What’s the difference between an angel investor and a venture capitalist? | Money Talks podcast
Summary
TLDRIn the 'Money Talks' podcast, Andrea Hang discusses the intricacies of entrepreneurship and funding with Vanessa Ho, co-founder of fintech nation. They explore the differences between angel investors and venture capitalists, the strategies for pitching to them, and the expectations for returns. Ho emphasizes the importance of due diligence, the value of strategic investments, and the reality of startup failure. The conversation provides insights into the world of personal finance and the entrepreneurial journey.
Takeaways
- 💡 Entrepreneurs often face difficulties raising funds from banks due to the lack of track record and incorporation time.
- 🚀 Angel investing is compared to investing in individual stocks, while venture capitalism is likened to a diversified portfolio like mutual funds or ETFs.
- 🤔 Angel investors tend to invest based on personal understanding and the ability to add value, often without a structured mandate.
- 💼 Venture capitalists operate with a clear strategy and investment mandate, aiming for stable returns similar to a TV actress following a script.
- 🌟 The potential for high returns in angel investing is offset by the low probability of success, with the hope that one or two 'moonshot' investments will carry the entire portfolio.
- 🧐 Personal connection and familiarity with the industry are significant factors for angel investors when choosing startups to invest in.
- 👥 The personality and character of startup founders weigh heavily in the decision-making process for both angel investors and VCs.
- 🔍 Experienced investors rely on their network for reference checks and due diligence to identify the right characteristics in founders.
- 🤝 The level of involvement from angel investors and VCs can vary, but proactive communication from founders is key to leveraging their networks and expertise.
- 📈 The benefits of angel investment include personal support and referrals, while the downsides include smaller ticket sizes and potential for demanding investors.
- 🏦 When a startup fails, the assets are liquidated, and the funds are returned to investors according to the liquidation preference outlined in the term sheet.
Q & A
What is the primary topic of the 'Money Talks' podcast episode featuring David Gun from Tipsy Collective?
-The primary topic of the episode is about entrepreneurship and the challenges of raising funds for a business, specifically discussing the experiences of David Gun from Tipsy Collective.
Why did banks refuse to provide loans to David Gun and his late partner when they first started Tipsy Collective?
-Banks refused to provide loans because they lacked a track record and their company had not been incorporated for a long time, which is a common issue for new entrepreneurs.
What are the two main sources of funding for entrepreneurs mentioned in the podcast?
-The two main sources of funding mentioned are Angel Investing and Venture Capitalism.
How does Vanessa Ho differentiate between Angel Investors and Venture Capitalists?
-Vanessa Ho differentiates them by comparing Angel Investors to social media creators who can invest in various things without a structured mandate, while Venture Capitalists are like TV actresses who follow certain branding guidelines and investment mandates for stable returns.
What is the main strategy for Angel Investors when choosing companies to invest in, according to Vanessa Ho?
-Angel Investors often invest in areas they understand and where they can add value, but they may not have a clear strategy or formula. They might invest in one deal out of many they see, hoping for a 'moonshot' success.
What are the three main character points Vanessa Ho looks for in startup founders?
-The three main character points are team dynamics and product fit, character and values, and signs of operational and executional capabilities.
How does Vanessa Ho suggest verifying the legitimacy of potential Angel Investors or Venture Capitalists?
-Vanessa Ho suggests verifying their identity through a corporate secretary company, doing reference checks, and ensuring they are accredited investors if investing directly in Singapore.
What are the pros and cons of raising funds from Angel Investors according to the podcast?
-Pros include the potential for strategic referrals and emotional support. Cons include smaller ticket sizes which can lead to more time-consuming fundraising processes and potential for demanding or overbearing investors.
What is the difference in ticket sizes between Angel Investors and Venture Capitalists?
-Angel Investors typically invest smaller amounts, often in the sub 50k range in Singapore, while Venture Capitalists can invest much larger amounts, from 100K to several million dollars.
What happens to the funds invested by Angel Investors or Venture Capitalists if a startup fails?
-In the event of a startup failure, there is a liquidation process where public assets are liquidated and the remaining funds are dispersed according to the liquidation preference outlined in the investment agreement.
What advice does Vanessa Ho give to startup founders regarding their pitch to Angel Investors or Venture Capitalists?
-Vanessa advises that the pitch should be tailored to the individuals being addressed, concise, and focused on selling the founder's capabilities, especially in early stages. It should also consider the technical expertise and interests of the potential investors.
Outlines
💼 Entrepreneurship and Fundraising Insights
The first paragraph introduces the Money Talks podcast, hosted by Andrea Hang, focusing on personal finance with a spotlight on entrepreneurship. Guest David Gun, co-founder of Tipsy Collective, shares his experience with raising funds, highlighting the challenges faced by new businesses in securing bank loans due to the lack of track record. The conversation pivots to explore alternative funding sources like Angel Investing and Venture Capitalism, with Vanessa Ho, co-founder of fintech nation, providing expert insights. The discussion aims to clarify the differences between angel investors and venture capitalists, evaluate their pros and cons, and consider the implications of a company's failure post-funding.
🤝 The Dynamics of Angel Investing vs. Venture Capitalism
In this segment, Vanessa Ho uses analogies to distinguish between angel investors and venture capitalists. She likens angel investing to social media creation with a focus on individual stocks, while venture capitalism is compared to a diversified portfolio akin to mutual funds or ETFs. The conversation delves into the strategies of angel investors, who often invest based on personal understanding and the potential to add value, as opposed to venture capitalists who operate within a structured mandate for stable returns. The importance of personal connection and the founder's personality in investment decisions is also emphasized, along with the significance of operational and executional capabilities.
🔍 Due Diligence and Investor Engagement
The third paragraph discusses the due diligence process and the level of engagement expected from angel investors and venture capitalists. It highlights the importance of building a network for reference checks and the varying degrees of involvement from investors. The paragraph also touches on the cons of angel investing, such as the time-consuming process of managing multiple small investments and the potential for demanding or overbearing investors. Strategies for startups to approach and verify potential investors are also discussed, including working with corporate secretaries and conducting thorough reference checks.
💰 Pros and Cons of Angel and Venture Capital Funding
This paragraph outlines the benefits and downsides of seeking funds from angel investors and venture capitalists. Angel investors can provide strategic value and emotional support, but managing multiple small investments can be challenging. Venture capitalists offer larger ticket sizes and branding benefits, but the due diligence process can be lengthy and stringent. The paragraph also addresses the importance of verifying the legitimacy of investors and the necessity of understanding the terms and conditions of investment agreements, including liquidation preferences and repayment sequences.
📈 Pitching Strategies and Expectations from Investors
The focus of this paragraph is on how entrepreneurs should pitch to angel investors and venture capitalists, emphasizing the need to tailor the pitch to the audience and to be concise. It discusses the expectations of returns from angel investors and venture capitalists, with the former expecting high returns from a few successful investments in their portfolio, and the latter looking for more modest returns from mature companies. The paragraph also covers the responsibilities of founders when a company fails, including the liquidation of assets and the order of repayment according to the terms of the investment agreement.
🎙️ Final Thoughts and Personal Insights from Vanessa Ho
In the concluding paragraph, Vanessa Ho summarizes key takeaways for entrepreneurs seeking funding, including understanding the priorities of different investors, knowing the party providing funds, and having an exit strategy. She also shares a personal anecdote about her choice of a public figure to have a meal with, selecting Jeff Bezos to learn about his entrepreneurial journey and the growth of Amazon. The podcast wraps up with a call to action for listeners to engage with the show and a credit to the team behind Money Talks.
Mindmap
Keywords
💡Angel Investing
💡Venture Capitalism
💡Fundraising
💡Personal Credit Line
💡Government Grants
💡Due Diligence
💡Liquidation Preference
💡Exit Strategy
💡Accredited Investor
💡KYC (Know Your Customer)
Highlights
Entrepreneurs often face difficulty in getting loans from banks due to lack of track record.
Personal credit lines are commonly used by entrepreneurs as an alternative to bank loans.
Angel investing and venture capitalism are two distinct methods for entrepreneurs to raise funds.
Angel investors are compared to social media creators with flexibility, while venture capitalists are like TV actresses with structured mandates.
Angel investors often invest in areas they understand and can add value to, lacking a strict investment formula.
Venture capitalists deal with a high volume of investment opportunities and have a structured approach to selecting startups.
The success rate of startups is low, with the expectation that one or two will provide significant returns to cover the failures.
Angel investors may gravitate towards startups they feel a personal connection with due to sector familiarity.
Investors often consider the personality and character of startup founders in their decision-making process.
Operational and executional capabilities are key traits investors look for in startup founders.
Experienced investors can spot red flags in founders based on past experiences, similar to recognizing bad relationships.
The level of involvement by angel investors and venture capitalists can vary greatly, with no set expectation.
Startup founders should proactively engage with investors for advice and support, leveraging their networks and expertise.
Angel investors can provide emotional support and strategic value, while venture capitalists offer larger funding and branding benefits.
When a company fails, assets may be liquidated, and investors typically get repaid before founders based on the terms of the agreement.
It's crucial for founders to understand the terms of investment, including liquidation preferences and repayment sequences.
Having a lawyer or someone knowledgeable in the space review term sheets is advised for founders before signing.
The pitch to angel investors and venture capitalists should be tailored to the individuals and their backgrounds.
In the event of a company's failure, founders should have an exit strategy and understand their financial responsibilities.
Transcripts
you're listening to a CNA
podcast hey what's up everyone this is
Andrea hang and welcome to the Money
Talks podcast this is where we talk
about everything there is to know about
personal finance I want to take you back
to an episode of Money Talks where we
got to ask about
entrepreneurship David gun he's the
co-founder of the Tipsy Collective
remember him and this is what had to say
about what it was like raising funds for
his business when I first started Tipsy
back then with my late partner we tried
to approach the banks for loans right
absolutely no banks will touch Us by the
way they always ask what's your track
record how long your company has been
Incorporated so more than often you'll
be tapping into your own personal credit
line so what David said got me thinking
about how entrepreneurs raise funds now
aside from all the government grants
offered in Singapore there are a number
of sources you can tap on one of those
ways is through Angel Investing and
Venture capitalism but what is the
difference and which one works better so
I would like to tackle this chat by
asking three questions the scenarios
that call for an angel investor versus a
venture capitalist the pros and cons of
either route and what happens if your
company goes bust after all of that
money is raised and spent
and the one in the hot seat to answer
them is Vanessa ho she's co-founder of
fintech nation she's also adviser to N
US alumni Ventures you might also have
seen her on the big spark on CNA welcome
to the Money Talks podcast Vanessa
thanks for having me Andrea all right so
the majority of us are salary workers
right but we've heard of two terms Angel
Investors and Venture capitalists you
are in a unique situation where you're
involved in both so using a simple
analogy describe the biggest difference
between the two I think people talk
about your first funraising round like
raising from the three FS friends family
and force Angel Investors are not too
far away from friends family and fors
okay if you want to compare Angel versus
VC Angel Investing investing in one
stock like an Nvidia stock or a
Microsoft stock VC like a mixed
portfolio like a mutual fund or an ETFs
or is this is very relevant to myself is
as an angel it's like being a social
media Creator you can do anything you
want you can post any content invest in
any sort of things you don't have a
structured mandate where oh you can only
do this amount of content and this brief
and then some things may go viral and
then some things just fail but being a
VC is like being a TV actress or a movie
actress you have to follow a certain
branding guideline just like your
investment mandate you have a certain
structure to do it and you can expect
stable returns because your TV and
movies will do at least lease ex amount
of free and awareness but you may or may
not get the moona opportunity like the
angel investors okay that's a really
interesting way of putting it so when it
comes to picking the company to invest
in how different is the strategy for an
angel investor compared to a venture
capitalist most angels that I meet
because of my work at N US alumni
Ventures and technation fund as well
they don't exactly have a clear strategy
in terms of investing and even for
myself I know what I can do better in
and what I don't but it's not so much a
formula I invest in things that I
understand and I can value add in as an
inel investor essentially as an inur
investor especially when you become more
prolific you can have decks coming to
you every single day and of hundreds of
DS that you see in the single year and
even if you have the time to do so how
do you pick the few that's going to make
it exactly and the hit rate or the pick
rate right is like we do maybe one deal
out of 50 Decks that we see wow and
out of all these say example if you
invest in 20 or 30 startups and maybe
only one or two will be moonshot and by
moonshot 100x and above wow so the
probability of a startup really giving
you returns is very low and you are
expecting that one or two to carry a
whole portfolio everybody else will tank
they'll go bust and one big unicorn
potential unicorn is going to carry the
rest of your portfolio and give you
quite crazy returns right my primitive
understanding of it before is that angel
investors they tend to gravitate to
companies or startups that they feel a
personal connection with does that
happen with you as well yes correct like
if you are maybe a sea Suite in a bank
for example and you invest in fintech
companies it makes a lot of sense
because firstly you know what the
founders are talking about and you know
as well even better than the founders
they're not going to tell you about some
product or strategy that completely
doesn't work but if you're in an
entirely different field how going to
analyze and be like okay this is the
right startup that's going to do well
right so it's about comfort zone
familiarity at the end of the day but at
the same time even as an angel or VC you
make bets in sectors that you don't
understand right for example we invested
in a health tech company even though
we're a fin Tech Nation fund but Co
Founders we really like them and the
other partner at the VC know them since
they were like 18 years old so that's
pure founder B because they're great
people they've proven success great
track record we may not know the product
they're pre-product Revenue like
basically just a deck but we really like
them and the bet is really on that
person that's a great Point how much is
a startup owner's
personality character how much do these
weigh on an angel investor or a VC's
decision-making process I mean it sounds
like it's pretty significant I think any
early stage company which is like series
a and before you're looking at valuation
of say on the 30 million or 40 million
it's all about the people because the
product's going to iterate and the
startup idea might pivot along the way
right and we're looking out for three
main character points right one is the
team Dynamic and the product and team
fit are these the two or one best
co-founders or founder that is going to
tackle this problem and solve this
problem maybe because of a domain
expertise or maybe they're driven by a
certain purpose or problem they're
facing themselves that they would
sacrifice a lot of things to solve this
problem that's one second is character
and values
uh in one of the previous VC that I was
working at we pulled out a deal because
the founder of a automotive tech company
started being a bit Shady started
hitting on some of the investment
analysts dear and it's such a bad
reflection of character if this is your
values what are you going to bring to
the table when you deal with your
business counterparts future investors
ex exactly and then the last bit is I
think signs of operational and
executional capabilities right now a lot
of Founders are excellent speakers and
sales people they oh you can train to do
that now it's so easy exactly and I
think one thing that the CNA show the
big spark producer was saying that you
cannot confuse eloquence with competence
a lot of Founders can talk and pitch
really well raise a lot of money but can
they actually get a hands dirty and get
things done so I think these are the
three things we look out for right so
you can talk a big game at the end of
the day it's whether you can walk the
walk and talk the talk
are you then expected to learn how to
pick out these characteristics how to
identify them it's more complex than it
seems and I think the very senior
experienced investors know how to spot
that they've just met thousands of
Founders and they know how to spot like
red Flex same thing in a relationship
right if you date enough you probably
know some of the red Flex based on past
experience and being burn before but for
me I Rely a lot on my network to do
reference check before making any
decision the due diligence process can
take a few weeks right and I just asked
industry friends what do you think of
this person how is it like working with
this person and basically seeing Mutual
connections that we form along the way
so that has really helped and I think
it's really important to build industry
friends and connections to protect
yourself oh yeah what about the
involvement the activity level that an
angel investor versus a venture
capitalist would have once that company
has been chosen and you're investing in
it I have seen like a spread of
investors both individuals as well as
VCS who have been Hands-On and those
have just gone silent just because
they're busy maybe building their own
businesses or they have their own
corporate jobs that occupi most of their
time so there's no hard and fast rule
really for this correct there's no
expectation when you invest but of
course it's a good value ad I have seen
best practices from companies who
constantly checking the investors it
shouldn't be like oh the investors
coming in to support you and advise you
because they're not employee
but the founder should be proactive and
reaching out and be like okay hey I'm
thinking of this new product idea what
do you think of it oh can you connect me
with this person or I'm penetrating
Australia can you connect to me with
some ecosystem players there and usually
no one says no I think it's more like
understanding the angel investors their
Network and their expertise and same
thing the VCS working very closely with
the partners of the VCS who have the
most resources and knowledge and also in
some of the bigger VCS they have a
portfolio management team who can
provide a lot of resources to the
startups as well next up we talk about
the pros and cons of taking either route
as a startup
owner all right so now from the
perspective of an entrepreneur that's
what I want to delve into now we want to
determine who we should approach for
funds right as you said an angel
investor Works quite differently from a
VC so give us the top pro and con of
going to an angel investor I think from
my own experience angel investors if you
manage the raise from the right
strategic one they can give you
referrals that will drive your revenue
or even Investments for your future
fundraising rounds the position of a in
investor is not just for funding because
a lot of times the investment check is
small maybe 10K 50k maximum 100K but
usually in the sub 50k range in
Singapore but they become your friend
they are the kinds who can provide you
emotional support especially when being
a Founder is so difficult when you have
to juggle the business firefighting of
competition and the market but with VCS
you have to obviously be more guarded
sometimes depending on your relationship
with the VC and you only want to maybe
show the highlights of your work and
maybe not to get too personal unless you
become personal friends with of course
the investment team in the VC okay the
cons is for sure because the ticket
sizes are smaller it takes more time to
raise for example if everybody's putting
in 10 to 20K checks you need a lot of
them and it's harder to manage so many
people especially when one or angels can
be very demanding asking for a lot of
requests or like unfavorable terms when
the ticket size is Chinese so it's
people management that's the con how
would you know if your angel investor
has those capabilities that you need has
the support system that you need to get
by really I think before taking money
from a angel investor if you're taking
it directly get to know that person in
one to one over coffee or dinners
firstly not just for the expertise which
is usually very clear if you can Google
them maybe they're a top researcher or a
doctor that can help maybe your medical
Tech startup that's awesome that one is
Undisputed but maybe about the
personality are they like very
overbearing are they going to tell you
XYZ instructions when they invest even
though they put in say 20K check so get
to know whether there are like the kind
who's going to be too intrusive or
overbearing and you don't want that as
well or the kind who's going to invest
and just disappear that is also maybe
the kind of investors you may not want
if you want more strategic value I think
it also depends on what kind of person
you are as a startup business owner
because it depends I guess on what kind
of Engagement you are expecting for
yourself right yeah it varies but the
other alternative is we see a lot of
Angel networks who can lead the round
right for example any Salam ventes one
of them and then we have other Angel
networks in Singapore as well bansy one
of the oldest southeast Asia Angel
networks there XA Network and many other
Angel networks and there's one Angel
lead where the inel network verify and
curate all these inel investors before
letting them Co invest with them and
even do the legality the term sheets the
structuring for you it makes life
simpler of course the Angels pay a
certain fee when it comes to that but
the founders is basically the same thing
and usually these Angel syndicates can
pull together money which is like 100k
to like even up to 1 million dollar alog
together and basically save you all the
hassle and also do some sort of like
reference check of the investors before
letting them in the pool oh that's
interesting and that's really helpful as
well for someone who is just starting so
now I want to talk about the VCS what
the biggest benefit and the biggest
downside to seeking funds from a venture
capitalist the most obvious benefit is
that ticket sizes are generally bigger
so you save a lot of time but the due
diligence process can be months VCS you
have a long stringent process there's
audit process as well but then when you
get a certain check from them it's maybe
100K to a few million dollars like $5
million $10 million as well so it fills
out the round and then that's it you
don't have to go around around picking
up small tickets as well second is VCS
come with a lot of branding right if you
can raise money from the big guys like
Seas your a16 z's your ggv Capital that
branding of having that VC in your cap
table already alleviates your status and
your credibility and it helps you even
get clients because they're like wow
you're G back you must be really
credible and awesome team it helps the
subsequent fundraising rounds it helps
you get subse injur investors to fill up
the rest of the rounds and also for
clients which is the most important
indeed here's the thing we see a lot of
people online claiming to be VCS
claiming to be Angel
Investors sometimes they are even among
our own Social Circles how do we verify
if this person is legit they have this
money they have these expectations and
they everything matches up how do we
know that this person's for real I think
three things one is honestly anybody can
be an angel investor as long as you get
some spare cash you can Ango invest in
Singapore there is a law where you have
to be accredited investor to inter
invest directly right but there are
different vehicles and means to do it
especially when maybe a company is not
Incorporated in Singapore then it
doesn't apply directly so if you don't
take it too seriously and you find some
value in that person and that person is
not shady and need investor just anybody
any individual who has the interest to
invest that has the money to invest I
typically recommend Founders to not take
checks below 10K it's too complicated
anything above 10K the guy is probably
invested enough to support you and it
doesn't make things too messy on the
corporate finance level second is to
work with a great corporate secretary
company that can help you with the
compliance in the kyc what's kyc know
your customer ah okay we work with Sleek
which is also a portfolio company from
the past to basically verify the
identity bank account Det sales of all
these Angel Investors before a company
takes money so that basically comes in
and then they do the all the legal work
as well which saves you a lot of time so
finding the right copack to do it is
important and the third is definitely
reference check if you've never heard of
this person and this person wants to
water you a million dollars you have to
start wondering how did this $1 million
happen if this person's not on Google
not on LinkedIn and have magical money
up here don't touch it because your bank
account is going to be Frozen and you're
going to be so stuck oh yeah coming up
what happens when you spend all that
money and your company doesn't make
it okay so Vanessa I want to talk now
about expectations Angel Investors and
VCS are not giving away this money for
free like Oprah does with her car to the
audience right so given the careful
consideration that angel investors and
VCS take to fund a company what kind of
returns do they actually expect Angel
Investors are probably expecting one or
two out of their massive portfolio of of
even small portfolio to really make it
and that's like the uh 50x 100x kind of
returns and the rest tank because when
Angel Investors uh invest typically
they're at preed stage maybe even
pre-product pre-revenue early traction
it's not very conclusive yet whether
this company's going to make it cuz it's
just so new maybe one year in the making
two years in the making so they're just
expecting that one or two shot to carry
the whole portfolio for VCS it depends
in early stage Investments say preed
stage cve we expect a few Moon shots but
then the rest May potentially fail right
but when it comes to say VCS that invest
in series B onwards right larger funds
especially they're just happy with maybe
a 5 10x return and does that have to do
with the maturity of that company as
well by that stage yes exactly the
maturity reflects the valuation of the
company which just like the price so
from an entrepreneurs perspective I
could go to either an angel investor or
a VC right or both especially if I know
that they are Keen to fund a business
like mine what's the key difference in
how I should pitch to either one of them
I don't think it has to be too different
your pitch deck should be tailored to
the individuals that you're speaking to
and also it should be concise and you
should sell yourself especially in early
stage stage is really about yourself
when you're pre-product when you're at
the later stage maybe sell your numbers
and your traction as well and yourself
and your capabilities but at the end of
the day the people deciding between VCS
are also individual people so know who
you're pitching to if they have
technical expertise maybe they used to
be an engineer or developer in the past
maybe highlight the technical mode in
your product while we have the best
developers we have the proprietary Tech
and codes versus maybe someone who is
always in the back that maybe show your
projections more and how well you have
calculated your financials and done your
projections so everybody whether it's a
VC or Angel there are also people so if
my company goes bust what happens then
to the funds that I've taken from you or
from a VC essentially what's my
responsibility with those funds then
what happens when a company goes bust is
there are public assets that can be
liquidated okay maybe some property or
assets that the bank will liquidate and
then with this x amount of balance cash
left you have something called the
liquidation preference and in every
agreement that you sign whether you're
an angel or VC it will show you the
order where the money will be dispersed
right so example you invest in the later
stage for example you might get your
money before and after certain other
investors so do check that and sometime
there's liquidation preference where you
might get maybe 2x of the amount you
invested in first and it's usually pro
rated across but sad part is the
founders always get the money lost they
can work the hardest they spend most
Blood Sweat and Tears in this but the
investors get their money first before
the founders which is very unfortunate
and then when it comes to loans just
check in your agreement whether your
loan is more senior than other loans in
the past which also means whether in a
repayment scenario do get your payment
first or other lenders first so
everything has a certain sequence and
everything's in the term sheet I do
advise like basically every founder and
investor right to get a lawyer or legal
friend someone who knows the space to
check the ter sheets very carefully
before signing anything okay so let's
wrap with a summary Vanessa first it's
important to know who your target
audience is because a VC has quite
different priorities than an angel
investor depending on who and what kind
of check size You're Expecting number
two it's important to know as much as
possible about the party you're getting
your funds from that way you know how to
pitch your idea the right way and
strategically too and number three just
in case things don't go according to
plan and generally it's a good idea to
have an exit strategy in mind in terms
of trying to figure out what happens to
those funds and what your expectations
are when there's a
[Music]
dissolution so Vanessa before we let you
go we have a segment it's called
questions from a hat and you'll have to
pick a question from here and hand it to
me and I'll read it out to you for you
to answer oh this is a good one Vanessa
if you could have a meal with any public
figure Dead or Alive who would it be and
why wow good question I think I would
probably want to have a meal with Jeff
Bezos wow okay Amazon guy yes I think he
basically went from small company to a
huge share of the S&P 500 which is
insane I don't know how he does it I
want to learn entrepreneurship skills
from people like Jeff Bezos yeah I think
it's a certain kind of Courage that they
have Vanessa you've been such great
company thank you so much for being on
the podcast and just offering such sound
advice for budding entrepreneurs out
there we really appreciate it thank you
Andre maybe next time you can invest in
some mediate Tech startup or something o
very tempting I'm going to have to think
about that really exciting world but not
for the fainter part I'll tell you that
and listener if you have any thoughts or
questions about this episode all you got
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