Steve Vassallo, a general partner at Foundation Capital, isn’t your typical venture capitalist. Known for investing at the intersection of design, technology, and business, he embraces the arduous yet rewarding journey of early-stage startups. Vassallo attributes part of his investment philosophy to lessons from his mother, Helen Guillette Vassallo, a beloved business professor.

In a recent chat with Scott McGrew, the Sand Hill Road host, Vassallo opened up about his venture capital journey, his unwavering belief in the importance of respect for entrepreneurs, and why he wholeheartedly dives into investments in their infancy.

Forget about those boring pitch meetings where everyone’s glued to their phone screens. Vassallo has implemented a policy of no tech during pitches, opting instead for the old-school approach of real face time and genuine conversation. By ensuring that everyone is present, he believes he’s respecting the entrepreneurial journey.

Vassallo’s firm notably invests as one of the very first institutional backers for many founders, with about a third of their startups receiving zero previous angel or seed funding. This strategy is about venture math (yes, there’s math behind the glamor and glitz of Silicon Valley): while one-third of investments will fail, the magic lies in owning a substantial chunk of the companies that succeed.

And let’s talk crypto, Vassallo is not just any investor, he’s spearheading crypto investments with a vision for how blockchain can enhance online infrastructures to incentivize creators. Unlike the current state of social media, where users churn out content only to be bombarded with ads in return, he envisions a system that doesn’t leave contributors high and dry.

AI is another realm where Vassallo has dabbled, his enthusiasm not dulled by the tech surge. He sees the potential of AI, recognizing both its rich history and its evolving nature, and compares it to the rapid advancements of the last decade, showcasing how foundational advancements lead to the technology’s exciting modern-day iterations.

Steve Vassallo isn’t here for the flashy headlines; he’s about robust relationships, innovation, and recognizing the seeds of potential before they blossom into billion-dollar empires. He takes a page out of his mother’s playbook, cultivating curiosity, respect, and an unwavering belief in the unpredictable journey of startups, and this ethos seems to be paying off, at least for the entrepreneurs lucky enough to catch his eye.