Sourcing a Deal with Semil Shah

I think being in venture capital for more than a couple years—unless you really love it and are committed to it—is a complete, absolute, banging waste of time.

If you're naturally curious about markets and what's happening in the world and learning and connecting with people and just even helping someone informally that you met... that is the key thing to unlock. And I would say, if you don't have that, just go home.

There's so much in this business we can't control. And one of the things we can control is who we spend time with and who we have conversations with and who we help out in the community.

I have a very strong point of view that if people are curious about venture, they should start early and figure out in the 6 to 12 months, like, do I love it or not? And it's okay if you don't love it.

It's a people flow business, and that when you meet a lot of people and you help them, or you're direct with them, or you're honest with them, or you're swift with them, or even do things like say no in the meeting, or get back to them in a normal manner, over time, especially in the Bay Area and now in other places, that network effect can compound of other people sending you things.

I think there are 101 ways to source a potentially good investment or high-potential investment. And so, to me, it's not about if you're a player on the field, do you do that the right way or the wrong way; it's a way that can get to the outcomes you eventually need.

I'll never forget Keith Rabois once tweeted years ago; he said, 'One of the best ways to raise a series A round is to get a lot of series A partner meetings,' because then you get on the radar. VCs don't want to admit this, but I think the reality is that they want to know they're competing for something that their peers also view is interesting.

It all stems from someone's curiosity. Like, if you're hungry to make money, you're going to suck at sourcing.