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Cyan Banister

๐Ÿ‘ค Speaker
692 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

That's their biggest value proposition, which is they will not mess with you once they've invested in you. That seems like Kind of a simple thing to hang your hat on, but it's actually in the end comes down to be incredibly important as they think that the soul and the spirit of the company lives in the founder.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

That's their biggest value proposition, which is they will not mess with you once they've invested in you. That seems like Kind of a simple thing to hang your hat on, but it's actually in the end comes down to be incredibly important as they think that the soul and the spirit of the company lives in the founder.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Yeah, my philosophy isn't quite as far as Founders Funds. Founders Fund is like, we invested in you and now you're on your own and it's your job to extract value from us. A certain founder loves that because they know how to get value. They look at that group of people and they know who they're connected to and they know what to ask for.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Yeah, my philosophy isn't quite as far as Founders Funds. Founders Fund is like, we invested in you and now you're on your own and it's your job to extract value from us. A certain founder loves that because they know how to get value. They look at that group of people and they know who they're connected to and they know what to ask for.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

We are a little bit to the left of that if they were on the far end of the spectrum. We are more hospitality oriented because I think at the seed stage, being hospitality oriented is important. What that means is one of our values is be a bubby. Bubbies are grandmothers who give you hard advice, but they love you.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

We are a little bit to the left of that if they were on the far end of the spectrum. We are more hospitality oriented because I think at the seed stage, being hospitality oriented is important. What that means is one of our values is be a bubby. Bubbies are grandmothers who give you hard advice, but they love you.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

And so our job is to give honest feedback to the founders, but give them unconditional love. What a founder needs to hear is the hard stuff. They need to hear like, you're not performing compared to the rest of our portfolio companies of the same vintage, maybe in the same space, or this person you've hired is probably not cutting it.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

And so our job is to give honest feedback to the founders, but give them unconditional love. What a founder needs to hear is the hard stuff. They need to hear like, you're not performing compared to the rest of our portfolio companies of the same vintage, maybe in the same space, or this person you've hired is probably not cutting it.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

The other thing is to letting them know when they have done amazing things that you notice and giving that feedback, just like a Bubby would do. Then being there for them in the hard times, because the one thing that all CEOs are afraid of is really revealing all their cards to investors because it could backfire. That's why they always say it's always up and to the right. Everything's great.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

The other thing is to letting them know when they have done amazing things that you notice and giving that feedback, just like a Bubby would do. Then being there for them in the hard times, because the one thing that all CEOs are afraid of is really revealing all their cards to investors because it could backfire. That's why they always say it's always up and to the right. Everything's great.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

We're killing it. And then you later on find out that's not really the case. If you can form a true relationship with your founders, they're going to tell you when things are not going right because they want you to lean in and help. We want to be there

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

We're killing it. And then you later on find out that's not really the case. If you can form a true relationship with your founders, they're going to tell you when things are not going right because they want you to lean in and help. We want to be there

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

When you've had a loss in the family, we want to be there when your best friend, something happened to them because we are human beings at the end of the day, it's a mental game. So we do a lot of things around like mental coaching and presence of mind and things like that with our founders. We think that all the rest of it is got to be a core competency of the company, right?

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

When you've had a loss in the family, we want to be there when your best friend, something happened to them because we are human beings at the end of the day, it's a mental game. So we do a lot of things around like mental coaching and presence of mind and things like that with our founders. We think that all the rest of it is got to be a core competency of the company, right?

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Like we're not going to help with marketing. We're not going to help with hiring or any of these things, unless we have a candidate that lands on our lap. And then we do place them in companies. We absolutely do do that, but we're not going to go out and be recruiters. All of that needs to be core to your business. And I think that's what truly matters, especially at the early stages.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Like we're not going to help with marketing. We're not going to help with hiring or any of these things, unless we have a candidate that lands on our lap. And then we do place them in companies. We absolutely do do that, but we're not going to go out and be recruiters. All of that needs to be core to your business. And I think that's what truly matters, especially at the early stages.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

So I was talking to Justin and my partner and they said, you really should look into IFS and try it out. So then I tried it out and I went in skeptical and came out realizing, oh my gosh, how amazing is that? For people that don't know what IFS is, you basically view all your parts of your personality as there are no bad parts involved.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

So I was talking to Justin and my partner and they said, you really should look into IFS and try it out. So then I tried it out and I went in skeptical and came out realizing, oh my gosh, how amazing is that? For people that don't know what IFS is, you basically view all your parts of your personality as there are no bad parts involved.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Every part is there to serve you, including the ones you might not like. And they come online to serve you because they're trying to defend you and protect you, yourself, that's underneath all of that stuff.

Invest Like the Best with Patrick O'Shaughnessy
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, CLASSICS]

Every part is there to serve you, including the ones you might not like. And they come online to serve you because they're trying to defend you and protect you, yourself, that's underneath all of that stuff.