Sramana Mitra: How do you parse unicorn mania? Mackey Craven: By unicorn mania, do you mean the number of companies that have billion-dollar plus valuations that are still private? Sramana Mitra: A lot of things. There’s unicorn mania in that there’s so much capital. There is a rush to fund these later stage companies and
Sramana Mitra: There’s another dynamic, which is a lot of these seed stage investors who are working in the very early stages are exiting into those kinds of mega rounds that come in Series B and C. That is a very healthy trend because I think these two segments are different. It could take a
Sramana Mitra: You’ve been investing for a while. Let’s look at your 2017 deal flow. Give us some flavor of what trends you are seeing. How many deals do you see in a year? How many do you invest in? What are the highlights of the trends in that deal flow? Let’s just focus on
Sramana Mitra: It also gives you a flavor of how good a product it is. Is the product really meeting the needs of the customers? I think churn is a very good indicator of that. Mackey Craven: Coming back again, it really doesn’t have to do with revenue scale. It has to do with validating