Next Legacy Perspectives

Next Play has many athletes as members of our unique community. Usually their story adds up. Where and how they grew up makes their path to stardom in football or basketball seem plausible. Such is not the case with Blaine Scully. How does a multi-sport star in California high school sports go on to become one of the United States' most decorated rugby stars ever? And, no, rugby was not one of his sports in high school. In this episode of Next Play Perspectives, Blaine takes us on his journey to finding the game of rugby and shows us how nichier sports like this in America tend to draw participants with an intrinsic love of the game. Blaine's rugby journey took him all over the globe. He is now in the first inning of his second career, starting a family, and exploring where his next intrinsic passions lie.

Greg Sands, founder and managing partner of Costanoa Ventures and early Netscape product leader, shares stories from Silicon Valley and family life. He discusses the REMUS decision framework, building a values-forward firm and ops team, and why platform businesses, space and DeFi capture his attention today. Short, candid conversations on motivation, teamwork and how values shape investing.

Eric has worked at IVP for over decade. In that time, he has risen to be one of the true alpha generators of this storied VC firm that has a 43.1% IRR over their 39 year history and tens of billions in cumulative assets under management. Eric and Ryan cover a wide range of topics. No softball questions in this one: is tech in another bubble? How does IVP sustain returns even as their fund sizes continue to get bigger and bigger? That last question, in particular, creates dialogue about investment selection, how VCs in general and IVP specifically try to add value to the companies they support, and even the true definition of expertise (and how experts make it look so easy that it allures us mere mortals into underestimating how hard some tasks may truly be). Lots of wisdom to unpack in this conversation. Tune in.

Morgan has packed a lot into her young career. After spending her "first inning" at Andreessen Horowitz, Morgan went on to join Medium and then help launch Libra at Facebook. This deep dive into the crypto world has now become a fulcrum for a good deal of her investment focus in her role as the newest partner at NƒX Ventures. Morgan has a unique vantage point on where hype meets real substance in the crypto world because she was leading the largest effort in that domain at one of the largest, and arguably the most powerful, companies in the world. Hear her describe the challenges of being entrepreneurial inside a big company, why "the regulators can become the product managers," and yet, despite that, why and how huge tech companies can still incentivize innovation and motivate great teams in unique ways. This episode is a great listen for anyone wanting to learn more about crypto. Is it real? What use cases will drive mass adoption? Morgan has strong opinions on all of this.

A must-listen for athletes and founders, this week's podcast delves into the sports and professional career of Angela Ruggiero. SIL is part research organization, part branding agency, and part software company, helping companies and sports properties to better understand their fans. Angela sits at the helm of SIL, a company she created after seeing a gap in the market during her tenure in various leadership roles for the International Olympic Committee. Prior to her business career, Angela played hockey for four Olympic teams and received just about every accolade you could decorate a US-born female hockey player with. Her conversation with Next Play partner Hunter Hillenmeyer includes insights into why so many athletes struggle after their sports careers end and what can be done to change this dynamic. Angela believes it starts with cultivating passions outside of sports long before retirement. She also compares and contrasts how the sports world and the corporate world stack up in terms of knowing their customers and evaluating talent. Let's just say both industries could learn plenty from the other.

John Vrionis looks, on paper, like many other VCs - educated at Harvard, University of Chicago, and Stanford GSB - mentored by founders of funds like Benchmark, Kleiner Perkins, and Sequoia. Yet, for all the ways John might seem "normal" for a VC, this conversation focuses on all the ways he is different. As the name implies, Unusual Ventures celebrates their differences. John gives a granular look at many of the behaviors and values that make his firm unusual in this candid chat with Next Play founder Ryan Nece. His background as a hard-charging soccer player results in his penchant for quick hitting one liners to explain his core values. Phrases like, "if you're comfortable, you're not learning," and, "he who chases two rabbits catches neither," provide a glimpse into the wealth of experience this seasoned investor has for any founder or VC looking to break into the world of venture capital and startups.

Materials companies are not generally the first industry that comes to mind when you think about venture capital darlings. But don't tell that to Carbice founder, Bara Cola. Hear Bara describe the unique ways that Carbice has leveraged carbon nanotubes to create a material that sounds almost magical in its potential to serve customers in industries like semiconductors, automotive, and space travel. Carbice recently raised a round of funding that sets them on a path to scale production and capitalize on years of research, an impressive collection of patents, and demand from customers in a variety of industries. Current success aside, the story of Carbice has actually been a story of overcoming hardship. For any entrepreneurs out there looking for a masterclass in perseverance, Bara would make a good coach. Tune in to discover the several times when Bara and Carbice could have easily given up. That cauldron has helped make Bara and Carbice what they are today.

Puneet represents a rare combo in a VC. He came into the industry with extensive experience on both the operating side, as a product manager at several startups, and on the finance side in tech investment banking at JP Morgan. As a "both sides of the table" sort of VC, Puneet has a wealth of great insights that reflect his breadth of experience. The founder is the customer (not the other way around). Empathy, adaptability, and authenticity are fundamental characteristics in both investors and founders. Founders should bring a sense of safety, not fear, to the board room and to their teams. There are many more nuggets in this great conversation about the evolving role of a VC. One example, Puneet says young VCs have to learn to trust themselves, whereas more seasoned VCs have to learn to doubt themselves. Just because something didn't work 5 years ago, it doesn't mean it won't work today. Any investor or founder can learn a lot about the industry by dropping in on this conversation. Have a listen.

Eurie and Forerunner have enjoyed a decade of performance that places them at the apex of the VC world. But, as Eurie is quick to explain, the actual investment is more like the "start of an ultra marathon" than a finish line. Eurie and Ryan's conversation covers her path to get into venture, how Forerunner works to give their portfolio companies an unfair advantage, and even how she approaches risk and investing with her own nest egg. Enjoy this wide ranging conversation with a General Partner whose fund has gone from investing out of a $40M first fund to a $500M fifth fund in a time period that saw them invest in an enviable list of excellent startups.

Richard is a Georgetown grad, a school perhaps best known for politics, and he jokes that he chose VC because startups are in some ways the opposite of government, which can be slow and resistant to change. Equal Ventures prefers to lead Seed and Series A investments in a wide array of industries. Hear Richard share his view on how VCs can have a "prepared mind" and why this preparation can lead to better investing and less wasted time. Tune in for a great "how to" listen from this future star in VC.