Frederik Nagel

Wing Venture Capital's Founder Docs project is a unique collection of startup wisdom, by founders, for founders. The authors of the docs are talented founders themselves, sharing their experience on the topics they are most passionate about. I'd like to highlight the contributions of Edo Liberty, founder / CEO of Pinecone. Edo writes about the special opportunities for the scientist / founder (and he is one of the best of this breed!), as well as some of the risks and challenges they face. I got a lot out of reading Edo's stuff and I suspect you will too! https://lnkd.in/g_wyRMiE

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If you’re looking for a great way to up your fundraising game this fall, check out my friends at Socap.ai (YC W23). They’re running a 4-week bootcamp for founders, offering two tailored tracks depending on where you are in the fundraising process. It’s perfect if you need a focused push and practical advice from seasoned founders. Definitely recommend giving it a look if you’re raising this season! You can easily apply on their site. #fundraising #founders

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Meta Q1 FY 24 Meta has two business segments: FoA: Family of Apps (Facebook, Instagram, Messenger, and WhatsApp). RL: Reality Labs (virtual reality hardware and supporting software). FoA Daily Active People grew 7% Y/Y to 3.24 billion. Zuck called out healthy growth in the US, on WhatsApp specifically. As expected, management stopped reporting Facebook standalone numbers. 📊 Ad impressions grew 20% Y/Y (vs. 21% Y/Y in Q4). Average price per ad grew 6% Y/Y (vs. 2% Y/Y in Q4). Growth was strongest in Europe and Rest of World. The average revenue per person grew 18% Y/Y to $11.20. Higher engagement met continued strong advertising demand. For context, 💰 Operating cash flow was $19.2 billion (53% margin, 4pp Y/Y). Free cash flow was $12.5 billion (34% margin, 10pp Y/Y). Balance sheet: Cash, cash equivalent, and marketable securities: $71.5 billion. Long-term debt: $18.4 billion. 👀 Q2 FY24 revenue was $37.7 billion in the mid-range ($38.3 billion expected). FY24 expenses $96-$99 billion (previously $94-$99 billion). FY24 Capex $35-40 billion (previously $30-$37 billion). So what to make of all this? User net additions were consistent with Q4 metrics. Meta still found a way to add another 50 million users to its Family of Apps. However, it was a slight slowdown after four consecutive quarters of accelerating growth. Revenue grew 27% Y/Y in constant currency. It was another acceleration from 23% Y/Y in Q4. The usual suspects were behind ad revenue growth: The online commerce vertical was the largest contributor to year-over-year growth, followed by gaming and entertainment & media. Growth was strongest in Rest of World (40%) and Europe (33%). 💻 Reality Labs revenue grew 30%, driven by Quest 3. The lower loss for this segment was primarily due to a favorable comp with restructuring costs last The operating margin improved following the “year of efficiency.” Meta incurred $3.5 billion in restructuring charges in FY23 (primarily facilities consolidation and employee severance costs). However, it was slightly down sequentially. 💰 Returning cash to shareholders: Stock buybacks were $15 billion in Q1, a huge increase compared to $9 billion in the prior year. Management still finds the stock attractive enough. They also paid $1.3 billion in dividends. Free cash flow hit a Q1 record, another manifestation of the year of efficiency. While Meta loses nearly $16 billion annually on Reality Labs, the company remains a cash-printing machine ($48 billion in free cash flow in the past 12 months). FY24 Capex and operating expenses were raised, primarily due to higher infrastructure investment to support the AI roadmap. #meta #ai #ads #growth

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The ‘help’ VCs offer that founders wish they’d skip : From unsolicited intros to random conference invites 😐! -Making random introductions that weren’t requested -Inviting founders to conferences where the VC is speaking -Providing strategic advice without understanding the startup’s specific context -Conducting frequent check-ins without offering meaningful support -Forwarding articles about competitors -Recommending broad networking connections that aren’t relevant -Offering unsolicited product UX suggestions -Imposing rigid meeting schedules at inconvenient times -Sharing generic industry trends without actionable insights -Sending irrelevant templates or tools that don’t fit the startup’s stage or needs -Offering feedback that feels more critical than constructive -Making broad claims about experience without engaging with the startup’s unique situation For VCs, adding real value means aligning support with the founder’s specific needs and goals. Any other pointers you like to add? Cc. Ed suh #startups #venturecapital #frustrations

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I remember the pitch deck. It was 2021, and Baubap, a Y Combinator startup, was disrupting the financial landscape in Mexico with their unique approach to microloans. They had impressive traction, but the valuation was high. Most investors hesitated. But I saw something different: a company with explosive growth potential, fueled by a data-driven approach and a strong team. I knew I had to invest. Fast-forward to today, and my investment in Baubap has grown 32x in just three years! On this week's Lobster Talks Podcast - Y Combinator Secrets, I share the insights behind this successful investment, outlining my investment criteria and why I prioritize growth and traction over sky-high valuations. Learn how you can: - Identify top-performing Y Combinator companies. - Maximize your chances of co-investing in these high-growth startups. - Unlock the "YC premium" and achieve greater investment returns. Watch the full episode now to discover the secrets behind my investment strategy and how you can find your own unicorn: https://lnkd.in/eUkUAYF4 #ycombinator #venturecapital #investing #startup #growth #unicorns #lobstercapital #baubap #fintech

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Miami Tech: @A16Z’s Exit - Setback or Setup for Reinvention? Yes, A16Z is a titan in Venture Capital, but Miami's story isn't defined by one player. 🔭 Let's zoom out & consider the real game-changers for Miami. •Commercializing university research.🔬 •Developing homegrown talent pipeline. 👩‍🎓 •Supporting VCs who are committed to the long journey of Florida & Miami’s innovators.💡 • Leveraging Miami's unique place as a testing ground for ideas, especially at pre-seed. 🌊 •Ensuring Miami is a place with sufficient opportunity on ramps. 📈 Miami's diversity, global connections, increasing status as a hub of capital remain unmatched. This reset could be our catalyst for a more resilient, diversified tech ecosystem. Just this week we saw Miami founder, Joey Levy have a successful exit of Simplebet to DraftKings Inc. We win as an ecosystem when we play to our own unique strengths, not when we try to duplicate other players like SF or NYC. We are running our own race 🚀

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