What I knew before visiting Greylock Partners:
Intro and Expectations
Having previously been at Jeff Markowitz’s home earlier in the week, I had a general idea of what to expect from Greylock Investments. This was a venture capitalist firm whose job it was to fund prospective companies that they feel may be on the verge of big things in Silicon Valley. I had never done much research into the venture capitalist world, so I was intrigued at the opportunity to get more exposure into this world.
Visit
Markowitz sat us down in a meeting room where so many young CEOs have been before. It was in this room where Airbnb was pitched, where Instagram was bought, and where Facebook was funded. Markowitz explained to us the various experiences he’s had, and what qualities they look for when funding start-ups.
Markowitz told us that a deep, detailed knowledge of their field was the number one quality they looked for in prospective CEOs. For example, Airbnb CEO Brian Chesky, long before Airbnb was a huge success story, came into the Greylock offices for his pitch. One of Lefkowitz’s colleagues proceeded to grill Chesky on the main points of his pitch, asking him about every little detail and intricacy that could arrive in his business. Chesky answered each one of these questions directly and deeply, impressing Greylock immensely. For venture capitalists, it was not always about the marketplace, but the vision of the company leaders, for the vision will yield success.
Markowitz had many other stories as well, from his colleagues literally chasing down companies in the parking lot with an offer sheet to the funding and ultimate selling of Instagram in a mere week’s time. This all goes to show the roller coaster existence of being a venture capitalist, where the big hits can sustain a company for years and the big misses can haunt you forever.
Post Visit Actions
I connected with Markowitz on LinkedIn and researched some more companies Greylock has invested in. Greylock, I also learned, is contemplating funding Spotify as a potential future move, which could be a big get for them if successful. For venture capitalists, it is important that their money is being spent on something that will impact future customers. Understanding how society and the current trends in business are operating is essential when doling out of millions of dollars.
Key Takeaways
- Greylock has invested in a number of hugely successful start-ups, from Facebook to Airbnb
- Markowitz, our presenter, had hosted us for a dinner at his home in Los Gatos. During the dinner, he told us that life as a venture capitalist can be very challenging, for each decision could be a multi-billion dollar one
Intro and Expectations
Having previously been at Jeff Markowitz’s home earlier in the week, I had a general idea of what to expect from Greylock Investments. This was a venture capitalist firm whose job it was to fund prospective companies that they feel may be on the verge of big things in Silicon Valley. I had never done much research into the venture capitalist world, so I was intrigued at the opportunity to get more exposure into this world.
Visit
Markowitz sat us down in a meeting room where so many young CEOs have been before. It was in this room where Airbnb was pitched, where Instagram was bought, and where Facebook was funded. Markowitz explained to us the various experiences he’s had, and what qualities they look for when funding start-ups.
Markowitz told us that a deep, detailed knowledge of their field was the number one quality they looked for in prospective CEOs. For example, Airbnb CEO Brian Chesky, long before Airbnb was a huge success story, came into the Greylock offices for his pitch. One of Lefkowitz’s colleagues proceeded to grill Chesky on the main points of his pitch, asking him about every little detail and intricacy that could arrive in his business. Chesky answered each one of these questions directly and deeply, impressing Greylock immensely. For venture capitalists, it was not always about the marketplace, but the vision of the company leaders, for the vision will yield success.
Markowitz had many other stories as well, from his colleagues literally chasing down companies in the parking lot with an offer sheet to the funding and ultimate selling of Instagram in a mere week’s time. This all goes to show the roller coaster existence of being a venture capitalist, where the big hits can sustain a company for years and the big misses can haunt you forever.
Post Visit Actions
I connected with Markowitz on LinkedIn and researched some more companies Greylock has invested in. Greylock, I also learned, is contemplating funding Spotify as a potential future move, which could be a big get for them if successful. For venture capitalists, it is important that their money is being spent on something that will impact future customers. Understanding how society and the current trends in business are operating is essential when doling out of millions of dollars.
Key Takeaways
- The best venture capitalists don’t bite on the product, they bite on the vision
- The most successful start-ups are the ones headed by someone with intense knowledge of their subject.
- Always look for what the next best trend is