Opportunity Recognition = Peripheral Vision

Summary

The speaker reflects on their career journey, starting with an internship in the White House before venturing into the world of finance and technology. They detail their time in distressed credit investing, their early skepticism about the newspaper industry, and their shift towards tech, leading to ventures in music streaming and venture capital. Despite setbacks, they continued seeking opportunities where their passions aligned with market trends, including a focus on podcasting. The story highlights the importance of staying adaptable, recognizing opportunities, and evolving career paths based on experiences and insights.

Takeaways

• 😀 After a summer internship at the White House, the speaker realized it wasn't the right fit for their career, which led them to seek other opportunities.
• 😀 They worked in distress credit investing, analyzing the newspaper industry post-financial crisis, but ultimately advised their company to invest in Google instead.
• 😀 In 2011, the speaker recognized the shifting dynamics between traditional industries (like newspapers) and technology, particularly the influence of Google on information distribution.
• 😀 The speaker co-founded a music streaming service with friends during the rise of Spotify in the U.S., though it didn't succeed, providing valuable lessons for future ventures.
• 😀 They interned at First Round Capital, a venture capital firm, where they gained experience but realized they needed to build a broader skillset before pursuing VC full-time.
• 😀 After graduating, the speaker worked at Goldman Sachs to develop strong financial analysis skills, preparing them for the next step in their career.
• 😀 Returning to venture capital, the speaker worked at NEA, investing in early-stage and growth-stage companies, with a focus on consumer internet businesses.
• 😀 Some notable companies the speaker worked with at NEA include Jet.com, Casper Mattress, Goop, and BuzzFeed.
• 😀 As a podcast fan, the speaker identified a gap in podcast investments and ultimately decided to build the company they had been seeking.
• 😀 The speaker's career has been driven by the ability to identify opportunities outside of their assigned tasks, adapting to the changing landscape of technology and business.

Q & A

What was the speaker's experience with the White House internship program?

The speaker interned at the White House during the first Obama administration, working in the Eisenhower Executive Office Building. They had the opportunity to go on two trips with the Vice President's advance team, but ultimately felt that it wasn't the right fit for them.

What job did the speaker take after their internship at the White House?

After the White House internship, the speaker worked in the field of distressed credit investing at an investment firm, where they were tasked with analyzing the newspaper industry during the financial crisis.

What was the speaker's opinion on the newspaper industry in 2011?

In 2011, the speaker advised the investment firm to avoid investing in the newspaper industry, suggesting that they should instead invest in Google, due to the inverse correlation between Google's growth and the declining value of traditional newspapers.

What did the speaker learn from their work in the newspaper industry?

The speaker's work in the newspaper industry helped them realize their interest in technology and high-growth companies. It influenced their decision to pursue a career in technology.

What venture did the speaker undertake after their experience in credit investing?

After working in credit investing, the speaker co-founded a music streaming service with two friends. However, despite being in the right time and place with the rise of Spotify and SoundCloud, the execution of the service was not successful, though they learned valuable lessons.

How did the speaker transition into venture capital?

The speaker interned at First Round Capital, a venture capital firm, and enjoyed the experience. They then worked at Goldman Sachs to build a solid financial skill set before returning to venture capital at NEA, where they focused on investing in early-stage and growth businesses.

What notable companies did the speaker work with while at NEA?

At NEA, the speaker worked with companies such as Jet.com, Casper Mattress, Goop, and Buzzfeed, primarily focusing on consumer internet businesses.

Why did the speaker become excited about the podcast industry?

As a podcast fan, the speaker became interested in investing in the podcast industry while at NEA. However, after searching for viable investments, they concluded that the company they were looking for didn't exist, leading them to consider creating one.

What lesson did the speaker learn from their experience at NEA?

The speaker learned the importance of being open to unexpected opportunities. Even though they were tasked with finding investments, they became more excited about building something from scratch, illustrating the value of recognizing opportunities that might be slightly off-course from the original task.

How did the speaker's career decisions reflect their adaptability?

Throughout their career, the speaker demonstrated adaptability by seizing opportunities in unexpected places, such as shifting from the newspaper industry to technology and later from venture capital to creating their own company. Their ability to pivot and follow their interests led to personal and professional growth.