Everything Alison Goldberg said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Goldberg: Founders should not have to network their way to VCs
“You know, we want to see a diversity of ideas from a diversity of different kinds of people, and so the whole concept of you have to network your way to us, I don't really believe in that.”
Goldberg: Corporate VCs are not ideal lead investors for Series A rounds
“So in my view, I don't think corporates are your best lead investor for a series A. If you do that, then I do think you run into those negative signaling issues when you go out to raise the series B, and people are asking sort of, why do you only have a strate…”
Goldberg: VCs should accept business plans sent via Twitter DMs
“And if people DM you or try to DM you or at you on Twitter and want to send you a business plan, say yes. You know, it's not that hard.”
Founders should be cautious of CVCs using investments as acquisition pipelines
“So if that is sort of the MO of the strategic group, I'd be cautious if I were an entrepreneur.”
Goldberg: Earlier startup exits yield better dollar returns, not just IRRs
“If you look at any, certainly our portfolio, almost anyone's portfolio, the earlier the exits, usually the better. Not just from an IRR standpoint, because that's just math, but just from a, just dollar over dollar standpoint as well, when we've looked at that…”
Goldberg: Esports and VR are overhyped in media
“Overhyped, I think, has been esports and VR, too, but definitely esports.”
Time Warner Investments maintains a 50/50 balance between financial and strategic returns
“I think for us, it's definitely both. So we need to make money. You know, we want to be competitive with VC returns and make money for our shareholders and our company. But the strategic piece for us is equally important. So it's sort of a fifty-fifty.”
Time Warner Investments does not invest to pipeline early corporate acquisitions
“So, you know, we're very upfront to say that's not why we're doing this. So we're not making these investments to have an early look at a potential business. Acquisition down the road.”
Goldberg: Bustle is the largest web site for women aged 18-34
“So it's driven our investments in companies like Bustle, which is targeting women, 18 to 34, and they're now the biggest site on the web hitting women, 18 to 34, which is amazing.”
Warner Brothers generates $1.5 billion in top-line gaming revenue
“Warner Brothers has now has around a one and a half billion dollar top line games business, which is amazing.”
Goldberg: Founders should reject special rights like ROFRs from strategic investors
“Ask them if they're going to ask for special rights, like are they asking for a path to control? Are they asking for rights of first offer, rights of first refusal? You don't want to accept any of those things, but those are questions to ask just to make sure.”
Goldberg: Esports will expand into mainstream media in accessible formats
“I do think we will, and I think it'll be, it might look a little bit different, so it may not look as hardcore.”
Time Warner Investments reviews approximately 600 deals annually
“So we look at around 600 ish deals a year.”
Goldberg: Time Warner Investments' initial check size is $3M to $10M
“When we first go into a deal, typically our size is from three to ten million, our first check, but we know we're going to be doing follow-ons”
Goldberg: Time Warner Investments does not invest in seed deals
“In reality, we're not typically going super early. So, we're not Doing seed deals.”
Time Warner Investments typically leads Series B rounds or co-leads Series A
“That's typically what we do. We've also co-led A's, like we could split an A with another financial investor. Do it also, if it makes sense at that stage to bring in a strategic, you know, it depends on where you are, you know, where your company is, even thou…”
Time Warner Investments maintained consistent annual deployment since late 1990s
“We invested sort of the same ish amounts every year, starting from the late nineties before I was there through now.”