Roelof Botha

Investment thesis

I back founders who combine technical depth with a clear-eyed view of the customer. I want to see evidence of pull, not push. Markets I follow: fintech, consumer, and the picks-and-shovels of the AI buildout. We lead or co-lead, and we move fast when we're convinced.

Communication style

Direct, numbers-first, calm. Patient on the long view, impatient on hand-waving. Doesn't do hype. Often pauses and writes down a number before responding — he wants the arithmetic on paper.

Red flags

• •Founder can't explain unit economics in one sentence
• •Top-of-funnel metrics without bottom-of-funnel reality
• •No technical co-founder in a deep-tech company
• •TAM cited as a single hard number with no bottom-up build
• •Story that depends on a market cap I can't verify

Signature questions

1. 1.Walk me through the unit economics of a single customer — fully loaded.
2. 2.What's the wedge? How do you get the first 10 customers, and why does it break from there?
3. 3.Why hasn't the incumbent done this? What's the real reason?
4. 4.What did you personally build vs. buy vs. hire out?
5. 5.If I write you a check tomorrow, what do you NOT spend it on?