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Zibby Owens
Hi, this is Zibby Owens and you're listening to Totally Booked with Zibby, formerly Moms don't have Time to Read Books. In my daily show, I interview today's latest best selling, buzziest or unfair underrated authors and story creators whose work I think is worth your time. As a bookstore owner, publisher, author, and obviously podcaster, I get a comprehensive look at everything that's coming out and spend my time curating the best books so you don't have to stay in the know. Get insider insights and connect with guests like I do every single day. For more information, go to zibbymedia.com and follow me on Instagram at Zibby Owens.
Jenny Fielding
Jenny Fielding is the author of Venture.
Zibby Owens
Travel, Entrepreneurship and A Roadmap for Life.
Jenny Fielding
Jenny is a seasoned venture capitalist and technology trailblazer with a diverse background in law, finance, and entrepreneurship.
Zibby Owens
As the founder of two tech startups.
Jenny Fielding
She understands the challenges of building companies from the ground up. Now, with a decade of investing experience And a portfolio valued at $10 billion. Jennie leads everywhere Ventures, the Go To Venture fund for early stage founders around the beyond investing. Jenny is an adjunct professor at Columbia University and Cornell Tech where she inspires the next generation of entrepreneurs. A sought after speaker, Jenny has been featured on Bloomberg TV, the Wall Street Journal, Forbes, and TechCrunch, among many others. Welcome, Jenny. Thank you so much for coming on Totally Booked with Zibby to talk about venture everywhere, travel, entrepreneurship, and a roadmap for life. Congrats.
Thanks so much for having me.
Thank you for taking me all over the world with this fabulous travelogue slash advice book slash mem. I don't know, inspiration owed to grandparents. All of it. Congrats. It's so great.
Thank you.
Why don't you tell listeners a little bit about the book and why you decided to write it?
Yeah. Well, the book is about global entrepreneurship and what we can all learn from founders building companies around the world. And so I've traveled, as I mentioned in the book, to over 100 countries and I've met some of the most inspirational and very successful entrepreneurs building companies like far from the glow of Silicon Valley. And through my kind of interactions with them, I noticed a common archetype and theme and perspective that started to kind of bubble up about the way that they view the world, the impact that they want to make. And I distilled that down to a few kind of key characteristics, and I wanted to share that with the world. I feel that so much is being written by kind of the same folks that we hear about all the time, the Mark Zuckerberg of the world or the Bill Gates. And those are great inspirational stories. But what about, you know, the person that grew up in a small town in Pakistan and, you know, grew a company into, you know, multibillion dollars? Right. And so why aren't those stories really being shared? And so I wanted to shed some light on that.
Amazing. Well, one thing you do sort of throughout the book is you notice like you're on the phone with somebody and you notice when their delivery comes in in India in like two seconds. And you, you just pick up on all of these things that maybe that's not even why you were on the phone to begin with, but you have this extra sensory ability to figure out what each country is offering, what they're doing, how to get involved, what's special, whether you're finding a place to stay in Spain or the Philippines. It's amazing. So you've uncovered all of these fabulous entrepreneurs and you've Profiled a bunch of them here. Tell me about that instinct that makes you such a great venture capitalist yourself.
Well, I spent many years as a founder and I learned a lot of hard lessons, you know, everything from, you know, finding the right co founders or not to having the right go to market. And I made a lot of mistakes along the way. And it's been great to kind of jump to the other side, to be an investor and be able to kind of share very openly what I didn't get right and, you know, help founders kind of see around corners. And so I think when I made the jump to the, you know, to the dark side of entrepreneurship, I thought that my job was going to be something a little bit different. It was going to be helping founders with kind of product and strategy and go to market. But what I realized, it was much more about people and helping them kind of get out of their own way. And this is, especially at the early stage, it's not really about numbers and metrics. It's about inspiration and Personas and really finding folks that have these incredible visions. And so that's all to say that you become a really good listener and observer of what's around you. And so my job is really to meet these incredible entrepreneurs who are changing the world and try to understand them. And the best way to understand them is to listen and to ask a lot of questions. And so that's what I've been doing for the last decade. You know, as I travel around the world, I meet these incredible founders and then I start kind of teasing out what are their stories, because you might hear something on TechCrunch or read in the Wall Street Journal, those aren't the real stories of what inspired these people. And so I wanted to kind of draw that out. And I think as an early stage investor, that is really our job. And I think there's kind of a misperception that we go around kind of giving people cash. And that is one part of the job. But really it's about being acutely aware of what the trends are and the best people to tell you who the trends are, the entrepreneurs on the ground.
So give us the background of your founder experience and so we can understand how you ended up here. Talk about the BBC and TechStart and all of your stuff.
Yeah, so like many people had a more traditional upbringing. I mean, I grew up in New York City. You know, I went to, you know, whatever schools and I went to law school and I found myself at J.P. morgan. I was kind of on this track And I didn't set out to be an entrepreneur, but one day I had an issue that I just didn't see was right in the world. So I personally wanted to solve something and I didn't even think of it as a company. I just thought of it as this was an annoyance and it probably was annoying other people. And I wanted kind of solve that. And that turned into my first startup. So, you know, lo and behold, 2007, New York wasn't a very entrepreneurial place. And everyone thought like, oh, you've got this kind of high profile job at JP Morgan, like what's this side thing, you know, that you're doing? But I really just set out to solve a problem in the world. Something that, you know, wasn't really lining up with how I thought, you know, the world should be. And that was kind of my foray into entrepreneurship. And so I took a big risk and I decided, you know, maybe I had checked a lot of boxes along the way, you know, going to certain schools and going to law school and doing all these things, but what was my real mission and passion and did I have the courage to pursue that? So it was a real inflection point, starting my own company and kind of breaking out of the mold and deciding to chart my, my own path. And from there it happened to be in technology.
Go back to what the issue was you were trying to solve. What was the annoyance?
Okay, well, it was kind of a fun story, which was I had a boyfriend who was living in Germany at the time. And 2007, when you Germany, it was like $2aminute. And so my phone bill was just like absolutely outrageous. And then I noticed, well, it wasn't just me, it was like anyone living in New York that wasn't from here calling their family, calling their friends, they were just paying so much. And so I thought, gosh, there's gotta be a better way to solve this. So again, I'm working as a banker at JP Morgan and I'm like kind of hacking on this nights and weekends, trying to figure out like, what's a better way to make inexpensive international calls. So something that seemed kind of small actually like impacted a huge number of people. So everyone who's a first generation American has family internationally. Anyone who's doing business is probably has business contacts that they're calling internationally. So it turned out to actually be quite a big market.
Wow. And then in the end you were like, sorry, Johan, Johan has to go. Right?
Yeah. Ultimately that didn't work out, but it really did set Me on the path of kind of entrepreneurial endeavors and just realizing that I wanted to be part of solving problems in the world, whether they were small, like international calling, or some of the stuff that I invest in now, which is a lot around healthcare and climate and, you know, really important issues.
It's amazing. So in the book, you, after meeting all of these CEOs, founders, all of it, you have come up with these archetypes like Moxie and tell us more about the different, the different types of thinkers. And as I'm reading it, I'm like, okay, maybe that's me. That is definitely not me. Okay, maybe, you know, the systematic, you know, engineering brain type of founder, which is not me at all.
Yeah. So as I'm talking to these founders, getting to know them over the years, I start realizing and kind of distilling patterns and kind of archetypes and how they see the world is often, you know, colored by, you know, how they grew up and their perspective. And so I started kind of writing down notes on what these were. This actually didn't start out to be a book. It actually I do a lot of short form contact blogs and LinkedIn and all of that. And so I was kind of, you know, working on some profiles of what these archetypes for success were. And all of a sudden as I started interviewing these founders, I was like, wow, there's so much more here. So I distill it down to six characteristics. You know, some of them are really fun, like Moxie, but what that really means is that you have to be bold. Like being an entrepreneur isn't about fitting in. Right. It's taking these risks and, you know, having the courage to, you know, charge a path that some people won't feel good about. And so I think Moxie is a really interesting one, especially in a world where social media and everything is about fitting in and being liked. Real entrepreneurs have a chip on their shoulder and they have something to prove to the world. And sometimes they can be a little prickly. And so I think that's a really interesting characteristic to kind of call out as I'm interviewing some of these founders, I'm like, wow, these are not go with the flow people.
Interesting. Does that mean if you are go with the flow, you're not going to be a good founder?
I think that all different types of Personas can be successful. These were just some of the patterns that I noticed, especially with international founders, right. Who've had a lot of life challenges and they've had to be in many cases Survivors. I mean, I interview people that come from war torn countries that have had to evacuate their countries that have had to go from growing up in a small village where none of their family was educated to being plucked into the United States and having to survive there. So I think these kind of backgrounds are really what fuels the entrepreneurial journey. And you can have all different types of backgrounds. These were just some of the ones that I thought kind of stood out in my decade of meeting with founders.
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Jenny Fielding
And take us through a couple of the other ones.
Yeah, so Moxie is a really fun one. I think another interesting one is this idea of elasticity. And so maybe some people would call it resilient, but this idea of kind of flexibility and being adaptive, it's really about kind of what I was saying before. And I think maybe as a founder I was this Persona. So it resonates. It's about being able to read the room and in any given situation, in that moment, adapt to what's required. So elasticity is one that we see very commonly Founders need to respond to data quickly, potentially pivot their business, and really adapt to a lot of different stakeholders, whether it's what customers want, what their investors want. And so, you know, that kind of idea of being resilient, I think came up, you know, in many of the interviews. So that's one that's very personal to me and, you know, I really appreciate.
Amazing. I feel like I related the most to the first one.
Kinetic.
Kinetic, right, where you're like, feel it. Yeah, hold on. You have elastic. Having conviction, being kinetic. Having moxie. Thinking macro and being systematic. Yeah, kinetic, where you're just like feeling things and you're going after it and you try it and.
Zibby Owens
And.
Jenny Fielding
Yeah, yeah. So in one of the interviews, I think it's the first chapter, it's a founder named Lori who built a company called Kovac, which is really the leading marketplace for secondhand cars in Mexico. And this company is a multi unicorn and one of the huge success stories of Mexico. And Lori had a very interesting background. She grew up in Venezuela. Her family had to leave for political reasons, and she really kind of had to find her way. But really what kind of fueled her, she just had this incredible enthusiasm and, and she was able to adapt. Whether she came to the United States, which was very unfamiliar, or moved to Mexico, which wasn't a home country, she was able to kind of learn fast, act fast. And I think that really kind of served her when she decided to start Quebec. And she's just had incredible amount of success. So that kind of high cadence thinker who moves quickly and acts on data is something that we really look for in entrepreneurs. And I think Lori and some of the founders really exhibit that nicely.
So what can the average reader take from this book? Somebody who's like, maybe they have ideas, they're probably not gonna pursue them, but they appreciate a great new business or a great new product. Your book takes us all over the world, right? We're introduced to so many cultures, and you really, like, have us at the table with you or in the Internet cafe or wherever we're. Wherever you are. So tell us a little more about what you've gained from all these travels. And you have extensive relationships now, which is amazing, but most people have not traveled as much as you have. So what are we missing? Tell us.
Well, it's interesting, you know, this book is kind of called a business book, and there's definitely some business principles in it, but I think if you kind of, you know, peel the onion a little bit, the book is really about, you know, Having the courage to charge your own path, right? And it took me a little bit of time. I was kind of on one track. And we see most people in the. The world, you know, they're kind of going through the motions, and sometimes they don't exactly know why. And so the book is really, you know, to prod yourself, to really think deeply about, you know, the world that you want to live in and how you get there. And for me, it was around travel and exposure to new cultures, to new people, to new thinking that really got me out of my maybe myopic view of the world, which is kind of funny because I grew up in New York City, so you'd think I was exposed to many things. Truth is, I had a very kind of small view of the world in some ways, and so the travel really opened it up for me. But I don't think you have to travel. It's about interacting with other cultures and other people. And, you know, one of the key messages in this book is, like, maybe 20 years ago, you could, you know, do really well in your career by, you know, just kind of knowing people in your community or in America or whatnot. Now there's hardly, you know, any organizations where you're not interacting with people around the world. Right. That you don't have colleagues in other places or customers in other places. And I think we all need to learn to be global citizens. You know, I learned it very firsthand by, you know, going on a trip with my grandmother when I was very young and kind of seeing different people and exploring the world a little bit. But I think that we can do that, you know, wherever we're living, by just exposing ourselves to things that maybe feel uncomfortable and different.
I loved your opening in particular, and how vividly you describe this trip and your grandparents in general, and you following your grandmother in her hot pink tracksuit and, you know, your grandfather, the rings that he gave her and the chains and her giving you the key so you could run all over the hotel.
And, yeah, that was the kind of entrepreneur of the time. I mean, my grandfather owned fruit stores in Brooklyn, right? And he had to deal with, you know, the garbage mafia and the these people stealing from him. And, like, it was all this drama, but, like, those were the original entrepreneurs. I think now we think of entrepreneurs as kind of tech entrepreneurs. We think of them as the Elon Musk. But the truth is, like, this country is fueled by entrepreneurs who are running small businesses, and that's really where my family came from. But that entrepreneurial spirit of Like, I'm getting up every morning to run my business. No one's telling me what to do. I have to have the agency. And so that was, like, a model that really resonated me with me. And I saw growing up, and yet I went into, you know, something that was way more traditional. Right. I went to law school, and I worked at J.P. morgan, and I kind of did all these, you know, worked for other people in a very traditional way. And one day I kind of, like, looked in the mirror and I thought, you know what? I'm more entrepreneurial than this. Like, I have more to offer. And I am someone that takes agency and that thinks differently and kind of moves through the world a little bit differently. And I need to act on that and have the kind of courage to do that.
So what's one piece of advice you could give people who have an idea or they're thinking about doing something, even if it's something as simple as, like, reorganizing their kitchen or just something that, like, feels like, you know, they're. Whether they want to start a business or redo the way that has been done. Right. What do you say to those people?
Yeah. So I think there's this misperception that you need to go all in, right? That you need to, you know, stop doing what, you know, your day job, to kind of focus on this. And that's the entrepreneurial journey. Well, in my world and my personal experience, I've actually never done that. So I started my startup while I was working at JP Morgan. So I did that nights and weekends. My venture fund, Everywhere Ventures. I started that while I was working at techstars. That was my nights and weekends fund. And so my advice to people is that it seems really daunting and scary to kind of put everything in your life aside to, you know, to pursue an entrepreneurial endeavor or a big project or whatever that is. But I think you can kind of, in small ways, just start working towards that, reserving a few hours on the weekend or just being really focused on it. And I don't think that gets talked about a lot, actually. It's kind of like, well, you have to do it all at once. And I think many entrepreneurs are very iterative, and you can learn a lot by just spending a little bit of time educating yourself, going out and talking to potential customers or partners and all these things. And I'd encourage people to kind of do that, and when you are ready to make the leap, then you can do that. And so it was actually funny for me I'm working at JP Morgan, I'm working on my startup in my living room nights and weekends with my co founders and we launched this product and all of a sudden we have cash coming in, we have revenue. And my friends looked at me, they're like, I think you're going to have to quit the day job. And I was like, oh really? And it hadn't even really occurred to me. And so I think that when you get really excited about something, you can just really lean into it.
That amazing. Well, Jenny, congratulations venture everywhere. Thank you for the ride of a lifetime going on, all the adventures with you and thanks for all the support you give to the people who need it most.
Thanks. This was super fun.
Thank you.
Zibby Owens
Thank you for listening to Totally Booked with Zibby, formerly Moms don't have Time to read Books. If you loved the show, tell a friend, leave a review. Follow me on Instagram, Izippy Owens and Spread the Word. Thanks so much. Oh, and buy the books.
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Podcast Summary: Jenny Fielding on "Venture Everywhere: Travel, Entrepreneurship and a Roadmap for Life"
Introduction
In this episode of Totally Booked with Zibby, host Zibby Owens welcomes Jenny Fielding, a seasoned venture capitalist, technology trailblazer, and author of the insightful book Venture Everywhere: Travel, Entrepreneurship and a Roadmap for Life. Jenny shares her extensive experiences in global entrepreneurship, her journey from a traditional career to venture capital, and the key archetypes that define successful entrepreneurs worldwide.
Guest Introduction: Jenny Fielding
Jenny Fielding is the founder of Everywhere Ventures, a prominent venture fund dedicated to early-stage founders beyond traditional Silicon Valley confines. With a diverse background encompassing law, finance, and entrepreneurship, Jenny has amassed a portfolio valued at $10 billion over a decade of investing. She also imparts her knowledge as an adjunct professor at Columbia University and Cornell Tech, inspiring the next generation of entrepreneurs. Her expertise and unique perspective have earned her features on Bloomberg TV, the Wall Street Journal, Forbes, and TechCrunch.
Quote:
“Jenny is a seasoned venture capitalist and technology trailblazer with a diverse background in law, finance, and entrepreneurship.” — Zibby Owens [02:34]
Background and Entrepreneurial Journey
Jenny recounts her transition from a traditional career path to embracing entrepreneurship. Originally on track to a stable career at J.P. Morgan, Jenny experienced an inflection point when she identified a personal problem that resonated with a broader audience. This realization propelled her into entrepreneurship, leading to the founding of her first startup focused on affordable international calls—a venture inspired by her own high phone bills while maintaining relationships abroad.
Quote:
“I set out to solve a problem in the world, something that wasn't really lining up with how I thought the world should be.” — Jenny Fielding [07:24]
Despite initial challenges and the eventual discontinuation of her first startup, Jenny emphasizes how these early experiences fueled her passion for solving global problems, particularly in areas like healthcare and climate.
Exploring Global Entrepreneurship through "Venture Everywhere"
Venture Everywhere is more than a business book; it is a travelogue and a compilation of inspirational stories from entrepreneurs across over 100 countries. Jenny's extensive travels allowed her to meet founders operating outside the traditional tech hubs, uncovering unique perspectives and strategies that contribute to their success.
Quote:
“The book is about global entrepreneurship and what we can all learn from founders building companies around the world.” — Jenny Fielding [03:40]
Jenny identifies a gap in the storytelling of entrepreneurship, which often highlights well-known figures like Mark Zuckerberg or Bill Gates, while overlooking remarkable founders from diverse backgrounds and regions.
Archetypes of Successful Entrepreneurs
A significant portion of Jenny's book revolves around identifying and analyzing different archetypes of entrepreneurs. Through her interactions with founders, she distilled six key characteristics essential for entrepreneurial success, particularly among international founders who have often overcome substantial life challenges.
Moxie: Boldness and the courage to take risks. Entrepreneurs with Moxie are not about fitting in but about forging their own paths, often exhibiting a “chip on their shoulder” mentality.
Quote:
“Real entrepreneurs have a chip on their shoulder and they have something to prove to the world.” — Jenny Fielding [10:34]
Elasticity: Flexibility and adaptability, enabling founders to pivot their business models in response to market demands and stakeholder needs.
Quote:
“Elasticity is about being able to read the room and adapt to what's required in any given situation.” — Jenny Fielding [14:35]
Kinetic: A proactive and action-oriented approach, where entrepreneurs feel deeply and pursue their visions with relentless energy.
Jenny emphasizes that these archetypes are not exclusive but represent patterns she observed, especially among founders from challenging backgrounds who have had to be resilient and adaptive.
Global Insights and Cultural Exposure
Jenny highlights the importance of cultural exposure and global citizenship in today's interconnected business landscape. Her travels have not only broadened her perspective but also underscored the necessity for entrepreneurs to engage with diverse cultures and ideas to drive innovation and growth.
Quote:
“Exposure to new cultures and people really got me out of my maybe myopic view of the world.” — Jenny Fielding [17:35]
She advocates for embracing discomfort and engaging with different cultures as a means to expand one’s worldview, whether through extensive travel or local interactions, to foster a more global mindset essential for modern entrepreneurship.
Personal Stories and Lessons Learned
Through personal anecdotes, Jenny illustrates the entrepreneurial spirit ingrained in her upbringing. She shares memories of her grandparents, particularly her grandfather’s resilience in running fruit stores in Brooklyn amidst challenges like dealing with the “garbage mafia.” These stories serve as foundational inspirations for her entrepreneurial drive.
Quote:
“That entrepreneurial spirit of getting up every morning to run my business, having the agency, is what really resonated with me.” — Jenny Fielding [19:16]
Jenny also discusses the misconception that entrepreneurship requires abandoning stability. She recounts how she managed to launch her ventures while maintaining her role at J.P. Morgan, encouraging others to pursue their passions incrementally alongside their current commitments.
Quote:
“I started my startup while I was working at JP Morgan. I did that nights and weekends.” — Jenny Fielding [21:05]
Advice for Aspiring Entrepreneurs
Jenny advises aspiring entrepreneurs to begin their ventures without necessarily leaving their current jobs. She emphasizes the value of incremental progress, such as dedicating a few hours on weekends to develop ideas, conduct market research, and engage with potential customers. This approach reduces the intimidation factor and allows for gradual growth and learning.
Quote:
“I think you can kind of, in small ways, just start working towards that... when you are ready to make the leap, then you can do that.” — Jenny Fielding [21:05]
Conclusion
Jenny Fielding’s Venture Everywhere offers a comprehensive roadmap for aspiring entrepreneurs, emphasizing the importance of global perspectives, adaptability, and incremental progress. Her personal journey from a traditional career to a global venture capitalist provides valuable insights into the multifaceted nature of modern entrepreneurship. Through her archetypes and global stories, Jenny inspires listeners to embrace boldness, flexibility, and proactive action in their entrepreneurial endeavors.
Closing Quote:
“Thanks for the ride of a lifetime going on, all the adventures with you and thanks for all the support you give to the people who need it most.” — Zibby Owens [22:45]
Final Thoughts
This episode serves as an enlightening exploration of global entrepreneurship, blending personal narrative with professional expertise. Jenny Fielding’s experiences and insights offer a valuable guide for anyone looking to navigate the entrepreneurial landscape with a global mindset and resilient spirit.
Notable Quotes with Timestamps
Listener Takeaways
Listeners gain a deep understanding of the global entrepreneurial ecosystem through Jenny’s experiences and her book. The discussion underscores the significance of cultural awareness, adaptability, and the importance of incremental efforts in pursuing entrepreneurial dreams. Jenny’s narrative encourages aspiring entrepreneurs to embrace their unique paths, leveraging both personal resilience and global insights to drive their ventures forward.