{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Skin in the Game VC Podcast","title":"Pre-Seed Playbook: Eric Bahn on Investing in Grit Over Pedigree","html":"","width":"100%","height":180,"duration":2343,"description":"In this episode of the Skin in the Game podcast, Saxon Baum sits down with Eric Bahn, co-founder of Hustle Fund, to explore the art and science of investing in pre-seed startups. Eric shares his personal journey from growing up as the son of Korean immigrants in Detroit, Michigan, to becoming a media founder and early-stage investor in Silicon Valley. His story highlights the value of persistence, humility, and learning from failure, a mindset he believes is critical for both founders and investors.Eric emphasizes that great founders “look like anyone and come from anywhere.” While Silicon Valley has historically dominated the venture ecosystem, he notes that secondary and tertiary markets are now producing founders just as capable, thanks to the democratization of knowledge via the internet. Eric also points out a subtle but important distinction: founders from Silicon Valley often carry a relentless “grow fast, break things” mentality that accelerates execution, yet this mindset is increasingly being adopted across the country.Hustle Fund takes a unique approach to investing, prioritizing hustle and execution over pedigree. Eric shares stories of candidates and founders who defied traditional expectations, one high school dropout who became a 100x operator, and a Princeton-educated engineer who couldn’t deliver. For Eric and his team, pre-seed investing is akin to hiring: it’s about identifying grit, determination, and the ability to learn quickly. Hustle Fund typically writes initial checks of $150,000 and pairs founders with growth projects and mentors to test their capabilities. About 20% of these teams receive a follow-up investment of $200,000. This model allows Hustle Fund to support hundreds of founders while remaining valuation-conscious.Eric also highlights the influence of founders’ backgrounds, particularly in the service industry. Experiences as bartenders, waitstaff, or customer service agents cultivate resilience, emotional intelligence, and sales...","thumbnail_url":"https://img.transistorcdn.com/zkSS0qttApj2pwP9AAYl36NCLBFb_wNbCWkv53I67cg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85MmIw/YjQyMTMwMDg2YjVi/OGRmYjIwZWNlNjhj/NDc4Yy5qcGVn.webp","thumbnail_width":300,"thumbnail_height":300}