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Bill Gurley Podcasts

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14 of The Best Podcast Episodes for Bill Gurley. A collection of podcasts episodes with or about Bill Gurley, often where they are interviewed.

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14 of The Best Podcast Episodes for Bill Gurley. A collection of podcasts episodes with or about Bill Gurley, often where they are interviewed.

Updated daily with the latest episodes

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E11: Election Night Special featuring Phil Hellmuth, Bill Gurley, Brad Gerstner & more!

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Follow the crew:

https://twitter.com/chamath

https://linktr.ee/calacanis

https://twitter.com/DavidSacks

https://twitter.com/friedberg

Follow the pod:

https://twitter.com/theallinpod

https://linktr.ee/allinpodcast

Follow the bestie guesties:

https://twitter.com/bgurley

https://twitter.com/phil_hellmuth

https://twitter.com/altcap

https://twitter.com/jcpolls

Show Notes:

0:00 The besties & Phil Hellmuth on Trump’s early lead, live betting odds, the Latinx reversal

10:09 Sacks intros political expert Michael Newman on vote tally timing discrepancies, why some states skew a certain way early & more

20:33 Assessing the 180 in the gambling markets & equity markets towards a pro-Trump outcome

24:18 SurveyMonkey Chief Research Officer Jon Cohen joins the show to talk about polling updates from 2016 to 2020, understanding the race so far, electoral college & more

41:51 Biden losing Florida, tax policy, cultural repudiation of the elites in 2020

50:43 Chamath on the stupidity of the establishment, socialism, Democratic ideology for 2024 if Biden loses

55:40 Mid-show predictions, Jason goes off on Trump

1:07:58 What will happen in the time until we have a clear winner, Trump as a middle finger

1:17:55 Brad Gerstner joins the show to talk about stock futures, what the Democrats keep getting wrong - coastal elites losing touch with normal people, rebuking lockdowns

1:38:24 Reviewing the race swing state by swing state

1:47:28 Bill Gurley joins the show to talk about divisiveness, urban/rural rapture & more

1:55:53 Pete Buttigieg as the future of the Democratic Party, Chamath calls out the democratic leaders

2:00:43 Reconciling middle America & the coastal elites, respecting each other’s differences, understanding Prop 22

2:11:34 Diagnosing states that flipped from Biden to Trump, anti-business California state propositions failing, union impact on legislation

2:23:01 Senate races, market talk, which Democratic candidate had the best chance of beating Trump, voting for character over policy

2:34:32 Jason & Sacks debate Russian election interference legitimacy

2:41:34 Sacks unveils his Trump Derangement Score tracker, updated outcome scenarios & more

2:51:51 Trump declaring victory could tank markets, live reaction to Joe Biden’s election night address

Nov 04 2020 · 2hr 59mins
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Content vs Label Claim on CBD Products, with Dr. Bill Gurley

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 CBD products are incredibly popular and marketed for numerous health ailments. But do they do what they claim to do? Do they contain what they claim to contain? When it comes to CBD products or supplements, how do we know who to trust?
In this episode, Dr. Erin Stair chats with Dr. Bill Gurley, the principal scientist at the National Center for Natural Products Research at the University of Mississippi. Dr. Gurley has studied commercial supplements for over 25 years and recently did a study analyzing the content in commercial CBD Products vs the claims made on the label. He talks about the study's findings, CBD products in general, the supplement industry and things to watch for, and tips for distinguishing "good" CBD products and supplements from "not so good" ones.
To get in touch with Dr. Erin Stair, please visit her website, Blooming Wellness.
To follow her on Instagram, click here.
To find her on Twitter, click here.
To follow her health page on Facebook, click here.
To read or listen to her new comedic parody on the wellness industry, Yours in Wellness, Krystal Heeling, click here.
Or you can listen to it from Google Play or Walmart!
To read Manic Kingdom, click here.

Jun 27 2020 · 36mins

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#23 - Learning From Ben Thompson & Bill Gurley on Marketplaces, Platforms & Aggregator Businesses

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June 5, 2020: A medley of learnings from the Invest Like The Best podcasts’ interviews with Ben Thompson of Stratechery and Bill Gurley of Benchmark. Learning about what makes a platform vs. aggregator, the moats that make these businesses thrive, building a media business and mental models for identifying ‘potentially’ successful marketplace businesses. 
Jun 08 2020 · 27mins
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Bill Gurley and Chetan Puttagunta – An Update on Consumer & Enterprise Venture Capital - [Invest Like the Best, EP.162]

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My guests today are Bill Gurley and Chetan Puttagunta, both partners at benchmark capital. We review the early stage investing world in the face of coronavirus in a very timely conversation, which is one that will remain valuable once this crisis is done. We discuss enterprise and consumer, funding and growth, and the entrepreneurial spirit in the face of a crisis. Please enjoy.

This episode is brought to by Koyfin.

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

1:44 – (First question) – Landscape for venture capital ecosystem

6:47 – The experience in 2009 and the entrepreneurs that tend to rise to the top

8:24 – The relationship between early stage companies and public investors

10:45 – How this crisis impacts enterprise businesses vs the broader corporate sector

14:46 – Advice for early stage companies in a period like this

18:23 – What Chetan was doing during the last downturn and what he learned during it

20:27 – Early stage vs late stage companies in this environment

            22:57 – On the Road to Recap

23:00 – Benefits of being small in a period like this

25:22 – How portfolio companies are responding and pivoting during this period

29:33 – Best practices for remote companies

31:39 – Themes that stand out during this period

34:51 – Closing thoughts 

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on Twitter at @patrick_oshag

Mar 13 2020 · 38mins

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Michelle Obama

Melinda Gates

Arnold Schwarzenegger

Kevin Hart

Terry Crews

Mike Tyson

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20VC: Most Downloaded Episode of 2019 with Bill Gurley, General Partner @ Benchmark Capital

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Bill Gurley is a General Partner @ Benchmark Capital, one of the most successful funds of the last decade with a portfolio including the likes of Uber, Twitter, Dropbox, WeWork, Snapchat, StitchFix, eBay and many many more. As for Bill, widely recognised as one of the greats of our time having worked with the likes of GrubHub, NextDoor, Uber, OpenTable, Stitch Fix and Zillow. Prior to Benchmark, Bill was a partner with Hummer Winblad Venture Partners. Before entering venture, Bill spent four years on Wall Street as a top-ranked research analyst, including three years at CS First Boston where his research coverage included such companies as Dell, Compaq, and Microsoft, and he was the lead analyst on the Amazon IPO.

In Today’s Episode You Will Learn:

1.) How did Bill make his way into the world of VC from Credit Suisse and come to be GP at one of the world’s leading funds in the form of Benchmark? What were Bill’s biggest takeaways from seeing the boom and bust of the dot com? How did that impact Bill’s investment mentality today?

2.) Why does Bill believe that one of the biggest challenges today is the abundance of capital? Subsequently, does Bill agree with Peter Fenton statement, “never turn down a deal based on the valuation it is a mental trap”? How does Bill assess his own price sensitivity? What was his learning here in meeting Larry and Serge early on with Google?

3.) How does Bill think about and approach market sizing today? How important is it to him when analysing an investment? Where does Bill believe a lot of managers make mistakes when assessing market sizing today? What was his big lesson here with Uber? How does Bill think about and evaluate market creation and market expansion plays?

4.) Bill has spent over 3,000 hours on some of the most famed boards of the last decade, how has Bill seen his style of board membership change over the last 10 years? What advice would you give to someone who has just joined their first board? How does Bill think about time allocation across the portfolio? What is the right ratio?

5.) How does Bill and Benchmark approach the element of partner selection today? What are the 5 core things that Bill looks for when adding to the partnership? What have Benchmark done that have allowed them to be so successful in generational transition? Why is an equal partnership so transformative when it comes to generational transition?

Items Mentioned In Today’s Show:

Bill’s Fave Book: Complexity: The Emerging Science at the Edge of Order and Chaos

Bill’s Most Recent Investment: Good Eggs

As always you can follow HarryThe Twenty Minute VC and Bill on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Dec 23 2019 · 34mins
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Bill Gurley – Direct Listing vs. IPO - [Invest Like the Best, EP.144]

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My guest this week is Bill Gurley, general partner at Benchmark Capital. Our conversation is about one specific issue that has popped up as a topic of interest in the investing community in recent months: the comparison between bringing a company public through a traditional IPO vs. what’s known as a direct listing.

As a third party observer with no real dog in the hunt (as we don’t buy IPOs at O’Shaughnessy Asset Management), I thought this was a small and nuanced issue. I’ve therefore been surprised by the strength of opinions on both sides of this issue as I’ve explored it behind the scenes this past week. It feels almost like I’ve encountered a political third rail, where one side throws a lot of vitriol towards the other. 

To be clear, this episode is very much in favor of direct listings instead of traditional IPOs. For those that want a good discussion of the IPO process and its upsides, check out episode 173 of the Exponent podcast with Ben Thompson

Now please enjoy my very interesting conversation with Bill Gurley

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

1:22 - (First Question) – His view on the IPO process

5:42 – Will now be the turning point for IPO’s

6:40 – The engagement between a new company going public and their counterparty and the IPO process

13:38 – The math of capital costs

18:18 – Banks that underprice the IPO’s

20:45 – The psychology of IPO’s

23:14 – The pop in the IPO and the media

24:54 – The value that shareholders give vs VC’s

25:37 – The Green Shoots

28:17 – The lock-up

31:40 – Direct listings vs IPO’s

            36:07 – Spotify’s CEO Reveals Why He’s Not Doing a Traditional IPO

38:23 – The capital raised in an IPO and diluting the company

40:18 – Privilege access and buy-side firms

43:33 – What will actually lead to changes in the IPO space

44:48 – Why he became so interested in the IPO space

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on Twitter at @patrick_oshag

Sep 24 2019 · 47mins
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Bill Gurley – All Things Business and Investing - [Invest Like the Best, EP.137]

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My guest this week is Bill Gurley, a general partner at Benchmark Capital and one my favorite investment thinkers. As you’ll hear, despite enormous success through his career, Bill is clearly still in love with business and investing. Where many might discuss past glories, I’ve been incredibly impressed with how both Bill and his partners emphasize the current portfolio and market landscape. I’m thankful to have had the chance to speak with him in this format. I hope you enjoy our conversation.

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

1:13 - (First Question) – The idea of increasing returns

            1:21 – Competiting Technologies, Increasing Returns, and Lock-in By Historical Events

            2:07 – Complex Systems Theory – Santa Fe Institute

4:35 – Markers that could be a sign of network effect in a company

6:27 – The opportunities for companies to capture network effect

8:46 – Are there certain teams/leaders that are more conducive to leading a network effect company

11:55 – Liquidity quality

13:35 – How important is the revenue model at the beginning

15:59 – Fascination with Nextdoor

            17:56 – Paradox of Choice

18:39 – Finding opportunities

20:17 – Potential marketplaces and assets that could be commoditized

            20:20 – All Markets Are Not Created Equal: 10 Factors To Consider When Evaluating Digital Marketplaces

21:39 – Usage yield on the world’s assets

23:50 – Has technology changed the world of value investing

26:28 – Hyper niche marketplaces

27:52 – Challenges of labor marketplaces

30:12 – User generated content businesses

32:44 – People who are capable of building UGC businesses

33:16 – His interest in Discord

34:31 – Factors of a healthy marketplace

37:57 – Fools’ gold in marketplace businesses

39:04 – How influx of cash is impacting the marketplace business landscape

            40:43 – All Revenue is Not Created Equal: The Keys to the 10X Revenue Club

43:20 – How does the influx of money into the space impact him

46:44 – Spending money to attack top brands

50:32 – Regulatory capture

53:36 – His thoughts on the IPO market

57:49 – How did he realize this was his passion

1:00:42 – Qualifying his passion

1:01:52 – Favorite thing about working with entrepreneurs

102:48 – Honing your craft

1:04:33 – Making yourself a good mentor

1:05:56 – Kindest thing anyone has done for him

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on twitter at @patrick_oshag

Jul 02 2019 · 1hr 8mins
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20VC: Benchmark's Bill Gurley on 5 Traits Benchmark Look For When Adding To The Partnership, Why The Abundance of Capital Is Today's Biggest Challenge in VC & The Right Way To Think About Market Size When Assessing Opportunities

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Bill Gurley is a General Partner @ Benchmark Capital, one of the most successful funds of the last decade with a portfolio including the likes of Uber, Twitter, Dropbox, WeWork, Snapchat, StitchFix, eBay and many many more. As for Bill, widely recognised as one of the greats of our time having worked with the likes of GrubHub, NextDoor, Uber, OpenTable, Stitch Fix and Zillow. Prior to Benchmark, Bill was a partner with Hummer Winblad Venture Partners. Before entering venture, Bill spent four years on Wall Street as a top-ranked research analyst, including three years at CS First Boston where his research coverage included such companies as Dell, Compaq, and Microsoft, and he was the lead analyst on the Amazon IPO.

In Today’s Episode You Will Learn:

1.) How did Bill make his way into the world of VC from Credit Suisse and come to be GP at one of the world's leading funds in the form of Benchmark? What were Bill's biggest takeaways from seeing the boom and bust of the dot com? How did that impact Bill's investment mentality today?

2.) Why does Bill believe that one of the biggest challenges today is the abundance of capital? Subsequently, does Bill agree with Peter Fenton statement, "never turn down a deal based on the valuation it is a mental trap"? How does Bill assess his own price sensitivity? What was his learning here in meeting Larry and Serge early on with Google?

3.) How does Bill think about and approach market sizing today? How important is it to him when analysing an investment? Where does Bill believe a lot of managers make mistakes when assessing market sizing today? What was his big lesson here with Uber? How does Bill think about and evaluate market creation and market expansion plays?

4.) Bill has spent over 3,000 hours on some of the most famed boards of the last decade, how has Bill seen his style of board membership change over the last 10 years? What advice would you give to someone who has just joined their first board? How does Bill think about time allocation across the portfolio? What is the right ratio?

5.) How does Bill and Benchmark approach the element of partner selection today? What are the 5 core things that Bill looks for when adding to the partnership? What have Benchmark done that have allowed them to be so successful in generational transition? Why is an equal partnership so transformative when it comes to generational transition?

Items Mentioned In Today’s Show:

Bill’s Fave Book: Complexity: The Emerging Science at the Edge of Order and Chaos

Bill’s Most Recent Investment: Good Eggs

As always you can follow HarryThe Twenty Minute VC and Bill on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Jun 24 2019 · 34mins
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Bill Gurley: Venture Capitalist and General Partner at Benchmark

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The companies within Bill Gurley's investment portfolio have some clear similarities: great user-generated content, a reliance on the network effect and a "power to the people" mentality, meaning they put consumers first. But companies don't succeed solely because of their business model or mission - they also need strong leadership. According to Bill, great leaders tend to be unafraid, innately curious and bold. He looks for these qualities in the founder pitching the investment opportunity because - while the idea is important - it's the person who is going to execute it. In this episode, Bill references his 2012 essay, "The Dangerous Seduction of the Lifetime Value (LTV) Formula." You can read it in its entirety here.
Jun 30 2017 · 27mins
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VC Bill Gurley on transforming health care

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Washington has been gripped of late by the world’s most depressing, least imaginative, debate over health care. The question, as it stands, is whether Obamacare will survive (while being mildly, but persistently, sabotaged by the Trump administration), or whether it will be rolled back and replaced with a system that covers 24 million fewer people in order to fund tax cuts for the richest Americans. Huzzah!But a better conversation awaits. Bill Gurley is a partner at Benchmark Capital, and an early investor in Uber, Grubhub, Opentable, and more. In 2016, TechCrunch named him venture capitalist of the year. And for the last few years, he’s been studying the American health care system, trying to find an opening where technology can make a difference, and build a business. Now he thinks he’s found it.This is a conversation about what kinds of health care systems are, and aren’t, possible in this country. As you’ll hear in this discussion, I’m much more skeptical than Gurley is about both the need and the desirability for reforms that push costs onto consumers, but I agree with him that Obamacare has moved the system farther and faster in that direction than people realize. We talk about that, as well as why it’s been so hard for technology to cut costs in health care, the Singaporean health care system and the lessons American can learn from it, the way regulation protects incumbents, the government’s strangely structured investments in electronic medical records, and whether Silicon Valley’s move-fast-and-break-things culture can work for something as personal as medical care. We also discuss Gurley’s view that democracy and capitalism will, if given enough time, eat each other, and why he’s looking to China for the next great health innovations. This conversation won’t fix the American health care system, but it was, for me, a refreshing reminder that better, more productive discussions are possible. Books:“Catastrophic Care: Why Everything We Think We Know about Health Care Is Wrong," by David Goldhill"Startup: A Silicon Valley Adventure," by Jerry Kaplan“Myth or Magic - The Singapore Healthcare System," by Jeremy Lim"Shoe Dog: A Memoir by the Creator of Nike," by Phil Knight

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May 02 2017 · 1hr 15mins
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