Samir Vasavada: The Real Story of Vise: The Regrets, Mistakes and Mis-Hires | E1171

Samir Vasavada is the Co-Founder & CEO of Vise, a technology-powered asset manager. Samir and his co-founder, Runik founded Vise from the Midwest at 16 years old. They bootstrapped the company before dropping out of high school and raising $128M in just 6 months from some of the best including Sequoia Capital and Founders Fund. The company achieved unicorn status when the pair turned 20 years old, making them the youngest founders of a $BN company at the time.
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Timestamps:

(00:00) Intro
(01:01) Starting Vise
(03:45) The First Big Yes
(07:16) How the Sequoia Deal Went
(11:15) Does Samir Regret Raising Significant Funds Early On?
(19:15) Mistakes & Lessons on Hiring
(38:29) Advising Founders on Transfer Restrictions & Investor Exits
(39:07) The Dual Impact of High-Profile Investors on Startups
(45:02) Losing Friends When the Company Cooled
(47:46) Samir's Period of Depression
(55:40) Quick-Fire Round
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In Today’s Episode with Samir Vasavada We Discuss:

1. The Biggest Hiring Mistakes That Broke Us:
Why is hiring people who come with a playbook one of the most damaging things you can do?
Why is it impossible to build a remote company that performs the same as in person?
Why is it the worst thing to hire people who have a reputation they are obsessed with maintaining?
Why do you never want to hire people who join because of who your investors are?
Why does Samir regret not firing people faster? How much time is enough time to know?
Why is hiring in a hot market one of the most dangerous things you can do?

2. Fundraising: 3 Rounds and $126M in 6 Months:
Does Samir regret raising so much money so soon in the company life?
What did Samir do that he regrets doing, having had so much money so early?
How did the need for free food at an event lead to a term sheet and $50M from Sequoia?
Did Samir feel that he could talk to investors when things were going really badly?
Why does Samir believe that liquidation preference matters more than valuation?

3. The Depression, The Pressure and Wisdom From Jensen Huang:
What did Jensen Huang teach Samir when it comes to wealth and leadership?
How did Samir deal with the pressure of raising $126M in 6 months and being the youngest unicorn founder, ever at the time?
Was Samir hurt when people he thought were his friends, no longer stuck with him when the company was no longer “hot”?
What was Samir’s darkest time? How did he overcome and get out of it?
Does Samir blame his parents for the pressure they put on him from such a young age?
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#20vc #harrystebbings #samirvasavada #vise #venturecapital #founder #ceo #ai #hiring #depression #fundraising

[TheAPUSHchannel]

The best part about working at Vise was when they laid me off. If your entire exec team turns over twice in 24 months and you blame the advice of investors (which you followed), then blame former employees, maybe the problem is you Samir. But maybe you like being valued at 300X revenue, sounds like you have definite product market fit.

[johnvonleibniz]

Okay, I'm pretty sure this is the best tech-focused podcast channel out here. Great job Harry!

[doxlebuild]

One of the greatest interviews I have ever watched . Learned a lot

[yugeswarreddy]

First comment .
Hope you bring Palmer Luckey on show soon .❤

[cartercs]

Samir comes across as incredibly defensive and arrogant in this interview.

[MindTheLongterm]

Very refreshing conversation. Samir is great and clearly going to continue to do great things.

[babastianj]

i think many people that have been in Samir and Runik's journey have forgotten how young they are

[jameslerner]

Aren't these folks doing a "hard" reset on the company?

[mateenyaqubi]

"we were talking so much about how to be inclusive... frankly, things that don't matter" when people show you who they are, believe

[rcburton]

This guy still hasn’t realised why failed. At all.

[mariojohnson]

It’s what parents do, they care about their kids and their outcomes that’s not a flaw and please don’t say that it is. It’s your job to bring them to understand your dream. This host is kind of annoying sometimes.

[milosdj]

Don't scratch your nose...it' irritate, you were lucky...

[chans]

I think its the thing with immigrant parents... ABCD