An Introduction
Who I am. Why I'm writing this blog. And, why I'm interested in VC.
If you’re reading this, you might have the wrong article. I know the title of this blog (VC Novice) pertains to VC, but as it implies, the words inside aren’t those of a veteran investor - don’t look me up because you won’t find “Ryan Spiegel, GP at [insert accomplished VC firm].” Instead, you’ll find something along the lines of “Ryan Spiegel, sophomore at The University of Michigan.” If you really search, you might find my LinkedIn which states my interest in VC and has a few facts on me, but that’s about it.
I’m not saying this to put myself down or be self-deprecating, I just want to tell you the truth of the situation: you’re reading the words of a 19-year-old student with little “real-world” experience.
That’s not to say I see this as a bad thing, either. I don’t; rather, I am empowered by inexperience. As Daniel Gulatini explains in The Inexperience Advantage, inexperience is a superpower. It often means we are not “shackled with”1 decades of difficult-to-break habits. Obviously experience isn’t bad… it’s often critical - it can just be limiting.
What’s more, this inexperience is the very reason I’m writing this article: to learn enough so that one day my words are backed by true experience and knowledge. This might sound contradictory to what I said earlier, but again I wasn’t not claiming that experience isn’t important - it is and it’s what I’m chasing - I was just showing that inexperience has advantages, too.
While I could have written about anything, I’ve chosen venture capital because it’s my greatest interest. It’s a space where I can express my intellectual curiosity, where I can be social, and where I can be creative. That is, a place where I can learn by socializing with inspirational people, exploring ground-breaking ideas, and thinking critically about “the next big thing.” Where I can fall down rabbit holes - like how the internet works or why Moore's law is slowing down - and that’s okay, even embraced!
I actually first found my interest in venture capital after falling down a rabbit hole. I was 16 and had just co-founded a food-insecurity-focused nonprofit called Doorstep Donations. I loved everything about life as an operator - I loved the workflows, the creativity, and the teamwork - so I researched/worked incessantly, eventually stumbling upon venture capital (from both my own research and people in my network). I discovered Y-combinator and Insight Partners and became fascinated with the idea of working with not just one startup - like I had been - but multiple. I was obsessed with the proposition of learning from and working with more than one startup, more than one industry, and more than one team. And, through venture, I could do just that.
Venture capital also gives me the opportunity to learn how I learn best: by doing. Sourcing, diligencing, and pitching are hands-on projects that make information resonate for me.
Although I haven’t formally worked in the industry, through venture capital internships and clubs I’ve put my interest in VC to the test and it’s not only remained, it’s deepened.
This recent point - learning by doing - is yet another reason why I started this blog. It’s easy to read Zero to One and #BreakingIntoVC and call yourself a VC expert, but true expertise comes from hands-on experience. With this blog, I’ll track my experience exploring VC. For one part, I’ll build a mock VC firm - a fully thought-out firm with a thesis, mandate, and PortCos - but without any real investments or LPs, while in other articles I’ll explore trends, companies, or other VC-related topics I find interesting. I might not gain complete VC competence, but I’ll hopefully build a foundation.
This blog will keep me accountable for exploring VC and help me learn by forcing me to synthesize/formalize my thoughts and progress each time I publish.
In the next article, I’ll begin building the mock VC firm, starting with building out my thesis.
I’m excited to begin this journey!
If you’re reading this and have any thoughts, advice, or questions, please reach out!
The Inexperience Advantage (2023) by Daniel Gulatani