{"id":12959,"date":"2020-10-02T18:23:06","date_gmt":"2020-10-02T18:23:06","guid":{"rendered":"https:\/\/fabricegrinda.com\/?p=12959"},"modified":"2022-03-20T07:25:43","modified_gmt":"2022-03-20T07:25:43","slug":"playing-with-unicorns-episode-3-how-vcs-evaluate-startups","status":"publish","type":"post","link":"https:\/\/grinda.org\/vi\/playing-with-unicorns-episode-3-how-vcs-evaluate-startups\/","title":{"rendered":"Episode 3: How VCs evaluate startups"},"content":{"rendered":"\n<p>In the first episode I covered how and when to fundraise. In this episode, I describe how venture capitalists (VCs) evaluate you once you are in front of them to help you refine your approach and pitch.<\/p>\n\n\n\n<p>I explain how VCs use a combination of the team, business, deal terms and whether the idea fits with their thesis to decide whether to invest or not. I also detail:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>What are unit economics<\/li><li>Expected traction and valuation at various stages<\/li><li>That venture capital follows a power law<\/li><li>How various VCs weigh the different investment criteria based on whether they are playing \u201cPowerball\u201d vs \u201cMoneyball\u201d<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Episode 3: How VCs Evaluate Startups\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/ZHUNyMiJhxs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>For your reference I am including the slides I used during the episode.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2.jpg\" alt=\"\" class=\"wp-image-14571\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2.jpg 2111w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2-2048x1152.jpg 2048w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/FJ-Labs-Investment-Heuristics-2-1320x742.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide2.jpg\" alt=\"\" class=\"wp-image-12981\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide2.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide2-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide2-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide2-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide2-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide3.jpg\" alt=\"\" class=\"wp-image-12982\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide3.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide3-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide3-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide3-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide3-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide4.jpg\" alt=\"\" class=\"wp-image-12983\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide4.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide4-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide4-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide4-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide4-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide5.jpg\" alt=\"\" class=\"wp-image-12984\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide5.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide5-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide5-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide5-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide5-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide6.jpg\" alt=\"\" class=\"wp-image-12985\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide6.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide6-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide6-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide6-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide6-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide7.jpg\" alt=\"\" class=\"wp-image-12986\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide7.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide7-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide7-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide7-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide7-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2020\/10\/slide8.jpg\" alt=\"\" class=\"wp-image-12987\" width=\"960\" height=\"540\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide8.jpg 1920w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide8-768x432.jpg 768w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide8-1536x864.jpg 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide8-1200x675.jpg 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2020\/10\/slide8-1320x743.jpg 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure><\/div>\n\n\n\n<p>If you prefer, you can listen to the episode in the embedded podcast player.<\/p>\n\n\n\n<figure><iframe loading=\"lazy\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/16249001\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/000000\/\" height=\"90\" width=\"100%\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe><figure>\n\n\n\n<p>In addition to the above Youtube video and embedded podcast player, you can also listen to the podcast on:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>iTunes:&nbsp;<a href=\"https:\/\/podcasts.apple.com\/podcast\/id1532336635?i=1000493372741\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/podcasts.apple.com\/podcast\/id1532336635?i=1000493372741<\/a><\/li><li>Spotify:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/open.spotify.com\/episode\/2utEWoTYn1k6VooKQmdj0M\" target=\"_blank\">https:\/\/open.spotify.com\/episode\/2utEWoTYn1k6VooKQmdj0M<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>In the first episode I covered how and when to fundraise. In this episode, I describe how venture capitalists (VCs) evaluate you once you are in front of them to &hellip; <a href=\"\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":18488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-12959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-playing-with-unicorns"],"acf":[],"contentUpdated":"Episode 3: How VCs evaluate startups. Categories - Playing with Unicorns. Date-Posted - 2020-10-02T18:23:06 . \n In the first episode I covered how and when to fundraise. In this episode, I describe how venture capitalists (VCs) evaluate you once you are in front of them to help you refine your approach and pitch.\n I explain how VCs use a combination of the team, business, deal terms and whether the idea fits with their thesis to decide whether to invest or not. I also detail:\n What are unit economicsExpected traction and valuation at various stagesThat venture capital follows a power lawHow various VCs weigh the different investment criteria based on whether they are playing \u201cPowerball\u201d vs \u201cMoneyball\u201d\n For your reference I am including the slides I used during the episode.\n If you prefer, you can listen to the episode in the embedded podcast player.\n In addition to the above Youtube video and embedded podcast player, you can also listen to the podcast on:\n iTunes:&nbsp;https:\/\/podcasts.apple.com\/podcast\/id1532336635?i=1000493372741Spotify:&nbsp;https:\/\/open.spotify.com\/episode\/2utEWoTYn1k6VooKQmdj0M\n ","Category":["Playing with Unicorns"],"_links":{"self":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/12959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/comments?post=12959"}],"version-history":[{"count":33,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/12959\/revisions"}],"predecessor-version":[{"id":19787,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/12959\/revisions\/19787"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/media\/18488"}],"wp:attachment":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/media?parent=12959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/categories?post=12959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/tags?post=12959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}