LA Venture Podcast: Petra Griffith of Wedbush Ventures
One of my new favorite L.A. investors is Petra Griffith, who joins to discuss Wedbush Ventures on this week's episode of L.A. Venture. Griffith founded Wedbush Ventures in May of 2020. It's an early-stage venture fund that invests in seed and pre-seed stage companies.
- Griffith's work at Grandpoint Bank made her realize that traditional banks have a really hard time with venture debt because venture debt doesn't look at cash flow or regular metrics. Instead, venture debt looks at who's backing the company and is interested in the ability of the company to raise money in the future.
- While working on Netflix's first product team, Griffith learned that consumers needed to both trust the platform brand and feel emotionally connected to the show — quickly — if they were to become fans.
- Griffith says she initially felt foolish speaking up about what she thought, but learning how to do so turned out to be a game changer because admitting what she wanted out loud, allowed people to open doors for her.
" ...going from from Yahoo to the bank and then from the bank to Netflix [...] I remember the first week being, like drinking from the fire hose." — Petra Griffith
"I always try to think about, 'how do you create a culture that's transparent, that's about problem solving, that is not afraid to raise issues and not afraid to probe'." — Petra Griffith
"I think the willingness to pay for content will hit a wall soon. And so I think about other ways in which people are really finding value...And I think it's around community. I think it's around being proud of being in a community and being proud of what the community stands for." — Petra Griffith
- LA Venture Podcast: A Conversation With Alex Gurevich of Javelin ... ›
- Good Growth Capital's Z Holly on Biotech and Education - dot.LA ›
Subscribe to our newsletter to catch every headline.
ViacomCBS unveiled plans for its new Paramount Plus streaming service Wednesday, revealing a competitive price point and sharing hours' worth of details about the company's strategy to transition into the streaming era while maintaining a foothold in traditional TV and movies. The company also said it will honor a shortened time period for movies to show exclusively in theaters before they appear on Paramount Plus.
The new streamer's debut got off to an inauspicious start Wednesday when a virtual presentation to investors was unexpectedly delayed by a half hour, yielding some ridicule from the Twittersphere.
"The inability to stream an event focused on your streaming pivot...is uh...woof," tweeted media analyst Matthew Ball, summarizing the general sentiment among bemused investors and reporters.
David Dobrik's app Dispo may be on its way to photo-sharing app fame. The company closed a $20 million Series A round led by Boston-based Spark Capital, Axios reported Wednesday. The company's CEO Daniel Liss declined to comment and Spark Capital could not be reached.
- David Dobrik's Dispo App Intros Retro Camera Waiting Periods - dot ... ›
- Dispo Camera App Likely to Be Valued at $100M or More - dot.LA ›
On this episode of the Behind Her Empire podcast, hear from Jordan Salcito, an award-winning sommelier and founder of RAMONA, an organic wine spritzer made with high-quality ingredients and standards.
Jordan began her career in New York as a hostess before becoming a prep cook, sommelier, manager and eventually the wine and drink director at David Chang's Momofuku restaurants.