How is He Managing $1.2 Billion Dollars? | The Consumer VC

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RockSinCity
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Our guest today is Ben Lerer, Managing Partner at Lerer Hippeau

Ben Lerer is an experienced founder with a demonstrated history of working in the online media industry. Skilled in Digital Strategy, Marketing Strategy, Digital Marketing, Social Media, and Online Marketing. Right now he is the Managing Partner at Lerer Hippeau.

We discuss:
• Why he sold his company to Vox Media?
• Why did he transition from founder to VC full-time?
• How did the New York startup ecosystem evolve?
• What New York was known for? & What is known for now?
• What's the goal when he actually backs a company?

Thank you to our Partner –– Propeller Industries – https://www.propellerindustries.com/
Propeller Industries is the leading strategic finance and accounting partner for venture-stage companies. For more info:
(22:05) - Propeller Industries

0:00 - Introduction
3:43 - The Ups and Downs of Venture Investing
6:03 - The Challenges of Being a Venture Investor in Today's Market
8:18 - The Evolution of New York's Startup Ecosystem
10:01 - Changes in the Opportunity Landscape for Inventory Holding Consumer Businesses
13:29 - The Challenges of Building a SaaS Business
16:03 - The Importance of Investing Wisely in a Business
22:05 - Propeller Industries
23:06 - Understanding the Size and Strategy of Seed Funds
26:41 - Discussing the Balance Between Concentration and Diversification in Investments
31:04 - The Unpredictability of Early Breakout Companies
35:00 - The Strategy of Chasing Talent Over Specific Categories
36:04 - How Environmental Changes Lead to Business Opportunities and Risks
40:04 - The importance of personal passion in entrepreneurship
42:34 - Recognizing similar traits in successful people
44:20 - The shift towards product-focused companies
46:01 - The value of outlier talent in any field
48:06 - The importance of betting on people early in business
49:00 - The role of AI in content creation and media businesses
50:49 - Concerns about the future job market with AI advancements
52:41 - Outro

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