Tech Investment Strategies: How Andy Lurling and LUMO Ventures Empower Startups for Success
Andy Lurling invests in tech startups through LUMO Labs, and he looks for companies that make money and do some good in the world at the same time. David and Andy talk about how he picks which startups to back, why so many founders build a first product that's far too big, why your co-founder matters so much, and why most startups end up failing.
If you're building a tech company, start at 22:45 for the MVP bit and 51:04 for why startups fail.
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Andy and LUMO Labs: http://www.lumolabs.io
Website: https://www.freqency.com
LinkedIn: / david-mullett-💪-3a9273159
Email: [email protected]
00:00 Intro
02:30 Andy's route into tech investing
05:15 Starting LUMO Labs
07:45 Having a clear plan for investing
12:15 Why your network matters
15:30 How Andy picks startups
22:45 Why your MVP should be simple
27:30 Timing and product market fit
31:49 Finding the right co-founder
34:00 System thinking and big problems
37:56 Investing in products that do good
44:34 Don't change your vision for investors
47:00 How networks help startups
49:18 Nexus Impact Society
51:04 Why most startups fail
54:35 What's next: a new fund
56:58 Thanks and goodbye