Sramana Mitra: One last question, which is another trend. I would say it’s less visible. We are in 2017. Lots of stuff have already been built. Especially if you’re B2B investors, there aren’t that many wide open opportunities out there nowadays. Building another Salesforce.com is not that easy. There are many niche opportunities. Some of
Sramana Mitra: Concur is one of the best examples of replacing paper. That has built a very valuable company. It went public on its own. It made the shift from being a license software company to a cloud company as a public company which is very difficult to do. It did very well as a
Sramana Mitra: VC firms are raising huge amounts of capital. The management fees are so big. They don’t really need to deliver any returns. They are just sitting and becoming fat with fat management fees. Nitin Pachisia: To your earlier question about the trend in the VC industry, you have to decide as a VC
Sramana Mitra: SaaS continues to be bigger because there is a lot more software adoption happening all over the world. Last week, we had a session that was focused on what’s happening on the Indian cloud market, which is a very active market right now. There’s a company called Greytip that has built up quite
Sramana Mitra: If you have to make 500 micro-VC funds productive, there needs to be some of these segmentation and clear definition. Otherwise, nobody will find anybody. It’s going to be constantly hit or miss, or it’s going to be very inefficient. The information flow needs to get much more efficient. To your point that
Sramana Mitra: Am I hearing that when you look back on EchoSign, you feel that you sold too early? Jason Lemkin: I think it was a lucrative and fair financial transaction. What I didn’t realize until I got into Adobe is that the team would accelerate after that. I didn’t realize that the team was
Sramana Mitra: What about the vehicle? Are you doing equity investments or convertible notes? Nitin Pachisia: It’s a mix. We like to do more equity and less convertibles but we work with the founders on whatever is the best solution for them is. Our preference is to do equity and we encourage founders, even for
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Jason Lemkin was recorded in October 2014. Jason Lemkin, prior to becoming a VC, was the CEO of EchoSign, a digital signature SaaS vendor that Adobe acquired some years back. This was an excellent