Yet Another (ex-)VC Blog

Cloud computing, entrepreneurship, and venture capital

I’m doing an ask-me-anything style interview on Yabbly

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I’m doing an ask-me-anything style Q&A on Yabbly.com. You can check it out (and participate) at this link.

Written by John Gannon

April 22, 2014 at 1:46 pm

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Controlled Baseball

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The secret is being able to play this way when you need to, but being brave enough to leap when it’s least expected. Just like your career.

via Seth’s Blog: Kanri Yakyu.

Written by John Gannon

April 7, 2014 at 11:44 am

Posted in Uncategorized

When the legends respond

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…it makes you want to stay in their Tribe.

Because they really are just like you, aren’t they?

legends-2-img

Thanks, Seth, for (yet again) showing me how it’s done.

 

Written by John Gannon

March 29, 2014 at 3:03 pm

Posted in Uncategorized

What’s next? Why Inbox data will fuel the next wave of email innovation

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In the last few years we’ve seen lots of innovation in the email world. We now have transactional email APIsdynamic ads within email, and completely customized experiences at email open time. And more. But what’s next? Where are the big opportunities for email innovation over the next several years? My bet is on the Inbox. Read why at my post on OnlyInfluencers.com

Written by John Gannon

March 27, 2014 at 12:30 pm

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The Search For The Next Platform

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So for the next few years I have no idea how long this search for what’s next will go on, a game to be playing is building a platform that can plausibly be the next big thing. It’s a risky game. But the payoff can be large. And you can even start by crowdfunding your first round. Man I love this business.

via The Search For The Next Platform – AVC.

Written by John Gannon

March 26, 2014 at 1:44 pm

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Josh vs. Chamath on the value of MBA founders

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So when Chamath, who is a good friend and a great investor, says: “”I would bet a large amount of money that the overwhelming majority of us [venture capitalists] would not look favorably on a company started by one of you [Harvard MBAs].” – I’ll just throw out that the door is open at Matrix.

via In Defense of MBAs | Josh Hannah.

Written by John Gannon

February 12, 2014 at 3:31 pm

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Questions from a PhD who wants to work in VC

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Subscribers from my VC Careers email list (you can subscribe from this page) often email me asking for advice about how to get their first VC job. Below is one such email from a PhD student who is hoping to work in VC. I’ve responded to his questions below in bold.

Hello John,

Following your suggestion, I have recently had an informational intervew/conversation with a managing partner of a VC firm. The overall feedback is good, I felt that he is happy with my qualifications (PhD in —-, and currently working in a —-). Now I have two questions emerged after this conversation, and I think your insights would be very much appreciated on them:

1) The partner said that his firm only hires junior members as analyst/intern who works for them on a hourly basis. He even shared with me the salary that they are paying which is really an intern salary.

My question is: in your book and on your website, you repetively emphasize entering VC is hard, once you are in, you are in. I am really interested in and passionate about a career in VC, but is it worthy for me to enter VC as an analyst/intern, receiving hourly salary ( abandoning a consultant salary and not to mention no additional benefit with an hourly pay such as pension and health insurance etc)?

I wouldn’t create financial stress for yourself in order to break into the VC business.

A VC firm with >$50MM AUM should be able to pay you a salary that will at the very least pay your bills, and even smaller firms will offer basic benefits like health insurance. For example, the firm where I worked ($160MM AUM) had 3 junior professionals and 2 full time partners and we had a great health insurance plan.

Here’s an alternative for you: Have you thought about taking on part time or project based work with the firm? This way you’d gain experience, they’d get the benefit of your services, and you wouldn’t have give up your day job (and salary). One of my friends took this route with a US firm and ended up getting hired (at a livable salary) after a few months of hourly work.

If you want to go the part time / project route, be proactive and propose a project that would dovetail nicely with the firm’s interest areas and your experience. Even if they don’t like the project idea, it will help start a conversation that will hopefully end up with you doing some work for the firm.

Last, I’d leave compensation discussions until the end – when you know they’d like to bring you on board. Talking about compensation during informational interviews will get you sidetracked and take the firm’s focus off of what you can contribute.

You can politely deflect compensation questions in a couple of ways:

  • State that you’d want to be paid similarly to your peer group at other funds of similar size OR
  • State that you’d prefer to discuss compensation later in the interview process once you have a better sense of the job requirements and the particulars of the firm.

2) Secondly, he suggested I could go for a secondary captial firm (secondary buy-out / directs), as he described they are having a booming business right now in life science session. Are you familiar with this kind of VCs? and any difference in the job-hunting tactics with such VCs?

I think the networking tactics (some of which I have outlined in my VC Careers and job hunting eBook) would be quite similar. However, I’m not sure how secondaries firms source and analyze investment opportunities. I’m sure the day-to-day is quite different than what you might see at an early stage VC firm. You’d probably want to do some informational interviews with people with secondaries experience before making a decision if that line of work is for you or not.

If you liked this post, and are interested in careers in venture capital, think about subscribing to my mailing list. I promise not to spam you and will only send information related to venture capital jobs and careers. Please input your email address in the field (and click ‘Submit’) below if you would like to subscribe.

Written by John Gannon

December 29, 2013 at 9:36 pm

Posted in Uncategorized

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