The Full Ratchet: Vc | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private E

Shawn Carolan of Menlo Ventures joins Nick on a special Crisis Coverage installment to discuss the Four Fundamentals of Investing; the Future of Micro Mobility; and Hunting Consumer Unicorns. In this episode, we cover: Tell us about your background and path to venture. What's the thesis at Menlo Ventures? Can you explain the "Four Fundamentals" framework for investing and give us a brief description of each? What are you looking for in terms of unit economics? You like to invest in technologies that change everyday life for the better.  Do you have a sense for the needed technologies and then find founders in those areas, or do you identify compelling entrepreneurs that then guide you to emerging technologies that will shape the future? Have you been in the situation where you identified the right consumer trend and technology required to deliver but you picked the wrong startup? Is there a priority of importance amongst the four? Which do you think investors most often get wrong?  Let's talk about consumer

On this special segment of The Full Ratchet, the following Investors are featured: Patrick Gallagher Sarah Tavel Byron Deeter Jim Kim Each investor discusses sectors, drivers and/or trends that may have significant impact in the future and are potentially positioned for outsized-returns. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Tamara Steffens of M12 joins Nick on a special Crisis Coverage installment to discuss Why Corporate VC Gets a Bad Wrap; Microsoft's Fresh Approach to CVC; and Key Insights to Acquire Mass Users. In this episode, we cover: Background and path to venture. Overview of the thesis at M12. Investments since COVID? Changes in strategy, markets of interest. CVC has the reputation of being very slow, not leading deals, imposing restrictive terms, and thinking only about broader success of their parent company— what's different about M12? What's your approach to sourcing? You are known as a user acquisition expert in the valley... having generated millions of app downloads for Path, Color and Acompli. One of your main suggestions is to "Dismantle the silos" ... what do you mean by that? You've cited the top three things you need to make your app part of the zeitgeist -- can you walk us through each and why they're critical? Talk about the 'Leaky Bucket' of new user acquisition and how to avoid it? What's a good level

Brian Hollins of BLCK VC joins Nick on a special Crisis Coverage installment to discuss Breaking into VC; Excelling at Goldman Sachs; and the Origin of BLCK VC. In this episode, we cover: Background and path to venture? What was the most surprising thing about venture that you only realized after working in it for awhile? So you've got this great job in venture...  Why'd you decide to go back to HBS? Tell us about the origin story of BLCK VC? What are some of the specific activities and programs that BLCK VC is running? On June 4th, BLCK VC held an event, “We Won’t Wait”, for people in venture to take action. What were the primary goals and outcomes of the event? I want to talk a bit about your experience at Goldman... did you have an opportunity to invest in black and/or underrepresented founders? What, if anything, did Goldman do to support black investors and founders? It's so hard breaking into this industry and orders-of-magnitude harder when you're black --  how have diversity issues and racial profili

On this special segment of The Full Ratchet, the following Investors are featured: Minnie Ingersoll Adeyemi Ajao Richard Kerby David Horowitz Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Kane Hsieh of Root Ventures joins Nick on a special Crisis Coverage installment to discuss Investment Decision in < 3 weeks; the Challenges and Opportunities with 3D Printing; and the Future for Industrial Automation. In this episode, we cover: Backstory/Path to Venture Tell us about the the thesis at Root and your focus areas. Any unique outcomes or behaviors you are observing as a result of the pandemic? What's your investment position on 3D printing... bullish or bearish? I used to work in the industrial automation area... developed two different products there and saw limitless opportunities but also many challenges.  From your standpoint, what have been the biggest challenges to progress in industrial automation? What excites you most about industrial automation going forward? How will jobs in the industrial space, or any space for that matter, change with the immersion of automation and robotics? Is this a net job eliminator? Startups w/ hardware as a part of their solution (whether off the shelf or de

James Currier of NFX joins Nick on a special Crisis Coverage installment to discuss Network Effects; 9 Days Until a Funding Decision; Software as the Foundation for the Modern VC firm; and the Future of Social Media. In this episode, we cover: Background and path to venture Thesis: Overview of the thesis and your specific focus at the firm Pandemic: Unique outcomes or behaviors you are observing as a result of the pandemic? Overview of Software: You're a huge inspiration to me...  I love that you're bringing innovation to venture -- building software and tools that help founders and allow them to access more investors. For those in the audience that don't know, can you give a brief over of the major software and tolls that you've built. FAST Program: You launched the FAST Seed Financing Program ($1M, $1.5M or $2M for 15% of their company) which ran April 16-May 22.... were you allowed startups to apply for funding and you committed to responding in 9 days. Why'd you launch the program? What did you learn tha

On this special segment of The Full Ratchet, the following Investors are featured: Leah Solivan Oren Klaff Jason Whitney Darren Bechtel Each investor discusses a portfolio company that did not survive and why it was that they failed. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Ramy Adeeb of 1984 Ventures joins Nick on a special Crisis Coverage installment to discuss Why Facebook Should be Broken Up; SV Hype vs Returns; Amara's Law; and VC's Track Record Predicting Trends. In this episode, we cover: Backstory/Path to Venture Tell us more about what was it like working with Vinod. Is there anything he taught you in specific that was most influential? And how about Pierre? How has the crisis impacted the way you invest as well as your thesis? Have you seen an adjustment, a correction or a slow down amongst the Series B, C and growth stage investors? Any predictions on how long this period will last?  What are some tips for founders when pitching to VC's over zoom?  Quick highlights of your thesis (stage, sectors, geos, check sizes, etc.) You've said that one should "Avoid the hype - whatever is en vogue you should run away from" why should the hot trends be avoided? What's Amara's Law and how does that inform your thesis? Any stats or data on VCs ability to predict the future? Let's

David Rabie of Tovala joins Nick on a special Crisis Coverage installment to discuss Finding PMF, Raising Series B, & Navigating a Startup Amidst the Pandemic. In this episode, we cover: I was just checking and we had you on the show back in March of 2016... that was over 4 years ago, pre-launch, during your Kickstarter campaign.  So crazy how much time has passed.  Can you refresh us on the origin story of Tovala... We've invested in the pre-seed, seed, Series A and now Series B round... and we're fortunate to have a front row seat while  you and the team built an amazing company but bring the audience up-to-speed on the last few years... what have been the key milestones/inflection points? Your revenue was strong, hovering near mid seven figures ARR, until Q3 2019 when it took off at a growth rate like I've never seen... accelerating past $10M ARR and continue a rapid growth rate, even during the crisis.  What changed that caused the ramp? How do you define PMF and when did you know you reached it? Wha

On this special segment of The Full Ratchet, the following Investors are featured: Grace Isford Somesh Dash Steve Blank Mark Suster To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Taranvir Johal & Salman Elmi of Tavolo and Top Figure join Nick to discuss Racism in Venture -- A White, Male VC Threatens Black & Brown Founders. In this episode, we cover: Quick personal backstory and origin story for Tavolo -- Taranvir. Quick personal backstory and origin story for Top Figure -- Salman. So, there was an incident last week in Minneapolis where venture capitalist, Tom Austin (who has since been fired by F2 Group), confronted you in your building's exercise room.  You guys captured a video of the incident and it begins with w/ Mr. Austin pointing his mobile phone camera back and forth at the three members of your team -- as he confronted you. Walk us through what happened before and after the video recording. Very, very reminiscent of the Amy Cooper video from NYC's Central Park -- shocking similarities between your situation and the Cooper situation.  It's nothing short of tragic.  What were you feeling as this was happening to you? What has it been like growing up in a society that

Jim Douglass of Fulcrum Equity Partners joins Nick on a special Crisis Coverage installment to discuss Pandemic Effects on B2B SaaS and Healthcare -- Total $ Invested, Multiples, and the Exit Environment. In this episode, we cover: Background/path to venture. The thesis at Fulcrum. Investments since COVID -- Anything additional you need to see or changes to process to get to investment? B2B SaaS -- impacts to existing contracts and funnel opportunities thus far? Recently, we had Byron Deeter at Bessemer on the show talking about why this is the seminal moment for Cloud and b2b SaaS companies, do you share that excitement with Byron or where do you stand? Previous downturns have had a deeper and longer term effect on growth stage (volume and dollars) then the earliest stages -  what are your predictions for the near term and mid term on growth stage investing? How do you and your partners think that investment multiples will be affected? What about the exit environment...What have you been seeing in the curre

On this special segment of The Full Ratchet, the following Investors are featured: John Vrionis Elizabeth Yin Bobby Franklin Jeremy Neilson Each investor illustrates a critical lesson learned about startup investing and how it's changed their approach. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Melody Koh of Nextview Ventures joins Nick on a special Crisis Coverage installment to discuss Super-Technologies; The Everyday Economy; The Overlooked Working Class; and Fear of Missing Out vs. Fear of Looking Dumb. In this episode, we cover: Background and path to venture Thesis and Focus at NextView Hands-on approach (only 2-3 investments/yr)? You wrote that when it comes to investing in the COVID era -- FOMO (Fear Of Missing Out) is replaced by FOLD (Fear Of Looking Dumb). What are you seeing from other investors? How will this effect 'Seed' as a Stage of investing? How has the crisis effected your approach? Conviction without face to face? Recently heard about NextView’s new virtual Accelerator... congrats on the launch. Can you give us a quick overview of the program? Do you have any predictions on the long-term effects of this crisis on the ‘Everyday Economy’? I saw your tweet about companies shifting the real estate burden to employees as everyone works from home... do you think companies should subs

Jeff Fluhr of Craft Ventures joins Nick on a special Crisis Coverage installment to discuss Launching StubHub During the Dotcom Crash; Why Market Need Trumps Market Timing; Choosing B2B vs. B2C; and Why Founders Shouldn't Let VCs Decide Their Fate In this episode, we cover: Background and path to venture Thesis and focus at Craft So, you incorporated Stubhub in March 2000... just weeks before the dotcom bubble burst. Was there any hesitation or second thoughts as the tech world was collapsing around you? LESSON 1: IT’S ABOUT THE MARKET NEED, NOT THE MARKET TIMING You talk about the difference between market need and market timing. Can you explain what you mean by this point? How did you validate the market need, beyond just the experience of you and others you knew? LESSON 2: BE FLEXIBLE IN YOUR STRATEGY Often founders face this question of choosing B2B vs. B2C... can you talk us through the early days and StubHub and the how the strategy evolved? Do you think if you initially focused on the B2C segment

On this special segment of The Full Ratchet, the following investors are featured: Ryan Gembala Jenny Rooke Jeff Clavier Courtney Reum Each investor discusses sectors, drivers and/or trends that may have significant impact in the future and are potentially positioned for outsized-returns. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Sarah Tavel of Benchmark joins Nick on a special Crisis Coverage installment to discuss Consumer Marketplace Investing; Why Aggregate GMV is a Red Herring; and Minimum Viable Happiness as the Key to Market Leadership. In this episode, we cover: Background and path to venture? Quick overview of the thesis and your focus at Benchmark What are your thoughts on platform VC? What tactics or approaches do you use in the process of “scaling your founder”? You sit on the board of some companies, such as HipCamp, that have been greatly affected by the pandemic -- What are some of the creative responses you've seen from portfolio companies? Is there anything fundamental to Marketplace businesses that you think will shift as a result of the crisis and changes in consumer behavior? In the food delivery space, we recently witnessed DoorDash unseating the larger incumbent: GrubHub, with the greatest market share. DoorDash started after PostMates and years after Grubhub... how'd they do it? Do you currently

Beezer Clarkson of Sapphire Ventures joins Nick on a special Crisis Coverage installment to discuss Platform LP; Allocations in a Down-Market; COVID Strategy Drift; and Emerging Manager Selection. In this episode, we cover: Background and path to Sapphire? Overview of the thesis at Sapphire? You have relationships with many different funds and fund managers, how have you been managing the current situation from the LP side? Down years tend to be very good times to invest, what portion of institutional LPs do you think will view the current situation as an opportunity to deploy versus those that tighten up? Strategy drift of a venture firm can be concerning. COVID has impacted some strategies more adversely than others -- what have you seen as far as shifts in theses and deployment strategies among firms and what's your opinion on GPs changing course due to COVID/SIP? Changing gears a little bit, but I want to talk about OpenLP. What is OpenLP and why'd you launch it? There was a good article recently publis

On this special segment of The Full Ratchet, the following Investors are featured: Alex Osterwalder Scott Kupor Cheryl Cheng Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.