David Barrett, founder and CEO of Expensify, critiques the financial performance of the venture capital industry on 20VC.
0:00 / 0:04exact quote · 4.8s
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“And I'd say like as an asset class, venture capital returns less than, you know, S and P 500.”
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More from David Barrett
Opinion
Barrett: Silicon Valley mostly builds startups to flip and destroy them
“Silicon Valley, more often than not, and I would say vastly more often than not, is building something that gets flipped and destroyed.”
David BarrettNov 17, 2017▶ 6:1620VC: Why Valley Investors Are Really Gamblers, Why The Business Model of Selling To The Biggest Sucker Is Wrong & Why The Best Potential Hires Don't Care Who Your VC is with David Barrett, Founder & CEO @ Expensify
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Barrett: Silicon Valley VCs act like gamblers, not real investors
“The difference is Silicon Valley investors aren't investors. They're gamblers. They're just throwing money at crazy ideas.”
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Insight
Barrett: Founders must follow a playbook for single-company success, not VC portfolios
“And I think that as an entrepreneur, we don't have a portfolio. We have one company. We need to make it work, and so I think we need to follow a playbook For how to make your company succeed, not how to make your VC's portfolio succeed.”
David BarrettNov 17, 2017▶ 11:2720VC: Why Valley Investors Are Really Gamblers, Why The Business Model of Selling To The Biggest Sucker Is Wrong & Why The Best Potential Hires Don't Care Who Your VC is with David Barrett, Founder & CEO @ Expensify
Opinion
Barrett: Top Talent Doesn't Care Which VC Backs Your Startup
“I think that the best people out there just don't give a damn about your VC. They're probably not reading Hacker News. They probably don't care about TechCrunch.”
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Insight
Barrett: High Headcount Growth Signals Inability to Solve Problems Scalably
“Hiring is a solution to a problem. The more hiring you do means the bigger problems you have. And so it means you couldn't solve them in a more creative and scalable way.”
David BarrettNov 17, 2017▶ 19:3620VC: Why Valley Investors Are Really Gamblers, Why The Business Model of Selling To The Biggest Sucker Is Wrong & Why The Best Potential Hires Don't Care Who Your VC is with David Barrett, Founder & CEO @ Expensify
Opinion
Barrett claims Travis Kalanick has an incredibly strong moral compass
“Travis has a complicated story, and I think he's sort of developed kind of this legend around him, which is perhaps surprising to the people who know him, because he's actually a really nice guy with, I would say, one of the most strong moral compasses I know,…”
David BarrettNov 17, 2017▶ 22:1520VC: Why Valley Investors Are Really Gamblers, Why The Business Model of Selling To The Biggest Sucker Is Wrong & Why The Best Potential Hires Don't Care Who Your VC is with David Barrett, Founder & CEO @ Expensify
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