Andrew Chen is a General Partner at Venture Capital Firm Andreessen Horowitz, an author and Board Member at Maven, Substack and Clubhouse. Andrew has worked with some of the fastest growing companies on the planet. He was head of Global Driver Acquisitions at Uber and an early investor in Clubhouse, plus he's spent 3 years researching companies like Tinder and Substack to deconstruct how they use network effects to supercharge their growth. Expect to learn how running college parties can help launch a dating app, the strategic differences between launching and growing an audience, Andrew's biggest lessons from his time at Uber, the most pointless metrics that people focus on, the most common mistakes companies make when launching and much more... Sponsors: Join the Modern Wisdom Community to connect with me & other listeners - https://modernwisdom.locals.com/ Get 20% discount on the highest quality CBD Products from Pure Sport at https://bit.ly/cbdwisdom (use code: MW20) Get a Free Sample Pack of all LMNT Flavours at https://www.drinklmnt.com/modernwisdom (discount automatically applied) Get a $5 discount on Magic Spoon’s amazing cereal at https://magicspoon.com/modernwisdom (use code MODERNWISDOM) Extra Stuff: Buy The Cold Start Problem - https://amzn.to/3lPTs7M Follow Andrew on Twitter - https://twitter.com/andrewchen Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/ To support me on Patreon (thank you): https://www.patreon.com/modernwisdom #investing #startup #business - 00:00 Intro 01:49 How to Become a High-profile Angel Investor 07:10 Is it a Good Time to Be an Investor? 12:48 The Power of Online Networks 24:52 Creating Platforms in the Information Era 33:02 How Clubhouse Incentivised Good Conversations 43:47 How Bitcoin will Impact Online Networks 49:00 Utilising Invites for Atomic Growth 53:20 Tinder & the Science Behind Viral Growth 57:41 Where to Find Andrew - Join the Modern Wisdom Community on Locals - https://modernwisdom.locals.com/ Listen to all episodes on audio: Apple Podcasts: https://apple.co/2MNqIgw Spotify: https://spoti.fi/2LSimPn - Get in touch in the comments below or head to... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx Email: https://chriswillx.com/contact/
Our third #TWIP episode features Explo Co-founder, Andrew Chen, who explains how his early work experience took him from Bio research, through finance, towards the founding of a successful tech start-up. With the company having been on a rapid growth trajectory, initially being part of the San Francisco Y-Combinator scheme, prior to immediately raising seed, and then more recently a Series A, Andrew explains some of the challenges that he and his co-founders have faced along the way. As an analytics expert, we also dig more into the role of website intelligence at Explo and explore some of the key metrics that Andrew focuses on. The Website Intelligence Podcast brings together leading marketers and digital entrepreneurs from around the globe to discuss all things website - outreach, onsite, in sync. Hosts, Matt Sarson, CMO, and Dragos Gal, Head of Partnerships, at Visitor Analytics, take their guests on a journey through their younger years, first jobs, key lessons learned, and more; prior to digging deeper into the role of websites and martech; before ending on some final advice for budding marketers and business owners.
Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Are you curious about the hidden factors driving your investment decisions? Today’s guest is Andrew Chen, a Principal Economist at the Federal Reserve Board who focuses on monetary policy and financial stability. Published in leading journals, his research informs key policy decisions and helps shape the Federal Reserve’s strategy for managing economic challenges effectively. In this episode, Andrew delves into the intricacies of meta-research and asset pricing, focusing on cross-sectional asset pricing predictors, replication, and out-of-sample performance in factor investing. We discuss the significance of open-source data and transparency, highlighting Andrew's creation of the Open Source Asset Pricing project, an indispensable and comprehensive dataset for asset pricing predictors. We also address the challenges of replicating financial studies, publication bias, data mining, and false discovery rates, with Andrew offering practical insights on how these factors impact financial research and investment decisions. For actionable insights that could refine your investment strategies and enhance your understanding of financial research, don’t miss this fascinating conversation! Timestamps: 0:00:00 Intro 0:04:44 Andrew defines asset pricing factors and how it is different from a predictor 0:06:22 Andrew explains how many predictors there are 0:10:55 How many asset pricing factors Andrew was successfully able to reproduce 0:15:58 The implications of this research for the supposed “replication crisis” in cross sectional asset pricing 0:22:01 How the false discovery rate relates to publication bias and out of sample returns 0:27:10 Whether these are the worst-case transaction costs, or if Andrew uses cost mitigation techniques 0:34:09 Which factors, or factor combinations, had the strongest investable expected returns in Andrew's data 0:38:33 How peer-reviewed factors with strong theoretical underpinnings perform relative to naively data mined factors 0:43:54 What this tells us about the academic peer review process 0:47:10 What this tells us about the usefulness of machine learning for asset pricing research 0:51:06 The implications for people using peer-reviewed research for asset allocation decisions 0:54:37 Andrew describes the current state of cross sectional asset pricing 0:58:54 Andrew defines success in his life Links From Today’s Episode: Rational Reminder on Apple Podcasts — https://podcasts.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/@rationalreminder/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Andrew Chen — https://sites.google.com/site/chenandrewy/ Federal Reserve Board — https://www.federalreserve.gov/ Andrew Chen on LinkedIn — https://www.linkedin.com/in/andrew-chen-63394169/ Andrew Chen on X — https://x.com/achenfinance Books From Today’s Episode: The Adaptive Markets Hypothesis: An Evolutionary Approach to Understanding Financial System Dynamics — https://www.amazon.com/dp/0199681147 Papers From Today’s Episode: Andrew Chen, Tom Zimmermann, ’Open Source Cross-Sectional Asset Pricing’— https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3604626 Kewei Hou, Chen Xue, Lu Zhang, ’Replicating Anomalies’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3275496 R. David McLean, Jeffrey Pontiff, ’Does Academic Research Destroy Stock Return Predictability?’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2156623 Ilia D. Dichev, ’Is the Risk of Bankruptcy a Systematic Risk?’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=99868 Campbell R. Harvey, Yan Liu, Caroline Zhu, ‘...and the Cross-Section of Expected Returns’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2249314 Andrew Chen, Mihail Velikov, ‘Zeroing in on the Expected Returns of Anomalies’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3073681 Victor DeMiguel paper relating to which factors have the strongest investable expected returns — Andrew Chen, Alejandro Lopez-Lira, Tom Zimmermann, ‘Does Peer-Reviewed Research Help Predict Stock Returns?’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4308069
Startup executive and investor Andrew Chen discusses his book "The Cold Start Problem: How to Start and Scale Network Effects", revealing what makes winning networks thrive, why some startups fail to successfully scale, and, most crucially, why products that create and compete using the network effect are vitally important today. Although software has become easier to build, launching and scaling new products and services remains difficult. Startups face daunting challenges entering the technology ecosystem, including stiff competition, copycats, and ineffective marketing channels. Teams launching new products must consider the advantages of “the network effect,” where a product or service’s value increases as more users engage with it. Apple, Google, Microsoft, and other tech giants utilize network effects, and most tech products incorporate them, whether they're messaging apps, workplace collaboration tools, or marketplaces. Network effects provide a path for fledgling products to break through, attracting new users through viral growth and word of mouth. Yet most entrepreneurs lack the vocabulary and context to describe them—much less understand the fundamental principles that drive the effect. What exactly are network effects? How do teams create and build them into their products? How do products compete in a market where every player has them? Andrew Chen is a general partner at Andreessen Horowitz where he invests in consumer technology, including social, marketplace, entertainment and gaming experiences. Today, Andrew serves on the boards of All Day Kitchens, Clubhouse, Envoy, Hipcamp, Maven, SandboxVR, Singularity6, Sleeper, Snackpass and Substack. He is a prolific writer and leading voice on mobile, metrics and user growth. He is also a board member and instructor at Reforge, which offers selective growth-focused programs for experienced professionals in marketing, product, data and engineering. Get the book here: https://goo.gle/3F5CklE. Moderated by Ali Norup.
Andrew Chen is currently one of the more well-known up and comers directly out of Silicon Valley. As of today, he stands as Head of Rider Growth at the incredibly successful company known as Uber. If you have never heard of Uber, it is a ride sharing app that allows users to schedule pick-ups and drop-offs right from your phone for immediate or future ride services. And the best part is, they tell you how much your ride will cost beforehand so there are no surprises at the time of service. Chen is a remarkable young man who has achieved great success at an early age because of his extensive knowledge on growth and marketing. He also serves as an advisor and investor for a variety popular new companies and startups; companies like BarkBox, Dropbox, Marco Polo, Product Hunt, and Tinder to name a few. He has spent the last decade of this life writing on issues related to mobile, metrics, and growth on his website. Andrew Chen is an absolute genius when it comes to growth and the penetration of goods and services into the United States household. When it comes to technology we are a world obsessed. From phones and tablets, to smart watches and virtual reality—it seems there is an endless pool of tech gadgets to choose from; each with their own potential daily necessity. During this lecture, Andrew Chen briefly explains that one of the questions he gets asked the most often is “what is the next best thing?” “Where should I be investing my money for the best payoff later?”. As a technological society, we are always looking forward, wondering what will come next. One of the best examples of this is fans of the Apple iPhone. Each year seems to bring a new phone which leaves lines of people along sidewalks and around buildings waiting just to get their hands on the newest iPhone. While this seems crazy to those of us who do not use Apple products, it also takes a heck of a lot of dedication—I will give them that. “I go to Andrew to learn more about the latest methods for building and retaining web audiences. There’s no one who knows more about it.” Says Mitchell Kapor, Kapor Capital, Lotus Development. It is for these many reasons that Chen is regarded as highly as he is. Chen goes on to explain that in order to see what is coming in the future, we must begin by looking to the past. This may come as a surprise to you, but it actually took 20,30,40, even 50 years for appliances like the phone, refrigerator, and cars to penetrate the majority of American homes. In relation to technology like the smartphone that seems to have more and more capabilities every day. Surpassing that of other modern day technologies. In fact, within the short span of only 10 years’ phones have come from simple gadgets that can track your fitness information to the modest iPhone that can do practically anything. And have you seen the drones available today? The tech industry is ever-expanding with new possibilities; however, it is also repeating history. Working in technology and marketing is enthralling because you are always, there front and center, to see the brilliance and growth of technology. Also, by following early to recent trends of technology and the penetration into American homes, we are able to get some insight into what we may see in the future. One of the more scalable ways to grow your business startup is something you may not expect. When people experience what, you have to offer and then tell their friends about it, we are creating the ‘word of mouth’. If you trust Andrew Chen and what he has to say, then you will understand that getting people talking about your business, product, company, whatever is going to really lift you up and draw in more business. You must also focus on viral marketing and bootstrapping marketplaces. You must understand that these classic type strategies intertwine with our natural behavior. With different technologies emerging like virtual reality and other smart wearables can be traced backward to charts from 100 years ago, It is a fact that what was relevant 100 years ago, will again reign popular in 10,20,50 years!
Andrew Chen is one of Silicon Valley's thought leaders on growth, mobile, and startups in general. His essays on these topics have been featured in New York Times, Wired, and the Wall Street Journal (among many others). Andrew is now working on growth at Uber. In this discussion, Tim Chang, Managing Director of the Mayfield Fund, interviews Andrew about how he thinks about growth, what he has learned from trying different tactics, and how to evaluate the success of growth initiatives.
Recording of the Everything Marketplaces Group Chat #094 (4/5) with Andrew Chen, who's a General Partner at Andreessen Horowitz (a16z). Andrew focuses on marketplace investments at a16z, where they've invested in notable marketplaces like Airbnb, Lyft, Hipcamp, Neighbor, and more. Andrew is a top mind when it comes to marketplaces and is also the author of The Cold Start Problem. 0:05 Intro 1:22 Andrew's background 3:45 Writing The Cold Start Problem 5:34 Initially solving the cold start problem & atomic networks 10:42 How to build & measure strong initial atomic networks 16:05 Thinking through marketplace expansion (categories, new markets, layering on services, etc) 20:06 Examples of marketplace expansion & playbooks 24:25 Key learnings from The Cold Start Problem & tips for early stage marketplace founders 27:30 Group Q&A on timing for marketplace expansion & the pull for launching new categories 31:36 Group Q&A on how to think about defensibility with marketplaces 35:34 Group Q&A on how to quantify community & users without monetization 38:47 Group Q&A on how much to focus on one side of a marketplace early-on 40:51 Group Q&A on adverse selection with marketplaces Follow-up thread for Q&A with Andrew on Twitter: https://twitter.com/Yoroomie/status/1511399144350384128?s=20&t=j2AgkckY7lMZ7i6_4wI83Q Andrew's blog: https://www.andrewchen.com The Cold Start Problem: https://www.coldstart.com a16z: https://www.a16z.com Join other marketplace founders & all of our group chats: http://www.everythingmarketplaces.com
Recording from our Marketplace Chat & Meetup in LA on 6/8/23 with special guests Andrew Chen & Olivia Moore from a16z, along with Aziz Alghunaim from Nash. Join other marketplace founders & leaders in the Everything Marketplaces community: http://www.everythingmarketplaces.com
You may know Andrew Chen as a widely read startup growth strategist, but today he’s investing in his expertise. As a partner at top venture firm Andreessen Horowitz, he is focused on consumer internet companies, seeking out the new growth in this maturing tech sector. Come hear the latest on what he’s seeing in the industry both from the growth and investing perspective. TechCrunch is a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news. Subscribe to TechCrunch today: http://bit.ly/18J0X2e