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S1E26: Urban Solutions to Climate Challenges - Insights from a City-Focused Venture Capitalist
Manage episode 483848547 series 3643626
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From caddying for golfers at age 12 to managing a 1,000-person team at Citi Bike and now co-founding a climate-focused venture capital fund, Laura Fox's career journey exemplifies what's possible when curiosity drives your decisions instead of fear.
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In this captivating conversation, Laura shares how she transformed Citi Bike into a +$100M business while making sustainable transportation accessible to millions, before pivoting to invest in groundbreaking climate solutions for urban environments.
Drawing wisdom from her grandmother's appreciation for life's small wonders, Laura reveals why the "forest path" approach to career building—following your interests rather than a straight line—has allowed her to make both meaningful impact and financial success throughout her journey.
Whether you're considering business school, wondering how to evaluate career pivots, or curious about the climate tech investment landscape, Laura's refreshing perspective on embracing challenges will inspire you to approach your own 90,000 hours with renewed purpose.
Key points:
- Laura Fox is co-founder and managing partner of a venture capital fund focusing on the intersection of cities and climate, targeting early-stage B2B companies in mobility, logistics, buildings, energy, waste, water, and adaptation.
- Her non-linear career path has included working at Morningstar, museums in Qatar, urban strategy in Bangladesh, NYU business school, Boston Consulting Group, Sidewalk Labs (Google subsidiary), and as general manager of Citi Bike at Lyft.
- Laura attributes her success to curiosity and a willingness to embrace challenges rather than following a straight career path.
- Her grandmother was a significant influence, teaching her to appreciate both big-picture thinking and small everyday details, fostering a lifelong beginner's mindset.
- Working as a golf caddy for seven summers taught Laura valuable skills in connecting with people from different backgrounds and learning through asking questions.
- At Citi Bike, Laura grew it from a $30 million to $120+ million revenue business, making it the 20th largest transportation service in the US.
- When evaluating companies to invest in, Laura focuses on businesses solving real problems with significant impact potential, like Ryzm (climate risk mapping for infrastructure) and Public Grid (reducing utility costs for renters).
- Understanding customer pain points is crucial - at Citi Bike, environmental benefits ranked low (#15) compared to immediate benefits like saving time, money, and improving physical/mental health.
- Laura advises that starting a VC fund is best later in career when you have financial buffer and relevant experience to provide value beyond funding.
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