Netflix's Journey, Building TCV, and Investing Through Downturns (with TCV co-founder Jay Hoag)

We had the rare opportunity to interview Jay Hoag, cofounder of the first tech crossover investing firm, TCV, at TCV’s Engage Summit in Half Moon Bay earlier this fall. Jay and Rick Kimball started TCV back in 1995 and have been part of the private-to-public journeys of storied companies like Netflix (which Jay shares some great war stories about on this episode), Spotify, Zillow, Expedia, Facebook, Airbnb, Peloton and many others. Jay and TCV were kind enough to let us release the conversation as an Acquired LP episode, and we’re excited to share it with all of you. We cover the firm’s history, how companies should calibrate the magnitude of their future-looking product investments (a topic we didn’t realize would end up being so timely) and perhaps most importantly, pivotal moments where now seemingly unstoppable companies almost died amidst big macroeconomic changes. We hope you enjoy!

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• The Acquired Merch Store
• The Acquired Slack

Sponsors:

• Sierra: https://bit.ly/acquiredsierra

Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.