a16z Podcast - How Global Networks Are Reshaping Startup Success

Episode Date: August 20, 2026

Elena Burger is joined by a16z’s Angela Strange and Gabriel Vasquez to discuss the rise of the "borderless founder": entrepreneurs who bring the networks and insights of their home markets together with the talent, capital, and speed of Silicon Valley to build global companies. Angela and Gabriel trace how a16z's international investing efforts grew from early work in Latin America into a broader global network, and why AI has accelerated the flow of founders and talent between Silicon Valley and startup ecosystems around the world. They explore the advantages borderless founders can bring, from differentiated talent networks and early customers to strong local brands and communities that help open doors across markets. They also discuss how founder diasporas can function like powerful alumni networks, why spending time in Silicon Valley can help founders recalibrate around speed and ambition, and how the next generation of global companies may increasingly be built across multiple countries from day one.   Resources: Read Angela Strange and Gabriel Vasquez's piece on Borderless Founders: https://www.a16z.news/p/rise-of-the-borderless-founder Follow Angela Strange on X: https://x.com/astrange Follow Gabriel Vasquez on X: https://x.com/GEVS94 Follow Elena Burger on X: https://x.com/VirtualElena   Stay Updated:Find a16z on YouTube: YouTubeFind a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Anyone international, whether you're building primarily in your home country to start, but that you have global ambitions, you're a borderless founder. They tend to have a chip on their shoulder. It's the desire that they want to become the benchmark and prove something to the world that regardless of where they were born, they can still achieve greatness. Unlike in the U.S. where you can get everything as a service at every layer of the stack. In many other markets, you just can't do that. There's no fraud as a stack, KYC as a stack.

So you end up having to build everything. There's this interesting dichotomy in this technology is very democratic. It distributes the ability to get it anywhere in the world. It opens up other markets. But then it also concentrates the kind of epicenter of where things are moving the fastest to the Bay Area. Ten years from now, what do you hope to see in the global topology of startups everywhere in the world? I think some of the most interesting companies in Silicon Valley today aren't really from Silicon Valley at all. Their founders may have grown up in Brazil, Sweden, Germany, Poland, or somewhere else entirely.

Their engineering teams may span multiple countries, and increasingly, they're using the networks of their home markets alongside the speed and resources of Silicon Valley to build global companies. In this episode, Elena Berger sits down with Angela Strange and Gabriel Vasquez to unpack what they call the borderless founder and why AI is accelerating the shift. They discuss the hidden advantages global founders can bring in talent, customers, and distribution, the power of founder diasporos, and why the bridge between Silicon Valley and the rest of the world increasingly runs in both directions. Welcome back to the A16Z podcast. Today we're here with Angela Strange and Gabriel Al Fasquez, two of the architects of A16C's global investing strategy. So today on the day that we're publishing this podcast, we're also running a piece on this idea of borderless founders and who borderless founders are. Just to get to our first question, venture historically has been really, really situated in Silicon Valley.

So what makes borderless founders interesting and what is the story of international investing? I remember when very early in my career at A16D I was investing primarily in financial services. or fintech. And one of the first articles I wrote was around just how to get distribution in financial services. It can be very difficult. You need to find a consumer at exactly the right moment in time when they're ready to change from their incumbent services. There's just a lot of inertia. Yeah. And at that same time, my brother had just joined Newbank down in Brazil. And I remember him saying that David had said, yeah, you know, you could compete to be the fifth financial services for every customer in the U.S.

Or you could go to a wide open market with five fat, happy banks that only serve 20% of the population. And yes, it's much more difficult to get things going because you've got to get licensed, you've got to build all the infrastructure, but there's just these wide, wide open markets.

And that is what initially got me interested in looking at Latin America. And the first check I ever wrote at A16D was actually into San Diego Suarez, as the CEO of Adi, which now serves a quarter of the Colombian population for banking and payments. And so that kick-started our international strategy, which initially focused on Latam. And not long after, I remember I got a WhatsApp from Gabriel, who had joined A16D, totally on a different team. And he's like, hey, you haven't met me yet, but I just see this huge opportunity in Latin America.

I've gone and met 25 of the most important CEOs. I've got them all in the WhatsApp group. We should probably do something here. And at the time, Gabriel, were these all fintech founders? Or were they, like, working in every single industry under the sun? Every single industry. But historically in Latam, you see more fintech founders than you see in other regions. But the premise was, you know, at the time that I did the mapping, I paying Angela,

there were only 30 unicorns in Latin America. So the thesis was like, you can put them all in one room and get them to connect because the Brazilian unicorn founders weren't talking to the Colombian unicorn founders or the Mexican unicorn founders. So there was this opportunity to kind of bring them all together. And we ended up doing that.

We created a WhatsApp group with Angela, with Mark Andreessen, Alex Rompel, and a bunch of other people at the firm. And we put them all together. And one of the interesting things is like they were discussing topics about the region, but they also started exchanging deal flow

in the group because they were all prolific angel investors. So that gave us a great opportunity to not only see early deals, but also be able to participate in that community and kind of help them out. And what did early people in this community have? Do you think that a Silicon Valley founder wouldn't have? What kind of insights or what kind of opportunities do you think they had? I think some, and this kind of relates to what we're doing now, some of the best founders there grew up in their home markets, spent some time in the U.S., and then came back. Yeah.

Like I'll use Santi from Adi, for instance, grew up in Columbia, went to Yale, spent some time at a bunch of financial services companies, both large and small in the U.S., and then came back home. Yeah. And so it's a combination of saw the models that worked in the U.S., but then deeply understand their home market. And so then he was able to start Adi. He recruited one of his childhood best friends who was very, very technical. And then the other thing you have to know is, unlike in the U.S., where you can get everything as a service at every layer of the stack, in many other members, markets, including Latin America, you just can't do that. There's no sort of fraud as a stack, KYC is a stack. So you end up having to build everything, which requires a much deeper local

market knowledge, but it's very helpful to be able to borrow from around the world. Yeah. And so it sounds like this finds its origins in a WhatsApp group. And then now suddenly is an entire strategy that you two are really leading at this firm. And I'm curious kind of what was the moment for you where you were like, oh, okay, this needs to sort of evolve past what we're doing right now. It was interesting. We had very active communities across regions, and then really what happened was AI.

And there's this interesting dichotomy in that this technology is very democratic. It distributes the ability to get it anywhere in the world. It opens up other markets. But then it also concentrates the kind of epicenter of where things are moving the fastest to the Bay Area. Yeah. And so then it changed versus

Brazilian founders, Colombian founders, wanting us to come down to Brazil and Columbia and connect, they all wanted to come to the Bay Area and get integrated a lot faster. And when that happens, sort of like, what kinds of problems were they negotiating or challenges or opportunities? You're an international founder. You come to the Bay Area.

Maybe you do have some connections. You know some investors. You know some customers. You know some other founders. But what are the challenges? And also, what are you bringing with you from your home country to the Bay Area and what kind of learnings are you swabbing? I think one of the things that we notice about these groups is that if you are, for example,

from Brazil, you end up mapping the top talent that is in Silicon Valley from Brazil. So we started seeing this trend happening in pretty much in every country. You can extrapolate it to Europe or Asia and it's pretty much the same, which is where are the smartest people from my country because they're going to understand where I come from. So the things that you bring in is less about the local knowledge because now you're

going to go play at the global stage but is the connectivity that you can have with somebody that you don't know and the fact that there in Silicon Valley

Angela and I discuss this a lot which is this culture of giving people help you a lot even before they know you but there's a closer affinity if you're from

that same country because people can see themselves through that journey so that actually ended up leading to us organizing what started as a small

community is borderless dinners and we We called them the borderless dinners because at the beginning was very focused. We tried to focus on the niche, so it was very focused on only Latin Americans at that point in time. So what we did is we mapped out the most successful founders from Latin America. And every time that we had people coming and visit, we will create a dinner for them and it will be like 20, 30 people at this dinners. But they will get to see what the journey of a person from Latin America was in Silicon Valley and that ended up succeeding.

So a big part of this strategy was Guillermo Rouch from Bursal. It's a persona that obviously has succeeded and has done really well in Silicon Valley, but he was very excited to meet people from Latin America and help them out in that journey. We have people from the founder of Brex do this as well, Pedro Franchese. We also had a lot of other founders that came along. But the other interesting thing about this is that that group also has mature now, where people that were early attendees of that group has now graduated in the first. to Unicorn founders and now they're speakers.

So we can get the example of Victor Cardenas from Slash or N.O. Reyes from factory. So he has created this amazing connectivity. Yeah. It's interesting. The very sort of relatable American version of this is if you think of some of the schools, the alumni networks around the top schools

are incredibly powerful. Yeah. I might argue that the international country-specific diasporas are even more powerful. They just often lacked the sort of organization. Yeah. And now lots of these diaspras are also organizing, right?

We're not the only people that help here. But I think what we saw was this opportunity. If you came from a country and you landed in the U.S., you figured out how to get your visa, you figured out where to live, you sort of made yourself into the network, you got your customers. You have this desire to pay it forward. Yeah. But there's not really an easy way to do that in the same way that you can just go back

and speak at your college. Yeah. Right? And so we're like, hey, what if we made an easy way to go back and speak at your college? But your college is all of the smartest kids who graduated from college or dropped out of high school or sort of found their way into these different programs who really want to build global companies. And so the power of that is really exciting when you get in the room. Yeah.

Yeah. No, that makes a ton of sense. I think for someone who's listening to this and they're wondering maybe what is the difference between a borderless founder and an immigrant founder or a borderless founder and somebody who just happens to be an international person who's coming and starting a company in the United States? Like, how do you help them understand, like, how we define or how we understand what a borderless founder is? I like to take the most inclusive view ever, which is just anybody who's trying to build a global company. And so, you know, like Americans technically could be

borderless founders, but they tend to be connected here anyways. And so anyone international, whether you're building primarily in your home country to start, but that you're, have global ambitions, you're a borderless founder. Yeah. And I think that there's something unique about these people as well that like they, you know, not all of them, but they tend to have a chip on their folder. So like they either grew up in a country that was overlooked. So, you know, my story is like I grew up in El Salvador, right? So like a small country, nobody, when you come to the U.S., nobody's like, hey, I met this

other great guy that came from El Salvador. or you're kind of like creating the benchmark on your own. And I think a lot of these people either grew up in, you know, we have back to a German founder that grew up in a really, really small town in Germany. In Germany is obviously well known and everybody has respect for the country. But, you know, the fact that he came from this small town is like, you know, I'm going to make the most out of this opportunity. So like even in the U.S., you know, we have seen people that grew up in, yeah, like small rural areas.

And that's what drives them. And I think it's the desire that they want to become the benchmark and prove something to the world that regardless of where they were born, they can still achieve greatness, right? And I think that that's the mindset that these people have that want to go and create, yeah, dominate globally. Yeah, yeah. When, like, I like what you were saying earlier, Angela,

about sort of how it does function almost like an alumni network in a college or something like that. How do founders sort of find both like the A16Z borderless founder community, but how do they find other communities and kind of how do we find them even? Yeah, I think it's interesting, maybe a little bit. I'll answer your question, but I think that there is an interesting history of countries doing this. And part of the reason I became so passionate about working on this with Gabriel is, I'm from Ottawa, Canada, originally, which is very much not far from Silicon Valley.

But it was also a country where lots of companies were started, but very few got to scale. And so maybe 15 years ago, a group of me and several other Canadians in the Bay Area started this organization called C-100. And what it was was 100 Canadians in the Bay Area who had founded very large companies or who are in influential positions where they could help. And it was creating this forum for them to give back, but by that help Canadian companies scale. And it was really two things.

It was one, helping them find some design partners. And so obviously the startups would have to be good enough to land the contract, but we would open the door. And then two, helping them find executives that would very much help them scale. Because that, I think, is one of the tougher things of getting ecosystems going is you can have very, very smart people. You can land your customers.

but then when you look around for, who's my sales leader that's going to take me from 50 million to 500 million, you probably have to find them in another market until your market gets to be a little bit more mature. And I think with the Canadian network, for say, like now there are lots of unicorns around the globe started by Canadians. Shopify is a big one, but, you know, open evidence.

The founder was Canadian. And so these markets start to go, and it means that those diasporas become easier to break into and easier to find. And so what that brings to kind of our current network, I think those are starting also to get easier to find. Like there are these lighthouse founders that tend to be in those networks. And then they really want to pay it back. The smartest founders are able to kind of network their way into it.

But I also think, and it's just very much credit to Gabriel that makes multiple flights to multiple countries around the globe, just being on the ground to find the next generation. of talent before it's obvious is very key. I actually have a follow-up question there, which is like are there places that sort of are where Canada was 15 years ago now? Or has like AI and just sort of the promise and the allure of Silicon Valley, has that just like made that narrative proliferate a lot faster now? Sort of like, or are there still places where they're really like?

Yeah, I think the maturity of markets is very relevant. relative, you know, for example, some of the markets that we spend the most time is like the UK, Sweden, you know, Israel is very well known for this because historically on a per capita basis these countries have produced a lot. So what we've seen is that AI has enabled that, you know, to grow exponentially in some cases. But there are other countries that, you know, because of the dynamics in that country, you still don't see that. the same flourishing. But this is where we see a lot of this founder actually moving to Silicon Valley. And, you know, it's an interesting tension that you see at times because these local ecosystems that are fruitful and, you know,

creating a lot of companies, people feel very prideful and they're like, we want to make, you know, in the case of Sweden, we want to make Sweden great, right? We want to make the UK like an independent ecosystem. Versus some other ecosystems that might be a little bit earlier, they feel like the best next step for them is, you know, to create an ecosystem

and drive all that motion is going to take a lot of time. And there are a lot of founders, to be fair, that want to dedicate their life to build that ecosystem in their own country. So this is one of the things that Angela and I spend a lot of time, which is like this, you know, sometimes we see this kind of like this father figure in this earlier ecosystems that build a really, really hard business and all these now AI-Native founders go to them first,

and they kind of like this lighthouse, and then they kind of illuminate them about what Silicon Valley is, is and then they kind of direct the path of like, who should they connect. So it really depends on how mature the ecosystem is, but there's definitely a lot of difference per country. I think the really interesting thing that's happening now, so first, I think any ecosystem benefits from their diaspora building amazing companies anywhere in the world. But the interesting thing that's happening now, and we see this with, we're investors

in a company Taco, which does sort of payroll, HR workflows. across Brazil, but their bigger mission is really cutting down bureaucracy in Brazil. And one of their founders was previously the founder of Rappi, teamed up with another founder, Fernando, who is his second company. And they've been able to recruit Brazilians back from the U.S. Who really, like, they grew up in Brazil, they understand these bureaucratic problems. They think now with the right talent, with the right AI, with the right companies, they can really help their country.

And so this talent flow has become really. interesting. Yeah, yeah, that's super cool. I, that actually, I mean, that that sort of leads into the next question, which is, I want to talk about the piece you wrote, and you talk about these three native advantages that borderless founders have. As you said, they have talent and access to talent and these really deep local talent networks and can even call people back from living internationally. They have brand, and then they have a really strong customer base that they can sell into as well. I'd love to hear you sort of talk about maybe brand and customers because we've already touched on talent and what you're seeing from these kinds of founders there.

I think in terms of brand, you know, an example that is in our portfolio is 11 laps. So, you know, this is a company that started out of Europe in the UK, but it has Polish founders. And one of the things that has happened is that for Poland, 11 labs have become such an important name for them to be representatives in, you know, there's a founder that we know that calls this the AI Olympics. So every country wants to have their own candidates winning medals, right? So like for Poland, 11 labs has become that candidate, right? And I think, you know, the Polish government just invested in 11 laps and it's going to do a bunch of initiatives with them. So we see this motion happen quite often you know in Sweden we have seen a lot of happen where the Swedish government has supported a lot

lovable in the Gora and when when this happens it gives you such a jump start in validation with all the large enterprise companies that are part of your of your country and not even your country even countries that are insularity to it because everybody sees the support of the government they're like okay wow that's that's a that's a stamp of validation I want to really work with them So that's on the branding side. Some of the things that are not very obvious when you invest internationally. I think on the other point on customers is, you know, we have had several examples of our companies at very early stages where there are just a design partnership

that eventually converts into a multimillion dollar contract, but they start working with the largest enterprises in companies. You know, we invested in a company called Factor Labs. they started working with the largest conglomerate of all Latin America, which is owned by the Slim family. And, you know, that introduction has led them to other type of workforce that they could tackle so expand within that corporation. And then we also see this kind of playing out from what Angela was describing before.

It's like, okay, if I'm a founder, let's say, born in Spain, like the case of Supersonic, who is the smartest person that went to my university and what are they doing now? And in their case was, you know, who used to be the CRO, Salesforce, and now is the CEO, and they connected with him. And then Salesforce actually became the first design partner

and eventually converted now into a customer. So this advantages are not very obvious. So it might seem actually at times when you haven't studied quite random. But it's all common. connected to the same route. The other way that brand can help is eventually, as I mentioned, these global companies need to recruit global talent.

And so I'll use ID as an example, scaled very quickly. And then, okay, how do you find a credit officer that can do billions of dollars of GMV? The best credit people tend to come from Capital One. How do you attract somebody from Capital One in Virginia to want to work down in Bogota? you become the hottest company in Colombia. So versus joining one of 50 companies that kind of look the same in the U.S., why don't you join the winner that by brand is very clear.

And so I think as you're trying to attract international talent, that can be very interesting. The other element of brand is you can build a little bit to Gabe's point relationships with the government. And so Jeeves has done a lot with the central bank in Brazil. And so they are helping corporations move money internationally via stablecoin, and so they're starting to get that reputation with enterprises

as being sort of the most trusted, compliance, speedy way to do that. And then as a result, they attract more talent and that starts to compound on top of each other. Yeah, this compounding loop, I think, is really interesting. So something we talk a lot about at the firm, I think Mark kind of first introduced this idea is the idea of preferential attachment. So the idea that, you know, if you signal very early

that you can attract the best talent and the best, you know, the best customers, and you really get kind of that attention and that flywheel going, the next incremental person, the next incremental customer becomes that much easier to attract. Do you think that really, really strong borderless founders or international founders, you know,

assuming the company is, you know, strong and sort of their great startup, do you think that they have an easier, time of this in some way or just maybe a more differentiated time of this in some way. I think, you know, in some ways you could argue all of A6CNC was founded to accelerate our founders' preferential attachments. Yeah. And so how do you get that flywheel moving as quickly as possible? And I would argue borderless founders have more levers at their disposal to get that going. Yeah. And so if you start with talent, like this is the fiercest talent market I've seen like

in my career as an investor and also as an operator. They have insight and access to differentiated pools. So we have an insurance, AI insurance company in Brazil. And so you might think, oh, the best talent is at the top most well-known universities there. Actually, for AI talent, it's at a university that you haven't heard of. And then how do you find it? Well, you actually go to the scholarship programs that scour the country for the best students and get them there.

And it's actually these robotics competitions. And so if you were a company that gets 10 incredibly smart people really early, the 11th that you might be trying to recruit from the U.S. that has 100 other offers, meets your team. It's like, holy shit. Like, how do they get people that are that good there? And that starts the talent flywheel. On the customer side, any time you want to land a large customer,

the first question they're going to ask is, who else is using you that's in my industry at my size? And there's lots of opportunities in the U.S. to sell into banks and insurance companies. Nobody wants to be the first bank or the first insurance company. But via borderless founder network, you can get a large bank and a large insurance company in another country much more quickly, and that will very much accelerate your thing in the U.S.

And so I think you just have these levers to make things move faster. And even to a dangerous point, this is like when you're trying to get started in that specific country, but we also see in the cases of really hot companies in Silicon Valley, like Cognition, where their early go-to-market was actually Brazil. And they represent their really high share of their revenue early on because these companies or these enterprises really desire to adopt AI as quickly as possible. And they don't get as many providers to do that. And in the case of cognition, they build a really strong network in Brazil to do that.

Interesting. Interesting. So by that sort of point, does that mean, that, you know, you can also pursue a borderless founder or borderless strategy just by, like, selling into markets that that might not necessarily see kind of. Yes, I think that the best way to think about it is, is like, you know, there's the bridge to Silicon Valley, and then the same bridge can be used on the opposite direction. Yeah, yeah.

And that's the way that we try to position, which is this borderless founders come to Silicon Valley, but they obviously have global ambitions. They might have a strong network if they're from Germany and Germany, but they probably have no knowledge about Brazil or Japan. And those are things that we can be very, very helpful to help them dominate. Yeah, no, it's interestingly. We started this by, you know, connecting diasporas amongst themselves. And now almost the bigger power is the intra-diaspora, right?

Like the German company first design partner in the largest Spanish conglomerate. Yeah. Like, that's amazing, but like something that is not super intuitive that would have happened. Yeah. I think that something is very unique about us and, you know, I feel pretty confidence of what we built here is that there's probably no other investor that can do that for you to cross-pollinate across different ecosystems and different countries and different geographies, basically from the get-go. Yeah. Yeah. At the beginning of the conversation, Gabriel, you mentioned that, you know, your first market map of Latin American unicorns.

was 20 companies or something? 30, 30 companies. Now, when you go about sort of approaching a new geography or a new country, like, how do you even start doing that? Like, what is that process like now? Yeah, so we have this term that we use called local luminaires. So it goes back to what we alluded before, but it's like people that are highly respected in the local ecosystem

that have built companies. The scale of the company and the success of the company doesn't really matter, but it's people that try really hard to make their ecosystem, you know, valid, right? So, like, they, you know, in the case of Sweden, we have a founder that we met, the founders of Boy, which is Frederick Yelm and Adam Jaffer.

And, you know, from looking from the outside, you wouldn't think that, you know, because what they built was like a company very similar to Lyme, which is like a scooter company. You wouldn't have thought that they will be in the middle of the AI boom in Sweden, right? But if you look at all the angel investments that Frederick did, he's pretty much in all the relevant companies that came out of Sweden.

And the reason why is because he's very well-connected with the younger groups of founders, but also with the experienced ones. And he tries to bring them all together and kind of make a case for Sweden on why Sweden should be part of this, going back to the analogy of the AI Olympics. And, you know, you kind of see this persona across every different market that we mapped out. So our first job is how do we understand who these people are? How do we help these people, right?

Because they clearly, there are multiple ways that we can help them. And one of them is just validating their message, right? When you have been, you know, an evangelizer, and then you get some sort of validation from, you know, a firm like us that helps them a lot to kind of prove their point. So they get closer to us. We start working with them, doing events, helping their companies recruit. And that gives us access to the best people that are within their network. And I think the second step is, okay, so once you have map out these people, you kind of map out the equivalent of the rising stars or who are.

this luminaries in Silicon Valley from that country, right? So, you know, one of these rising stars was in Sweden is Gabriel Peterson. So this was a high school dropout from Sweden, came to the US with no education, got a job of mid-jury, then became one of the youngest researchers at Open Eye, and now he started a company. But every time that there's a Swedish founder that wants to move to Silicon Valley, they want to get in touch with him. Right? So like if you build this network where you mapped out when they,

are in Sweden. And then when they move to Sweden, you kind of help them connect with successful people from their country. You're pretty much in the flow. Yeah. Yeah. And, you know, that's how we build each ecosystem. You know, the joke, a lot of people usually tell us that, like, hey, Gabe, you're so well-known in Sweden or in Germany or in Brazil. And I tell the joke that I tell them is like, in every country, I make them feel like it's the only country that I look at, right? Because, you know, We try to derive a very, very local level for these luminaries and this ecosystem. I think the other thing sort of phase three is ecosystems get a little bit more matured. The executives at the sort of rising next set, one of the things that makes it so powerful is that it's really mission driven.

So they saw how hard it was. And so the NC sort of heads of sales, like founding engineers that have a little bit of liquidity that now very much want to pay it forward to that next. generation of founders. And so we have, we've got a global, you know, scout program that we, you know, recruit kind of the best of the, you know, rising stars at the companies to be part of, too, and that helps create the ecosystem. Yeah. And the last part that I'll are to touch this point is that when we find enough density, we actually even do events just for that community. So about a year ago, we did one with Angela and Ben Horowitz, where he was a speaker and we brought the best Nordic founders all to Silicon Valley for a week. And then we host them at our events. So when we see that

density, we try to do very local events to kind of help out those ecosystems. Yeah. Yeah. It's funny. We just actually released a podcast with Will Gaborik from Stripe. And it's funny the parallels between how Stripe works and what you're describing where it's like you start really early with like, you know, individuals or teams like very. small companies and then you kind of grow with them and you begin to offer more and you like grow with those companies as they become large enterprises and you're kind of like there for every single generation or like every single step of the life cycle so there is like it's funny it's it's almost like you you kind of see how these kinds of flywheels especially as they apply to

startups kind of have repeatable motions, regardless of whether it's, you know, a international investing strategy or, you know, a payments platform. It kind of looks very similar when you actually kind of look at what's happening under the hood. 100%. And I think, too, like if you think all of us, we remember the people who helped us when it wasn't obvious. Yeah.

And so I think, you know, in our role, like, you've just got to be really, really, passionate about, you know, meeting people, paying it forward, like generally raising, raising up your ecosystem. And some of those will become great founders that you get to invest in. Others will become broader parts of the ecosystem. But you've got to be there early. I would love to talk about some of the repeat founders who we've identified and kind of like spoken to and built relationships with. And how do you guys think about that? Just because it is, It's something that we've now done a couple of times, so it was so curious. Yeah, so, you know, it was pretty much like the continue to execute on the WhatsApp strategy, funny enough.

But, you know, we, I think these local ecosystems had a wave, a first wave of entrepreneurs that got to some sort of scale that was meaningful, let's say, within the $1 billion to $5 billion range, usually. and but they didn't get to see the all the way through right so there were there were things because it was the first time around because the ecosystem itself was really really hard there was a lot of lessons that they had that they couldn't see and fulfill their vision that gets them going and thinking about okay I'm going to do a next business but this time around I'm going to apply all the knowledge that I have all the network that I build and and go build something even bigger because I know I can right so. So that has been, you know, the way that we identify these people because of their drive to be like, okay, this $5 billion exit or $5 billion outcome wasn't enough for me.

I want to do something greater from my local ecosystem. And the way that we build these relationships is, you know, we track them very, very closely. We help them to come to events. What these people usually want is they want to reactivate their network at times, right? especially in AI, they want to get connected with the smartest engineers at Stanford, right? Like they want to be in the flow of talent, and we give them that bridge to them, right? So, like, we map out these people, we put them in touch, and we kind of help them ideate about their ideas as well. And that came along where, like, we introduced them to customers so that they can have these advanced conversations and kind of validate what they're thinking through.

And then we're very intentional as well when you're. comes to putting it all together for them. So like in the case, I'll give an example. We invest in Frederick Guillaume, he has a new company. When they were, the company name is Pid.com. So when they were coming to Silicon Valley, we put them in touch with the TopXXX from DoorDash, the topic set from Lyft,

the top execs from a bunch of our portfolio companies. And we kind of helped them ideate about the idea. And then after they came back from from that trip, they had a pretty clear vision of what they wanted to do and prosecute, and then they decided to go with us because despite they having pre-existing relationships, because at that point, it's very obvious

that a lot of investors want to invest in them, but by differentiating ourselves on the ideation side, they decided to go with us. Yeah. I think the other opportunity to close the gap, especially for the repeat founders, is they probably don't have a network of the smartest 18, 19, 20,

year olds all in AI. And these are amazing engineers who probably want to be founders, but they might want one job in between. And sometimes these repeat founders are the, like especially the really hungry going in again, they've learned so many lessons. And it is great CEO school to come work for their companies for two, three, four years. And so this kind of collaboration that we get through the networks ends up being very powerful on both sides. If I, if I'm a founder, I'm an early stage, I'm a seed stage founder. What is my experience like as I'm coming into this ecosystem? And how do you sort of grow through with these companies from, you know,

Series A to growth? Yeah. So the first thing that we focus on is visas. This is, this might not sound like a big deal, but it's the most stressful process when it comes to moving to the U.S. It's like, what is the right visa? What do I qualify for? like, you know, who's going to write a recommendation letter for me?

And those are things that we can, we help a lot of founders with. We're actually investors in a visa company, I made a visa company called Extraordinary. And through extraordinary, we partner a lot on helping these founders come to the U.S. to make sure that they have the right qualifications or help them understand what are the things that they need to come to the U.S. as fast as possible. You know, the other thing is that there's a lot of hacker houses that started abroad, but now they have created campuses to use Angela's analogous campuses in the U.S., where, you know, they offer free rooms for people to stay for a short period amount of time.

You know, we sponsored this one called Palo House. So this company, we met them at Slush, which is a big event that happens in, Finland and then you know there was this really four smart students from CDTM which is one of the best programs in Germany and they had this idea of like hey we want to have a house in Palo Alto and we want to bring the smartest people that we know to stay with us in Palo Alto and help them ideate so we decided to to sponsor this house and you know over the over a period of four months and over four months they they crowded the house too much they they receive I believe through dinners and everybody to stay, it was like 1,200 people

that ended up staying there. You know, through that, we actually ended up meeting really exceptional people that we stay in touch with. Nice. They really were like running a small, small college, small liberal arts college. And now they actually, it's funny enough, they want to find a way to keep that a lot independently. But like that, there's so many cases of campuses from different countries. So we kind of help them connect on the way that they say. And then through our borderless communities as well, it's like, hey, you're here for like a couple of weeks.

Why do you come to this dinner and meet all their really smart founders and operators that just went through the similar journey. And I think as the founders start to start their companies, the next step is often they're very technical founders to have an idea that are looking for. which market or which use case should I go after. And one of the things that I think is particularly interesting internationally is there's a lot, like many countries have, you know, several powerful families that control a lot of the enterprises. And the next generation in those families is very, very motivated to become AI-Native. And we've brought them into our borderless founder group.

And so if you want, you know, heads of operations, finances around the world to ideate with, talk about their problems, and they're very willing to talk to the smartest people in our community about what they should build. Yeah. And so that can be a really interesting kind of connection also. Yeah. We have had actual contracts for portfolio companies land from those initiatives. Very cool.

So if, you know, I'm an international founder right now listening to this, I'm thinking about moving to Silicon Valley, what should I know? What should I keep in mind? And also, should I be thinking about just coming for a month or three months? Should I be thinking about moving altogether? Like, what are the kinds of questions that I should be asking myself? I think there's, you know, the answer varies a lot for everyone. But I think one of the things that is very common is definitely common to spend time in Silicon Valley.

And I think this is one of the things that we highly encourage because even if you're going to go back, you go back with a lot of insights and you go back I never met somebody that came to Silicon Valley and was like this was such a waste of time. Everybody goes back excited and it helps them calibrate as well on the level of speed.

I think this is one of the things that Silicon Valley continues to be ahead of every other ecosystem is the level of speed that people operate. And I think just calibrating on the speed is really, really important. And one of the things that I personally would recommend And it's like at the very least three to six months

so you can kind of emerge. Because a couple of weeks can be, I don't think as influential, because you have to go through the death of the network and kind of realize in a couple of weeks. Some people get discouraged because sometimes it's really hard to connect with people. But I find that people that spend time a little bit longer,

they come back with the right connections, even if they decide to go back or finally decide to move here. Yeah. And say lean on your dialysis. Like either via us, we've posted about a lot of the things that we can do. Like, it is way deeper than probably you think in the Bay Area and very much prime to help you build your company.

Ten years from now, what do you hope to see sort of the results of this, not just in A16 and Z in our portfolio companies, but kind of just in the global topology of startups, you know, everywhere, everywhere in the world? I think this trend is just going to continue. We actually ran the stats, and out of our apps, 40% of our investments were in international founders. You know, half of them were based here, half of them were based in other countries.

I think, you know, all nationalities, internationalities mix. And so a more diverse set of minds builds bigger and bigger companies. And I think it is great for consumers, it's great for enterprises. And we are just 1% scratching the surface of what we can do with AI. Totally.

I would second that. And I think that there's the statistics that a lot of people in Silicon Valley before used to frame a lot, which is like 90% of the returns in venture capital come from Silicon Valley companies. I think that if that share goes from 10% all the way to 20 to 30%, that's something that I would like to see because that builds that case. And I think the other thing why that I never really quite like that is the thing. is because it doesn't fully tell the story. There's a lot of these borderless founders,

which is a lot of them are based here, but a lot of the engineering team might be actually back in their home country. And a lot of these advantages were never really told. So there's a lot of these companies that actually are claimed by two different countries. Right. And that story was never actually really told. And you have seen that historically, and I think it's going to continue. But hopefully now from like this perspective of like, yeah, like, you know,

We're this global company that have headquarters and at the very least it's two different countries. Well, Angela Gabriel, thanks so much for joining me today. This was a ton of fun. And when this episode releases, everyone will also be able to read your piece on the subject. So check it out on Substack and the A16Z blog. Thanks for listening to this episode of the A16Z podcast.

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