9/12/2023 0 Comments Lightspeed ventures founder![]() ![]() WNBA openers this year saw a 21% spike in attendance, with some teams including the LA Sparks reporting triple-digit ticket sales growth, about 121% over 2022’s total. In 2022, the first 32 games of the NCAA tournament had record attendance levels, breaking records set back in 2004, and largely driven by the new and rapidly growing women’s NCAA tournament. “They should be the ones that are determining the direction the business is going in.”ĭot.LA editorial intern Kristin Snyder contributed to this post.Ĭlick the link above to hear the full episode, and subscribe to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts. “At the end of the day, it is a founder’s business, right? is their baby,” he said. While founders focus on crafting their startup’s direction, he said a good partner or board member encourages their vision without being overly authoritative. “If you can nail that psychological piece, I think that's what's going to allow you to build a really sticky community.”įatemi sees a parallel between his parents encouraging him to follow his own path and how he works with his portfolio companies. “What are folks looking to get out of it from a psychological perspective?” he asked. Understanding what people do and why they do it, he said, can help platforms build audiences. That led his team to pivot to creating sports highlights rather than longer-form content.įatemi credits his large Iranian family and-in particular-his mother, a psychologist, for influencing his approach to social media companies. Similarly, his time overseeing corporate development at taught him to focus on the psychology of the young users they were trying to serve. Viral momentum has its benefits, he said, but understanding what drives engagement can help social platforms find long-term success. “So platforms will likely serve as a centralized store of content, and it'll start to build up social currency credibility with an emphasis on digital identity as you're contributing to this community.”įatemi’s experience working at Clubhouse, a social app focused on audio, gave him insight into the importance of building a community and how to evaluate success. “I truly believe that the next generation of social platforms will have some elements of community ownership that reward things like engagement and development and contribution, frankly, to the platform,” he said. In terms of consumer social, he sees several trends developing simultaneously, from livestream shopping to influencer commerce, peer-to-peer marketplaces and group buying, where consumers organize to reach the best deal on a product.įatemi said he’s particularly interested in social networks’ ability to cultivate a passionate community and a sense of authenticity for their users. Fatemi said he looks at what differentiates companies from their potential competitors when assessing investments. Lightspeed invests from seed to pre-IPO, but Fatemi’s early-stage consumer team focuses on seed through Series B. ![]()
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