Investing in the edges of the ecosystem: Focus on underrepresented voices and overlooked managers to tap into untapped potential and discover the next unicorns. Diversify investments to cover the edges and recognize most won't yield venture-like returns.
To achieve success in venture capital, it's essential to focus on the edges or tails of the ecosystem, where untapped potential and innovative ideas often lie. Screen Door, a fund of funds, is dedicated to supporting underrepresented voices in the industry by investing in overlooked venture managers. By doing so, they aim to increase capital flow to these areas and potentially discover the next unicorns. Research shows that early-stage investing is parallel driven, meaning the edges or tails are where significant returns come from. However, only 2% of startups will become major successes. Therefore, it's crucial for Limited Partners (LPs) to invest in a diverse range of fund managers, ensuring proper coverage of the edges or tails while recognizing that most investments will not yield venture-like returns.
Maximizing potential returns in early-stage investing through diversification and emerging managers: Diversify portfolio, focus on emerging managers for potential high-return investments. Invest in GPs from emerging manager ecosystems for new perspectives, networks, and strategies. Assess GP network, access, and market fit for multiplier effect.
Investing in early-stage ventures requires a diversified portfolio and a focus on emerging managers to maximize potential returns. The vast majority of startups do not provide venture-like returns, but a small percentage of them can yield significant gains. To capture these outliers, it's essential to invest in general partners (GPs) who cover the first institutional check and bring new perspectives, networks, and strategies. These GPs often come from emerging manager ecosystems, as they tend to identify and invest in companies that create new sectors and face legal challenges. Examples of such disruptive companies include Uber, Airbnb, and Coinbase. When building an emerging manager portfolio, it's crucial to assess a GP's network, access, and market fit to ensure their fund's multiplier effect is greater than one.
Leveraging resources and partnerships for a strong investment portfolio: Effective collaboration tools, a good fit with a GP, and strategic portfolio construction are crucial for building a strong investment portfolio. Emerging managers should invest in multiple deals to increase their chances of success.
Building a strong investment portfolio and gaining access to disruptive technologies requires leveraging the right resources, such as Miro's pitch deck template and effective collaboration tools. For venture capital firms, having a good fit with a general partner (GP) is crucial, focusing on GP market fit, long-term vision, competitive advantage, and understanding the transition from investor to fund manager. Portfolio construction is also essential, with strategies ranging from concentrating on a few outlier investments to spreading investments across many deals. For emerging managers with limited track records, it's recommended to invest in as many deals as possible to increase the probability of capturing a winner. Ultimately, your fun size, or the number of deals in a fund, is a key aspect of your strategy.
The long game of seed stage investing: Seed stage investing offers high returns but requires a long investment horizon and smaller fund size. GPs face challenges but potential rewards are substantial with historical CAGR of 28% and multiples over 500x.
Venture capital in the seed stage offers a potentially higher return profile compared to later stages, but it requires a longer investment horizon and a smaller fund size. GPs (General Partners) face the challenge of staying grounded in seed stage investing due to the delayed realization of carry and the lack of management fees associated with larger funds. This can make it difficult for GPs to resist the temptation of quicker returns offered by later stage investments. However, for those who can commit to the long-term compounding game, the potential rewards can be substantial, with historical data showing a compounded annual growth rate (CAGR) of around 28% for venture capital over the past 25 years, leading to multiples of over 500x compared to the 14% return profile of late stage venture or private equity. Ultimately, the decision to focus on seed stage investing requires a commitment to the long game and a clear vision for building an enduring firm.
Focusing on the right type of companies and LP relationships: GPs need discipline, focus, and value-add to succeed in seed stage investment market. LPs invest in new perspectives and strategies.
Making it in the seed stage investment market requires discipline and a clear focus on the right type of companies. GPs (General Partners) need to be prepared for pressure from larger LPs (Limited Partners) to grow their funds, but must remain committed to their strategy and average check sizes. GPs also need to demonstrate their value add and expertise to potential LPs. Productivity and efficiency are key, and tools like HubSpot's AI Content Writer can help streamline the content creation process. The market is competitive, with many first-time managers struggling to raise a second fund, so it's important for LPs to invest in those bringing new perspectives and strategies.
Expanding investment strategy to overlooked emerging managers: Screen Door Ventures broadens its focus to include diverse managers with unique perspectives, networks, and ideas, increasing potential for discovering high-margin businesses and untapped potential, leading to significant returns for LPs.
Screen Door Ventures expands its investment strategy beyond a DEI focus to finding and backing overlooked emerging managers with unique perspectives, networks, and ideas, regardless of their background or demographics. This approach allows the firm to tap into untapped potential and discover potential "diamonds in the rough," which could lead to significant returns for their Limited Partners. The importance of considering high-margin businesses in the investment portfolio is also emphasized, as it can help break the virtuous cycle and bring more capital to the edges of the ecosystem. The discussion also highlights the importance of being open-minded and not limiting oneself to a narrow mandate, as one might miss out on groundbreaking companies that create new sectors and areas of the market.
Importance of GP and LP roles in building a successful investment portfolio: GPs should identify sectors and opportunities aligning with expertise and potential for growth, while LPs aim to build a comprehensive portfolio covering various sectors including emerging ones. Both parties must work together to create a balanced and effective investment strategy.
For building a successful and diversified investment portfolio, both GPs and LPs have important roles to play. GPs should leverage their networks to identify sectors and opportunities that align with their expertise and potential for growth. LPs, on the other hand, should aim to build a comprehensive portfolio that covers various sectors, including emerging ones. The success stories of companies like Coinbase or Tesla highlight the importance of staying open to new sectors and technologies that may not have been prominent earlier. Additionally, the discussion around carry and fees underscores the importance of GPs demonstrating their ability to generate strong returns before demanding high fees or carry. Ultimately, both parties must work together to create a balanced and effective investment strategy.
Looking beyond short-term records and management fees in VC funds: Investors should focus on relationships, portfolio construction, and being a significant LP to maximize returns in VC funds, which can take 7-9 years to reach peak performance.
When considering investment in venture capital funds, it's essential to look beyond short-term track records and management fees, as it can take 7-9 years for a fund to reach its peak performance. Additionally, investors should aim to be a significant LP, ideally minimum 10% of the fund size, to act as a catalyst and help build the LP base. Relationships and understanding portfolio construction are crucial aspects of successful underwriting. Red flags include capitalizing on fleeting trends and a transactional approach. GPs who focus on relationships and construct well-diversified portfolios are more likely to deliver consistent high returns over the long term.
Clear investment strategy and focus on ownership percentage: A clear investment strategy and aiming for 10-15% ownership in winners can lead to greater success in early-stage venture capital. Experimenting with allocating 50% of the fund to top investments could potentially increase chances of being in a winning investment.
Having a clear investment strategy and focusing on ownership percentage can lead to greater success in early-stage venture capital. The speaker shared his experience of investing in four companies, three of which became unicorns, but they didn't maximize their ownership percentage due to a lack of process. Now, they aim for 10-15% ownership in their winners and have a defined strategy for doubling down on likely winners. The speaker also discussed an experimental strategy of allocating 50% of the fund to the top 5% of investments, which could potentially increase the chances of being in a winning investment. While this strategy may be seen as aggressive, the speaker believes it's worth watching as it could potentially lead to higher returns. Ultimately, the importance of ownership percentage and a clear investment strategy cannot be overstated in the world of venture capital.
Making tough decisions as a VC: Successful VCs face the challenge of passing on potential deals and sticking to their strategy to avoid negative impact on fund's performance. Founders should understand it's not a negative signal to not follow on.
Being a successful venture capitalist involves making tough decisions and living with the consequences. GPs face the terror of passing on potential game-changing deals and wondering if they made the right choice. It's essential to have a clear strategy and communicate it to founders to avoid making "feel good" follow-on investments that could negatively impact the fund's performance. Founders should know that not following on with an investment is not a negative signal, but rather a part of the GP's strategy. For those interested in being part of a fund of funds, GPs on Screen Door can be contacted through the GP submission form on the website. The goal is to be collaborative and educate the community on both sides.
Optimizing fund structure, GP market fit, & more with Screendoor’s Jamie Rhode | Episode 1917
Recent Episodes from This Week in Startups
How Pie's 'Block Ads, Get Paid' Model Is Giving Users Control of Ads & Privacy | E2012
This Week in Startups is brought to you by…
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
LinkedIn Jobs. A business is only as strong as its people, and every hire matters. Go to https://www.linkedin.com/twist to post your first job for free. Terms and conditions apply.a
Beehiiv. Power your newsletters with AI tools, referral programs, and ad network features—all in one platform. Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
*
Todays show:
Pie.org’s Ryan Hudson joins Jason to discuss consumer behavior (5:57), Honey’s business strategy (10:47), Pie’s consumer ad control (14:20), legal considerations of ad blocking (27:21), and more!
*
Timestamps:
(0:00) Pie.org’s Ryan Hudson joins Jason
(2:30) History and initial reactions to Honey
(5:57) Consumer behavior, trust, and conversion rates
(9:17) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist
(10:43) Merchant reactions and Honey's business strategy
(14:20) Future of Pie and consumer ad control
(17:50) Demo of Pie browser extension
(20:35) Economic implications of ad blocking
(27:23) LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist
(28:34) Legal considerations of ad blocking
(30:20) Apple's privacy stance and ad reintroduction strategies
(36:22) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
(37:50) Funding decisions and advice for young founders
(43:40) Company values and political engagement
(49:08) Remote work and the value of in-person interactions
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Follow Ryan:
LinkedIn: https://www.linkedin.com/in/ryanhudson
Check out: https://www.pie.org
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Thank you to our partners:
(9:17) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist
(27:23) LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist
(36:22) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
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).
*
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
*
Check Out Wilson Sonsini: https://www.wsgr.com
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Follow Becki:
LinkedIn: https://www.linkedin.com/in/rebecca-degraw-639bbb62
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
No hype, Just works: How Comma reached 100M miles in autonomous driving
This Week in Startups is brought to you by…
.Tech Domains - Don’t miss our “Jam with JCal” contest! To apply and get more details go to https://jamwithjcal.tech brought to you by .tech domains.
Vanta. Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. TWiST listeners can get $1,000 off for a limited time at https://www.vanta.com/twist
Micro1. Micro1 is an AI recruitment engine to hire world class engineers fast. Visit https://www.micro1.ai/twist to open a talent search and get a 2 week free trial per hire.
*
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!
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Follow Harald:
LinkedIn: https://www.linkedin.com/in/harald-schäfer-567830132
Check out: https://www.comma.ai
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Thank you to our partners:
(6:38) .Tech Domains - Apply for the Jam Session with JCal contest today at https://jamwithjcal.tech
(24:05) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist
(31:25) Micro1 - Visit https://www.micro1.ai/twist to open a talent search and get a 2 week free trial per hire.
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Summarize Anything & Discover Connections with Recall’s Sankari Nair | E2010
This Week in Startups is brought to you by…
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.
Lemon.io - Hire pre-vetted remote developers, get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist
CommandAI. Seamlessly integrate an AI-powered guide into your software, making navigation intuitive and interactive. Visit https://www.command.ai/twist to get a custom live demo.
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/
Check out the TWIST500: twist500.com
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
Founders! Apply to LAUNCH: https://www.launch.co/apply
*
Check out Recall: https://www.getrecall.ai/
*
Follow Sankari and Recall:
X: X: https://x.com/getRecallAI
LinkedIn: https://www.linkedin.com/in/sankari-nair-13a549a7
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Thank you to our partners:
(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
(19:15) Lemon.io - Get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist
(31:00) CommandAI - Visit https://www.command.ai/twist to get a custom live demo.
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
OpenAI's new models, the MrBeast leak, Waymo ♥’s Uber and more! | E2009
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!
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/
Check out the TWIST500: twist500.com
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
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
*
Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
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
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Relationship Advice of the Investor Sort with Meghan Reynolds of Altimeter | E2008
This Week in Startups is brought to you by…
LinkedIn Ads. To redeem a $100 LinkedIn ad credit and launch your first campaign, go to https://www.linkedin.com/thisweekinstartups
Runway. Looking to up-level your financial planning Runway is the modern and intuitive way to model, plan, and align your business for everyone on your team. Sign up at https://www.Runway.com/TWIST to get your first 3 months free.
Beehiiv. Power your newsletters with AI tools, referral programs, and ad network features—all in one platform. Get 30 days free and 20% off your first 3 months at https://www.Beehiiv.com/TWIST
*
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!
*
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
*
Subscribe to the TWiST newsletter: https://www.ticker.thisweekinstartups.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Check out Altimeter: https://www.altimeter.com
*
Follow Meghan X: https://x.com/MeghanKReynolds
LinkedIn: https://www.linkedin.com/in/meghankreynolds
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Thank you to our partners:
(9:43) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups
(19:19) Runway - Sign up at https://runway.com/twist to get your first 3 months free.
(29:34) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
*
Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Substack: https://twistartups.substack.com
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
*
Subscribe to the Founder University Podcast: https://www.founder.university/podcast
The New Power Law & How I Built a $100B Portfolio | E2007
This Week in Startups is brought to you by…
.Tech Domains. Don’t miss our “Jam with JCal” contest! To apply and get more details go to jamwithjcal.tech brought to you by .tech domains.
Fidelity Private Shares. Manage your cap table and data room, get faster, more accurate 409A valuation and fully automate your next financing round. Visit https://www.fidelityprivateshares.com/ Mention our podcast and receive 20% off your first-year paid subscription.
Oracle. Oracle Cloud Infrastructure, or OCI, is a single platform for your infrastructure, database, application development, and AI needs. Save up to 50% on your cloud bill at https://www.oracle.com/twist
*
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
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Check out Pear: https://pear.vc/
Check out Primary: https://www.primary.vc/
*
Follow Pejman Nozad: X: https://x.com/pejmannozad
LinkedIn: https://www.linkedin.com/in/pejman/
*
Follow Jason Shuman:
LinkedIn: https://www.linkedin.com/in/jasonshuman/
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
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
*
Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Substack: https://twistartups.substack.com
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
*
Subscribe to the Founder University Podcast: https://www.founder.university/podcast
Boom: Supersonic speeds for everyday travel with Blake Scholl | E2006
This Week in Startups is brought to you by…
Vanta. Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. TWiST listeners can get $1,000 off for a limited time at https://www.vanta.com/twist
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
*
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!
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Follow Blake:
LinkedIn: https://www.linkedin.com/in/blakescholl
Check out: https://boomsupersonic.com / https://x.com/boomaero
*
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
*
Thank you to our partners:
(8:34) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist
(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
(36:15) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Scaling Childcare with Tech: Winnie.com’s Blueprint for Growing with Purpose & Profit | E2005
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.
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/
Check out the TWIST500: twist500.com
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
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
*
Follow Sara:
LinkedIn: https://www.linkedin.com/in/smausk/
*
Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm
*
Thank you to our partners:
(9:55) Brave Search API. Get started for free at https://www.brave.com/jason
(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.
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
The Rise of Stablecoins with Circle’s Jeremy Allaire | E2004
This Week in Startups is brought to you by…
LinkedIn Jobs. A business is only as strong as its people, and every hire matters. Go to https://www.linkedin.com/twist to post your first job for free. Terms and conditions apply.
Google Cloud. Accelerate your startup journey with the Google for Startups Cloud Program. 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
Beehiiv. Power your newsletters with AI tools, referral programs, and ad network features—all in one platform. Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
*
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!
*
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
*
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
*
Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
*
Follow Jeremy:
LinkedIn: https://www.linkedin.com/in/jeremyallaire
Check out: https://www.circle.com
*
Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm
*
Thank you to our partners:
(12:10) LinkedIn Jobs - Go to https://www.linkedin.com/twist to post your first job for free.
(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
(34:12) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
*
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
*
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
*
Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
*
Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Related Episodes
Episode 11: The Art and Science of Manager Selection
Ryan is currently a Founding Managing Partner and CIO at Carbonado Partners, a leading placement agent with a differentiated approach to fundraising for emerging managers. Prior to his current position, Ryan was a Founder and Managing Partner at Pacenote Capital, Head of Investments at Children’s Health System of Texas, and Investment Officer, Interim CIO at the Meadows Foundation. He started his career as an Equity Research Analyst on Wall Street with Smith Barney, BT Alex Brown, and Credit Suisse First Boston, before establishing his own trading company located on the 83rd floor of World Trade Center One. After surviving 9/11, he relocated to Dallas.
Ryan graduated from Yale University, with a Bachelor of Arts degree in Economics. He earned the CFA designation, Financial Risk Manager, Chartered Alternative Investment Analyst, and Chartered Market Technician. Thus, he has a lot of letters after his name. He has been honored many times for his work and leadership, including the Portfolio Construction Award and Healthcare System of the Year award, both by Institutional Investor.
Ryan currently serves as a director on the board of Blue Dolphin Energy, Board Member for the Texas Alternative Investment Association, Bridgeway Capital Management, STREAM Foundation, Portfolios with Purpose, Dallas CFA Society, and is an Angel for the Texas Wall Street Women. In addition, Ryan is a Strategic Advisor for Investment Office Resources and serves on the Investment Committee for Texas Employee Retirement System, American Heart Association, Dallas Police and Fire, and Parkland Hospital.
Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services.
Episode 2010
“I was trying to ask for help. You were trying to ask for help. We came to find out, that wasn’t specific enough.”
Trina + Alfonso openly share the conflicts & challenges they've run into while working on writing a book together. Get a preview of content from the upcoming book, Hiring Revolution: A Step by Step Guide to Disrupt Racism + Sexism in the Workplace.Trina + Alfonso also talk about how their identities show up, inform, and sometimes get in the way of their working together.
Ms. Pat
Polygamer #124: Cyndi Wiley, Iowa State University’s Digital Accessibility Lead
Cyndi Wiley is the Digital Accessibility Lead for Iowa State University’s Digital Accessibility Lab. Equipped with everything from screenreaders to Xbox consoles, the Lab helps students and faculty create, advocate for, and consume media that is accessible to users of all different abilities. In this interview, Cyndi and I chat about how disability is a […]
The post Polygamer #124: Cyndi Wiley, Iowa State University’s Digital Accessibility Lead first appeared on Polygamer - A Podcast of Equality & Diversity in Gaming & Video Games.185: Kathryn Valentine - How to Negotiate Effectively
Kathryn is the Founder of Worthmore Strategies, a consulting firm focused on achieving gender parity in the workplace by empowering women to ask for what they need to thrive in their careers. She joins us to share:
- How to manage gender bias in negotiation
- Why negotiation is beyond compensation
- Proven academic research to support effective negotiation
Connect with Kathryn at worthmorenegotiations.com and Julie at Nextpivotpoint.com