Billionaire Tech Investor Uses Hot Tub Endurance Test To Pick Winners, Because Science

Get in the tub, nerd. Kalanick's been in there for weeks!
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Chris Sacca is a billionaire tech investor with a deep fondness for cowboy apparel and a love for Twitter that borders on the romantic.

Sacca is also the founder of Lowercase Capital, a Silicon Valley fund that has gotten in early on massive success stories like Twitter, Stripe and Uber. But even a guy with hit after startup hit can be a little freaked out by the apparent tech bubble inflating right in front of our eyes.

Chris Sacca, an investor in companies including Twitter Inc. and Uber Technologies Inc., said too much money is flowing to technology startups that will fail in a coming industry slowdown.

Yikes.

“Bad deals are being done,” he said in an interview with Emily Chang broadcast Thursday on Bloomberg Television’s Studio 1.0. “It’s kind of inevitable that the funds right now that are putting a lot of this money to work here aren’t going to see it all back.”

But if Sacca is genuinely concerned, why is he still out there writing checks to muttering Millennials in hoodies with ideas like "disrupting brunch?"

Because Chris Sacca is f*cking bulletproof.

Sacca, an early investor in Twitter, has his own brand of due diligence in order to avoid bad deals, he said. He invites entrepreneurs to his home in Truckee, California, near Lake Tahoe, and sees how they act over a series of home-cooked meals, hikes, ski trips and hot tubbing.

You see, while the Andreessens and Thiels are happy to take their chances in a boardroom, Sacca wants to see what money-hungry nerds will do in the wilds of California.

Sacca wants to see if the guy behind an "Airbnb, but for ferrets" has even the most basic of houseguest skills.

He wants to see how long it will take them to use their inhalers while careening through foliage.

All to gain insight on how well they will navigate the crazy habitat of the tech biz.

But if you really want to get cash from Chris Sacca, then you better be ready for an epic "tub sesh."

Travis Kalanick, chief executive officer of Uber, the San Francisco-based car-booking service, had better manners -- and impressed Sacca in other ways.
“Travis can spend eight to 10 hours in a hot tub,” Sacca said. “I’ve never seen a human with that kind of staying power in a hot tub.”

So, take note fledgling tech billionaire, it's that kind of disregard for your own reproductive health that gets Chris Sacca to participate in your $11 million Series A round.

Uber Investor Chris Sacca Predicts Technology Industry Decline [Bloomberg]

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