LA Venture: Serial Entrepreneur Spencer Rascoff on the Future of Social Media and His Investing Strategy
Former Zillow executive and serial entrepreneur Spencer Rascoff loves Los Angeles.
So much that he named his venture capital fund, 75 & Sunny, as an ode to L.A.'s yearlong balmy weather. This week, he joins the LA Venture podcast to talk about what helped him grow personally and professionally into one of the most revered investors in Southern California.
"I'm at the stage of my career where I'm trying to be a coach and a mentor and an advisor," said Rascoff.
Rascoff is best known as the former co-founders of successful startups including Zillow and Hotwire. He has since built other companies including the news site you're currently reading (dot.LA) and Pacaso — a platform that helps people co-own a home. Rascoff said he's now looking for new partners to work with to start more companies.
An avid Twitter and Instagram user, Rascoff said he's not pleased with the social media world and the misinformation it has propagated in the last few years.
"The horizontal social networks have become kind of cesspools of humanity, where everyone's yelling and screaming about everything," Rascoff said. "There's all this misinformation. The algorithms are sending us down these black holes."
But he said he sees hope for vertical-specific social networks, and is personally investing in several. Rascoff said 75 & Sunny has made over 42 investments this year across the worlds of proptech, consumer and fintech.
Along the way, Rascoff said he's been fortunate to surround himself with smart and supportive co-workers and friends.
"That's the most important thing is surrounding yourself with people that you learn from, that you are motivated by, that bring out the best in you, that complement your skills. That's everything," he added.
dot.LA Engagement Intern Joshua Letona contributed to this post.
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