nyft spresentation
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Leigh A. DrogenFounder and CEO
At least that's not my signature
Tech and Finance, two very different worlds
My quantitative DNA plays huge role in my philosophy
Started Surfview Capital in 2008
Social media + finance created a massive opportunity
Open philosophy, ideas not identities, community
StockTwits = unstructured data, Estimize = structured data
Howard fired me, I'm grateful
Been fired from every real job I've ever had
2,300+ buy side and independent analysts
We sell data
Agnostic towards identities
Focused on slicing and dicing based on corpus
Moneyball for earnings estimates
Rank and rate analyst on Accuracy, many other statistical levels
The first ones through the wall get a little bloody
Is accuracy or representativeness more important?
Building premium layers
Rank and Rate, Sort and Filter
Save filters, get alerted when something matches
Select Consensus
Further quantitative measurement
Big things coming soon
It's messy, lot of mistakes
Would not have started Estimize if I didn't have conviction
Your idea is the least important part
It's all about execution
Hustle is far more important than skill or intelligence
You have to do alchemy
Keep your company alive long enough to see it work
Make people believe, team, VC's, friends, family, everyone
Be able to admit quickly when you don't have a necessary skill set
Put your ego down, ask for help, give help on a regular basis
Always be recruiting, always
Recruiting walks > meeting rooms
Understand who you're hiring, age mismatch can be a problem
How will they react under pressure, can you go to war with them?
Tried to outsource front end, massive failure, process is key
January 2011 ran out of money after 95K seed
Jesse held it together
Found Brian on Angel List
Brian made a bet on us
He had Leverage
Brian brought in Adam, we had a team
Raising A round was hugely different from Angel Investors
Disappointed in San Fran
Had to go learn
Found people who helped
Its not a conversation. Make people believe
Blitz don't spread it out, one massive dot no lines
Avoid the Whale
Life on the buy side is structured, startup is chaos for your life
People know what's coming, you need to be delusional
This process is emotionally exhausting
Keep yourself in the game at a high level
Thomson and Capital IQ have massive innovators dilemma
Start open or exclusive?
Buy Side guys predictably irrational about transactional model
People often perceive value with a transaction associated with it
Build a moat of as many contributors as possible