Everything Joe Floyd said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Floyd: Multiple co-founders increase the likelihood of premature, smaller startup exits
“Now, the flip side is, and this is something that a lot of people don't think about, from an equity perspective, especially from a returns perspective, having more founders makes the outcome less attractive. It also forces people to take earlier exits, because…”
Floyd in 2015: BMW and Audi will catch up to Tesla
“I think what you're going to wind up having is companies like BMW and Audi are going to catch up. Tesla has kind of that one to two Your lead, and, I mean, you see it with companies, with a car like the i-eight coming out. I mean, other car companies are going…”
Floyd: Venture capital lacks concrete skills and is just connecting people
“The venture job doesn't really have a lot of concrete skills. It is a job, it's a people job. You're effectively going out, meeting people, and connecting people. Those are the two job functions you have.”
Floyd: 2014 VC deployment approached 2000 dot-com bubble levels
“If you just look at valuations, and you look at round sizes, and you look at the sheer dollar amount of money raised by venture capitalists and deployed by venture capitalists in 2014, it's approaching the levels we saw in 2000.”
Floyd: Grads should work in banking, consulting, or big tech before VC
“Taking a job like investment banking, or strategic consulting, or working for a big tech company like Google, will provide you the foundational skills, as well as give you that first toehold of a network.”
Floyd: Emergence Capital primarily backs founders from Salesforce, Facebook, Google, Oracle
“If you look at the entrepreneurs that we fund here at Emergence, you know, primarily a lot of them come out of the same few companies. Salesforce, Facebook, Google, Oracle.”
Floyd: Zenefits won by offering free software monetized via insurance commissions
“And I think Zenefits would be a perfect example of that. You know, they're, they get paid from the commission through the insurance broker, so they can give their software away for free. And no one else figured that out. So they had an automatic leg up.”
Floyd: Data shows startups with multiple co-founders have higher success rates
“I think if you look at the data, multiple founders generally increases the likelihood of a positive outcome.”
Floyd: VCs in initial pitches search for one reason to invest
“In first meetings, As a venture capitalist, you're trying to dream the dream. Like you, the red flags are everywhere. You could, you can find hundreds of reasons not to make an investment. You have what you're looking for. Yeah. What you're looking for is that…”
Floyd: SaaS startups fail on sales and marketing, not product development
“And I feel like for most SAS companies people, people are capable of building great products now on very little money. And so you get a lot of entrepreneurs who are very product focused, who see needs and they're trying to solve them. And then where they fall …”
Floyd in 2015: Amazon is a long-term buy due to undervalued AWS
“Oh, bye. Long term, it's going to be around for a very long time, and I think, I feel like the whole cloud business is completely under undervalued.”
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