Greymatter
Greymatter
Nov 24, 2020
Jerry Chen | The Evolution of Cloud
Play • 12 min
This is the audio version of "The Evolution of Cloud," written by Greylock general partner Jerry Chen and read by Greylock marketing partner Elisa Schreiber. The essay is available to read at https://greylock.com/jerry-chen-the-evolution-of-cloud/
Wharton FinTech Podcast
Wharton FinTech Podcast
Wharton Fintech Podcast
Fractional Trading 101 with Apex Chief Product Officer Dustin Kirkland
What happens after you hit “buy” on that $300 order of Shopify stock (worth over $1,100 as of the day of the episode)? Fractional trading has become one of the hottest product features in Fintech, democratizing access to expensive shares (AMZN, BRK-A, CMG, etc.) to everyday investors. In addition, they allow more precise and comfortable investing and budgeting, as people can designate a notional dollar amount toward a purchase. But how exactly do you buy .3 of a share? Enter Apex Clearing, a PEAK6 company, one of the most innovative and digital-first clearing and custody platforms in the world. Apex powers the fractional capabilities of many companies you may use today, including Stash, M1 Finance, broker-dealers, major banks, and RIAs. They also powered Robinhood up until recently. In today’s episode, Ryan Zauk sits down with Apex’s Chief Product Officer, Dustin Kirkland, to learn about: - Dustin’s unusual path to FinTech (2:00) - What Apex does (8:00) - What is clearing & custody (9:00) - Clearing & Market Making (11:00) - The nuts & bolts of Fractional Trading (15:00) - Crypto trading and how it will disrupt equities (20:18) - And a rapid-fire round including the best Austin BBQ and some shared love for the Grateful Dead For more insights and analysis from FinTech leaders, follow us below: Medium: medium.com/wharton-fintech WFT Twitter: twitter.com/whartonfintech Ryan's Twitter: twitter.com/RyanZauk LinkedIn: www.linkedin.com/company/wharton-fintech-club/ Facebook: www.facebook.com/whartonfintech/ Instagram: www.instagram.com/whartonfintech/ Apex Clearing is a custody and clearing engine that’s powering the future of digital wealth management. Our proprietary enterprise-grade technology delivers speed, efficiency and flexibility to firms ranging from innovative start-ups to blue-chip brands focused on transformation to capture a new generation of investors. We help our clients provide the seamless digital experiences today’s consumers expect with the throughput and scalability needed by fast-growing, high-volume financial services businesses. Founded in 2012, Apex Clearing is registered with the SEC, a member of FINRA and a Participant in SIPC.
36 min
In Depth
In Depth
First Round
Plaid & Dropbox’s Jean-Denis Grèze’s playbook for building an engineering culture of ownership
Today’s episode is with Jean-Denis Grèze, Head of Engineering at Plaid, which securely connects your bank to your apps. Before joining Plaid, Jean-Denis served as Director of Engineering at Dropbox, and even had a stint in law school and one year as a lawyer under his belt before diving deep into the world of CS. While he says becoming a lawyer was a “four-year detour he probably didn’t need,” there’s a lot to be said for how it’s shaped his engineering career and management philosophy. As he puts it, he strongly favors pragmatism over perfection, and it’s something he hammers home within his engineering teams. In today’s conversation, Jean-Denis pulls on threads from across his career to weave together a modern playbook for engineering leadership — and the hard-won lessons that stick with him. He also shares his insights on why his engineering org doesn’t have titles, the one question he asks every engineering manager candidate, and how his team prioritizes technical debt and keeping the lights on versus sexy, brand-new projects. Today’s conversation is a must-listen for technical leaders or those who are eyeing the engineering leadership track. From motivating a team to tracking the right KPIs, Jean-Denis has got tons of great tactics and stories from his time at Plaid and Dropbox for you to learn from. You can email us questions directly at review@firstround.com or follow us on Twitter @twitter.com/firstround and @twitter.com/brettberson
57 min
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Harry Stebbings
20VC: Etsy CEO, Josh Silverman on 2 Defining Traits of Great Leadership, The Danger of Attaching Happiness To Milestones, How To Structure Teams To Optimise for Experimentation and Agility &Whether You Learn More From Success Than Failure
Josh Silverman is the CEO @ Etsy, leading the company as it builds a platform that empowers creative entrepreneurs around the world. Prior to their IPO, Etsy raised funding from some of the best in the business including Danny Rimer @ Index, Albert Wenger @ USV and Jim Breyer @ Accel to name a few. Prior to Etsy, Josh served as President of Consumer Products and Services at American Express, was the CEO of Skype, and CEO of shopping.com, and he held various executive roles at eBay. Josh is also currently on the board of directors of Shake Shack. In Today’s Episode You Will Learn: 1.) How Josh made his entry into the world of startups, came to be CEO of Skype and how he came to be CEO of Etsy? How did Josh's political background prepare him for being a public markets CEO? 2.) How does Josh think about 10 year plans? What is the right alternative? What does Josh do when he does not know what to do? How does Josh think about head vs heart in decision-making? How does Josh think about downside protection and risk mitigation with decisions? 3.) Why does Josh believe that you should, "never let a crisis go to waste"? How does he interpret that? Does Josh believe you learn more from success than failure? Why does Josh believe many succeed in spite of, not because of? How does Josh connote happiness to a milestone of success? What is true happiness for Josh? 4.) How does Josh think about winning today? What is the framework Josh believes founders need to put in place to optimise their chance of winning? How does Josh structure his team at Etsy to optimise for speed and experimentation? What has worked? What has not worked? 5.) How can leaders create a system where failure is minimised? How does Josh implement a "red hat vs green hat" decision making process around new ideas at Etsy? What question does Josh and the team ask with every experiment? How should one analyse the cost of rolling back a decision? 6.) How does Josh determine between dogma and good practice in a company? What is the right way to remove antiquated dogma without damaging morale? What were some of the biggest challenges from his doing this on entry at Etsy? Item’s Mentioned In Today’s Episode Josh’s Favourite Book: Grant As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
45 min
The Tech Talks Daily Podcast
The Tech Talks Daily Podcast
Neil C. Hughes
1470: Hughes Network Systems - Connecting the Unconnected
As the world continues to cope and battle with COVID-19, the Internet has become a lifeline for billions of people to work, learn, access critical information, and stay connected with friends and family. According to United Nations estimates, only 53.6% of the global population has Internet access. Some reports indicate that nearly 42 million Americans still lack broadband internet in rural areas. As a result of the pandemic, countries worldwide are compelled to reckon with the repercussions of a digital divide within their borders, and many are accelerating efforts to connect the unconnected. However, the digital divide is a complicated issue, and it is essential to distinguish the lack of land-based connectivity from there being no internet connectivity available at all. With growing innovations and a lot of buzz around space recently, satellite technology prevails as the only fast, affordable, and sustainable solution that can address the glaring connectivity deficit the pandemic has illuminated. Mark Wymer from Hughes Network Systems joins me on the podcast to talk about the technologies that are helping to connect the unconnected worldwide (e.g., cellular backhaul, community wi-fi). We also discuss the evolving/emerging satellite technologies that help create a ubiquitous network, including how 5G, LEO, MEO, and GEO satellites will work together to achieve multi-path connectivity. Hughes Network Systems is the global leader in broadband satellite technology and services for home and office. Its flagship high-speed satellite Internet service is HughesNet®, the world’s largest satellite network with over 1.5 million residential and business customers across the Americas. For large enterprises and governments, the company’s HughesON™ managed network services provide complete connectivity solutions employing an optimized mix of satellite and terrestrial technologies. The JUPITER™ System is the world’s most widely deployed High-Throughput Satellite (HTS) platform, operating on more than 40 satellites by leading service providers, delivering a wide range of broadband enterprise, mobility, and cellular backhaul applications. To date, Hughes has shipped more than 7 million terminals of all types to customers in over 100 countries, representing approximately 50 percent market share. Its technology is powering broadband services to aircraft around the world.
21 min
Evolving for the Next Billion by GGV Capital
Evolving for the Next Billion by GGV Capital
GGV Capital
Becoming Shopify | Evolving eCommerce ep.1
Today on the show, we have Harley Finkelstein, the President of Shopify. Shopify is a leading global e-commerce company, providing trusted tools to start, grow, market and manage a retail business of any size. Headquartered in Ottawa, Canada, Shopify powers over 1 million businesses and more than 175 countries and is trusted by brands such as AllBirds, GymSharks, PepsiCo, Staples, and many more. Harley has been with the company since 2010. Prior to his current role, Harley founded numerous startups and ecommerce companies. He is currently an advisor to Felicis Ventures. Harley holds a Bachelor degree in Economics from Concordia University and a J.D./M.B.A. joint degree in Law and Business from the University of Ottawa. This episode is co-hosted by GGV colleague Robin Li. Based in New York, Robin invests in eCommerce, social, consumer internet, and digital economy. For the full transcript of the show, go to nextbn.ggvc.com Join our listeners' community, go to nextbn.ggvc.com/community Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or assets are for illustrative purposes only; such references do not constitute any recommendation to either buy or sell such securities or assets and are not intended to serve as the basis for any investment decision, nor do they constitute an offer to provide investment advisory services. Any information provided by third parties in this content does not reflect the views of GGV Capital and its subsidiaries or affiliates. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon, when making a decision to invest in any fund managed by GGV Capital. Any investment or portfolio company mentioned, referred to, or described is not representative of all investments in vehicles managed by GGV Capital, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results.
49 min
Acquired
Acquired
Ben Gilbert and David Rosenthal
Bitcoin
We had to do it. After 12 years and 3,000,000x appreciation, we kick off Season 8 with the best investment of all-time and our biggest episode ever: Bitcoin. From the first bitcoin transaction of 10k for two Papa John's pizzas (worth about $350m today!!) to $40k+ BTC and maybe the moon beyond, we cover the whole crazy, improbable journey of how a single 8-page PDF document changed the world of money — and perhaps the world itself — forever. If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors. We can't wait to see you there. Join here at: https://acquired.fm/lp/ Sponsors: * Thanks to Tiny for being our presenting sponsor for all of Acquired Season 8. Tiny is building the "Berkshire Hathaway of the internet" — if you own a wonderful internet business that you want to sell, or know someone who does, you should get in touch with them. Unlike traditional buyers, they commit to quick, simple diligence, a 30-day or less process, and will leave your business to do its thing for the long term. You can learn more about Tiny here: http://bit.ly/acquiredtiny * Thank you as well to Vouch and to Capchase. You can learn more about them at: * http://bit.ly/acquiredvouch * http://bit.ly/acquiredcapchase The Bitcoin Playbook: (also available on our website at https://www.acquired.fm/episodes/bitcoin ) 1. Technological paradigm shifts are ideal opportunities for attacking incumbents. * The traditional finance system worked fantastically well for 500 years, but it wasn't built for the internet. The fact that sharing your bank account or credit card number is required in order to transact, but there's no really robust way to protect against fraud when doing so, provided the perfect seam for a new entrant. Bitcoin and its creators saw this shortcoming and created a new form of money that worked like email. 2. In the early days of a network-effect system, usage matters more than use-cases. * Because the value of a network grows as a function of Metcalfe's Law (value = # of engaged participants squared), in the early days simply growing the number of engaged participants matters more than the specifics of what those participants are actually doing. As the network's value grows, it will become attractive to successively more groups of users and use cases. * Bitcoin started as the domain of researchers and fringe libertarians, then illicit transactions (Silk Road), then speculation (the ICO boom) before finally reaching adoption by the mainstream investment community. Each wave built enough monetary value in the network to make it attractive to the next set of users. Similarly Facebook went from sharing photos of attractive undergrads to how billions communicate, and Airbnb went from ratty airbeds to ~10x larger than any hotel chain, all within a few short years. 3. Distributing network value out to its participants creates large incentives for adoption. * Rewarding miners with bitcoin itself created a huge incentive for participants to join and stay in the Bitcoin network. Although this dynamic got a bad rap during the ICO bubble when it was overused and overpromised by grifters and scammers, it remains a powerful strategy and will likely be used more going forward. * Perhaps most excitingly, this incentive unlocks massive new potential for open-source software development: people who work on open-source software (or provide other functions) can now receive direct value for their contributions, without being employed in any traditional sense. 4. Just HODL, baby. (aka let your winners run) * You can get rich quickly by getting in early on a winning investment. But you can only get really rich by holding a compounding asset for an extended period of time. Sequoia learned this lesson painfully with its Apple investment in the 1970's: selling its entire position for just a ~$6m profit within a few years. Similarly, anyone who bought 1,000 bitcoin for $10 a piece in 2012 could have sold them for $1m four years later in 2016. But four years on from that, they're now worth $35 million. If you continue to believe Bitcoin has a bright longterm future (which, to be fair, you may not!), what could they be worth in 2024? 5. We're only just realizing the implications of digital scarcity. * For its entire existence before Bitcoin, computing and the internet was all about turning scarcity into abundance. (via infinitely replicable + easily distributable software and other digital goods) For the first time in history, Bitcoin and its underlying blockchain have introduced the opposite: scarce, non-replicable digital assets. Native digital currency (Bitcoin) and smart contracts (Ethereum) are the first big outcomes of this advancement, but there may be many more seismic shifts to come. Links: * Satoshi's Whitepaper: https://www.bitcoin.com/bitcoin.pdf * Matt Huang's "Bitcoin for the Open-Minded Skeptic": https://www.paradigm.xyz/Bitcoin_For_The_Open_Minded_Skeptic.pdf * Nellie Bowles's "Everyone Is Getting Hilariously Rich and You’re Not": https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html * Square’s $50m investment in BTC: https://images.ctfassets.net/2d5q1td6cyxq/5sXNrlEh2mEnTvvhgtYOm2/737bcfdc15e2a1c3cbd9b9451710ce54/Square_Inc._Bitcoin_Investment_Whitepaper.pdf Episode Sources: * Full list of episode sources available here: https://docs.google.com/document/d/16QCDNm2qzG3Bn5h1j1KXisxL_JGT7egDx7czX9ThHLY/edit?usp=sharing
3 hr 12 min
Recession-Proof Startups - Mixergy
Recession-Proof Startups - Mixergy
Andrew Warner
#2033 Answering a major question for first-time founders
I have to be honest, I was very skeptical as I went through the site today’s guest created. But I I was impressed with it I thought, “I should have come out with this idea!” It’s so simple, so brilliant, So elegant. My guest, Bobby Peddi, realized that one of the big questions that many people have when they’re starting a business is: how should Ieven structure my business? Do I even need an LLC? Do I need to incorporate? Should it just be a partnership? He answered those questions as simply as he could with HowtoStartanLLC.com. That led to Truic, The Really Useful Information Company. I want to find out how he did it. Nagabhushanam “Bobby” Peddi is Founder and CEO of Truic which offers free tools and guides to start a business, including How to Start an LLC. Sponsored by Gusto – Gusto’s people platform helps businesses like yours onboard, pay, insure, and support your hardworking team. Payroll, benefits, and more. Their customizable onboarding checklists were built to keep you organized. Gusto offers employee benefits made to fit your budget. If you’re not sure where to start, Gusto’s licensed advisors can help you choose the right health benefits for your team. HostGator – Ready to take your website to the next level? Whether you’re a first-time blogger or an experienced web pro, HostGator has all the tools you need to create a great-looking website or online store. A wide range of options includes cloud-based web hosting, reseller hosting, VPS hosting and dedicated servers. Founded in 2002, HostGator is the perfect web partner for business owners and individuals seeking hands-on support. Visit www.hostgator.com/mixergy to see what HostGator can do for your website. More interviews -> https://mixergy.com/moreint Rate this interview -> https://mixergy.com/rateint
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