Podcasts about Bessemer

Send us a textMiguel Armaza interviews Eynat Guez, CEO and Founder of Papaya Global. She has built an HR and payroll platform that has transformed how companies manage and operate global teams across 180 countries. After having faced over 1,000 rejections from VCs, Papaya has now grown to process $34 billion in payments annually and they've raised significant funding from Insight Partners, Bessemer, Greenoaks Capital, and more.We discuss why brutal honesty and direct leadership creates stronger companies, how founders need to learn "investor language" to sell the company vision rather than the product, the operational complexity of building global from day one across 160 countries, and how being a mother of three shaped her approach to building a hypergrowth company. Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary? Check out the Fintech Leaders newsletter and join 80,000+ readers and listeners worldwide!Miguel Armaza is Co-Founder and General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIp

Markets braced for a massive after-hours earnings slate, including Salesforce, Nvidia, C3.ai, Synopsys, and Pure Storage. Nvidia dominated the agenda: analysis from Moor Insights & Strategy's Patrick Moorhead and CFRA's Angelo Zino while Byron Deeter of Bessemer discusses what Nvidia's print means for the broader AI and semis trade. Paul Hickey of Bespoke gives a read on sentiment as yields ticked higher. Jefferies' Brent Thill weighs in on CRM. 

Brian Neider, Managing Partner at Lead Edge Capital, joins BluWave CEO Sean Mooney to break down what great private equity investing really looks like — from systematic sourcing to building one of the most engaged LP networks in the industry. This episode is packed with real-world lessons from 20 years of disciplined execution and growth equity innovation. Episode Highlights: [1:09] Brian's early lessons in entrepreneurship from running a vending business to building top-of-funnel strategy at Bessemer [6:09] How 20,000 cold calls built the foundation for Lead Edge Capital's thesis-driven sourcing [17:06] The 8-point “strike zone” framework Lead Edge uses to evaluate private equity opportunities [27:06] How Lead Edge's LP network drives differentiated value creation and portfolio company support [34:30] The role of instrumentation and data discipline in unlocking portfolio performance [39:57] Advice to early-career professionals: treat your time, relationships, and decisions like investments [45:25] Life hacks from an investor: walking pads, airline points intel, and email follow-up tools For more information on Lead Edge Capital, go to: https://www.leadedge.com For more information on Brian Neider, go to: https://www.linkedin.com/in/brian-neider-7774041/ For more information on the Karma School of Business podcast, go to: https://www.bluwave.net/podcasts  

Episode 710: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk about how to evaluate risk and upside of new ideas.  — Show Notes: (0:00) Bessemer's $140B misjudgment of Shopify (5:47) Shaan's Anti-portfolio (15:26) Goal: Avoid Ruin (21:30) Outlier personalities (24:51) Underestimating Uber (32:16) "You can't overinvest in AI" — Links: • Want Sam's Playbook to Uncover Business Opportunities? Get it here: https://clickhubspot.com/bzo • “How to miss by a mile” - https://tinyurl.com/2rxubfwa  • Leaked OpenAI emails - https://www.techemails.com/p/elon-musk-and-openai  — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

"If you never lived in a beloved community, you'll never know what it's all about." In this powerful and personal episode of Detroit is Different, Coach Kellogg known on the ballot as Kevin Jones—steps into the studio not just as a lifelong Eastsider but as a griot of the neighborhood he loves and serves. From growing up on St. Aubin and Leland to organizing one of Detroit's largest neighborhood cookouts and now running for City Council in District 5, Kevin drops gems like, "We are not just restoring homes, we are restoring hope." This conversation covers everything from his family's Great Migration story out of Bessemer, Alabama, to the transformative power of youth basketball leagues, and the resilience it took to turn incarceration into community planning. As he says, "My nonprofit was born behind prison walls, but its mission was born from love." If you've ever questioned what real grassroots leadership looks like in Detroit, this is the blueprint. Tune in for a dialogue packed with purpose, Eastside pride, and the kind of truth that makes you lean in and listen harder. Detroit is Different is a podcast hosted by Khary Frazier covering people adding to the culture of an American Classic city. Visit www.detroitisdifferent.com to hear, see and experience more of what makes Detroit different. Follow, like, share, and subscribe to the Podcast on iTunes, Google Play, and Sticher. Comment, suggest and connect with the podcast by emailing info@detroitisdifferent.com

In this month's Digital Health Download, Steve and Halle unpack the headlines shaping healthcare, policy, and technology—with an eye toward where things may be heading next. From shifting political support for Medicaid and the ACA to state-level action on PBMs, they explore the unexpected ways the system is evolving.We cover:

Rish Gupta is the cofounder and CEO of Spot AI, a video AI platform for the physical world. They've raised $93M from amazing investors such as Scale, Bessemer, and Qualcomm Ventures.Rish's favorite book: Atlas Shrugged (Author: Ayn Rand)(00:01) Introduction(00:32) Video-AI basics: ingesting camera feeds across diverse networks ​(02:42) Edge-vs-cloud trade-offs for compute, storage, and bandwidth ​(05:40) Mapping the sector: hardware waves to cloud cameras to pure-software layer ​(07:43) Founding insight: why Spot AI attacked the video layer now ​(11:35) Bare-bones MVP: two-page dashboard that unified camera access ​(15:34) First-10-customer lessons & pruning the ideal customer profile (ICP) ​(18:54) Go-to-market experiments: ICP variants, pain points, and channels ​(23:00) Early-team blueprint: engineering-heavy, founders run sales ​(24:03) Hardware stance: free IP cameras to simplify one-vendor buying ​(26:01) Biggest tech hurdle: supporting thousands of camera brands & configs ​(27:00) Sales challenge: outbound fatigue forces novel GTM motions ​(28:55) Future vision: each camera becomes an autonomous AI agent with a "job" ​(30:25) Key AI unlock: massive context windows enabling flow-state reasoning ​(32:14) Rapid-fire round--------Where to find Rish Gupta: LinkedIn: https://www.linkedin.com/in/profilerish/--------Where to find Prateek Joshi: Newsletter: https://prateekjoshi.substack.com Website: https://prateekj.com LinkedIn: https://www.linkedin.com/in/prateek-joshi-91047b19 X: https://x.com/prateekvjoshi 

On tonight's show, I'll have Kathy Stokes, Director of Fraud Prevention Programs, AARP Fraud Watch Network. Kathy Stokes leads AARP's efforts in helping members and other consumers protect themselves and their families from scams and fraud and she will be sharing her expertise. In the second segment, Van Sykes with Bob Sykes Bar B Q to share about the Bob Sykes BBQ & Blues Festival coming up on April 26th in Bessemer, Alabama.

Author Teke Wiggin discusses the article, "Weaponizing the Workplace: How Algorithmic Management Shaped Amazon's Antiunion Campaign in Bessemer, Alabama" published in Socius: Sociological Research for a Dynamic World.

A packed market panel as Bespoke's Paul Hickey, Hightower's Stephanie Link, and Moor Insights' Patrick Moorhead join to break down earnings from Salesforce, eBay, Paramount, Snowflake, Synopsys, and AI player C3.ai. The panel sticks around for the big one: Nvidia. We have you covered from every angle. We also hear from Jefferies' Brent Thill on Salesforce & Snowflake, CFRA's Angelo Zino on Nvidia, and Bessemer's Byron Deeter on AI's broader impact.

Barron's Senior Managing Editor Lauren R. Rublin and Deputy Editor Ben Levisohn talk with Holly McDonald, CIO of Bessemer Trust, about market moves, industries, stocks, and investment trends.

On this week's podcast episode, Steve Kraus and Sofia Guerra of Bessemer Venture Partners joined us to discuss the trends and predictions outlined in their second annual State of Health Tech report.  Key takeaways include: AI: Health tech dollars invested in AI-focused companies have increased 1.5x in just two years, reaching 38% in 2024 to date. Private market recovery: Mega rounds of $50M+ for later-stage companies with strong fundamentals, alongside a surge of seed and Series A companies scaling to $1M-$10M ARR within three years. 2025 predictions: Adoption of in-house services-as-software, AI enhancing doctors' capabilities, AI streamlining value-based care, and more companies blending cutting-edge technology with deep healthcare expertise. About Steve Kraus: Steve Kraus is a partner at Bessemer in the Cambridge office and a world-renowned healthcare investor. He is the author of Bessemer's 10 Laws of Healthcare, Benchmarks for Growing Health Tech Businesses, and co-host of the podcast Heart of Healthcare. Kraus currently sits on the boards of Bright Health Group, Headspace Health, Groups, Qventus, AspenRx, HouseRx, Oshi Health, Folx Health, Mural Health, and Alcresta. About Sofia Guerra: Sofia Guerra is a vice president at Bessemer Venture Partners, where she invests in seed to growth healthcare and life sciences companies. She is the co-author of State of Health Tech report, Benchmarks for Growing Health Tech Business, and How to Scale Health Tech Businesses to $100M and Beyond, a study of 100+ best-in-class companies to understand key metrics relevant for scalability in healthcare software and tech-enabled services. Listen in for the complete chat with Steve Kraus and Sofia Guerra and learn about the key trends shaping the future of health tech. Are you ready to tell YOUR story? Members of our Health Moonshot Communities are leading startups with breakthrough technology-driven solutions for the world's biggest health challenges. Exposure in StartUp Health Media to our global audience of investors and partners – including our podcast, newsletters, magazine, and YouTube channel – is a benefit of our Health Moonshot Community Showcase Membership. To schedule a call and see if you qualify to join and increase brand awareness through our multi-media storytelling efforts, submit our three-minute application. If you're mission-driven, collaborative, and ready to contribute as much as you gain, you might be the perfect fit. Learn more and apply today. Want more content like this? Sign up for StartUp Health Insider™ to get funding insights, news, and special updates delivered to your inbox.

מה הדרך הנכונה עבור יזמים ליצור קשר עם קרנות הון סיכון? מה המטרה המרכזית בפגישה ראשונה עם משקיעים? מהן הטעויות הגדולות שאפשר לעשות בפגישה כזו? אדם פישר הוא שותף בקרן בסמר, אחת הקרנות הגדולות והוותיקות בארה"ב ובישראל. במהלך יותר מ-20 שנות קריירה בקרנות הון סיכון אדם הפך לאחד ממשקיעי ה-Early stage הבולטים, כשברקורד שלנו ישנן השקעות ביותר מ-60 חברות כמו Wix, Fiverr, Habana ו-Melio ו-24 אקזיטים. בשיחה עם דריה ורטהיים אדם מדבר על הנקודות החשובות בפגישה ראשונה של יזמים עם קרנות הון סיכון, איך יוצרים קשר ומה הטעויות הנפוצות שיזמים עושים. אדם משתף בתובנות על התנהלות נכונה בפגישות, על היכולת להעביר את הסיפור נכון וגם איך להתנהל לאחר הפגישה כדי להגדיל את סיכויי ההצלחה לפגישה נוספת. --- מוזמנים להצטרף אל קבוצת הפייסבוק שלנו ולהמשיך את השיח - www.facebook.com/groups/startupforstartup/ ניתן למצוא את כל הפרקים ותכנים נוספים באתר שלנו - https://www.startupforstartup.com/See omnystudio.com/listener for privacy information.

The owner of Fresh Value Supermarkets shares his savviest tips and tricks for grocery shopping!  Episode At A Glance: This week on The SavvyCast, Gerry D'Alessandro joins me to share his best tips for grocery shopping. Gerry is the owner of Fresh Value Supermakerts and he is able to provide invaluable insight into savvy shopping! Everyone who steps foot in a grocery store knows that prices are increasingly high, so being a smart and savvy shopper has never been more important! In this episode, we cover tips and tricks for scoring deals, how to find the best quality produce ansd more. I hope this episode is as helpful for you as it was for me!  Who Is Gerry D'Alessandro? Born and raised in Birmingham, AL, Gerry D'Alessandro was immersed in the world of retail, working at his family's grocery store in Bessemer. From an early age, he wasn't just watching the business from the sideline; he was in the thick of it, bagging groceries. By age 25, his entrepreneurial spirit, honed by years of firsthand experience, propelled him to take a significant step: he purchased the family store. Within a decade, Gerry's vision translated into tangible growth. The single store in Bessemer morphed into a chain of 16 retail locations across Alabama and Mississippi.    Outside of his business life, Gerry D'Alessandro is more than just an entrepreneur. He's a dedicated husband, having been married to Mikayla D'Alessandro for 9 years. Their shared passion for exploring new horizons has taken them on numerous travels across the world, creating memories that they cherish. Questions Answered In This Episode: How did you get involved in grocery stores? Can I shop for my family without breaking the bank? What insider tips do you have for scoring the best produce?  What tips do you have for saving money on groceries?  Resources Mentioned In This Episode:  Fresh Value Supermarkets    I hope you enjoyed this episode! As always, if you have time to rate, review, and subscribe to The SavvyCast on Apple Podcasts, it would be so appreciated. If you would prefer to watch the podcast interview, check it out on YouTube. Blessings to you!   If you enjoyed this episode, check out the ones below:   Detoxing and Energizing your Body with Infrared Light Therapy Practical Points from Casey Means' Viral Tucker Carlson Interview

Snowflake shares had their best day after reporting strong earnings. CEO Sridhar Ramaswamy on how the company is winning in the current environment. Bessemer Venture's Byron Deeter weighs in on the resumption of the software trade and what's next for Nvidia. Plus, Intuit CEO Sasan Goodarzi on the latest quarter and what the Department of Government Efficiency means for the company's business.

Justin sold his first bootstrapped startup for over $10M. He raised $2M out of the gate for his second and then grew from $250K to $3M ARR in one year. He raised $40M in total, including a Series B from Bessemer. And yet, just a week before recording the episode, he shared a post on LinkedIn about a recent panic attack that left him frozen for 15 minutes. It turns out, the sheer pressure of running a startup gets to him-- like it does to most founders-- and shows up in the forms of panic attacks. Fortunately, he's getting better, but like all of us, mental health is something he has to grapple with, despite all the success he's had.We discuss mental health in startups, what it takes to be successful, the difference between bootstrapping and the VC-backed route, and how he grew his startup from nothing to 8 figures in just 4 years.Why you should listen- Mental health issues among founders are common but rarely discussed.- Startup life often requires sacrificing work-life balance for success.- How seemingly simple problems can lead to tremendous value and growth.- Why starting a startup isn't for everyone.Keywordsstartup stress, mental health, entrepreneurship, product-market fit, venture capital, startup journey, growth, leadership, team dynamicsTimestamps(00:00:00) Intro(00:01:07) The Stress of Being a Startup Founder(00:05:42) The Responsibility for your Workers as a Founder(00:07:27) Work Life Balance Can't Exist(00:15:39) The Origin of Aiwyn(00:20:30) The First Product(00:27:46) The Main ROI and Business Model of Aiwyn(00:30:52) Starting During the Pandemic(00:32:14) The Seed Round & Growth(00:37:01) Series A(00:41:41) Reputation Matters(00:43:42) Finding True Product Market Fit(00:44:13) One Piece of AdviceSend me a message to let me know what you think!

In this weeks episode:  Directionally right: where the SaaS market is going- lower prices even if you survive.  AI voice agents map by Bessemer.  Decidr.ai  AI parallel world https://youtu.be/MiPXWf_8BUs   AI Chat Bot https://youtu.be/zRT86TKMaKA  AI CRM automation https://youtu.be/ta2hGRlmtm0  AI natural language search: https://youtu.be/yHDhgw9AEAw   Scalare completes ASX listing. Trump wins: what founders can learn from Trump.    Fintech non-bank lender Bridgit has secured a $250 million facility with Citi.  Equitise falls into administration. Hivery falls into administration. Figuring out what to build is the most valuable thing.   Rocket pads Gilmour Space and Southern Launch get ready for lift off. Sharts   ​​​​​​​hello@tribeglobal.vc

Keep up with healthcare news in under an hour with our monthly Digital Health Download! We can't believe it's already November. In this episode, we cover the biggest headlines of October:

Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.Today I'm excited to speak with the founding team of Chemistry, a new venture firm led by Kristina Shen, Ethan Kurzweil, and Mark Goldberg, who recently spun-out of blue chip firms Andreessen Horowitz, Bessemer, and Index Ventures, respectively. The firm just announced a significantly oversubscribed $350MM debut fund. As a new entrant to the market (in the toughest time to start a new firm in over a decade), I wanted to ask them about their blueprint for building a firm, including how they chose to partner up and the work they did beforehand, LP strategies and selection, and what they felt was their unique reason to exist in a highly competitive market. About Kristina ShenKristina Shen is Co-Founder and Managing Partner at Chemistry Ventures, overseeing a $350M fund focused on early-stage software investments. Formerly a General Partner at Andreessen Horowitz (2019-2024), she led significant investments in Mux, Pave, Wrapbook, and Rutter. Kristina specialized in high-growth startups.She began her venture career as a Partner at Bessemer Venture Partners (2013-2019), working with companies such as Gainsight, Instructure, and ServiceTitan. Previously, she worked in investment banking at Goldman Sachs and Credit Suisse, focusing on technology sectors.About Mark GoldbergMark Goldberg is Co-Founder and Managing Partner at Chemistry Ventures since, investing in seed and Series A software startups. Previously, a Partner at Index Ventures (2015-2023), he worked with companies such as Plaid, Pilot, Intercom, and Motive, establishing a strong fintech and software portfolio.Prior to Index, Mark worked at Dropbox in Business Strategy & Operations and Strategic Finance (2013-2015), where he contributed to growth strategies during Dropbox's scaling phase.He started his career as an Analyst at Morgan Stanley (2007-2010) before joining Hudson Clean Energy as a Senior Associate. Mark holds an AB in International Relations from Brown University.About Ethan KurzweilEthan Kurzweil is Co-Founder and Managing Partner at Chemistry Ventures, leading investments at the seed stage for tech-driven startups. He also serves as a board member for companies like Intercom and LaunchDarkly.Previously, Ethan was a Partner at Bessemer Venture Partners (2008-2024), where he worked with companies such as HashiCorp, Twilio, and Twitch. His focus on software and digital platforms spanned roles as board member and investor, contributing to significant IPOs and acquisitions.Early in his career, Ethan worked in business development at Linden Lab (creators of Second Life) and served as a Senior Manager in the CEO's Office at Dow Jones. He holds an MBA from Harvard Business School and an AB in Economics from Stanford University.In this episode, we discuss:* (01:43): Importance of Team Chemistry and Partnership Formation* (03:27): Challenges of Building a Firm in the Current Environment* (08:00): Unique Value Proposition for Early-Stage Founders* (10:18): Early-Stage Focus and Differentiation from Large VC Firms* (16:12): Fundraising Insights and LP Relationship Building* (19:00): Choosing Aligned LPs and Targeting Long-Term Partnerships* (27:23): Single-Trigger Investment Decision-Making Model* (30:12): Balancing Conviction with Collaborative Feedback* (35:23): Independent Decision-Making for Follow-On Investments* (39:19): Personal Contrarian Beliefs about the Venture Industry* (42:18): Closing Remarks on Building a New Venture FranchiseI'd love to know what you took away from this conversation with Kristina, Mark, and Ethan. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com

Send us a textMiguel Armaza interviews Benjamin Fernandes, CEO & Founder of NALA, a global, cross-border payments company that helps customers send money in and out of Africa.Founded in 2018, NALA today is profitable and has raised over $50 million from Accel, Acrew, Amplo, Bessemer, DST, and NYCA.We discuss:Why NALA built their own infrastructure and stopped relying on local African incumbentsChallenges of going through a company pivot from local to cross-border paymentsThe important role that VCs can have on founders, positively and negativelyHow Benjamin's background as a TV host led him to payments… and a lot more!Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary? Check out the Fintech Leaders newsletter and join ~70,000+ readers and listeners worldwide!Miguel Armaza is Co-Founder and General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIp

Daniel Khachab is the co-founder and CEO of Choco. Today, Choco's AI platform facilitates half of all food traded in major cities like New York, Paris, London, and Berlin, cutting food waste and streamlining distribution. Since its founding in 2018, Choco has raised $330 million from Bessemer, Coatue (its first European investment), and Insight, reaching unicorn status within 2.5 years. Previously, Daniel was the youngest Managing Director at Rocket Internet, where he oversaw growth across Latin America, Southeast Asia, Australia, and the Middle East.                                     From Seed to $1BN in 30 Months: 1. We Killed a $BN SaaS Business to be AI First: Why does Daniel believe that SaaS is dead? What does an AI-first company mean?  Why does Daniel believe AI-first companies will win the next 10 years? What foundation models does Daniel and Choco use today? How has the cost of using different models changed? What categories are vulnerable to being attacked with vertical products from the foundation model providers? 2. Europe is F*******: Why and What To Do: Why does Daniel believe Europe is at a massive disadvantage in the next 10 years of AI? Chips: What can Europe do to encourage chip production and manufacturing to take place on European soil? Energy: What can European governments do to encourage energy providers and new forms of renewable energy to innovate to provide the energy AI needs? Talent: Why does Daniel believe AI talent is the hardest problem that Europe faces? What can governments in EU do to resolve this problem? 3. Lessons Scaling to $1BN in 30 Months: Does Daniel regret raising at a $1.1BN valuation?  Why did he throw a unicorn party with the round? Why does he regret it so much? What did Daniel spend money on that he wish he had not spent money on? What did Daniel not spend money on that with the benefit of hindsight, they should have spent money on? When your competition raises a lot of funding, does that mean you should also?  

Eoghan McCabe is the Co-Founder and CEO @ Intercom, one of the largest private software companies in the valley with hundreds of millions in revenue and thousands of customers. To date, Eoghan has raised over $238M from Index, Kleiner Perkins, ICONIQ, GV, Bessemer and more incredible firms. Intercom's goal is to reinvent customer service with AI agents replacing human agents over the next 10 years. 10 Questions with One of the Largest Private Company CEO's: AI Investing: Why will most AI investments not do better than the S&P 500? Building SaaS Tools with AI: Why is it crazy for companies to follow Klarna and use AI to build their own tools? Going Public: Why is Bill Gurley wrong that more later stage companies should go public? Why did Intercom shelve plans to go public in 2022? Early-Stage is F*******: Why is the early-stage venture ecosystem as an asset class f******? Founder Mode: Why does Eoghan believe all of the best founders are unbalanced? What is the difference between Founder vs Manager mode?  Political Voice: Why did Eoghan decide he had to voice his political opinions now? The Danger of Harris: Why does Eoghan believe a Harris administration would rob the US of immense freedom, democracy and civil liberty? Why Vote Trump: Why does Eoghan believe that Trump will regain immense freedom for the sovereign individual? Freedom of Speech: How does Eoghan determine right vs wrong when freedom of speech leads to harm and injustice?  Middle East and Nuclear War: Why does Eoghan believe that nuclear war is much closer than we think? Will we see the Middle East descend into war?   

SaaStr 764: State of the Cloud 2024: The Cloud AI Era with Bessemer Venture Partners, Anthropic, Jasper, Abridge and EvenUp Bessemer Venture Partners is committing $1 billion in capital to back AI-native companies and founders at the bleeding edge. Sameer Dholakia, Partner at Bessemer Venture Partners speaks with Julia Chapin, COO at Abridge, Kate Jensen, Head of Revenue at Anthropic, Rami Karabibar, CEO and founder at EvenUp, and Timothy Young, CEO at Jasper, on the impacts of AI on the State of the Cloud.  The discussion delves into the integration of AI into SaaS, marketing, healthcare, and legal industries, with a focus on the challenges and opportunities of implementing AI solutions. Key topics include building defensible business models, embracing multimodal capabilities, and strategizing change management for successful AI adoption. Gain valuable insights into the importance of trust, partnerships, and user-centric applications in leveraging AI for sustainable business growth. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code jason50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------  This episode is sponsored by: remote.com When the right person for the job is a world away, Remote Talent brings the world to you. As the top job board for remote-first companies, we give you powerful tools to post your listings and reach the world's top candidates and remote professionals. Start building your dream team from anywhere—visit Remote.com/jobs today. --------------------------------------------------------------------------------------------  This episode is sponsored by: Anrok A question for SaaS finance leaders, do you know where your customers are? Anrok tracks where your sales are creating exposure, and automates tax calculation and filing worldwide. Built for high-growth software companies, Anrok protects your revenue and saves you time. Visit anrok.com/saastr to learn more.

914: The shift towards cloud computing has accelerated with the rise of artificial intelligence (AI), and venture capital firms like Bessemer Venture Partners have taken notice. In this episode of Technovation, host Peter High interviews Mary D'Onofrio, partner at Bessemer, who leads investments in cloud software and emerging technologies. Mary discusses her journey into venture capital, Bessemer's Cloud Index, and the State of the Cloud reports, while highlighting how AI is transforming the cloud landscape. She also shares insights into the "five Cs of cloud finance" and the importance of customer feedback in shaping investment decisions. 

914: The shift towards cloud computing has accelerated with the rise of artificial intelligence (AI), and venture capital firms like Bessemer Venture Partners have taken notice. In this episode of Technovation, host Peter High interviews Mary D'Onofrio, partner at Bessemer, who leads investments in cloud software and emerging technologies. Mary discusses her journey into venture capital, Bessemer's Cloud Index, and the State of the Cloud reports, while highlighting how AI is transforming the cloud landscape. She also shares insights into the "five Cs of cloud finance" and the importance of customer feedback in shaping investment decisions. 

In this episode,  Kent Hance interviews Vicki Hollub, the pioneering CEO of Occidental Petroleum. Vicki shares her inspiring journey from Bessemer, Alabama, to leading a major oil company. She discusses her parents' influence, her initial interest in music, and her eventual shift to mineral engineering. Vicki recounts her diverse professional experiences, including international assignments in Russia, Venezuela, and Ecuador, and her pivotal role in the Permian Basin's shale development. The conversation highlights themes of perseverance, leadership, and the importance of mentorship, offering valuable insights into her career and the energy industry.

Birmingham Barons win Southern League title…”Three Things You Need to Know”…texts…gulf storm…breaking news from Bessemer…security for Trump…Coca-Cola dropping a flavorSee omnystudio.com/listener for privacy information.

Ultimate Tailgaters BBQ Pitmaster Chris Fulmer discusses the Southern BBQ Network 2024 Cook Team of the Year championship – an award he's won four of the past five years. Find out about his competition success, his barbecue journey, and his plans for the Bessemer City Brew & Que Competition on Sept. 21. Find out about some of Chris Fulmer's favorite tailgating adventures and hear some of his story from working as official caterer for University of South Carolina football and baseball teams. Bessemer City Brew and Que event organizer Jo-D Franklin gives the details on the Carolina fall festival that combines barbecue, beer, and other vendors in Bessemer City's Centennial Park.Visit the Low & Slow Barbecue Show website here!This episode is sponsored by the Southern BBQ Network. To find out more about the SBBQN, visit their website here!Since 2010, the Southern Barbecue Network has sanctioned barbecue tournaments to further their goal of Preserving a Southern Tradition by providing well-trained judges to contests that are raising money for charitable causes in the Carolinas.In addition to supporting charitable barbecue competitions, the Southern Barbecue Network also donates annually to numerous local community organizations, hospitals, and nonprofits. To find out more about the Southern Barbecue Network competition program and barbecue judge training classes, please visit SBBQN.com for more information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bessemer Venture Partners recently released their 9th annual Cloud 100 Report. Dave "CAC" Kellogg and Ray "Growth" Rike dive deep into the impact of AI companies on the top 100 private cloud companies which increased their aggregate enterprise value to $820B and increased their growth rate to 70%!Key highlights Dave and Ray discuss include:Aggregate enterprise value of the Cloud 100 increased 25% year over yearAverage growth rate increased from 55% in 2023 to 70% in 202497% of the Cloud 100 will be over $100M ARR by the end of the yearTop 10 companies in the Cloud 100 represent ~ 30% of the total Enterprise ValueAi companies represent the top category of the Cloud 100 EV (21% of total)EV:Revenue multiples are down YoY (23x) but still at very attractive levelsAs a follow-on to the BVP "State of the Cloud 2024 Report" the Cloud 100 highlights the era of AI has moved from hype to reality as measured by growth rates and enterprise value!If you are interested in the latest "CLOUD" industry trends as measured by company value, revenue growth rates and industry impact this episode is a must listen!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bethany Ayers is a seasoned Chief Operating Officer and co-host of The Operations Room podcast. With extensive experience in building successful go-to-market strategies, she has been instrumental in raising over $200 million from top investors like Softbank and Bessemer. Bethany has served as COO at leading companies such as Peak AI, NewVoiceMedia, and Codility. Currently, she also lends her expertise to the boards of AI companies ToffeeAM and DeepOpinion.SHOW SUMMARYIn this insightful episode of the Selling from the Heart podcast, Larry Levine and Darrell Amy are joined by tech executive Bethany Ayers to explore the power of combining authentic relationship-building with a disciplined sales process. Bethany shares her transformation from a quota-carrying sales professional to an operations leader, highlighting the critical balance between empathy and process in driving sales success. Discover how to create demand, build trust, and refine your sales strategies with Bethany's actionable tips, making this episode a must-listen for anyone looking to elevate their sales approach.KEY TAKEAWAYSAuthenticity and Process: The best sales strategies blend genuine relationships with a structured sales process, ensuring you connect authentically while driving results.Creating Demand: Go beyond rapport-building by identifying and amplifying your customer's pain points, creating a compelling need for your solution.Importance of Urgency: Injecting urgency and consistent follow-ups are key to staying top-of-mind in a competitive landscape where prospects are often overwhelmed.Customer-Centric Sales Process: A well-defined sales process helps keep the focus on customer needs, fostering stronger relationships and better sales outcomes.Overcoming Hesitancy: Don't shy away from diving deep into customer challenges. Tackling these issues head-on is essential for delivering real value and driving sales growth.QUOTES TO REMEMBER"When you shine the light on others, watch how fast they start to open up.""Being yourself is not enough. It's important, but it's more than being yourself.""The sales process makes us think about what it is to be the customer and not to take things personally.""Sales professionals must inject urgency and consistently follow up to stay relevant in a world full of competing priorities."FOLLOW THE CONVERSATIONBethany Ayers' LinkedIn: https://www.linkedin.com/in/bethanyayers/Learn more about Darrell and Larry:Darrell's LinkedIn: Darrell AmyLarry's LinkedIn: Larry LevineWebsite: Selling from the HeartGet the New Book That Will Help You Sell More... Without Destroying Your Relationships and Reputation Order 'Selling in a Post-Trust World'Please visit Barnes & Noble to order your copy of the rerelease of 'Selling from the Heart': Barnes & NobleSUBSCRIBE to our YOUTUBE CHANNEL! YouTube ChannelClick for your Daily Dose of Inspiration: Daily Inspiration

AMD one of the top performing S&P 500 stocks today after announcing it planned to acquire systems company ZT Systems for nearly $5B. CEO Lisa Su joins Jon in an exclusive interview to discuss the deal and what's next for the company. Bessemer's Byron Deeter on Palo Alto's strong numbers and the future of the software sector. FuboTV CEO David Gandler on a judge's decision to temporarily block a sport streaming service rival. 

You gone like this episode and go crazy. You've been warned LoL… Rumble Williams kicked things off with his observations of the traits of high successful individuals (01:00) which led to the team discussing our experiences with poverty (03:00) and the realities pulling yourself up by your bootstraps through education (10:00). After this, we continued our dissection of Kendrick Lamar by giving props to T.I. (15:00), referencing a Michael Eric Dyson article from the Times (19:00), and recapping Sauce Walka's interview (24:00). Next, Aldo let us know What Burned His Boudin this week including PS5 beef (28:00), RGIII being released (34:00), and people getting arrested from dopeheads killing themselves (37:00). On the back end of the pod, we discussed some school stories from dress codes in Bessemer, AL to chicken thievery in Chicago (44:00). Then, we talked about women proposing and couples charging for wedding (54:00) before ending with our Big Three Asian jobs (59:00).

Mike Droesch of Bessemer Venture Partners joins Nick to discuss The Path from Aspiring VC to Partner at Bessemer, Building Non-Consensus Conviction, The Most Compelling Vertical Applications of AI, and Why Fintech is the New Frontier in Supply Chain. In this episode we cover: AI Applications in Various Industries, Advancements in AI-Powered Voice Transcription Technology, AI's Potential to Disrupt Vertical SaaS Industries Business Models for AI Software, Including Copilots, Agents, and Tech-Enabled Services AI Applications, Defensibility, and Market Potential Open Source vs. Closed Source AI Models Supply Chain Inefficiencies and the Role of FinTech in Improving Payment and Invoicing Processes Investing in Non-Consensus Supply Chain Software Categories, Focusing on Procurement and Freight Audit Guest Links: LinkedIn Twitter/X  Bessemer Venture Partners The hosts of The Full Ratchet are Nick Moran and Nate Pierotti of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter. Are you a founder looking for your next investor? Visit our free tool VC-Rank and we'll send a list of potential investors right to your inbox!

Tech stocks staged a turnaround to start the week, helping lead the market higher. Vital Knowledge's Adam Crisafulli and Richard Bernstein Advisors' Dan Suzuki break down the market action and what's ahead. Earnings from NXP Semi, Cadence Design, Cleveland-Cliffs, Zions and Nucor. Stifel's Tore Svanberg on what NXP numbers mean for the rest of the industry. Mark Mobius on his top plays in emerging markets. Bessemer's Byron Deeter on Silicon Valley and Kamala Harris, plus what's next for AI and cloud companies. Bitwise Asset Management founder & CEO Hunter Horsley on his spot ether ETF on the eve of its first trading day. 

Ara Mahdessian is the Co-Founder and CEO @ ServiceTitan, one of the great vertical SaaS business of the last decade. Today the company powers over 11,800 trade customers and has raised over $1.4BN from some of the best including Bessemer, Battery, Index, ICONIQ and more. Their latest valuation pegged the business at a reported $7.3BN. In Today's Episode with Ara Mahdessian We Discuss: 1. The $7BN Company That Did Not Want To Raise VC Money: Why did Ara not want to raise VC funding in the early days? What convinced Ara to change his mind? Why did he choose Byron and Bessemer? Does Ara believe that ServiceTitan would have been the success that it is, if it had raised in today's market, a $5M on $25M seed round? What would they have done differently? 2. How to Master Going Upmarket: What are Ara's biggest lessons on what it takes to go upmarket? How does the product need to change? How does the org of the company change? When is the right time to go upmarket? What did ServiceTitan get wrong in their move into enterprise? What did Ara learn from this? 3. How to Build a Brand in SaaS and Have Premium Pricing: What are some of Ara's biggest lessons in how to build the best brand in vertical SaaS? What works in brand building in SaaS? What does not? What would he do differently? What have been Ara's biggest lessons on pricing? ServiceTitan is 3x their competitors, how does Ara think about what is required to have such premium pricing? 4. How to Master the Second Product & Be the Best at Customer Success: When is the right time to do a second product? Why is it too late to wait for PMF with your first product to do the second product? What product did ServiceTitan wait too long to release? What did they learn? What product did they release too early? What did they learn? What are the two core reasons why customer success is the most important element in a business? 5. The Core Pillars of Great Leadership: Why do product builder founders have such an increased chance of success in startups? Why do you have to have expertise in the domain you are hiring for to hire the best? What does truly great leadership mean to Ara today? How has his style of leadership changed? What has Ara learned from soccer that he has applied to being a CEO?  

Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: Contra Acemoglu on AI, published by Maxwell Tabarrok on June 29, 2024 on The Effective Altruism Forum. The Simple Macroeconomics of AI is a 2024 working paper by Daron Acemoglu which models the economic growth effects of AI and predicts them to be small: About a .06% increase in TFP growth annually. This stands in contrast to many predictions which forecast immense impacts on economic growth from AI, including many from other academic economists. Why does Acemoglu come to such a different conclusion than his colleagues and who is right? First, Acemoglu divides up the ways AI could affect productivity into four channels: 1. AI enables further (extensive-margin) automation. Obvious examples of this type of automation include generative AI tools such as large language models taking over simple writing, translation and classification. 2. AI can generate new task complementarities, raising the productivity of labor in tasks it is performing. For example, AI could provide better information to workers, directly increasing their productivity. Alternatively, AI could automate some subtasks (such as providing readymade subroutines to computer programmers) and simultaneously enable humans to specialize in other subtasks, where their performance improves. 3. AI could induce deepening of automation - meaning improving performance, or reducing costs, in some previously capital-intensive tasks. Examples include IT security, automated control of inventories, and better automated quality control 4. AI can generate new labor-intensive products or tasks. Each of these four channels is referring to specific mechanism in his task-based model of production. Automation raises the threshold of tasks which are performed by capital instead of labor Complementarities raises labor productivity in non-automated tasks Deepening of automation raises capital productivity in already-automated tasks New tasks are extra production steps that only labor can perform in the economy, for example, the automation of computers leads to programming as a new task. The chief sin of this paper is dismissing the latter half of these mechanisms without good arguments or evidence. "Deepening automation" in Acemoglu's model means increasing the efficiency of tasks already performed by machines. This raises output but doesn't change the distribution of tasks assigned to humans vs machines. AI might deepen automation by creating new algorithms that improve Google's search results on a fixed compute budget or replacing expensive quality control machinery with vision-based machine learning, for example. This kind of productivity improvement can have huge growth effects. The second industrial revolution was mostly "deepening automation" growth. Electricity, machine tools, and Bessemer steel improved already automated processes, leading to the fastest rate of economic growth the US has ever seen. In addition, this deepening automation always increase wages in Acemoglu's model, in contrast to the possibility of negative wage effects from the extensive margin automation that he focuses on. So why does Acemoglu ignore this channel? I do not dwell on deepening of automation because the tasks impacted by (generative) AI are quite different than those automated by the previous wave of digital technologies, such as robotics, advanced manufacturing equipment and software systems. This single sentence is the only justification he gives for omitting capital productivity improvements from his analysis. A charitable interpretation of this argument acknowledges that he is only referring to "(generative) AI", like ChatGPT and Midjourney. These tools do seem more focused on augmenting human labor rather than doing what software can already do, but more efficiently. Though Acemoglu is happy to drop the "generative" qualifier everywhere ...

This week, we discuss the 5 key trends from Bessemer's State of the Cloud 2024 report. Plus, Matt makes a stock pick for the next 10 years! Runner-up Titles Is it named after Hootie and the Blowfish? Prepaying for your bad behavior You have a thought piece, we're gonna think about it The Footloose Soundtrack Rundown Amazon Hits $2 Trillion Market Value as AI Frenzy Fuels Rally (https://www.bloomberg.com/news/articles/2024-06-26/amazon-amzn-hits-2-trillion-market-value-as-ai-frenzy-fuels-rally) State of the Cloud 2024 (https://www.bvp.com/atlas/state-of-the-cloud-2024) The Real Reason Why Music Is Getting Worse (https://youtu.be/1bZ0OSEViyo?si=F_Yy7c1RYkXh-Iqd) Relevant to your Interests The short, happy reign of CD-ROM (https://www.fastcompany.com/91128052/history-of-cd-roms-encarta-myst) 1Password is simplifying setup on new devices and adding 'Recovery codes' (https://9to5google.com/2024/06/20/1password-recovery-code-sign-in-beta/) Apple is winning in financial services (https://www.axios.com/2024/06/20/apple-winning-finance-bnpl) Anthropic's latest model, Claude 3.5 Sonnet, just released on Amazon Bedrock (https://www.threads.net/@ajassy/post/C8ccbgRiEeY) What it Takes to Be Valued at >10x Rev (https://cloudedjudgement.substack.com/p/clouded-judgement-62124-what-it-takes?utm_source=post-email-title&publication_id=56878&post_id=145617522&utm_campaign=email-post-title&isFreemail=true&r=2l9&triedRedirect=true&utm_medium=email) Microsoft makes Copilot less useful on new Copilot Plus PCs (https://www.theverge.com/2024/6/21/24182979/microsoft-copilot-key-keyboard-shortcut-pwa) Exclusive: Amazon mulls $5 to $10 monthly price tag for unprofitable Alexa service, AI revamp (https://www.reuters.com/technology/amazon-mulls-5-10-monthly-price-tag-unprofitable-alexa-service-ai-revamp-2024-06-21/) Amazon's new AI-powered Alexa might cost up to $10 per month (https://www.theverge.com/2024/6/21/24183013/amazon-alexa-ai-subscription) Is Your Driving Being Secretly Scored? (https://www.nytimes.com/2024/06/09/technology/driver-scores-insurance-data-apps.html) AI Tools Are Secretly Training on Real Images of Children (https://www.wired.com/story/ai-tools-are-secretly-training-on-real-childrens-faces/) Nvidia Is No Cisco, but It Is Getting Expensive (https://www.wsj.com/finance/investing/nvidia-is-no-cisco-but-it-is-getting-expensive-1938fcc0) Microsoft shelves its underwater data center (https://www.tomshardware.com/desktops/servers/microsoft-shelves-its-underwater-data-center) With Pen and Paper in Hand, Car Dealers Improvise as Cyber Outage Persists (https://www.wsj.com/business/autos/with-pen-and-paper-in-hand-car-dealers-improvise-as-cyber-outage-persists-2642ebb7) Nvidia Insiders Cash In on Rally as Share Sales Top $700 Million (https://www.bloomberg.com/news/articles/2024-06-18/nvidia-nvda-insiders-cash-in-on-rally-as-share-sales-top-700-million) We've got to talk about the environment when we talk about AI (https://thehustle.co/news/we-ve-got-to-talk-about-the-environment-when-we-talk-about-ai) Gmail's Gemini AI sidebar and email summaries are rolling out now (https://www.theverge.com/2024/6/24/24185277/google-gmail-gemini-ai-sidebar) Google is bringing Gemini access to teens using their school accounts (https://techcrunch.com/2024/06/24/google-is-bringing-gemini-access-to-teens-using-their-school-accounts/) Managing Your Mac Menu Bar: A Roundup of My Favorite Bartender Alternatives (https://feed.feedburster.com/macstoriesnet/redirect?url=https://www.macstories.net/roundups/managing-your-mac-menu-bar-a-roundup-of-my-favorite-bartender-alternatives/) Report: Amazon developing AI chatbot that would compete with ChatGPT and others (https://www.geekwire.com/2024/report-amazon-developing-ai-chatbot-that-would-compete-with-chatgpt-and-others/) How to escape VMware's pricey clutches with Virt-v2v (https://www.theregister.com/2024/06/21/virtv2v_helps_you_move_vms/) Figma's new Slides app focuses on design, fun, and (oh, yeah!) AI (https://www.fastcompany.com/91145153/figma-slides-presentations-config-2024) Powering the AI Revolution: The PyTorch Documentary (https://pytorch.org/blog/pytorch-documentary/) Polyfill supply chain attack hits 100K+ sites (https://sansec.io/research/polyfill-supply-chain-attack) Some CIOs say getting full value out of AI tools like Copilot for Microsoft 365 requires heavy lifting, as enterprise data isn't always accurate and up-to-date (http://www.techmeme.com/240626/p6#a240626p6) ****## Nonsense Cybertruck: The Embarrassing beginning of Teslas Demise (https://youtu.be/MoYXhcxngxI?si=Rxg48DLqAtyAE-Ck) The Buc-ee's Statue Got A New Look, And Fans Have Thoughts (https://www.southernliving.com/buc-ees-luling-statue-8665734) Delta's most exclusive airport lounge opens. Here's what's inside (https://www.cnbc.com/2024/06/25/delta-one-jfk-airport-lounge.html) Explaining Software Development Methods By Flying to Mars [Comic] (https://toggl.com/blog/mars-software-development) Sponsors Check out www.apilayer.com (https://apilayer.com/?utm_source=SoftwareDefinedTalkPodcast&utm_medium=Leads%20Acquisition&utm_campaign=PodcastDescription)! From scraping, finance to weather data, apilayer offers reliable and easy-to-integrate APIs for all your needs. Trusted by developers at companies worldwide. Use the code SDT2024 for an exclusive discount - 50% for 3 months on 100 API plans. Code is valid until Sep 30, 2024 Conferences DevOpsDays Birmingham (https://devopsdays.org/events/2024-birmingham-al/welcome/), August 19–21, 2024 DevOpsDays Antwerp (https://devopsdays.org/events/2024-antwerp/welcome/), 15th anniversary, Sep 4th-5th. SpringOne (https://springone.io/?utm_source=cote&utm_campaign=devrel&utm_medium=newsletter&utm_content=newsletterUpcoming)/VMware Explore US (https://blogs.vmware.com/explore/2024/04/23/want-to-attend-vmware-explore-convince-your-manager-with-these/?utm_source=cote&utm_campaign=devrel&utm_medium=newsletter&utm_content=newsletterUpcoming), August 26–29, 2024 SREday London 2024 (https://sreday.com/2024-london/), September 19th to 20th, Coté speaking. 20% off with the code SRE20DAY (https://sreday.com/2024-london/#tickets) SDT news & hype Join us in Slack (http://www.softwaredefinedtalk.com/slack). Get a SDT Sticker! Send your postal address to stickers@softwaredefinedtalk.com (mailto:stickers@softwaredefinedtalk.com) and we will send you free laptop stickers! Follow us: Twitch (https://www.twitch.tv/sdtpodcast), Twitter (https://twitter.com/softwaredeftalk), Instagram (https://www.instagram.com/softwaredefinedtalk/), Mastodon (https://hachyderm.io/@softwaredefinedtalk), BlueSky (https://bsky.app/profile/softwaredefinedtalk.com), LinkedIn (https://www.linkedin.com/company/software-defined-talk/), TikTok (https://www.tiktok.com/@softwaredefinedtalk), Threads (https://www.threads.net/@softwaredefinedtalk) and YouTube (https://www.youtube.com/channel/UCi3OJPV6h9tp-hbsGBLGsDQ/featured). Use the code SDT to get $20 off Coté's book, Digital WTF (https://leanpub.com/digitalwtf/c/sdt), so $5 total. Become a sponsor of Software Defined Talk (https://www.softwaredefinedtalk.com/ads)! Recommendations Brandon: Pause your YouTube TV Subscription (https://support.google.com/youtubetv/answer/7129668?hl=en&co=GENIE.Platform%3DAndroid#zippy=%2Chow-to-pause-your-membership) Matt: Anti-pick: NBN Broadband Photo Credits Header (https://unsplash.com/photos/two-linemen-on-cherry-pickers-fHLdXfURDhA) Artwork (https://unsplash.com/photos/a-yellow-arrow-is-surrounded-by-red-arrows-SWJPQQkuFWA)

Mike Droesch and Joe Lynch discuss the supply chain road map. Mike is a Partner at Bessemer Venture Partners, a venture capital firm that backs promising startups in technology, supply chain, healthcare, and consumer markets. Mike's focus is on logistics and supply chain. Click the link to see Mike review BVP's Supply Chain Roadmap.  Summary: The Supply Chain Road Map In this podcast, Mike Droesch from Bessemer Venture Partners shares insights on the importance of a supply chain roadmap and how technology is transforming the logistics industry. He discusses their firm's focus on investing in early-stage companies that bring innovation to the sector, and highlights key areas such as workflow optimization, digital connectivity, and automated financial workflows. Mike also emphasizes the significance of having a founding team with industry expertise and a deep understanding of pain points, and how venture capital funding enables the development of cutting-edge solutions in a competitive market. #SupplyChainRoadmap #LogisticsTech #VentureCapitalInsights About Mike Droesch Mike Droesch is a Partner in the Cambridge office primarily focusing on AI applications, cybersecurity, supply chain software, and B2B marketplaces. He currently serves on the board of directors for Tackle, Curri, Raft, Cypress, Netography, Optimal Dynamics, and VendorPM. Previously, Mike worked with a few venture-backed startups in Boston, including two Bessemer portfolio companies, Fuze and InsightSquared, where he supported sales operations and analytics efforts. He started his career as a systems engineer and then spent nearly three years in management consulting at Navigant, where he helped companies build new businesses around emerging energy and infrastructure technologies in the U.S. and Middle East. He holds an MBA from the MIT Sloan School of Management, a Master's Degree in naval architecture and engineering from the University of Michigan, and a degree in mechanical engineering from Tufts University. About Bessemer Venture Partners Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer's global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer's storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). Key Takeaways: The Supply Chain Road Map The importance of having a supply chain roadmap aligned with company goals and objectives. Bessemer Venture Partners' focus on investing in early-stage technology companies. The impact of COVID on the supply chain logistics technology industry and market volatility. Venture capital's preference for software businesses over hardware due to scalability and capital requirements. Mike Droesch's journey from mechanical engineering to venture capital at Bessemer Venture Partners. The supply chain roadmap: identifying opportunities for technology to impact the supply chain and logistics industry. Workflow optimization software helping trucking companies improve efficiency and profitability through data-driven decisions. Timestamps (00:00:00) The Supply Chain Roadmap (00:00:19) The History of Bessemer Venture Partners (00:02:00) Venture Capital in Supply Chain Logistics (00:06:31) Venture Capital's Focus on Software Startups (00:08:57) Discovering Venture Capital and BVP (00:12:13) Exploring the Supply Chain Technology Landscape (00:18:21) Optimizing Trucking with Workflow Optimization Software (00:24:35) Unlocking Supply Chain Efficiency with Digital Connectivity (00:29:02) Logistics Visibility: Bridging Silos and Automation (00:35:16) AI Readiness: Cleaning Data for Future Decisions (00:36:44) Automating Financial Workflows with AI (00:38:08) Improving Invoicing and Payment with AI (00:42:11) VC Funding Drives Logistics Industry Innovation (00:42:48) Streamlining Supply Chains for Competitive Advantage (00:44:14) Investing in Early-Stage Supply Chain Tech (00:46:56) Industry Expertise Trumps Finance in Supply Chain Startups (00:48:49) Investing in Supply Chain Startups Learn More About The Supply Chain Road Map Mike Droesch | Linkedin Bessemer Venture Partners | Linkedin Bessemer Venture Partners The Logistics of Logistics Podcast If you enjoy the podcast, please leave a positive review, subscribe, and share it with your friends and colleagues. The Logistics of Logistics Podcast: Google, Apple, Castbox, Spotify, Stitcher, PlayerFM, Tunein, Podbean, Owltail, Libsyn, Overcast Check out The Logistics of Logistics on Youtube

Around 1910, Black farmers collectively owned over 16 million acres of farmland. A century later, over 90% of that land is no longer owned by Black farmers. In Lee's own family, the acquisition and loss of land has been a contentious issue for nearly every generation, sometimes leading to tragic circumstances. In this episode, Lee heads back to Alabama to meet his cousin Zollie, a longtime steward of the family land, to learn more.Lee is later joined by Jillian Hishaw, an agricultural lawyer and author, who has devoted her life to helping Black families keep their land. They discuss the tumultuous history of Black land ownership and what Black families should do to keep land in the family.TranscriptLee Hawkins (host): We wanted to give a heads up that this episode includes talk of abuse and acts of violence. You can find resources on our website whathappenedinalabama.org. Listener discretion is advised. Hi, this is Lee Hawkins, and we're about to dive into episode four of What Happened In Alabama. It's an important conversation about the history of land in Black communities – how it was acquired, how it was taken, lost, and sometimes given away, over the past century – but you'll get a lot more out of it if you go back and listen to the prologue first. That'll give you some context for putting the whole series in perspective. Do that, and then join us back here. Thank you so much. [music starts]Around 1910, Black farmers collectively owned over 16 million acres of farmland. A century later, 90% of that land is no longer in the hands of Black farmers. Economists estimate that the value of land lost is upwards of 300 billion dollars.This is an issue that's personal for me. There were large successful farms on both sides of my family that we no longer own, or only own a fraction of now. How we became separated from our land is part of the trauma and fear that influenced how my parents raised me. I want to get to the heart of what happened and why. That's the goal of this episode. I'm Lee Hawkins, and this is conversation number four, What Happened In Alabama: The Land.Zollie: I may not have money in my pocket. But if I have that land, that is of value. That is my – my kids can fall back on this land, they'll have something.That's Zollie Owens. He's my cousin on my dad's side, and Uncle Ike's great-grandson. Zollie lives in Georgiana, Alabama, not far from Uncle Ike's farm. Uncle Ike is a legend in my family. He was my Grandma Opie's brother, and very much the patriarch of the family until he passed in 1992. I only met him once, back in 1991 when my family drove down to Alabama. But his name and presence have held a larger-than-life place in my psyche ever since.Zollie: And so that was instilled in me back then from watching Uncle Ike and my uncles, his sons, do all that work on that land.For the first time since my visit with my family in 1991, we're headed back there. Zollie's lived his whole life in this town. It's where he played and worked on the farm as a kid, where he got married, and where he raised his family. And because Uncle Ike had such an influence on him, he's made working and farming the land his life. I would say that out of all my cousins, the land is the most important to him. And that was instilled in him through Uncle Ike. Zollie: This man. I don't know if he was perfect, but he was perfect to me. I didn't see him do anything wrong from my understanding. And reason being, because whenever he said something, it generally come to pass.He was extremely respected and well-liked. So much so that years after his death, his impact is still felt.Zollie: I have favor off of his name now today. When they found out that I'm his grandson, I get favor off of his name because of who he was. And that's not for me to just go out and tear his name down, but it's to help keep up his name.Lee: Oh, that was one thing that was mentioned about credit – that way back in the day he had incredible credit around the town. That even his kids, that they would say, “Oh, you're Ike's kids. You don't have to pay. Pay me tomorrow,” or whatever, [laughter] which was a big deal then, because Black people didn't get credit a lot of times. Black people were denied credit just based on the color of their skin. But he seems to have been a very legendary figure around this town. Zollie: Being amenable, being polite, speaking to people, talking to 'em about my granddad and everything. And so once I do that, they get the joy back, remembering, reminiscing how good he was to them – Black and white.[music starts]Cousin Zollie spent a lot of time at Uncle Ike's when he was a kid. Like all my cousins who knew Uncle Ike, he had fond memories of him. Zollie: He passed when I was like 12 or 13, but I remember him sitting me in my lap or sitting on the shoulder of the chair and he would say, “Man, the Lord gonna use you one day, the Lord gonna use you. You smart, you're gonna be a preacher one day.” And like so many of the men in my family, Zollie is very active in the church. In fact, he became a preacher, and even started a gospel group. And he's preached at Friendship Baptist, where the funeral services for my Grandma Opie were held.We bonded over both growing up in the music ministry, listening to our elders singing those soul-stirring hymnals they'd sing every Sunday.Lee: And now, of course, they didn't even, I realize that a lot of times they weren't even singing words. They were just humming –Zollie: Just humming. Lee: You know? Zollie: Oh yes. Lee: And then the church would do the call and response. And the way that that worked, somebody would just say [singing], "One of these days, it won't be long," you know, and then –Zollie: [singing] “You're gonna look for me, and I'll be gone.” Lee: Yup. [laughter][Lee humming] [Zollie singing]Lee: Yeah. [Zollie singing]Lee: Yeah. [Lee laughs]Uncle Ike owned a 162-acre farm in Georgiana. Zollie and his wife took me back to visit it. The farm is no longer in the family, but the current owner, Brad Butler, stays in touch with Zollie, and he invited us to come and check out the property. Zollie: There was a lot of pecan trees, which he planted himself. Kyana: These are all pecans? Brad: Yup, these are pecans. These are, the big ones are pecans. That's a pear.Zollie's wife: And that's a pear, okay.Brad: Yeah.Lee: Did he plant that too? Zollie: Which one?Lee: The pecans? Zollie: Yes, he did. Yes, he did. Brad: But now, come here. Let me, let me show you this pear tree. This pear tree will put out more pears than any tree you've ever seen in your life. Lee: Oh, yeah?Brad: Yup, there'll be a thousand pears on this tree.These are all trees Uncle Ike planted decades ago. It was an active farm up to the 1980s – and a gathering place for family and so many other people in the region. The property is split up in two sides by a small road. One one side is where all the pecan and peach trees are. The other side has a large pond about twice the length of a pro basketball court. Beyond that, it's all woods. [walking sounds]As we walk, I look down at the ground beneath my feet at the red soil that many associate with Alabama and other parts of the deep south. It's a bright red rust color, and it's sticky. There's no way to avoid getting it all over and staining your shoes. Lee: Why is the dirt so red here? Zollie: It's been moved in. Lee: Okay.Zollie: The red dirt has been moved in for the road purpose – Lee: I see. Zollie: It get hardened. And it is hard like a brick, where you can drive on it. The black dirt doesn't get hard. It's more ground for growing, and it won't be hard like a brick. Zollie's referring to what's underneath this red clay that makes the land so valuable: the rich, fertile soil that makes up the Black Belt – a stretch of land across the state that was prime soil for cotton production. This land wasn't just valuable for all the ways it offered sustenance to the family, but also for everything it cost them, including their blood. When I was 19 years old, I found out that Uncle Ike's father, my great-great-grandfather, Isaac Pugh Senior, was murdered. Isaac Pugh Senior was born before emancipation in 1860, the son of an enslaved woman named Charity. His father remains a mystery, but since Isaac was very fair-skinned, we suspect he was a white man. And the genealogy experts I've worked with explained that the 18% of my DNA that's from whites from Europe, mainly Wales, traces back to him and Grandma Charity. The way it was told to me the one time I met Uncle Ike, is that Isaac Pugh Senior lived his life unapologetically. He thrived as a hunter and a trapper, and he owned his own farm, his own land, and his own destiny. And that pissed plenty of white folks off. In 1914, when he was 54 years old, Isaac was riding his mule when a white man named Jack Taylor shot him in the back. The mule rode his bleeding body back to his home. His young children were the first to see him. I called my dad after one of my Alabama trips, to share some of the oral history I'd gotten from family members.Lee: When he ran home, her and Uncle Ike and the brothers and sisters that were home, they ran out. And they saw their father shot full of buckshot in his back. Lee Sr.: Mm mm mm. Mm hm.Lee: They pulled him off the horse and he was 80% dead, and he died, he died later that night.Lee Sr.: With them? Wow. Lee: Yeah.Soon after Isaac died, the family was threatened by a mob of white people from around the area, and they left the land for their safety. Someone eventually seized it, and without their patriarch, the family never retrieved the land and just decided to start their lives over elsewhere. Knowing his father paid a steep price for daring to be an entrepreneur and a landowner, Uncle Ike never took land ownership for granted. He worked hard and eventually he bought his own 162-acre plot, flanked by beautiful ponds and acres upon acres of timber. [music]Over four years of interviews, Dad and I talked a lot about the murder of Isaac Pugh Senior. Uncle Ike told us about it during that visit in 1991, but years passed before I saw anything in writing about the murder.Before that, I'd just been interviewing family members about what they'd heard. And their accounts all matched up. For years, some family members interested in the story had even gone down to the courthouse in Greenville to find the records. On one visit, the clerk looked up at one of my cousins and said, “Y'all still lookin' into that Ike Pugh thing? Y'all need to leave that alone.” But they never gave up. Then, I found something in the newspaper archive that would infuse even more clarity into the circumstances surrounding the murder of my great-grandfather Ike Senior. It brought me deeper into What Happened In Alabama, and the headline was as devastating as it was liberating.There it was, in big, block letters, in the Montgomery Advertiser: WHITE FARMER SHOOTS NEGRO IN THE BACK. The shooting happened in 1914, on the same day as my birthday.It read: “Ike Pew, a negro farmer living on the plantation of D. Sirmon, was shot and killed last night by a white farmer named Jack Taylor. An Angora goat belonging to Mr. Taylor got into the field of Pew and was killed by a child of Pew. This is said to be the reason Taylor shot the Negro. The Negro was riding a mule when he received a load of buckshot in his back.”My dad was surprised to hear all the new details. Grandma Opie herself only told Dad that he'd died in a hunting accident. Lee: Do you realize that when your mom's father was killed, she was nine?Lee Sr.: She was nine?Lee: She was nine. And she never told you that her dad was killed? Lee Sr.: Well, let me think about that. My sisters told me that. Not my mom. My mom didn't talk about anything bad to me.I asked Zollie about Isaac, and if he ever remembers Uncle Ike talking about his father's murder. Zollie: No, I never heard that story. No, no, never. Not that I can remember him mentioning it. No sir. I can't say that I'm surprised by this answer. By now, I've seen how so many of our elders kept secrets from the younger generations, because they really didn't want to burden us with their sorrow. But I couldn't help but think, “If these trees could talk.” Walking around the family property, I feel the weight of history in the air. To me, that history makes the land valuable beyond a deed or dollar amount.Uncle Ike's farm is no longer in the family. It wasn't taken violently the way his father's farm was, but it fell victim to something called Heir's Property, which as I realized talking to Zollie, can be just as heartbreaking and economically damaging to generations of Black landowners. Zollie: I may not have money in my pocket. But if I have that land that is of value, that is money. [music starts]When Zollie was younger, he lived on part of Uncle Ike's land and he paid lot rent every month. When Uncle Ike passed in 1992, he had a will. In it, he left the land to his living children, but it wasn't clear how it should be divided up. His son, Pip, was the only one living on the land, so that's who Zollie paid rent to. But when he died, there was no documentation to prove that Zollie had been paying rent. Zollie: And so when it came up in court, I did not have no documentation, no legal rights to it.After the death of a property owner, and without proper estate plans, land often becomes “heirs property,” which means that the law directs that the land is divided among descendents of the original owners. The law requires “heirs” to reach a group consensus on what to do with the land. They inherit the responsibility of legal fees to establish ownership, property fees, and any past debt.Zollie wanted to keep the land in the family. He was ready to continue farming on it as he had been for 17 years. But some other family members weren't interested. Many had long left Georgiana and the country life for Birmingham or larger cities up north, like my father and his sisters. Some didn't want to take on the responsibilities of maintaining the land.Zollie: The part of the land that I was living on, on the Pugh family estate, it got sold out from up under me. I could have never dreamt of anything like that was gonna happen to me. Where I would have to move off the family land. The family didn't come together. They couldn't even draw me up a deed to take over the spot I was on. In the South today, “heirs property” includes about 3.5 million acres of land – valued at 28 billion dollars. Heirs property laws have turned out to be one of the biggest factors contributing to the loss of Black family land in America. It's devastating not just for the loss of acreage but the loss of wealth, because when the court orders a sale of the land, it's not sold on the market, it's sold at auction, usually for much less than it's worth. Brad: When this thing sold at auction, Hudson Hines bought it, and they cut the timber. That's Brad Butler again. He bought Uncle Ike's farm at auction in 2015.Brad: And we were just gonna buy it, kind of fix it up a little bit and then sell it and go do something else. Towards the end of our tour, my cousin Zollie turns to Brad and makes him an offer. Zollie: You know, some of the family, like myself and Mr. Lee, want to get together and make you an offer. Would you be willing to sell? Brad shakes his head and points to his son, who's been hanging out with us on the tour of the land. Brad: Not right now. Now right now. This is, this is his. And we've done so much trying to get it ready.It's his land, he says. His son's. It's heartbreaking to hear, but I didn't expect any different. It makes me think about Uncle Ike and if he ever thought things would pan out this way. After the property tour with Brad, Zollie invited me over to his house, where I asked him how he thinks Uncle Ike would feel. Zollie: He would be disappointed. That just the way, my memories of it and the way he, he did, I believe he would be disappointed. I really would. Lee: And he did the right thing in his heart by leaving the land and putting everybody's name on it. But then that ended up making it harder –Zollie: Yes.Lee: Right, and I don't quite understand that, but, because everybody's name was on it, then everybody had to agree. If he would have left it to one person, then you could have all, that person could have worked it out. Is that how – Zollie: Yes, that is correct. Lee: The law works?Zollie: And then when the daughters and the sons, when they all passed, it went down to their children. And that meant more people had a hand in it now and everybody wanted their share, their portion of it. Because they're not used to the country living it, it didn't mean anything to 'em. It was just land. Lee: So it sounds like a generational thing. Zollie: Yes. Lee: And especially if you're, not only if you're not used to the country living, but if you didn't grow up there –Zollie: If you didn't grow up there.Lee: And you didn't really know Daddy Ike.Zollie: Mm hm. Lee: Is that also –Zollie: Yep.Lee: A factor?Zollie: I can see that. Yes.Lee: Okay. Zollie: Oh yes.Lee: Man, this is so interesting because it happens in so many families –Zollie: It does.Lee: Across the country. It really does. And this land out here more and more, it's getting more and more valuable.Zollie: Oh yes. It's just rich. Some parts of it is sand, but a lot of part – and it's, the stories that I've been told, Bowling is up under a lake. There's a lake flowing up under Bowling. Lee: Oh.Zollie: That's why it's so wet all the time in Bowling, and it is good for growing because the ground stays wet. That wet ground is fueling an agricultural economy that so many Black farmers – like my cousin – have been shut out of. It's enough to turn people away from farming altogether. I couldn't imagine being a farmer, but Zollie wasn't deterred. After leaving Uncle Ike's land, he and his wife purchased a plot and built a house on it in 2021. It's on the edge of Georgiana, six miles away from Uncle Ike's old farm. It's a four-bedroom, three-bath brick home which sits on three acres Zollie owns. He said it was important for him to own so that he could leave something behind – and he's already talked with his children in detail about succession planning. Lee: What I love about you is that you are one of the people who stayed. Zollie: Yes.Lee: And you are our connection to the past, which we desperately need. Because I think a lot of people feel like, ‘Well, where would I work in Georgiana,' ‘Where would I work in Greenville?' And then they end up leaving and then they lose that connection. And I think a lot of us have lost the connection, but you're still here with a farm. What does it mean to have land and to have a farm? What does it mean to you? What's the significance to you?Zollie: My kids can fall back on this land. They'll have something. Like when it comes to getting this house. My land helped me get my house built this way. And so I thank God for that. [music starts]I'm so glad that I was able to sit with my cousin Zollie and hear his story. Growing up in a suburb outside of a major city, the importance of land was never really impressed upon me. In some ways it felt regressive to make your living with your hands, but I understand so much clearer now how powerful it is to be connected to the land in that way. Imagine how independent you must feel to be so directly tied to the fruits of your labor – there's no middleman, no big corporation, and no one lording over you. When you have land, you have freedom. What must that freedom have felt like for the newly emancipated in the late 1800s? And how did it become such a threat that in the past century, Black people would lose over 90% of the farmland they once owned?Jillian: Land is power, because you not only own the soil, but, it's mineral rights, you know, which is what my family have, you know, is airspace. You know, you own everything when you, when you own acreage. These are some of the questions that led me to Jillian Hishaw. She's an agricultural lawyer with over 20 years of experience helping Black families retain their land. She previously worked in the civil rights enforcement office of the US Department of Agriculture, or USDA, and she founded a non-profit called FARMS that provides technical and legal assistance to small farmers. She's also the author of four books including Systematic Land Theft which was released in 2021. In our wide-ranging conversation, we talked about the history of Black farmland, how it was gained and how it was lost, and what people misunderstand about Black farmers in this country. Lee: I mean, you've done so much. What drew you to this work? Jillian: My family history. My grandfather was raised on a farm in Muskogee, Oklahoma. And when they relocated to Kansas City, Missouri, which is where I was born and raised, my great-grandmother moved up several years later, and they hired a lawyer to pay the property tax on our 160-acre farm. Our land was sold in a tax lien sale without notice being given to my grandfather or my great-grandmother. And so where my grandfather's house is, there's an oil pump going up and down because the land had known oil deposits. So that's why I do what I do. Lee: Okay. And I mean, wow, that, that is just such a familiar narrative. It sounds like this is a pervasive issue across the Black community –Jillian: Yes. Lee: How did Black people come to acquire farmland in this country? And when was the peak of Black land ownership? Jillian: Yes. So the peak was definitely in 1910. According to census data and USDA census data, we owned upwards to 16 to 19 million acres, and we acquired it through sharecropping. Some families that I've worked with were actually given land by their former slaveholders and some purchased land. Lee: Wow. Okay. And that dovetails with an interview that I did with my uncle in 1991 who told me that in his area of Alabama, Black people owned 10 to 15,000 acres of land. And when he told us that, we thought, ‘Well, he's old, and he probably just got the number wrong.' But it sounds that that's true. It sounds like Black people in various parts of the country could own tens of thousands of acres of land collectively. Jillian: Yes, yes, I know that for a fact in Alabama because I finished up school at Tuskegee University. So yes that is accurate. Your uncle was correct. Lee: Okay. And when and how did many of these families lose the land? Jillian: So the majority of land was lost after 1950. So between 1950 and 1975, we lost about half a million Black farms during that time. The primary reason why it was lost in the past was due to census data and then also record keeping. With the census data, they would state, ‘Oh, well, this farmer stated in his census paperwork that he owned 100 acres.' But then the recorder would drop a zero. Things of that nature. And so also courthouses would be burned. So let's take Texas, for example. There were over 106 courthouse fires. And a lot of those records, you know, were destroyed. Now, ironically, often during those courthouse burnings, the white landowners' records were preserved and, you know, magically found. But the Black landowners' records were completely destroyed, and they have no record of them to this day. Now, the primary reasons for the present land loss is predatory lending practices by US Department of Agriculture. Also, lack of estate planning. Lee: So for our family in particular, I mean, I never really understood the heirs property and how that ended up causing our family to have to, you know, get rid of the land or sell the land. Can you tell me about heirs property? What is it and why has it disproportionately affected Black landowners? Jillian: So over 60% of Black-owned land is heirs property, and the legal term is “tenants in common.” But, you know, most Black folk call it heirs property. And heirs property begins when a, traditionally a married couple will own the land outright in their names. And so it'll be Mr. and Mrs. Wilson. And if they don't have a will and they die, what's called intestate, and they die without a will, the state takes over your “estate distribution.” And when I say estate, that's all of your assets that make up your estate. So your property, your house, your car, your jewelry, your clothes, everything. And the state will basically say, ‘Okay, well, since you died without a will, then all of your living heirs will share equally,' you know, ‘ownership in whatever you left' in, you know, with Black farm families, that was the land, that was the homestead, that was the house. And so say Mr. and Mrs. Wilson pass away without a will, and they have 10 kids, and then those 10 have 100 kids and so forth and so on. And so, you know, five generations later, there's 300, you know, people that own, you know, 100-acre, you know, or 200-acre farm outright. And if one of those 200 heirs sells to a third party, oftentimes it's some distant cousin in LA or Pennsylvania for whatever reason, and they just sell their rights, to a developer often, that developer basically takes the place of that, you know, third cousin in LA. And they'll go around, like in the, you know, the Bessemer case in South Carolina, and they'll, you know, get another third cousin in San Francisco and in, you know, Arizona and in Houston and then they'll go to the court and they'll force the sale of the remaining, you know, 195 heirs because 200 were owners in what's called a court partition sale. And that's how we lose 30,000 acres each year so fast, so quick. Lee: Wow. And this is exactly, very similar to what happened to my cousin Zollie. I mean he was just heartbroken, because he didn't have the money to do it himself. And so he ended up getting some other land, but it was really hard for him. People talk about this in the context of saying, “We lost the land.” But there are others who might say, “Well, you didn't lose the land. You sold the land because you couldn't come to an agreement.” Is this a strategic way to wrestle land away from families? Jillian: Yes. In, in part. But, you know, Black people also have to accept responsibility. You know, I, I've tried years to get families to agree. I mean, you know, you have to come to some agreement. You can't just, you know, bicker about stuff that happened in 1979. I mean, you have to get past your own differences within your family. And that's part of the problem. And the families need to come together to conserve their land. Because, you know, I'll tell you right now, if my family had it any other way, we would come together to get our land back. I have taught workshops and written books. You know, I've written about four or five different books, and families have taken those books, you know, attended the workshops, and they've cleared their deed, you know, and it's heirs property. And so what I'm saying is that it can work. And I wish more families would, would do that because I've seen it work. Lee: We definitely don't want to take a victim mentality, but the legacy of white supremacy in this country sort of positions us to have tense relationships, because there's a lot of unaddressed things that happen, and there are a lot of secrets that are kept. [music]Lee: Tell me about the clashes over land between whites and Blacks. What did they look like, especially in the period following the Civil War? Jillian: So during Reconstruction and post-Reconstruction, we all know about the “40 acres and a mule” program and how, you know, within a year the land was given and then taken back. But there were landowners, particularly Black, of course, that got to keep the land, and some were located in South Carolina, primarily South Carolina, Georgia, and a few areas in Alabama. Of course, there were clashes with, particularly when the patriarch passed away, similar to to your ancestors. Whites would go to the land and force the Black mother and wife off of the land, and they would set the house on fire and just force them to, to get off the land. When she shared those details, I thought back to the family members who told me about Isaac Pugh's wife and my great-grandmother, Ella Pugh, and the horrifying situation she found herself in, with more than a dozen kids, a murdered husband, and a mob of men on horses coming by every night, screaming for them to leave. That's the part of this story that the newspaper article didn't contain. Uncle Ike said, “They were jealous of him.” He talked about Taylor, too, but also about a band of whites that he believed were working with him. The news reports said the murder was about livestock, but according to Uncle Ike, it was about land. The assaults on my family and many others were orchestrated, and institutional. And the attacks on Black landowners wasn't just about one white man resenting a Black man. The damage was often done by groups of people, and institutions, including government agencies like the United States Department of Agriculture. Lee: What was the impact of Jim Crow on Black land loss? Jillian: Well, it was definitely impactful. You know, again, going back to the, 1950 to 1975, half a million farms were lost during that time, and the equivalent now is 90%. We've lost 90% of the 19 million acres that we owned. You know, according to the 1910 census data. And, a lot of that is due to, you know, Jim Crow and, you know, various other factors. But, you know, this was predatory lending, particularly by USDA. And so you also need to look at USDA. And the reason why you need to look at USDA is because it's “the lender of last resort.” And that's basically the hierarchy and the present foundation of the USDA regulations right now. And it's admitted guilt. They, they've admitted it, you know, from the 1965 civil rights report, you know, to the CRAT report to the, you know, the Jackson Lewis report, you know, 10 years ago, that they purposely discriminate, particularly against Black farmers. And it's due to predatory lending. You look at the fact that between 2006 and 2016, Black farmers made up 13%, the highest foreclosure rate out of all demographics. But we own the least amount of land. And so, you know, that right there is a problem. Lee: What is the state of Black land ownership today and where is it really trending?Jillian: To me it's trending down. The '22, '22 USDA census just came out last month, and the demographic information will be out, I believe, June 26th. But, we own, you know, less than 2% according to the USDA census, but I believe it's like at 1%, because they include gardeners in that, in that number to inflate the numbers. But, but yeah. So it's, it's trending down, not up. Lee: Okay. And what do people get wrong about Black land ownership in this specific history? I mean, I know that there are everyday folks who have opinions that they speak about freely, as if they're experts, but also educators and journalists and policy makers and lawmakers. I mean, what do they get wrong about this history? Jillian: They portray the Black farmer as poor, illiterate, and basically don't know anything, but that's for, you know, that's far from the truth. I know families – five-generation, four-generation cotton farmers that own thousands of acres and are very, you know, lucrative. And so the, this portrayal of the, you know, the poor Black farmer, you know, dirt poor, land rich, cash poor is just a constant. And a lot of my clients don't even like talking to reporters because of that narrative. And it's, it's not true. Lee: I feel like it's missing that the majority of this land in this country was acquired unfairly. And on the foundation of violence and on the foundation of trickery – Jillian: Yes.Lee: And legal maneuvering. And I don't see that really as something that is known in the masses. Jillian: Correct. Lee: Or acknowledged. Is that true or –Jillian: That's true. Lee: Or am I off?Jillian: Yes. That's true. But with Black folk it wasn't, it's not true. So Black people earned the land. They, they worked, they paid, you know, for it. It wasn't acquired through trickery and things like that compared to the majority. You know, the 2022 USDA census, you know, 95% of US farmland are owned by whites. You know, as you know, similar to the 2017, you know, USDA census. And so that is often, you know, the case in history. That it was acquired through violence. Lee: Mm hm. And how would you like for the conversation around Black land ownership to grow and evolve? Where's the nuance needed?Jillian: I believe the nuance is through – like you referenced – financial literacy. We need to retain what we already have, and that's the mission of my work, is to retain it. And so we've saved about 10 million in Black farmland assets, you know, over the 11 years that I've been in operation through my non-profit. And it's important that we focus on retention. You know a lot of people call me asking, ‘Oh, can you help me, you know, find land, buy land,' but that's not my job. My job is to retain what we have. In my family's case, I wonder if the inability to reach an agreement on whether to keep Uncle Ike's land in the family would have been different if the younger generations would have had a chance to talk with Uncle Ike about the hell he went through to acquire it. Or maybe if they'd all had the opportunity to learn about the history of Black land loss and theft even in more detail. I just don't know. But what's clear is, though I don't hold any resentment about the decision, I do think it's just another example of how important studying genealogy can be. Not just the birth dates and the death dates, but the dash in between. Learning about our ancestors, and what they believed in, what they went through, and what they wanted for us. I know that's what a will was intended for; but in Uncle Ike's will, he thought he was doing the right thing by leaving the land to his children equally. I don't know if he knew about heirs property law. But even if he did, I suppose he never dreamed that the future generations would see any reason to let that land go. Not in a million years. [music starts] Lee: And what do you think about the debate around reparations, especially as it relates to land? I know that there was a really hyper visible case of a family in California that got significant land back. Do you think justice for Black farmers is achievable through reparations? Jillian: I believe it is, but I don't know if it's realistic because it's based on the common law. It's based on European law and colonial law. And so how are we supposed to get reparations when, you know, we can't even get, you know, fair adjudication within, you know, US Department of Agriculture. And so we're basing it, and we're trying to maneuver through a system that is the foundation of colonial law. And, I think that that will be very hard. And I think that we should take the approach of purchasing land collectively. Where are the Black land back initiatives? When are we gonna come together, you know, collective purchasing agreements? Lee: You're blowing me away. Jillian: Thank you. Lee: And I just really want to thank you for this work that you're doing. I believe that as a Christian, I'll say that I believe that what you're doing is God's work. And I just hope that you know that. And I just wanted to, to really just thank you. On behalf of my family, I thank you so much. Jillian: Thank you.Talking with Jillian Hishaw helped me clearly see that the racial terrorism and violence against my Black American family and countless others under Jim Crow was not solely physical but also economic. Hordes of white supremacists throughout America felt divinely and rightfully entitled to Black land, just as their forefathers did a century before with native land. They exploited unjust policies and the complacency of an American, Jim Crow government that often failed to hold them accountable for their murders and other crimes. Before Malcolm X yelled out for justice “by any means necessary,” Jim Crow epitomized injustice by any means necessary. This conversation deepened my understanding of the deadly penalty Black Americans paid for our determination, for daring to burst out of slavery and take our piece of the American Dream through working hard and acquiring land. Since 1837, I've had a family member killed every generation, and this reporting helped me understand why so many of them were killed over land and the audacity to move ahead in the society. So to see the deadly price family members paid only to see it lost or sold off by subsequent generations that are split as to how important the land is to them is truly eye-opening, something I see more clearly now.To understand part of the root of this violence, I have to travel back to uncover a part of my history I never thought about until I started researching my family. It's time to meet the Pughs – my white ancestors from across the Atlantic. Next time on What Happened in Alabama. What Happened In Alabama is a production of American Public Media. It's written, produced, and hosted by me, Lee Hawkins.Our executive producer is Erica Kraus. Our senior producer is Kyana Moghadam.Our story editor is Martina Abrahams Ilunga. Our producers are Marcel Malekebu and Jessica Kariisa. This episode was sound designed by Marcel Malekebu. Our technical director is Derek Ramirez. Our soundtrack was composed by Ronen Landa. Our fact checker is Erika Janik.And Nick Ryan is our director of operations.Special thanks to the O'Brien Fellowship for Public Service Journalism at Marquette University; Dave Umhoefer, John Leuzzi, Andrew Amouzou, and Ziyang Fu; and also thank you to our producer in Alabama, Cody Short. The executives in charge at APM are Joanne Griffith and Chandra Kavati.You can follow us on our website, whathappenedinalabama.org or on Instagram at APM Studios.Thank you for listening.

Only one funding announcement this week, so we dive deep into Thoma Bravo's past and present portfolio. They recently announced a sale of Venafi to Cyberark and no one is quite sure how much of a hand they had in the LogRhythm/Exabeam merger, and whether or not they sold their stake in the process. We also have a crazy stat Ross Haleliuk spotted in Bessemer's analysis: "13 out of 14 cybersecurity companies acquired in the past year for over $100M were from Israel". Is this an anomaly? Does it just mean that Israel wasn't shy about selling when the market was down? We discuss. A number of new product announcements continue to trickle out post-RSA. We'll also discuss Sam Altman and OpenAI's decision to use Scarlett Johansson's voice against her will and what it could mean for deepfakes, advanced social engineering techniques, and general big tech sliminess. Do you know what a "product glorifier" is? How about a glowstacker? You will if you check out the second-to-last story in the show notes! See the show notes for individual descriptions on each RSAC interview. This week, we feature speakers from Sailpoint, Okta, Ping Identity, LimaCharlie, QwietAI, and Picus! Visit https://www.securityweekly.com/esw for all the latest episodes! Show Notes: https://securityweekly.com/esw-363

Only one funding announcement this week, so we dive deep into Thoma Bravo's past and present portfolio. They recently announced a sale of Venafi to Cyberark and no one is quite sure how much of a hand they had in the LogRhythm/Exabeam merger, and whether or not they sold their stake in the process. We also have a crazy stat Ross Haleliuk spotted in Bessemer's analysis: "13 out of 14 cybersecurity companies acquired in the past year for over $100M were from Israel". Is this an anomaly? Does it just mean that Israel wasn't shy about selling when the market was down? We discuss. A number of new product announcements continue to trickle out post-RSA. We'll also discuss Sam Altman and OpenAI's decision to use Scarlett Johansson's voice against her will and what it could mean for deepfakes, advanced social engineering techniques, and general big tech sliminess. Do you know what a "product glorifier" is? How about a glowstacker? You will if you check out the second-to-last story in the show notes! See the show notes for individual descriptions on each RSAC interview. This week, we feature speakers from Sailpoint, Okta, Ping Identity, LimaCharlie, QwietAI, and Picus! Visit https://www.securityweekly.com/esw for all the latest episodes! Show Notes: https://securityweekly.com/esw-363

Only one funding announcement this week, so we dive deep into Thoma Bravo's past and present portfolio. They recently announced a sale of Venafi to Cyberark and no one is quite sure how much of a hand they had in the LogRhythm/Exabeam merger, and whether or not they sold their stake in the process. We also have a crazy stat Ross Haleliuk spotted in Bessemer's analysis: "13 out of 14 cybersecurity companies acquired in the past year for over $100M were from Israel". Is this an anomaly? Does it just mean that Israel wasn't shy about selling when the market was down? We discuss. A number of new product announcements continue to trickle out post-RSA. We'll also discuss Sam Altman and OpenAI's decision to use Scarlett Johansson's voice against her will and what it could mean for deepfakes, advanced social engineering techniques, and general big tech sliminess. Do you know what a "product glorifier" is? How about a glowstacker? You will if you check out the second-to-last story in the show notes! Show Notes: https://securityweekly.com/esw-363

Startups are not shying away from big projects. That's my takeaway from news that The Browser Company's Arc browser is now generally available for Windows users, just as Island raised a massive grip of capital for its enterprise-focused browser tool. It's very encouraging to see startups going after core pieces of technology, and not just the apps that sit atop platforms.Of course, Chromium still reigns supreme, but unseating that horse might take a while.Elsewhere in startup-land this week on Equity, we dug into the Chowdeck round. It's a Nigerian company that is putting up impressive growth with its food delivery business. Keep an eye on it, Nigeria is a big market and TechCrunch writes that no single company has its delivery business on lock. Yet, at least.On this morning's episode we also took a look at the recent Corelight round, which given its valuation and revenue growth, is one to chew on.From the venture side of things, we discussed two stories. First, that Intuition is going after the consumer market. From Paris, the smaller fund is betting that going the opposite direction as most VCs is how to make the most money. And second, a new venture capital supergroup is forming. Axios reports that investors with backgrounds at a16z, Bessemer and Index are building a new firm.Equity is TechCrunch's flagship podcast and posts every Monday, Wednesday and Friday, and you can subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.You also can follow Equity on X and Threads, at @EquityPod.For the full interview transcript, for those who prefer reading over listening, read on, or check out our full archive of episodes over at Simplecast. Credits: Equity is hosted by TechCrunch's Alex Wilhelm and Mary Ann Azevedo. We are produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

After 23+ years in venture capital, Jeremy Levine has thrived in many eras, taking risks on now-iconic companies like LinkedIn, Shopify, Yelp, Pinterest, and more. In our discussion, Jeremy shared stories behind these investments and the mindsets he's developed along the way. We also explored how the VC landscape has evolved over the last 20 years and where the industry may head next. Plus, Jeremy shares insights from his journey into VC, along with foundational advice and principles that anyone aspiring to succeed in the industry may find valuable. Overall, an in-depth discussion for anyone who wants to nerd out on venture capital with us. (00:00) Intro(01:03) Exploring the Personal Motivations Behind Venture Capital(01:41) The Impact of Technology on Venture Capital(03:11) The Reality of Venture Capital Impact(06:45) The Ideal Venture Investment: The Donut Company Metaphor(07:30) Operator vs. Career Investor: The Best Venture Capitalists(09:57) The Dynamics of Choosing a Venture Investor(14:03) The Unique Paths to Success in Venture Capital(17:04) Authenticity and Adaptability in Venture Capital(26:33) Navigating the Complexities of Venture Capital Careers(34:11) Jeremy Levine's Journey to Bessemer Venture Partners(40:00) Navigating the Venture Capital Landscape: Insights and Strategies(40:30) The Competitive Edge in Early 2000s Venture Capital(43:26) Reflections on Career Paths and the Role of Serendipity(47:04) The Intricacies of Decision Making in Venture Capital(52:37) Evaluating Investment Opportunities: The Price Sensitivity Debate(55:22) Learning from Success and Failure: The Jet.com Story(01:08:26) The Evolution of Successful Entrepreneurs: Insights from Shopify and Yelp(01:16:22) The Strategic Advantage of Repeat Entrepreneurs in the Startup Ecosystem(01:19:38) Navigating Market Dynamics: Insights and Analogies(01:20:09) The Evolution of a Venture Capitalist: From Ideas to Impact(01:21:22) Pioneering User-Generated Content: A Venture Success Story(01:23:36) Exploring E-Commerce and the Power of Advertising(01:24:59) Innovative Investment Strategies: SaaS and Payment Processing(01:34:53) Bessemer's Legacy and Venture Capital Evolution(01:39:57) Expanding Horizons: Bessemer's Global and Diverse Investment Approach(01:52:35) Cultivating Talent and Embracing Industry Dynamics(02:02:36) Navigating Budgets and Investment Strategies in Venture Capital(02:03:55) The Importance of Accountability and Decision-Making Records(02:05:46) Investment Memo Strategies: Beyond Templates(02:08:43) The Dynamics of Voting and Decision Making in VC Firms(02:16:19) The Evolution of Venture Capital: Trends and Predictions(02:21:13) Building a Successful Venture Capital Firm: Culture and Operations(02:29:57) Mentorship and Individual Growth in Venture Capital(02:39:40) Navigating the AI Investment Landscape(02:41:36) The Debate on Announcing Funding Rounds(02:44:20) Closing Remarks  Produced: Rashad Assir & Leah ClapperMixed and edited: Justin HrabovskyExecutive Producer: Josh Machiz

Bethany Ayers is a seasoned Chief Operating Officer and has helped raise over $200m from top funds - Softbank, Bessemer, TCV, MCC, Notion and Oxx. She's built the GTM engines at Peak AI, NewVoiceMedia and Codilty. She now sits on the boards of AI companies ToffeeAM and DeepOpinion. She's a seasoned scale-up executive and strategic powerhouse. She's an advocate for women in tech and champions authenticity in leadership. She's been a CRO at numerous companies and her podcast The Operations Room, a podcast for COOs, is one that every person operating an organization needs to check out. Bethany shares with Lou that she's still trying to figure out who she wants to be when she grows up. ***CONNECT WITH LOU DIAMOND & THRIVE LOUD***

Jeff Webb, U.S. Naval Academy Class of 1995, is President and CEO of the U.S. Naval Academy Alumni Association & Foundation. Prior to assuming this role, Jeff spent 15 years in the wealth management industry. In his most recent position as a Principal with Bessemer Trust, he led new client development efforts in a four-state region. Before joining Bessemer, he served in a similar capacity with J.P. Morgan. He previously served as a vice president of Business Development for a renewable fuel company and was the general manager of a group of luxury automotive franchises in Virginia. Jeff spent five years in Naval Special Warfare. He served as a SEAL Platoon Commander as well as a Task Unit Assistant at SEAL Team Eight. He deployed twice aboard EISENHOWER in those roles and operated in Europe and the Middle East. He served as an Assistant SEAL Platoon Commander at SEAL Team Four, where he deployed to Latin America. Jeff co-founded Run to Honor, a nonprofit dedicated to perpetuating the memory of Naval Academy alumni lost in combat or training operations. He was an elected trustee of the Naval Academy Alumni Association (2011-17) and served on the Naval Academy Superintendent's Memorial Oversight Committee (2010-22). He also served as a director of Students Run Philly Style, a nonprofit that trains and mentors high-risk high school youth through the completion of endurance running events. Jeff earned a B.S. in Ocean Engineering from the Naval Academy, where he was captain of the cycling team. He later earned an M.B.A. from the University of Virginia. He is married to Shannon Revell Webb, a 2004 Naval Academy graduate and a former EOD Officer. They have four children, all named in honor of Naval Academy graduates. The Webb family resides in Annapolis.

Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.We have a conversation with Mitchell Green, Founder and Managing Partner at Lead Edge Capital. With offices in New York and Santa Barbara, the firm has over $5B in Assets under management and specializes in helping growth-stage companies scale.The firm has an interesting model that combines elements of PE, growth, and an active network of over 700 LPs to build a very powerful moat.I was really interested in several business components, especially the LP base's strategic nature and the programmatic way they evaluate companies. A word from our sponsor:Invest in innovation. Allocate allows investors to access top-tier private funds and co-investment opportunities within the technology sector.Despite the enormous growth of the private markets and the rapid increase of retail demand for private alternatives, investing in the highest quality private assets within the innovation sector still remains limited to institutions and ultra-connected high net worth individuals.With Allocate, wealth advisors, banks, family offices, and other qualified investors can have a streamlined way to responsibly invest with confidence.Go to allocate.co to find out more and please sign up to the waitlist to learn more and get early access to the platform.About Mitchell Green:Mitchell Green is the Founder and Managing Partner at Lead Edge Capital, a $5B growth equity firm investing in software, internet, and tech-enabled services businesses globally. Mitchell oversees the fund's global activities and has led several of the fund's largest investments, including Alibaba Group, Asana, Bumble, FIGS, Grafana, SignalSciences, Spotify, Toast, Uber, and Wise. His career began with roles on the investment teams at Bessemer Venture Partners and Eastern Advisors. Mitchell is a former nationally ranked alpine ski racer and currently serves on the boards of the U.S. Ski & Snowboard Foundation and the Laguna Blanca School in Santa Barbara, CA.Mitchell holds a B.A. in Economics from Williams College and an M.B.A. in Marketing from the Wharton School at the University of Pennsylvania.In this episode, we discuss:(01:38) Shares the origin story of Lead Edge Capital, reflecting on the early experiences before 2009, and the influence of Bessemer's deal-sourcing approach of cold calling and direct outreach.(09:57) The value of being his own boss and learning from failures(12:35) Building a team for outbound cold calling to find unique investment opportunities.(15:27) Leveraging LPs in the due diligence process for valuable insights and validation of potential investments(17:21) Creating a community among LPs where engagement and assistance are core expectations(20:55) The resilience and opportunistic nature of high-net-worth individuals during market downturns(21:59) The "moneyball" approach to investment criteria, prioritizing revenue, growth, gross margins, and capital efficiency(26:00) A success story of investing in a rapidly growing, COVID-enabled electronic signatures company(30:32) Many companies raising venture capital should not exist(36:09) The need for persistence to get into the best companies(38:57) Trusting your instincts and the strategic advantage of being contrarian in investmentI'd love to know what you took away from this conversation with Mitchell. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com

Adam Fisher is a Partner @ Bessemer Venture Partners and one of the most successful investors in Israel over the last two decades with seed investments in Fiverr, Wix, Melio, HiBob and more. Adam has now made over 60 investments and has had an incredible 23 successful exits. Adam has now been in venture for over 27 years having started his career at Jerusalem Venture Partners in 1996. In Today's Episode with Adam Fisher We Discuss: 1. Lessons from 27 Years in Venture Capital: How did Adam first make his way into the world of venture straight out of college? Does Adam agree with Doug Leone that VC has changed from a "boutique, high margin business to a commoditized, low margin industry"? What does Adam know now that he wishes he had known when he started in venture? 2. How to Pick Winners: 23 Exits in 60 Investments: To what extent does Adam think pattern recognition is a good thing? When is it bad? Does Adam prefer to invest in outsider founders approaching a problem with fresh eyes or insider founders who know the problem back to front? Why does Adam believe that "category creation is BS"? Why does Adam not like to invest in big, hugely ambitious markets? Why are smaller markets best? 3. The Deal: Mastering the Art of Negotiation and the Deal: How does Adam reflect on his own relationship to price? When doing an investment, does Adam think about who would do the next round? How important is ownership to Adam? Does he want it all on first check? Why does Adam not like to invest in hot AI rounds? What have been Adam's single biggest investing mistakes? How did it change his approach? 4. Mastering the Art of Portfolio Management: Why does Adam believe that it is impossible to know which of your portfolio will be the breakout winners early on? How does Adam approach reserve allocations with this in mind? How does Adam know when is the right time to sell a position? What does Adam believe was the biggest sin of the zero interest rate environment period?