David Schneider: Why the Worst VCs are "Seagull VCs" & VC Value Add - Is it Real? | E1200

David Schneider is a General Partner @ Coatue and one of the great operators of the last 20 years. Prior to Coatue, David was instrumental in ServiceNow’s growth to over $100B+ public market value. David led the growth of the company from $100M to $5BN in revenue. Before joining ServiceNow, David held senior positions at Data Domain, the company he joined at $0 in revenue and scaled to $1BN in revenue and an IPO and acquisition. ----------------------------------------------- Timestamps: (00:00) Intro (01:06) Highlighting Key Achievements from an Operating Career (05:41) Biggest Takeaways in Hindsight from David’s Career (06:42) Is Adding or Removing a Line Item Key to Successful Tool Integration? (09:45) How David Approaches Competition When Investing (14:20) Balancing Transparency and Morale as a Leader (16:45) ServiceNow's Success Highlights (20:42) External Hires vs. Internal Promotions: Founder Advice (24:22) Hiring & Ramping 180 People in 90 Days (27:09) How Important Market Size in Investment Decisions Today (28:33) How Sales Leadership Sharpens Diligence & Referencing Skills (30:20) Biggest Mistakes Made at ServiceNow (33:30) Lessons from Tackling the Multi-Product Challenge (40:05) Given Advice to David on Entering Venture (42:21) Reasons Why Businesses Plateau (51:27) Is Feedback to Founders Still Valuable? (57:51) David’s Top 3 Board Members Likes Working With (01:02:09) Quick-Fire Round ----------------------------------------------- In Today’s Episode with David Schneider We Discuss: ServiceNow: Secrets to Scaling to $5BN in ARR: What are David’s biggest lessons from scaling ServiceNow to $5BN ARR? What worked? What did not work? What are the most common reasons companies plateau? How did ServiceNow roll out so many different products so effectively? How did David hire and ramp 180 people in 90 days? 2. From OG Operator to Newbie Investor: What have been the single most challenging elements of making the transition to VC? What advice did David get from the biggest names on entering venture? How long did it take David to do his first deal? What advice does he give other operators entering? How does doing deals in 2024 compare to when David started doing deals in 2021? 3. VC Value: Do 90% of VCs Really Damage Companies: Does David agree that 90% of VCs actually detract value? What does David mean when he says that the worst VCs are “seagull VCs”? What are David’s biggest tips to founders on how to get the most out of their board? What is enough ownership for David to really give the time needed to a company? 4. Lessons from the Greats: Doug Leone, Bill McDermott, Frank Slootman: Doug Leone: What has David learned from Doug on what it takes to be a great investor and board member? Frank Slootman: What has David learned from Bill on how to be the best leader of a mega company? Bill McDermott: What has David learned from Frank about decision making and execution? ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow David Schneider on Twitter: https://twitter.com/1daveschneider Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #davidschneider #venturecapital #coatue #generalpartner # #leadership #servicenow #hiring #dougleone #frankslootman #billmcdermott

David SchneiderguestHarry Stebbingshost

Sep 11, 20241h 11mWatch on YouTube ↗

EPISODE INFO

Released: September 11, 2024
Duration: 1h 11m
Channel: The Twenty Minute VC
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

David Schneider is a General Partner @ Coatue and one of the great operators of the last 20 years. Prior to Coatue, David was instrumental in ServiceNow’s growth to over $100B+ public market value. David led the growth of the company from $100M to $5BN in revenue. Before joining ServiceNow, David held senior positions at Data Domain, the company he joined at $0 in revenue and scaled to $1BN in revenue and an IPO and acquisition. ----------------------------------------------- Timestamps: (00:00) Intro (01:06) Highlighting Key Achievements from an Operating Career (05:41) Biggest Takeaways in Hindsight from David’s Career (06:42) Is Adding or Removing a Line Item Key to Successful Tool Integration? (09:45) How David Approaches Competition When Investing (14:20) Balancing Transparency and Morale as a Leader (16:45) ServiceNow's Success Highlights (20:42) External Hires vs. Internal Promotions: Founder Advice (24:22) Hiring & Ramping 180 People in 90 Days (27:09) How Important Market Size in Investment Decisions Today (28:33) How Sales Leadership Sharpens Diligence & Referencing Skills (30:20) Biggest Mistakes Made at ServiceNow (33:30) Lessons from Tackling the Multi-Product Challenge (40:05) Given Advice to David on Entering Venture (42:21) Reasons Why Businesses Plateau (51:27) Is Feedback to Founders Still Valuable? (57:51) David’s Top 3 Board Members Likes Working With (01:02:09) Quick-Fire Round ----------------------------------------------- In Today’s Episode with David Schneider We Discuss: ServiceNow: Secrets to Scaling to $5BN in ARR: What are David’s biggest lessons from scaling ServiceNow to $5BN ARR? What worked? What did not work? What are the most common reasons companies plateau? How did ServiceNow roll out so many different products so effectively? How did David hire and ramp 180 people in 90 days?
1. From OG Operator to Newbie Investor: What have been the single most challenging elements of making the transition to VC? What advice did David get from the biggest names on entering venture? How long did it take David to do his first deal? What advice does he give other operators entering? How does doing deals in 2024 compare to when David started doing deals in 2021?
1. VC Value: Do 90% of VCs Really Damage Companies: Does David agree that 90% of VCs actually detract value? What does David mean when he says that the worst VCs are “seagull VCs”? What are David’s biggest tips to founders on how to get the most out of their board? What is enough ownership for David to really give the time needed to a company?
1. Lessons from the Greats: Doug Leone, Bill McDermott, Frank Slootman: Doug Leone: What has David learned from Doug on what it takes to be a great investor and board member? Frank Slootman: What has David learned from Bill on how to be the best leader of a mega company? Bill McDermott: What has David learned from Frank about decision making and execution? ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow David Schneider on Twitter: https://twitter.com/1daveschneider Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #davidschneider #venturecapital #coatue #generalpartner # #leadership #servicenow #hiring #dougleone #frankslootman #billmcdermott

SPEAKERS

David Schneider
guest
Harry Stebbings
host

EPISODE SUMMARY

In this episode of The Twenty Minute VC, featuring David Schneider and Harry Stebbings, David Schneider: Why the Worst VCs are "Seagull VCs" & VC Value Add - Is it Real? | E1200 explores from Seagull VCs to ServiceNow: David Schneider Redefines Value-Add David Schneider, ex–Data Domain and ServiceNow revenue leader and now growth investor at Coatue, discusses how real operating experience translates into meaningful VC value-add versus performative, low-value board behavior he calls “seagull VCs.”

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