Gavin Baker+ Your Authors @GavinSBaker Husband, Becky Painter. CIO, Atreides Management. Former PM, Fidelity OTC fund. No investment advice, views all my own. gavin-s-baker.com/ May. 25, 2020 1 min read + Your Authors

1) Often think of Ron Conway saying that the secret of his success was *only* investing based on the metrics.

“Other VCs say: Does this idea make sense? How big could it be? Do I like the product? Not us. We just invest behind the best metrics.”

Simple is beautiful.

2) In some ways, this is the opposite of the Peter Lynch training in which I was steeped during my formative years as an investor but both philosophies are powerful.

3) So many of the best venture investments of the last 12 years had incredible metrics from a very early stage, but were undervalued because they didn’t make intuitive sense to some VCs. They didn’t “love” the product or understand how others could.

4) Important to note that Peter never said to avoid investing in companies where you did not love the product.

Only that *if* you loved the product, you’d probably end up loving the stock.

And he invested in many companies with great metrics.

5) Learned so much from Peter over the years. He is an incredibly flexible thinker and I am certain he would’ve crushed it as a VC.


You can follow @GavinSBaker.



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