Failure as Forerunner to Success

Published on
March 22nd, 2019
Duration
63 minutes

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34

Failure as Forerunner to Success

The Interview ·
Featuring Howard Morgan

Published on: March 22nd, 2019 • Duration: 63 minutes

Howard Morgan, co-founder of First Round Capital, is one of the most successful tech VCs in history. He is also one of the original team members at Renaissance Technologies, which is one of the world’s most successful quant hedge fund. But in this interview with Grant Williams, Morgan says that failure is as important as success for entrepreneurs. He explains why venture capital is in a state of flux, and provides useful context for the backlash against large technology companies. He also speaks about the TIGER 21 organization. Filmed on January 30, 2019 in Boca Raton, Florida.

Comments

  • ER
    Ed R.
    15 April 2019 @ 19:31
    0 0
    Great interview and some fascinating insights. Really enjoyed. Thank you RV.
  • OD
    Orin D.
    12 April 2019 @ 08:30
    0 0
    that was a top 10 interview. He is an investing legend and so we'll spoken and concise
  • SS
    Shanthi S.
    30 March 2019 @ 21:25
    1 0
    Great interview!
  • LC
    Lloyd C.
    25 March 2019 @ 09:32
    1 0
    The future will probably see more privacy respecting ads being deployed directly into the web browser, whilst shielding user data on the device: https://www.cnet.com/news/brave-browser-fix-for-online-advertising-pays-you-to-view-ads-that-respect-privacy/
    • TR
      Travis R.
      25 March 2019 @ 18:39
      3 0
      Yes sir, absolutely. I have been on Brave since last Dec, and it is a FANTASTIC.
  • SC
    Sajad C.
    25 March 2019 @ 09:18
    3 0
    Brilliant. A great insight into what it takes to be the next Uber, FB.
  • jl
    jay l.
    24 March 2019 @ 19:42
    0 0
    look's like grant was thinking about GOLD in the last question.
  • MK
    Michael K.
    24 March 2019 @ 16:40
    1 0
    Wonderful talk and thankful he was so open. At the same time important to note how he’s talking his own book trying to fade the tech backlash.
  • KB
    Keith B.
    23 March 2019 @ 22:40
    12 0
    What a breath of fresh air on RVTV from 74 year old Howard. Notice how elegantly he handles the popular “end is nigh” concerns such as “algos are risk to the system” rather than a permanent and dominant feature of it and source of liquidity (not just use), or “big tech and FB in particular are doomed, given abuse of user data and privacy concerns” rather than a multi-billion user natural monopolies that are going to adapt and thrive irrespective of headlines. Hats off to Grant for bringing him on and engaging with him open mindedly, despite potentially disagreeing on some topics discussed. This is what it should be about, bringing high quality guests on air and interviewing them with grace, let alone someone as brilliant, accomplished and interesting as Howard. This was easily Top 5 interviews to date. Kudos 10/10
  • KJ
    Keith J.
    23 March 2019 @ 21:27
    1 1
    Interesting comment about the brokerage fees being driven down causing investors to miss out on the Ubers and Airbnbs where they did not on the Apples and Microsofts in the past. Facebook is “free” at the point of use. Perhaps a case of people being penny wise but pound foolish, as we say in the UK. Passive investing is probably another example of the same thing. On another note I agree with his comments about people gaining advantages by being 3 metres closer to the exchange etc. This should be regulated away if there was any competence shown by the relevant authorities.
  • TT
    Talmadge T.
    23 March 2019 @ 20:50
    2 0
    With all these IPOs coming out his insight about unicorns was fascinating...
  • MC
    Minum C.
    23 March 2019 @ 14:24
    9 10
    I am horrified by many of Mr Morgan's comments. A company like Facebook has proven by science to be bad for society. There is a reason why there's a backlash against this company. It is the Marlboro of the 21st century. I'll take science over a wealthy man's (biased) opinion every day of the week.
  • MS
    Max S.
    23 March 2019 @ 09:07
    7 0
    One of my favorite interviews so far, really enjoyed it. Makes me want to find a TIGER 21 organization for my own level
  • DD
    Daniel D.
    23 March 2019 @ 00:07
    13 0
    I found this very interesting and really was impressed with Howard. He's intelligent, thoughtful, insightful and has some great historical perspectives due to his length of time in the VC world. Thank you Howard and Grant.
  • EA
    Eric A.
    22 March 2019 @ 19:59
    10 1
    Test

Chapters

  1. 00:02:05
    Howard Morgan, the Lapsed Academic
  2. 00:03:59
    Renaissance Technologies
  3. 00:08:48
    The Rise of the Machines
  4. 00:11:37
    What Happens When Market Momentum Shifts?
  5. 00:16:37
    Becoming a Venture Capitalist
  6. 00:22:04
    How Sell-Side Research Changes Drove VC Concentration
  7. 00:26:06
    Uber was a Bet on the Jockey, not the Horse
  8. 00:31:32
    The Backlash Against Technology Companies
  9. 00:37:58
    Natural Monopolies and Network Effects
  10. 00:41:58
    How is Venture Capitalism Changing?
  11. 00:47:53
    Failure is as Important as Success
  12. 00:55:01
    TIGER 21