Howard Morgan | B Capital - On being machine 50 on the ARPANET, the blank check that became Uber, and how to pick great partners

Meet Howard Morgan, Chair and General Partner of B Capital and one of the true pioneers of venture capital. Prior to B Capital, Howard co-founded First Round Capital with Josh Kopelman, served as founding president of Renaissance Technologies with Jim Simons, and was machine 50 on the ARPANET back in 1973. He spent more than a decade as a professor before going full-time into investing, and over the past 50 years, he has backed some of the world's biggest companies, including Uber, Roblox, and Square.In this episode, we go all the way back to the early internet and why he saw email coming before almost anyone, then into building Renaissance and the decision to split venture from quant. Howard tells the story of how First Round started as essentially two full-time people and returned roughly 50x on its second fund, including the blank check that became Uber and the eight-year-old who pitched the team on Roblox.We also get into why he joined B Capital, why he asks for the bad news first, and the best advice he ever received standing in a computer center in 1965.