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Mark Suster of Los Angeles' GRP Partners is known for his unique insights on the tech and digital media worlds, having famously had success on "both sides of the table" as a repeat entrepreneur turned investor over nearly two decades in the industry. And he hit headlines several times this past week, with his viewpoints on acqui-hires (he says they're often very bad) and founders stepping down from the CEO role such as what happened with GRP portfolio startup Awe.sm (he says sometimes, it's the best thing that can happen.) Colleen Taylor talks to Mark Suster of GRP Partners about acqui-hires and when it's time to step down as CEO of a company. Subscribe to TechCrunch today: http://goo.gl/eg167
In this exclusive interview between a CEO and its VC, Mark Suster, Managing Partner at Upfront Ventures, is joined by Sarah Dorsett, CEO at Nanit, as they discussed: - What are challenges that every tech business needs to overcome? - How has the pandemic created innovation and efficiencies in tech? - How have management teams operated and adapted during the pandemic? - What are founders looking for when trying to attract PE capital post-VC investment? - How do GPs build a great relationship with a founder-CEO? For more on SuperTechnology North America, visit our website: www.supertechnologynorthamerica.com For more event catch-ups and exclusive content, visit our content hub: www.superreturn.com
Mark Suster Interview - Mark is an entrepreneur and venture capitalist. He’s a 2 time entrepreneur and sold both his companies and one of them he sold to Salesforce. Mark is a managing partner at Upfront Ventures, the largest venture capital firm in Los Angeles, with $2 billion in total raised funds. Mark is a prominent blogger in the startup venture capital world and created the blog, Both Sides of the Table. - The Opening of the 2023 Upfront Summit: https://youtu.be/DzIzZe0_h4U - My Personal Website: https://www.ochakde.com/ My Company Website: https://www.3doshas.com/ Reach out to me: info.ochakde@gmail.com Follow Me on Instagram: https://www.instagram.com/sachin_syal23/ - Music: Walz & Aftab Makes Instrumentals
Mark Suster is an entrepreneur, angel investor, blogger, Techstars mentor, and investment partner at GRP Partners, joining them in 2007 after having worked with the firm for nearly 8 years as a two-time entrepreneur. Most recently Mark was Vice President of Product Management at Salesforce.com following its acquisition of Koral, where Mark was Founder and CEO. Prior to Koral, Mark was Founder and CEO of BuildOnline, the largest independent global content collaboration company focused on the engineering and construction sectors, which was acquired by SWORD Group (PARIS: SWP). Earlier in his career, Mark spent nearly ten years working for Accenture in Europe, Japan and the U.S. Mark is no stranger to Startup Grind; he was a featured speaker at Startup Grind 2013, where he interviewed Clayton Christensen. Our conversation will cover, among other things, Mark's recognize disruptive opportunities, building outstanding teams, and avoiding the common pitfalls that stand in the way of startups getting funding. For more information visit http://StartupGrind.com or follow us on twitter @StartupGrind. ***Startup Grind is an event series and website designed to help educate, inspire, and connect local entrepreneurs. Each month we welcome an amazing speaker who shares their story with our community and tells us what worked, what didn't, and what they'll do differently next time. It's an amazing opportunity to learn from the best, network with other members of the startup community, and improve your chances of entrepreneurial success.
http://realleaders.tv/p/mark-suster/
http://realleaders.tv/p/mark-suster/
Mark Suster has the monkey off his back. Nearly seven years into his career in venture capital, he's seen some amazing returns this year. AOL acquired Gravity for $90m. Apple picked up Burstly, the company behind Test Flight). Not least: Maker Studios sold to Disney for $500m. In this candid interview Mark goes long on both Maker - despite the popular perception that it was quickly running out of steam - and YouTube, even as it stands by its 55-45 revenue split with content creators. Who will be next out of the gate with video? His top picks are Amazon, followed by Twitter and Facebook in a tie. Plus, when to bootstrap, and a little history lesson on surviving hard times, informed by the financial crisis and Genghis Khan (no, really). Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV) Follow on Twitter: @msuster @upfrontvc ============== Thanks to our sponsors. Click here to tweet your support (can edit before sending): http://ctt.ec/d0z7S Scott Walker at Walker Corporate Law. Scott loves startups and shows it, with fixed-fee pricing. Have a question? Email him directly, scott@walkercorporatelaw.com, and tell him Jason sent you. and by New Relic. Now with New Relic Insights. Ask real language questions to get really smart answers about your business. Sign up at http://newrelic.com/twist to try it out and get your free This Week in Startups tshirt! ============== Follow on Twitter: @jason @twiStartups Launch Ticker: http://launch.co Launch Festival: http://festival.launch.co Special thanks to the members of the TWiST Backchannel Program! Highlights: 00:33 - cold open 1:23 - intro 2:58 - MS: I've been a VC since 2007. Going on 7 years. I actually didn't write a check for a year and a half. 4:08 - JC: People don't remember exactly how bad it was. What's the effect on a VC? 5:30 - JC: what should be in that plan? 5:31 - MS: avoid fixed costs you can't get out of. What I like to tell people is raise money when it's available. 11:30 - Walker ad read - 13:20 - MS: First, people get caught on "are you losing money?" there's a tension between growth and profit. Investors only care about growth and margin. 14:25 - MS: At Maker we have 50 engineers. Do the math. The company was on a 9-figure revenue run rate. I believe it's the fastest company growing in LA. 16:40 - JC: Why sell the company if growing this well? 16:55 - MS: Here's a company that acquired Marvel, Pixar, etc. It owns some of the best assets in the world and when that company says "we've decided that shortform video is tremendously important to the future of the company," you take the call. 18:05 - JC: It felt like YouTube didn't want the MCNs to exist anymore. When you're an investor and you see YouTube stealing...what are board meetings like? 19:35 - MS: I look at it differently. YouTube bought Next New Networks. They want to serve creators directly. YouTube has no problem if 50% of our business is on YouTube. You need to fish where all the fish are, and they're all on YouTube. 22:40 - JC NewRelic ad read - 24:40 - JC: You sound magnanimous. You were frustrated with YouTube. 24:53 - MS: I'm always nuanced, so let me say I will invest more in YouTube. 26:05 - JC: Who would you most like to see get into the video business and take YouTube headon? 28:00 - JC: Don't you think they should have given a better deal to Maker than anyone off the street with a cat video? 28:15 - MS: I think one should get volume discounts....they'll hold their ground until they have competition. I believe it'll be here in the next 2 or 3 years. 29:28 - MS: The next obvious competitors are Twitter and Facebook in my mind. 30:04 - MS: Think about why video-based retail. [.....] If you put something in YouTube, it's in a YouTube wrapper. It's only a matter of time before that video is outside of its wrapper on FB or TWitter and they are going to sell the pre-roll. 31:28 - JC: Ellen. What impact would she, moving to Twitter's platform, have? 32:25 - MS: Not an if, it's a when. Competition is good for all of us. Competition drives innovation. Imagine a world in which there was only an iPhone and no Android. Apple is like China. 37:45 - MS: I would call the exits doubles. Gravity acquired by AOL. I would say I've had exits but Maker has returned significantly more than all the investments I've done in 5 years. 53:31 - MS: EntrepreneurShit. What I've tried to do is to give the realism of startups. 56:20 - MS: The job of the CEO is to be chief psychologist. People will fight. I've noticed with some of my companies in super stressful times that I've had to pull them out emotionally and lift them up. 57:33 - JC: What's the most common fight between co-founders? 1:00:52 - video question 1:01:35 - Should someone w/ a functional team, product, clients go to accelerator or funding? 1:02:40 - JC: What do you wish you'd known when you started? 1:09:33 - How much money does a VC make? 1:12:03 - close
Mark Suster has the monkey off his back. Nearly seven years into his career in venture capital, he's seen some amazing returns this year. AOL acquired Gravity for $90m. Apple picked up Burstly, the company behind Test Flight). Not least: Maker Studios sold to Disney for $500m. In this candid interview Mark goes long on both Maker - despite the popular perception that it was quickly running out of steam - and YouTube, even as it stands by its 55-45 revenue split with content creators. Who will be next out of the gate with video? His top picks are Amazon, followed by Twitter and Facebook in a tie. Plus, when to bootstrap, and a little history lesson on surviving hard times, informed by the financial crisis and Genghis Khan (no, really). Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV) Follow on Twitter: @msuster @upfrontvc ============== Thanks to our sponsors. Click here to tweet your support (can edit before sending): http://ctt.ec/d0z7S Scott Walker at Walker Corporate Law. Scott loves startups and shows it, with fixed-fee pricing. Have a question? Email him directly, scott@walkercorporatelaw.com, and tell him Jason sent you. and by New Relic. Now with New Relic Insights. Ask real language questions to get really smart answers about your business. Sign up at http://newrelic.com/twist to try it out and get your free This Week in Startups tshirt! ============== Follow on Twitter: @jason @twiStartups Launch Ticker: http://launch.co Launch Festival: http://festival.launch.co Special thanks to the members of the TWiST Backchannel Program! Highlights: 00:33 - cold open 1:23 - intro 2:58 - MS: I've been a VC since 2007. Going on 7 years. I actually didn't write a check for a year and a half. 4:08 - JC: People don't remember exactly how bad it was. What's the effect on a VC? 5:30 - JC: what should be in that plan? 5:31 - MS: avoid fixed costs you can't get out of. What I like to tell people is raise money when it's available. 11:30 - Walker ad read - 13:20 - MS: First, people get caught on "are you losing money?" there's a tension between growth and profit. Investors only care about growth and margin. 14:25 - MS: At Maker we have 50 engineers. Do the math. The company was on a 9-figure revenue run rate. I believe it's the fastest company growing in LA. 16:40 - JC: Why sell the company if growing this well? 16:55 - MS: Here's a company that acquired Marvel, Pixar, etc. It owns some of the best assets in the world and when that company says "we've decided that shortform video is tremendously important to the future of the company," you take the call. 18:05 - JC: It felt like YouTube didn't want the MCNs to exist anymore. When you're an investor and you see YouTube stealing...what are board meetings like? 19:35 - MS: I look at it differently. YouTube bought Next New Networks. They want to serve creators directly. YouTube has no problem if 50% of our business is on YouTube. You need to fish where all the fish are, and they're all on YouTube. 22:40 - JC NewRelic ad read - 24:40 - JC: You sound magnanimous. You were frustrated with YouTube. 24:53 - MS: I'm always nuanced, so let me say I will invest more in YouTube. 26:05 - JC: Who would you most like to see get into the video business and take YouTube headon? 28:00 - JC: Don't you think they should have given a better deal to Maker than anyone off the street with a cat video? 28:15 - MS: I think one should get volume discounts....they'll hold their ground until they have competition. I believe it'll be here in the next 2 or 3 years. 29:28 - MS: The next obvious competitors are Twitter and Facebook in my mind. 30:04 - MS: Think about why video-based retail. [.....] If you put something in YouTube, it's in a YouTube wrapper. It's only a matter of time before that video is outside of its wrapper on FB or TWitter and they are going to sell the pre-roll. 31:28 - JC: Ellen. What impact would she, moving to Twitter's platform, have? 32:25 - MS: Not an if, it's a when. Competition is good for all of us. Competition drives innovation. Imagine a world in which there was only an iPhone and no Android. Apple is like China. 37:45 - MS: I would call the exits doubles. Gravity acquired by AOL. I would say I've had exits but Maker has returned significantly more than all the investments I've done in 5 years. 53:31 - MS: EntrepreneurShit. What I've tried to do is to give the realism of startups. 56:20 - MS: The job of the CEO is to be chief psychologist. People will fight. I've noticed with some of my companies in super stressful times that I've had to pull them out emotionally and lift them up. 57:33 - JC: What's the most common fight between co-founders? 1:00:52 - video question 1:01:35 - Should someone w/ a functional team, product, clients go to accelerator or funding? 1:02:40 - JC: What do you wish you'd known when you started? 1:09:33 - How much money does a VC make? 1:12:03 - close
On this week's episode of the LA Venture podcast, hear from Mark Suster, managing partner at Upfront Ventures, as he explains why he thinks the best time to talk to founders about fundraising is three to four months after their last fundraise. Mark Suster is the managing partner at Upfront. He previously was the founder and CEO of two successful enterprise software companies, the most recent of which was sold to Salesforce.com where Mark became vice president of products. Prior to being a founder, Mark was a software developer at Accenture where he lived and worked in Europe, Japan and the U.S. Mark is a graduate of UCSD and has an MBA from the University of Chicago. To listen to the full interview visit : tenoneten.net/podcast