Navigating Challenges in Distressed Companies with Becki DeGraw | Wilson Sonsini Startup Legal Basics

Todays show: Wilson Sonsini Partner Becki DeGraw joins Jason on the latest edition of Startup Legal Basics! In this episode, they break down challenges in distressed companies(1:04), pay-to-play scenarios (2:31), the importance of a market check in financing (9:25), and high-profile legal and ethical issues (18:03).

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Timestamps:

(00:00) Wilson Sonsini partner Becki DeGraw joins Jason

(1:04) Distressed companies and VCs leaving the board; Challenges in distressed companies

(2:31) Insider-led down rounds and pay-to-play scenarios

(7:07) Legal actions and stockholder lawsuits in successful turnarounds

(9:25) The importance of a market check in financing; Voting against board decisions

(18:03) Character and incentives in the startup ecosystem; High-profile legal and ethical issues

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LinkedIn: https://www.linkedin.com/in/rebecca-degraw-639bbb62

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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This Week in Startups is brought to you by…

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Todays show:

Comma’s Harald Schäfer joins Jason to discuss the future of autonomous driving, Comma’s open-source approach (7:24), how camera-based systems stack up against lidar (20:52), self-driving technology developments globally (32:55), and more!

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Timestamps:

(0:00) Comma’s Harald Schäfer joins Jason

(2:02) Comma's approach to self-driving technology

(4:06) Cost, installation, and car manufacturers' reactions to Comma

(6:38) .Tech Domains - Apply for the Jam Session with JCal contest today at https://jamwithjcal.tech

(7:24) Open source and different approaches in autonomous driving

(13:08) Comparing Waymo, Tesla FSD, and comma AI's strategies

(20:52) Lidar vs. camera-based systems in autonomy and the advantages of camera-based systems over human drivers

(24:05) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist

(24:56) Autonomous vehicle rollout timeline and predictions

(27:33) Open source projects and major car manufacturers' adoption

(31:25) Micro1 - Visit https://www.micro1.ai/twist to open a talent search and get a 2 week free trial per hire.

(32:55) Self-driving technology developments in China

(34:25) Tesla's anticipated announcements and AI integration in robotics

(39:48) Accessing and contributing to open-source self-driving projects

(41:01) Data sharing and transparency in autonomous driving

(43:14) Global adoption and demographics of self-driving technology

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Check out: https://www.comma.ai

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Timestamps:

(0:00) Recall’s Sankari joins Jason

(4:15) Explanation of automatic taxonomy creation and adding content to Recall (8:11) Recall’s augmented browser feature and web content indexing

(10:26) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://www.Squarespace.com/TWIST (14:39) B2B applications, multiplayer mode, and capturing institutional knowledge

(19:15) Lemon.io - Get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist

(20:40) AI costs for summarization and model preferences (22:08) Personalized learning features and Recall pricing strategy (26:10) The concept of luxury software and jamming on potential features (31:00) CommandAI - Visit https://www.command.ai/twist to get a custom live demo.

(32:34) LinkedIn integration and visual knowledge graph representation (35:26) Jason and Sanks play with the quiz section of Recall (40:43) Final thoughts on startup journey and investment opportunities

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(31:00) CommandAI - Visit https://www.command.ai/twist to get a custom live demo.

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Todays show:

Alex Wilhelm joins Jason to discuss OpenAI's latest model and implications (11:49), Uber's partnership with Waymo and its implications (38:16), Analyzing Mr. Beast's content creation and business culture (1:01:21). and more!

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Timestamps:

(0:00) Jason and Alex kick off the show.

(3:57) Highlights from the All-In Summit (9:16) Tackling media criticism and the state of journalism

(10:23) Washington Post - TWiST listeners can subscribe for just 50 cents per week for your first year at https://www.washingtonpost.com/twist

(11:49) Alex and Jason dive into OpenAI's latest model and implications (19:46) Examination of OpenAI's corporate structure and financing

(20:39) AssemblyAI - Get 100 free hours to start building at https://www.assemblyai.com/twist

(21:51) Further analysis of OpenAI's business model (27:08) OpenAI's valuation and perspectives on speculative investment

(30:26) Brex. Get the business account trusted by 1 in 3 US startups at ⁠https://www.brex.com/twist24

(32:07) The landscape of AI startup investments (35:20) How AI is enhancing developer productivity (36:33) AI's potential in consumer markets (38:16) Uber's partnership with Waymo and its implications (41:15) The realities of autonomous vehicle technology deployment (47:00) The government's role in autonomous vehicle tech and partnerships with big tech (52:26) Economic insights: Predictions on the Fed rate cut (56:26) The influence of interest rates on startups and investment strategies (58:52) Discussing cost of living adjustments and food delivery trends (1:00:44) Innovations in autonomous food preparation (1:01:21) Analyzing Mr. Beast's content creation and business culture (1:09:12) How large companies can maintain focus on goals

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Mentioned on the show:

OpenAI o1’s announcement: https://openai.com/index/learning-to-reason-with-llms/

OpenAI release article on The Verve: https://www.theverge.com/2024/9/12/24242439/openai-o1-model-reasoning-strawberry-chatgpt

Supermaven article: https://techcrunch.com/2024/09/16/ai-coding-assistant-supermaven-raises-cash-from-openai-and-perplexity-founders/

Twitter post from Michael Seibel: https://x.com/mwseibel/status/1835063692117103090

Waymo and Uber expand partnership: https://waymo.com/blog/2024/09/waymo-and-uber-expand-partnership/

Polymarket on Fed Interest Rates: https://polymarket.com/event/fed-interest-rates-september-2024?tid=1726496650092

Leaked Mr Beast doc: https://drive.google.com/file/d/11dV24Mda_kNEBCLtPtBomWG4IkngvQKK/view

Travis Kalanick | All-In Summit 2024 video**:** https://www.youtube.com/watch?v=8j7lwauJN2s

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Follow Alex:

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Thank you to our partners:

(10:23) Washington Post - TWiST listeners can subscribe for just 50 cents per week for your first year at https://www.washingtonpost.com/twist

(20:39) AssemblyAI - Get 100 free hours to start building at https://www.assemblyai.com/twist

(30:26) Brex. Get the business account trusted by 1 in 3 US startups at ⁠https://www.brex.com/twist24

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Todays show:

Meghan Reynolds takes the stage at Liquidity Summit 2024 to discuss the intricacies of raising capital and pitching to VCs. Meghan dives into many topics including the importance of relationships (3:07), fund size rationalization (20:36), market sentiment (25:55), and other crucial aspects of successful fundraising!

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Timestamps:

(0:00) Meghan Reynolds takes the stage at Liquidity Summit 2024

(3:07) Meghan Reynolds’ talk “Relationship Advice: Of the LP / GP Sort”

(9:43) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups

(10:59) Client service in investor relations and fundraising strategies

(15:07) The complexity factor in raising capital

(19:19) Runway - Sign up at https://runway.com/twist to get your first 3 months free.

(20:36) Rationalizing fund size, securing re-ups, and worst pitching practices

(25:55) Market sentiment and single deal SPV dynamics

(29:34) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist

(31:02) VC allocations, private credit, and market dynamics

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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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This Week in Startups is brought to you by…

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Timestamps:

(0:00) Jason joins Pejman Nozad and Jason Shuman at the Liquidity Summit 2024.

(3:25) Pejman Nozad’s “How I Built a $100B Portfolio”

(10:42) .Tech Domains. Don’t miss our “Jam with JCal” contest! To apply and get more details go to https://jamwithjcal.tech/

(21:34) Fidelity Private Shares. Visit https://www.fidelityprivateshares.com/ Mention our podcast and receive 20% off your first-year paid subscription.

(23:50) Jason joins Pejman for a fireside chat.

(36:33) Oracle. Save up to 50% on your cloud bill at https://www.oracle.com/twist

(38:02) Jason Shuman’s “The New Power Law: Good vs Great Funds”:

Subscribe to the TWiST newsletter: https://www.ticker.thisweekinstartups.com

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Check out Primary: https://www.primary.vc/

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LinkedIn: https://www.linkedin.com/in/pejman/

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Thank you to our partners:

(10:42) .Tech Domains. Don’t miss our “Jam with JCal” contest! To apply and get more details go to https://jamwithjcal.tech/

(21:34) Fidelity Private Shares. Visit ****https://www.fidelityprivateshares.com/ Mention our podcast and receive 20% off your first-year paid subscription.

(36:33) Oracle. Save up to 50% on your cloud bill at https://www.oracle.com/twist

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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Follow TWiST:

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This Week in Startups is brought to you by…

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Squarespace. Turn your idea into a new website! Go to https://www.Squarespace.com/TWIST for a free trial. When you’re ready to launch, use offer code TWIST to save 10% off your first purchase of a website or domain.

OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at https://www.openphone.com/twist

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Todays show:

Boom Supersonic’s Blake Scholl joins Jason to discuss the future of supersonic flight (1:18), Boom's vision and test flights (9:25), the evolution of hardware startups (22:29), the future of autonomous aviation (1:17:06), and much more!

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Timestamps:

(0:00) Boom Supersonic’s Blake Scholl joins Jason

(1:18) Commercial flight speed & Concorde history

(8:34) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist

(9:25) Boom's XB-1 test flights and airline partnerships

(15:04) Pricing, market comparison, and venture capital's view on hardware startups

(21:16) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://www.Squarespace.com/TWIST

(22:29) Evolution of startup market and hardware innovation

(29:03) Boeing's innovation decline and attracting talent to projects

(36:15) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist

(37:42) Working with tech legends and overcoming engine design challenges

(49:14) Cross-discipline innovation

(57:01) Learning from Air France 447 and cockpit safety design

(1:03:36) Cockpit technologies and the MH370 mystery

(1:11:30) Public perception of aviation risks and airport security impact

(1:17:06) The future of autonomous aviation

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Follow Blake:

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Check out: https://boomsupersonic.com / https://x.com/boomaero

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(36:15) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Substack: https://twistartups.substack.com

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This Week in Startups is brought to you by…

Brave Search API. Get started for free at ⁠https://www.brave.com/jason

CLA. Get started now at ⁠https://www.claconnect.com

Sprig**.** Visit https://sprig.com/twist to book a demo and get a $75 gift card.

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Timestamps:

(0:00) Sara Mauskopf, CEO of Winnie joins Alex

(1:45) Winnie's evolution, pivot, and focus on childcare services (7:25) Building Winnie's database and reflections on company growth

(9:55) Brave Search API. Get started for free at ⁠https://www.brave.com/jason

(12:08) The value of transparency and growth metrics

(19:20) CLA. Get started now at ⁠https://www.claconnect.com/

(21:16) Market positioning, motivations, and goals in the childcare industry (23:30) Addressing gender dynamics and startup funding (27:34) Balancing investor expectations with business models

(29:43) Sprig. Visit https://sprig.com/twist ****to book a demo and get a $75 gift card.

(31:10) Profitability, operational efficiency, and managing costs (37:01) Marketing strategies, brand growth, and the impact of Google’s model (40:30) Adapting to changing childcare demands due to remote work (44:08) Efforts to reduce childcare costs and home-based business challenges (50:06) Balancing profitability with growth and venture capital experiences (54:00) SaaS pricing challenges and the impact of AI (58:22) Tech M&A, FTC regulations, and innovation policies

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Check out: Winnie: https://winnie.com/

Check out 2024 Inc. 5000 list: https://www.inc.com/inc5000/2024

Check out the BLS statistics: https://www.bls.gov/cps/telework.htm#data

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Follow Sara:

X: https://x.com/sm

LinkedIn: https://www.linkedin.com/in/smausk/

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LinkedIn: ⁠https://www.linkedin.com/in/alexwilhelm

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Thank you to our partners:

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(19:20) CLA. Get started now at ⁠https://www.claconnect.com/

(29:43) Sprig. Visit https://sprig.com/twist to book a demo and get a $75 gift card.

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Todays show:

Circle’s Jeremy Allaire joins Alex Wilhelm to discuss the growth of stablecoins (49:06), stablecoin market infrastructure (22:23), their impact on global financial systems (56:07), and more!

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Timestamps:

(0:00) Circle’s Jeremy Allaire joins Alex Wilhelm

(2:08) Jeremy's early career and the evolution of the internet

(5:28) Transition from Macromedia to Circle's founding

(12:10) LinkedIn Jobs - Go to https://www.linkedin.com/twist to post your first job for free.

(13:21) Bitcoin, stablecoins, and Circle's compliance

(20:53) Google Cloud - Get up to $200K in Google Cloud credits – or up to $350K for AI startups – plus training and guidance. Apply at https://startups.google.com/twist

(22:23) The current state and future of stablecoin market infrastructure

(28:07) Integrating stablecoins with traditional finance

(34:12) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist

(35:40) Stablecoins' impact on global financial systems

(41:30) Circle's business model, scalability, and blockchain potential

(49:06) Growth of USDC and other currency stablecoins

(51:10) USDC market cap trends and interest rates

(56:07) Stablecoins in the global financial system and US regulation

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Timestamps:

(0:00) Tony Stubblebine of Medium joins Alex.

(3:10) The broken internet and ad-based models

(5:57) Impact of AI on content creation and platform quality

(10:01) Medium's curation and financial model

(11:18) Notion - Try notion projects for free at https://www.notion.so/twist

(18:23) Medium's growth, geographic expansion, and AI translation

(20:02) Brex - Get the business account trusted by 1 in 3 US startups at ⁠https://www.brex.com/twist24

(22:05) AI-driven media platforms and the impact of AI spam

(29:32) OpenPhone - TWiST listeners can get an extra 20% off any plan for your first 6 months at https://www.openphone.com/twist⁠

(30:59) Medium's subscriber growth and financial milestones

(34:35) AI data exclusivity and challenges in forming training data cohorts

(41:26) Medium's venture scale potential, profitability, and mission

(45:17) CEO's mindset and financial scaling towards 10 million subscribers

(50:41) Tony's personal use of AI in his workflow

(53:24) Future of AI in practical applications and business model disruption

(57:09) Organizing content and the challenge of integrating different formats

(1:02:19) Growth potential of niche markets and Medium's independence

(1:06:23) Jam with JCal! Introduction to Ulan Abdurazakov and CorePod

(1:07:27) Corepod product discussion and go-to-market strategy

(1:17:23) Jason Calacanis's advice on testing and market validation

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LinkedIn: https://www.linkedin.com/in/ulanbek-abdurazakov/

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Thank you to our partners:

(11:18) Notion - Try notion projects for free at notion.com/twist

(20:02) Brex - Get the business account trusted by 1 in 3 US startups at ⁠https://www.brex.com/twist24

(29:32) OpenPhone - TWiST listeners can get an extra 20% off any plan for your first 6 months at https://www.openphone.com/twist⁠

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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Follow TWiST:

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Substack: https://twistartups.substack.com

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