The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Postmates Founder Basti Lehmann on How the Uber Deal Went Down and How a $2.65BN Deal Turned into $5BN, Why Great VCs Add No Value and VC Value Add is BS Marketing & Why The Biggest Companies in History Will be Born Today and Replace Incumbents
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Apr 8, 2024 Basti Lehmann, co-founder and former CEO of Postmates, shares his journey from a US immigrant to leading a billion-dollar company. He discusses the intricacies of Postmates' $2.65BN acquisition by Uber, revealing valuable negotiation tactics. Basti critiques the venture capital industry, claiming that most VCs offer little true value and stressing the importance of educating investors. He also predicts that the biggest companies are emerging today, questioning whether incumbents can withstand the rise of new startups and innovations in AI.
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VC Groupthink
- Basti Lehmann criticizes VCs for following trends and groupthink.
- He believes that the VC industry is full of sheep, with only a few having original insights.
VC Value Add
- Basti Lehmann argues that the best VCs add little value beyond funding.
- VC "value add" is a marketing tool to attract talent and LPs.
Educating Investors
- Founders should avoid investors who require extensive education about their market.
- Focus on investors who already understand and believe in the vision.