The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Twitter's Most Controversial VC Delian Asparouhov on Inside the Walls of Founders Fund: What the World Does Not See | Why Western Europe Will Be Like the Third World | Why SaaS as an Industry Might Be Dead

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Jul 29, 2024

Delian Asparouhov, a Partner at Founders Fund and co-founder of Varda Space Industries, dives into the unseen realities of venture capital. He challenges the notion that Western Europe won’t see struggles akin to third-world nations. Delian also critiques current venture practices, predicting major shifts in the industry and discussing why SaaS may be on the decline. Listeners gain insights on the essential qualities for emerging VCs and why the right founding team can make or break a startup's success.

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INSIGHT

VC Specialization

Junior VCs should focus on excelling in one area of VC rather than being mediocre at all, based on Sarah Tavel's framework.
Asparouhov focused on frontier tech and aerospace, becoming the go-to person for space deals and leveraging his network to help portfolio companies.

ANECDOTE

Missed Investment

Asparouhov missed a significant investment in Sword Health by not building internal consensus at Founders Fund before approaching Peter Thiel.
He learned to prioritize internal buy-in, especially from critical voices, before seeking approval from senior partners.

INSIGHT

Founders Fund Culture

Founders Fund's small team fosters strong personal relationships, leading to a collaborative culture.
This close-knit structure allows for deeper collaboration and smoother deal-making, even when there's internal disagreement.

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Delian Asparouhov is a Partner at Founders Fund and Co-Founder and President of Varda Space Industries, which is building the world's first space factories. At Founders Fund Delian has led deals in the likes of Ramp ($7BN) and Sword Health ($3BN) among others. Before joining Founders Fund, he was a Principal at Khosla Ventures, Head of Growth at Teespring, and Founder of a healthcare company called Nightingale.

In Today's Episode with Delian Asparouhov We Discuss:

1. Venture Capital: Winners, Losers and Everyone Else:

Who are the Top 3 venture firms in the world today according to Delian?
Why does Delian believe that Benchmark are not the firm they were?
Who will be the winners in venture in the next 10 years?
Who will be the losers in venture in the next 10 years?

2. Inside Founders Fund: What No One Sees:

What are the most important and impactful elements of Founders Fund that no one knows about?
What does Delian believe that the Founders Fund partnership will strongly disagree with him on?
Why does Founders Fund believe the path of most resistance is the best way to make decisions?
What single topic has Delian publicly disagreed with Peter Thiel on most? How did it go?

3. What Every Young VC Needs to Know:

What are Delian's single biggest tips to young VCs looking to scale the VC ladder today?
What are the five core pillars of venture according to Delian? What should young VCs focus on?
Why does Delian disagree with Founders Fund partners that "the best founders do not need the help of their VCs?"
Does Delian agree with Vinod Khosla that "90% of VCs do detract value?"
What are the biggest ways that Delian believes VCs can and do detract value?

4. Europe Will Be Third World, Parenting and Marriage:

Why does Delian believe that Western Europe will become like the third world?
What are Delian's single biggest tips on finding a life partner?
What have been the biggest changes to Delian since becoming a father?
What question does no one ask Delian that someone should ask him?