Jigar Patel

Wannabe Artist | Banker @SVB_Financial | @Columbia_Biz Alum | Proud Cleveland/OSU Sports Fan

[Jigar Patel @JigaByte]

@FeartheFroPod Hah, might as well enjoy the journey. This app is pretty epic and easy to make new songs after every game in any style.

[Pritesh | Indie Hotels @PriteshSMB]

I lived in a motel from 4th grade until I went to college.

On the one hand, I was the only kid in class with an indoor pool.

On the other, we lived in a motel 😅.

7 days a week my parents covered the desk, housekeeping, laundry, breakfast, and everything else.

On the weekends me and my two sisters would help make beds. Scrub bathrooms. Fold towels.

If I had a soccer game on a Saturday, I would clean rooms before, play the game, and help when I got back.

It didn't feel fair at the time. But even as a kid, I understood how hard my parents worked to give us a good life.

I always had a roof over my head. I was never hungry.

Maybe it’s a cultural thing, but I don’t separate my success from my parents. Everything I’ve accomplished is because of them.

My dad didn’t graduate high school, my Mom never went to college.

But I got a Masters from Carnegie Mellon.

I got the grades and the scholarships, but they instilled the right values for me to win.

I’ve made my share of mistakes, but I’ve also knocked some shit out the park.

I’m proud to say I didn’t get there alone, and my family would say the same thing.

Cheers to all the strong families out there and everyone building their own!

[Jigar Patel @JigaByte]

Proud of you, brother. Can’t wait to see the next Hotel Pom!

[Pritesh | Indie Hotels @PriteshSMB]

America has over 100,000 hotels and motels.

My family owns 2 of them. They came here with nothing, now they are millionaires.

How did they do it?

Worked like dogs for 22 YEARS.

Lived modestly. Never racked up credit card debt. Understood that leasing a car is great way to set cash on fire.

Put 3 kids through college. Bought a modest house.

I'm grateful for everything they sacrificed.

But dang, 22 years and only 2 hotels?

My dad ran one, mom ran the other. How could they run a third?

I made a spreadsheet in 5th grade to help my mom do payroll faster.

I told her we could save time and give to the accountant. "why pay them when I can do it?"

She used it until I took over 😄

In two years I was able to retire them both.

Just for that I'm already stupid proud. But that's not enough.

I'm on a mission to grow. Doubled revenue location #1. Full steam to deflag and reno location #2.

Building a bad ass regional independent hotel brand in Iowa.

Wouldn't it be easier to shack up with a franchise? Yes.

But guess I'm a bit stubborn like my mom. Why pay them when I can do it myself?

[Sheel Mohnot @pitdesi]

I'm encouraging our portfolio companies to keep their money at SVB, & encourage you to do the same.

It's the safest place to put your money - fully guaranteed with no $250k limit.

We (tech/VC's) really need SVB & have a real chance to bring it back or find a friendly home.

[Tim Urban @waitbutwhy]

Population density thread because you and I both know you have nothing better to do.

Let's start with this cool way to visualize population density, by @undertheraedar. The height of each spike displays the population density in that location.

[Jigar Patel @JigaByte]

@BIGPLAY_dave Spoken like a true Browns fan

[Sundeep Peechu @speechu]

Who wants to reinvent TiE? It’s probably been irrelevant for 20 years.

[Jigar Patel @JigaByte]

@loganbartlett You left off the other 5 people that had a conflict and will surely watch the recording later in the day

[Jigar Patel @JigaByte]

Emerging managers/GPs, check out the latest article from @NatalieFratto on data room best practices, according to LPs.
https://t.co/fhnVoGCqya

[Jake Mendel @ijakemendel]

The @SVB_Financial + @AngelList State of Early-Stage Venture report just dropped!

Some high-level takeaways:
-valuations way up
-web3 + fintech lead the way
-more funding backing female-led cos

Some of the best charts below 👇🏼

[Jigar Patel @JigaByte]

@ijakemendel @Bosefina Work at SVB long enough and you’ll have enough fleeces and apparel to last a month.

[Jigar Patel @JigaByte]

@RBonner_ I still don’t know what’s happening

[saar gur @saarsaar]

Guessing that right around now is the time in the cycle that younger VCs will learn that there can be a huge gap btw unrealized values/mark-ups and actual returns/DPI. Mark-downs, lack of secondary buyers, no exit in sight are realities of the business. Winter is here/coming. 😊

[Jigar Patel @JigaByte]

@nihalmehta Obviously researching the current state of Indian agtech...

[Jigar Patel @JigaByte]

Excited to share @SVB_Financial's latest #FamilyOffice report. Despite current market volatility, with 24% avg. IRR in '21, there's still plenty of interest from FOs to invest in venture, esp. specialist VC funds and ESG/impact-oriented opportunities.
https://t.co/OtvraAmFPj

[Jigar Patel @JigaByte]

Great dialogue on how the current market pullback might impact GPs raising their first fund. No tweet storm; just a good back and forth dialogue.

[Bryce Roberts @bryce]

This pullback likely to have very real impact on available ‘22 LP dollars.

Respect to anyone trying to raise a new fund in this year.

[Jigar Patel @JigaByte]

@Nrcoope @bryce With that said, I do expect LPs to be more cautious investing in first time managers that don’t have a lengthy track record.

[Jigar Patel @JigaByte]

@Nrcoope @bryce 100% agree. VC fund investments have a 7+ year horizon before seeing meaningful returns. ‘Gross’ perf metrics are good to track but shouldn’t dictate future investments. This correction may end up benefiting ‘22 vintages if private co valuations come down.