Aug 14, 2018 · 24m · a16z
Winning Founders & Influencing Everyone: Margit Wennmachers at Startup Grind Europe
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions
In this keynote interview from Startup Grind Europe 2018, Andreessen Horowitz partner Margit Wennmachers shares insights on public relations, venture capital operating models, and scaling tech startups across global ecosystems. She provides strategic advice for founders on building authentic brand narratives and navigating media relationships.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. How this is scored →
The host as informed peer 2.3 Guest teaching 3.2 Guest disagreement 0.7 The host pushing back 0.2
speaking balance: gold is the host, purple is the guest (3 minute bins)
Sharpest disagreement ▶ 16:34 Playfully rejecting the tech villain trope
Margit banters with 'What are you talking about?' when Jo brings up portrayals of tech founders as evil geniuses, refusing to accept broad negative generalizations about the industry.
Hardest push from the host ▶ 16:30 Insisting on negative press portrayal trendsJo stands her ground despite Margit's humorous deflection, citing widespread headlines depicting tech entrepreneurs negatively in mainstream media.
Biggest teaching moment ▶ 3:34 Clarifying A16Z's first European dealMargit corrects Jo's assertion about TransferWise being among the first investments by explaining that the buyout of Skype was A16Z's actual inaugural deal in Europe.
The host holds their own ▶ 12:58 Synthesizing the gap between reality and missionJo exhibits deep industry expertise by defining the boundary between healthy vision painting and dangerous over-promising where hype severely outstrips reality.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | The host as informed peer | Guest teaching | Guest disagreement | The host pushing back | Why |
|---|---|---|---|---|---|---|
| Opening Footage of Dog in Snow | 1 | 3 | 0 | 0 | Jo White opens with standard biographical prompts regarding Margit's career trajectory and the origins of OutKast and Andreessen Horowitz. Margit delivers an engaging history of early Silicon Valley and venture capital dynamics while the host passively facilitates. | |
| European Investments and the Skype Buyout | 2 | 4 | 1 | 0 | Margit gently corrects the host's premise regarding A16Z's first European investment, clarifying that the Skype buyout predated venture deals like TransferWise. Jo shares personal context working with A16Z, while Margit details the firm's operational model. | |
| PR Strategy and Owned Content for Startups | 2 | 3 | 0 | 0 | Margit outlines core advice for early-stage startup communications and owned media strategy. Jo interjects with an astute summary about owned content giving founders narrative control, maintaining a harmonious dialogue. | |
| Startup Pitfalls, Over-Promising, and Media Relations | 4 | 3 | 1 | 0 | The host demonstrates strong domain awareness when discussing the dangers of hype outstripping reality and offering actionable PR rules like not being a jerk. Margit expands on founder psychology and media trust with playful anecdotes. | |
| Addressing Tech Backlash and Silicon Valley vs Europe | 3 | 4 | 2 | 1 | Jo raises popular media tropes portraying tech founders as villainous, prompting Margit to playfully challenge the premise and reframe the narrative around cyclical press trends. Jo holds her position on media sentiment while discussing European startup growth. | |
| When to Begin PR and Panel Conclusion | 2 | 2 | 0 | 0 | Margit explains the ideal timing for beginning PR efforts, framing press engagement as a long sales cycle. Jo endorses A16Z's educational content and smoothly concludes the session. |
Statements from this episode (19)
Top venture capital firm rankings rarely change
“If you have paid any attention, the ranking of VC firms doesn't usually shift. Around a lot. It's, you know, it's Sequoia and it's Kleiner and this and that, and this is not really, it's not easy to break into.”
a16z partners do not golf or own vineyards
“So there's no golfing, no vineyards. It's basically all work all the time.”
a16z's first European investment was a Skype buyout
“So the first investment in Europe was actually not a venture investment. It was the buyout of Skype that we did with Silver Lake and the Canadian pension board, I think. So that kind of made people pay attention because it was an unusual deal. I think people's…”
Ben Horowitz passed on TransferWise twice before investing
“And then Ben passed on the deal, I think twice, maybe? But finally corrected this ridiculous mistake, and now we are an investor in TransferWise, and very happily so.”
Decades-long successful companies tend to be founder-run
“If you look at all the big companies that are successful over decades, they tend to be found or run.”
Becoming a CEO is more learnable than developing product genius
“Product genius is kind of binary, you have it or you don't, right? And it's more, becoming a CEO is more learnable than developing product genius.”
a16z employs around 100 operating experts to support founders
“We have about a hundred people who have expertise in a particular field, and their job is to have to be available to the founders”
Most Seed to Series B startups languish in obscurity
“Most companies at the early stage, you know, C to A, often to B, they languish in obscurity. That's just the fate that befalls most of them. So I think a lot of people just don't even get to be noticed.”
Startups need owned content for stories traditional media ignores
“In addition to, you know, having the indirect channel of reporters and bloggers and analysts and all that, who are very, very important, it is also important to have your own content, because there are lots of stories that, you know, a Bloomberg or a Wired wil…”
a16z invests in market size and founders, not current code
“Like we don't invest in companies because of what the code that they've written today. We invest in, in sort of two things, like if it works, how large a company can it be, right? And we invest in the entrepreneur and their potential.”
Founders claiming to change the world alienate US audiences
“You say the word, you say we're going to change the world, people just, like, their eyes glaze over, at least in the United States.”
Founders are responsible when journalists misunderstand their startup
“Any reporter who doesn't get you, It is on you to explain yourself better.”
Half of Andreessen Horowitz's portfolio is deep tech
“We have half of our portfolio is sort of deep tech, wonky stuff.”
Silicon Valley offers 30 times more startup opportunities than Europe
“And for everyone here, there's just 30 or more in Silicon Valley.”
Andreessen Horowitz may eventually open a European office
“Eventually, we might get to a place where we have an office here, hopefully run by folks that are in this community.”
Silicon Valley holds a 60-year head start over Europe
“Silicon Valley just has a 60 year head start of this beautiful combination of the universities, the money, the, frankly, the weather.”
Silicon Valley maintains far higher risk tolerance than Europe
“And I don't want to speak for the UK, but like in Germany, if there's a bankruptcy on your resume, that ain't very good. So the risk tolerance, I just think is just so much greater in Silicon Valley still.”