Jeremy Liew Profile Banner
Jeremy Liew Profile
Jeremy Liew

@jeremysliew

32,278
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Partner at @LightspeedVP . Investor in @Snap , @Giphy , @Affirm , @Blockchain , @Honest , @Cheddar , @Rothys ++ Immigrant Overcompensating for a geeky youth

san francisco
Joined March 2009
Don't wanna be here? Send us removal request.
@jeremysliew
Jeremy Liew
4 years
I came to the US on an h1b visa. I’d like to think I’ve been a net positive for the country. RT if you or a family member are also an immigrant who has been net positive for the US
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@jeremysliew
Jeremy Liew
6 years
This thread is an amazing demonstration of @elonmusk brilliant mind but could the conversation have happened better over I dunno a phone?
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@jeremysliew
Jeremy Liew
2 years
@drewsanocki better clenched than loose
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@jeremysliew
Jeremy Liew
7 years
When a consumer market is new, distribution wins. As consumer become educated, product wins. When products reach parity, brand wins.
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@jeremysliew
Jeremy Liew
7 years
"Success is no accident. It is hard work, perseverance, learning, sacrifice & most of all, love of what you are doing." - Pele
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@jeremysliew
Jeremy Liew
5 years
1/32 Mary Meeker’s 2019 internet trends report deck is always a must read on consumer internet, SaaS, and the general economy. I made some notes on it as I always do. It’s the 31 pages of the 300+ page report that are most relevant to me. Here they come…
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@jeremysliew
Jeremy Liew
5 years
At a startup, title is the cheapest form of compensation.
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@jeremysliew
Jeremy Liew
3 years
@AmyChanta Same. It's why we send our kids to a chinese immersion school; we can't teach them and we want them to know how to speak since we never got the opportunity to (and opted out for the same reasons you did truth be told)
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@jeremysliew
Jeremy Liew
7 years
Don't raise seed to hire a CTO. Your ability to recruit a tech cofounder is a test of your entrepreneurialism & the quality of your idea.
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@jeremysliew
Jeremy Liew
4 years
In checkout line at Safeway: Me (to person standing right behind me): Excuse me, would you mind moving further away Her: Why? I'm not sick! Me: Maybe I am. That's the point Her: <Moves to another line>
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@jeremysliew
Jeremy Liew
6 years
. @Blockchain added 120k+ new users yesterday (that’s more than the population of Berkeley!) and sent 6X Venmo's transaction volume. This #bitcoin thing. I thinks it’s going to be big...
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@jeremysliew
Jeremy Liew
3 years
Thank you to my friends on twitter who have spoken up against the violence against Asians. I am paying attention to who cares and who does not.
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@jeremysliew
Jeremy Liew
4 years
A decade ago I was doing the same job at the same firm, living in the same house and married to the same woman as today. I do have a new car though. So that’s progress!
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@jeremysliew
Jeremy Liew
4 years
I have no respect for men who bully women, whether those women are journalists for the NY Times or heads of state of allied countries. None.
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@jeremysliew
Jeremy Liew
7 years
Consumer tech is now popular culture. And popular culture in the US is largely created in NY and LA, not Silicon Valley.
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@jeremysliew
Jeremy Liew
5 years
Was telling an entrepreneur today that VCs aren't stupid, but we are ignorant. We don't understand the nuances of your business as well as you do, but we can grasp the key things we need to believe to invest. So if we ask the wrong question to that end, help us ask the right ones
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@jeremysliew
Jeremy Liew
4 years
My 80 yo father in law who has been a US citizen for decades was walking near our house yesterday when a middle aged white man pulled over to tell him “Go back to your place. You don’t belong here. You’re not wanted here”. So that’s making America great again.
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@jeremysliew
Jeremy Liew
4 years
6% to 16% ecomm market share took 10 years 16% to 27% took 2 months It won't all be going back post quarantine. New habits are getting established
@2PMinc
2PM
4 years
10 years vs. 8 weeks
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@jeremysliew
Jeremy Liew
4 years
I learned something new over quarantine. First ring muscle up ever today! Today is a good day!
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@jeremysliew
Jeremy Liew
4 years
1/ Why do people look at LTV/CAC? It informs eventual steady state profitability. LTV = cumulative contribution margin (often over 3 years) CAC = fully loaded customer acquisition cost (media + other marketing costs) If LTV<CAC you're losing money on each customer. (thread)
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@jeremysliew
Jeremy Liew
6 years
Good advice for how to deal with a setback: "I decided I can’t pay a person to rewind time, so I may as well get over it." - Serena Williams
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@jeremysliew
Jeremy Liew
4 years
In most meetings, no one wants to take notes/minutes. They don't realize that the person who controls the pen dictates what happened.
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@jeremysliew
Jeremy Liew
3 years
1/10 Today @Affirm is going public. It’s the next step in the company’s journey and the culmination of years of hard work from @mlevchin and team. I’ve been lucky to get a front row seat on that journey.
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@jeremysliew
Jeremy Liew
7 years
If you want to know what it's like to raise VC, watch @PlanetoftheApps to find out. We made real investments.
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@jeremysliew
Jeremy Liew
3 years
Today is 15 years at @lightspeedvp ! Am grateful to @ravi_lsvp @BarryEggers @peterlsvp & Chris for giving me the opportunity, and to my teammates @Nik_Quinn @ataussig @janamal @AshleyBrasier & @mercebent for building a consumer franchise. We're just getting started!
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@jeremysliew
Jeremy Liew
5 years
This should be fine.
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@jeremysliew
Jeremy Liew
6 years
The conclusion of a study trying to correlate IQ with success: “High but not the highest intelligence, combined with the greatest degree of persistence, will achieve greater eminence than the highest degree of intelligence with somewhat less persistence.”
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@jeremysliew
Jeremy Liew
7 years
10 years ago kids saw their 1st car as the vehicle for freedom and independence. Today it is their 1st smartphone. Independence at 10 not 16
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@jeremysliew
Jeremy Liew
6 years
"If your plan is for one year plant rice. If your plan is for ten years plant trees. If your plan is for one hundred years educate children." - Confucius
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@jeremysliew
Jeremy Liew
4 years
Incredibly responsible to acknowledge when they couldn’t see a path and return capital to investors and time to the team. Would be much worse for all concerned to push a rock uphill without hope of reaching the top until it rolled back down and crushed the company.
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@jeremysliew
Jeremy Liew
5 years
Asian hotels do breakfast buffet way better than American hotels
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@jeremysliew
Jeremy Liew
4 years
Consumer apps are now more part of pop culture than technology, and LA has always been one of the centers of pop culture in the US. Silicon Valley has never been a center of pop culture for anything.
@juliey4
julie young
4 years
underrated fact ---> the two most important + high-growth social media companies are Snap and Tik Tok, both of which have their US headquarters in LA.
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@jeremysliew
Jeremy Liew
10 years
The person who says it cannot be done should not interrupt the person who is doing it. –Chinese Proverb
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@jeremysliew
Jeremy Liew
6 years
Twelve years at @LightspeedVP today. I love my job!
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@jeremysliew
Jeremy Liew
3 years
"A CEO has 50 plates spinning at a time and her job is to decide which 10 to keep spinning and which 40 to let drop. Execs are either plate adders or plate removers. Plate adders have to go" - @cquarles (CEO @Corelsoftware ; Former CEO @OpenTable , Former SVP-GM @Disney )
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@jeremysliew
Jeremy Liew
3 years
“Learn the rules like a pro, so you can break them like an artist.” -Pablo Picasso True not just in art, but product management, investing etc One error I see is early-career people disregarding rules altogether. The other, in mid-career, is overly applying rules once learned.
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@jeremysliew
Jeremy Liew
6 years
I’m an immigrant. Came here in 1996. Became a US citizen in 2016. Voted in my second election today.
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@jeremysliew
Jeremy Liew
6 years
The awesome story of how Whitney Wolfe Herd built @Bumble to $100M in revenue in 3 years in Texas. 70 employees, 85% female.
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@jeremysliew
Jeremy Liew
5 years
We’d all like to think that the best product wins. But it often does not. And when it does not, the reason is usually a larger competitor's networks effects and ability to fast follow:
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@jeremysliew
Jeremy Liew
3 years
Good thread from Josh on reconciling the valuation of @joinClubhouse : -Series A: 4/20 ~1k DAU, $100M pre -Series B: 1/20 ~1M DAU, $1B pre vs @Snapchat at same rounds: -Seed: 4/12 90k DAU, $4.25M pre -Series A: 12/12 3M DAU, $61M pre -Series B: 6/13 19M DAU, $800M pre
@joshelman
Josh Elman
3 years
Clubhouse is certainly having a week. With people like Elon Musk, Mark Zuckerberg, Vlad Tenev having big public conversation. All thanks to @sriramk and moreso @aarthir . I have gotten a lot of questions about it’s $1B valuation and if it is really “worth it” so fast?
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@jeremysliew
Jeremy Liew
5 years
Founders: What criteria would you use to rate the quality of a meeting with a VC? (e.g How respectful were they? How helpful were they? How well did they understand your company? What else?)
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@jeremysliew
Jeremy Liew
7 years
Evan Spiegel on why @Snapchat doesn’t “move fast and break things”
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@jeremysliew
Jeremy Liew
4 years
Even the biggest companies can only focus on 3-5 things at a time. It's hard to compete head to head with FAANG's A team. It isn't so hard to compete against their C team. If what you're doing isn't a top priority to them, they're beatable
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@jeremysliew
Jeremy Liew
4 years
@jrichlive 1. I don’t need to drink to fit in 2. I can’t have it all. Work, family, fitness, hobbies and sleep are all competing in a zero sum game. 3. It’s better to have other people feel smart than to have them feel that you are smart
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@jeremysliew
Jeremy Liew
3 years
Big couple of days for @lightspeedvp crypto portfolio! Announced investments in @ParallelFi & @OffchainLabs (arbitrum) as well as acquisition of portfolio co @ledgerx by portfolio co @FTX_Official . And so much else going on across the portfolio @amytongwu @ravi_lsvp
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@jeremysliew
Jeremy Liew
5 years
1/7 We deserve more women in tech as founders, as funders, as early employees, as engineers and leaders. Otherwise, terrific talent and potential is not fully realized.
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@jeremysliew
Jeremy Liew
3 years
The goal of a pitch deck is not to educate an investor on your business. It is to secure a second meeting
@blader
Siqi Chen
3 years
The #1 fundraising mistake I see founders make is treating the pitch deck as a vehicle for the delivery of facts, when in fact it is a vehicle for the delivery of emotions.
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@jeremysliew
Jeremy Liew
4 years
I’m just finishing two weeks of intermittent feasting. Benefits include a renewed appreciation of tropical fruit, a happy belly, general well-being and an excuse to buy new clothes.
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@jeremysliew
Jeremy Liew
6 years
Success in Venture Capital ultimately comes down to getting an entrepreneur to pick you. And getting lucky. Here are my thoughts on how to be a good investor:
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@jeremysliew
Jeremy Liew
6 years
In the US we have real messaging app fragmentation. But we largely all know when to text, when to Snap and when to DM. We tried to make this implicit decision more explicit here.
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@jeremysliew
Jeremy Liew
3 years
@quantumtemporis Invent a time machine. Go by ordinary means from red to blue. Use time machine to be on time for the meeting.
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@jeremysliew
Jeremy Liew
4 years
1/ Many are trying to reconcile the "We're open for business" message from VCs with a sense that deal flow is slowing down. I know why my intent and my behavior is divergent; perhaps it applies to others also (thread)
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@jeremysliew
Jeremy Liew
4 years
Many successful entrepreneurs start a company because they have a compelling passion about a problem that they want to solve. Few successful entrepreneurs find a problem that they want to solve because they have a compelling passion to start a company.
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@jeremysliew
Jeremy Liew
3 years
@lightspeedvp @Affirm @Honest My partners at @lightspeedvp are extraordinary with exciting portfolio companies incl. @BookCameo @outschool @calm @splitgate @faire_wholesale . I'm glad to continue as a partner at Lightspeed in my new role, and support their success and that of our firm and portfolio companies!
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@jeremysliew
Jeremy Liew
6 years
Earlier this year, an Indian company set the world record for most viewers for an OTT video stream. 10m concurrent viewers, 2-5x more than any us stream. Here’s what we can learn from that:
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@jeremysliew
Jeremy Liew
4 years
First rule of introductions: Double opt in. Second rule of introductions: Make it easy by providing a Clean Email, exactly as outlined by DK below:
@dksf
DK (b/acc)
4 years
1/ I love to connect people when it's a mutually beneficial intro, but I always request that the asker send me a "Clean Email" so that I can clear the intro with the prospective connection. What is a Clean Email ™ 🧵👇
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@jeremysliew
Jeremy Liew
3 years
Throwback Thursday. That's me on the right from about 1978. Apparently I've been wearing fancy pants for a very long time!
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@jeremysliew
Jeremy Liew
3 years
The only difference between a rut and a groove is how much you like being there
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@jeremysliew
Jeremy Liew
3 years
> @affirm provides BNPL to @Shopify customers @affirm provides BNPL to @walmart customers Now @affirm provides BNPL to @amazon customers So that's something.
@Affirm
Affirm
3 years
An exciting step forward as we expand our network — we’re partnering with @Amazon to deliver @Affirm ’s flexibility and transparency to select customers at checkout in the U.S.
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@jeremysliew
Jeremy Liew
3 years
If turkey was tasty (like duck for example) you would not need gravy, cranberry sauce, stuffing or anything else to make it edible.
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@jeremysliew
Jeremy Liew
5 years
"People who are right a lot of the time often change their minds. It’s perfectly healthy to have an idea tomorrow that contradicted your idea today.” - @JeffBezos
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@jeremysliew
Jeremy Liew
3 years
Absolutely this! Like Picasso said, learn the rules like a pro so you can break them like an artist. Before you learn the rules you say yes too often. When you only apply the rules you don't say yes enough. But when you understand the why behind the rules you get your yes back.
@chudson
Charles Hudson
3 years
One thing I was taught as a young VC is that new investors want to say yes to new investments too often. So you get more selective and say yes less often over time. I think there's a second wave where you find your groove and want to say yes more often again based on experience.
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@jeremysliew
Jeremy Liew
6 years
When given the choice between fixing something that is broken and amplifying something that is working, always choose the later. Even if it means with living with the bug
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@jeremysliew
Jeremy Liew
7 years
Really good analogy describing how @Twitter works from @jonnysun from last weeks @nytimes article:
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@jeremysliew
Jeremy Liew
4 years
One upside of this terrible time; I now get to eat dinner with my family every night
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@jeremysliew
Jeremy Liew
5 years
How to Build a Breakout Brand = Organic Strategies + Paid Campaigns. If you’re launching a brand today, you’ll have a big leg up by utilizing one of these organic channels: an owned content channel, organic social, or real-world word-of-mouth:
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@jeremysliew
Jeremy Liew
6 years
Over the past few years 75% of @lightspeedvp consumer investments have been outside the bay area.
@SteveCase
Steve Case
6 years
Silicon Valley is changing “This dispersion of startups embodies a deep irony. The technology industry, which has disrupted nearly all other sectors, is disrupting itself.” #RiseOfRest
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@jeremysliew
Jeremy Liew
3 years
If you work at a company where I am a board member and you believe that you have been discriminated against at work due to your race or gender, you can email me at jeremy @lsvp .com and I will ensure that it is looked into
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@jeremysliew
Jeremy Liew
5 years
Potentially not a coincidence: "Approximately 31% of companies included in the global unicorn club are valued at exactly $1B." @CBinsights
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@jeremysliew
Jeremy Liew
6 years
Crypto today
@cburniske
Chris Burniske
6 years
Everyone looks like a genius in a bull market. Stay humble.
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@jeremysliew
Jeremy Liew
6 years
. @ravi_lsvp has been an investor in the following 4 multi billion exits in the last 18 months: @zscaler (only early stage investor), @nutanix (first investor), @MuleSoft (largest investor) , @AppDynamics (first investor). I’m glad to be his partner at @lightspeedvp
@ravi_lsvp
Ravi Mhatre
6 years
Congratulations to the @zscaler team on their initial public offering today. My thoughts on the path to IPO: cc @lightspeedvp
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@jeremysliew
Jeremy Liew
4 years
1/19 @PiperJaffrayCo ’s Fall 2019 #GenZ Insights Project is a useful read on teen consumer trends. If you can’t access it I made some notes for you:
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@jeremysliew
Jeremy Liew
5 years
1/19 Great article in @theeconomist - explains that Entertainment is what drives internet use for the next 1bn users. (paywalled) some highlights below:
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@jeremysliew
Jeremy Liew
5 years
How can a DNVB increase LTV? - Increase prices (uncommon) - Increase contribution margin (economies of scale) - SKU proliferation (the most proactive approach) Am I missing any? cc: @kirstenagreen @Nik_Quinn @dunn @rebeccak46
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@jeremysliew
Jeremy Liew
4 years
As I spend more time as a VC I get better telling good from bad but I don’t get better telling great from terrible 👁 👄 👁
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@jeremysliew
Jeremy Liew
5 years
I spent a year selling websites door to door to local businesses for @Citysearch in 1997 and it taught me as much as @StanfordGSB
@web
Web Smith
5 years
Something that they don’t teach you in elite business schools — how to actually sell things.
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@jeremysliew
Jeremy Liew
6 years
. @FortniteGame entered popular culture so quickly because it shares many of the viral characteristics of social networks. Here are ten ways the game echoes social software:
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@jeremysliew
Jeremy Liew
3 years
This is madness
@teddyschleifer
Teddy Schleifer
3 years
New tonight — Facebook CEO Mark Zuckerberg’s adopted hometown of San Francisco on Tuesday formally condemned the naming of a major hospital after him and his wife, the latest flashpoint in the debate over the proper role for billionaire philanthropy.
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@jeremysliew
Jeremy Liew
10 years
How to build an MVP http://t.co/sBlb3Oi8gl
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@jeremysliew
Jeremy Liew
9 years
Why @jessicaalba started The @Honest Company; video of interview at the #Alibaba global conference http://t.co/uExswyh18a
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@jeremysliew
Jeremy Liew
3 years
Diversity means including people from a range of different social & ethnic backgrounds & of different genders, sexual orientations, etc. Individual people can't be diverse Groups of people can be diverse Please don't describe a person as diverse when you mean "not a white man"
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@jeremysliew
Jeremy Liew
6 years
Three ways to ask the same question when investing at an early stage: “Why Now?” - @sequoia “What’s the unique insight?” - @lightspeedvp “Revisit fundamental assumptions and check the time stamp” - @eladgil
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@jeremysliew
Jeremy Liew
7 years
A new smartphone app needs >25% DAU/MAU and >3 sessions/day to have shot to displace an existing homescreen app. >>10k+ DAU for significance
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@jeremysliew
Jeremy Liew
4 years
I was the first investor in @blader ’s first company (serious business!) & can vouch for the fact that he could not read an income statement. It does not surprise me that over 12 years he still can’t, and to avoid doing so he is literally going to start a company
@blader
Siqi Chen
4 years
12 years ago, I started my first company. I didn’t know how to read an income statement. 12 years later, I was running @sandboxvr . I still barely knew how to read an income statement. Financials make me feel stupid, and I know I’m not alone in feeling this way …
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@jeremysliew
Jeremy Liew
10 years
The person who says it cannot be done should not interrupt the person who is doing it. –Chinese Proverb http://t.co/lAUdfh10pH
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@jeremysliew
Jeremy Liew
7 years
If you're an entrepreneur you should watch @planetoftheapps for its window onto pitch meetings @techcrunch
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@jeremysliew
Jeremy Liew
4 years
I spent my first Independence Day as an H1B immigrant, in 1996. I finally became a citizen in 2016, to vote. I've learned that on the 4th we celebrate freedom. Yet we are not yet free of systemic racism. Injustice against one of us is injustice against #allofus . #BLM
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@jeremysliew
Jeremy Liew
6 years
@Fortnite is not a game they play... it’s a place they go with friends... It’s fulfilling the same development role as those illicit teen spaces from the 1970s and ’80s — those dodgy youth clubs, arcades, and video stores that we discovered unchaperoned.”
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@jeremysliew
Jeremy Liew
5 years
Of the four new social messaging companies that @alexheath identifies as ones to watch in @theinformation ( @ttylapp , @trysquadapp , @yoloapp and Cocoon), three use @snapchat developer platform for user auth and the other one hasn't launched yet.
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@jeremysliew
Jeremy Liew
5 years
. @wsj has great stats on ⁦ @tiktok_us ⁩. Engagement is strong -8 sessions and 45+min per day. $1b+ in annual revenue. Surprisingly, $1b+ in marketing spend. We haven’t seen a US social media winner spend meaningfully for customer acquisition before.
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@jeremysliew
Jeremy Liew
4 years
Founders, ref check your investors
@saranormous
sarah guo // conviction
4 years
Here’s a strong case for not shotgun-marrying a board member with a 2-day process. Brutal, but 1/100th brutal as the founders and other board members enduring this guy for years
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@jeremysliew
Jeremy Liew
5 years
In @forbes list of 30 Next Billion-Dollar Startups 2019, three have more revenue than equity raised: @Rothys : Raised $42M, 2018E Rev, $140M @truepill_rx : Raised $13M, 2018E Rev: $48M @Davesavesyou : Raised $13M, 2018E Rev, $19M
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@jeremysliew
Jeremy Liew
4 years
$20bn ( @instagram revenue in 2019) > $15bn ( @youtube revenue in 2019). Later start and much steeper ramp of monetization
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@jeremysliew
Jeremy Liew
2 years
$10B+ in returns across 9 IPOs. @roelofbotha is one of the all time great venture capitalists
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@jeremysliew
Jeremy Liew
6 years
How did @Amazon build 100+ private label brands in <10 years? "About 70% of the searches done on Amazon’s are for generic goods. That means consumers are typing in “men’s underwear” or “running shoes” rather than asking, specifically, for Hanes or Nike."
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@jeremysliew
Jeremy Liew
3 years
Entrepreneurs, write a will. When Colin Kroll died he didn't have one. Same with Tony Hsieh. It might feel morbid, and hopefully will be irrelevant, but you should give thought to who inherits your money and just as important, your stock and your board seat.
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