Origins - Inside Venture Capital, Hosted by a GP and an LP

Finding Founders Who Will Change the World with Wesley Chan

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Nov 13, 2024

Wesley Chan, co-founder of FPV Ventures and former Chief of Staff to Sergey Brin at Google, shares his remarkable journey in Silicon Valley. He reflects on his mantra that if you're not changing the world, you're wasting your time. Wesley discusses the importance of high standards in innovation and his philosophy on seeking founders with 100-year plans. He emphasizes fostering long-term impact over short-term gains and the significance of trust in the venture capital-founder dynamic. His insights illuminate what it takes to craft timeless ventures.

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INSIGHT

Prove Yourself Right

Founders driven by proving themselves right, not others wrong, create lasting value.
They focus on improving the world, not fighting against it.

ADVICE

Timing is Key

Focus on founders with 100-year plans and impeccable timing.
Timing matters more than long-term vision.

ADVICE

Assess the Timing

When evaluating investments, assess the timing by asking "Why now?".
Founders who understand timing have clarity on market tailwinds and their vision.

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Wesley Chan is a true legend in Silicon Valley. He spent time at Microsoft and HP, and in 2002 he jumped to Google. There, he worked as Sergey Brin’s Chief of Staff and founded Google Analytics and Google Voice - all before then founding and leading the seed investing program at Google Ventures as GP. Under his tenure, GV was the first institutional check into companies like Plaid, Gusto, Lucid, and Robinhood. Wesley sits down with Nick Chirls, GP at Asylum Ventures, and Beezer Clarkson, LP at Sapphire Partners, to discuss his investment philosophy and what motivates him. Wesley discusses his early days at Google being pushed to make products that change the world, finding founders who have a 100-year plan, and being driven not by the desire to prove other people wrong, but to prove himself right.

Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

Learn more about FPV Ventures: https://fpvventures.com

Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.

CHAPTERS:

0:00 Introduction & the Burning Question

3:11 Working for Sergey Brin: “If you’re not changing the world, you’re wasting your time.”

9:22 They're not there to screw the world, they're there to improve the world.

15:07 I'm not a university or your tuition money. We're giving you a check to go win.

17:05 Knowing just enough to be dangerous

27:58 The Exit Market: No one wants to test the market. LPs, hang on.

33:07 FPV’s take on AI

34:09 Founder success is the gift that keeps on giving

Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠

Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.