months.23:53–27:00 · Harry pushing back 2/10 Quick Fire Round: Books, Philosophy, and Tesla Thesis In a rapid-fire session, Avi shares contrarian takes on Tesla reaching a trillion dollar valuation, work-life balance being a myth, and eating oysters as a vegan.

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

0:00 · Harry 100% · guest 0%0:00 · Harry 100% · guest 0%3:00 · Harry 25% · guest 75%3:00 · Harry 25% · guest 75%6:00 · Harry 21.5% · guest 78.5%6:00 · Harry 21.5% · guest 78.5%9:00 · Harry 22.6% · guest 77.4%9:00 · Harry 22.6% · guest 77.4%12:00 · Harry 16.6% · guest 83.4%12:00 · Harry 16.6% · guest 83.4%15:00 · Harry 32.5% · guest 67.5%15:00 · Harry 32.5% · guest 67.5%18:00 · Harry 24% · guest 76%18:00 · Harry 24% · guest 76%21:00 · Harry 19.3% · guest 80.7%21:00 · Harry 19.3% · guest 80.7%24:00 · Harry 34.8% · guest 65.2%24:00 · Harry 34.8% · guest 65.2%27:00 · Harry 99.8% · guest 0.2%27:00 · Harry 99.8% · guest 0.2%
Sharpest disagreement ▶ 17:59 Avi rejects premise of a next company

When Harry asks what Avi would do differently for his next company, Avi cuts in immediately to state that TravelPerk is the last company he will ever work for.

 Hardest push from Harry ▶ 8:42 Harry pushes back on relying solely on industry experience

Harry challenges Avi on whether having deep industry experience around the table can be a drawback due to knowing too much, forcing Avi to address the need for fresh perspectives.

 Biggest teaching moment ▶ 9:39 Avi's 3-category framework for advisors and board members

Avi educates Harry with a clear, structured breakdown of the exact three types of people a founder needs around the table: industry experts, fundraising connectors, and ex-operators.

 Harry holds his own ▶ 17:47 Harry presses on fundraising negotiation improvements

Harry drills into Avi on what specific negotiation aspects he would improve in future rounds, leading Avi to share specific advice on pushing harder on option pools.
the scores for every segment, with the reasoning behind each
ChapterTopicHarry as informed peerGuest teachingGuest disagreementHarry pushing backWhy
Avi Meir's Journey to Founding Travelperk 1311 Harry asks standard foundational questions about Avi's founder journey. Avi shares key learnings from Hotel Ninjas on ensuring you choose a market with explicit pain.
Balancing Industry Expertise with Fresh Perspectives 2412 Harry gently probes on whether deep industry experts might 'know too much'. Avi agrees and reframes the need to balance open-minded experts with fresh 'newbies'.
Framework for Building an Advisory and Board Team 2411 Avi provides a structured three-part framework for assembling advisors and board members, while Harry facilitates with clear follow-ups on culture fit.
Avoiding Board Room Dysfunction and Political Games 2421 Avi warns VCs against playing political games or panicking, jokingly noting 'karma is a bitch'. Harry concurs and references an investor blog post on offsite dinners.
Leveraging Networks and Negotiating Term Sheets 3423 Harry pushes Avi on negotiation mistakes and quick fundraising velocity. Avi playfully rejects the idea of ever starting a 'next company' before detailing option pool negotiation tactics.
Growth and Culture as Two Sides of the Same Coin 2411 Avi explains how growth and culture are two sides of the same coin, noting that scaling requires managers to relearn their job every 6 to 12 months.
Quick Fire Round: Books, Philosophy, and Tesla Thesis 2322 In a rapid-fire session, Avi shares contrarian takes on Tesla reaching a trillion dollar valuation, work-life balance being a myth, and eating oysters as a vegan.

Statements from this episode (13)

Disclosure
Meir: 95% of hotel owners rejected Hotel Ninjas' cloud software pitch
“95% of the people you talk to do not need. They don't feel that they have a pain that you're solving.”
Avi Meir Jan 11, 2019 ▶ 6:06
Insight
Meir: Warm intros from portfolio companies are best for securing term sheets
“And I know that the best way to get a term sheet is a very warm introduction from a portfolio company, right? I mean, this is the best way.”
Avi Meir Jan 11, 2019 ▶ 10:27
Insight
Meir: Founders must interview and reference-check board members like employees
“So I treat investors and board members the way I treat employees and they need to be a screen. They need to be referenced and they need to be interviewed.”
Avi Meir Jan 11, 2019 ▶ 13:26
Prediction Not checkable as stated
Meir: Investors who mistreat founders quickly lose reputation because founders talk
“We do talk, and something for investors to note, I think, is everybody knows it, but I think it's important to remind everybody that we talk between us, right? Don't screw entrepreneurs because everybody will know, right?”
Avi Meir Jan 11, 2019 ▶ 13:50
Assertion Not checkable as stated
Meir: VCs sometimes destroy M&A deals over immaterial terms and ego
“I heard stories about investors who are, of course, board members as well, who kill deals, kill fundraising deals, or M&A, just to maximize, and it's not even material, like, just, you know, because they don't like not getting everything.”
Avi Meir Jan 11, 2019 ▶ 14:27
Disclosure
Meir: TravelPerk organized a full-day Jerusalem tour before board meetings
“We took the entire board, To Tel Aviv, and we made sure to have a full day before the board meeting, just touring Jerusalem, just, you know, like a touristic activity, no discussions planned.”
Avi Meir Jan 11, 2019 ▶ 16:18
Insight
Meir: Informal social gatherings yield more board value than formal meetings
“Whatever you do, a dinner or tour, I would always plan, and we actually do it every single time, takes a bit more time, You have to commit to kind of travel a bit longer than just three hours to a board meeting, but you get way more value out of it than just k…”
Avi Meir Jan 11, 2019 ▶ 16:38
Disclosure
Meir: TravelPerk never conducted concentrated fundraising sprints pitching dozens of funds
“I never went into, like, a fundraise mode and pitched, like, 30 funds in a period of a month. I never had to do it.”
Avi Meir Jan 11, 2019 ▶ 17:32
Prediction Held up
Meir: TravelPerk is the last company he will ever work for
“Travelpeak is the last company I'm going to work for.”
Avi Meir Jan 11, 2019 ▶ 18:00
Insight
Meir: Founders neglect option pool negotiations due to valuation fatigue
“It's kind of one of the last pieces you negotiate on the term sheet, and everybody's tired from pushing on valuation, and then you just accept whatever is written there. And I think you have to be more strategic.”
Avi Meir Jan 11, 2019 ▶ 18:16
Disclosure
Meir: TravelPerk rejected remote work, accepting talent loss to maintain culture
“And so far, we made very clear not to have multiple locations. We only had Barcelona. We never did remote, and we lost great people because we didn't do remote, and some, like, great engineers want to travel to Japan and work from there, so we paid some price,…”
Avi Meir Jan 11, 2019 ▶ 20:51
Insight
Meir: Startup employees must learn new jobs every six to twelve months
“So if you want to keep growing, you as a person, you want to keep growing at the speed of the company, you need to get a new job in the company every six to 12 months. And this is just very challenging for most people, first, to accept, and second, to execute,…”
Avi Meir Jan 11, 2019 ▶ 23:11
Prediction Held up
Meir in 2019: Tesla will become a $1 trillion company
“I believe that Tesla will be a trillion dollar company.”
Avi Meir Jan 11, 2019 ▶ 25:51
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