Scott Sandell, Managing General Partner, and Rick Yang, General Partner and Head of Consumer Investing was featured on The Twenty Minute VC for a conversation around our original investment in Robinhood.
In this episode with Scott Sandell and Rick Yang you will learn:
1.) How Rick came to meet Vlad, Robinhood Founder, for the first time? What impressed Rick most in that first meeting? How did the internal discussions proceed at NEA? Was it a unanimous decision to make the investment?
2.) The Market:
- How did Rick and Scott evaluate the market at the time? Bottoms up, top down?
- How did the market change and evolve both in ways they did and did not expect?
- How do Rick and Scott evaluate market timing risk today when investing?
- How did Rick and Scott approach outcome scenario planning with Robinhood?
3.) The Traction:
- What core signals and datapoints made Rick realise Robinhood had product-market-fit?
- How did Rick and NEA analyse Robinhood’s early organic customer acquisition? How did the board advise on how to spend their first marketing dollars?
- How does the cost structure of the business compare to Charles Swaab and eTrade? Why is Robinhood such a superior model?
4.) The Team:
- How has Vlad evolved and developed as a leader over time?
- How did Vlad handle the 36 hours in Feb 2021 when he had to go and raise $3BN+?
- Who is the unsung hero of the Robinhood team? What have they done to deserve this?