VC Fundamentals: Consumer Investing Master Class with Sarah Tavel, General Partner at Benchmark

2020/7/7

ACQ2 by Acquired

Sarah Tavel

@Sarah Tavel 认为，消费品投资的吸引力在于其巨大的市场规模和赢家通吃的潜力，但同时也面临着较高的风险，因为成功与否很大程度上取决于运气和难以预测的市场因素。她强调，成功的消费品公司通常具有强大的网络效应，能够在竞争中脱颖而出。在投资策略方面，她表示Benchmark更倾向于在公司发展到一定阶段，有更多证据表明其潜力后才介入，而不是在早期阶段进行大量投资。她认为，创始人应该关注的是为买卖双方创造的整体积极体验（幸福感），而不是仅仅追求GMV。她还提出了一个衡量市场成功与否的指标——留存率，并解释了如何利用留存率来判断市场是否达到临界点。此外，她还讨论了不同类型的消费品投资，包括社交、游戏、消费级SaaS和播客，并分析了每种类型所面临的机遇和挑战。

Deep Dive

Chapters

Consumer investing is attractive due to the potential for massive market size and the possibility of achieving winner-take-most outcomes through network effects.

Shownotes Transcript

Benchmark General Partner Sarah Tavel joins us for a master class on consumer investing. We start with why invest in consumer at all (given the inherent risks of its "hit-driven nature"), then deep dive on marketplace investing and wrap up with social, gaming and consumer transactional businesses. Big thank you to Sarah for sharing her immense knowledge on this topic, and to her partner (and fellow Acquired "master class lecturer" on enterprise investing) Chetan Puttagunta for introducing us and for making it happen!

Sponsors:

Quartr

Links to Sarah's consumer investing blog posts:

"Hierarchy of Marketplaces" posts: https://medium.com/@sarahtavel/the-hierarchy-of-marketplaces-introduction-and-level-1-983995aa218e
"Hierarchy of Engagement" post: https://medium.com/@sarahtavel/the-hierarchy-of-engagement-expanded-648329d60804
Rocks, Sand, and Water Framework for Consumer Attention: https://medium.com/@sarahtavel/the-opportunity-and-risks-for-consumer-startups-in-a-social-distancing-world-a-framework-for-15f65e2fbdff

VC Fundamentals: Consumer Investing Master Class with Sarah Tavel, General Partner at Benchmark 01:03:49 Share

ACQ2 by Acquired

Deep Dive

Shownotes Transcript

VC Fundamentals: Consumer Investing Master Class with Sarah Tavel, General Partner at Benchmark