Everything Roseanne Wincek said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Wincek: First-time fund managers must rigorously qualify whether prospective LPs can allocate
“I think the thing that we learned that we probably took too long to learn, and I wish we had learned sooner, was just around, like, qualification. There's a lot of people who will take a meeting that can't invest in a fund one, or never have, or structurally t…”
Wincek: Shotgun venture rounds fail to create long-term value
“I don't think that shotgun marriage venture rounds are tried and true recipe for long-term value creation.”
Wincek: Outsourced VC agency models fail because startups need internal expertise
“I'm not a big believer in the outsource kind of agency model of let us do everything for you because these companies need to build this expertise internally”
Wincek: Late-stage VCs are bad at pricing future vision
“Late stage investors, frankly, are kind of bad at giving entrepreneurs credit for what could be. They see that as upside, but really they're very good at understanding what is working and how additional capital or how additional executives or how slight change…”
Wincek: Venture capital now has more capital than good companies
“Today I think we have more capital than there are good companies.”
Wincek: Proprietary distribution channels enable startups to scale unfairly
“Get your product into the hands of consumers that you own, that's proprietary to you, and that's relatively inexpensive to kind of the market rate is how you can actually scale unfairly against your competitors.”
Wincek: Snap broke out without ever buying Facebook app install ads
“They never bought Facebook ads or, like, Facebook app installs to get there, but instead, they had this really viral product and a proprietary channel, which was actually a pretty old-school channel, right? Word of mouth.”
Wincek: Many venture capital firms struggle at their core with generational transfer
“Because we see so many venture firms today just struggling at their core with generational transfer.”
Wincek: Deep Customer Issues Are Fatal, Operational Scarcity Is Fixable
“Things that end up being fatal are deep customer issues. Often when you look at companies at an early stage, marketing is not efficient. CAC might be low, but it's because it's against a small number, and those are your, you know, most excited users, and can t…”
Wincek: Billion-dollar venture funds face strict minimum check sizes
“If you are investing out of a billion dollar fund, you have a minimum check size that you need to hit in order to make each deal worth it.”
Wincek: Available compensation benchmark data is entirely backward-looking
“And there's a lot of data that's around today, but frankly, like all of that data is backwards looking. It's not real time.”
Wincek: Every startup compensation decision sets an enduring precedent
“Everything you do here, you have to realize you're going to have to do again. And so a lot of it is about how do you set up a system that you feel is generous and fair and aggressive and lets you get what you want from a talent perspective, but at the same tim…”
Wincek: Startups under 50 people struggle to hire top talent leaders
“Companies at this stage have like a structural disadvantage in hiring senior people talent. Because the truth is, is when you're 20, 30, 40 people, like being ahead of people is not that interesting of a job because you're also running HR and setting up system…”
Roseanne Wincek: Venture capital is the academia of technology
“I really feel like venture is kind of the academia of tech, right? We kind of create all these mental models for how we think the world works, and we go, we do experiments to test whether or not they're real”
Wincek: Early-stage VC returns rely on a one-third fund-returner rule
“Early-stage investors, at the early stage, you really think, like, about a third of your companies are going to go to zero, a third of your companies are going to return their capital, and a third of your companies are going to return your fund.”
Wincek: Early-stage investors without complete failures aren't taking enough risk
“If you're not, if things are going to zero, and you're a seed or an early-stage investor, you're not taking enough risk, right?”
Wincek: Top enterprise and consumer startups share fundamental growth dynamics
“The best enterprise companies and the best consumer companies, they really look quite similar underneath the covers.”
Wincek: Almost every venture-backed startup uses Looker for analytics
“I don't know a venture-backed startup that doesn't use Looker for analytics because everybody knows that, like, that's one of the first things that you buy.”
Wincek: Online Education Should Return to Direct Master-to-Apprentice Learning
“I think a lot of early attempts at online education are taking, you know, universities and schools and academia and putting them online. But really the beauty of the internet is that we can actually go back to first principles and think about how does learning…”
Wincek: Facebook shut down apps because developers monetized before Facebook
“Facebook, a shut everybody down because everybody was making money on their platform and they weren't.”
Wincek: Renegade targets supercritical companies with 20 to 100 employees
“Our mission at Renegade is to be the best firm in the world at identifying companies that are about to go through through this inflection point in their growth that we call the super critical stage and help them outperform through that. So super critical stage…”
Wincek: Renegade Partners evaluates its market predictions using Brier scores
“We do a lot of forecasting and calculated Breyer scores around like what are short, medium term endpoints that we can try to forecast and see how good we actually are at reading the market and measuring the market.”
Roseanne Wincek engages startups 18 months before investing
“Honestly, like for the most part, I'm spending time with companies. 18 months before we want to invest in them.”