Podcast appearances and mentions of Matt Cohen

Welcome back to another electrifying episode of Tank Talks! Matt Cohen is joined once again by John Ruffolo to unpack the latest economic and technological headlines. From Canada's growing role in global AI and energy discussions to the latest shifts in public-private partnerships, this episode is packed with high-stakes insights and forward-thinking analysis.Is Canada ready to lead the charge in AI and quantum technology? Can the nation address its looming energy challenges and secure a sustainable economic future? Tune in for an exploration of these questions and more!G7 Summit & Canada's Global Position: A Race for AI Leadership (00:14)The G7 Summit in Alberta saw world leaders make bold commitments to AI and quantum technology, with Canada front and center. But how realistic are these promises? Matt and John dive into the challenges and opportunities ahead as Canada seeks to secure its place as a global leader in innovation and technology.AI Investment and Quantum Computing: Is Canada Ready to Step Up? (00:40)The G7 has pledged $185 million towards AI and quantum growth, but John has concerns about the scale and execution of these investments. Will this funding truly move the needle, or is it just more talk without follow-through? John discusses whether Canada has the right strategy to dominate in these transformative technologies.Energy Challenges: Canada's Struggle for Economic Resilience (03:30)Energy remains Canada's Achilles' heel. As global markets shift and environmental concerns grow, John breaks down Canada's struggle to address its energy needs while maintaining environmental responsibility. How can Canada secure its energy future in a politically and environmentally charged landscape? The conversation digs into what needs to change for the country to thrive.Open Banking: Canada's Slow Progress and Risk of Falling Behind (06:05)Despite promises, Canada is still stumbling on the road to open banking. With no concrete timeline in place, John and Matt discuss the latest developments and why Canada risks falling behind other fintech hubs like the U.S. and the UK. Is Canada's fintech future in peril, or is there hope for change on the horizon?Public-Private Partnerships in AI: A Game-Changer for Canada's Economy? (08:47)Cohere's new partnership with the Canadian and UK governments is raising the stakes for AI innovation in the public sector. As AI gains ground in government services, Matt and John examine how this public-private collaboration could shape Canada's economic future. Are these partnerships the key to unlocking Canada's AI potential?Meta's AI Bet: Is Zuckerberg Playing Catch-Up or Leading the Charge? (14:32)Mark Zuckerberg is throwing down big bets in AI, offering hefty signing bonuses and investing $14 billion into Scale AI. But is this a desperate attempt to catch up with rivals like OpenAI, or a strategic move to solidify Meta's position at the forefront of AI? Matt and John analyze the implications of Zuckerberg's moves and what they mean for Meta's future.Investment Shifts: VC Fund Performance and What It Means for the Tech Landscape (20:01)The latest data on VC fund performance reveals some stark realities. While TVPI (Total Value to Paid-in Capital) shows some life, DPI (Distributions to Paid-in Capital) is still scarce. John and Matt dive into the numbers and discuss what this means for investors, founders, and the future of venture capitalAs global dynamics shift, Canada's role in AI, energy, and investment will be tested like never before. Can the country capitalize on its technological opportunities, or will it get left behind? This episode is a must-listen for anyone interested in understanding how these shifts will shape the future of business, technology, and global leadership.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, Matt Cohen chats with Ryan Gariepy, CTO and Co-Founder of Clearpath Robotics, on how a garage project from four Waterloo grads turned into one of Canada's biggest deep tech exits. Ryan takes us behind the scenes of Clearpath's $600M acquisition by Rockwell Automation and the company's journey from building robots for researchers to dominating the autonomous mobile robot (AMR) space.The conversation covers building during a hardware-unfriendly time, the harsh realities of supply chains, the open-source bet that changed robotics, and what it really feels like to pitch in a room of 50+ Rockwell execs. Ryan also breaks down why humanoid robots are still far off, the evolution of talent in robotics, and how Canada can stay in the game. A must-listen for anyone building in frontier tech, hard tech, or just trying to scale something real.Garage to Global Robotics Platform (00:00:49)* Building Clearpath as a first job out of university* From LEGO and sci-fi to industrial-grade robots* “We didn't incorporate until we sold our first piece of vaporware.”* Early clients and funding in a post-2008 downturnFinding Product-Market Fit in Robotics (00:07:22)* Observing where researchers were getting bored and the industry was getting excited* Why they skipped the self-driving car race and focused on logistics* Clearpath's strategic bets: industrial automation, mining, and inventory trackingThe Role of Strategic Investors (00:10:00)* Caterpillar, GE, and Hyundai backed Clearpath with market-aligned capital* “They were bought into the vision before the checks were written.”The Rockwell Deal: Behind the $600M Exit (00:10:48)* Term sheet to close in five months: “It felt like an eternity.”* Surviving a 50-person technical due diligence call* Lessons from being tested by Fortune 500 execs: “I'm proud I made it through.”* On integration: "Separate your identity from your company early, it helps."Post-Acquisition Life and Scaling with Rockwell (00:16:16)* Transitioning from founder to employee* How joining Rockwell offered the scale Clearpath couldn't build alone* The upside of collaborating with seasoned technical leadersROS, Open Source, and the OSRA Launch (00:17:11)* Founding the Open Source Robotics Alliance* Making open-source robotics enterprise-ready* “We want people to build on reliable tools, not reinvent the wheel.”AI, Hype vs. Reality in Robotics (00:20:03)* Why LLMs aren't yet revolutionizing robot performance* Cautioning against overhyping early AI integrations* “Writing the algorithm is the easy part, everything around it is the hard part.”The Evolution of Robotic Talent (00:23:07)* From grad-school coders to cross-industry engineering pros* Production-grade code becoming the standard* The underrated value of hiring low-ego, heads-down engineers earlyLessons from Scaling Hardware Through Crisis (00:27:23)* Navigating power cable shortages during COVID* Being vertically integrated saved them barely* “Our margins took a hit, but our suppliers knew we were long-term partners.”Why Autonomy in Plants Will Win (00:34:07)* Factory robots vs. public-road self-driving cars* Simpler operational environments = faster ROI* “We already have the existence proof for factory autonomy.”The Future of Robotics (00:36:59)* Hoping for better sensors, especially depth cameras* Small, on-device AI models for better HRI (Human-Robot Interaction)* “The tech isn't quite conscious, but we're close to robots that can explain themselves.”About Ryan GariepyRyan Gariepy is the CTO and Co-Founder of Clearpath Robotics, a Waterloo-born robotics company that pioneered open-source development in autonomous mobile robots. In 2023, Clearpath was acquired for $600M USD by Rockwell Automation. Ryan is a board member of the Open Source Robotics Foundation, co-chair of the Canadian Robotics Council, and a vocal advocate for AI and robotics leadership in Canada.Connect with Ryan Gariepy on LinkedIn: https://ca.linkedin.com/in/rgariepyVisit Clearpath Robotics Website: https://clearpathrobotics.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

How do we protect the future of our profession in a rapidly evolving mental health landscape?In today's episode, I sit down with Matt Cohen, founder of PlaySpace Health, who brings a unique perspective from the world of business and innovation into the therapy room. Matt shares how his company is helping therapists reimagine engagement with young and neurodivergent clients, both virtually and in person, and what it means to build tools that truly serve therapists' needs. But our conversation doesn't stop there.Together, Matt and I explore the rise of venture capital in the mental health space and why therapists often get caught in the middle of business models that weren't built with us in mind. We talk about the undervaluing of therapists' work, the structural challenges baked into the system, and how we can step into our power as professionals, both individually and collectively.If you've ever felt the tension between your clinical values and the way therapy is being shaped by outside forces, this episode will leave you thinking about what's possible when we choose to be term-setters instead of term-takers.For a full transcript of the episode and much more, check out the blog post on our website! https://moneynutsandbolts.com/?p=18295 To watch a video version of this, check it out on YouTube: https://youtu.be/mZ_WnolYCP4 Connect with Matt CohenInstagram - https://www.instagram.com/playspace.health/ LinkedIn - https://www.linkedin.com/company/playspacehealth/posts/?feedView=all Facebook - https://www.facebook.com/playspace.health Mentioned in this episode:Want to work with Linzy?Check out the FREE masterclass, The 4 Step Framework to Getting Your Business Finances Totally in Order, where you'll learn the framework that has helped hundreds of therapists go from money confusion and shame to calm and confidence, as well as the three biggest financial mistakes that therapists make. At the end, you'll be invited to join Money Skills for Therapists and get Linzy's support in getting your finances finally working for you. Click on the link to find a masterclass time that works for you! Register for Linzy's Free MasterclassCheck Out Relay for Business BankingStay calm and in control of your private practice finances when you sign up with Relay, my go-to online banking and money management platform. Plus, if you use my link, you'll get a $50 sign up bonus once you fund your account. *Sign Up for Relay

In this episode of Tank Talks, we delve into the grassroots movement that's turning heads across Canada's innovation ecosystem: Toronto Tech Week. Joining us are two of the powerhouse organizers behind the festival: Julia Baird of Golden Ventures and Taha Hossain of Daybreak Studio. With Collision saying goodbye to Toronto, Julia and Taha stepped up to fill the void, co-creating a decentralized, nonprofit, and radically inclusive tech festival that's rallying an entire city.From organizing 200+ events across 24 neighbourhoods to collaborating with giants like Shopify and Google Cloud, Julia and Taha break down how Toronto Tech Week came to life, what makes it truly different from traditional tech conferences, and why it matters so much to Canada's next generation of founders, investors, and builders.* What's the future of community in tech?* How do you run a 5-day, 200+ event festival without a central committee?* Can a city-scale tech festival really be open-source and inclusive?How Toronto Tech Week Was Born (00:02:37)* Why Collision's exit left more than just a calendar gap* The spontaneous conversations that sparked a movement* What it took to rally 40+ early partners and full-city supportDecentralized by Design: What Makes This Festival Different (00:04:50)* The open-source structure and why it works* Student-led, VC-supported, builder-run: a new way to “conference”* Why side events became the main eventSocial Media & The Rise of Momentum (00:08:50)* How Toby Lutke, Twitter, and memes helped launch the idea* Rallying the community with retro vibes and real voices* Why the diversity of events is by design, not accidentDesigning the Streetcar-Inspired Website (00:11:13)* Taha's inspiration from his Toronto commute* Gamifying city navigation with local flavour* How retro tech, TTC lines, and nostalgia created an authentic experienceLogistics of a 24-Neighbourhood Tech Week (00:17:44)* The hidden support of the City of Toronto* Navigating across the city on foot, by bike, or by subway* Why decentralization adds to the magicBuilding a Global Platform from a Local Base (00:25:08)* How CDL and other partners brought international attention* The snowball effect of global participation* Why leaders like ​Chamath Palihapitiya, Geoffrey Hinton & Harley Finkelstein matterWhat to Expect: From Hinton to Homecoming (00:17:44)* Previewing the biggest events, from BetaKit Town Hall to Netflix's CTO* What excites Julia and Taha most on the calendar* How every community, from AI to CPG, is representedHosting an Event? Here's How (00:34:27)* How the event application process works* What types of events are welcomed (hint: all of them)* How organizers can tap into tools, space, and city supportThe Ripple Effects: Why This Matters (00:31:22)* Why Canadians are everywhere but rarely recognized* Why Toronto Tech Week is a "homecoming" for global talent* How this might plant seeds for the next wave of innovationAdvice for Founders & Attendees (00:35:58)* Why Toronto is the easiest place to make real friendships* What the organizers hope every visitor walks away with* How optimism and belief drive long-term impactAs cities everywhere chase the next big tech event, Toronto may have just found the blueprint: open, grassroots, volunteer-led, and deeply local. Will other ecosystems follow its lead?Toronto Tech Week is a weeklong, citywide collection of events to connect and celebrate the tech community. Happening on June 23-27, 2025, it's an open platform for anyone to join or host events to showcase Toronto globally as a city where anything is possible.About Julia BairdJulia Baird is the Head of Platform & Operations at Golden Ventures, an early-stage venture capital fund based in Toronto. She's also one of the founding organizers behind Toronto Tech Week. Julia brings deep experience supporting startups and venture ecosystems and has been instrumental in building the strategic partnerships that power this new community-first festival. When she's not coordinating 200+ events, she's championing Canadian tech talent and empowering founders to scale their impact.About Taha HossainTaha Hossain is the founder of Daybreak Studio, a design and technology studio based in Toronto that partners with high-growth startups to craft impactful brand, product, and web experiences. As one of the founding organizers of Toronto Tech Week, Taha led the creative direction behind its now-iconic streetcar-inspired website and brand identity. His work blends playful design with deep cultural context, making tech feel approachable, authentic, and unmistakably Toronto.Connect with Julia Baird on LinkedIn: https://www.linkedin.com/in/juliabaird/Connect with Taha Hossain on LinkedIn: https://www.linkedin.com/in/tahahossain/Visit the Toronto Tech Week website: https://www.torontotechweek.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to another episode of Tank Talks! This week, Matt Cohen and John Ruffolo dive deep into the economic and innovation headlines shaping Canada's future, from the shocking collapse in domestic VC funding to Bell's billion-dollar bet on AI infrastructure, and Mark Carney's latest power move that might just redefine Canadian politics.* Is Canada's startup ecosystem on life support?* What Bell's AI supercluster plan means for data sovereignty and why it might be too small, too late.* Mark Carney's political chess game: A shift to the economic right?* Jim Balsillie's warning about crypto, open banking, and the end of Canadian monetary independence.This is one episode where politics, venture capital, and emerging tech collide. Let's dive in.Vancouver's Web Summit Debut: A Promising Start, But Room to Grow (00:00:42)Matt shares his experience from Web Summit Vancouver, highlighting a surprisingly dense tech scene and global founders living in B.C., but the event suffered from a lack of promotion and branding blunders.John's take: Good signs of energy on the West Coast, but Vancouver still needs to establish itself as a recurring VC destination.Canada's VC Crisis: A System on the Brink (00:04:30)BDC and CVCA reports reveal domestic early-stage VC activity has plummeted to a five-year low. U.S. capital, once Canada's cushion, is drying up too.John's take: The system is at a critical point. Without a strong local VC backbone, Canada risks losing its tech future. The warning signs are clear and urgent.Risk-Off Era: Are VCs Getting Too Cautious? (00:08:14)Fundraising is down, LPs are nervous, and timelines are stretching. Despite great founders, Canadian VCs are playing defense, not offense.John's take: It's fear, not fundamentals. This is the exact moment when bold investing should happen. But anxiety from capital pools is paralyzing the ecosystem.Bell's AI Supercluster Gamble: Bold or Too Small? (00:12:40)Bell Canada plans six new AI data centers, but can they compete with the U.S.'s Stargate megaproject?John's take: We're betting small while others bet global. Sovereignty is good, but if we're not exporting Canadian tech to the world, we're falling behind.Jim Balsillie's Crypto Challenge: Canada Must Move or Be Left Behind (00:16:08)Balsillie urges the government to adopt open banking and stablecoins now or risk being sidelined in the new global financial order.John's take: Canada was ahead in crypto once. If we don't act now, we'll lose our influence over the next generation of monetary infrastructure.Mark Carney's First Power Move: Is the Economic Right Back in Style? (00:18:51)Carney appoints Marc-André Blanchard, ex-UN ambassador and CDPQ executive, as chief of staff. It's a clear signal he means business.John's take: This is a big-league move. Blanchard's background shows Carney is building a serious, economically focused leadership team.VC Fund Stakes on Sale: Crisis or Opportunity? (00:21:05)LPs like Yale and Harvard are dumping VC fund positions at steep discounts. Secondary market activity is exploding.John's take: It's concerning, but also an opportunity. Discounts of 60%+ could generate strong returns. Still, the pullback from emerging managers could choke off future innovation.If you're a founder, investor, or policymaker, this is essential listening. Canada is at an inflection point, and this episode helps you understand the stakes.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, Matt Cohen speaks with Terry Doyle, Managing Partner at Telus Global Ventures, about the evolving role of corporate venture capital (CVC) in business strategy. Terry discusses his path from Nokia and Microsoft to leading one of Canada's top CVC arms. With 30+ deals in 2023 and a dual “investor + customer” model, Telus is redefining how corporates fuel innovation. The conversation covers AI in emerging verticals, enterprise partnerships, and Canada's place in global tech. Founders, investors, and policy leaders alike will find actionable insights and strategic guidance throughout this episode.Terry's Unconventional Career Path (00:00:49)* From law school to Nokia's corporate development during the iPhone disruption.* Lessons from Nokia's decline: "The paranoid survive" (Andy Grove) and the dangers of engineering-centric cultures.* Transition to Microsoft pre-Satya Nadella: Pitching $400M deals in an era where "revenue below $1B wasn't reported."How Telus Builds Through Venture Capital (00:14:51)* Telus's evolution from telco to tech & services powerhouse* Over 90% of investments include commercial partnerships* Measuring ROI through value capture: “$34M in portfolio revenue last year, targeting $60M this year.”Navigating M&A and Corporate Integration (00:28:43)* Why integration, not pricing, kills most acquisitions* Founders: plan to stay 3+ years post-acquisition* The liquidity logjam: public markets are closed, valuations remain stickyAI's Vertical and Observability Revolution (00:43:00)* Why Telus is betting on vertical LLMs and AI observability tools* Applications in health, agriculture, and cybersecurity* “AI isn't a side bet, it's foundational to our product strategy.”Canada's Innovation Imperative (00:32:58)* Only 6% of Canadian corporates invest in venture (vs. 40% in the U.S.)* “If you don't like change, you're going to hate irrelevance.”* The need for more startup acquisitions, angel reinvestment, and risk tolerance from corporate leadersAbout Terry DoyleTerry Doyle is Managing Partner at Telus Global Ventures, leading strategic investments across Telus' digital health, agriculture, and AI verticals. A veteran of British Telecom, Nokia, and Microsoft, Terry has negotiated global M&A deals and now helps startups scale through Telus' commercial ecosystem. Passionate about Canadian tech, Terry is also a long-time supporter of C100 and innovation policy.Connect with Terry Doyle on LinkedIn: https://www.linkedin.com/in/doyleterryVisit Telus Global Ventures Website: https://www.telus.com/en/ventures/global-venturesConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

What does a Rabbi have to teach about patient care. A lot it turns out, as this Rabbi had 2 open heart surgeries in 8 months. He shares his story of fear, anxiety, despair and ultimately healing and gratitude. Rabbi Matt Cohen of Temple Emanu El in Orange Village, Ohio joins me on the podcast.

On this episode of Tank Talks, we sit down with Dean Brauer, co-founder of GoHenry, to explore how his revolutionary fintech startup is teaching kids financial literacy in a digital-first world. Dean takes us through his journey from South Africa to Toronto, then London, and back to Canada, highlighting how living abroad shaped his entrepreneurial mindset.Dean shares how GoHenry was born out of frustration with kids racking up charges on their parents' credit cards and how he saw the opportunity to build a fintech product that combines financial education with practical money management. GoHenry's unique approach of pairing a debit card for kids with an intuitive app has empowered millions of young users to learn about saving, spending, earning, and giving—all while giving parents the tools to guide their children responsibly.We also dive into Dean's innovative fundraising strategies, including breaking equity crowdfunding records and raising millions from parents-turned-investors. He reveals how customer loyalty and a mission-driven brand helped GoHenry scale to over 2 million users across the UK and the US.What You'll Learn in This Episode:* The inspiration behind GoHenry and why financial literacy for kids matters* How Dean navigated London's emerging tech scene in the late 2000s* The unique challenges of expanding a fintech startup internationally* Why GoHenry chose crowdfunding over traditional VC in the early days* Lessons from GoHenry's acquisition by Acorns and the strategic alignment between the two companies* Dean's practical advice for founders on maintaining balance, focus, and integrity while scaling a businessBuilding Financial Literacy for Kids (00:04:55)* How GoHenry's debit card and app teach money management* Why kids learn best by doing, and how GoHenry empowers themThe Crowdfunding Success Story (00:25:55)* How GoHenry raised $15M through customer investment* Why crowdfunding worked for GoHenry and how it built brand loyaltyNavigating International Expansion (00:35:37)* Lessons from expanding GoHenry from the UK to the US and Europe* How to balance home market stability with new market entryThe Acquisition by Acorns (00:40:09)* Why Acorns and GoHenry make the perfect pair for building financial wellness* How the acquisition strategy aligned with GoHenry's missionAdvice for Entrepreneurs (00:44:17)* Dean's “Rule of Three” for balancing family, health, and business* How maintaining integrity and authenticity helps build lasting relationshipsAbout Dean BrauerDean Brauer is the co-founder of GoHenry, a fintech platform designed to teach kids money management skills through real-world experience. Originally from South Africa, Dean's journey took him from Toronto to London, where he co-founded GoHenry and led it to become a leader in the kid-focused fintech space. Following GoHenry's acquisition by Acorns, Dean continues to inspire entrepreneurs with his practical insights on building mission-driven businesses.Connect with Dean Brauer on LinkedIn: https://www.linkedin.com/in/deanbrauer/Visit the GoHenry website: https://www.gohenry.com/uk/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen is an attorney and founder of Matt Cohen & Associates. He specializes in special education, disability rights, and human services law. He spoke to Community Voices about the history of special education laws in Illinois, challenges that schools and families face, and gives his opinion on how the dismantlement of the Department of Education would affect education and kids with disabilities. Matt also gives advice on how families of children with special needs should navigate the school system. Learn more about the resources Matt Cohen & Associates have to offer here.

Welcome back to Tank Talks! In this episode, host Matt Cohen sits down with John Ruffolo to dissect the latest turbulence in venture capital, political uncertainty, and Canada's looming economic challenges. From shrinking VC deals to a controversial budget delay, this conversation cuts through the noise to reveal what's really happening beneath the headlines.* The steepest drop in Canadian VC deal count since 2020* Seed rounds oversubscribed by U.S. funds, while Series A bars skyrocket* Growth equity freezes as Canadian LPs hunker down* The “denominator effect” myth dies in a two-week market rally* Cabinet curveballs: Tim Hodgson calms resource markets, but policy vacuum lingers* Can Ottawa really cut taxes without a budget vote?* Why investors fear 18 months of fiscal radio silenceVenture Capital in Crisis: Deals Down, Dollars Up (00:00:02)Canada's VC market showed worrying signs in Q1 2025, with just 116 deals - the lowest since 2020 (seed) and 2021 (pre-seed). While total investment held at $1.26B, this was propped up by large late-stage rounds. U.S. investors retreated, forcing startups to rely on shaky domestic funding. AI deals masked deeper weakness - excluding them, the market looked "very, very low." The data reveals growing risk aversion, particularly at early stages, threatening Canada's innovation pipeline as capital becomes increasingly concentrated in fewer, later-stage companies.John's Take: If early-stage funding collapses, innovation dies with it. We're already seeing the warning signs - fewer deals mean fewer future companies getting to Series A and beyond. The government doesn't seem to grasp how critical this pipeline is.Risk Aversion: Canada vs. U.S. (00:02:00)The U.S. market is surging, stocks rally, IPOs soar (eToro jumps 40% on debut), and capital flows despite turbulence. Canada, meanwhile, pulls back as local investors freeze while Americans dive in. The denominator effect fades as rebounding public markets revive LP confidence, unlocking fresh venture funding. Optimism returns, but risks linger beneath the rally's glow. Will momentum hold, or will volatility resurface? For now, the bulls are running, and the world is watching.John's Take: This is classic Canadian risk aversion - we pull back exactly when we should be deploying. In the U.S., they see volatility as an opportunity. Here? We see it as a reason to hide. It's economic self-sabotage.Carney's New Cabinet Sends Mixed Signals (00:11:24)Carney's cabinet shuffle has drawn scrutiny, particularly with controversial picks like Evan Solomon overseeing AI compute. Meanwhile, the budget delay, now pushed to Fall, leaves Canada without a fiscal roadmap for 18 months since the disastrous April 2024 plan. Though the government promises middle-income tax relief, the lack of legislative details fuels skepticism. Is this genuine reform or mere political theater? With uncertainty looming, critics question whether Carney's agenda can deliver.John's Take: Kicking the budget down the road is disrespectful to businesses making investment decisions. You can't claim to be pro-market while operating in a policy vacuum. This isn't governance - it's negligence.Higher Bars, Shifting Tides in Startup Funding (00:06:50)Canadian startups now face tougher Series A requirements, with investors demanding Series B-level metrics like $3M+ revenue. Meanwhile, U.S. capital is pouring into seed rounds, oversubscribing deals as American funds seek early-stage bargains. Yet the later-stage market has frozen, with growth equity drying up amid rising risk aversion. The funding landscape is increasingly polarized, hot at the seed level, brutal for scaling companies. For founders, adaptability is now the ultimate test.John's Take: The U.S. is eating our lunch because they understand something we don't - downturns create winners. While our investors panic, theirs are backing the next generation of companies. We're being outplayed at every turn.The Bottom LineJohn's Final Warning: Canada is at a crossroads. Without urgent policy fixes and a cultural shift toward risk-taking, we'll wake up in five years wondering why all our best companies moved south. The time to act was yesterday.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to another episode of Tank Talks! Host Matt Cohen is joined once again by John Ruffolo to dissect the major headlines shaping the tech and political landscapes. From Google's surprising search decline to Alberta's political maneuvers and OpenAI's evolving partnership with Microsoft, this episode delivers in-depth analysis and thought-provoking insights.Alberta's Exit Threat: Political Reality or Empty Rhetoric? (00:04:20)* In a passionate speech, Alberta Premier Danielle Smith called for significant changes, including scrapping Bill C-69 and easing pipeline restrictions. While her stance highlights Alberta's grievances over federal policies, talk of a potential referendum on separation looms large.John's take: Alberta's frustrations are rooted in a decade of feeling undervalued, but the talk of separation could harm Canada's stability on the global stage. Is this a legitimate political movement or a pressure tactic to get Ottawa's attention?OpenAI's Partnership Drama: Can Microsoft Keep Control? (00:09:36)* OpenAI's revenue-sharing deal with Microsoft faces renegotiation, as the AI giant's financial projections for 2030 are far lower than initially expected. With Microsoft holding critical infrastructure leverage, how will OpenAI balance growth aspirations with strategic partnerships?John's take: The entry of a new executive at OpenAI may signal a strategic pivot as the organization navigates both its nonprofit roots and commercial ambitions.Apple vs. Google: The Browser Battle Intensifies (00:13:45)* Apple's decision to challenge Google's default search dominance has sent shockwaves through the tech world. As the DOJ moves to bar Google from maintaining exclusivity on third-party browsers, could this spark a major shift in browser market dynamics?John's take: Apple's track record with AI has been inconsistent, but disrupting Google's foothold might be a game-changer in the long run.Is Google Losing Its Search Dominance? (00:15:09)* Google's recent sell-off raised eyebrows, fueled by statements hinting at a decline in search usage. John Ruffolo dives into the implications of Google's search being “under attack” and the strategic shifts at play. Is the rise of AI-powered alternatives like ChatGPT fundamentally altering how people search for information?John's take: Google's maneuver might be an attempt to alleviate DOJ antitrust pressure. If Google's dominance in search truly falters, what could this mean for the future of the tech giant?Education Disrupted: The AI Cheating Debate (00:16:52)* A viral article from New York Magazine claims students are increasingly using AI tools like ChatGPT to bypass traditional academic tasks. Is this cheating, or a natural evolution of how technology reshapes education?John's take: Comparing the rise of AI tools to the introduction of calculators in schools, John questions whether the educational system needs a fundamental rethink to adapt to the digital age.Investing Evolution: CO2 Opens the Doors to Smaller Investors (00:19:27)* A new fund from CO2, backed by Bezos and Dell, allows investors to contribute as little as $50,000. Is this democratization of venture capital a positive trend, or a risky dilution of strategic investment?John's take: This could signal a growing divide between massive investment conglomerates and boutique, specialized investors. Is the barbell approach to investment here to stay?Tune in to hear Matt and John's nuanced perspectives on these unfolding stories, and stay ahead in the ever-evolving world of business, technology, and policy.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, host Matt Cohen sits down with Mayuran Yogarajah, the visionary behind Index Exchange, one of Canada's most successful ad tech companies. From the early days of Casale Media to growing Index Exchange into a global powerhouse, Mayuran shares the remarkable journey of scaling a bootstrapped business in an industry dominated by tech giants. We also dive deep into his expansion into venture capital with IX Labs and the latest innovations in ad tech.The Genesis of Index Exchange (00:02:10)* How Mayuran's journey at Index Exchange started and the pivotal moments that shaped its success.* The early days of Casale Media, their transition to Index Exchange, and the world of programmatic advertising.* Overcoming the challenge of real-time bidding and how they reshaped the ad tech industry.Building a Global Ad Tech Leader (00:10:45)* From a small team to 600 employees across 16 global offices.* The growth of Index Exchange and its mission to remain independent in a highly consolidated ad tech market.* The development of header bidding technology and how it revolutionized publisher revenue generation.The Power of Transparency & Trust (00:17:30)* Mayuran's approach to maintaining trust in a highly competitive industry and the company's commitment to transparency with their Client Audit Logs.* Why clients trust Index Exchange to keep their data safe and their processes transparent, unlike larger platforms like Google and Facebook.The Rise of AI in Ad Tech (00:22:15)* How AI is reshaping the ad tech space and what it means for the future of digital advertising.* The integration of machine learning and neural nets in improving data filtering and ad serving.* How AI tools are empowering ad tech companies to scale operations with efficiency.A Bold Move into Venture Capital with IX Labs (00:30:30)* The story behind the launch of IX Labs and how it aligns with Index Exchange's mission to diversify.* Mayuran's approach to backing early-stage companies and helping scale innovation in hardware and deep tech.* The importance of building a business with solid leadership, not just solid technology.Ad Tech and the Changing Market Landscape (00:38:00)* Why Index Exchange hasn't gone public yet and how they've managed to remain agile and successful without external investment.* The impact of changing global economics, how tariffs, recession fears, and rising interest rates influence ad tech budgets and strategies.As businesses in ad tech and beyond continue to navigate the shifting landscape, they must adapt or risk falling behind. Mayuran Yogarajah and Index Exchange are leading the charge, proving that with the right mix of innovation, transparency, and a commitment to scaling sustainably, success is within reach. Will companies in the ad tech world rise to meet the challenges of an evolving digital landscape, or will they struggle to stay ahead in an era where agility, transparency, and technology define the future of advertising?About Mayuran YogarajahMayuran Yogarajah is the co-founder and leader behind Index Exchange, one of the world's leading independent ad exchanges. With over 20 years of experience in the ad tech industry, Mayuran has been pivotal in transforming Index Exchange from its humble beginnings as Casale Media to a global leader in programmatic advertising. Under his leadership, the company has pioneered industry-shifting technologies like header bidding and continues to scale globally with offices in 16 cities worldwide. Mayuran is also the driving force behind IX Labs, where he is helping venture into the world of venture capital, supporting early-stage startups in hardware and deep tech.Connect with Mayuran Yogarajah on LinkedIn: https://www.linkedin.com/in/mayuran-yogarajah/Visit the Index Exchange website: https://www.indexexchange.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to another power-packed episode of Tank Talks! Matt Cohen is once again joined by John Ruffolo to break down one of the most divisive and impactful elections in Canadian history. From Alberta's fury and NDP's collapse to the growing political alignment on tech policy, this episode peels back the layers on what just happened and what's coming next.* The shocking downfall of Jagmeet Singh and the NDP* Mark Carney's debut win and what it means for national unity* Alberta's boiling anger and the risk of Western alienation* The truth behind Microsoft's AI revenue surge and whether it's smoke and mirrors* Why tech leaders are finally seeing political alignment in OttawaElection Earthquake: Liberals Win, But is it Really a Minority? (00:02:00)Canada's 2025 federal election saw Mark Carney's Liberals clinch 169 seats, just three short of a majority. But is this really a minority government?John's take: Treat it like a majority. No one wants another election, and Carney may hold power longer than expected, possibly 12 to 24 months of clear runway. But the NDP collapse and talk of MP defections are setting the stage for high-stakes political bargaining.The NDP Implodes: Jagmeet Singh Steps Down (00:02:43)The New Democratic Party faces political extinction, just 6% of the vote and seven seats, losing official party status for the first time in decades.John's take: Expect backroom deals. Whether it's extending party status or poaching MPs, the Liberals may offer the NDP a lifeline in exchange for quiet support. But it's a risky game and could backfire with voters.Alberta's Fury: Is Western Alienation Back? (00:07:52)Premier Danielle Smith is fuming, warning that Alberta may escalate demands if its economic interests aren't prioritized. With 34 out of 37 seats going Conservative, Alberta feels ignored, again.John's take: Their frustration is justified. Ottawa's refusal to discuss pipelines or LNG is alienating a province that bankrolls the nation. If Alberta walks, Canada loses its economic engine.Tech's Policy Wish List: Capital Gains, AI, and Procurement (00:11:26)Canadian tech leaders wasted no time, issuing a post-election call to action: reform capital gains, support Canadian-built tech, and invest in AI infrastructure.John's take: The time for polite advocacy is over. With both Liberals and Conservatives aligning on major innovation policy, the opportunity for real progress has never been better, if egos don't get in the way.Surprise Unity: Liberals & Conservatives Align on Innovation (00:12:24)Despite the heated rhetoric, the two leading parties are shockingly aligned on digital strategy, immigration reform, and even open banking.John's take: There's nearly 80% overlap. Both parties want economic growth through tax relief, fast-tracked infrastructure, and internal free trade. Entrepreneurs are leading the charge, it's time politicians caught up.Microsoft's AI Playbook: Real Money or Recycled Revenue? (00:15:24)Microsoft's stock jumps as AI revenues appear to surge, but is it genuine growth or just a repackaged Office 365 price hike?John's take: Be skeptical. Most of the new revenue might just be legacy SaaS customers forced into higher prices. Until there's clear evidence of fresh, net-new AI revenue, it's mostly smart marketing.The AI Gold Rush: Are Startups Actually Winning? (00:18:12)John questions whether AI startups are truly reaping rewards or just helping Big Tech inflate its margins. And with hyperscalers spending tens of billions, pressure is mounting to prove the returns are real.John's take: Don't confuse exploratory pilot projects with actual adoption. Many corporates are still in “test mode,” and unless startups can prove long-term value, they risk getting left behind in an AI bubble.As Canada redefines its political and economic future, this episode offers unfiltered insights into what's really going on in Ottawa, Alberta, and Silicon Valley North. If you're a founder, investor, or policy leader, this is essential listening.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to Tank Talks! Host Matt Cohen is back with the one and only John Ruffolo in another no-holds-barred news rundown from the frontlines of business, tech, and politics. With Canada barreling toward an election that could reshape its economic future, and global giants like Google facing legal evisceration, this episode is packed with jaw-dropping insights.* Why the Canadian election might deliver another political deadlock and why that terrifies investors.* The secret behind Google's looming breakup and OpenAI's wild move to snag Chrome.* Inside the AI shell game: How Ottawa's $2B bet could be more smoke than fire.* Rising gold, crashing confidence: Is Bitcoin back or are the gold bugs winning?Platforms vs. Reality: Are Politicians Just Rearranging Deck Chairs? (00:03:25)Matt and John break down the policy platforms with brutal honesty, from fantasyland deficit projections to a tax-and-build housing bonanza that may never materialize.John's take: Liberal spending assumptions are based on fantasy GDP projections. Meanwhile, conservative tax relief and entrepreneurial support feel more grounded but still beg the question, “Where's the execution?”AI Reallocations or Just a Shell Game? (00:08:04)The $2 billion AI investment promised by the Liberals is under scrutiny. The Conservatives say it's a reallocation, not a cut, but John isn't sold on the ROI.John's take: Ottawa's indiscriminate tech funding might be helping foreign giants more than Canadian innovators. Real results will only come from supporting homegrown ecosystems, not flashy line items.Google Breakup Incoming? OpenAI Eyes Chrome (00:14:00)A U.S. court just found Google guilty again, this time for monopolizing ad tech. The breakup buzz is real, and OpenAI is already circling Chrome like a hawk.John's take: This antitrust reckoning is 10 years late. Chrome is key to Google's dominance, but the real threat may now be Gen Z's shift to LLM-powered search. The disruption has already begun.Sell Everything U.S.? Global Rotation or False Alarm? (00:17:25)Markets are jittery. U.S. equities are underperforming. International funds are surging. Is this the start of a broader retreat from the American financial engine?John's take: If the U.S. wobbles, where do you go? The answer might be gold, Bitcoin, or both. As fiat faith erodes, the store-of-value debate is back with a vengeance.Gold vs. Bitcoin: The Great Store-of-Value Showdown (00:18:37)Gold is soaring. Bitcoin bugs are stirring. With the U.S. dollar under pressure and investors fleeing uncertainty, we might be entering a new age of alternative assets.John's take: Gold's silent resilience is paying off again. Meanwhile, Bitcoin maxis are rallying, but in the debate? Gold is taking the lead.In a world of broken platforms, fiscal illusions, and rising geopolitical chaos, this episode is a crash course in the new rules of money, tech, and power.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to Tank Talks! In this episode, host Matt Cohen is joined by John Ruffolo for another high-voltage rundown of the most urgent headlines at the intersection of business, politics, and innovation. As Canada stares down the barrel of a snap federal election and the U.S. economy teeters on a razor's edge, this episode is all about decoding the chaos.* Can Canada avoid a recession as political gridlock looms?* Will U.S. economic volatility derail global investment?* What happens when tech titans like Musk and Dorsey call for the end of intellectual property law?From capital gains clashes and cross-border tax traps to TikTok-fueled counterfeits and China's IP free-for-all, this conversation goes deep into the geopolitical and economic fault lines shaping our future.Election Whiplash: Personality Over Policy (00:01:00)With Canada's snap election just days away, John and Matt unpack the shift from hard policy debate to emotional brand politics. Despite mounting economic concerns like productivity slumps, unaffordable housing, and rising interest rates, voters seem more fixated on the personalities of frontrunners Mark Carney and Pierre Poilievre.John's take: We may be headed toward a minority government, but the real issue is voter apathy. If younger voters don't turn up, expect unpredictable outcomes. Meanwhile, the debates are muddying policy distinctions, making this more of a popularity contest than a strategic vote.Tax Turbulence: Capital Gains and Cross-Border Chaos (00:04:00)Capital gains are back in the spotlight on both sides of the border. In Canada, competing parties offer conflicting visions on taxation. But south of the border, new U.S. proposals could triple taxes on Canadian investors holding U.S. assets.John's take: Canada's assumption that U.S. Democrats would win and raise capital gains taxes might backfire. If Republicans take over and slash taxes instead, Canada's competitiveness could tank. The stakes? Talent flight, diminished foreign investment, and a harsh wake-up call for young Canadians evaluating life abroad.Trump, Tariffs, and the Trade War Ripple Effect (00:07:31)Trump's tariff spree continues to rattle markets. Mixed signals and shifting policies have left Canada and much of the world scrambling for economic footing.John's take: Canada has been over-indexing on Trump rather than addressing its domestic weaknesses. Blaming external forces won't fix structural problems like low productivity and weak innovation infrastructure.Recession Realities: Brace for Impact (00:11:50)With interest rates climbing and the bond market flashing red, John paints a sobering picture: a Canadian recession is not just likely, it's imminent. But not all is doom and gloom.John's take: Recessions are where great companies are made. The key is balance sheet strength and a strategy to gain market share, even at the cost of short-term profits. It's survival of the most prepared.Fear vs. Opportunity: Investing Amid Uncertainty (00:13:00)Despite market jitters, John's firm is busier than ever. He sees opportunity in volatility, just not for the faint of heart.John's take: Most people freeze in a downturn. That's a mistake. Investors and founders need to think like race car drivers, slow down strategically, but stay ready to accelerate when the track clears.The IP Debate Goes Nuclear: Musk & Dorsey Speak Out (00:17:00)In a viral exchange, Jack Dorsey and Elon Musk call for the abolishing of intellectual property laws. They argue IP stifles creativity and prioritizes lawsuits over innovation.John's take: While the system needs reform, scrapping IP entirely is extreme. Protection encourages R&D, especially for startups. The real threat? Patent trolls and uneven enforcement that favors deep-pocketed players.The Counterfeit Tsunami and China's Rule-of-Law Rebellion (00:20:50)From luxury bags to Tesla knockoffs, China's casual relationship with IP law is costing Western economies over $600 billion annually. And the stakes are rising.John's take: The U.S. once stood as a beacon for rule-based trade. Now, it's playing the same unpredictable game as China. Without global cooperation, the IP battlefield could become a free-for-all, and that's dangerous for everyone, especially startups.As elections, tariffs, and tech wars reshape the global economy, this episode is your essential guide to what's coming and how to prepare. Whether you're a founder, policymaker, or investor trying to read the tea leaves, John and Matt deliver the no-nonsense insight you won't find anywhere else.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to another hard-hitting news roundup on Tank Talks! Host Matt Cohen is joined once again by John Ruffolo to unpack the economic tremors shaking North America. From Trump's tariff war and its looming consequences for Canada, to Toby Lutke's bold AI ultimatum at Shopify, this episode is a masterclass in high-stakes business, politics, and innovation.* Will Trump's economic war trigger a global market meltdown?* Why John Ruffolo says stagflation is now a real and terrifying threat for the U.S.* Canada's recession warning: Why this election may determine its economic fate.* The open letter shaking up Ottawa: What 150 Canadian tech leaders want to see from party leaders.* Toby Lutke's AI revolution at Shopify and why it's a wake-up call for every CEO.* The dark side of AI hype: How one founder allegedly duped investors with fake automation.U.S. on the Brink: Trump's Trade War Fallout (00:02:00)* Trump's reciprocal tariffs are back, and global markets are reacting with volatility.* China appears to be offloading U.S. assets, triggering a bond market selloff and pushing interest rates higher.* The big fear: stagflation, as inflation rises while growth slows and debt becomes harder to manage.John Ruffolo's Take:John sees this move as poorly executed and dangerously short-sighted. What could've been a calculated economic strategy has turned into global chaos. The lack of nuance and timing has undermined investor confidence, and John believes this could accelerate a stagflation crisis with long-lasting damage to U.S. economic credibility.Canada's Economic Crossroads: Recession Ahead? (00:09:00)* The Bank of Canada is expected to cut interest rates again to ease mounting pressure on consumers and businesses.* Ontario's auto sector is at serious risk, with ripple effects across the broader Canadian economy.* 75% of Canada's exports go to the U.S., making the country highly vulnerable to Trump's tariffs.John Ruffolo's Take:John believes Canada is headed straight for a recession and warns that the country has ignored economic fragility for far too long. He argues that domestic production has been hollowed out, and the only way forward is to embrace economic nationalism, support Canadian entrepreneurship, and build self-reliant industries, starting with our natural resources.Canada's Innovation Wake-Up Call: 150 Tech CEOs Demand Action (00:18:00)* The Council of Canadian Innovators released an open letter signed by 150 CEOs demanding action on economic sovereignty and innovation policy.* Key demands: protect Canadian data, support domestic tech companies through procurement, and end subsidies to foreign-owned competitors.* Political leaders are finally listening, but will it translate into post-election results?John Ruffolo's Take:John has been calling for these reforms for nearly a decade, and for the first time, he feels there's real momentum. He credits growing public awareness for the shift but stresses that this can't just be a campaign talking point. Real action, especially around digital sovereignty and government procurement, is long overdue.Shopify's AI Mandate: Innovate or Get Left Behind (00:22:00)* Shopify CEO Toby Lutke announces a bold internal policy: AI adoption is now mandatory for all employees.* Workers must prove that AI can't solve their problems before requesting additional resources.* Performance reviews will include AI usage as a key metric.John Ruffolo's Take:John applauds Shopify's move as the kind of leadership every company needs to adopt. With shrinking workforces and rising expectations, he says companies must shift from growing headcount to growing productivity. AI isn't just a competitive advantage, it's a survival requirement, and Shopify is setting the new standard.AI Smoke & Mirrors: Startup Scandal Exposes Industry Hype (00:25:00)* Fintech startup Nate raised $50M pitching an AI-powered shopping app, but it was secretly powered by manual labor in the Philippines.* The founder is now facing fraud charges after misleading investors about automation levels.* This may be the tip of the iceberg as AI hype continues to outpace reality.John Ruffolo's Take:John isn't surprised and believes this is just the beginning. In the rush to back anything labeled “AI,” many investors skipped proper diligence. He warns that more AI fraud cases are likely to emerge, especially in startups that overpromise automation without the infrastructure to deliver it.As global markets face volatility, Canada wrestles with recession fears, and AI adoption accelerates across industries, this episode lays bare the urgent challenges and opportunities ahead. Whether you're an investor, founder, or policymaker, this is a must-listen deep dive into the forces reshaping our economic future.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://www.linkedin.com/in/matt-cohen1/Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, we dive into one of the most significant shifts happening in tech right now: the rise of AI agents.Our guest, Adam Coccari, has a front-row seat to the AI transformation as the Managing Director of HubSpot Ventures. But what makes Adam's story so compelling is how it began, not in boardrooms, but in a classroom, teaching 4th-grade math. From building an educational gaming app with no tech background to helping launch Microsoft's venture fund, Adam's journey is anything but typical.We explore why agentic AI is reshaping how work gets done, which sectors are already feeling the shift, and how founders can build winning SaaS companies without bloated teams or massive rounds. Adam breaks down what separates lasting startups from hype-fueled flashes and shares tactical advice for early-stage founders navigating the AI-powered future of business.From Teacher to Tech: Adam's Unusual Path to Venture (00:01:54)* Why building a math app for kids led Adam into tech* Lessons from the classroom that still shape his leadership today* How “Math Evolve” became a top-ranked game and what went wrongCloud, AI & Lessons from Microsoft (00:09:07)* What Adam learned working on Azure before it was cool* How B2B sales, marketing ops, and funnels really work* The early power of machine learning in enterprise use casesInside Corporate VC and the M12 Playbook (00:11:59)* What most corporate venture arms get wrong* Why being “just strategic” isn't enough anymore* How M12's independent structure helped them win dealsWhy Agentic AI Is Having Its Moment (00:21:46)* What makes AI agents different from traditional automation* Why back-office work is ground zero for agentic disruption* Real examples in bookkeeping, AR, customer service, and moreBuilding AI SaaS in 2025: What Founders Need to Know (00:24:31)* The rise of vertical SaaS powered by AI* What “experimental ARR” means and how to see through it* Why speed, execution, and domain knowledge beat scaleHow Startups Should Think About Go-To-Market (00:27:10)* Why PLG-first startups may scale to enterprise better than top-down players* What metrics actually matter in early-stage AI SaaS* Why a 3-person team can now do what used to take 30What Investors Are Looking For Now (00:34:08)* What Adam really looks for in AI founders* How he spots resilience, vision, and product intuition early* Why founder-market fit is more important than everPartnering, Platforms & Navigating Corp Dev (00:41:28)* The truth about working with big platforms as a startup* How to think about M&A as a long-term signal, not a strategy* Why transparency and trust still matter in the AI eraThis isn't just another AI hype episode. It's a real look into how work, software, and venture are changing fast. As AI rapidly reshapes how businesses operate, startups and incumbents alike stand at a crossroads: adapt or fall behind. Adam Coccari makes it clear: Agentic AI isn't on the horizon; it's already here, transforming how teams handle back-office tasks, optimize workflows, and scale faster with less. The question is: will companies embrace AI as a force multiplier, or get left behind in an era where agents don't just assist, they execute?About Adam CoccariAdam Coccari is the Managing Director of HubSpot Ventures, where he leads investments in early-stage SaaS and AI startups. He was previously a founding member of Microsoft's M12 venture arm and led venture efforts at Intuit. Adam began his career as a math and technology teacher, where he created the hit educational app Math Evolve, featured globally by Apple.Today, he focuses on backing bold founders building AI-native applications, with a special eye on agentic workflows, vertical SaaS, and B2B automation. His mix of product intuition, startup empathy, and platform strategy makes him one of the most thoughtful voices at the intersection of SaaS and AI.Connect with Adam Coccari: https://www.linkedin.com/in/adam-coccari-9932a134Visit the HubSpot website: https://www.hubspot.com/venturesConnect with Matt Cohen: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, we sit down with Dan Debow, serial entrepreneur and former Shopify executive, along with returning guest and venture powerhouse John Ruffolo, for an unfiltered conversation about the intersection of innovation, public policy, and Canada's economic future.Fresh off his launch of Build Canada, Dan opens up about the real reasons he left Shopify, why Canadian entrepreneurs are stepping into the policy arena, and what it's really going to take to grow GDP and national prosperity in a fast-changing world. Along the way, he reflects on his journey building Workbrain, Rypple, and Helpful, and scaling inside giants like Salesforce and Shopify.Is Canada ready to compete in the next wave of global innovation? What's broken in our approach to growth—and how do we fix it? What's driving entrepreneurs to dive into politics and policy?Canada's Innovation Journey: From Workbrain to Build Canada (00:02:00)* Dan's origin story: law school, business school, and falling into entrepreneurship with David Ossip* The early days of Toronto tech—from suburban enterprise software to downtown demo camps* How mesh conference, StartupNorth, and CDL shaped Canada's tech communityCycles of Tech: Hype, Troughs, and the Next Big Shift (00:08:00)* Where we are in the AI, crypto, and innovation hype cycles* Why downturns are fertile ground for builders—not just tourists* The rise of low-cost tools, global access, and the democratization of entrepreneurshipWhy Entrepreneurs Are Entering the Policy Arena (00:14:00)* The real story behind Dan's departure from Shopify* What sparked Build Canada—and why it's more than a “tech bro” think tank* Why policy and entrepreneurship can no longer live in separate silosWhat Is Build Canada, Really? (00:20:00)* The memo process: how ideas turn into actionable policy* Why it's not just for tech—housing, energy, and pipelines are in the mix* How entrepreneurs are pushing to shift the Overton window with bold, constructive ideasThe False Divide: Tech vs. Everyone Else (00:23:00)* Why the concept of a “tech industry” is outdated* Every sector is becoming a tech-enabled sector—Canada needs to catch up* How entrepreneurs can bring startup-style thinking into national progressGrowth, GDP, and the Real Incentives Behind Build Canada (00:29:00)* No hidden agendas: why patriotism—not profit—is driving this movement* The connection between economic growth and social progress* Why now is a defining moment for Canada's future competitivenessWhat's Next for Canada's Innovation Economy? (00:36:00)* The upcoming election and why it matters for builders* How Build Canada is influencing real policy conversations already* Tools, debates, and what you can do to join the movementAs Canada's economic future hangs in the balance, Dan Debow and John Ruffolo make a powerful case: it's time for the builders to step up—not just in startups, but in shaping the very fabric of our country. Growth isn't a dirty word. It's the foundation for everything else we care about. Will Canada embrace a new generation of entrepreneur-led leadership, or keep playing by old rules in a new world?About Dan DebowDan Debow is a serial entrepreneur, investor, and tech executive who's played a pivotal role in shaping Canada's innovation ecosystem. He was a founder of Workbrain (acquired for $227M), co-founder of Rypple (acquired by Salesforce), and co-founder of Helpful (acquired by Shopify), where he went on to serve as a senior executive for six years. He's also an active early-stage investor, mentor, and policy advocate.Now, Dan is one of the driving forces behind Build Canada—a grassroots policy initiative aimed at reimagining how Canada can unlock its growth potential by putting builders at the heart of national decision-making. Beyond tech and policy, Dan is also a passionate musician and co-founder of Bonfire Collective, a non-profit supporting Canada's creative communities.Connect with Dan Debow: https://ca.linkedin.com/in/ddebowLearn more about Build Canada: https://www.buildcanada.com/Connect with Matt Cohen: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

On this episode of Tank Talks, Matt Cohen sits down with Michael Garrity, Executive Chair and Founder of Financeit, alongside recurring guest, John Ruffolo. Michael shares his unconventional journey—from growing up in remote Canada to navigating the world of venture capital, fintech, and regulatory battles. He reveals how he pivoted CommunityLend after facing regulatory roadblocks, ultimately transforming it into Financeit, which became Canada's largest point-of-sale lender for home improvement.We also dive into:* The hard lessons of scaling a fintech company* How Goldman Sachs' investment changed Financeit's trajectory (and the tough call that put the company up for sale)* Why Canada needs better fintech regulations and open banking policies* How tariffs, economic shifts, and political uncertainty are reshaping the fintech industry* The resilience required to build and scale a successful business in CanadaMichael Garrity's Journey from Politics to Fintech (00:01:00)* How growing up in Northern Canada shaped his entrepreneurial mindset* His unexpected path into venture capital and fintech* What he learned from early-stage investing and Canada's labor-sponsored fundsThe CommunityLend Pivot: How Failure Led to a Billion-Dollar Business (00:05:00)* Why Canada's financial regulators blocked his first fintech startup* The painful decision to pivot away from peer-to-peer lending* How FinanceIt found product-market fit and scaled rapidlyWinning in Fintech: What It Takes to Build a Market Leader (00:12:00)* The strategic acquisition of TD's home improvement lending business* How partnering with Goldman Sachs helped Financeit scale* The biggest mistakes founders make when raising capital from big-name investorsThe Future of Fintech & Canada's Economic Challenges (00:25:00)* Why Canada's regulatory environment is stifling innovation* How tariffs, inflation, and deglobalization are impacting Canadian businesses* Why open banking is critical for fintech growth in CanadaMichael's Advice for Founders & Leaders (00:40:00)* Why the best founders have grit and adaptability* How to navigate industry shakeups and market downturns* Why trust, relationships, and strategic pivots matter more than everAs Canada navigates economic uncertainty, fintech disruption, and regulatory battles, founders must adapt or risk being left behind. Michael Garrity's story proves that persistence, strategic thinking, and a willingness to pivot are the keys to building a billion-dollar business. Will Canada's fintech ecosystem rise to the challenge, or will regulatory roadblocks continue to hold it back?About Michael GarrityMichael Garrity is the Executive Chair and Founder of Financeit, a leading point-of-sale financing platform for home improvement projects in Canada.Michael is a seasoned fintech entrepreneur who has built and scaled multiple financial technology businesses. His journey began in venture capital and early-stage investing, where he worked on Canada's early labor-sponsored investment funds. He later co-founded CommunityLend, a peer-to-peer lending marketplace that faced regulatory challenges—leading to a high-stakes pivot that ultimately resulted in FinanceIt.Under Michael's leadership, FinanceIt grew into Canada's dominant home improvement lender, with billions in loan originations and major financial backers, including Goldman Sachs. Today, he continues to shape the industry while advocating for open banking and smarter fintech regulations.Follow Michael Garrity on LinkedIn: https://linkedin.com/in/michael-garrity-7a87152Visit Financeit's website: https://www.financeit.io/Subscribe to our YouTube channel: https://www.youtube.com/@thetanktalkspodcastFollow Matt Cohen on LinkedIn: https://linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Welcome back to another thought-provoking episode of Tank Talks! Matt Cohen sits down with John Ruffolo to dissect the most pressing developments in tech, finance, and AI. From major banking shifts to the evolving landscape of AI-driven SEO, this episode delivers sharp insights and expert analysis you won't want to miss.* The Bank of Canada's latest interest rate cut—will it actually help the economy?* The power shift in Canadian banking: What CIBC's CEO transition means for the future.* Open banking and AI's role in reshaping the financial landscape.* The rapid rise of AI-driven SEO—how companies are optimizing for large language models.* CoreWeave's massive IPO plans and why John Ruffolo sees echoes of the Nortel bubble.* The brewing U.S.-EU trade war—why Trump's tariff threats could hit Canadian businesses harder than expected.Canada's Banking Future: CIBC's Big Shift (00:04:00)* Victor Dodig steps down as CIBC CEO after 11 years, handing over to Harry Cullum, a capital markets veteran.* The big question: Can Cullum lead CIBC into the digital era, or will traditional banks struggle to keep up with fintech and AI-powered banking?* Why open banking is no longer a threat, but an opportunity for Canada's biggest banks.John Ruffolo's Take:John sees Cullum as a strong leader with deep expertise in digital banking, positioning him well for the transition. However, he warns that legacy banks must move quickly to stay competitive as fintech innovation accelerates, or risk falling behind in a rapidly evolving financial landscape.AI's SEO Revolution: The Future of Search (00:10:00)* Companies are now optimizing for AI models, not just Google Search.* Mercury and Vercel are already seeing significant growth in inbound leads from large language models.* The big shift: Instead of backlinks and keywords, companies are feeding training data directly into AI models.CoreWeave's Billion-Dollar Bet: Nortel 2.0? (00:14:00)* CoreWeave, an AI-focused cloud company, is skyrocketing in valuation—going from $16 million in revenue to $1.9 billion in just two years.* NVIDIA and Microsoft are heavily invested—so what happens if they pull the plug?* Is CoreWeave truly innovative, or just benefiting from excess GPU capacity?John Ruffolo's Take:"This reminds me way too much of Nortel in the late ‘90s. They pumped up revenue, but it was all based on unsustainable deals. Watch this one carefully."As AI reshapes industries, banking undergoes major leadership shifts, and companies scramble to adapt to new digital landscapes, the stakes have never been higher. Will traditional banks successfully embrace open banking and digital transformation, or will fintech disruptors take the lead? Can AI-driven SEO remain a competitive advantage, or will regulators step in to level the playing field? And as CoreWeave pushes toward its high-stakes IPO, is this the beginning of a new tech revolution, or a repeat of past market bubbles? The coming months will reveal whether these trends signal long-term shifts—or short-lived hype. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

On this episode of Tank Talks, Matt Cohen sits down with Daniel Saks, co-founder of AppDirect and now CEO & co-founder of Landbase, to explore the explosive rise of AI-powered go-to-market strategies. Fresh off a $12.5M seed round, Daniel reveals how Agentic AI is transforming B2B sales and marketing, the key lessons he learned from scaling AppDirect, and what it really takes to build a category-defining company.* What does it take to build a billion-dollar SaaS company?* How is AI reshaping the future of sales and marketing?* Why do some entrepreneurs thrive while others struggle to scale?The Rise of AI in Sales & Marketing (00:02:00)* How Landbase is redefining B2B sales with Agentic AI* Why traditional lead generation is broken—and how AI is fixing it* The difference between generative AI vs. Agentic AI and why it mattersScaling a Unicorn: AppDirect's Journey & Hard Lessons (00:07:00)* The seven-year journey to profitability at AppDirect* Why AppDirect's first major partnership almost failed—and how they pivoted* How Daniel landed multi-million-dollar contracts with Deutsche Telekom, AT&T, and SoftBankWhat Founders Get Wrong About Go-To-Market Strategies (00:15:00)* The biggest mistakes startups make when scaling sales* Why trust and relationship-building are the ultimate growth levers* How AI is eliminating time-wasting manual processes for sales teamsThe Future of AI & Business: What's Next? (00:25:00)* Why AI-powered tools will reclaim 70-80% of sales teams' time* How agentic AI can simulate human sales reps and optimize campaigns in real time* The 100x efficiency gain Landbase customers are already seeingDaniel's Advice for Founders & Leaders (00:40:00)* Why the best founders have an insane vision—plus the ability to adapt* How Daniel structured his multi-year transition plan out of AppDirect* Why success is about falling in love with the problem—not the solutionAs AI rapidly reshapes sales and marketing, businesses stand at a crossroads—adapt or be left behind. Daniel Saks and Landbase are proving that Agentic AI isn't just the future—it's already here, transforming how companies generate leads, build trust, and drive revenue. Will sales teams embrace AI as their most powerful ally, or will they struggle to keep up in an era where machines work smarter, not just harder?Connect with Daniel Saks:LinkedIn: https://www.linkedin.com/in/danielsaksVisit the Landbase website: https://www.landbase.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo break down the seismic shift in Canadian politics as Mark Carney takes over as Prime Minister, succeeding Justin Trudeau. We explore what this means for Canada's economy, upcoming elections, and how business leaders are reacting to the change.* What's next for Carney and the Liberal Party?* Could Canada be heading for an April election?* How will Canada's economic policies evolve under Carney's leadership?Mark Carney Takes Over as Canada's 24th Prime Minister (00:01:00)In a widely expected move, Mark Carney won the Liberal leadership race with 86% of the vote, stepping into the role of Prime Minister. Despite having never held elected office, Carney's deep experience in global finance makes him a powerful force in Canadian politics.Carney's Background:* Former Governor of the Bank of Canada (2008-2013)* Governor of the Bank of England (2013-2020)* Economic advisor to Trudeau during COVID-19* Declined a role in Harper's Conservative governmentWhat's Next?With a tight race against Conservative leader Pierre Poilievre, Carney must move quickly to define his platform beyond broad economic promises. His leadership so far has been untested in political debates, raising questions about how he will navigate policy discussions leading up to a potential election.John Ruffolo's Take:“This is not a massive shift from Trudeau's policies—it's more of a continuation. Expect more government spending and taxation debates, but the big question is: How will Carney perform under real political pressure?”Will Canada See an April Election? (00:03:00)An early election could be announced as soon as March 16, with a vote set for April 22.Key Election Dynamics:* The Liberal Party is eager to hold elections before Conservative fundraising gains momentum.* Carney currently lacks a parliamentary seat, which could impact campaign optics.* A potential coalition between the Liberals, NDP, and Greens could reshape the political landscape.Projected Outcomes:* Conservatives still favored to win—but the margin is narrowing.* A left-wing coalition could prevent a Conservative majority.* Economic issues, particularly cost of living and taxation, will dominate voter concerns.John Ruffolo's Perspective:“With Canada's economy still under pressure, the Liberals need to move fast. Their best bet is a short campaign before Pierre Poilievre gains further traction. If the Liberals delay too long, it could backfire.”Canada's Economic Crossroads: What Carney's Policies Could Mean (00:07:00)Carney has hinted at major spending initiatives, but concerns over taxation remain front and center.Top Concerns:* Rising debt: More government borrowing could impact inflation.* Carbon tax shift: The tax isn't going away—just moving from gas stations to industrial sectors.* Cost of living crisis: Canadians are struggling with affordability, and tax policy will be a major campaign issue.What's Next?Will Carney unveil a bold new economic vision, or will his policies be Trudeau's agenda rebranded? Investors, business leaders, and everyday Canadians are watching closely.The Big Picture: What This Means for CanadaWith a potential election looming, Canada stands at a political and economic crossroads. Will Carney's leadership provide stability, or will voters seek a new direction under Pierre Poilievre? This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo dive into the growing exodus of Canadian talent to the U.S., breaking down why top founders and engineers are choosing Silicon Valley over homegrown opportunities. They discuss OpenAI's latest move to charge up to $20,000 per month for AI-powered research agents and how companies are rethinking hiring in light of these powerful tools. The conversation also covers the controversial CoreWeave IPO, highlighting its rapid $1.9B revenue surge, heavy reliance on Microsoft, and whether it signals a coming shake-up in cloud computing. On the political front, they analyze the potential for an early Canadian election, shifts in party leadership, and how economic policies—like capital gains tax hikes—are driving entrepreneurs out of the country.Canada's Tech Exodus: Why Founders Are Flocking to the U.S. (07:00)A striking rise in Canadian emigration has raised concerns about the country's ability to retain top talent. In 2024, 81,601 Canadians left the country, the highest number since 2017—half of them from Ontario.* Capital gains tax hikes pushing high-net-worth individuals and founders to relocate.* U.S. venture capital firms providing better funding opportunities for Canadian startups.* YC founder exodus: More Canadian founders are moving to the U.S. post-Y Combinator Demo Day, as confirmed by YC CEO Gary Tan.John Ruffolo's take:* Canada risks losing its top tech talent permanently if it doesn't address the capital and policy gaps driving this migration.* Founders aren't leaving out of convenience—it's about better market access, capital, and scaling opportunities.OpenAI's $20K/Month AI Agents: A Game-Changer? (18:00)OpenAI is rolling out three tiers of AI-powered assistants, capable of advanced research, software development, and business strategy—at a hefty price tag.Pricing breakdown:* $2K/month: Handles advanced knowledge worker tasks.* $10K/month: AI for software development.* $20K/month: PhD-level AI agents for deep research.Why this matters:* AI-powered coding tools like Cursor.dev have already grown to $100M ARR in 18 months.* Founders are increasingly opting for AI engineers over hiring multiple full-time developers.* This signals a shift in the labor market, potentially disrupting high-paid professional roles in tech, research, and consulting.CoreWeave's $2B Revenue IPO—Boom or Bust? (12:00)CoreWeave, a cloud computing startup that stockpiled NVIDIA GPUs early, is racing toward a high-profile IPO.Key numbers:* Revenue skyrocketed from $16M in 2022 to $1.9B in 2023.* Microsoft accounts for 62% of its revenue, sparking concerns over customer concentration.* The company holds $11B in debt, raising questions about profitability.* Founders cashed out $500M pre-IPO, raising red flags.John Ruffolo's analysis:* This looks like a high-risk, low-margin business that may struggle to justify its valuation.* Heavy debt financing and reliance on Microsoft contracts make it a shaky bet.* If public markets reject CoreWeave, it could be a warning sign for other AI and cloud IPOs.Will Canada See an April Election? (03:00)With Canada's Liberal Party leadership race heating up, rumors suggest an election could be called as early as March 16, with a vote on April 22.* The Liberals want a short election to limit Conservative fundraising advantages.* Mark Carney is positioned as the Liberal frontrunner, but he doesn't currently hold a parliamentary seat.* Coalition talks between Liberals, NDP, and the Green Party could reshape Canada's political landscape.Projected outcomes:* Conservative majority is still likely, but the margin has narrowed.* A left-wing coalition could prevent a Conservative landslide.The Bigger Picture: Where is Canada Headed?From AI disruption and talent migration to political uncertainty, this episode of Tank Talks dives into the forces reshaping Canada's future. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen sits down with Robert Morier, a former global investment executive turned venture capital professor at Drexel University. Robert shares his non-traditional journey—from studying history to managing multi-billion dollar investment portfolios, and ultimately returning to education to mentor the next generation of startup founders and VCs. They discuss his experience teaching venture capital, how risk management in lifeguarding relates to investing, how podcasting helps drive awareness, and why universities need more real-world startup training.About Robert Morier:Robert Morier is a professor at Drexel University, specializing in venture capital, early-stage finance, and private market due diligence. He mentors entrepreneurs and conducts research on entrepreneurial mindset and risk management, drawing insights from his experience as an ocean lifeguard in Wildwood Crest, NJ.With 25 years in institutional investments, he has led business development and fundraising efforts at firms like Paradice Investment Management, Xponance, and Indus Capital, raising billions in assets across global markets. He also runs Twelve Pound Advisors, advising asset managers on growth strategies.Morier is the co-founder of Twelve Pound Productions, producing the Dakota Live! Podcast, where he interviews investors on finance, leadership, and market trends. He has served on the University of Vermont's Grossman School of Business advisory board and supports nonprofit fundraising initiatives.Topics* (00:01:39) - How a love for travel led Robert into global investment roles* (00:03:04) - Spending years on the road and what ultimately led Robert to leave for academia* (00:04:06) - How working as a lifeguard shaped Robert's perspective on leadership and risk management* (00:07:09) - Why VCs should start with risk assessment rather than leaving it for the end of due diligence* (00:09:53) - Teaching Venture Capital: Why VC education is still lacking in most universities and how Drexel is changing that* (00:12:47) - Why schools focus too much on investment banking exits rather than startup formation* (00:15:32) - How the Drexel Innovation Fund supports student-led startups with real investments* (00:19:35) - The importance of teaching students about mistakes, failures, and resilience in investing.* (00:24:58) - The story of AER Cosmetics, a sustainable mascara startup that grew out of Drexel's entrepreneurial program* (00:30:21) - How schools can build better VC education and student-run investment funds* (00:36:25) - How the Dakota Live! Podcast came to be* (00:41:47) -  The biggest mistake fund managers make when pitching investorsRobert Morier's Fast Favorites:* Favorite Podcast: The Overthink Podcast* Favorite Podcast for Venture Capital: Capital Allocators by Ted Seides, along with Dakota Live! and Tank Talks.* Favorite Newsletter or Blog: Alternatively Speaking by Christopher Schelling* Favorite Book: East of Eden by John Steinbeck* Favorite Tech Gadget: A landline phone* Favorite Life Lesson: “Who's better than you? Nobody.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo talk about the BDC Capital $1B fund, the state of early-stage VC funding in Canada, and the rise of mega-deals dominated by U.S. investors. They also discuss the feasibility of the Quebec City-Toronto high-speed rail project, AI copyright lawsuits, potential Trump-era tariffs, and the future of open banking in Canada.Key TopicsBDC Capital's $1B Growth-Stage Investment Fund (00:42)* BDC Capital announces a $1B investment fund, with:* $500M Growth Venture Fund for direct investments and co-investments.* $450M Growth Equity Partners Program for minority stake investments in mid-market companies.* Concerns were raised by Mark McQueen about lack of early-stage funding* John Ruffolo's take:* Canada's early-stage VC ecosystem is underfunded.* BDC was meant to focus on riskier, early-stage investments, while EDC (Export Development Canada) focused on growth-stage.* Shift towards later-stage funding may leave early-stage startups without necessary capital.Canadian Venture Capital Funding Trends (04:55)* CVCA's 2024 report:* $7.86B invested across 592 deals, up 10% from 2023.* Mega deals ($50M+ rounds) comprised 62% of total VC investments.* Seed-stage funding fell 50% to $510M.* Notable mega-deals:* Clio – $1.24B Series F* Cohere – $616M Series D* Blockstream – $289M convertible note* Waabi – $275M Series B* U.S. investors dominate:* 32% of Canadian VC deals had U.S. investor participation.* Clio's round was entirely U.S.-funded.* John Ruffolo's analysis:* Canada needs stronger domestic venture capital.* U.S. capital will always flow into late-stage companies, but early-stage funding is crucial for long-term ecosystem growth.* Lack of Canadian IPOs in 2024 is a concerning sign.Quebec City-Toronto High-Speed Rail: $90B Boondoggle? (09:17)* Massive infrastructure proposal:* $60B–$90B price tag, with $3.9B allocated to planning alone.* Construction won't begin for at least five years, taking 5–7 years per segment.* Criticisms:* Timing is political (announced right before an election).* Where is the funding coming from? Canada's finances are already stretched.* Route selection is questionable – e.g., Laval getting a stop over Mississauga/Brampton.* John Ruffolo's take:* Financial viability is unclear – pension funds won't invest without guarantees of ridership.* Other priorities (e.g., Arctic infrastructure, national security) are being ignored.* The government should invest in digital infrastructure instead (e.g., full 5G coverage).AI Copyright Lawsuits: Cohere vs. Media Giants (14:35)* Major media coalition (The Atlantic, Forbes, The Guardian, Vox, etc.) sues AI startup Cohere for copyright infringement in New York.* Allegations: Cohere scraped and displayed copyrighted content without permission.* Seeking $150K per work infringed + an injunction against Cohere using their content.* Growing legal pressure on AI companies:* NY Times vs. OpenAI – potentially setting a massive precedent.* Anthropic, Meta, and Thomson Reuters have faced similar lawsuits.* John Ruffolo's view:* Copyright concerns were always an issue for AI models.* AI startups may have to pay into a licensing pool (like the music industry).* Investor risk increasing – legal uncertainties may impact funding for public LLMs.Trump's Potential Tariffs: What Canada Should Do (19:25)* Trump's trade policies likely to return if re-elected, impacting Canadian businesses.* John Ruffolo's recommendations:* Canada must fix internal issues first (e.g., interprovincial trade barriers).* Tariffs won't disappear for at least four years, so businesses must adapt.* Canadian businesses will have to shift profits & operations to the U.S. to remain competitive.The Future of Open Banking in Canada (22:00)* U.S. fintech sector gains a boost as Trump administration removes CFPB regulations.* Chime & Klarna expected to benefit from deregulation.* Canadian Conservatives promise major push for open banking if elected.* Liberals have been slow to act on open banking despite six years of promises.John Ruffolo's perspective:* Open banking will make Canadian banks stronger, not weaker.* Canada must prepare for U.S. competition in financial services.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen sits down with Amber Kanwar, a longtime financial journalist and former BNN Bloomberg anchor, who recently made the bold leap into independent media with her new podcast, In the Money. Amber shares her journey from an ambitious intern at BNN to becoming one of Canada's most recognizable financial voices.She recounts how she overcame imposter syndrome in the high-stakes world of financial journalism, the real lessons she learned from industry giants, and the importance of clear communication in a jargon-filled industry. Amber also reveals the investigative journalism story that put her on the map—a shocking fertility fraud scandal that led to a national reckoning.Leaving behind a prestigious legacy media role wasn't easy, but Amber explains why she chose to go solo, the structural challenges traditional media faces, and why she believes the future belongs to independent content creators. About Amber Kanwar:Amber Kanwar is one of Canada's most trusted and recognizable business journalists. For over a decade, she was a familiar face on Canada's flagship business channel, BNN Bloomberg. She has appeared as a contributor on CTV and Bloomberg in the US. She has interviewed hundreds of portfolio managers, CEOs, political leaders and newsmakers. She has a reputation for asking the right questions, putting the viewers' interests first and having a deep knowledge of the financial markets. She brings her signature authenticity and charm to the show, stress-testing ideas to make sure investors have all the information they need to make moves.Topics:* (01:25) – Amber's early career at BNN and breaking into financial journalism* (01:41) – Overcoming fear and using it as a motivator* (02:09) – The importance of starting from the bottom and learning every role* (04:56) – Amber's groundbreaking investigative journalism piece on fertility fraud* (09:16) – Transitioning from investigative journalism to financial news* (10:26) – The journey from intern to producer to on-air host at BNN* (11:38) – The importance of mentorship in media careers* (13:05) – How Amber developed her financial knowledge through guest interviews* (14:26) – Learning to turn complex financial news into engaging stories* (15:48) – The impact of simplifying financial jargon for broader audiences* (18:26) – Why Amber left BNN Bloomberg after 15 years* (22:02) – The vision for In the Money and why long-form content is valuable* (23:46) – How independent media can move faster than legacy media* (25:09) – The shift to digital-first journalism and YouTube podcasting* (26:26) – Investing philosophies: Amber's biggest lessons from the pandemic* (30:26) – The role of media in shaping market sentiment* (32:09) – Alternative investments: Are they worth it?* (33:38) – The future of In the Money and expanding AK Media* (35:23) – The shift in media consumption habits and the opportunity for new players* (38:46) – The importance of clear communication in finance* (40:02) – The hardest part of going independent: identity & brand-building* (41:38) – How Amber approaches guest preparation differently from legacy media* (43:23) – Building a media brand: Monetization, distribution, and content strategy* (45:09) – What legacy media gets wrong about digital content* (47:26) – Why niche content is thriving while traditional news strugglesFast Favorites

This episode analyzes the latest trade tensions between the U.S., Canada, and Mexico, exploring Trump's recent tariff decisions and their economic impact. Matt Cohen and John Ruffolo discuss Canada's political inaction, the rise of the Build Canada initiative, and the massive AI infrastructure investments by tech giants. They also break down StackAdapt's explosive growth and its implications for the Canadian startup ecosystem.Topics(00:42) Trump's Trade War: Winners & Losers(06:00) Canada's Delayed Government Response(09:30) The Launch of Build Canada(14:00) Shifts in Liberal Party Leadership(17:00) StackAdapt's Rise & $235M Investment(20:00) AI's CapEx Boom – Smart Play or Overspend?Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen welcomes Niklas Halusa, Co-Founder and CEO of Nautical Commerce, to explain how his company makes starting and running marketplaces easier. Niklas shares lessons from his venture capital experience, how to choose the right customers, and why marketplaces succeed or fail. He also talks about fundraising, managing growth, and what startup founders can learn from Formula 1 racing.About Niklas Halusa:Niklas Halusa is the Co-Founder and CEO of Nautical Commerce, where he has led the company since September 2023 after serving as its President for over three years. At Nautical, he focuses on simplifying marketplace creation and advancing digital commerce solutions.Before starting Nautical Commerce, Niklas worked on the investment team at Activant Capital, a firm specializing in commerce and technology-focused growth-stage businesses. Prior to Activant, Niklas held leadership roles at Turvo Inc., a supply chain collaboration platform which was acquired by Lineage Logistics for over $200 million. Earlier in his career, he worked in investment banking at Bank of America Merrill Lynch and at eToro.Niklas earned a Bachelor's degree in Economics from Harvard University.Topics:(01:15) Niklas shares his upbringing across Europe, his time in the U.S., and how his international background shaped his career(02:17) Niklas discusses his early work at Activant Capital, how he stumbled into venture capital, and what drew him to marketplace technology(05:56) The challenges and inefficiencies in marketplace infrastructure that inspired the creation of Nautical Commerce(08:00) Why startups should focus on their ideal customer profiles (ICP), how the wrong customers can harm growth, and why it's crucial to say no(11:45) Niklas explains how marketplaces evolve, why there's still room for new entrants, and how niche players can disrupt legacy platforms like Amazon(18:06) The experience of raising $30 million during the COVID-fueled e-commerce boom, and the importance of finding investors who align with your vision(25:00) Creative ways marketplaces can make money, such as seller subscriptions, logistics services, and data-driven value-adds beyond basic commissions(30:00) How marketplaces can use search data and customer insights to increase sales, attract more buyers, and better serve sellers(33:00) Strategies for reducing churn and building long-term trust in marketplaces by focusing on supplier quality and buyer-seller stickiness(37:00) Lessons from Formula 1: the value of focusing on one problem at a time, resource prioritization, and how it applies to running startups(41:00) Advice for founders: Test your idea while keeping your day job to gain conviction before fully committing to entrepreneurshipFast Favorites:* Favorite Podcast: How I Built This and F1 Beyond the Grid* Favorite Newsletter or Blog: Stratechery* Favorite Tech Gadget: Eight Sleep Pod,* Favorite New Trend: Antitrust movements, particularly those supporting small businesses* Favorite Book: Children of Time by Adrian Tchaikovsky* Favorite Life Lesson: “Success is going from failure to failure with no loss of enthusiasm.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode, Matt Cohen chats with Wendy Li, the co-founder and Chief Investment Officer of Ivy Invest, about her journey from managing institutional endowments to founding a fintech startup. Wendy shares insights from her experiences at the Metropolitan Museum of Art, the UJA Federation of New York, and the Mother Cabrini Health Foundation.She highlights her decision to leave a traditional allocator role to build Ivy Invest, a platform democratizing access to institutional-quality investments for retail investors. Wendy discusses the challenges of being a first-time founder, how emerging managers can build trust with institutional investors, and the long-term lessons from her career.About Wendy Li:Wendy Li is the Co-Founder and Chief Investment Officer of Ivy Invest, a platform that helps individual investors access investment portfolios similar to those used by big institutions. She has over 10 years of experience managing large investment funds and holds a Chartered Financial Analyst certification.Before starting Ivy Invest, Wendy was the Managing Director of Investments at the Mother Cabrini Health Foundation, where she set up the investment office and managed $4 billion. At the UJA-Federation of New York, she oversaw a $1 billion endowment and a $400 million pension plan. Her career began at the Metropolitan Museum of Art, where she worked as a Senior Investment Analyst.Wendy studied at Columbia University, where she earned her Bachelor's degree.Topics(01:13) Early Career Journey: Wendy shares her upbringing in Pennsylvania, moving to NYC, and her entry into finance at Columbia University.(02:30) First Role at the Met Museum: Insights from working with an established portfolio, sitting across high-profile investment committee members, and lessons on portfolio management.(04:51) The Transition to UJA: Managing a new investment office, building credibility with a seasoned investment committee, and reshaping a hedge fund-heavy portfolio.(06:57) Influence of David Swensen: Learning from Swensen's Yale Model and its focus on alternative investments, plus her direct exposure to the Yale network through colleagues.(09:48) Building Ivy Invest: Why Wendy left the endowment world to create Ivy Invest, the challenges of launching an SEC-registered fund, and solving access and complexity barriers for individual investors.(19:14) Fund Structure: Ivy Invest's single-fund strategy blending public and private investments, its interval fund structure, and quarterly repurchase options for investors.(24:11) Emerging Manager Advice: Key strategies for preparing to meet with institutional investors, understanding their specific needs, and how to build trust over time.(28:17) Long-Term Relationships: Why personal rapport, patience, and a deep understanding of both LPs and your own strategy are essential for emerging managers.(31:17) Lessons as a First-Time Founder: Transitioning to a fintech startup, learning to navigate the tech and regulatory landscape, and unexpected challenges like user access glitches.(36:38) Co-Founders and Team Dynamics: The complementary skills of her co-founders, balancing optimism with risk awareness, and maintaining trust and humor through challenges.(38:42) Brand Awareness and Challenges: Educating retail investors about their eligibility and building recognition for Ivy Invest's mission.(39:54) Surprises from Early Investors: The diversity of early adopters and how their demographics exceeded initial expectations.Fast Favorites* Favorite Podcast: How I Built This* Favorite Newsletter: Matt Levine's Money Stuff* Favorite Tech Gadget: iPhone* Favorite Trend: Established alternative investment managers opening access to retail investors* Favorite Book: A Tree Grows in Brooklyn by Betty Smith* Favorite Life Lesson: “Finish what you start.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

This episode analyzes the latest developments in U.S. policy and how they intersect with business, innovation, and Canadian economic strategies. Matt Cohen and John Ruffolo discuss Trump's second-term inauguration, Canada's potential responses, and the growing trend of venture capital firms adopting private equity-style roll-up strategies.Topics(00:42) Trump's Second-Term Inauguration(02:40) Key US Policy Announcements(05:00) Canada's Preparedness vs. Reaction in Policy (09:03) Alberta's Independent Strategy(13:11) Shifts in Liberal Party Leadership(16:31) Venture Capital Adopts Roll-Up Strategies(21:15) Challenges for Venture Roll-UpsFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode, Matt Cohen, Founder and CEO of PlaySpace, a digital... The post Can Technology Transform Mental Health Care for Children? with Matt Cohen first appeared on Startup Canada.

In this episode of Tank Talks, Matt Cohen welcomes back Rob Khazzam, CEO of Float, along with John Ruffolo, to discuss Float's recent $70M Series B funding led by Goldman Sachs, the challenges of building a fintech company in Canada, and the broader state of entrepreneurship in the country.Rob shares insights into Float's mission to simplify financial operations for Canadian businesses, emphasizing innovation in a heavily regulated industry. He reflects on the lessons learned from previous funding rounds and how Float adapted to market shifts. The conversation expands to challenges in Canadian policy, the need for a vibrant knowledge economy, and the role of government in fostering innovation.About Rob Khazzam:Rob Khazzam is the Co-Founder and CEO of Float, a Canadian company dedicated to simplifying corporate spending for businesses and teams.Previously, Rob served as an advisor to Framework Venture Partners and was the Managing Partner at Great Mountain Partners, an investment firm focused on acquiring majority stakes in Canadian businesses. He also worked at Uber for over five years, holding various leadership roles, including General Manager for Canada and Central & Eastern Europe.Rob earned an Honours Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario in 2009.Topics Discussed:(03:24) The founding story of Float, inspired by solving the inefficiency of expense reports. He reflects on the challenges Canadian businesses face in accessing modern financial tools, such as corporate cards.(05:20) Float's Series A funding and navigating the 2022–2023 market downturn. Rob emphasizes how Float balanced rapid growth with sustaining operations during challenging times(10:00) Float's approach to partnerships and funding, emphasizing long-term vision and sustainable growth over short-term wins or valuations and the alignment with Goldman Sachs as a strategic partner.(13:41) Exploration of payment inefficiencies and their impact on Canadian businesses.(17:45) Rob describes Float's commitment to trust, compliance, and risk management in a highly regulated fintech environment.(20:24) A broader discussion on Canada's entrepreneurial ecosystem and the importance of celebrating entrepreneurship and implementing proactive policies, such as open banking, to enhance Canada's knowledge economy.(25:54) Critiques of Canada's economic policies, advocating for a focus on intentional knowledge economy growth and smarter immigration strategies to boost per capita GDP.(35:29) Personal reflections on Rob's time in Europe, which gave him perspective on Canada's multicultural strengths and opportunities for economic unity.(40:16) A discussion on the importance of standing up for Canadian values, addressing social tensions, and fostering national unity against divisive identity politics.(50:42) Float's goals for the next 12–18 months, including delivering an optimized business banking experience, helping customers achieve better ROI, and significantly reducing user time spent on Float's platform.Fast Favorites:* Podcast: Invest Like the Best (business), Spittin' Chiclets (sports).* Blog: Stratechery* Tech Gadget: iPhone* New Trend: Cold plunging to manage stress and anxiety* Book: No Rules Rules by Reed Hastings and Erin Meyer* Life Lesson: "Believe in yourself more than you actually do."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo discuss the fast-moving events shaping Canada's political and economic landscape. Topics include the fallout from Prime Minister Justin Trudeau's resignation, the complexities of the CRA's proposed capital gains tax adjustments, and the legal challenges tied to Parliament's prorogation. The conversation then pivots to groundbreaking developments in AI, spotlighting RBC's partnership with Cohere to build a generative AI platform. The episode wraps with a critical analysis of the sudden closure of Vancouver-based Bench Accounting and its surprising acquisition.Topics:* (00:45) CRA's enforcement of capital gains tax changes and taxpayer strategies* (02:41) Legislative uncertainty surrounding the federal budget and prorogation* (04:08) Legal arguments challenging prorogation and their implications* (06:04) External perceptions of Canadian governance* (08:22) RBC's partnership with Cohere for AI development* (11:36) Anthropic's funding round and global AI investment trends* (11:52) Bench Accounting's shutdown and its acquisition by employer.comFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo talk about the big news that Justin Trudeau is stepping down after being Canada's Prime Minister for nine years. They explore what this means for Canada, including how it affects the government, the economy, and Canada's relationship with the United States.Topics covered include:* (01:28) What Trudeau's resignation means for the Liberal Party and Canada's government.* (03:17) Why the Liberal Party's leadership race could create even more problems.* (04:00) How Canada's political issues might hurt its relationship with the U.S.* (07:22) Questions about the proposed capital gains tax changes and how they confuse taxpayers.* (10:12) Politicians using social media to speak directly to people, like Pierre Poilievre's viral interview.* (13:15) Elon Musk announces changes to X (formerly Twitter) to make it more positiveFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen wraps up an extraordinary year in tech, venture capital, and innovation with this special "Best of 2024" episode of Tank Talks. Featuring insights from some remarkable guests, this episode explores the year's defining moments and actionable lessons.Baron Davis dives into the transformative potential of AI, VR/AR, and digital assets, while Dax Da Silva of Lightspeed shares how energy and spirituality fuel leadership. Nicolas Mulroney reveals the grit it took to pitch 80 investors to launch his bakery venture, and Winter Mead explains how Coolwater Capital is building the next generation of venture fund managers.Tom McCullough of Northwood Family Office discusses what it takes to thrive in wealth management, and Mario Nigro shares strategies for navigating high-stakes M&A negotiations. Arati Sharma and Satish Kanwar offer a critical lens on Canada's innovation landscape, calling for affordability and optimism to drive entrepreneurial growth. Finally, John Rikhtegar delivers data-driven insights into the past decade of Canadian venture exits, revealing how market cycles shape success.Enjoy and see you next week with fresh insights and a new interview.Key Highlights and TimestampsFeatured Guests* Baron Davis: The Future of AI and Life Lessons* (00:01:45) Explores trends in AI, VR/AR, and tokenized digital assets, including his innovative "OATMills" project.* (00:04:00) Favorite books: Rich Dad Poor Dad and Outliers.* Lesson: “Be happy with what you have, and good people will surround you.”* Nicolas Mulroney: Resilience in Entrepreneurship* (00:05:13) Shares how he overcame 50+ rejections while securing funding for his bakery in a challenging market.* Lesson: “It's an election you have to win. There's no other option.”* Winter Mead: Supporting Emerging VCs* (00:08:00) Highlights Cool Water Capital's program to develop first-time fund managers, focusing on operations, fundraising, and fund management.* Lesson: "Fund management isn't just about investing—it's about running a business."* Mario Nigro: Successful M&A Strategies* (00:24:00) Offers advice on managing complex negotiations, emphasizing communication and trust.* Lesson: "Most deal problems can be solved by better understanding the other side."* Arati Sharma & Satish Kanwar: Revitalizing Canadian Innovation* (00:29:00) Discuss Canada's innovation challenges and opportunities.* Arati: Calls for affordability to enable young entrepreneurs.* Satish: Stresses the importance of belief, optimism, and community building.* Tom McCullough: Redefining Wealth Management* (00:35:00) Advises aspiring family office founders to focus on client needs and solve real problems.* Lesson: “Understand demand and build something that fills a gap.”* John Rikhtegar: Venture Capital Insights* (00:46:00) Analyzes a decade of Canadian venture exits, revealing that over 50% of exit value occurred in 2020-2021.* Lesson: "Consistent capital allocation is critical for navigating market cycles."* Dax Da Silva: Energy, Fitness, and Leadership* (00:59:28) Discusses how fitness and spirituality fuel his leadership and entrepreneurial resilience.* Lesson: "To get energy, you must first put energy in."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo tackle the seismic shifts in Canada's political landscape, discuss the recent fall economic statement, and make bold predictions for 2025.Topics covered include Chrystia Freeland's unexpected resignation as Finance Minister (00:41), highlights from the Federal Budget (03:39), speculation about Canada's election timing (09:18), and how this government looks to the incoming US administration. The discussion also covers the growing "100 Million Dollar Club" in Canadian tech and debates the IPO prospects for leading startups (12:00). And John and Matt give rapid-fire predictions for 2025 (18:00).Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, host Matt Cohen and John Ruffolo discuss the latest developments in venture capital, technology, and innovation. Topics include the Canadian government's proposal to encourage pension fund investments in startups, the challenges entrepreneurs face in scaling businesses, and the systemic capital constraints within Canada's ecosystem.The conversation highlights Sheertex founder Katherine Homuth's journey and the broader difficulties of pursuing ambitious ventures in Canada. They also cover Raptor Maps' use of AI for solar farm efficiency, the resurgence of quantum computing with D-Wave's latest funding, and the emergence of layered SPVs investing in high-demand companies like SpaceX and OpenAI. The episode closes with an analysis of ServiceTitan's IPO and its implications for the reopening of the IPO market.(00:46) The Canadian Mini-Budget and Venture Capital* $2B package to support startups and scale-ups* Discussion on U.S. influence on Canadian investments and government initiatives(03:00) Economic Realities for Canadian Startups* John highlights Canada's capital constraints and increased tax concerns(05:00) Sheertex and Katherine Homuth's Moonshot Journey* $35M funding round led by Investissement Québec* Challenges in scaling operations and media scrutiny* The uphill battle of Canadian entrepreneurs pursuing ambitious goals* Read her article here(12:44) Raptor Maps and Solar Innovation* $35M raised to enhance solar energy management through AI and drones* Predictive maintenance and operational efficiencies in the solar sector(17:23) Quantum Computing Resurgence* D-Wave raises $175M as Google advances with its Willow chip* Global implications of quantum on industries and geopolitics(21:00) Double-Layer SPVs: Opportunity or Risk?* The rise of SPVs investing in other SPVs for firms like SpaceX and OpenAI* Risks of layered fees and opaque ownership structures(23:28) ServiceTitan IPO and the IPO Market Rebound* ServiceTitan's valuation debate following its $101/share IPO* Implications for the reopening of the IPO windowFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen sits down with Rebecca Kacaba, Co-Founder and CEO of DealMaker, a groundbreaking platform transforming how companies raise capital. Rebecca shares her journey from her entrepreneurial family background and legal expertise to spearhead innovation in the fundraising space.The conversation covers how DealMaker democratizes capital access, enabling individuals to invest in brands they love. The discussion also touches on the impact of regulations like the JOBS Act, the role of community and marketing in successful capital campaigns, and the future of AI in streamlining complex fundraising processes.Rebecca also opens up about her experiences as a female CEO in a male-dominated industry, scaling a fintech startup, and her vision for how retail capital will reshape ownership in the coming years.About Rebecca KacabaRebecca Kacaba is the CEO and co-founder of DealMaker, a tech company that helps businesses raise money online. DealMaker has helped companies raise over $1.7 billion from 650,000 investors, making it one of the fastest-growing companies in Canada. Rebecca's goal is to make it easier and fairer for people to invest in businesses they believe in.Before starting DealMaker, Rebecca worked as a lawyer for over ten years, specializing in helping companies with capital markets and mergers. She also worked at the Ontario Securities Commission, where she helped with important rules and policies for investments. Her background in law helped her create new tools for companies to raise money more efficiently.Rebecca earned her Bachelor of Arts in Psychology from Western University and her law degree (LLB) from the University of Windsor.Fast Favorites* Favorite Podcast: All-In Podcast* Favorite Bestie from All-In: Chamath Palihapitiya* Favorite Newsletter or Blog: Morning Brew* Favorite Tech Gadget: iPhone* Favorite New Trend: The democratization of capital* Favorite Book: Elon Musk's Biography* Favorite Life Lesson: "Failure is not a thing."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo discuss John's OpEd on building a prosperity agenda for Canada, becoming a better ally to the US, the announcement of the Sovereign AI fund, and key developments in venture capital, including ServiceTitan's IPO challenges and the implications of recent lawsuits against OpenAI.(01:13) Canada's Prosperity Agenda and Economic PrioritiesJohn Ruffolo delves into his op-ed advocating for federal government spending reforms, tax system simplification, and fostering innovation to secure Canada's future prosperity.* Key Points:* Canada must address federal debt, currently projected at $1.4 trillion.* Simplifying and aligning taxes with U.S. competitiveness could enhance productivity.* Innovation requires leveraging Canada's relationship with the U.S. in energy, minerals, and defense strategies.* John's Insight: “Canada's size means we must strategically use our strengths to negotiate with global powers, especially the U.S.”(06:14) Friend-Shoring: A Strategic Opportunity for CanadaMatt and John discuss the concept of “friend-shoring,” where allied nations reshape supply chains to reduce reliance on adversarial countries like China.* Definition: Using partnerships to onshore critical technologies and manufacturing.* Canada's Role: Access to minerals, energy, and a coordinated defense strategy make Canada an ideal partner for the U.S.* John's Take: “Canada's future will be closely tied to the U.S. This is a chance to secure innovation access and consumer market integration.”(12:35) Canada's AI Sovereignty StrategyThe federal government unveiled its $2 billion AI Sovereign Compute Strategy to enhance AI infrastructure across Canada.* Allocation Highlights:* $1 billion for public computing infrastructure.* $700 million for private sector and academia collaborations.* $300 million for affordable AI compute access for small businesses.* Criticism: Concerns about execution and whether funds should directly support existing private solutions like AWS or Google Cloud.* John's Perspective: “Supporting infrastructure is crucial, but tax credits for private spending might have been a better approach.”(18:02) OpenAI Faces Canadian Copyright LawsuitsMajor Canadian media organizations filed a lawsuit against OpenAI, claiming their content was used without permission for AI training.* Details: Plaintiffs include CBC, Globe and Mail, and Postmedia, seeking $20,000 per infringed work.* Implications: Rising copyright costs could fundamentally alter large language model economics.* John's View: “This highlights the need for a framework to balance creator rights and AI development.”(21:45) ServiceTitan's IPO ChallengesServiceTitan's IPO faces scrutiny due to its compounding ratchet clause, which dilutes employee ownership.* Background: IPO valuation set between $52-$57 per share, well below prior funding rounds.* Key Impact:* Employees face tax consequences on overvalued RSUs.* Preferred investors benefit from a 1x preference redemption and additional shares.* John's Take: “The lack of valuation adjustments in prior rounds leaves employees holding the bag. This is a cautionary tale for structuring future investments.”(28:19) Legacy VC Exits and Emerging Manager StrugglesBrian Singerman, a Founders Fund partner, transitions to partner emeritus, reflecting challenges in the current VC landscape.* Key Observations:* Spinout managers face difficulty raising funds amid institutional risk aversion.* Established partners are stepping back due to tougher market conditions.* John's Insight: “VC investing is hard work. The market is returning to normalcy after years of overfunding during the zero-interest era.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen welcomes Mitch Debora, the Co-Founder and CEO of Mosaic Manufacturing, a pioneer in the field of additive manufacturing and 3D printing. Mitch shares insights into how Mosaic is transforming global supply chains with innovative 3D printing solutions, particularly in the wake of COVID-19, which exposed the fragility of traditional supply chains.The discussion dives into Mosaic's latest innovation, the Array system, which enables continuous automated production at scale. Mitch outlines the environmental and economic advantages of additive manufacturing, its applications in diverse industries such as medical devices, textiles, and consumer goods, and Mosaic's vision for a sustainable future of localized production.The conversation also touches on Mosaic's $28M growth equity financing round led by Idealist Capital, signaling the company's ambitious plans for expansion and innovation.About Mitch Debora:Mitch Debora is the Co-Founder and CEO of Mosaic Manufacturing, a leader in advanced polymer-based multi-material additive manufacturing solutions. He also serves as an Additive Manufacturing Advisory Board Member at NGen Canada. With expertise in digital manufacturing and supply chain innovation, Mitch focuses on strategy, growth, intellectual property, and engineering. His earlier ventures include founding Vivid 3D, offering professional-grade 3D printing services. Mitch earned his Bachelor of Applied Science in Mechanical Engineering from Queen's University, where he also developed a deep interest in 3D printing.Topics discussed:(01:32) Mitch's Journey into Entrepreneurship02:30) Inspiration Behind Mosaic(08:09) Impact of COVID-19 on Supply Chains(11:49) The Array System: Revolutionizing Manufacturing(15:48) Future of 3D Printing(18:24) AI in Additive Manufacturing(23:00) Environmental Benefits of Additive Manufacturing(26:34) 3D Printing at Home(31:40) Mosaic's Recent Funding RoundFast Favorites:Favorite Podcast: How I Built This by Guy RazFavorite Blog: Mosaic's BlogFavorite Tech Gadget: 3D printersFavorite New Trend: Betting culture as a predictive data sourceFavorite Book: The Age of Spiritual Machines by Ray KurzweilFavorite Life Lesson: "You don't know what you don't know."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo discuss Neo Financial's $80M funding and the concerns surrounding Tencent's involvement, Hopper's layoffs as it pivots to B2B partnerships, and Elon Musk's dual moves with his Department of Government Efficiency and X.AI's stock offering. They also explore the implications of ServiceTitan's IPO ratchet clause and Wealthsimple's $100M secondary share purchase ahead of a potential IPO.(01:13) Neo Financial's Tencent ControversyNeo Financial's $80M equity financing revealed Tencent Holdings as a lead investor, sparking concerns about Chinese involvement in Canadian financial services.* Tencent is a passive investor with no board seat or sensitive data access, but the lack of transparency raised questions.* John's Take: “If safeguards are in place, why not openly embrace a credible investor like Tencent? Mishandling the PR has fueled unnecessary suspicion.”(04:39) Hopper's Layoffs and Strategic PivotHopper cuts 10% of its workforce, following a 30% reduction last year, as it shifts focus to B2B partnerships with firms like Capital One and Uber.* B2B now accounts for two-thirds of Hopper's revenue.* John's Analysis: AI could transform Hopper's operations, but revenue compression and dependency on Expedia create challenges.(09:53) Musk's Moves: DOGE and XAIElon Musk enlists Sriram Krishnan for his Department of Government Efficiency (DOGE) initiative while leveraging his X.AI venture to benefit Twitter investors.* DOGE: Musk's team focuses on reducing government inefficiency through red tape reduction, technology adoption, and spending optimization.* X.AI Stake Offering: Musk grants a 25% stake in X.AI to Twitter investors to offset valuation losses post-acquisition.* John's Insight: “Musk is creating an interconnected ecosystem where partners benefit from his entire portfolio, a brilliant move to maintain loyalty and long-term value.”(06:00) Wealthsimple's Secondary TransactionsWealthsimple purchased $100M in employee shares at a $5B valuation, positioning for a potential IPO.* Signals: Minimal gap between common and preferred shares indicates readiness for public markets.* Performance: Reportedly cash flow breakeven, driven by a strong crypto portfolio and $8B AUM.* Matt's Take: “This secondary move shows maturity and sets the stage for long-term growth under new leadership.”(18:29) ServiceTitan's Ratchet Clause and IPO ImpactServiceTitan's IPO is propelled by a compounding ratchet clause from its Series H funding.* What's a Ratchet? Investors get more shares if IPO valuation falls below a set threshold, diluting existing shareholders.* John's Take: “Compounding ratchets penalize employees and distort economic interests. They're a clear sign of investor concerns during the funding crunch.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen interviews Jayesh Parmar, founder of Picatic, a ticketing platform acquired by Eventbrite, and current wellness innovator with Gunkii. Jayesh discusses building a startup in Saskatoon, navigating challenges, competing against incumbents, and lessons learned from scaling a company. He also shares insights into his current venture, Gunkii, and his contributions to the startup ecosystem.About Jayesh Parmar:Jayesh Parmar is the Co-CEO and founder of Gunkii, a wellness brand launched in 2021 that focuses on luxury tongue scrapers. He is responsible for leading product innovation and strategic growth in the oral health space.Previously, he was at Eventbrite after acquired his startup, Picatic a global event ticketing platform serving 46 countries, known for its innovative pricing models. Earlier, Jayesh founded Boom Music, an event production and live music management company, which he ran from 1997 to 2011. He also spent over a decade as a teacher with Saskatoon Public Schools.Jayesh holds a bachelor's degree from the University of Saskatchewan.Discussion Highlights:* 00:20 Founding Picatic: Competing with Eventbrite using innovative pricing models* 00:37 Early challenges of building a startup: Funding, market confusion, and team building.* 02:11 Scaling from Saskatoon and the role of accelerators in San Francisco, Toronto, and New York* 03:44 Competing with Eventbrite: Pay-What-You-Want and freemium pricing models* 09:00 The importance of "dogfooding" in refining Picatic's product* 16:32 Celebrating milestones like reaching $10 million in sales* 18:50 The Eventbrite acquisition: How it happened and preparing for M&A* 21:00 Practical advice: Keeping a clean data room and leveraging exited founders as advisors* 27:13 Mentorship and giving back to the startup ecosystem* 28:31 Viewing failure as a data point and using it to improve* 31:00 Creating Gunkii: A wellness product inspired by cultural heritage* 33:24 What's next: Supporting startups as a mentor and advisorFast Favorites:* Favorite Podcast: All In* Favorite Newsletter: Lenny's Newsletter* Favorite Tech Gadget: Boardy.ai* Favorite New Trend: Wellness-focused retreats for entrepreneurs* Favorite Book: Principles by Ray Dalio* Favorite Life Lesson: “Your presence matters more.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen welcomes back John Ruffolo, of Maverix Private Equity, for a discussion on Neo Financial's recent funding round, the state of IPOs, antitrust actions against Google, the dominance of NVIDIA in AI hardware, and the speculative nature of MicroStrategy's Bitcoin strategy. * (00:55) Neo Financial's $362 Million Series D RoundAnalysis of the Calgary-based challenger bank's latest financing round, including a significant valuation drop since 2022 and insights into structured equity and debt financing.* (03:20) Fintech Valuation ResetsJohn reflects on the aggressive valuations during 2019-2021 and applauds founders navigating down rounds responsibly.* (06:22) Klarna and IPO TrendsDiscussion of Klarna's IPO and broader market activity, including ServiceTitan's filing and a potential boost in M&A and IPOs.* (08:47) Antitrust Pressure on GoogleThe DOJ's push to dismantle Google's Chrome browser and Android dominance, its implications for AI development, and the historical irony compared to Microsoft's Netscape case.* (12:49) NVIDIA's Dominance in AI HardwareExploration of NVIDIA's record-breaking revenues, its chokehold on AI compute, and the challenges potential competitors face.* (15:46) OpenAI's Costs vs. RevenueA deep dive into OpenAI's staggering operational costs and projected losses for 2024, highlighting the high stakes of AI innovation.* (16:45) MicroStrategy's Bitcoin StrategyDiscussion of MicroStrategy's Bitcoin-heavy balance sheet, its valuation compared to its holdings, and parallels to previous financial collapses.* (19:00) Final Thoughts and TakeawaysJohn reflects on exuberance in speculative markets and the risks of over-leveraging in volatile assets like Bitcoin.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Rikhtegar of RBCx discuss the insights from Rikhtegar's report on capital exited in Canadian venture capital over the past decade. They talk about the importance of understanding capital efficiency, market cycles, and the power law in venture exits.John emphasizes the need for a comprehensive view of the venture ecosystem, focusing on capital allocated, invested, and exited. The discussion also the current state and future of Canadian venture capital, emphasizing the importance of capital efficiency, the challenges of growth at all costs, and the evolving landscape of funding. They analyze data on exit values and funding ratios between Canada and the US, highlighting the need for Canadian investors to adapt their strategies to achieve better outcomes.And John Ruffolo from Maverix PE stops by to discuss the week's news.About John Rikhtegar:John Rikhtegar is the Director of Capital at RBCx, where he leads investments in venture capital funds and startups, while driving strategic initiatives to enhance transparency and value in Canada's private markets. With a focus on supporting the venture ecosystem, John has played a key role in fostering innovation and growth across the country.Before joining RBCx, John built an impressive career in tech and operations. He held senior leadership roles at Kognitiv Corporation, guiding strategic transformations in Canada and the UK, and was part of the founding team at VaynerCommerce, leading revenue growth in the UK and EMEA. At Shopify Plus, he worked with high-growth, enterprise-level merchants, helping scale some of the world's most innovative brands.John holds an Honors Business Administration (HBA) degree from the Ivey Business School at Western UniversityNews Rundown with John Ruffolo(01:00) Analysis of Q3 2024 Canadian venture capital activity: Record-breaking headline numbers but troubling declines in early-stage domestic investment.(03:00) Impact of Canada's capital gains tax increases on angel investments and early-stage startups.(05:23) U.S. investment dominance in Canadian deals and the challenges for domestic capital raising.(10:50) Klarna's rebound after valuation cuts as a roadmap for startups navigating downturns.(12:35) Databricks' secondary funding move and the tension between liquidity needs and IPO delays.(16:50) Public-private sector collaboration in the U.S. and lessons Canada could adopt for governance efficiency.Interview with John Rikhtegar(20:20) John Rikhtegar's career journey: From Shopify to VaynerMedia to leading RBCX Capital.(24:30) The origins of the Spotlight report and why analyzing capital exited, not just invested, is critical to understanding venture ecosystem health.(28:00) Market cycles and their impact on liquidity, with 2020-2021 generating 50% of Canada's total exit value over the past decade.(30:26) The power law in Canadian venture exits: The top 50 exits accounted for 85% of all exit value.(32:00) Capital efficiency and its implications for founders, GPs, and LPs: Why bigger isn't always better.(36:00) Canada's advantage in building capital-efficient companies due to constrained resources compared to the U.S.(38:00) Practical advice for investors: Staying disciplined on entry prices and prioritizing ownership-sensitive investments in early-stage companies.(46:08) Comparing Canada and U.S. capital efficiency: Lessons learned and the importance of scaling the 1.6x efficiency ratio for Canadian venture capital.Fast FavoritesFavorite Podcast: 10X Capital by David WeisbergFavorite Newsletter or Blog: Clouded Judgment by Jamin BallFavorite Tech Gadget: Garmin WatchFavorite New Trend: Cooking at homeFavorite Book: The Score Takes Care of Itself by Bill WalshFavorite Life Lesson: Don't worry about things outside of your control.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode, Matt Cohen interviews Bill Macaitis of SaaS CMO Pro. Bill was instrumental in scaling B2B SaaS giants like Salesforce, Zendesk, and Slack. The conversation covers Bill's transition from B2C to B2B, bringing consumer marketing techniques into enterprise SaaS, and his role in IPO successes for companies like Zendesk and Slack. Bill also delves into building high-performing, customer-centric marketing teams, strategies for effective inbound and outbound marketing, and the importance of brand differentiation, even in the traditionally risk-averse B2B space. They also explore the evolving role of AI in marketing and the shift in customer acquisition strategies using product-led growth (PLG) models.And John Ruffolo is back to break down the news of the week!About Bill Macaitis:Bill Macaitis is the founder and CEO of SaaS CMO Pro, a platform that helps B2B SaaS and AI companies grow through customer-centric, capital-efficient strategies. He also provides advisory services to founders on scaling marketing and sales.Previously, Bill served as CMO and CRO at Slack, where he led the company to a $16 billion IPO and later acquisition by Salesforce. He was also CMO at Zendesk, guiding the company to a $1.7 billion IPO, and SVP of Marketing at Salesforce, where he drove revenue from $900 million to $3 billion.Bill began his career in B2C marketing, notably at IGN Entertainment and Fox Interactive Media. He holds a Bachelor's in Business Administration from the University of Illinois Urbana-Champaign.News Rundown with John Ruffolo* (00:01:04) U.S. Federal Election Analysis* (00:04:00) Mainstream Media and Social Media's Rise* (00:06:35) Elon Musk's Influence and Stock Market Reactions* (00:08:18) OpenAI's Purchase of "Chat.com"* (00:09:38) Perplexity AI's $500 Million Funding Round* (00:13:00) Venture Capital's Private Equity Strategy in AI* (00:15:23) Salesforce in the AI LandscapeInterview with Bill Macaitis* (00:20:20) Bill Macaitis' Journey from B2C to B2B* (00:21:52) Building Salesforce's Brand in the Financial Crisis* (00:27:00) Importance of B2B Mascots* (00:32:57) Product-Led Growth (PLG) Strategy at Slack* (00:39:00) Tips for AI Startups on Freemium Strategies* (00:41:31) Account-Based Marketing (ABM) Insights* (00:45:58) AI's Impact on Marketing and Career Advice for Marketers* (00:49:26) Launch of SaaS CMO ProFast Favorites* Favorite Podcast: Artificial Intelligence Show* Favorite Newsletter or Blog: Only CFO* Favorite Tech Gadget: Rachio* Favorite New Trend: Artificial Intelligence (AI) advancements* Favorite Book: Earn It by Steve Pratt* Favorite Life Lesson: Don't focus on if you're employed, focus on if you're employableFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Peter van der Velden joins Matt Cohen to discuss the dynamic changes within the life sciences sector and venture capital at large. He highlights the success factors in life sciences as a high-performing asset class and discusses the role of Canadian pension funds in supporting innovation. The episode also covers the transformative potential of GLP-1 drugs and AI's impact on drug discovery and medical technology.And John Ruffolo is back to talk about the US elections and tech news. (Note: this was recorded before the election on 11/5/24).About Peter van der Velden:Peter van der Velden is the Founder and Managing General Partner of Lumira Ventures, a top Canadian life sciences venture capital firm he established in 2007 following a management buyout of MDS Capital. At Lumira, he focuses on biotech and medtech investments, with multiple high-profile exits involving acquisitions by major pharmaceutical companies.Prior to Lumira, Peter served as President and CEO of MDS Capital, Canada's oldest life sciences VC firm. He has also founded and led Fusion Capital, an investment bank for Canadian tech ventures, and worked as Managing Director at Bedford Capital, a private equity boutique.Peter began his career in venture capital in 1988 at Vencap Equities and later held roles in business development at Hyal Pharmaceuticals and Taurus Capital. He holds an MBA from the Schulich School of Business and an MSc in Pathology and a BSc in Life Sciences from Queen's University.In this episode, we discuss:News with John Ruffolo(1:26) – Super Micro Computer Stock Decline(4:00) – Canadian Perspective on U.S. Elections(6:45) – Decline of Mainstream Media and Rise of Alternative Platforms(11:41) – VCs Backing Multiple Competing LLMs(17:20) – Potential AI Mergers and Acquisitions in 2025Interview with Peter van der Velden(19:48) – Peter's Role at Lumira Ventures(21:03) – Transformation in Venture Capital and Life Sciences(24:05) – Life Sciences Outperformance as an Asset Class(27:48) – Canadian Pension Funds and Venture Capital(31:20) – Case Study: Histosonics and Pension Fund Support(35:25) – Quebec's Leadership in Supporting Local Innovation(37:00) – Challenges in Advocating for Canadian Venture Capital(46:16) – GLP-1 Drugs and Their Transformative Potential(49:19) – Industries Disrupted by GLP-1 Innovations(52:00) – AI's Role in Drug Discovery and MedtechFast Favorites * Favorite Podcast: Acquired and All In* Favorite Tech Gadget: NotebookLM.google* Favorite Trend: Rationality returning to the venture market* Favorite Life Lesson: "Never give up"Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

We discuss the deep impact of Project 2025 policies on the American people, even if only 10-15% were implemented. Well beyond abortion bans and no-fault divorces, Project 2025 would adversely affect democracy. It would be easier for big money to influence election outcomes, for disinformation and misinformation to spread, and for foreign actors to meddle in elections.   Matt's civic action toolkit recommendations are:  Look at what's going on around you and take action at the local level Join a mutual aid group in your community   Matt Cohen is a senior staff writer covering elections, voting rights, and threats to democracy at Democracy Docket, the leading digital news platform dedicated to information, analysis, and opinion about voting rights and elections in the courts. Follow Matt on X:  https://x.com/Matt_D_Cohen    Follow Mila on X:  https://x.com/milaatmos    Be the Spark!:  https://www.futurehindsight.com/spark    Listen to Skye Perryman's Episode: https://www.futurehindsight.com/episodes/courts-for-democracy-skye-perryman    Follow Future Hindsight on Instagram:  https://www.instagram.com/futurehindsightpod/   Sponsor:  Thanks to Shopify for supporting Future Hindsight! Sign up for a $1/month trial at shopify.com/hopeful.   Want to support the show and get it early?  https://patreon.com/futurehindsight  Credits:  Host: Mila Atmos  Guests: Matt Cohen Executive Producer: Mila Atmos Producer: Zack Travis

Today, President Biden is set to announce major Supreme Court reform efforts including term limits; JD Vance has yet to accept debates with Vice President Kamala Harris; the DNC says its virtual roll call to nominate Biden will happen in early August; Elon Musk is moving Tesla out of California; Rudy Giuliani says he has no regrets over the damage he did to the lives of Ruby Freeman and Shaye Moss; Jack Smith files official notice with the 11th Circuit that he intends to appeal Judge Cannon's decision to dismiss the charges against Donald Trump; plus Allison delivers your Good News.Our Guest:David Pepperhttps://twitter.com/DavidPepperhttps://davidpepper.substack.comLaboratories of Autocracy: A Wake-Up Call from Behind the Lines by David Pepper (Amazon.com) Tickets and LIVE show dates https://allisongill.comSubscribe for free to MuellerSheWrote on Substackhttps://muellershewrote.substack.com Herlights EP 275: The World Cup You Never Heard Of with Comedian Dana Goldberg  StoriesSchumer privately urged Biden to step aside in 2024 election: Sources (ABC News)Biden set to announce support for major Supreme Court changes (The Washington Post)Harris accepts 3 possible dates for VP debate against JD Vance; Trump campaign declines to commit (New York 1)Elon Musk says SpaceX and X headquarters moving to Texas, blames California trans student privacy law (CNBC)Giuliani has ‘no regrets' about defaming 2020 election workers (CNN)Check out other MSW Media podcastshttps://mswmedia.com/shows/Subscribe to Lawyers, Guns, And MoneyAd-free premium feed: https://lawyersgunsandmoney.supercast.comSubscribe for free everywhere else:https://lawyersgunsandmoney.simplecast.com/episodes/1-miami-1985Follow AG and Dana on Social MediaDr. Allison Gill Follow Mueller, She Wrote on Posthttps://post.news/@/MuellerSheWrote?utm_source=TwitterAG&utm_medium=creator_organic&utm_campaign=muellershewrote&utm_content=FollowMehttps://muellershewrote.substack.comhttps://twitter.com/MuellerSheWrotehttps://www.threads.net/@muellershewrotehttps://www.tiktok.com/@muellershewrotehttps://instagram.com/muellershewroteDana Goldberghttps://twitter.com/DGComedyhttps://www.instagram.com/dgcomedyhttps://www.facebook.com/dgcomedyhttps://danagoldberg.comHave some good news; a confession; or a correction to share?Good News & Confessions - The Daily Beanshttps://www.dailybeanspod.com/confessional/From The Good NewsPublic Service Loan Forgiveness (PSLF | studenaid.gov)John Lewis: In Search of the Beloved Community by Raymond Arsenault (Amazon.com)In Selma, A 'Final Crossing' For John Lewis Across The Edmund Pettus Bridge (NPR)Art by Juliann (Etsy) Live Show Ticket Links:https://allisongill.com (for all tickets and show dates)Friday August 16th Washington, DC - with Andy McCabe, Pete Strzok, Glenn Kirschner https://tinyurl.com/Beans-in-DCSaturday August 24 San Francisco, CA https://tinyurl.com/Beans-SF Listener Survey:http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=shortFollow the Podcast on Apple:The Daily Beans on Apple PodcastsWant to support the show and get it ad-free and early?Supercasthttps://dailybeans.supercast.com/OrPatreon https://patreon.com/thedailybeansOr subscribe on Apple Podcasts with our affiliate linkThe Daily Beans on Apple Podcasts