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Hadley Harris

Co-founder and General Partner, Eniac Ventures · 1 appearance on the record.

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

investorfounderexecutiveengineer@hadley ↗eniac.vc ↗

Hadley Harris co-founded Eniac Ventures in 2010, leading seed and pre-seed investments in artificial intelligence, developer tooling, SaaS, and healthcare. Before venture capital, he held operating roles including Chief Business Officer at Thumb and executive positions at Vlingo.

17statements → 6claims → 5claims resolved → 100%fully supported → 3.82/5average certainty → 2/5average debate potential → 4.3/5argument clarity · the sources →

5 supported 0 partly supported 0 contradicted 1 not checkable as stated how the 6 claims stand · each chip opens the sources

3 predictions · 3 assertions · 3 opinions · 2 insights · 6 disclosures · every statement was checked. The predictions and assertions are the 6 claims: statements the public record can support or contradict. 5 are resolved, and 1 names 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 Hadley 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

Prediction Held up
Overvalued late-stage startups face severe down-round risks in 2016
“I think there's a lot of companies now, especially at the later stages, that are going to have a lot of issues in the next year because they raised rounds at too high of a valuation. The market has corrected, and now they need to raise rounds at down rounds or…”
Hadley Harris Feb 3, 2016 ▶ 12:04 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
100% certainty 3
100% 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? →

4.3 / 5 directness 4.5 · coherence 4.7 · precision 4 · compression 3.6

redirected or did not address 1 of 24 assessed questions (4%). Watch them ▸

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? →

270 words/min while actually speaking · 47.8 um and uh per 1k words

Measured by listening to the audio itself: 3,873 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 →

How the interview went all their pushback → series average →

Across 1 rated episode:

host pushback ▾ 2/10
pushed back at the host 2/10
setup questions received 70%

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

Prediction Held up
Overvalued late-stage startups face severe down-round risks in 2016
“I think there's a lot of companies now, especially at the later stages, that are going to have a lot of issues in the next year because they raised rounds at too high of a valuation. The market has corrected, and now they need to raise rounds at down rounds or…”
Hadley Harris Feb 3, 2016 ▶ 12:04 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Opinion
Harris disagrees with seed funds that refrain from follow-on investing
“I don't agree with the idea of not following on in your good companies.”
Hadley Harris Feb 3, 2016 ▶ 10:35 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Insight
Seed funds eliminate signaling risk by only following outside-led rounds
“If you always follow when they raise a new round from a new investor, you also get around any signaling issues.”
Hadley Harris Feb 3, 2016 ▶ 11:12 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Opinion
Eniac Ventures dislikes founders who actively search for problems to fix
“Probably the type of team we like least, kind of in this area is teams that kind of stumble upon a problem, or they're just trying to find a problem to fix. The best teams are ones that kind of in their everyday life as an employee or as a consumer notice some…”
Hadley Harris Feb 3, 2016 ▶ 16:32 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Assertion Supported
The steepest venture funding drop-off occurs between Seed and Series A
“You could argue that probably the biggest drop off happens between the seed and the a rather than the a and the b. And I think that's just because there is so much seed money and there are so many seed funds compared to a funds where, you know, you really, tha…”
Hadley Harris Feb 3, 2016 ▶ 17:25 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Insight
Seed startups must raise enough capital for 18 to 24 months runway
“Raising enough money in the seed to that we have kind of 18 to 24 months to do what we need to do to get to the A. The biggest mistake I see is companies not raising a large enough seed where, and you look at it, it's like, well, there's really no room for you…”
Hadley Harris Feb 3, 2016 ▶ 19:16 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Opinion
Startups raising a second Seed round have lower chances of success
“Now, companies have, certainly there's a bunch of companies that have raised second seeds and have gone on to be successful, but once you get to that point, I think your chances of success are lower.”
Hadley Harris Feb 3, 2016 ▶ 20:39 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Assertion Not checkable as stated
Prominent VCs warned Eniac founders in 2010 that mobile was too niche
“A lot of the VCs that we had worked with as entrepreneurs who are Very well-respected VCs and continue to be very well-respected and nothing against them, but a lot of them told us that, you know, it was too niche, that we needed to be broader.”
Hadley Harris Feb 3, 2016 ▶ 4:22 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Assertion Supported
Harris: New York is clearly the second-largest US tech market
“I think it's gotten to the point where it's clearly the second biggest market.”
Hadley Harris Feb 3, 2016 ▶ 6:26 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac Ventures avoids participating as a new investor in second Seed rounds
“We generally don't participate kind of as a new investor in those when we have companies that need to do that, you know, we try and be as supportive as possible.”
Hadley Harris Feb 3, 2016 ▶ 18:58 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Prediction Held up
Mobile enterprise will produce a Salesforce-scale breakout within 5 to 10 years
“Under hyped for us, I think is mobile enterprise. I think you're going to see a lot of amazing companies come out in, in grow in the next five, 10 years both for desk and non-desk workers. You know, I think there's going to be A Salesforce Oracle type company …”
Hadley Harris Feb 3, 2016 ▶ 22:23 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac Ventures allocated half of its 2015 investments to San Francisco
“If you look at kind of our investments last year, about half were in San Francisco, about a quarter were in New York and about a quarter were We're elsewhere.”
Hadley Harris Feb 3, 2016 ▶ 6:34 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac Ventures acquired its Airbnb equity by selling an early portfolio company
“Airbnb is a situation where we sold a company to them early on.”
Hadley Harris Feb 3, 2016 ▶ 8:23 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Prediction Held up
Eniac Ventures takes pro-rata but never leads Series A or B rounds
“Our model is to take our pro rata in the follow on rounds, but we would never lead a series A or B or something like that given our size and our focus.”
Hadley Harris Feb 3, 2016 ▶ 9:29 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac Ventures has never experienced a portfolio down round as of 2016
“I, we've been fortunate that we haven't had one yet.”
Hadley Harris Feb 3, 2016 ▶ 12:47 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac Ventures agrees on valuation in 19 out of 20 startup deals
“I would say, you know, 19 out of 20, we were able to agree on a valuation and, It's more about wanting to work together and coming to something that we're, that we we're comfortable with rather than kind of a pure negotiation.”
Hadley Harris Feb 3, 2016 ▶ 15:10 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures
Disclosure
Eniac requires strong retention and organic growth before investing in social startups
“We tend to try and find companies that even if it's a small number of users have really great data retention engagement on those users. And then some sort of semblance of organic growth before we get involved.”
Hadley Harris Feb 3, 2016 ▶ 23:07 20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ Eniac Ventures

Appearances (1)

EpisodeDateSpeaking time
20VC: The Evolution Of Mobile & The Importance Of Follow On Funding with Hadley Harris @ E Feb 3, 2016 17m
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