Samir Kaul, Founding Partner at Khosla Ventures, reflects on key lessons learned over his 17-year career in venture capital.
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“That you can only lose one time your money and that you can make infinite amounts. I would have taken even wilder bets earlier in my career.”
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More from Samir Kaul
Opinion
Samir Kaul: Exercising default pro rata rights is a total cop-out
“So to me, I think pro rata is a total cop-out.”
Samir KaulJan 13, 2020▶ 11:3720VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
Insight
Kaul: VCs are judged on net returns above 20% IRR, not win rates
“In this business, being conservative is a real problem, because we're in the business of returning 20% or greater net IRR to our investors, and we don't get judged by how many companies succeed out of the number of companies we invest in.”
Samir KaulJan 13, 2020▶ 6:4220VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
Disclosure
Khosla Ventures has never had a partner deal veto in 17 years
“In my 17 years being here, I can't remember a veto. We don't really even have a number for a veto.”
Samir KaulJan 13, 2020▶ 10:0420VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
Insight
Kaul: A CEO who blindly follows board advice is unfit for the role
“If a CEO, if he or she just listens to everything I say, then they're definitely not the right entrepreneur. They're definitely not the right CEO.”
Samir KaulJan 13, 2020▶ 20:3020VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
Opinion
Venture capitalists fleeing the sector killed the early cleantech industry
“It's what really killed the cleantech industry. And there are a lot of reasons, but one of the reasons was that all my fellow brethren in the venture industry ran for the hills.”
Samir KaulJan 13, 2020▶ 23:3820VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
AssertionNot checkable as stated
Khosla Ventures' cleantech portfolio will generate a positive overall return
“We will end up positive, and there's a number of companies that are worth north of a few billion dollars there that are making real impacts.”
Samir KaulJan 13, 2020▶ 28:1320VC: Khosla Ventures Founding Partner, Samir Kaul on Why Pro Rata Is A Cop Out, Why He Likes Technical Risk and Does Not Take Market Risk & How To Approach Time Allocation Across The Portfolio In Venture
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