The cult of the founder and Silicon Valley’s lack of moral authority

INSUBCONTINENT EXCLUSIVE:
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.This
week Kate and Alex were back at TechCrunch’s San Francisco headquarters to chat the news with Kleiner Perkin’s Mamoon Hamid
Hamid is best known as a former member of the Social Capital team, and for driving generational change at Kleiner Perkins, a decades-old
venture capital firm.While we were prepping our notes, Airbnb announced that it is indeed going public next year
The firm’s terse statement launched 1,000 blog posts (here is one, here is another), while instigating a few jokes
After all, the IPO market is hot now
Saying that you are going to try your best to get out next year isn’t incredibly impressive from a firm with as many billions as Airbnb is
today
It’s also not at all surprising.Still, it’s a near-promise
And that means eventually we’ll get to see what the popular home-sharing and accommodations company spends all its gross margin on
Moving along, we discussed the recent WeWork revelations
If you haven’t read the Wall Street Journal’s piece on the matter, you must. It is chock-full of colorful anecdotes with WeWork’s
co-founder and CEO Adam Neumann front and center.Next, we got into the news concerning a split at Aspect Ventures, which TechCrunch covered
here
We had heard rumors about the split, first reported by The WSJ, for a few weeks now and were interested to discuss what drives these sort of
shake-ups with our guest.Scooting ahead, we turned to the early-stage market where quite a few of you, our lovely friends, have asked us to
spend more time
So, we talked at length about D2C startups, including the new, and we think cool Thingtesting business
You can check out their Instagram, the focal point of their business, here
Despite enjoying Thingtesting, Kate and Mamoon are bearish on the D2C movement.All that and we had a good time
Sorry about the lack of donut continuity in the video
We’re back next week with more, and we’ll see everyone at Disrupt in two weeks!Equity drops every Friday at 6:00 am PT, so subscribe to
us on Apple Podcasts, Overcast, Spotify, and all the casts.