20VC: Vinod Khosla on What Venture Assistance Really Means, Why Many VCs Are Not Qualified To Advise Founders & Why Startups Can Innovate So Much Faster Than Incumbents

**Harry Stebbings** (0:00)
This is The Twenty Minute VC with me, Harry Stebbings, and if you'd like to see all things behind the scenes here, you can on Instagram at hstebbings1996 with two Bs. We have some big travels this week, and so there'll be some fun content there. But to the episode today, and my word, I've wanted to do this episode ever since I started the show over five years ago. He's a legend of the industry and a true pioneer, and I couldn't be more honored to welcome Vinod Khosla to the show today. Vinod is the founder at Khosla Ventures, one of the valley's most renowned firms of the last decade, with a portfolio including the likes of Square, Affirm, DoorDash, Impossible Foods and OpenDoor, just to name a few. As for Vinod, he started his career as a founder, founding Daisy Systems, a company that went on to IPO. Then in 1982, Vinod founded Sun Microsystems, where he pioneered open systems and commercial risk processors. In 1986, Vinod then joined his longtime friend John Doerr and became a general partner at Kleiner Perkins or KPCB, where he helped incubate Juniper Networks and helped transform the telecommunications business with Cerent Corporation, which was ultimately acquired by Cisco Systems in 1999 for $7.2 billion. I do also want to say a huge thank you to his wonderful partner Samir for providing some fantastic questions and suggestions today. I really do so appreciate that. Before we move into the show's day though, I wanted to take a moment to mention HelloSign, a great example of a company that found success in building a product focused on user experience. HelloSign is an effortless e-signature solution used by millions to securely send and request legally valid digital signatures and agreements. I have to say, I absolutely love their design and workflow. It's just so intuitive. And they've raised a total of $16 million in funding and recently got acquired by Dropbox for an impressive $230 million. Check out hellosign.com forward slash 20VC to join thousands of companies and founders who value fast, secure and simple e-signatures. And if HelloSign saves the day for signatures, him saves the day for wellness as the wellness brand for men. Did you know that by the age of 50, 85% of men have significantly thinning hair? And don't think I'm immune to this with my youth as approximately 25% of men begin experiencing effects of male pattern baldness before they turn 25 So we need to get our act together. Hence the HIMS, the one-stop shop for hair loss, skincare and other wellness supplements for men. We mentioned the 50-year-old and 25-year-old there and that's where HIMS are great because they recognize that there are very different kinds of hair loss. So HIMS offers various treatments to help men find effective solutions that really work for them. And for 20 VC listeners, you get the first month free. Go to 4hims.com forward slash 20VC5. That's 4hims.com forward slash 20VC5. Disclaimer, prescription requires an online consultation with a physician who will determine if a prescription is appropriate. Offer valid only if prescribed, three-month minimum subscription, additional restrictions apply. See website for details and important safety information. Remember, that's 4hims.com forward slash 20VC5. And this episode is also brought to you by the store of Silicon Valley Banking, Silicon Valley Bank. For over 35 years, Silicon Valley Bank has been the bank for visionaries of all kinds, people and businesses who've revolutionized everything from software to social media, from workspaces to wine. With nimble banking services and solutions, Silicon Valley Bank helps startups adapt to the changing needs of a growing company. Learn more at svb.com back slash next. That's Silicon Valley Bank, ideas bank here. But that's enough from me, so now I'm very, very honored to hand over to Vinod Khosla, founder at Khosla Ventures.
You have now arrived at your destination.
Vinod, what many do not know is that when I started 20VC four years ago, I wrote a list of three people that I most wanted to have on the show, and your name was absolutely one of them. So I couldn't be more excited to have you on the show today. So thank you so much for joining me today.

**Vinod Khosla** (3:48)
Well, it's exciting to be here. I was wondering what took you 2,800 episodes to get here.

**Harry Stebbings** (3:55)
Vinod, I'm going to be honest. I wanted to ensure that, A, we had a substantial enough audience, and I wanted to ensure that you would do it. And so I'm thrilled that you have agreed to do it. But I do want to start today on a little bit of context about you. So tell me, how did you make your way into the wonderful world of venture? Let's start with just that as an entry.