#40- 2020: Reflections > Learnings > Guiding Principles
Reflecting on what I have learned in 2020
Since we are closer to the end of this bizarre and peculiar year gone by, our CIO requested the entire team to share individual accounts of ‘What did 2020 teach you?' & ‘What did you learn?’
I am taking this opportunity to introspect publicly.
2020 has been a 180 degree for me personally & professionally since I moved from a public equity profile to an early-stage VC profile. The two worlds are connected, yet poles apart. I believe my professional and investing career is an extension of my personal self because it is impossible to have two different faces.
And it is only useful if: Reflections => Learnings => Guiding principles
Relationships > Returns
This is my overarching theme for this year
Every episode in life (investing or otherwise) can be one to strengthen relationships
Good episodes mean you can strengthen relationships, bad episodes mean you can fall back on relationships
Human being first
Being an analyst in VC, one is permanently in the crosshairs since the position is one of gatekeeper without authority
Hence empathy, transparency, and communication becomes even more important
I have found that founders become much more appreciative the moment you start sharing your internal notes and memos with them highlighting how you are thinking
A few times despite us passing up on investments, founders have reached out for inputs, feedback & also provided references/introductions. This cant happen if you operate like a machine
Special mentions: Shiv, Divyanshu, Armaan, Niranjan
Jockey >/= Horse
The jockey is equally, if not more, important than the horse
Few times in the past year we have passed opportunities because we were not comfortable with the jockey. This reiterates #1 (Relationships > Returns)
This also means that you are the jockey for someone else:
They will prioritize your ethics more than your track record
Simplify & organize
Simplification might be time-consuming in the short run, but highly productive in the long run
Getting your affairs in order saves precious time during emergencies (i.e. a sudden event in a portfolio company, lest we forget COVID)
Writing always helps
Speaking is easy since you use gap fillers
Writing is difficult, but highly effective if done right
This always reminds me of the quote below by Marcus Cicero/Blaise Pascal (attribution unclear, messaging is loud and clear nonetheless)
Purpose + Passion, not Purpose/Passion
Quote by Valerie J Coleman: "Passion without purpose leads to frustration. Purpose without passion leads to procrastination. Passion with purpose leads to success"
Humility goes a long way
We work with people who are far brighter than we might ever aspire to be
And at times, it is very easy to confuse positional power for personal power
Rather have someone respect you for the person than for your position
Positions can be altered, or made redundant: you can not be
Long term > Short term
"Many people look for incremental opportunities when there are compounding benefits for staying where they are"
it's interesting that many people tend to move for incremental opportunities when it seems like there's compounding benefits to staying somewhere for 10+ years of course wherever you stay has to not suckThis goes for personal & professional relationships, and investments
Of course, with a caveat that staying where you are should not be grossly disadvantageous to you
Words are precious
Choose and use wisely, or not at all
Subjective > Objective
Going out on a limb here, and disagreeing with a vast majority of people who prefer Objective > Subjective.
Even robots & machines can be objective
Being subjective is to take into consideration your surroundings, experiences, and episodes
This is where you and your learnings come into the picture
I am sharing a quote on this by Heraclitus: "No man ever steps in the same river twice, for it's not the same river and he's not the same man."
It is vital to let your experiences, successes, failures, and learnings shape your decisions going forward. Stagnant water becomes putrid
Subjectivity embraces the grey areas in life
Do you wish to share your learnings publicly?