Alex Taussig

Board Partner, Lightspeed Venture Partners · 2 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

investorauthor@ataussig ↗drinkingfromthefirehose.substack.com ↗

Alex Taussig has invested over $600 million into category-defining marketplace and software platforms, leading or managing investments in Vinted, Faire, Whatnot, and Zola. He authors the newsletter Drinking from the Firehose and previously spent nearly seven years as a partner at Highland Capital Partners.

34statements → 16claims → 12claims resolved → 75%fully supported → 3.97/5average certainty → 1.94/5average debate potential → 4.5/5argument clarity · the sources → 24said about them ↓

9 supported 3 partly supported 0 contradicted 1 not yet assessed 3 not checkable as stated how the 16 claims stand · each chip opens the sources

1 prediction · 15 assertions · 3 opinions · 13 insights · 2 disclosures · every statement was checked. The prediction and assertions are the 16 claims: statements the public record can support or contradict. 12 are resolved, 1 is not yet assessed, and 3 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Alex argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Taussig: High-margin eBay is losing market share yearly to Vinted
“Usually the highest EBITDA margin businesses have the lowest growth, right? And so it's this kind of funny thing where You know, the business like eBay has a great EBITDA margin. It hasn't really, it's not really growing and it's kind of losing market share ev…”
Alex Taussig Feb 12, 2024 ▶ 1:06:59 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
none yet certainty 3
85% certainty 4
100% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

Argument clarity: do they answer the question? how? →

4.5 / 5 directness 4.7 · coherence 4.9 · precision 4.2 · compression 4.1

answered every one of 16 assessed questions directly

This is a score against a rubric. It is not a rank. Every host question → answer exchange is scored with names hidden on directness, coherence, precision and compression, 1–5 each, on meaning alone: disfluencies are ignored, and only raw unedited episodes count. This is the score that measures thought. Every scored exchange, scores shown → · The rubric and its checks →

How they sound: speaking style how? →

268 words/min while actually speaking · 8.1 um and uh per 1k words · 35.2 false starts per 1k · 32.1% of pauses land inside a clause

Measured by listening to the audio itself: 6,542 words across 1 episode of raw-level tape, transcribed verbatim with every um and uh kept, each one attributed only where the alignment onto our timed stream is unambiguous. These are measurements of speaking style. We do not rank them: across this corpus, fluency and argument quality are nearly uncorrelated (ρ≈0.2), and smooth talking does not signal clear thinking. How it's measured →

Everything Alex Taussig said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Taussig: Higher interest rates benefited Vinted against discounting competitors
“The end of zero interest rates benefited us a lot. I remember when, early when I joined the board, it was still, we're still in this era of like insane discounting by some of our competitors in various regions. And we had to make these hard choices. Like, do w…”
Alex Taussig Feb 12, 2024 ▶ 27:08 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Assertion Supported
Taussig: High-margin eBay is losing market share yearly to Vinted
“Usually the highest EBITDA margin businesses have the lowest growth, right? And so it's this kind of funny thing where You know, the business like eBay has a great EBITDA margin. It hasn't really, it's not really growing and it's kind of losing market share ev…”
Alex Taussig Feb 12, 2024 ▶ 1:06:59 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Disclosure
Taussig: Lightspeed risks losing most capital for small chance of unbounded upside
“Lightspeed is really a Silicon Valley firm founded in Silicon Valley, but we invest globally, but everywhere we invest, we bring that Silicon Valley mentality and technological optimism. And what I mean by that is we're definitely willing to take risk, perhaps…”
Alex Taussig Mar 12, 2018 ▶ 6:55 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Assertion Partly supported
Taussig: U.S. retail saw more store openings than closings in 2017
“There were actually more store openings than closings across the retail sector in 2017.”
Alex Taussig Mar 12, 2018 ▶ 10:12 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Insight
Taussig: Frozen food startups operationally outperform fresh delivery businesses like Blue Apron
“Frozen has some inherent advantages over fresh food. Namely, the operations of manufacturing are more similar to consumer packaged goods than the complex cooking operations you might find inside of a blue apron or freshly. Moreover, customers who don't consume…”
Alex Taussig Mar 12, 2018 ▶ 32:12 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Disclosure
Taussig: Vinted is no longer raising venture capital
“We're not raising venture capital anymore. We're looking at our cash flow and saying, how do we want to invest that cash flow next year?”
Alex Taussig Feb 12, 2024 ▶ 37:38 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Assertion Supported
Taussig: Post-COVID consumer cohort degradation caused 2022 cash burn spikes
“If you look at any consumer company, in 2020 and 20 21 their cohorts look fundamentally different than they did in 2022 and 20 23 they just performed different people were adopting new behaviors a lot of those behaviors did not stick and a lot of projections a…”
Alex Taussig Feb 12, 2024 ▶ 38:42 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Opinion
Taussig: Retail is not dying, only specific visible formats are failing
“It's not that retail is dying. It's that there's a few formats of retail that are no longer working, but those formats are highly visible.”
Alex Taussig Mar 12, 2018 ▶ 9:10 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Insight
Alex Taussig: Digital brands need offline strategies at $100M-$200M revenue
“We typically start to see once you breach a 100,000,200 million in revenue, you need to start going and figuring out some offline strategy.”
Alex Taussig Mar 12, 2018 ▶ 12:03 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Assertion Supported
Taussig: Google and Facebook capture ~90% of recent ad growth
“Something like 89 or 90% of growth in advertising dollars In the last year or so was inside of Google and Facebook.”
Alex Taussig Mar 12, 2018 ▶ 14:34 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Assertion Supported
Taussig: The average consumer downloads net zero new apps per month
“The average consumer downloads net zero apps each month.”
Alex Taussig Mar 12, 2018 ▶ 14:43 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Assertion Supported
Taussig: MBAs created tens of billions in startup market cap since 2008
“The counter argument that an MBA disqualifies you from participating meaningfully in the startup ecosystem is just not true. And there's actually just in my class in business school, Harvard business school, 2009, you had rent the runway, thread up cloud flare…”
Alex Taussig Mar 12, 2018 ▶ 30:22 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow
Insight
Taussig: Non-founder CEOs can drive critical refounding moments in startups
“And I believe that Companies can have these refounding moments where, where a really outstanding individual comes in with the right set of skills for a given moment in time and takes a company on a different trajectory.”
Alex Taussig Feb 12, 2024 ▶ 12:06 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Prediction Open · timeframe Dec 2030
Taussig: Fashion resale projected to reach 20% of apparel market by 2030
“It's actually a lot of people think resale could be 20% of all apparel by 2030.”
Alex Taussig Feb 12, 2024 ▶ 13:32 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Assertion Supported
Taussig: Vinted was already profitable in France during 2018 fundraising
“Because it was very clear they had won France at that point in time. And it was, and France was like, it was a profitable region, right?”
Alex Taussig Feb 12, 2024 ▶ 15:50 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Recommendations are more critical in resale than traditional retail
“Recommendations are even more critical in resale than they are in, in, in new.”
Alex Taussig Feb 12, 2024 ▶ 20:46 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Assertion Not checkable as stated
Taussig: Vinted achieved social media-like engagement levels in 2019
“When we looked at Vinted in 2019, it had social media like time spent. In the app.”
Alex Taussig Feb 12, 2024 ▶ 21:41 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Opinion
Taussig: Temu and Shein directly compete with H&M and Zara
“I mean, they're really competing against H and M and a lot of fast fashion Zara, like the fast fashion companies.”
Alex Taussig Feb 12, 2024 ▶ 31:34 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Marketplaces cannot grow arbitrarily fast without destroying equilibrium
“The tricky thing about marketplaces is that you cannot grow arbitrarily fast. There is an efficient frontier. That, that you want to hit where you can balance supply and demand and fulfill a high quality experience for both sides of the marketplace.”
Alex Taussig Feb 12, 2024 ▶ 36:57 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Marketplace inventory expansion faces diminishing returns per user session
“One of the fundamental things like never changes across all marketplaces is that more liquidity generates higher and more inventory generates higher conversion rates, but there's diminishing returns on that, right? Because the user can only see so much invento…”
Alex Taussig Feb 12, 2024 ▶ 40:51 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Lightspeed evaluates market opportunity by surface area, not dollar TAM
“At Lightspeed, when we think about addressable market, we don't really think about it in dollars first. We think of it as surface area. We think of it as like, how, what is the surface area we're gaining access to here uniquely in our strategic wedge? Because …”
Alex Taussig Feb 12, 2024 ▶ 48:20 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Silicon Valley VC culture incentivizes fair treatment as a repeat game
“Silicon Valley has this like weird risk loving kind of culture. And we also know that it's a repeat game. We know that we're going to be playing the game with these people for decades. And so we got to treat everyone right.”
Alex Taussig Feb 12, 2024 ▶ 1:00:50 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Insight
Taussig: Return on capital deployed compounds businesses better than margin metrics
“What's your return on equity? Like what is your, when you make a hundred million dollars in investment, you know, in the coming year, well, what do we expect the return on that hundred million dollars to be over the ensuing five years? And that's a hard thing …”
Alex Taussig Feb 12, 2024 ▶ 1:09:41 Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings
Assertion Not checkable as stated
Taussig: Highland and Lightspeed reject VC superstar culture for service mindset
“In both firms, both at Highland and Lightspeed, there's no superstar culture. Neither are firms where we really like to go in front and be the star of the show. We prefer to think of venture capital as a service business, and that it's our job to remain behind…”
Alex Taussig Mar 12, 2018 ▶ 6:27 20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Mechanics of Cash Flow

Show 10statements(10 left)

The other half of the tape: Alex Taussig's own voice is left out of every number here. Other people bring the name up 22 times in 13 episodes on 20VC. 2 statements on the record name them. every mention, with the transcript →

Who brings them up most Harry Stebbings 14Nicole Quinn 5Mike Mignano 1Jeremy Liew 1Jana Messerschmidt 1

Statements about Alex Taussig, by other people (2)

Insight
Empathetic board members can act as co-founder sounding boards
“Both Alex and Carl be the type of people that I can call. I can be a little vulnerable with, you know, I can, I will get that empathy, but they're also just wonderful sounding boards. So the decisions that one would usually make with a co-founder, I find that …”
Rachel Drori Mar 30, 2018 ▶ 14:41 20VC: Tearing Up Term Sheets and Writing Your Own, Why Founders Must Do "VC Dating" Pre-Fundraise & The Benefits of Capital Constraints in The Early Days with Rachel Drori, Founder & CEO @ Daily Harvest
Assertion Not checkable as stated
Jeremy Liew averages two board meetings and seven portfolio calls weekly
“And so on average, I have two board meetings per week. And then seven, I just did a analysis of my calendar for a couple of months as did Alex Taussig and Nicole Quinn. And so, so this, these numbers are sort of top of mind, but two, two board meetings per wee…”
Jeremy Liew Apr 22, 2019 ▶ 28:08 20VC: Lightspeed's Jeremy Liew on Why It Is More Important To Be Right Than Contrarian, The Most Common Mistakes Made By Hyper-Growth Companies & 3 Characteristics That Make An Individual Incredible At Sourcing

Every mention by year

tap a year for its mentions
0042842018201920202021202220232024episodesmentions
0242018201920202021202220232024episodes it came up in
002.52542018201920202021202220232024episodesmentions per episode
2024 2 mentions in 2 episodes 1 per episode
2023 5 mentions in 1 episode
2022 1 mention in 1 episode
2020 1 mention in 1 episode
2019 7 mentions in 4 episodes 2 per episode
2018 6 mentions in 4 episodes 2 per episode

Appearances (2)

EpisodeDateSpeaking time
Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E11 Feb 12, 2024 28m
20VC: Lightspeed's Alex Taussig on VC Risk Mentality, The Current State of Retail & The Me Mar 12, 2018 24m
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