Joe Medved of Lerer Hippeau joins Nick to discuss The 'Softbank Effect', Financial Discipline and the Interworkings of a Top Seed Investment Firm. In this episode, we cover:

The focus at Lerer Hippeau
The adoption and integration of the Binary Capital Portfolio
Why they dropped ventures from the name
Joe's take on the "Softbank Effect" and the challenges and opportunities created by it.
how founders should think about raise amount and valuations
The effect of late-stage capital on early stage investors
The capital strategy mistakes that lead to startup death
Joe's take on early-stage investors taking early exits when they are offered liquidity.
The strategy for their sixth, $150 million fund
How Joe's team approaches sourcing, vetting, diligence
LH's focus on outbound vs. inbound
Joe mentions a key analysis item that is often overlooked by many investors
Lerer Hippeau's portfolio management process: How often they interact and what activities they engage in.
The impact of raise amount on outcomes

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The 'Softbank Effect', Financial Discipline and the Interworkings of a Top Seed Investment Firm

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified