Sara Frankel

💡𝗙𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝘁𝗵𝗲 𝗗𝗮𝘁𝗮 𝗶𝘀 𝗱𝘂𝗺𝗯𝗶𝗻𝗴 𝘂𝘀 𝗱𝗼𝘄𝗻 🤖️ As this great deck by Pip Bingemann explains: - 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝗰𝘆 = 𝗠𝗲𝗱𝗶𝗼𝗰𝗿𝗶𝘁𝘆: the fact that we have immediate data on what we do becomes a self-fulling prophecy as everyone does more of the same thing (what the data says is trending) - 𝗪𝗵𝗮𝘁 𝗦𝗵𝗼𝘂𝗹𝗱 𝗯𝗲 𝘃𝘀. 𝗪𝗵𝗮𝘁 𝗶𝘀: we end up with mediocre thinking based on dashboard reporting and no Vision of what should be. 👉 Solution: use data to inform your Vision (not the other way around)

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His career started when someone said to him, “well, have you thought about venture capital? We don’t think that you’d be any good at it.” The rest is history. Today’s Alt Goes Mainstream episode features one of the legends of the venture capital industry. Peter Barris joined New Enterprise Associates (NEA) in 1992 after a storied operating career as President and COO at Legent Corporation and an executive at GE Information Services. He served as Managing General Partner and Chairman of NEA from 1999 to March 2024. Under Peter's leadership, NEA saw tremendous success, growing into one of the world's largest venture capital firms and raising the largest-ever venture capital fund a number of times. Today, NEA's AUM stands over $25B. Peter was responsible for investing in a number of foundational and industry-transforming technology companies, including Salesforce, UUNET, Groupon, WebMD, Workday, CareerBuilder, Tempus AI, and more. We had a fascinating discussion about the early days of venture capital and how the industry has evolved. We covered: * The inside story of how almost every other Partner said no but Peter's investment turned out to be a 75x return. * What's the “best characteristic and the death characteristic” of an entrepreneur? * In today's hypercompetitive market do VCs have enough time to make good decisions? * Why the world of venture capital is about influence. * What does it mean to earn an entrepreneur’s trust as a VC? * Why VCs with operating backgrounds can bring unique value to startups. * How NEA came up with the term "Venture Growth Equity." * How can a VC tell that a founder is good at experimentation and that they have the good judgment? * Why specialization and domain expertise are prerequisites in today’s venture industry. Thanks to Ultimus Fund Solutions for sponsoring this episode of the Alt Goes Mainstream podcast. Thanks Peter for coming on the show. It was an honor and a pleasure to hear your views on the evolution of an industry and for you to share your wisdom and experiences. https://lnkd.in/eEJGEFWe

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From Expertise to Strategy In The Crux, How Leaders Become Strategists, Richard Rumelt, emeritus professor at UCLA Anderson School of Management, highlights a big problem leaders face: Access to expertise doesn't always translate to strategy, especially in complex situations. Rumelt writes: “I had the opportunity to interview then US secretary of defense Donald Rumsfeld in 2004. At that moment, he was trying to deal with a rising insurgency in Iraq. The invasion’s outcome had been expected to be a popular celebration of democracy, not an insurgency. The interview topic was about how the Defense Department managed shifts in spending. Almost as an afterthought, I asked him about his view on strategy or policy creation. His reply remains fascinating. Rumsfeld told me that as defense secretary, he had access to just about any expertise imaginable. “Do you want to know the various tribal histories, languages, customs, and intermarriage situations? We have people who know,” he said. He described the wide variety of expertise on weather patterns in Iraq and internal politics. “Do you want to know who, in Turkey, blocked our access to a northern invasion and why did they do so? We have people who know.… The real problem,” he said, was pulling all of this expertise together into a coherent strategy. Rumsfeld said that “each morsel of expertise came with an agenda attached. It came from a person or group with a perspective, an ax to grind, a budget to manage, a contract to renew, a career to push forward, and so on.” “Professor,” he asked, “have you academics found a way to deal with this issue?” Responding to his question, I thought for a minute and reflected briefly on what was systematically known about the policy process. I told him that I had to admit that our technology for these issues had not much improved from ancient times. I said, “We know a lot about what can go wrong, but very little about how to fix it. Basically, you put a small group of smart people in a room and see what they come up with.” Source: Blog FFI I say this is a classic conundrum businesses face. People sit around tables discussing strategy and plans without actually putting emphasis on fixing a problem or a set of problems which are staring at them! As Thomas Edison put it eloquently “strategy without execution is hallucination”. I am merely taking execution as an alternate for fixing. What are your thoughts?

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Thrilled to announce BBG Ventures second institutional fund – a $60M early-stage fund backing overlooked founders who are building for the Polycultural Future of America. Thanks Emma Hinchliffe at Fortune for sharing the news: https://lnkd.in/gSwqpHpq We’ve spent the last few years observing the passage of the country from a monoculture to one where women were a bigger part of the story, to today - where identity and lived experience matter more than ever. We call this the Polyculture – a new status quo in which America is a mosaic of unique segments; where identity is multivariate and dynamic; and where individuals can identify with multiple communities at once. I began using this term over 2 years ago, as a cross-culture kid myself: the child of Indian immigrants, growing up in rural Australia - and now an immigrant in America. We wondered - how do Americans perceive identity, and how does that drive their most fundamental needs? We conducted research with +2000 Americans across equal cross sections of race, gender, age and income. Here’s what we found: 1. We have surprisingly common priorities, needs and concerns despite our unique identities. 2. The biggest areas of the economy are still on the table, with Americans highlighting huge areas of opportunity in health, work, financial security, climate safety, and the underserved. 3. But we need new, more nuanced-solutions and personalization considering the emerging majority minority generation, an aging population, widening wealth gaps and continued differences along gender lines. To that end, we’ve officially expanded our mandate to embrace this evolution, backing underestimated founders – female or diverse – addressing the biggest pain points for our polycultural population. Read the full report here: The Mind of Polycultural America - https://lnkd.in/gdtiFE7v We’re proud to partner with new LPs including Fairview Capital, Pivotal Ventures, The California Endowment in addition to our many returning partners like Illumen Capital, George Kaiser Family Foundation who believe as we do: when you make change, you make money. If you’re an early-stage founder working to move the world forward in health, work, financial security, climate safety or for the underserved - in B2B or B2C - we want to talk to you. Susan Lyne Claire Biernacki Drew Silverman Fennessy Carol Magalhães Isaacs, CFA Addison B. Marsh, Jr.

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If you believe that #Diversity and #Inclusion matter, specifically in times like this, join us on October 30th. We will discuss the challenges and success stories of promoting Diversity in 2024. With me you will find industry leaders who were able to pull it off (!) 💥💥💥 Dorit Dor, Hasan Abasi, Vered Raviv Schwarz, Gal Shaul Guesty, Augury, HAAT Delivery, Check Point Software Power in Diversity Glilot Capital Partners Poalim Tech, Meitar | Law Offices, ESOP - Phoenix, Microsoft, Calcalist כלכליסט #nomatterwhat

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Lotan Levkowitz of Grove Ventures is a rising star in the VC landscape! He is super intelligent, kind, and very articulate with his words. I really enjoyed talking to him about Deep tech investing, Grove Ventures, and the US elections, among other shenanigans and rhymes. Check out the interview and subscribe to the channel! It is a command, I mean, a request, I mean, do what you bloody want. https://lnkd.in/d6gjSvdQ

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Digital assets are meant to be used. Not hoarded. Not endlessly flipped in pursuit of speculative riches. They’re to be used—for the unique purposes for which they were designed. That’s why Ayre Group is the world’s largest venture capital investor in Metanet apps. What is Metanet? Metanet represents the vision of a better, more inclusive and dynamic internet, an economically integrated online system that enables cost-effective, instant micropayments. Metanet will restore the original promise of a peer-to-peer internet model. Silicon Valley giants hijacked the original internet model by forcing all traffic through their centralized (and proprietary) hubs. Metanet will undo this sabotage. Metanet will bring a global democratization of access to data and services. Creators will be able to engage in an economically feasible direct-to-consumer model—no middlemen—allowing them to succeed on their merits, unconstrained by bureaucracy. Metanet will upend cross-border transactions by eliminating intermediaries. Remittances will be cheaper and more secure, as Metanet’s decentralized nature will enhance trust in digital transactions and offer greater control over personal data. Metanet is the marriage of IPv6, AI and the BSV Blockchain. IPv6 is bringing an exponential rise in the number of IP addresses, with a similar rise in the number of unique devices connected to the internet, including an army of Internet of Things (IoT) devices. All of these devices are talking to each other, many of them autonomously. AI’s assistance will be required as a traffic cop, helping to ensure that all these digital messages arrive where and when they should. The final piece of Metanet’s puzzle is BSV. BSV can process a huge volume of transactions swiftly and securely, at a cost measured in fractions of a cent, allowing the monetization of every piece of online data. BSV is the base value transfer token of the future internet. Developers can build with confidence on BSV. BSV is legally-and regulatory-compliant, with a locked protocol that traces its unbroken lineage to Bitcoin’s Genesis block, so what’s built today won’t be undone by unnecessary protocol tinkering. Metanet’s potential is too great to ignore. Learn more about how AI, IPv6 and BSV—the only public proof-of-work enterprise blockchain that can scale to make Metanet a reality—are building the internet of the future. https://lnkd.in/gxFM_jrW

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Let's finally get rid off the "VC alphabet song" and redo the system to become more founder friendly. "The benchmarks set by funding stages are often arbitrary and not necessarily aligned with the actual development needs of individual startups." #vc #venturecapital #founder #fundraising #startups #fundingstages #funding #fundingrounds #pitchbook

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⛳ Emerging fund managers pulse check. PitchBook tracks over 10,000 funds that are raising money, with 45% being emerging fund managers (defined as firms with less than 3 funds). Despite a dip in available capital—down to 16% from the pre-pandemic 23%—these managers are finding creative ways to stay competitive, like partnering with larger firms. 💼 Joanna Drake (founder turned investor) shared how "wildly different" it is raising a fund versus for a startup. One key datapoint she shared on the fund side was how little feedback you get along the way (and the years you can wait for it). The “long-winded and challenging process to raise capital” inspired Drake and Ben Black to create RAISE Global, a community for emerging fund managers and the “forward-thinking LPs” who back them. (A decade later, several hundred emerging managers with AUM under $200m are on the platform) They've found the newest emerging managers are more diverse and geographically dispersed than Silicon valley, and more were able to crack the ceiling and raise larger $100m funds (although this is still a small % of the market, requiring partnership with larger funds at the late stage). ▶ And not a hugely surprising datapoint: A lot of action is in the sub $49 million range, where roughly 50% of emerging managers are raising. Theresa Sorrentino Hajer, Head of U.S. venture capital research at Cambridge Associates warns that past success isn't actually a strong indicator on it's own to assess emerging managers. We've had a valuation reset. And newer managers with investments during the 2019-2021 "party days", need to build relevant track record and play to their strengths. A lot of emerging managers are specializing (70% who applied for Raise had a thematic focus), and betting on getting in as early as possible in the startup's lifecycle (Raise: 31% at accelerator/ pre-seed stages, and 47% at seed stage). “Emerging managers have to compete on a different dimension,” Nick Moran from New Stack Ventures. You're no longer just dealing with capital. Emerging VC's need to be as innovative and nimble as the startups they invest in, having a unique thesis and insights. They also play a role at the top of the deal-flow funnel: helping larger firms find promising companies, so finding a thesis, sector or philosophy aligned partner at a larger firm is helpful. Onwards! #EmergingManager #Startups #VC

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I was having a chat with my colleagues the other day about our portfolio (we've got a pretty diverse founder group - it's something we actively monitor and are proud of) and general founder dermographics across VC backed companies. One big discussion point that came about - entirely organically with 'tech bros' as an inspiration - was regarding the age of founders across our portfolio (again, we have a great mix) and more generally across lifesciences/healthcare and tech and whether there was a difference in how well they were performing and their success. So.....me being me....I thought i'd do a bit of reading. As an FYI, this topic came up several year ago pre-COVID (I recall a Wharton report as particularly stand-out-ish) and from memory, the general consensus was that 35 - 45 year olds tended to 'perform' better as entrepreneurs. Has it changed over recent times, especially given the COVID driven digital switch? Here's a snippet of what I found (there are unsurprisingly quite a lot of articles...): 👉 A comprehensive study from FounderJar found that a 40-year-old founder is 2.1 times more likely to succeed than a 25-year-old, with the average age of successful founders at 41.5 years. Even more impressive, the average age of those who exit with an IPO or acquisition is 46.5. You can check out the full article here: https://lnkd.in/eGc_3MRB 👉 Business Initiative reports that 50-year-old entrepreneurs are nearly twice as likely to succeed compared to 30-year-olds, apparently due to their experience, financial stability, and developed networks. More on this here: https://lnkd.in/eGawmZmi 👉 And finally, The article from The Conversation challenges the common belief that young people are the most radical innovators, revealing that individuals over 50 are often the more transformative entrepreneurs. The research highlighted in the article indicates that older entrepreneurs possess greater experience, industry knowledge, and networks, which allow them to take a more innovative approach to problem-solving. Link: https://lnkd.in/erjpWRWD Thoughts welcome... #Entrepreneurship #StartupSuccess #ExperienceMatters #AgeIsJustANumber #EarlyStageInvesting

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Have a story to tell... Use Narratize AI Co-Authoring platform to tell your stories in an impactful manner. Katie Trauth Taylor, PhD and the entire team is committed to helping you in becoming amazing storytellers. Check out their impressive work at https://lnkd.in/gnNYHSSX Start telling your stories with Narratize AI as your co-author. #generativeai #storytelling #innovation #aicoauthoring #innovators #researchers #impactstories #startups #problemsolvers #AI #AIStartup

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Interesting piece from Marc Andreessen on how startups are not getting the regulatory support they need to sustain America's technological leadership. "Regulatory agencies have been green lit to use brute force investigations, prosecutions, intimidation, and threats to hobble new industries, such as Blockchain. Regulatory agencies are being green lit in real time to do the same to Artificial Intelligence." While many investors themselves (both in the US and Europe) are worried how AI will change our lives, our jobs and social interactions, the top VC opinion leader thinks regulation is already too restrictive. #techstartups #techleadership #strategicgrowth

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Looking forward to discussing how changing demographics and culture norms are affecting investment opportunities in longevity, health and well-being at The Care Summit today Alongside Cake Ventures' Monique Woodard, Ziegler's Dan Hermann, Oak HC/FT's Billy Deitch and JPMorgan Chase & Co.'s Jennifer Edwards, we’ll dive into the trends shaping how we are investing in the space: - Last year marked one of the most significant social and economic moments in modern times: The number of older adults—those aged 50 and over- surpassed the number of children under the age of 15 for the first time. - In 2020 the 50 plus population contributed $45 trillion to global GDP, or 34% of the total. That equates to about 3x the revenue of the world’s 100 highest- earning companies in 2020. - The U.S. population grew by 24.5 million from 2010 to 2022, and Hispanics accounted for 53% of this increase – a greater share than any other racial or ethnic group. - Women around the world and across all ages drive 64% of consumer spending

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Hey founders, I’ve come to realize that when it comes to raising capital, it’s not just about what you’re building—it’s about how you tell your story. 📖 Investors need to connect with your vision on an emotional level, and that’s where storytelling truly shines. Donna Griffit has put together a fantastic guide on creating investor decks that resonate. 🎯 My 3 key take-aways: ① It’s packed with insights that have helped countless founders turn their pitches into successful funding rounds; ② A compelling story can be your strongest asset when speaking to investors; 💡 ③ It’s not about flash—it’s about making your mission clear and unforgettable. If you’re looking to refine your pitch and better tell your story, I highly recommend checking out Donna’s guide. P.S. I found a lot of value in this guide, and I think you might too. It’s definitely worth a read! 😊 #founders #investors #alwaysbelearning #firstdegree https://lnkd.in/enZDxMnu

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Insightful breakdown from my great Partner Omri Amirav-Drory on the simple factors that really separate the top 1% of investors from the rest, and how more operators should become investors! https://lnkd.in/gEiZdT2h

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Topic - Growth Equity Partner Interview (Edison Partners) - 🔥 Unveiling the Blueprint for Entrepreneurial Success In this power-packed 50-minute episode, I had the privilege of sitting down with Daniel Herscovici, a seasoned Growth Equity Partner at Edison Partners. 🚀 Dan's journey is nothing short of legendary, having left an indelible mark at Motorola with his pivotal role in building and marketing the iconic RAZR handset📱, and also assisting in the dawning of the age of IoT at XFINITY HOME 🏠. But that's just the tip of the iceberg! Tune in as Dan delves deep into the essence of product management, offering invaluable tips and advice gleaned from years of hands-on experience. 💡 From decoding the true meaning of product management to navigating its intricacies, Dan's insights are a masterclass for aspiring PMs. But that's not all! Dan sheds light on a crucial aspect of tech evolution—how groundbreaking technologies are embraced during turbulent times. Drawing parallels from history (Radio during the Great Depression, Cloud post-2008 Financial Crisis), his perspective is both enlightening and prescient. 📡☁️ And that's not where the wisdom ends! Dan's shares some insight from his recent speak at Kelley School of Business - IU which provides a fresh perspective on cultivating entrepreneurial acumen. 🎓 Plus, he unveils his framework for assembling a winning startup team, drawing inspiration from Angela Duckworth's seminal work "Grit". Ready to supercharge your entrepreneurial journey? Don't miss this riveting conversation with Dan Herscovici on The Exponential Edge Podcast! 💼✨ #StartupSuccess #ProductManagement #TechInnovation #EntrepreneurialInsights Youtube - https://lnkd.in/eJfnpDUY Spotify - https://lnkd.in/ezkG99Cm Apple Podcasts -

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Excited to announce that we recently joined GALY's oversubscribed $33M Series B round through Brinc's AngelList Syndicate. We’re in excellent company alongside top co-investors like Breakthrough Energy Ventures, H&M Group, and Inditex, with additional backing from returning investors such as Material Impact, John Doerr's Family Office, and Artesian (Alternative Investments). Luciano Bueno and his team are revolutionizing the cultivation of cotton and other crops by employing cellular agriculture, a method that is ethical, sustainable, and a step towards climate resilience. Their process replicates the quality of traditional cotton while using 99% less water, 97% less land, and generating 77% less CO2. Learn more: https://lnkd.in/dJpPWTGB Join our syndicate and check out our latest deals here: https://lnkd.in/dj6WJRSz #venturecapital #brinc

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As we’ve begun building Oversubscribed Ventures, we’ve learned that the world of venture capital is way too mysterious and insular. We wanted to crack it wide open and make it accessible to everyone. So, we launched a new podcast, with Phil Schwarz. Some of you may already listen to our World’s First Podcast (and if you do, thank you!). The Oversubscribed Podcast takes a lot of what makes World’s First Podcast great and focuses on the business world. This is a business podcast for anyone and everyone who is curious about stories of success, failure, recovering from rejection, pivoting, and more. Why launch a new podcast? - The lessons that come out of talking to founders, executives, etc can apply to everyone, whether they’re starting a company or not; - We could add something to the (way too few but super impressive) female voices in the startup and venture world; and - We could inject our own personality and - admittedly - often inappropriate humor into the conversations (iykyk). We hope our Oversubscribed Podcast does all of this and more. Link below, and of course you can find it anywhere you can listen to podcasts. More to come! Link: https://lnkd.in/e2E6kynn

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