Alan Patricof – Venture Capital's Founding Father

My guest today is Alan Patricof, founding father of venture capital and author of a new book entitled, "No Red Lights: Reflections on Life, 50 Years in Venture Capital, and Never Driving Alone." Alan and I dig into the book and we also cover a potpourri of topics that had me feeling inspired for many days after our conversation.

Among other areas, we discuss his love of music and how he started a disco tech in the 60's, why he missed Woodstock, and the fact that he attended Burning Man a few weeks ago (I'm still awaiting photographic proof!). We also hit on why Alan is perennially optimistic and the importance of making room for a whole life by being spontaneous  and not letting work absorb our free time. For example, Alan is a fan of taking people up on last-minute invitations to dinner or an evening event.

Alan and I also cover how he became chairman of New York Magazine, his first fund (called Decahedron), his longtime friendship with Sir Ronald Cohen, with whom he established the VC industry in the UK and France, resulting in high honors by both countries.

We also cover how Alan's father left the Ukraine as a boy and ultimately landed in New York, selling remnant clothing and working on Wall Street as a broker until the age of 89. Alan has a treasure trove of advice in the book. For example:

- Life is cumulative
- The next best thing to yes is a quick no
- Not to count on a cascade of miracles when running a startup
- When taking meetings, don’t think of it as transactional. Instead, think about how you can help the other person
- Listen to the last thing someone says before the elevator closes (it will likely hint at their true intention)
- ...And many more. Of note, Alan responds to every phone call within 24 hours.‍

We also discuss investing, of course, and how he views risk and reward with early stage companies. Alan's latest fund, Primetime Partners, focuses on the over 60 population (or the "ageless generation") and the fund's focus on investing in companies that are creating solutions and experiences for this ageless cohort.

I hope you enjoy!