What It Takes to Build a Startup | Andrew Chen & Matt Perault

Matt Perault sits down with Andrew Chen, General Partner at Andreessen Horowitz and Speedrun lead, to discuss the realities of building a startup from day one. They delve into the unique challenges faced by small, early-stage teams, often referred to as "little tech," and how the regulatory environment impacts their ability to innovate and grow.

The Speedrun Program: Nurturing Early-Stage Startups

Andrew Chen kicks off the conversation by explaining the A16Z Speedrun program. It's designed to find and support founders at the very beginning of their entrepreneurial journey, often when they're just starting to think about their companies. "Our job is to try to find them on day one when the founders are just starting to think about their companies," Chen states. The program hosts a 12-week intensive experience, primarily based in the San Francisco office, where founders receive up to a million dollars in investment. The focus is on "brand new startups," often comprising two to three people, who might still have full-time jobs or have just graduated from school. These founders are typically working from their kitchen tables, focused on getting a product to work and finding their first customers. The program provides them with the full resources of A16Z, including relationships and expertise, and culminates in a demo day where they present to over a thousand angel investors and seed funds. Chen emphasizes that this is often the beginning of a "lifelong relationship" with these founders, with the hope of investing more in their future ventures.