Earlier this week theinformationsuperhighway caught up with Albert Wenger of Union Square Ventures (UPS). Wenger, managing partner of the venture company, is well known in the New York startup scene. UPS has invested in previous startups like Twitter, Twilio, Etsy and Cloudflare.
theinformationsuperhighway touches a number of investors during the COVID-19 economic slowdown. Everyone is already at home in front of a computer. So why not make a call? (Follow @theinformationsuperhighway for updates. We'll keep the show alive with nicer guests for the next few weeks.)
We wanted to know what Wenger thought about the level of fear in his local market and how much money startups should keep during the COVID-19 era. On the latter point, Wenger found that the current situation of each company is reasonably different to avoid a single rule, but implied that companies with healthy donors do not have to hold as much cash as they have access to more. The weaker a startup's investing syndicate, the more cash it should hold, as this may be all the money it has access to.
We also took the time to talk about PPP loans and what types of startups should apply for them, a topic Wenger wrote about. There is a moral point in the discussion that is worth understanding.
We also answered a number of questions from people set to zoom during the call, and generally had a good time. We kept the audio. So listen. If you wanted to see the video of theinformationsuperhighway's Jordan Crook and Alex Wilhelm talking to Wenger, each of the three in a different state, you missed it. Come to our next public zoom!