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Podcast Notes Key Takeaways “We see this SPAC phenomenon not as a flash in the pan, not as a quick up and down…but really an enduring vehicle to bring our innovation companies to market and we find that to be extremely exciting”– Troy Steckenrider What is a SPAC?A SPAC is a pool of capital that is used to invest in a private company and help them go public. The capital is raised on the public markets through a traditional IPO and goes into a bank where it is held for up to two years. During that 2-year time, the SPAC management team has an opportunity to go find a partner company, negotiate a deal with them, and take them public. What are the benefits of a SPAC?From the private company’s perspective, it’s an easier path to get into the public marketsFrom the SPAC’s perspective, it’s a way to invest in a company before it IPOs“A company with a strong management team with a clear competitive advantage in an unusual market will always find great investors and draw those great investors” – Kevin HartzRead the full notes @ podcastnotes.org Kevin Hartz is Co-Founder & Partner @ A*, a newly listed special acquisition company which raised $200M to acquire and take public a tech startup. Kevin is also the Co-Founder, former CEO, and Chairman Eventbrite (NYSE: EB). Before Eventbrite, Kevin was the Co-Founder & former CEO of online money transfer service, Xoom (acquired by PayPal for $1.1B). Kevin is also one of the most successful early-stage investors in the business with a portfolio including the likes of Airbnb (Seed, Series A), Uber (Series B), Pinterest (Seed, Series A), Trulia (first check) and PayPal (Seed). Troy Steckenrider is Kevin's co-founder and Partner @ A*. Prior to A*, Troy was COO @ ZeroDown changing the landscape for homeownership with $136M in funding. Before ZeroDown, Troy spent 5 years at Opendoor as Director of Capital Markets. Before that hyper-growth experience at Opendoor, Troy enjoyed roles at both Bain Private Equity and McKinsey. In Today’s Episode You Will Learn: 1.) How Troy and Kevin came together to co-found A*? What is a SPAC? What are Kevin and Troy looking to achieve with the SPAC? 2.) What does Kevin believe are the primary drivers for the rise in SPAC's over the last few years? How will they change the structure of both the VC and startup industry? How will the SPAC landscape evolve over the next few years? What is the biggest challenge they face? 3.) Why does Kevin believe that the fee structure for SPACs is egregious? How would they like to change the incentive structure? How does the timeline for a SPAC transaction compare to that of an IPO? How does the fee structure compare when comparing SPACs to banks in IPOs? 4.) Why did Kevin and Troy choose $200M for the right size for their first SPAC? How does the size of the SPAC determine the type of company the SPAC will merge with? What are Kevin and Troy looking for in their partner company? 5.) What does the fundraising process look like for a SPAC? How do SPAC sponsors deal with the challenge that LPs call pull out if they do not like the proposed partner deal? When evaluating SPACs, what do investors look to invest because of? What makes A* special? Items Mentioned In Today’s Show: Troy’s Fave Book: Churchill: Walking with Destiny As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
Podcast Notes Key Takeaways “We see this SPAC phenomenon not as a flash in the pan, not as a quick up and down…but really an enduring vehicle to bring our innovation companies to market and we find that to be extremely exciting”– Troy Steckenrider What is a SPAC?A SPAC is a pool of capital that is used to invest in a private company and help them go public. The capital is raised on the public markets through a traditional IPO and goes into a bank where it is held for up to two years. During that 2-year time, the SPAC management team has an opportunity to go find a partner company, negotiate a deal with them, and take them public. What are the benefits of a SPAC?From the private company’s perspective, it’s an easier path to get into the public marketsFrom the SPAC’s perspective, it’s a way to invest in a company before it IPOs“A company with a strong management team with a clear competitive advantage in an unusual market will always find great investors and draw those great investors” – Kevin HartzRead the full notes @ podcastnotes.org Kevin Hartz is Co-Founder & Partner @ A*, a newly listed special acquisition company which raised $200M to acquire and take public a tech startup. Kevin is also the Co-Founder, former CEO, and Chairman Eventbrite (NYSE: EB). Before Eventbrite, Kevin was the Co-Founder & former CEO of online money transfer service, Xoom (acquired by PayPal for $1.1B). Kevin is also one of the most successful early-stage investors in the business with a portfolio including the likes of Airbnb (Seed, Series A), Uber (Series B), Pinterest (Seed, Series A), Trulia (first check) and PayPal (Seed). Troy Steckenrider is Kevin's co-founder and Partner @ A*. Prior to A*, Troy was COO @ ZeroDown changing the landscape for homeownership with $136M in funding. Before ZeroDown, Troy spent 5 years at Opendoor as Director of Capital Markets. Before that hyper-growth experience at Opendoor, Troy enjoyed roles at both Bain Private Equity and McKinsey. In Today’s Episode You Will Learn: 1.) How Troy and Kevin came together to co-found A*? What is a SPAC? What are Kevin and Troy looking to achieve with the SPAC? 2.) What does Kevin believe are the primary drivers for the rise in SPAC's over the last few years? How will they change the structure of both the VC and startup industry? How will the SPAC landscape evolve over the next few years? What is the biggest challenge they face? 3.) Why does Kevin believe that the fee structure for SPACs is egregious? How would they like to change the incentive structure? How does the timeline for a SPAC transaction compare to that of an IPO? How does the fee structure compare when comparing SPACs to banks in IPOs? 4.) Why did Kevin and Troy choose $200M for the right size for their first SPAC? How does the size of the SPAC determine the type of company the SPAC will merge with? What are Kevin and Troy looking for in their partner company? 5.) What does the fundraising process look like for a SPAC? How do SPAC sponsors deal with the challenge that LPs call pull out if they do not like the proposed partner deal? When evaluating SPACs, what do investors look to invest because of? What makes A* special? Items Mentioned In Today’s Show: Troy’s Fave Book: Churchill: Walking with Destiny As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Kevin Hartz is Co-Founder & Partner @ A*, a newly listed special acquisition company which raised $200M to acquire and take public a tech startup. Kevin is also the Co-Founder, former CEO, and Chairman Eventbrite (NYSE: EB). Before Eventbrite, Kevin was the Co-Founder & former CEO of online money transfer service, Xoom (acquired by PayPal for $1.1B). Kevin is also one of the most successful early-stage investors in the business with a portfolio including the likes of Airbnb (Seed, Series A), Uber (Series B), Pinterest (Seed, Series A), Trulia (first check) and PayPal (Seed). Troy Steckenrider is Kevin's co-founder and Partner @ A*. Prior to A*, Troy was COO @ ZeroDown changing the landscape for homeownership with $136M in funding. Before ZeroDown, Troy spent 5 years at Opendoor as Director of Capital Markets. Before that hyper-growth experience at Opendoor, Troy enjoyed roles at both Bain Private Equity and McKinsey. In Today’s Episode You Will Learn: 1.) How Troy and Kevin came together to co-found A*? What is a SPAC? What are Kevin and Troy looking to achieve with the SPAC? 2.) What does Kevin believe are the primary drivers for the rise in SPAC's over the last few years? How will they change the structure of both the VC and startup industry? How will the SPAC landscape evolve over the next few years? What is the biggest challenge they face? 3.) Why does Kevin believe that the fee structure for SPACs is egregious? How would they like to change the incentive structure? How does the timeline for a SPAC transaction compare to that of an IPO? How does the fee structure compare when comparing SPACs to banks in IPOs? 4.) Why did Kevin and Troy choose $200M for the right size for their first SPAC? How does the size of the SPAC determine the type of company the SPAC will merge with? What are Kevin and Troy looking for in their partner company? 5.) What does the fundraising process look like for a SPAC? How do SPAC sponsors deal with the challenge that LPs call pull out if they do not like the proposed partner deal? When evaluating SPACs, what do investors look to invest because of? What makes A* special? Items Mentioned In Today’s Show: Troy’s Fave Book: Churchill: Walking with Destiny As always you can follow Harry and The Twenty Minute VC on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
Our first ever President-picked episode - LEGION! Anthony & Dr. Issues go inside David Haller's shattered mind to revisit dissociation, talk about what it's like being the son of the most famous mutant in the world, and the most auditorally challenging couch visit yet! SHOW NOTES: Introduction Response to comments (3:06) Background (9:55) David Charles Haller - Created by Chris Claremont & Bill Sienkiewicz - New Mutants #25 (Mar. 1985) Son of Charles Xavier & Gabrielle Haller - they had an affair, but Charles didn't know of his existence for many years Sole survivor of terror attack - absorbed the mind of terrorist leader into his own mind Kept under observation by Dr. Moira McTaggert on Muir Island for many years Determined that he split his personality, with each one able to control a different ability Early personalities included Jack Wayne, who was telekinetic, and Cyndi, who was pryokinetic After emerging from catatonia, he was possessed by the Shadow King, who used him to kill Destiny As he grew, he learned to control his personalities, and decided to go back in time to kill Magneto to help his father's vision of mankind & mutantkind coexisting Ends up accidentally killing Xavier, who jumps in to protect Magneto - creates Age of Apocalypse era Bishop goes further back to kill Legion with his own psi-blade Discovered to be alive in a box - now has thousands of personalities, each of whom have a different ability Some of his personalities are in Limbo - they battle each other Used to battle Sentinels during Second Coming During Age of X, new personality created to protect Legion - looked like Moira McTaggert Avengers vs. X-Men - Death of Xavier causes David to lose control of his personalities, creating death & destruction across the planet X-Men Legacy - Begins to merge with everyone on the planet, eventually Blindfold stops him TV show portrays mental illness in visually creative style Issues (20:15) Dissociative identity disorder Son trying to outdo father TV show - schizophrenia Treatment (40:44) In-universe - Get inside his mind Out of universe - Treated like schizophrenia with anti-psychotics Couch skit (49:27) Ending (52:39) Next episodes: The Question, Sentry, Casey Jones References: Three men make a tiger/Blind men and an elephant - the idioms Anthony conflated at 20:05 iTunes: here Google Play: here Stitcher: here TuneIn: hereTwitter FacebookE-mailPatreon
Star Talking Episode 20 - The Last Jedi Join Dag, MPS & Uncle Darth PLUS our NEW Co-HOST Catherine, as we discuss all things Star Wars. ThIs episode we take a look at the latest trailer for The Last Jedi. We discuss the latest episodes of Rebels (Spoiler Alert) and Forces of Destiny? As well as that we welcome our new Co-Host Catherine to the fold. All this and more on the next exciting episode of Star Talking.
The Division was beta was out this week, we all got a chance to play it and share with you our thoughts and impressions. Does the beta make us more or less excited to play this game and how does it compare to the other big shoot and loot known as Destiny? As always it's another happy fun time with the Xonebros! Support The Show - https://www.patreon.com/xonebros Our Facebook Page - https://www.facebook.com/Xo... Subscribe On itunes - http://bit.ly/1t
Episode 24: Destiny As you may recall, we previously discussed Destiny when the beta came out during the Summer of 2014. Since that time the world of Destiny has exploded and the experience is unrecognizable from those early days. We’ve collectively sunk 300 hours into this game and we’re currently powering our way through the […]
It’s been awhile, so Brent and Jim look at the first year of the new console generation. We talk hits and misses of PS4, Xbox One, and the Wii U. We also talk about what we are looking forward to in the fall, and the game we both have been playing recently, DESTINY As always … Continue reading BK’s Bullets: Video Games – First Year of New Consoles →