首页  >>  来自播客: This Week in Startups 更新   反馈  

This Week in Startups - Why Sam Lessin is using the VC model to invest in individuals + Jason funds a startup on air | E1328

发布时间:2021-11-18 01:09:31   原节目
好的,以下是对您提供的视频稿本的总结,字数约为500-600字: 本期节目包含两个部分。第一部分的主角是Slow Ventures的Sam Lesson,他探讨了其直接投资个人的创新方法,特别是内容创作者和企业家。他解释说,传统的风险投资通常侧重于投资公司,而他的模式则转变为支持个人及其未来潜力,无论他们从事的具体业务是什么。他认为,许多创作者在推出传统产品之前就建立强大的个人品牌和社群,这使他们成为直接投资的理想人选。 Lesson的方法包括提供前期资金,以换取该个人未来收益的一定百分比,期限通常为30年。他重点介绍了一项与YouTube创作者Marina McGill Co.的合作,他投资了170万美元,以换取她在30年内收益的5%。他认为,这种模式可以让创作者更有效地发展业务,而无需仅仅依赖赞助或单个项目的现金流。 他还回应了批评,特别是指责这种模式类似于“契约奴役”。Lesson强烈驳斥了这种说法,强调他的投资不会控制创作者的工作或决策。他认为这是一种长期利益的协调,Slow Ventures在创作者成功时获益,并为创作者提供资金以承担风险和扩展他们的事业。他认为经济方面的批评在于,这种模式很难进行回溯测试,因为它没有历史先例,也没有下游生态系统可以出售。 Lesson将他的模式与收入分成协议(ISA)进行对比,指出ISA通常对回报有上限,从而导致总体成本更高。他的方法具有无限的上涨空间,因此可以为创作者提供潜在的更低的资本成本。他还讨论了该投资理论的企业家方面,即投资于一个名为Lieberman的家庭,并预先支付了他们一笔款项。 谈话还涉及了当前早期风险投资的状况,一些投资者将高估值作为一种营销手段。Lesson认为,随着种子轮估值的上升,聪明的投资者需要寻找资本化程度较低的领域的机会。最后,Lesson提到了Slow Ventures如何将其公共股份分配给其有限合伙人(LP)以及分配Solana持股的一些技术方面。 第二部分是Jason Calacanis采访其Founder University项目的参与者Christopher Niblet,最终Calacanis投资了Niblet的创业公司Bisley。Founder University被描述为一个为期12周的项目,被设计为“预加速器”,为有抱负的企业家提供基础技能。 Niblet分享了他在该项目中获得的积极体验,他指出内容、网络和教育都非常有价值,使其成为“初创企业的迷你MBA”。然后,他介绍了他的商业想法:Bisley,一个旨在成为“小型企业Patreon”的平台,客户可以订阅当地商家,以获得独家优惠,例如折扣价格或优先服务。 Calacanis对这个想法非常热情,赞扬了它在建立忠诚度和为当地企业创造经常性收入方面的潜力。Niblet解释说,他们目前正在与当地企业进行沟通和合作,并致力于让资金通过他们的平台流动。 Calacanis对Niblet的想法印象深刻,因此提出以2.5万美元的价格购买该公司1%的股权,通过可转换票据将其估值为250万美元。Niblet在直播中接受了这份报价,做出了一个自发的投资决定。Calacanis还提供了一些产品创意,例如独家“创始人会员”级别和优先参加热门活动,以及提供简单的短信和电子邮件,因为公众不喜欢下载太多应用程序。

Okay, here's a summarization of the video transcript you provided, aiming for the 500-600 word range: The episode features two segments. The first features Sam Lesson of Slow Ventures, discussing his innovative approach to investing directly in individuals, specifically content creators and entrepreneurs. He explains that traditional venture capital often focuses on investing in companies, but his model shifts to backing individuals and their future potential, regardless of the specific business they might pursue. He argues that many creators build strong personal brands and communities before launching traditional products, making them ideal candidates for direct investment. Lesson's approach involves providing upfront capital in exchange for a percentage of the individual's future earnings over a long period, typically 30 years. He highlights a specific deal with YouTube creator Marina McGill Co., where he invested $1.7 million for 5% of her earnings over 30 years. This model, he believes, allows creators to grow their businesses more efficiently than relying solely on cash flow from sponsorships or individual projects. He addresses criticism, particularly the accusation that this model is akin to "indentured servitude." Lesson strongly refutes this, emphasizing that his investment comes with no control over the creator's work or decisions. He sees it as an alignment of long-term interests, where Slow Ventures benefits if the creator succeeds and provides capital for the creator to take risks and expand their ventures. He argues that the economic criticism is that the model is hard to backtest because there's no history of doing it, and there's no downstream ecosystem to sell into. Lesson contrasts his model with Income Sharing Agreements (ISAs), noting that ISAs often have caps on returns, making them more expensive overall. His approach, with uncapped upside, allows for a potentially lower cost of capital for creators. He also discusses an entrepreneurial side of this investment thesis, investing in a family called the Lieberman's, giving them a check up front. The conversation touches upon the current state of early-stage venture capital, with sky-high valuations being used as a marketing expense from those investors. Lesson suggests that as seed valuations rise, smart investors need to seek out opportunities in less capitalized areas. In closing, Lesson touches on some technical aspects of how Slow Ventures could distribute public shares to its LPs, and distributing Solana holdings. The second segment features Jason Calacanis interviewing Christopher Niblet, a participant in his Founder University program, and culminates in Calacanis investing in Niblet's startup, Bisley. Founder University is described as a 12-week program designed as a "pre-accelerator," providing foundational skills for aspiring entrepreneurs. Niblet shares his positive experience with the program, noting that the content, networking, and education have been valuable, making it a "mini MBA in startups." He then presents his business idea: Bisley, a platform designed to be "Patreon for small businesses," where customers can subscribe to local establishments for exclusive benefits, such as discounted pricing or priority service. Calacanis is enthusiastic about the idea, praising its potential for building loyalty and generating recurring revenue for local businesses. Niblet explains they are currently speaking to, and partnering with local establishments, and aiming to have money flowing through their platform. Impressed by Niblet's idea, Calacanis offers him $25,000 for 1% equity in the company, valuing it at $2.5 million via a convertible note. Niblet accepts the offer on air, marking a spontaneous investment decision. Calacanis also provides product ideas, such as exclusive "founder member" tiers and priority access to popular events, and also giving easy SMS and email, since the public does not like downloading so many apps.