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Sh*t VCs Say with Jason Lemkin and Justin Kan
On this episode of the Traction podcast, host Lloyed Lobo of Boast.AI welcomes Jason Lemkin, Founder at SaaStr, and Justin Kan, Co-Founder at Fractal.is.
Justin co-founded Kiko Software, a Web 2.0 calendar that pre-dated Google Calendar by four years; Justin.tv, a lifecasting platform; Twitch, a live streaming platform for esports, music, and other creatives that was acquired by Amazon for almost $1 billion. More recent roles include Partner and GM at Y Combinator and CEO of Atrium, a software-powered law firm for startups. He is now a general partner at Goat Capital as well as his work at Fractal.
Jason co-founded NanoGram Devices: nanotechnology to dramatically enhance the performance of power sources for implantable medical devices, which was acquired for $50 million just 13 months after founding; EchoSign, the web's most popular electronic signature service which was acquired by Adobe; and now SaaStr, the world's largest SaaS community and $70+ million SaaS venture fund.
In this session, they'll share “sage advice” that VCs give startups and deconstruct the biases.
Specifically, they discuss:
2:10 - A warm intro to investors - what if you don't have one?
3:37 - The type of cold emails to write
5:20 - Why now is the best time ever to raise money
8:45 - Giving up control of a company
10:59 - The biggest issue that founders face
13:09 - The consequence of having no accountability
14:55 - How many investors till it's considered to be too many
19:38 - Big funds writing small checks
23:37 - Why you should update your investors regularly
Learn more at https://tractionconf.io
Connect with Jason Lemkin: https://www.linkedin.com/in/jasonmlemkin/
Learn more about SaaStr at https://www.saastr.com/
Connect with Justin Kan: https://www.linkedin.com/in/justinkan/
Learn more about Fractal.is at https://www.fractal.is/
This episode is brought to you by:
Each year the U.S. and Canadian governments provide more than $20 billion in R&D tax credits and innovation incentives to fund businesses, but the application process is cumbersome, prone to costly audits, and receiving
Published on 3 years, 8 months ago