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Bryan Power, Head of People at Nextdoor, joined us on The Modern People Leader. We talked about how the company is navigating its “third era” under the return of co-founder Nirav Tolia. We explored “The Founders Mentality”, embracing an owner's mindset, and Nextdoor's AI bootcamp.---- Sponsor Links:
Jason and Brian dive into a whirlwind of tech chaos, cultural absurdities, and dystopian developments. They kick things off with a nostalgic nod to the internet's past, highlighting the 88x31 GIF collection and quirky single-use websites like "Trump Golf Track" and "Are We Doomed Yet?" The asteroid 2024 YR4 briefly raises existential dread as NASA's odds of a 2032 Earth impact fluctuate wildly, but relief follows as updated calculations show a near-zero chance of collision. Meanwhile, Elon Musk dominates the headlines with his bizarre CPAC appearance brandishing a chainsaw, Tesla's anti-theft dye measures for Supercharger cables, and mounting protests against his political entanglements and government layoffs under DOGE.The episode also covers corporate drama and AI controversies. The New York Times introduces newsroom AI tools amidst its legal battles with OpenAI, while Microsoft CEO Satya Nadella urges the industry to temper AI hype. Uber sues DoorDash over alleged anti-competitive practices, and Meta unveils plans for the world's longest undersea cable alongside LlamaCon, its first generative AI conference. Meanwhile, Humane abruptly discontinues its AI Pins following an HP acquisition, leaving users scrambling. The hosts also explore Musk's meddling with X's Community Notes and blocking Signal links, further eroding trust in the platform.On the media front, Jason and Brian discuss upcoming releases like Daredevil: Born Again, The Last of Us Season 2, Apple's Murderbot series, and Judd Apatow's Norm Macdonald documentary. They wrap up with listener feedback, shout-outs to Patreon supporters, and a hilarious anecdote about a Tesla showroom protest featuring an employee's cheeky “We Hate Him Too” sign. As always, the duo blends sharp insights with biting humor to dissect the week's madness.Sponsors:DeleteMe - Head over to JoinDeleteMe.com/GOG and use the code "GOG" for 20% off.Private Internet Access - Go to GOG.Show/vpn and sign up today. For a limited time only, you can get OUR favorite VPN for as little as $2.03 a month.SetApp - With a single monthly subscription you get 240+ apps for your Mac. Go to SetApp and get started today!!!1Password - Get a great deal on the only password manager recommended by Grumpy Old Geeks! gog.show/1passwordShow notes at https://gog.show/685FOLLOW UPThe 88x31 GIF CollectionTrump Golf TrackAre We Doomed Yet?Odds of Asteroid Hitting Earth in 2032 Climb Again as Impact Probability Hits New PeakNASA Makes Big Update to Asteroid Potentially on Collision Course With Earth in 2032IN THE NEWSI cannot describe how strange Elon Musk's CPAC appearance was. So here's a literal transcript instead.Tesla Installing Countermeasures as People Are Hacking the Cables Off SuperchargersProtesters demonstrate outside Tesla showrooms in USSign That Says “We Hate Him Too” Appears in Window of Tesla DealershipThe New York Times has greenlit AI tools for product and edit staffUSDA Scrambles to Rehire Bird Flu Experts After DOGE Laid Them OffDOGE Reportedly Cuts FDA Employees Investigating NeuralinkDOGE employee cuts fall heavily on agency that regulates Musk's TeslaElon Musk wants to 'fix' Community Notes on XTrump Media says it lost more than $400 million last year while revenue dropped 12%Trump Media and Technology Group, the parent company of Trump's Truth Social, site just announced it lost $400.9 million last year.Trump Administration Wants to Help Get Professional Misogynist Andrew Tate out of RomaniaHere's Why Trump May View Andrew Tate As An Ally—As He Reportedly Pressures Romania To Lift His Travel RestrictionsNextdoor's Nirav Tolia thinks he can turn things around with AI; he has a lot riding on itX blocks users from sharing links to SignalUber accuses DoorDash of anti-competitive practices in a lawsuitMeta Will Build the World's Longest Undersea CableMeta announces LlamaCon, its first generative AI dev conferenceMeta Connect 2025Zuckerberg's New Metaverse Ad Is So Bad That the People Who Created It Must Be Secretly Trying to Humiliate HimMicrosoft's Satya Nadella Pumps the Breaks on AI HypeHelix: A Vision-Language-Action Model for Generalist Humanoid ControlNew Polling Shows Americans Increasingly Disgusted With Elon MuskMEDIA CANDYThe WIld RobotThe GorgeSNL50: The Anniversary SpecialNorm Macdonald Documentary in the Works from Judd ApatowAmazon Gains Creative Control of James Bond FranchiseThe White LotusScamandaSly Lives! (aka The Burden of Black Genius)Reacher Season 3Marvel Is Exploring Bringing Back Other Defenders From NetflixNow We Know Exactly When The Last of Us Season 2 Is ComingApple's Murderbot series starts streaming in MayApple says Severance has become its most popular show ever, overtaking Ted LassoWhy Do We Do That? PodcastAMC STUBS A-ListAPPS & DOODADSInk ConsoleInk Console is a portable e-ink gamebook consoleBluditNodeHostBrainHQImpulse - Brain TrainingAll of Humane's AI pins will stop working in 10 daysHorbäach Creatine Monohydrate Capsules | 3500mg | 300 Count | Non-GMO and Gluten Free SupplementCLOSING SHOUT-OUTSAndy Stochansky on IGSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In today's episode, I sit down with Nirav Tolia, co-founder and former CEO of Nextdoor, the world's largest local social network. With over two decades of experience leading pioneering Internet companies, Nirav shares insights from building Nextdoor, stepping away after nine years, and eventually returning as CEO in 2024. He reflects on the resilience required to create meaningful businesses, the importance of curiosity in navigating challenges, and why nobody gets paid to do the easy thing. From his early days at Yahoo to leading a public company, Nirav's journey offers valuable lessons on leadership, perseverance, and the mindset needed to turn setbacks into success.
Cofounder and CEO of Nextdoor, Nirav Tolia, looks back on his childhood in small-town Texas, and how an inner conflict about belonging may have led to him creating the first social network for neighbors. With his commitment to building community, it's no surprise two of his seven songs include the words ‘home' and ‘house' in their titles. Take me Home, Country Roads – John Denver The Reflex – Duran Duran World in My Eyes – Depeche Mode Eye of the Tiger – Survivor If My Heart Was a House – Owl City Con Te Partirò – Andrea Bocelli Beautiful Day – U2 Listen to Nirav Tolia's full playlist on Spotify. Find the transcript of this episode at lifeinsevensongs.com. Thoughts? Guest suggestions?
Nirav Tolia is the co-founder and two-time CEO of Nextdoor. He started the company in 2011, stepped down as CEO in 2018, watched the company go public in 2021, and re-joined as CEO the summer of 2024. He also founded Epinions which IPO'd in 2004, and before that was an early employee at Yahoo. We go inside the decision to re-join the company after he thought he'd never come back, and how Nextdoor's trying to act like a startup while running a public company. He also takes us back to the very early days of Nextdoor, the deliberate product decisions that made growth hard but led to 100M+ neighbors on the platform, the lessons learned operating his first company through the Dot Com Bubble, and what it was like being a guest shark on Shark Tank. For full show notes, visit: https://highlightai.com/share/d7bcd655-9b2f-47f7-a6e3-fdf3e109c97e Recommended Podcast:
When social media platform Nextdoor launched advertising in 2017, CEO Nirav Tolia declared it would be a $1 billion business by 2020. That didn't happen. Nextdoor generated $66 million overall in Q3 of this year, and Tolia chides himself for his hyperbole. But Nextdoor has an ambitious plan for advertising growth.
Nextdoor's Nirav Tolia joins Patty and Jessica this week to share his journey as a serial entrepreneur, reflecting on the challenges of leadership. They discuss the importance of personal growth, resilience, and learning from failure, along with the role of teamwork and vulnerability. They also reflect on treating company culture like a product that needs ongoing care and attention.Do you have an ongoing work issue you need guidance solving? Or maybe you want to know how Patty and Jess would have dealt with a past problem. Share your stories and questions with our producers here.TruthWorks is hosted by Jessica Neal and Patty McCord. The show is edited, mixed and produced by Megan Hayward. Our Production Manager is Kathleen Speckert. TruthWorks is an editaudio production.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
How do you create an online community that can foster in-person connections? That's what Nextdoor, the social network for neighbors, has been trying to do since its 2008 founding. This week's guest on Leadership Next is current—and former—CEO Nirav Tolia. Tolia, a longtime entrepreneur, talks to Diane about returning to the company he cofounded, what people gain by getting to know their neighbors, and what it's like to be on Shark Tank. Leadership Next is powered by Deloitte.
A big step this weekend for SpaceX's bid to develop reusable rockets, successfully catching a descending rocket booster on the launch pad with mechanical "chopstick" arms. But officials in California are putting up some hurdles to even more expansion for the startup. Plus, as Florida residents recover from Hurricane Milton, one platform they're turning to for news and updates is Nextdoor. The social media network says activity has shot up 50% in affected areas. We speak to CEO Nirav Tolia on the platform's emergency response usage.
Live from The GroupM Rooftop on Day 2 of Cannes Lions 2024, Elliot Milard, Chief Strategy & Planning Officer for Wavemaker in the UK interviews CEO and co-founder of Nextdoor Nirav Tolia about Nextdoor and the power of hyperlocal engagement. -- GroupM Socials
Guest: Sarah Friar, former CEO of NextdoorSarah Friar has worked with some of the top leaders in Silicon Valley, including Salesforce CEO Marc Benioff, Walmart CEO Doug McMillon, Block CEO Jack Dorsey, and most recently Nextdoor founder Nirav Tolia, who just replaced her as CEO in May. And one of the things that sets top performers apart from the rest, she argues, is their compassion and their responsiveness. When her former EA's husband was diagnosed with cancer, Sarah texted Benioff — who she had just left behind to work at Square — for help. Within seconds, she recalls, he arranged an appointment at UCSF. “That is an amazing moment of compassion,” she says, “where he did not need to take that time.” In this episode, Sarah and Joubin discuss public markets vs. VC, George Floyd, working with the board, singular focus, Goldman Sachs, being in “flow,” the freedom of not getting the thing you want, Walmart, Steph Curry, Graham Smith, Charlie Rose and Donald Trump, ugly babies, Elon Musk, Ladies Who Lunch, CNBC, commuting from home, white noise, “frequent Friars,” @TechEmails on Twitter, and the “zone of gratefulness.”Chapters:(02:04) - Why Sarah left Nextdoor (08:18) - The stock market and success (10:21) - Going through hell (14:48) - Life is not an A/B test (16:09) - Multiple tours of duty (19:21) - Ikigai (22:02) - Perfectionism and drive (25:54) - Sarah's next operating role (28:35) - Big transitions (30:35) - Personal burn rate (35:34) - “Are people gonna take my call?” (38:40) - Leaving Salesforce for Square (41:27) - Loyalty (45:33) - Leaving the right way (47:44) - Square and Swiss cheese companies (50:03) - Growth companies (52:38) - Apolitical workplaces (53:42) - Leaving Square (55:38) - Loneliness (57:18) - Daily routines (01:05:03) - Working on weekends (01:08:30) - Hyper-responsiveness (01:11:47) - Resumé virtues and eulogy virtues (01:15:33) - What “grit” means to Sarah Links:Connect with SarahTwitterLinkedInConnect with JoubinTwitterLinkedInEmail: grit@kleinerperkins.com Learn more about Kleiner PerkinsThis episode was edited by Eric Johnson from LightningPod.fm
Episode 336 of The VentureFizz Podcast features Julia Rodgers, Esq., CEO & Co-Founder of HelloPrenup, a platform that takes the awkwardness out of discussing and creating prenuptial agreements. This is the 3rd and final podcast interview from my live sessions at Suffolk University with 3 alums that being Don Bulens, Ernesto DiGiambattista, and Julia Rodgers. Some of the best entrepreneurs that I have interviewed for this podcast have either bootstrapped or raised a very, very minimal amount of capital to build their company in the early years. If you are successful with this approach, there are many benefits including the fact that you will have likely built a solid foundation for your business and if you do decide to raise capital to help fuel the growth, you'll have a lot more control over the terms. As you'll hear from this interview, Julia has raised only $150,000 total. She started working on HelloPrenup while working a fulltime job. This would involve working with the developer on the initial build of the product while also writing 1,200 word blog posts daily about prenups. This is a true foundational story of entrepreneurship and why I love doing this podcast. In this episode of our podcast, we cover: * Julia's background story and her experience as an attorney in family law. * The industry trend that prompted her to start a business around prenups, a topic that has a history of being a taboo between couples. * All the details about HelloPrenup including how she met her co-founder, Sarabeth Jaffe. * A deep dive into their appearance on ABC's Shark Tank and their successful investment from Kevin O'Leary and Nirav Tolia, the Founder of Nextdoor. * Why she hasn't raised institutional venture capital funding to date. * How she has approached hiring for the team and found people who are passionate about their business. * Advice for female founders and the power of networking. * And so much more.
The First 100 | How Founders Acquired their First 100 Customers | Product-Market Fit
My guest today is David Wiesen, the co-founder of Nextdoor, which operates a hyperlocal social networking service for neighborhoods. The company was founded in 2010 and is based in San Francisco, California, by Nirav Tolia, Sarah Leary, Prakash Janakiraman, and David Wiesen. Nextdoor has built a platform that facilitates healthy neighborhood connections and conversations. Nextdoor has ~36 Million weekly active users or neighbors on the platform. With 63 Million users and over 280,000 neighborhoods, Nextdoor has become a niche social media platform with the purpose of cultivating a kinder world where everyone has a neighborhood they can rely on. Nextdoor has raised $736.5M in funding over 13 rounds. Their latest funding was raised from a post-IPO equity round on Jan 17, 2023. Nextdoor is registered under the ticker NYSE: KINDThis episode is sponsored by GemographyAre you struggling to find top developers in a competitive market? Gemography connects you with top-tier remote tech talent from untapped regions, all pre-vetted and interview-ready. You'll Know all costs upfront, no surprises.If you like our podcast, please don't forget to subscribe and support us on your favorite podcast players. We also would appreciate your feedback and rating to reach more people.We recently launched our new newsletter, Principles Friday, where I share one principle that can help you in your life or business, one thought-provoking question, and one call to action toward that principle. Please subscribe Here.It is Free and Short (2min).
Nirav Tolia, Co-Founder; Nextdoor, Epinions & Fanbase joins David Johnson on this episode of CEO Spotlight.
I moved from San Francisco to New York, in February 2019, back before it was cool to turn tail on the tech mecca. Truth be told, I’ll always have a special place in my heart for San Francisco, but my girlfriend beckoned from Brooklyn.I’m writing this from my flight back to New York after over a week in SF. I spent much of it in an Airbnb next to Mr. Pickle’s on Van Ness Avenue and then a few days crashing at a fellow tech reporter’s apartment in the Outer Richmond. I ate Mission Chinese and La Taqueria, drank at Brass Tacks and The Monk’s Kettle, and made it up to Calistoga for a picturesque vineyard wedding.But did I spend any time working for you, dear reader? Yes, not to worry. I spent my days shuttling from South Park to the Presidio, catching up with venture capitalists, founders, tech media insiders, and senior tech executives. And I spent my nights getting drunk with them, eager for looser lips.Here are my key immediate takeaways:One source told me that even Insight Partners — which announced a $20 billion fund in February — has decided to seriously slow down big late stage private investments. Until recently, Insight looked like one of the last holdouts when it came to doing late stage deals even as the market unraveled. But now, like pretty much everyone else, it’s mostly focused on its existing portfolio.VC advice on the downturn — even Sequoia Capital’s presentation to founders — has felt too much like content marketing. For some startup CEOs it can feel a bit like you’re the goody two-shoes, “A” student in the classroom, when the teacher reprimands everyone. You think the rebuke applies to you, but really the message is meant for the troublemakers. But it’s the most diligent among us that take these admonitions personally. Founders need advice specific to their company. There’s a sense that there have been many software engineers who have been overpromoted in the bull cycle and that this downturn could force some coders to reset their expectations about their appropriate rank and pay.I spent much of my time asking sources what the overarching, thematic story of the downturn would be. One venture capitalist gave me my favorite answer: He argued that we’d look back on this downturn as a story of the perfect storm between retail and professional investor excesses. On the retail side, we saw the rise of Robinhood and Coinbase, and r/wallstreetbets trades on Kodak and GameStop. On the professional side, we saw firms like SoftBank and Tiger go so, so long without enough diligence to back it up.If I had to name a couple companies/firms that I think are most likely to represent this downturn, right now I’d name Instacart, Coinbase, Robinhood, GoPuff, Bird, Tesla, Tiger, and SoftBank. Though, right now, I think increasingly crypto is looking like it will be the category most associated with this cycle’s excesses.There’s been a lot of envy in traditional startup world of people who went over to the the crypto dark side. Now there’s all sorts of schadenfreude going on as crypto prices plummet. Some VCs are starting to admit (mostly in private) that they never really believed in crypto. Still, there’s so much money. Just as I was leaving the city, Coinbase announced that it was brutally laying off 18% of its staff, locking them out of their emails before they even had time to say goodbye.We’re overdue for a reckoning over who screwed over credulous investors with implausible SPAC deals. ~cough~ Chamath ~ cough ~ At least, Brad Gerstner’s Altimeter led the PIPE on its own terrible Grab SPAC deal. Andreessen Horowitz still remains, probably, the biggest nemesis of many firms in Silicon Valley. Sure, Tiger blew up the startup world. But what Tiger did was so unlike anything venture capital firms were doing, so there’s less professional jealousy. There are whispers that things aren’t as copacetic internally at a16z as might appear from their highly choreographed public communications. It would seem that part of the explanation for the explosion of funds at the firm has been the explosion of egos. Instead of resolving interpersonal conflicts on the consumer fund, let’s just create a gaming fund. In that light, it’s pretty amazing that the firm couldn’t figure out a way to keep Katie Haun. Consumer investing across the board seems challenged. What’s going on over at Popshop, Lunchclub, Cameo, and Clubhouse just to name a few? I guess investors simply wishing consumer investing into being without a strong new thesis wasn’t exactly an omen for the sector’s inevitable success. (I will say that Whatnot and BeReal remain two consumer plays that I’m still following.) What will it mean for this generation of consumer investors? Benchmark’s next generation consumer investor, Sarah Tavel, seems to have made her best investment in business-to-business company Chainalysis, last valued at $8.6 billion. Speaking of Benchmark, the firm deserves some credit for holding firm on its strategy as other venture firms’ fund sizes got crazy. Sure, Benchmark probably could have made way more money if it topped up its own investments — but then it might be taking the heat that Benchmark favorite Altimeter is getting right now over its overexuberance. There’s money and reputation to manage. Benchmark has always made enough money to value its reputation. (That’s something Travis Kalanick, Adam Neumann, Nirav Tolia, etc. surely gripe about.)Last year’s hype around venture capital firms indefinitely holding onto private companies long after they go public is looking like pure bubble thinking. Sequoia’s timing on its all-in-one, hold indefinitely “The Sequoia Capital Fund” looks a little more like one of the excesses from the bull market. But limited partners seem too afraid to do anything to unwind the strategy shift that seems designed to enrich the firm’s general partners. (Reach out to me if you have off-the-record intel on this.)Investors are dramatically slowing the pace of their investments. These funds are going to last years longer than they would have in bull times. Multi-stage investors seem more inclined to double-down on their existing portfolio companies than to make new bets. Bridge rounds are on everyone’s lips. Still, I heard from investors who had made secret Series B and C investments in companies this year. It’s a good time to make a bet on a company that got away for a hype-y Series A round.Startup founders think prospective employees want assurances that their company is really worth what the company says it is. Good private unicorns are in a bit of a bind. Prospective employees are now automatically giving their equity offers a mental haircut based on the market downturn. So good companies have an incentive to reaffirm their valuations with funding rounds during the downturn — even if it otherwise might be smarter to keep their valuations artificially low so as to maintain room to grow should conditions worsen. (I wish employees would get better at assessing companies based on fundamentals, rather than the last tick fundraising round. Employees are basically begging founders to maximize for valuation, which then minimizes employee upside.)Some small-to-medium sized companies are shopping themselves to their rival startups but it’s not always clear why the competitor would want to buy. Why take on additional burn and headcount when all you might end up getting is leads on some new customers? Sure, you might do some venture capital firm a favor, but what’s that really worth?There are some cracks in up-start media world. The most obvious tremor is at BuzzFeed where the stock has sunk 54% in a month. Reporters have been leaving in droves. Meanwhile, The Information lost one of its top editors — Martin Peers. He’s long been a central figure over there. The Information’s up-and-coming venture capital reporter Berber Jin departed to the Wall Street Journal, as did Sarah Krouse who will be covering Netflix for the Journal. Stephen Nellis returned to Reuters. Meanwhile spirits seem strong at my former employer, Bloomberg. The ascendance of the player-coach editor seems to have people upbeat. Sarah Frier is leading big tech coverage and Lucas Shaw (who has been a guest on Dead Cat) is running the show on Hollywood coverage. And somehow Bloomberg just lured back a former star reporter who had left to join the startup ranks: Alex Barinka — who left Bloomberg as a deals reporter to help launch Imran Khan’s Verishop before going over to Stitch Fix — is joining Frier’s team as a social media reporter based in LA. Next week I’m in Toronto for Collision where I’ll be interviewing Uncork Capital’s Andy McLoughlin, Real Ventures’ Janet Bannister, and Left Lane Capital’s Vinny Pujji on a panel Wednesday called “Survival of the leanest: The importance of being capital efficient.” Then, less than an hour later I’ll interview General Catalyst’s Hemant Taneja about responsible innovation. On Thursday, I’ll ask “Has the tech bubble burst... again?!” in a panel with FirstMark’s Matt Turck, Lux’s Deena Shakir, and Neo Financial’s Andrew Chau. Expect the most interesting tidbits in this newsletter late next week.Talking about Chesa Boudin on Dead CatMy first meeting in San Francisco started with a tour of The San Francisco Standard, the Michael Moritz-funded local news enterprise. My old editor Jonathan Weber — once the editor of tech media dot-com icon The Industry Standard — is the editor-in-chief over at the SF Standard. Weber, Dead Cat co-host Tom Dotan, and I met up for a nice dinner at The Morris in the Mission. After spending the evening discussing San Francisco District Attorney Chesa Boudin’s recall, Tom and I convinced Weber to come on the Dead Cat podcast and talk about the Standard and San Francisco politics.Tom thinks I’m going to get eviscerated by San Franciscans for my politics. This is something we’ve never seen before: a New Yorker opining on San Francisco local affairs. I did my best to offend conservatives and liberals alike, maligning the police while rooting for tech’s ascendant influence on San Francisco politics. Weber makes the case for objective, follow-the-reporting local news and outlines the real issues underpinning the recall. He explains how money is simultaneously to blame and not to blame for Boudin’s recall. And he defends the Standard against its critics for its influential story on Boudin’s refusal to make drug arrests. We interrogate what Boudin’s defeat means for the future of progressive politics and the city of San Francisco.Give it a listen.Read the automated transcript. Get full access to Newcomer at www.newcomer.co/subscribe
I moved from San Francisco to New York, in February 2019, back before it was cool to turn tail on the tech mecca. Truth be told, I'll always have a special place in my heart for San Francisco, but my girlfriend beckoned from Brooklyn.I'm writing this from my flight back to New York after over a week in SF. I spent much of it in an Airbnb next to Mr. Pickle's on Van Ness Avenue and then a few days crashing at a fellow tech reporter's apartment in the Outer Richmond. I ate Mission Chinese and La Taqueria, drank at Brass Tacks and The Monk's Kettle, and made it up to Calistoga for a picturesque vineyard wedding.But did I spend any time working for you, dear reader? Yes, not to worry. I spent my days shuttling from South Park to the Presidio, catching up with venture capitalists, founders, tech media insiders, and senior tech executives. And I spent my nights getting drunk with them, eager for looser lips.Here are my key immediate takeaways:One source told me that even Insight Partners — which announced a $20 billion fund in February — has decided to seriously slow down big late stage private investments. Until recently, Insight looked like one of the last holdouts when it came to doing late stage deals even as the market unraveled. But now, like pretty much everyone else, it's mostly focused on its existing portfolio.VC advice on the downturn — even Sequoia Capital's presentation to founders — has felt too much like content marketing. For some startup CEOs it can feel a bit like you're the goody two-shoes, “A” student in the classroom, when the teacher reprimands everyone. You think the rebuke applies to you, but really the message is meant for the troublemakers. But it's the most diligent among us that take these admonitions personally. Founders need advice specific to their company. There's a sense that there have been many software engineers who have been overpromoted in the bull cycle and that this downturn could force some coders to reset their expectations about their appropriate rank and pay.I spent much of my time asking sources what the overarching, thematic story of the downturn would be. One venture capitalist gave me my favorite answer: He argued that we'd look back on this downturn as a story of the perfect storm between retail and professional investor excesses. On the retail side, we saw the rise of Robinhood and Coinbase, and r/wallstreetbets trades on Kodak and GameStop. On the professional side, we saw firms like SoftBank and Tiger go so, so long without enough diligence to back it up.If I had to name a couple companies/firms that I think are most likely to represent this downturn, right now I'd name Instacart, Coinbase, Robinhood, GoPuff, Bird, Tesla, Tiger, and SoftBank. Though, right now, I think increasingly crypto is looking like it will be the category most associated with this cycle's excesses.There's been a lot of envy in traditional startup world of people who went over to the the crypto dark side. Now there's all sorts of schadenfreude going on as crypto prices plummet. Some VCs are starting to admit (mostly in private) that they never really believed in crypto. Still, there's so much money. Just as I was leaving the city, Coinbase announced that it was brutally laying off 18% of its staff, locking them out of their emails before they even had time to say goodbye.We're overdue for a reckoning over who screwed over credulous investors with implausible SPAC deals. ~cough~ Chamath ~ cough ~ At least, Brad Gerstner's Altimeter led the PIPE on its own terrible Grab SPAC deal. Andreessen Horowitz still remains, probably, the biggest nemesis of many firms in Silicon Valley. Sure, Tiger blew up the startup world. But what Tiger did was so unlike anything venture capital firms were doing, so there's less professional jealousy. There are whispers that things aren't as copacetic internally at a16z as might appear from their highly choreographed public communications. It would seem that part of the explanation for the explosion of funds at the firm has been the explosion of egos. Instead of resolving interpersonal conflicts on the consumer fund, let's just create a gaming fund. In that light, it's pretty amazing that the firm couldn't figure out a way to keep Katie Haun. Consumer investing across the board seems challenged. What's going on over at Popshop, Lunchclub, Cameo, and Clubhouse just to name a few? I guess investors simply wishing consumer investing into being without a strong new thesis wasn't exactly an omen for the sector's inevitable success. (I will say that Whatnot and BeReal remain two consumer plays that I'm still following.) What will it mean for this generation of consumer investors? Benchmark's next generation consumer investor, Sarah Tavel, seems to have made her best investment in business-to-business company Chainalysis, last valued at $8.6 billion. Speaking of Benchmark, the firm deserves some credit for holding firm on its strategy as other venture firms' fund sizes got crazy. Sure, Benchmark probably could have made way more money if it topped up its own investments — but then it might be taking the heat that Benchmark favorite Altimeter is getting right now over its overexuberance. There's money and reputation to manage. Benchmark has always made enough money to value its reputation. (That's something Travis Kalanick, Adam Neumann, Nirav Tolia, etc. surely gripe about.)Last year's hype around venture capital firms indefinitely holding onto private companies long after they go public is looking like pure bubble thinking. Sequoia's timing on its all-in-one, hold indefinitely “The Sequoia Capital Fund” looks a little more like one of the excesses from the bull market. But limited partners seem too afraid to do anything to unwind the strategy shift that seems designed to enrich the firm's general partners. (Reach out to me if you have off-the-record intel on this.)Investors are dramatically slowing the pace of their investments. These funds are going to last years longer than they would have in bull times. Multi-stage investors seem more inclined to double-down on their existing portfolio companies than to make new bets. Bridge rounds are on everyone's lips. Still, I heard from investors who had made secret Series B and C investments in companies this year. It's a good time to make a bet on a company that got away for a hype-y Series A round.Startup founders think prospective employees want assurances that their company is really worth what the company says it is. Good private unicorns are in a bit of a bind. Prospective employees are now automatically giving their equity offers a mental haircut based on the market downturn. So good companies have an incentive to reaffirm their valuations with funding rounds during the downturn — even if it otherwise might be smarter to keep their valuations artificially low so as to maintain room to grow should conditions worsen. (I wish employees would get better at assessing companies based on fundamentals, rather than the last tick fundraising round. Employees are basically begging founders to maximize for valuation, which then minimizes employee upside.)Some small-to-medium sized companies are shopping themselves to their rival startups but it's not always clear why the competitor would want to buy. Why take on additional burn and headcount when all you might end up getting is leads on some new customers? Sure, you might do some venture capital firm a favor, but what's that really worth?There are some cracks in up-start media world. The most obvious tremor is at BuzzFeed where the stock has sunk 54% in a month. Reporters have been leaving in droves. Meanwhile, The Information lost one of its top editors — Martin Peers. He's long been a central figure over there. The Information's up-and-coming venture capital reporter Berber Jin departed to the Wall Street Journal, as did Sarah Krouse who will be covering Netflix for the Journal. Stephen Nellis returned to Reuters. Meanwhile spirits seem strong at my former employer, Bloomberg. The ascendance of the player-coach editor seems to have people upbeat. Sarah Frier is leading big tech coverage and Lucas Shaw (who has been a guest on Dead Cat) is running the show on Hollywood coverage. And somehow Bloomberg just lured back a former star reporter who had left to join the startup ranks: Alex Barinka — who left Bloomberg as a deals reporter to help launch Imran Khan's Verishop before going over to Stitch Fix — is joining Frier's team as a social media reporter based in LA. Next week I'm in Toronto for Collision where I'll be interviewing Uncork Capital's Andy McLoughlin, Real Ventures' Janet Bannister, and Left Lane Capital's Vinny Pujji on a panel Wednesday called “Survival of the leanest: The importance of being capital efficient.” Then, less than an hour later I'll interview General Catalyst's Hemant Taneja about responsible innovation. On Thursday, I'll ask “Has the tech bubble burst... again?!” in a panel with FirstMark's Matt Turck, Lux's Deena Shakir, and Neo Financial's Andrew Chau. Expect the most interesting tidbits in this newsletter late next week.Talking about Chesa Boudin on Dead CatMy first meeting in San Francisco started with a tour of The San Francisco Standard, the Michael Moritz-funded local news enterprise. My old editor Jonathan Weber — once the editor of tech media dot-com icon The Industry Standard — is the editor-in-chief over at the SF Standard. Weber, Dead Cat co-host Tom Dotan, and I met up for a nice dinner at The Morris in the Mission. After spending the evening discussing San Francisco District Attorney Chesa Boudin's recall, Tom and I convinced Weber to come on the Dead Cat podcast and talk about the Standard and San Francisco politics.Tom thinks I'm going to get eviscerated by San Franciscans for my politics. This is something we've never seen before: a New Yorker opining on San Francisco local affairs. I did my best to offend conservatives and liberals alike, maligning the police while rooting for tech's ascendant influence on San Francisco politics. Weber makes the case for objective, follow-the-reporting local news and outlines the real issues underpinning the recall. He explains how money is simultaneously to blame and not to blame for Boudin's recall. And he defends the Standard against its critics for its influential story on Boudin's refusal to make drug arrests. We interrogate what Boudin's defeat means for the future of progressive politics and the city of San Francisco.Give it a listen.Read the automated transcript. Get full access to Newcomer at www.newcomer.co/subscribe
On the day of Nextdoor's public debut, Greylock general partner David Sze looks back on his experience working with the social networking startup. Sze knew Nextdoor co-founders Nirav Tolia, Sarah Leary, and Prakash Janakiraman before the company was formed in 2008. While he did not invest in their original concept called Fanbase, Sze was among the first investors after the company's pivot in 2011 into what it is today. Greylock first invested in Nextdoor in March 2012, led a $21.6 million investment round in October 2012, and has been an active partner to the company since. You can read a transcript of this podcast on the Greylock web site: https://greylock.com/portfolio-news/congrats-nextdoor/
This episode is the second part of my two-part interview with visionary entrepreneur, Nirav Tolia, co-founder of the social media giant Nextdoor. We argue that those principles that drive innovation and creativity in Silicon Valley today are very much the same ones that drove the cultural revolution in Florence five centuries ago.
This episode is the first part of a two-part interview with visionary entrepreneur, Nirav Tolia, co-founder of the social media giant Nextdoor. We discuss Nirav's motivation for spending a year in Florence, Italy, teaching a course to Stanford University students about the similarities between the technological revolution of Silicon Valley and the cultural revolution of Renaissance Florence.
Thank you for tuning into "Starting Small", a podcast about brand development, entrepreneurship, and innovation in the modern world. In this episode, I am joined by Nirav Tolia, Co-Founder and ex-CEO of Nextdoor, an application built to bring neighbors together. Nirav grew up in Odessa, Texas where he adapted his interest for the unification of community. Graduating from Stanford, Nirav was a pre med, but discovered his love for business when he managed an all male acapella group. When entering the work force, Nirav founded a number of companies along with acquirng a position with Yahoo in 1996, being one of the first 100 employees to join the organization.Nextdoor launched in 2010, by Nirav and seven other co-founders who were obtained through his previous startup, Fanbase. To market, Nirav and his co-founders would directly pitch to homes in hopes to acquire a new neighborhood, typically leaders of the HOA. Through this resilience, Nextdoor is now used in 1 of ever 4 U.S. households, 11 countries, and 268,000 neighborhoods globally. Nextdoor can be found at https://nextdoor.com/ Follow Starting Small:Instagram: https://www.instagram.com/startingsmallpod/Facebook: https://www.facebook.com/Startingsmallpod/?modal=admin_todo_tourLinkedIn: http://linkedin.com/in/cameronnagle
There are only so many iconic social networks in the world – and Nextdoor is one of them. While perhaps not as fast-growing as Facebook or even LinkedIn, Nextdoor has steadily become the hub for neighborhoods around the world. Sarah Leary founded Nextdoor, along with Nirav Tolia, Prakash Janakiraman, and David Wiesen. In this episode, Sarah tells the story of getting Nextdoor off the ground. She talks about the painstaking work they did to figure out how to build a healthy community around a neighborhood, before they were ready to scale. We talk about the impact COVID-19 had on Nextdoor communities, and how and why she decided to become a venture capitalist at Unusual Ventures. Notable Episode Quotes On Starting Her Career at Microsoft “I joined Microsoft at really a golden time: The early 90s. I was on the product team that launched the first version of Microsoft Office, and that was an all-star team. It was a time when Microsoft was just taking off and went from being this software company that some people had heard of to a household name. I was fortunate enough to, for example, be on stage where we launched Office ninety five with Bill Gates and Jay Leno. We were writing the script as we went along and that was an amazing learning curve.” On the “Pivot” from Fanbase to Nextdoor “If you don't get the seeds of a community right in the beginning, it becomes very difficult to fix it. And after about six months, we actually offered to give the money back to Bill Gurley, who was the lead investor in Fanbase. He said, ‘That's the easy way out. I'll give you three months to work on some new ideas. It doesn't have to be directly related to Fanbase. But why don't you guys take another crack at it?’ That was hard. It was very hard to step back and say. ‘This isn't working and confess to each other that we didn't think it was going to be the next ESPN’, but I'm so glad that we did.” On the Earliest Days of Nextdoor “The idea of Nextdoor changed pretty dramatically in those early stages before we ever wrote a line of code. And thankfully, it's probably saved us from years of going down the wrong path and frankly, probably losing faith in what it was that we were trying to. The prototype was actually launched in the Bay Area and with one neighborhood in Menlo Park, and it worked. People wanted to talk to their neighbors, but we were very cautious and said, OK, that's not enough. Let's try some other ones. In Seattle, Washington, we had one in upstate rural New York. We had one outside of Washington, D.C., and one in Tennessee. And we just started to see how people were using the platform. And that gave us the confidence after we did about five of those to say, ‘OK, this is the winning idea and we're going to double down on it’.” Unusual Ventures: https://www.unusual.vc Something Ventured: www.somethingventured.us
Last week, we hosted a breakfast with Sarah Leary, the phenomenal founder of US-unicorn, Nextdoor, as they launched their social network for neighbourhood communities in Australia. For those not lucky enough to attend, fear not, Ian brought along his recording gear so we could capture Sarah’s amazing story and experience for building great communities and share with you.Nextdoor was launched in the US in 2011 as a social network for people to interact with others who live in their physical neighborhoods. Neighbourhoods across the US rely on the platform to engage with their community, and in the past year, the service became available in several countries across Europe.What many people don’t know, is that before Nextdoor’s success, Sarah and her co-founders Nirav Tolia, Prakash Janakiraman and David Wiesen had already tried building a startup. It was called ‘Fanbase,’ a platform for sports fans to congregate and share information, and it was live for 2 years before Sarah realised that it didn’t have real potential for growth. Having raised money from investors already, they had to decide whether they would return the money or put it towards a new idea.In 2010, Sarah & her co-founders decided it was time to come up with new ideas. One of these ideas started with a pothole problem. Cofounder Nirav, had a pothole on his street, and he didn’t know how to get it fixed or where to start. This small problem, sparked an idea around creating more connectivity in communities, so the team created Nextdoor to tackle this problem in neighbourhoods.They dedicated time to validating the idea in San Francisco neighbourhoods and found that people really seemed to crave connection to other people & community, with the data showing that 21% of Americans couldn’t name their neighbours, and 27% didn’t know who actually lives next door. Since its launch, Nextdoor is now used by 84% of neighbourhoods across the US, over a range of 170k communities, and has recently launched in new markets in the Netherlands, UK, Germany and now Australia! Sarah emphasises that patience is required when building communities and how important constant customer validation is as you build a product that people want to use. She also stresses how vital it is to have investors aligned with your long term vision. This is a fascinating conversation with a truly exceptional leader building a global business with a purpose. If you haven't already signed up to Nextdoor do it now - https://au.nextdoor.com
The post E865: Nextdoor CEO & Co-founder Nirav Tolia on getting to 90% of US neighborhoods & 100m users globally with organic growth & hard choices, shares thoughts on parody, possible IPO, & becoming the unique social network that protects, as well as connects, its members appeared first on This Week In Startups.
The post E865: Nextdoor CEO & Co-founder Nirav Tolia on getting to 90% of US neighborhoods & 100m users globally with organic growth & hard choices, shares thoughts on parody, possible IPO, & becoming the unique social network that protects, as well as connects, its members appeared first on This Week In Startups.
In this episode of The Story Aftershow, Chad Grills and Ian Faison are joined by Lauren Vaccarello, VP of Customer Engagement at Box. They cover: the four key takeaways from the stories this week (Daniel Ek, Jessica Jackley, Roy and Ryan Seiders, and Nirav Tolia) the emotions and struggles that come with starting a company how family can help... or hurt... our pursuits (especially tune in to hear Lauren's hilarious bit around this to get a good laugh) fun historical stories that have timeless lessons that still apply today We hope you enjoy this After Show! Whether you work in: business, technology, a startup, or something completely different, it's our goal to create an after show that helps give you actionable ideas and tactics to apply to your own life to increase your health, wealth, and wisdom! Show Timestamps 1:44 (The Brothers) Roy and Ryan Seiders 10:45 Nirav Tolia 22:40 Daniel Ek 35:50 Jessica Jackley
Nextdoor CEO Nirav Tolia talks with Recode's Kurt Wagner about how he and his team built a social network for neighborhoods, with a focus on trust and privacy that forced the company to grow slower than most tech startups. Tolia was previously the CEO of Epinions, which after a merger became Shopping.com and sold to eBay. After a sports startup called Fanbase fizzled, Tolia was challenged by Benchmark's Bill Gurley to try again, and today Nextdoor is worth more than $1 billion. Having faced adversity and a public image problem of his own, he also shares some leadership advice for Uber CEO Travis Kalanick: Deal with your issues quickly. Learn more about your ad choices. Visit megaphone.fm/adchoices
This is session 12 of Technology-enabled Blitzscaling, a Stanford University class taught by Reid Hoffman, John Lilly, Allen Blue, and Chris Yeh. This class features a guest lecture by Nirav Tolia, the Co-Founder and CEO of Nextdoor, and the Co-Founder and CEO of Epinions, who is then interviewed by John Lilly.