Sramana Mitra: One of the things that I’d like to point out is we work with people at a very early stage. It’s not always viable to start with your own product. This is where the parallel with the department retail business comes in. If you look at the P&L’s of department stores like Macy’s or Bloomingdale’s, they sell other people’s brands. Then in the basics category, they sell their own brand. I have been in this business, so I know this inside out. This is how a lot of people start – acquiring customers and then building their own brand.
In the Internet, there’s a company that’s doing a good job at this. That’s Nasty Gal. They started as an eBay seller. She was selling sassy vintage clothing. She started doing that on eBay. Now, she’s doing her own brand.
Sramana Mitra: It sounds like one of the strategies your firm is following is analyzing a macro trend and making multiple bets on that industry.
Warren Weiss: We’re trying to go deep in certain areas. We see this is a decade of the CMOs and so CMOs will spend more time to automate a business. We hear a lot about Big Data. It’s really about big results, not Big Data and so things like marketing technologies and financial services are two spaces that we’re primarily interested in diving very deep on. >>>
Sramana Mitra: But there are two or three different trends that need to be parsed within that one. Is there is a job loss phenomenon that is going to happen in the white-collar because of the IT industry, which is one of the biggest growth drivers in India for a while now. As the IT services model is coming to a head, where does that labor pool go? I wonder if that labor pool could be absorbed within the SMB sector, which would give a huge boost to the SMB sector. >>>
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Tod Francis was recorded in September 2014.
Tod Francis, Managing Director at Shasta Ventures, starts with a discussion on the history of retail, all the way from shoe stores, to departmental stores, and back to specialty retail. This is followed by a similar overview of the history of e-commerce ranging from Amazon’s strategy to how specialty retail is translating into niche e-commerce, and how Tod is looking at investments in the category.
Sramana Mitra: I think the best question to start out with would be what do you see has happened to the e-commerce business since the 90’s? >>>
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Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Warren Weiss was recorded in April 2017.
Warren Weiss, General Partner at Foundation Capital, has a long track record in the Silicon Valley venture capital industry. He shares areas that he and Foundation are excited about as opportunities for building future Unicorns.
Sramana Mitra: Let’s start with your overview and synthesis of what you feel right now about the industry, about ventures, and about how to build these unicorn companies. What have you learned? What have you seen? What are you thinking about opportunities for future unicorns? >>>
Throughout Latin America, the number of online buyers and ecommerce sales are expected to continue to increase significantly over the next few years. While Latin America consists of more than 20 countries, the region is dominated by six key markets – Argentina, Brazil, Chile, Colombia, Mexico, and Peru. Stretching from the northern border of Mexico to the southern tip of South America, including the Caribbean, a number of startup hubs have emerged within these key markets. All good news for entrepreneurs.
Several investors focused on the Latin America startup scene shared their perspectives and discussed the trends in the market with me. If you are an entrepreneur with an interest in the region, you will gain an insider’s view by listening to these three 30-minute podcast interviews.
Sramana Mitra: Let’s do a couple of things. I’d like to understand what you have invested in that is interesting and reflective of how you think. Then we’ll also talk about the trends that you see in your deal flow. Let’s first start with your portfolio.
Mohit Gulati: A lot of people don’t have multiple ideologies with regards to investing. I have a simple ideology. We’re a country of 1.46 billion. I see us facing a massive job loss crisis in the coming years, so my core philosophy and ideology of investing has been job creation. >>>