If people want to regulate you, you’re the real deal! 🧑⚖️🏛⚖️
With every large innovative company, regulation comes knocking. Think Coinbase, Fanduel, Bird Scooters, and Lemonade. The biggest companies of this generation all faced intense regulatory scrutiny. That's where Tusk Venture Partners comes in! On episode 027 of New to Venture, I sat down with Jordan Nof, Co-founder & General Partner at Tusk Venture Partners to talk about all things VC. This episode is chock-full of helpful tips, valuable lessons, and great stories!
Key Takeaways:
1️⃣ When going to a VC or Tech conference, have a goal in mind! It’s a special opportunity to be around so many talented and relevant people all in one space. Strategize how to make the most of your time there.
2️⃣ Regulation always lags innovation. If you invest in a company that becomes relevant, there will be some form of regulatory scrutiny.
3️⃣ As a fund manager, your job is to stick to the strategy that you laid out to your LPs. LPs are filling out an early stage asset allocation hole when they give money to VC firms. LPs aren’t looking to invest in early stage fund managers who are going to take a bunch of growth stage swings!
4️⃣ Some people aren’t meant to work for large corporations. If you look at the founder world, their risk/reward profile is almost comically unfavorable, but the math isn’t the same when you have the desire to build and create.
5️⃣ If you are in a VC interview, make it crystal clear that you are BOUGHT IN to the firm’s investing strategy. You should be excited to put their strategy to work!
6️⃣ When a VC fund announces their first or final close, it may be an indication that they are hiring. Be on the lookout for these announcements and prepare accordingly.
7️⃣ Actively poke holes in your own investment strategy. A good VC investor is constantly rebuilding, rethinking, and reinventing their views on the future. Be aware of your biases and don’t rely on pattern recognition.
Timestamps:
(00:00) - Introductions
(01:56) - Being on TV!
(04:59) - VC conferences
(11:00) - Jordan’s pivotal career moments
(14:30) - The origins of Tusk Venture Partners
(18:55) - GP and LP interactions
(24:38) - Being ready to start a firm
(27:18) - Recruiting and hiring
(31:46) - Understanding Tusk’s thesis
(35:56) - Highlights and lowlights
(42:55) - Ceremonial final Qs
