Erik is joined on this episode by Auren Hoffman (@auren), former co-founder and CEO of LiveRamp and Tod Sacerdoti (@tod), former CEO and founder of BrightRoll. They are now working together on a new fund. They talk about how they came to the idea they’re working on, including how to find the right intersection of ideas among those that are interesting to you, that you are uniquely skilled at, that others don’t yet appreciate, and that are worth working on. They explain what data co-ops are and the unique value that they can bring. Auren says he believes that the future is about managing vendors rather than people, and points out that WhatsApp didn’t even build their core messaging functionality themselves in the first place. Erik asks what’s changed in company building since they started their companies in the 2000s and what the next ten years will look like in venture capital. They also talk about why the Valley is flush with cash and whether they are long San Francisco in an era of distributed teams. Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal. Venture Stories is brought to you by Village Global and is hosted by co-founder and partner, Erik Torenberg. Colin Campbell is our audio engineer and the show is produced by Brett Bolkowy.