Posted on 9th August 2023 by Harry
Jason Lemkin is the Founder @ SaaStr one of the best-performing early-stage venture funds focused on SaaS. In the past, Jason has led investments in Algolia, Pipedrive, Salesloft, TalkDesk, and RevenueCat to name a few. Prior to SaaStr, Jason was an entrepreneur, selling EchoSign to Adobe for $100M where it is now a $250M ARR product.
In Today’s Episode with Jason Lemkin We Discuss:
1. WTF is Happening At Seed Right Now:
- Why does Jason believe seed is more active than ever?
- Is the pricing of seed rounds impacted since the downturn?
- Why does Jason believe it is not only not the end of party rounds but just the beginning of them?
- Why does Jason believe you cannot fail if you have $1M in ARR and an amazing founder?
- Why does Jason believe that seed investors cannot participate in “hot seed rounds” anymore?
2. Is Series A a Dead Zone:
- How does Jason analyze the Series A and B environment today?
- What has changed in what investors expect and want to see in potential Series A and B investments?
- What happens to the many companies who raised pre-emptive Series As and have 10 years of runway but no product-market fit?
- Why does Jason believe founders should offer to give the money back when it is not working?
- What happens to the Series A and B market in the next 18 months? When does it come back?
3. Growth: People are Too Negative!
- Why does Jason believe that growth is more active than many are giving credit for?
- What are the ARR benchmarks required to get a good growth round term sheet today?
- Why does Jason believe that VC DD is a load of BS?
- Why does Jason believe that every VC has fraud in their portfolio? Will they come out?
4. Ring That Bell: IPOs and M&A:
- Why does Jason believe 2024 will be an amazing year for IPOs?
- Why does much of the IPO market rely on Stripe and Databricks?
- What is needed for an amazing 2024 IPO market?
- How does Jason evaluate the M&A market in 2024? Will regulation get in the way?
5. Jason Lemkin: AMA:
- Why does Jason Lemkin believe this generation of workers will never work hard again?
- What is the only way for seed funds to make money investing in serial entrepreneurs?
- What does Jason know now that he wishes he had known when he started investing?