Gil Penchina
Founder of Flight.vc and super angel. Co-founder Fastly and Vouch.
Discussion
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Gil Penchina
@gil_penchina
I view the world as an entrepreneur - even though our 20+ AngelList syndicates has forced me into more of an investor role. Back me at https://angel.co/penchina/syndicate to see our deals. Topics I'd like to chat about today include what to look for in a startup and what it takes to raise an angel round today. Ask away!
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Sam Couch
@samuelcouch · Engineer // People Person
What tools do you wish existed for VC? What tools do you currently use? (for sourcing deals, managing portfolio, etc)
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Gil Penchina
@gil_penchina
@samuelcouch I would love to have one place to go to get all sorts of "secret" data on companies - like their sales, traffic, hiring, costs, etc. Most of that data exists somewhere (vendors, google, visa)
Austin Teague
@austin_teague · Full-Stack Marketer and Entrepreneur
@gil_penchina I hate plugging startups to investors but you should check out Fortuos.io. They are looking to do exactly what you want.
COSTAS ANDRIOPOULOS
@candriopoulos · https://medium.com/strictly-curious
How do you find industry experts to talk to so that you stay up-to-date (and advise your portfolio companies)?
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Gil Penchina
@gil_penchina
@candriopoulos I start with the industry conferences - and blogs. Honestly not that sophisticated :-)
COSTAS ANDRIOPOULOS
@candriopoulos · https://medium.com/strictly-curious
@gil_penchina Thank you very much for your responses. I appreciate it. Which are the industry conferences that you always attend and blogs that you regularly read?
COSTAS ANDRIOPOULOS
@candriopoulos · https://medium.com/strictly-curious
Hello Gil, thanks for taking our questions. Where do you look for emerging trends (e.g. sources, events, websites, etc.) and how do you pick ventures in nascent industries?
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Gil Penchina
@gil_penchina
@candriopoulos Honestly so many sources - Conferences, News Media, Experts in various fields - but most important is meeting startups and seeing what's actually working vs what is a dream. Media doesn't actually know what's going to happen, they just predict by guessing :-)
Austin Teague
@austin_teague · Full-Stack Marketer and Entrepreneur
@gilpenchina Thanks for joining today. You are a notable investor on AngelList, what do you look for when choosing what startups to invest in with your syndicate?
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Gil Penchina
@gil_penchina
@austin_teague @gilpenchina It honestly depends on the sector. In consumer - growth. In Saas, revenues and CAC/LTV
Jake Crump
@jakecrump · Community Team with Product Hunt
What does a typical day look like for you?
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Gil Penchina
@gil_penchina
@jakecrump Meetings, email, meetings, conference, meetings. Investors are constantly soaking up information about the environment and what's working and you should assume when you pitch them that they're comparing you to something else they looked at last week
Hugo Filipe Ribeiro
@hugofiliper · Co-Founder | Magikbee
Hi Gil! Recently I saw a quote from an investor saying that the "next big thing in tech is going to look like a toy.". What's your view on the connected toys market? Thanks
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Gil Penchina
@gil_penchina
@hugofiliper it might look like a toy. Not clear to me toys are the market though. You can argue an iPhone is a toy. That's the way my son uses it... For videogames
But I'm not bullish on toys per se
Hugo Filipe Ribeiro
@hugofiliper · Co-Founder | Magikbee
@gil_penchina as I see, everything starts to be connected and toys are no exception. I believe that is an opportunity to change a market that is still quite unexplored. :) perhaps my vision is related to the fact I'm the Co-founder of a connected toy startup :)
Syed Ahmed
@tabishis · Altimus Solutions, Inc.
Do you think MOOCs will eventually replace traditional learning, specifically tech focused learning? Do you invest in products that are focused on solving problems for MOOC students?
Corey Hubbard
@corey_hubbard · Founder - DreamHighr
Hi Gil! I appreciate your time today and I wanted to ask should a first-time pre-seed stage founder concentrate solidifying her P&L or building for growth in the current environment?
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Gil Penchina
@gil_penchina
@corey_hubbard Focuse on getting customers obsessed with the product
Corey Hubbard
@corey_hubbard · Founder - DreamHighr
@gil_penchina Got it! Thanks a Million!
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Gil Penchina
@gil_penchina
@corey_hubbard If it's really an economics question - you want to learn/be able to explain your unit economics. Not the P+L
Thomas Stöcklein
@tomstocklein · FoundersFundersFuture.com
On being an angel investor
1) How do you evaluate new potential investments?
2) What are your favorite verticals/sectors?
3) What are some investments you missed/didn't see the potential at the time?
4) You've been investing as an angel for almost 18 years now. How has angel investing evolved over time in terms of a) deal economics b) identifying the best deals c) the people you're working with d) other things
5) Are there any verticals or sectors you do not invest in / are bearish on?
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Gil Penchina
@gil_penchina
@tomstocklein
1) How do you evaluate new potential investments?
FOUNDERS, MARKET POTENTIAL, PRODUCT/GROWTH
2) What are your favorite verticals/sectors?
WE DO A TON OF CONSUMER, SAAS AND MARKETPLACES
3) What are some investments you missed/didn't see the potential at the time?
I PASSED ON INSTACART IN THE SERIES A
4) You've been investing as an angel for almost 18 years now. How has angel investing evolved over time in terms of a) deal economics b) identifying the best deals c) the people you're working with d) other things
THE DEALS ARE MUCH MORE EXPENSIVE, AND THERE ARE WAAAAAY MORE STARTUPS NOW THAN THERE WERE IN THE LATE 90'S SO SORTING THROUGH THE NOISE IS A LOT HARDER
5) Are there any verticals or sectors you do not invest in / are bearish on?
REGULATED AREAS (ED, HEALTH, ETC)