build a founding team, elect a VC and recruit your board of directors – TechCrunch

Assembling a starter kit is more difficult than assembling 10 IKEA dressers, and the stakes are much, much higher.

Assuming that 90% of startups will fail and the most successful ones take an average of six years to IPO, founders must make careful decisions about who to invite to join the core team.

Will that stellar engineer become a great CTO? Should the person in your product be stubborn or a team player? Are you the best choice for CEO?

ThoughtSpot CEO Sudheesh Nair shared some of his thoughts on building a strong leadership team and wrote a comprehensive checklist for entrepreneurs who are building a team. Your initial advice?

“Investors love founder-CEOs, and founders are often fantastic candidates for this position. But not everyone can do it well, and more importantly, not everyone wants to do it. “

In a related article, Gregg Adkin, vice president and managing director of Dell Technologies Capital, shared the framework you have developed to help founders set up their board.

Choosing the right mix of people can affect everything from fundraising to hiring: “Investors often ask founders about their board of directors. [because] It says a lot about his character, his judgment and his willingness to be challenged, ”he writes.

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Miranda Halpern spoke with Amsterdam coach Ward van Gasteren to our latest growth marketing interview, which is free to read.

In his discussion, van Gasteren addressed the misconceptions about growth hacking, the mistakes most startups are likely to make, and the distinctions he makes between growth hacking and growth marketing:

“Growth hacking is great for driving growth, testing new opportunities, and seeing what tactics work,” he tells us.

“Marketers need to be there to pick up where the growth hackers left off: develop those strategies, maintain customer engagement, and keep tactics fresh and relevant.”

Thank you very much for reading Extra Crunch this week; Hope you have a great weekend.

Walter thompson
Senior Editor, TechCrunch


What Square’s acquisition of Afterpay means for startups

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In his first column since returning to TechCrunch, reporter Ryan Lawler considered the possible repercussions that Square’s purchase of Afterpay could send through the buy-now pond, pay startups.

For comments and perspective, he interviewed:

  • Dan Rosen, Founder and General Partner of Commerce Ventures
  • Jake Gibson, Founding Partner, Better Tomorrow Ventures
  • TX Zhuo, Partner, Fika Ventures
  • Matthew Harris, Partner at Bain Capital Ventures

Investors he spoke with agreed that deferring payments helps boost e-commerce, “but scale matters and long-term margins seem slim for BNPL startups,” Ryan reports.

Enterprise AI 2.0: Acceleration of AI B2B innovation has begun

Robot and humans working together.

Image credits: Ivan Bajic (Opens in a new window) / Fake images

Businesses have been implementing artificial intelligence solutions for 20 years, but few have achieved the outstanding gains in efficiency and profitability promised when the technology first appeared.

But there is a burgeoning new generation of enterprise AI, writes Eshwar Belani, an operating partner at Symphony AI, in a guest column.

“Companies at the forefront of AI innovation have advanced to the next generation, which will define the next decade of big data, analytics and automation: Enterprise AI 2.0.”

Built-in AI, super intelligence, and the master algorithm

Over the next 18 months, a technologist says that the increased adoption of embedded artificial intelligence will pave the way for superintelligence, incredibly powerful software that outshines anything the human mind can produce.

“All the crazy Boston Dynamics videos of robots jumping, dancing, swinging and running are examples of embedded AI,” says Chris Nicholson, founder and CEO of Pathmind, which uses deep reinforcement learning to optimize industrial operations and supply chains. supply.

“The field moves fast and, in this revolution, you can dance.”

Much money and little love: an insurtech story

The Exchange looks at the valuations of insurtech public companies and considers what that means for startups, but from a slightly different perspective.

“Typically, we rely on the new values ​​of the public neoinsurance companies and use that data to make an assumption about what the price drop might mean for the related new companies,” writes Alex Wilhelm. “Taking data from the public market and using it to better understand private markets is practically the national pastime of this column.

“Not today.”

5 Factors Founders Should Consider Before Choosing Their VC

Image of a watering can pouring money into light bulbs to represent a venture capitalist's choice.

Image credits: Anastasia (Opens in a new window) / Fake images

The fact that the globe flooded Venture capital should not be news to readers of this newsletter.

For founders, it means more than fat checks, writes Kunal Lunawat, co-founder and managing partner of Agya Ventures, in a guest column.

“It would be nice for the founders to go back to basics and focus on fundraising principles when determining who sits on their boundary table.”

Neobanks moves towards profitability could be the way to public markets

Alex Wilhelm reviews the results of Starling Bank and Monzo to see what the latest financial figures from neobanks say about the health of neobanks in general.

“While some neobanks are managing to clean up their ledgers and work for profit, or profitability, not all are in the black,” he says.

But among those who are?

“At least some part of the neo-banking world is financially stable enough to consider public offerings.”

Founders must learn to build and maintain circles of trust with investors.

Human crowd surrounding three people on white background.

Image credits: MicroStockHub (Opens in a new window)/ Fake images

The red-hot venture capital market may give founders many investors to choose from, but the most important thing (if you can be picky) is being able to trust and trust your investors, write Matt Cohen of Ripple Ventures and Tony Conrad of True. in a guest column.

“This … new dynamic is forcing founders to be extremely selective about exactly who is sitting around their mentoring table,” they write.

“It is simply not possible to have numerous deep and meaningful relationships to extract maximum value in the early stage from seasoned investors.”

What is the role of the board in an early stage startup?

Image of a whiteboard illustration of a board meeting.

Image credits: Digit A (Opens in a new window) / Fake images

Assembling a board of directors isn’t simply about finding people who can help you on your early-stage journey, writes Gregg Adkin, vice president and CEO of Dell Technologies Capital, in a guest column.

The composition of the board can also affect your fundraising.

“Investors often ask founders about their board [because] It says a lot about his character, his judgment and his willingness to be challenged, ”he writes.

Adkins offers a framework he calls “SPIFS,” for strategy, people, image, finance, and compliance systems, to help founders establish a board.

Do bronze medals ever make sense for unicorns?

In the wake of Deliveroo’s plans to exit the Spanish market after the country passed legislation that required companies that depend on workers to hire employees, Alex Wilhelm wondered about the battle for smaller markets and whether the third place is enough.

“A company exiting a market is not a big deal, but we were curious about Deliveroo’s comments on the need for market leadership, or something close, to ensure continued investment,” he writes for The Exchange.

“Is this the common reality for startups struggling for market position, regardless of whether those markets are cities or countries?”

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