Listen to our midweek chat with USV’s Albert Wenger
Earlier this week TechCrunch caught up Union square ventures“(USV) Albert Wenger. Wenger, a managing partner of the venture capital firm, is well known on the New York startup scene. USV invested in former startups like Twitter, Twilio, Etsy and Cloudflare.
TechCrunch hits a base with a number of investors during the economic downturn caused by COVID-19. Everyone is already at home, in front of a computer, so why not put them on the phone? (To follow @TechCrunch for updates, we will keep the series alive for the next few weeks with more neat guests.)
We wanted to know what Wenger thought about the level of fear in his local market and how many cash startups should hold during the COVID-19 era. On this last point, Wenger noted that the current situation of each company is diverse enough to avoid any single rule, but suggested that companies with healthy donors do not have to hold as much cash because they have access to more; the weaker the investment syndicate of a startup, the more it must hold cash, because that could be all the money to which it has access.
We also took the time to talk about PPP loans and the types of startups that should apply for them, a topic that Wenger wrote on. There is a moral point in the discussion which deserves to be understood.
We also answered a number of questions from people connected to Zoom during the call and we generally had a good time. We kept the audio, so listen. If you wanted to see the TechCrunch video Jordan Crook and Alex Wilhelm talk to Wenger, all three in a different state, you missed. Come to our next Public Zoom!