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David Frankel

πŸ‘€ Speaker
723 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

But the first thing is legal and you go, what's this actually about? And sometimes the answer is, I don't want you in business. I do not want you in the sector and I'm going to use all my heft. And then sometimes it's about like, I want my pound of flesh. But I do think this is an area where VCs, by any stage VC can add a lot of value. So if you go, look, this is going to happen to you.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

But the first thing is legal and you go, what's this actually about? And sometimes the answer is, I don't want you in business. I do not want you in the sector and I'm going to use all my heft. And then sometimes it's about like, I want my pound of flesh. But I do think this is an area where VCs, by any stage VC can add a lot of value. So if you go, look, this is going to happen to you.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

But the first thing is legal and you go, what's this actually about? And sometimes the answer is, I don't want you in business. I do not want you in the sector and I'm going to use all my heft. And then sometimes it's about like, I want my pound of flesh. But I do think this is an area where VCs, by any stage VC can add a lot of value. So if you go, look, this is going to happen to you.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Here are, this is the way the game is played. Here are the lobbyists, here are the lawyers, here are the PR consultants, and here's how you're going to have to use your money. I don't know. It's like war. Air, land, sea. And that's how you win. So you take TJ speaking to Mikey Shulman at Suno going, this is the playbook. This is the only way you resolve this.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Here are, this is the way the game is played. Here are the lobbyists, here are the lawyers, here are the PR consultants, and here's how you're going to have to use your money. I don't know. It's like war. Air, land, sea. And that's how you win. So you take TJ speaking to Mikey Shulman at Suno going, this is the playbook. This is the only way you resolve this.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Here are, this is the way the game is played. Here are the lobbyists, here are the lawyers, here are the PR consultants, and here's how you're going to have to use your money. I don't know. It's like war. Air, land, sea. And that's how you win. So you take TJ speaking to Mikey Shulman at Suno going, this is the playbook. This is the only way you resolve this.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Do these companies inherently need to have more cash then? They do. They do. By the way, you can have all the cash you want, you can have all the strategies you want. The first thing you need is customers that absolutely love and adore you. If you don't have customers that love you, what are you doing this whole thing for?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Do these companies inherently need to have more cash then? They do. They do. By the way, you can have all the cash you want, you can have all the strategies you want. The first thing you need is customers that absolutely love and adore you. If you don't have customers that love you, what are you doing this whole thing for?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

Do these companies inherently need to have more cash then? They do. They do. By the way, you can have all the cash you want, you can have all the strategies you want. The first thing you need is customers that absolutely love and adore you. If you don't have customers that love you, what are you doing this whole thing for?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So if you don't have actual, and I would say this is SeatGeek, PillPack, Suno, Like every one of those companies had customers, their revenues were increasing because, and that's why they're a pen in the ass to the incumbents is the incumbents go, oh my God, like customers are actually going there. Like what's this thing about? And usually they don't have their shit together, right?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So if you don't have actual, and I would say this is SeatGeek, PillPack, Suno, Like every one of those companies had customers, their revenues were increasing because, and that's why they're a pen in the ass to the incumbents is the incumbents go, oh my God, like customers are actually going there. Like what's this thing about? And usually they don't have their shit together, right?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So if you don't have actual, and I would say this is SeatGeek, PillPack, Suno, Like every one of those companies had customers, their revenues were increasing because, and that's why they're a pen in the ass to the incumbents is the incumbents go, oh my God, like customers are actually going there. Like what's this thing about? And usually they don't have their shit together, right?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So the incumbent is like playing for time or just like going like, I want this to happen when I want this to happen.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So the incumbent is like playing for time or just like going like, I want this to happen when I want this to happen.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

So the incumbent is like playing for time or just like going like, I want this to happen when I want this to happen.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

And actually, you could say, really, what is Spotify? It's just another distribution mechanism. In some ways, that's just another way of distributing music. The recording industry, the publishers, the owners, they didn't love when CDs disrupted LPs or when tapes happened to CDs. And in a way, all Spotify, it's a Herculean outcome.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

And actually, you could say, really, what is Spotify? It's just another distribution mechanism. In some ways, that's just another way of distributing music. The recording industry, the publishers, the owners, they didn't love when CDs disrupted LPs or when tapes happened to CDs. And in a way, all Spotify, it's a Herculean outcome.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

And actually, you could say, really, what is Spotify? It's just another distribution mechanism. In some ways, that's just another way of distributing music. The recording industry, the publishers, the owners, they didn't love when CDs disrupted LPs or when tapes happened to CDs. And in a way, all Spotify, it's a Herculean outcome.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

But if you look at how much of their revenue the record labels actually take, Suno is something very, very different. This is where AI is fascinating and really interesting. It allows Harry, basically it's the breadth of your creativity. If you're creative, I will give you the most professional tools that the best DJ in the world has. You've got that on your phone now.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

But if you look at how much of their revenue the record labels actually take, Suno is something very, very different. This is where AI is fascinating and really interesting. It allows Harry, basically it's the breadth of your creativity. If you're creative, I will give you the most professional tools that the best DJ in the world has. You've got that on your phone now.