In this interview, Shardul Shah discusses venture capital with Harry Stebbings, sharing lessons he's learned over his 20-year career at Index Ventures. They explore the importance of being authentic, not assimilating into firm culture, and focusing on fund-returning investments rather than playing promotion games. Shardul emphasizes intentionality, the value of mentorship, and the significance of conviction in founders, even when prices are high. He also touches on risk management, the trap of TAM, and the balance between intuition and analytical frameworks. The conversation further explores conviction building, decision-making processes, and the future of venture capital, including the impact of AI and changing investment landscapes. Shardul shares insights on being a valuable board member, the right time to sell, and constructing effective angel and operator networks for startups.
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