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#215June 16, 20211:05:07

#191 with Mike Maples - 4 Big Trends and $0 to $1 Billion Startu…

About This Episode

Sam and Shaan interview legendary venture capitalist Mike Maples of Floodgate, known for early investments in Twitter, Lyft, and Twitch. They discuss the transition from 'office culture' to 'cloud culture,' the power of forcing a choice over a comparison, and how to identify massive technological inflections.

Episode Description

Shaan (@ShaanVP) and Sam (@TheSamParr) talk with seed VC Mike Maples (@m2jr). Mike is a co-founding Partner at Floodgate. He has been on the Forbes Midas List eight times in the last decade due to notable investments like Twitter, Twitch, Lyft, and Okta. In this episode he talks about the four big trends he is excited about, the types of companies he likes to invest in, and why a startup isn’t a company. He shares a few of the mental models he uses at Floodgate to evaluate startups and shares the thoughts behind some of his unique turns of phrase. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. ---------

Show Notes

  • * (1:02) – Debrief of the episode
  • * (6:37) - Intro to Mike Maples
  • * (9:02) - How Mike thinks about the next big thing
  • * (11:00) – The 4 inflections Mike is excited about
  • * (13:51) – Cloud Offices
  • * (19:33) – A brief history of centralization & decentralization
  • * (22:48) – Examples of software defined companies
  • * (26:14) – A practical way to prepare for the future
  • * (30:23) – How Mike thinks about investing in startups
  • * (33:07) – Startup investing mental models
  • * (37:39) – Mike’s take on "1 to n" businesses
  • * (42:36) – Mike on Balaji
  • * (47:11) – Mike on media companies
  • * (49:49) – Force a choice, not a comparison
  • * (54:46) – Mike’s information diet
  • * (57:40) – Contact info & future topics

Key Takeaways

1

Identify 'inflections' like blockchain or cloud-native work that allow startups to wage asymmetric warfare against established incumbents.

2

Force a 'choice' rather than a 'comparison' by positioning your product as something fundamentally different (an apple) rather than just a better version of an existing product (a 5X better banana).

3

Embrace the 'jazz band' model for early-stage startups, which prioritizes improvisation and individual riffs over the rigid 'marching band' structure of traditional corporations.

Guest Graveyard Mentions

RH

Reid Hoffman

NR

Naval Ravikant

CS

Chris Sacca

MC

Mark Cuban

AR

Andy Radcliffe

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Quick Stats

Duration1:05:07
Guests1
Ideas Discussed0
Topics4