USV’s Albert Wegner talks about the state of Internet investing

I had a chance to sit down with Albert Wegner of Union Square Ventures yesterday as part of a book I’m working on.

Wegner is a gracious and brilliant man. He offered his insights on a wide range of topics. It’s a must listen for any entrepreneur or investor. If you’re not already a reader of his blog, Continuations, you should be. It’s fantastic.

I will be using this content for a book as well as blog posts. But in the spirit of the Internet, I’m making the audio available in advance.

Among the topics we covered:

  • Current valuations in private markets.
  • The rise of mobile.
  • Network effects businesses.
  • Advice for public market investors thinking about Internet companies.
  • Decline of newspaper industry.
  • Groupon.
  • JOBS Act.
  • Kozmo vs. Postmates.
  • How the IPO process can be improved.
  • Agency problems between GPs and LPs.

I don’t have the time right now to transcribe this. So I’m going to start an experiment: I’ve created a Google Doc. Anyone is welcome to edit it.



About Rakesh Agrawal

Rakesh Agrawal is Senior Director of product at Amazon (Audible). Previously, he launched local and mobile products for Microsoft and AOL. His personal blog is at and tweets at @rakeshlobster.
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