Dave McClure-Founding Partner, 500 Startups-TWiST #328

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There wasn't a big enough swear jar! Live from RockSpace, Jason talks with Dave McClure of 500 Startups. Dave opens up about his initial investments, the SEC and diversity in funding startups.

Read the full transcript

2:00 Welcome to Twist Live 3
3:30 Dave McClure Bio & Background
3:50 Was the Facebook fund part of Founder's Fund?
5:30 What has AngelList done so well?
6:00 The Dave McClure Swear Jar
7:30 Were VCs upset about AngelList?
11:00 Do you think crowdfunding amongst accredited investor could have an impact in the space?
12:30 Dave's advice to potential angel investors
13:30 Are consumer Internet companies completely random?
14:00 When you're picking these companies, have you found a pattern?
17:00 With your investing strategy what do you plan on for exits?
19:40 What do you think about the mobile space?
22:00 Are we widening the funnel too much for early stage startups?
24:00 Are you looking for people who have had a few swings at the bat?
24:45 Do you feel more like an entrepreneur than a VC?
26:20 How is international an opportunity?
28:00 Thank you to SquareSpace. Use the coupon code Twist2 to save 10%.
29:00 Thank you to ShareFile! Use the coupon code Twist for a 30-day free trial.
30:30 What is your thesis on women?
31:40 Is your perception that diversity is increasing in Silicon Valley?
33:00 Do you think there's any bias in a similarly credentialed male & female entrepreneur?
35:30 How stressful is it to be a founder? Is it getting more stressful?
36:40 What are your thoughts on the late Jody Sherman?
38:40 How do you identify the stressed-out founders?
41:10 Can you show weakness to your team?
42:30 How did PayPal make it through all of the hard times?
43:30 Do you think Facebook will ever take over Google?
45:00 Could Google solve their lack of social media be solved by buying Twitter?
45:30 What would YouTube be worth if it was a stand-alone company?
48:30 What are the signals you look for when meeting with an entrepreneur?
50:30 Why Dave got excited about Farmeron.
52:05 What do you guys typically invest?
53:00 Dave and Jason discuss valuation.
54:40 Have things calmed back down in regards to valuation at YC?
55:20 Is investing in 500 startups a milestone for you?
60:30 What are your thoughts on crowdfunding for unaccredited investors?
65:00 Do you still take referrals now that you require applying through AngelList?
69:30 When does persistance turn into being annoying?
73:30 What do you fear/what keeps you up at night?
76:00 What is your international strategy?
79:00 What advice would you give to late bloomers?
80:20 Dave talks about being fired from Mint & Simply Hired.
87:20 What is the most important thing about immigration that could be fixed?
93:00 How do you recommend a technical person to find a product oriented co-founder?

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Full Transcript

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Special thanks to the members of the TWiST Backchannel Program!

Executive Producers

• Louis-Eric Simard
• Benjamin Gifford
• Jacek Artymiak
• Octavian Mihai
• Will Paoletto
• Geoffrey Clapp
• Jeff Hoffer
• Austin Miller
• Rashaun Sourles
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• Mary Ann Halford
• Jim Joyce
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• Margaret Johns
• Kyle M. Brown
• Paul Cole
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• Joshua Shipsey

Producers

• Eli Coler
• Ted Inoue
• Radek Rybicki
• Hunter Owens
• Ildar Khakimov
• Matti Hallanoro
• Rodrigo Dauster
• Rodrigo Fuentes
• Anthony Ortenzi
• Daniel de la Cruz
• Michael Hofmann
• John Meneses
• Mike Sunyich
• Sami Rageb
• Michael Lustig
• Alex Deli
• John Davies
• Mark Burcher
• Morgan Howard
• Jeffrey Yan

Associate Producers

• Brad Pineau
• Kat Ganesan
• Nicholas Christian
• Mau Frontier
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• JD
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• Rick Cartwright
• Jacques Struwig
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• Jim Shute

Supporters

• Ryan Hoover
• Michael Cranston
• Josiah Thomas
• João Fernandes
• Petrus Theron
• Michael Wild
• Dale Emmons
• Tim de Jardine
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