In the 20 Minutes VC podcast, host Harry Stebbing interviews Bob Gura, Managing Director at Columbus Nova Technology Partners, who shares his journey from corporate lawyer to VC, emphasizing the importance of being a company builder and the role of pattern recognition in investing. Gura, who worked closely with tech luminaries like Mark Andreessen and Ben Horowitz, believes that a big market and an executable team are crucial for startup success. He also discusses the potential of Uber and the tech valuation bubble, while predicting healthcare as the sector for the first trillion-dollar company. Gura's book recommendations include "The Power of Habit" and "Zero to One," and he advises aspiring VCs to be persistent and leverage their networks.
"Bob is currently managing director at Columbus Nova Technology Partners, and over the past 15 years, Bob has really helped build some of the world's best technology companies."
The quote introduces Bob Gura as a significant figure in the technology sector, highlighting his role and experience in building top technology companies.
"So yeah, I started out my career originally as a corporate lawyer and worked at a couple of different law firms in the mid-nineties. And in the late nineties, I teamed up with a group of entrepreneurs, including Mark Andreessen and Ben Horowitz."
The quote explains Bob's professional beginnings and his pivot from law to collaborating with renowned entrepreneurs, setting the stage for his entry into venture capital.
"But really I'm a company builder and that to me is just phenomenal training to be an investor because you've sort of been there, done that from an operational point of view and over time you develop a significant amount of pattern recognition in multiple disciplines."
This quote emphasizes Bob's broad experience and the value he places on being a company builder as preparation for a successful venture capital career.
"Yeah, I think so. I mean, at the end of the day, the very best entrepreneurs, in my view, are the ones that are solving a problem and creating a business around that solution and have personal experience and passion for that problem."
Bob argues that solving real-world problems and having a personal connection to the issue are key traits of successful entrepreneurs.
"Success is important"
This brief quote encapsulates the podcast's emphasis on the theme of success within the venture capital and entrepreneurial landscape.
"I mean, there's. If I had to pick one, I'd say Travis Kalanick at Uber." "He's kind of the quintessential disruptor. He has built an incredible business in a very relatively short period of time. Call it five."
Bob Gura highlights Travis Kalanick as a paradigm of success due to his disruptive impact on the transportation industry and rapid business growth.
"No, absolutely. If you look at sort of comparable companies over time, they'll stay core to sort of what got them there." "I think that there's absolutely an opportunity for that company to get into adjacent market spaces."
Bob Gura is optimistic about Uber's future, suggesting it will maintain its foundational business while also exploring new opportunities in logistics and data application.
"I think it's still a little early." "I think the developer community is strong and I think it's a really viable platform."
Bob Gura provides his impression of Google Glass, indicating it's in early stages but has strong support from developers and potential for growth.
"First is a really big market." "The second is a team that can execute."
Bob Gura outlines the primary must-haves for his investment strategy: a large market potential and a competent execution team.
"Well, I think that the macro kind of informs the micro, but at the end of the day, I think I agree with Peter that you got to start somewhere." "And it's important, again, to have a core strategy and focus."
Bob Gura concurs with Peter Thiel's philosophy on the importance of a focused starting point in business strategy, with macro insights guiding the micro execution.
"Here in Silicon Valley, we see incredible entrepreneurs every single day and pitches that blow." "We had a team in yesterday, actually, that is sort of the preeminent experts that have built multibillion dollar businesses in aviation."
Bob Gura expresses excitement about the high caliber of entrepreneurial pitches in Silicon Valley, specifically mentioning a notable pitch from aviation experts.
"It's the depth of experience and understanding expertise in the market."
This quote emphasizes the importance of an entrepreneur's market expertise and how it can significantly impact an investor's perception.
"One of the unique advantages the valley has is that the ecosystem is so developed and so broad, you've basically got everything that you need to build a great technology company, all within a 25 miles radius."
The quote highlights the benefits of Silicon Valley's dense and developed ecosystem for tech startups, suggesting it has all the necessary resources in close proximity.
"I'm going to go with two books. One is the power of habit by Charles Duhigg... And then I recently read zero to one by Peter Thiel and thought it."
This quote showcases two books that the speaker found particularly impactful for entrepreneurs, highlighting their relevance to business and personal development.
"Some of his positions are controversial... monopolies are what ultimately, you know, Google is a."
This quote points to the controversial nature of Thiel's opinions, particularly regarding the value of monopolies in the tech industry, and suggests that such perspectives can offer valuable insights.
"Know, the best piece of advice that I ever got w"
This incomplete quote suggests that the speaker was about to share valuable advice for those looking to enter the venture capital industry, but the transcript ends before the advice is provided.
And his response literally was, make it happen.
This quote underscores the importance of taking initiative and creating your own opportunities in business.
Failure is a part of the game, but you got to maintain your focus and your drive, and you just got to go after it.
Bob Gura highlights the necessity of resilience and the relentless pursuit of goals despite setbacks.
But at the end of the day, you need to be targeted. You need to work your network, et cetera, et cetera, and don't give up.
Bob Gura advises on the importance of a focused approach and the value of networking in the venture capital job search.
Well, there is definitely, in my opinion, humble opinion, a bubble in valuations.
Bob Gura expresses his view that there is currently an inflated sense of worth in the tech industry, particularly regarding late-stage company valuations.
I think it's going to be in healthcare.
Bob Gura predicts healthcare will be the sector to produce the first trillion-dollar company due to the universal need for health solutions and government support.
I hope to have you on the show again soon.
Harry Sebbing closes the interview with Bob Gura, expressing appreciation for the insights shared and looking forward to future conversations.