Clementine Gazay

tech investor @ XAnge | enterprise software, cybersecurity | mostly tweeting notes-to-self

[Clementine Gazay @clemgazay]

@packyM best weekend read. Absolutely insane that this is has all happened in ~15 years. The potential for the next 15 is out of this world.

[Packy McCormick @packyM]

a16z: The Power Brokers

There is this story about Marc Andreessen that I think perfectly captures a16z.

in 2015, when New Yorker writer Tad Friend sat down to breakfast with Marc Andreessen while writing Tomorrow’s Advance Man.

Friend had just heard from a rival VC who wanted to get a word in: that a16z’s funds were so large, and ownership percentages so small1, that to get 5-10x aggregate returns across its first four funds, they’d need their aggregate portfolio to be worth $240-480 billion.

“When I started to check the math with Andreessen,” Friend writes, “He made a jerking-off motion and said ‘Blah-blah-blah. We have all the models—we’re elephant hunting, going after big game!’”

The aggregate portfolio did not end up being worth $240-480 billion. a16z Funds 1-4 had a total enterprise value of $853 billion at distribution or latest post-money valuation. Since distribution, Facebook alone has added $1.5 trillion in market cap.

Some form of this pattern keeps playing out: a16z makes a crazy bet on the future. Those in the know say it’s stupid. Wait some years. Turns out it’s not stupid!

Which is why, as a16z announces $15 billion in fresh funds, it is probably a mistake to dismiss them as greedy or stupid.

It's probably worth understanding just exactly what IT'S TRYING TO BUILD.

That's what I do in today's not boring deep dive:

a16z: The Power Brokers

[Clementine Gazay @clemgazay]

@XAngeVC is hiring two VC Associates in Paris and Germany. Want to join an international, ambitious team on the hunt for Europe’s next unicorn? Apply here 👉🏻 https://t.co/k5CYCzIS9E
#VC #hiring #paris #berlin

[Picus Capital @picuscap]

Our Partner Julian joined a LatAm VC discussion w/ Mariana Donangelo (@KaszekVentures), Carlos Alonso (@fintech_io), Paulo Passoni (@valorcapital), Bruno Yoshimura (One VC), & Izabel Gallera (@canary_ventures) at @Columbia_Biz for @lavca_org Week.

🙏 to @clemgazay for hosting!

[Clementine Gazay @clemgazay]

Loved collaborating with fintech collective on this piece - link below to read more about the intersection of climatech and fintech

[Picus Capital @picuscap]

Following a productive and energizing Climate Week in NYC, we are excited to share our latest thought piece "Climatetech & Fintech: Converging into the 2020s" which we had the honor of co-authoring with the wonderful team at @fintech_io.

Full article: https://t.co/QqoWgX7JB6

[Picus Capital @picuscap]

To celebrate Climate Week, we were excited to co-host a wine-tasting event in collaboration with @BainCapVC & @EnergyImpact_ in our NYC office.

A special thank you to everyone who attended and to our hosts Grace, Francesca, @clemgazay, @ecampbellhowe & Min!

#ClimateWeekNYC

[Picus Capital @picuscap]

Together with @M13Company, we brought together interns from different VCs to foster connections and relationship building across the industry.

We loved meeting with interns from @WhiteStarCap , @Creadev, @BoweryCapital, @MVPvc, @IlluminateFM, @FPrimeCapital and more!

[Picus Capital @picuscap]

“Electrifying everything” is our path forward. 🔌

Join us for our upcoming #Energy & #Climate Insight Series, where in the first "Energy Markets 101" article our team provides insights into the inner workings of the #electricity grid.

Read more here: https://t.co/R3D1P5AW4N

[Clementine Gazay @clemgazay]

Excited to share my work with ⁦@northzoneVC⁩ ! Here’s why I think 2023 could be clean energy’s year
👉🏻 https://t.co/eaEp3kHa5H

[Picus Capital @picuscap]

We had a great time co-hosting our #ClimateTech Happy Hour with @CeezerOfficial, @collabfund, @greycroftvc & @insightpartners at our NYC office last week - bringing together bright minds from across the climate tech sector of both the US & Europe.

Thanks to everyone who joined!

[Clementine Gazay @clemgazay]

So cool to hear @BeyondMeat CEO & founder Ethan Brown @Columbia_Biz. Alternative protein is such a major lever in decarbonization & next gen food consumers just won’t have the same attachment to animal meats - just a matter of taste and cost

[Clementine Gazay @clemgazay]

One of the major cornerstones of a successful entrepreneurial ecosystem is one that doesn’t associate failure and fear. Another is the presence of engineers.

[Clementine Gazay @clemgazay]

Waze’s @UriLevine1 stopped by @Columbia_Biz this afternoon & had so much entrepreneurial wisdom to share. Among my faves -

[Clementine Gazay @clemgazay]

The only metric that matters when defining product market fit is retention. People will come back to using a product that brings them value.

[sharlene 🫶🏽 @sharlene_g_]

Thanks for stopping by @LererHippeau office @Columbia_Biz, @AdetolaTweets @_johnsonator !

[Clementine Gazay @clemgazay]

I wrote for @Columbia_Biz’s @Forbes column on venture opportunities in cyber for Web3! Read here 👉🏻 https://t.co/zxonPLDthV

[Clementine Gazay @clemgazay]

@alexandre_dewez Such a complete document! Great work 💯 & must read to understand French venture ecosystem

[Clementine Gazay @clemgazay]

Cyber tech will survive 2023's investment slump, here's why: https://t.co/enIVrfyWL5

[Clementine Gazay @clemgazay]

My corporate finance professor clarifying that using ChatGPT for the final exam is an honor code violation = education system wake-up call

[Clementine Gazay @clemgazay]

@NotionHQ Copying/pasting pages within other pages! And creating templates/reproducing pages based on templates