Podcast appearances and mentions of Matt Cohen

In this episode of Tank Talks, Matt Cohen and John Ruffolo unpack the ripple effects of Y Combinator's decision to exclude Canadian startups from their investment portfolio unless they're incorporated in the U.S. or other tax-friendly jurisdictions. This move has sent shockwaves through the Canadian tech ecosystem, and Matt and John break down exactly why this matters for founders and investors alike.The conversation explores the myth of U.S. incorporation being the golden ticket for capital-raising and the rise of a narrative that Canadian entrepreneurs must leave their home country to achieve success. Matt and John challenge this narrative head-on, providing deep insights into why Canadian tech companies can still thrive domestically and refuting the data that YC used to justify their decision.Y Combinator Shakes Up Canadian Startups (01:09)YC has revised its investment criteria to exclude Canadian companies unless they're incorporated in the U.S. or certain tax havens. The duo debates the implications of this shift and how it impacts Canadian founders who are now questioning their incorporation choices.The False Narrative of U.S. Incorporation (03:09)John breaks down the myth that U.S.-incorporated companies raise more capital than their Canadian counterparts, calling out misleading data points used by YC's Garry Tan to justify the shift. The conversation digs into why this narrative is misleading and what Canadian entrepreneurs can do to counter it.Why YC's Data Doesn't Tell the Full Story (05:35)John explains how some of Canada's most successful tech companies didn't follow the YC path and still thrived, refuting the idea that incorporation in the U.S. is always the best move for Canadian startups.The Ripple Effect on Early-Stage Founders (06:25)The discussion turns to the younger generation of founders who now believe they must incorporate in the U.S. to succeed, potentially setting them up for unnecessary challenges.The Shift from PE to VC: Innovator's Dilemma (14:07)Matt and John shift gears to discuss private equity's struggle with legacy enterprise software companies in the wake of AI disruption. They explore how PE firms are transforming into venture funds to keep up with market changes, creating a new kind of investment landscape.The AI Crisis for Private Equity (15:10)As AI-native startups disrupt traditional software models, private equity firms face extended hold periods on their investments. Matt and John explore how firms like Thoma Bravo are adjusting their strategies to deal with these changes.CGI Partners with OpenAI: The Changing Consulting Landscape (18:54)The episode wraps up with a discussion on CGI's new global alliance with OpenAI. This partnership marks a major shift in the IT consulting world, with CGI aiming to integrate AI at scale. Matt and John speculate on the future of AI in enterprise consulting and what this means for legacy players like CGI.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

The Texas Secretary of State just turned over every registered voter in Texas' private voter information (like your birthdate and the last digits of your Social Security number) to the Donald Trump Department of Justice. So, what happens now? Voting rights experts Matt Cohen, a reporter with Democracy Docket delivering national coverage on this story, and Ashley Harris, a Staff Attorney with ACLU Texas joined us to break down why Trump and the DOJ have a mandate out to every US state, how Texas fits into this national push and subsequent lawsuits, plus who has your private data. Learn more about ACLU Texas at https://www.aclutx.org/.Learn more about Democracy Docket at https://www.democracydocket.com/.Thanks for listening! Learn more about Progress Texas and how you can support our ongoing work at https://progresstexas.org/.

In this episode of Tank Talks, Matt Cohen and John Ruffolo unpack Prime Minister Mark Carney's China agreement and his Davos speech, calling out the collapse of the rules-based international order and pushing “middle powers” to coordinate against coercion. John and Matt agree the speech was sharp, but they hammer the real issue: Canada has to build leverage at home (resources, infrastructure, internal trade, and actual execution) or “diversifying” becomes a vibes-only strategy.The conversation then pivots to Trump's Greenland framework, rare earth realities, and why the real choke point is processing, not just “owning minerals.” Finally, they switch lanes into markets, covering the biggest anticipated IPOs of 2026 (SpaceX, OpenAI, Databricks, Stripe, Revolut, Canva), why liquidity could snap back for LPs, and why SPACs are creeping back as a funding path for deep tech, including General Fusion's SPAC and the emergence of the Canadian Rocket Company as Canada tries to repatriate space talent.Canada–China trade reset and what it actually means (02:13)Matt tees up the January 16 China agreement and the idea of trade diversification under U.S. tariff uncertainty. John frames it as a fix for specific trade pain (not a full political pivot) and warns against treating China as a “safe alternative.”Davos speech: “truth bombs” vs real-world action (04:11)They break down Carney's Davos message on coercion, great power tactics, and middle-power coalitions. John calls it “spectacular,” but both stress the gap between rhetoric and measurable outcomes.Canada's leverage problem: “build Canada first” (06:39)John argues Canada can't diversify trade if it has nothing competitive and scalable to trade. The conversation turns into a blunt call for domestic execution: resources, pipelines, and the hard stuff that moves GDP.Matt's frustration: Why no national address to Canadians? (08:06)Matt goes off on the lack of direct, plainspoken communication to Canadians about what has to change, what's coming, and what tradeoffs might be required.Trump and Greenland: Bond markets, politics, and power (12:32)John calls Trump's posture performative and points to constraints that actually matter, including internal GOP pressure and market reactions (he highlights the bond market as the real “adult in the room”).Top anticipated IPOs of 2026: the mega list (19:12)They run through what's being floated as the monster class of potential offerings: SpaceX, OpenAI, Databricks, Stripe, Revolut, Canva (and more speculation). The bigger point: it's not number of IPOs, it's dollar value and liquidity unlock.Canada's space bets: Canadian Rocket Company emerges (21:15)Matt shares CRC's emergence from stealth with $6.2M funding (all Canadian investors including BDC and Garage). Focus: repatriating SpaceX/Blue Origin talent and pushing Canada deeper into the space industrial base.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 sits down with Timothy Chen, the sole General Partner at Essence VC. Tim shares his remarkable journey from being a “nerdy, geeky kid” who hacked open-source projects to becoming one of the most respected early-stage infrastructure investors, backing breakout companies like Tabular (acquired by Databricks for $2.2 billion). A former engineer at Microsoft and VMware, co-founder of Hyperpilot (acquired by Cloudera), and now a solo GP who quietly raised over $41 million for his latest fund, Tim offers a unique, no-BS perspective on spotting technical founders, navigating the idea maze, and rethinking sales and traction in the world of AI and infrastructure.We dive deep into his unconventional path into VC, rejected by traditional Sand Hill Road firms, only to build a powerhouse reputation through sheer technical credibility and founder empathy. Tim reveals the patterns behind disruptive infra companies, why most VCs can't help with product-market fit, and how he leverages his engineering background to win competitive deals.Whether you're a founder building the next foundational layer or an investor trying to understand the infra and AI boom, this conversation is packed with hard-won insights.The Open Source Resume (00:03:44)* How contributing to Apache projects (Drill, Cloud Foundry) built his career when a CS degree couldn't.* The moment he realized open source was a path to industry influence, not just a hobby.* Why the open source model is more “vertical than horizontal”, allowing deep contribution without corporate red tape.From Engineer to Founder: The Hyperpilot Journey (00:13:24)* Leaving Docker to start Hyperpilot and raising seed funding from NEA and Bessemer.* The harsh reality of founder responsibility: “It's not about the effort hard, it's about all the other things that has to go right.”* Learning from being “way too early to market” and the acquisition by Cloudera.The Unlikely Path into Venture Capital (00:26:07)* Rejected by top-tier VC firms for a job, then prompted to start his own fund via AngelList.* Starting with a $1M “Tim Chen Angel Fund” focused solely on infrastructure.* How Bain Capital's small anchor investment gave him the initial credibility.Building a Brand Through Focus & Reputation (00:30:42)* Why focusing exclusively on infrastructure was his “best blessing” creating a standout identity in a sparse field.* The reputation flywheel: Founders praising his help led to introductions from top-tier GPs and LPs.* StepStone reaching out for a commitment before he even had fund documents ready.The Essence VC Investment Philosophy (00:44:34)* Pattern Recognition: What he learned from witnessing the early days of Confluent, Databricks, and Docker.* Seeking Disruptors, Not Incrementalists: Backing founders who have a “non-common belief” that leads to a 10x better product (e.g., Modal Labs, Cursor, Warp).* Rethinking Sales & Traction: Why revenue-first playbooks don't apply in early-stage infra; comfort comes from technical co-building and roadmap planning.* The “Superpower”: Using his engineering background to pressure-test technical assumptions and timelines with founders.The Future of Infra & AI (00:52:09)* Infrastructure as an “enabler” for new application paradigms (real-time video, multimodal apps).* The coming democratization of building complex systems (the “next Netflix” built by smaller teams).* The shift from generalist backend engineers to specialists, enabled by new stacks and AI.Solo GP Life & Staying Relevant (00:54:55)* Why being a solo GP doesn't mean being a lone wolf; 20-30% of his time is spent syncing with other investors to learn.* The importance of continuous learning and adaptation in a fast-moving tech landscape.* His toolkit: Using portfolio company Clerky (a CRM) to manage workflow.About Timothy ChenFounder and Sole General Partner, Essence VCTimothy Chen is the Sole General Partner at Essence VC, a fund focused on early-stage infrastructure, AI, and open-source innovation. A three-time founder with an exit, his journey from Microsoft engineer to sought-after investor is a masterclass in building credibility through technical depth and founder-centric support. He has backed companies like Tabular, Iteratively, and Warp, and his insights are shaped by hundreds of conversations at the bleeding edge of infrastructure.Connect with Timothy Chen on LinkedIn: linkedin.com/in/timchenVisit the Essence VC Website: https://www.essencevc.fund/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

In this episode of Tank Talks, host Matt Cohen and recurring guest John Ruffolo kick off the new year with a true “only in 2026” combo: a front-row seat to a SpaceX Falcon 9 launch carrying Kepler Communications' satellites, followed by a hard reality check on Canada's venture capital slowdown. John breaks down what it felt like watching the rocket, the first-stage landing, and why Kepler's mission is bigger than a cool space flex: it's the early shape of space-based data centers and laser-linked networks.From there, Matt and John unpack an RBCx report arguing 2025 was Canada's worst VC fundraising year since 2016, and why “capital is fungible” is a comforting myth at the seed stage. They dig into how de-globalization and national self-interest are reshaping capital flows, why Canada is getting squeezed by the barbell effect in venture, and what policy levers (like a QSBS-style incentive) could actually restart domestic risk capital. The episode closes with two tension points that rhyme: Nvidia's $20B Groq (with a Q) deal showing how returns can flow outside Canada, and the escalating political drama of Trump's DOJ targeting Fed Chair Jerome Powell and what that uncertainty does to markets.If Canada can help put “data centers in the sky,” can it also build the domestic capital base to keep its best companies anchored at home?“A Data Center in the Sky” + Laser-Linked Networks (00:03:07)Kepler's satellites are positioned as more than comms hardware: think orbital compute + storage + real-time processing, with laser links connecting satellites like a network in space.The RBCx VC Report: 2025 Fundraising Hits a Low (00:05:51)Matt summarizes the report's headline numbers and why the pain concentrates on emerging managers and the long tail, not the handful of breakout founders who can raise anywhere.“Venture Investing Is Local” in a De-Globalizing World (00:08:39)John challenges the idea that foreign capital will fill gaps at the earliest stages. In this cycle, countries increasingly keep capital for their own ecosystems, making Canada's domestic shortage more dangerous.The Barbell Effect: Giants and Niche Funds Win, the Middle Gets Crushed (00:10:17)They outline how venture is polarizing into mega-platform funds and specialized micro-funds, while mid-sized generalists get squeezed, and why that dynamic is amplified in Canada.Nvidia's $20B Groq Deal and Canada's Return Profile (00:12:36)They break down the Groq (Q) story, Canadian ties among investors and operators, and the bigger question: if LPs can make outsized returns elsewhere, what keeps capital committed to Canada?Trump vs Powell: DOJ Pressure, Fed Independence, and Market Fallout (00:17:38)They react to the reported DOJ move against Jerome Powell, how even Republicans are uneasy about weaponization, and why political pressure campaigns tend to increase uncertainty, not lower it.Why Uncertainty Pushes Rates Up, Not Down (00:19:30)John's punchline: the intended outcome (lower costs, lower rates) can backfire as markets price in instability, and the Powell timeline may extend into a longer institutional fight.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 Michael Platt, CEO of Carma Corp., and lifelong friend, to explore his incredible journey from corporate lawyer to building and selling one of Canada's leading sub-metering companies.Michael shares how he transitioned from practicing law to launching a self-funded search fund, ultimately acquiring Carma Corp., a family-run business he scaled from 40,000 to over 135,000 customers nationwide. He opens up about the challenges of cold-calling owners, managing a solo search process, and living out of a motel during due diligence, all while learning the ropes of entrepreneurship on the fly.He also dives into the bold decisions that fueled Carma's growth, from strategic acquisitions like Priority Submetering and Spectrum Building Services to the recent landmark sale to CVC DIF. He reflects on lessons from missed deals, imposter syndrome, and why relationships are the real key to success in M&A.From humble beginnings to leading a national powerhouse, Michael's story is one of persistence, grit, and lifelong learning. Whether you're an aspiring entrepreneur, investor, or operator, this conversation offers an honest look at what it takes to go “all in” and build something extraordinary.From Corporate Law to Entrepreneurship (02:45)* Michael's roots in a family of lawyers, and his early career in corporate tax law.* The “non-merit-based” soft skills learned as a junior lawyer: preparation, punctuality, and clear communication.* The decision to supplement his skills with business courses leading him to a new path in management consulting.The Search Fund Journey: Going Rogue (10:17)* Why Michael chose the self-funded search path over the traditional model for greater flexibility.* The grueling process: building a team of unpaid analysts, sourcing thousands of leads, and the power of relentless follow-up.* The 23-month proprietary pursuit of Carma, including an 8-month stint living in a Lindsay motel to build trust and conduct diligence.Acquiring and Scaling Carma Corp (18:40)* Finding the right capital partner in Terranova Partners.* Stepping in as CEO and fostering a “soft landing” with the existing team.* The acquisition strategy that fueled growth: buying competitors like Priority Submetering and expanding services with Spectrum Building Services.* Scaling from 40 to 225 employees and from 40,000 to 135,000 customer accounts.Navigating a Landmark Sale to CVC DIF (31:44)* Recognizing the right time to sell and the decision to go to market.* The intense, year-long sale process: working with Jefferies, meeting global buyers, and running an auction.* Why CVC Dif was the ideal partner for Carma's next chapter.* The key takeaway: it takes a deep bench of advisors, investors, and a strong leadership team to reach the finish line.Lessons on Resilience and Building (35:25)* Michael's pride in what the team built and the people he built it with.* Advice for aspiring searchers: “You have to be all in” and hold yourself accountable.* The life lessons that guided him: “The Man in the Arena” and “This too shall pass.”About Michael PlattMichael Platt is a serial operator and entrepreneur. He is the CEO and visionary behind Carma Corp., a leading sub-metering provider in Canada. After a career in corporate law and management consulting, Michael successfully launched a search fund, acquired Carma, and scaled it dramatically before leading its successful sale to CVC DIF in a landmark deal. He remains dedicated to Carma's future growth as its CEO.Connect with Michael Platt on LinkedIn: https://www.linkedin.com/in/michael-plattVisit the Carma Corp. website: https://carmacorp.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

In this episode of Tank Talks, host Matt Cohen is joined by Avinash Chidambaram, the CEO of Cybrid, to dive into the evolving role of stablecoins in global trade. Avinash, a pioneer in the world of FinTech, shares his journey from working with Blackberry and Interac to leading Cybrid's mission to bridge stablecoins with traditional banking infrastructure. He discusses the growing importance of stablecoins as a fast, secure, and efficient method of cross-border payments, especially in an era marked by geopolitical tensions. Recurring guest John Ruffolo also joins the conversation to provide his expert perspective on the implications of stablecoin adoption and how it's reshaping the financial ecosystem globally.With insights into the regulatory shifts happening globally and the potential of blockchain to solve longstanding issues in the financial sector, this episode offers a deep dive into the future of money and its role in cross-border transactions. Whether you're a fintech enthusiast or a business leader looking to stay ahead of the curve, this conversation is packed with valuable insights.The Evolution of Payments & Stablecoin Adoption (04:55)From his experience at Blackberry and Interac, Avinash discusses the historical challenges of digital payments and how stablecoins are solving the efficiency problem.How Stablecoins Differ from Traditional Banking (06:08)Avinash compares traditional payment systems like Zelle and Interac with stablecoins, highlighting the advantages of decentralization and real-time settlement without intermediaries.The Role of Canadian Banks in the Stablecoin Revolution (10:23)Avinash discusses the role of Canadian banks in adopting stablecoin infrastructure, focusing on how they can enhance cross-border payments and gain a competitive edge.Tokenized Deposits vs. Stablecoins: What's the Difference? (13:36)John and Avinash explore the distinction between tokenized deposits and stablecoins, examining how both concepts will evolve in the Canadian market and globally.Stablecoin Interoperability & Global Trade (18:17)Avinash elaborates on the need for interoperable stablecoins, ensuring businesses can transact globally without the constraints of traditional payment systems.The Future of Stablecoin Integration with Traditional Financial Systems (22:44)How Cybrid's infrastructure is designed to bridge the gap between stablecoins and fiat currencies, enabling businesses to transact across multiple stablecoins and blockchains seamlessly.Banks vs. Crypto Platforms: Who Will Win the Stablecoin Battle? (25:59)Matt, Avinash, and John discuss the competition between traditional banks and crypto platforms like Coinbase, debating which will dominate the future of global payments.The Geopolitical and Economic Implications of Stablecoins (35:40)John discusses how stablecoin adoption is becoming a geopolitical issue, with countries like China and the U.S. influencing global trade through their stablecoin policies.The Shift in Financial Infrastructure & What's Next for Stablecoins (39:50)Avinash predicts the future of stablecoins in financial systems, highlighting how regulations and technological advancements will shape the industry's evolution.About Avinash ChidambaramAvinash Chidambaram is the co-founder and CEO of Cybrid, a Toronto-based fintech company that specializes in stablecoin infrastructure. With over two decades of experience in financial technology, Avinash has worked with top institutions like RBC, Scotiabank, and Blackberry. Under his leadership, Cybrid has grown rapidly and is playing a pivotal role in enabling faster, more secure cross-border payments through stablecoins.Connect with Avinash Chidambaram on LinkedIn: https://www.linkedin.com/in/avinashchidambaram/Visit the Cybrid website: https://cybrid.xyz/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 the final episode of 2025, Matt Cohen and John Ruffolo reflect on a turbulent year for technology, capital markets, and Canadian innovation, while looking ahead to the forces that will shape 2026. The conversation opens with Canada's largest private startup round of the year, a $1.76B raise by Toronto based HydroStar Energy Storage, and uses it as a springboard to examine the AI shakeout now underway. John describes the sector as entering a “forest fire” phase, where overfunded and undifferentiated companies fall away, creating room for stronger, more durable players to emerge.Matt and John then explore whether 2026 will finally mark a return of major tech IPOs, or whether the regulatory burden and liquidity options in private markets will keep companies like SpaceX, Stripe, and OpenAI on the sidelines. Despite interest rate cuts, the hosts argue capital markets remain constrained and selective.The discussion shifts to Canada's strategic priorities, including a growing focus on defense technology viewed through a dual use lens of sovereignty and innovation. As talent emigration rises and domestic risk capital lags, the episode closes with a clear warning. Without addressing capital access, taxation, and long term retention, Canada risks becoming a leaky boat, losing its builders and economic future to the United States.The 2025 AI Shakeout & The 2026 Forest Fire (02:06)John predicts a period of simultaneous “carnage” and opportunity in AI, comparing the market to a forest fire that burns the weak but creates fertile ground for the strong. They debate which companies are the true “sequoias” built to last.IPO or Bust? The Reluctant March to Public Markets (04:57)With rumors swirling around SpaceX, Anthropic, and OpenAI, Matt and John explore why 2026 might see major IPOs. John argues that many are driven not by ambition, but by investor pressure for liquidity, calling it a “panacea” for fund timelines rather than a strategic goal.Rate Cuts & Stagnation: Why Cheap Money Isn't Fixing Canada's Economy (07:28)Despite multiple rate cuts in 2025, investment activity remains sluggish. The hosts diagnose a holding pattern for Canada's economy, where further cuts risk devaluing the dollar without spurring meaningful productivity gains.Bullets, Bombs, and Blockchain: Canada's New Defense Tech Mandate (08:17)Matt highlights new government funds for defense tech. John reframes the spending as critical for “physical sovereignty” in a tech-driven Cold War, emphasizing the “dual-use” nature of investments in AI, quantum, and satellite technology.Predictions for 2026: Agents, Physical AI, and Nuclear's Comeback (11:23)The hosts share their forecasts: Matt bets on AI “agents” automating complex workflows and tangible ROI finally hitting enterprise software. John is bullish on “AI meeting the physical world” through robotics and autonomous machinery, and predicts a major comeback for nuclear energy.Canada's Leaky Boat: The Capital and Talent Retention Crisis (18:32)Addressing record-high emigration, John identifies the twin failures crippling Canadian innovation: a lack of domestic risk capital at scale and an uncompetitive personal tax regime. He warns that without urgent fixes in the next budget, the brain drain will accelerate, with U.S. capital actively pulling companies and founders south.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

Disturbing videos from Nick Reiner now resurfacing filmed inside the same home where Rob and Michele Reiner would later be found dead. Words that hit different now raising new questions about Nick's state of mind as we learn more about his life in recent months. Then, what a houseguest saw inside the Reiner home just weeks before everything changed. Plus, powerhouse attorneys Mark Garages and Marcia Clark break down what comes next. Is an insanity plea a likely play? And, is Riley Keough the biological mother of John Travolta's son? Riley's grandmother Priscilla Presley reacts to the shocking new lawsuit claims. Then, from coach to cultural phenomenon, and all new ET Then & Now with the voice of “SpongeBob's” Patrick, Bill Fagerbakke. Plus, Matt Cohen shows ET around his new home at “The Young and the Restless”. And, what's ahead on “Landman” as the show gets renewed for a season 3. We're with star Ali Larter channeling her character to bring holiday cheer. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

In this episode of Tank Talks, Matt Cohen and John Ruffolo break down a pivotal week for Canada's innovation economy. Microsoft's $7.5 billion investment in Canadian AI and cloud infrastructure sets the stage for a deeper discussion about whether foreign hyperscalers can genuinely support Canadian data and AI sovereignty under U.S. laws like the Cloud Act.John challenges the assumption that scale equals sovereignty, arguing for a more intentional strategy built through government procurement, layered infrastructure, and selective partnerships. The episode also examines Canada's new Quantum Champions program and the funding directed toward companies Anyon Systems, Xanadu, Photonic, and Nord Quantique, questioning whether current capital levels are enough to prevent Canadian breakthroughs from moving south.Layoffs across the consulting industry surface broader shifts in knowledge work, as information becomes increasingly commoditized in the age of AI. Matt and John discuss how trust, execution, and implementation are replacing traditional advisory models as the real sources of value. The episode closes with a collision of crypto and legacy power, as stablecoin issuer Tether pursues a controlling stake in Juventus, raising new questions about regulation, asset backing, and trust.As foreign capital pours in and domestic funding lags, how much control does Canada actually retain?Microsoft's $7.5B Canadian AI Investment & the Sovereignty Question (01:04)Microsoft announces a massive investment to expand AI and cloud infrastructure in Canada. Matt and John unpack why foreign capital is welcome, but claims of “sovereign AI” raise serious concerns under the U.S. Cloud Act and data jurisdiction realities.Sovereign Compute Strategy: Procurement Over Promises (04:39)John outlines how Canada could realistically build sovereign compute capacity by breaking the stack into layers, using government procurement to back domestic players, and making intentional choices about allies, chips, and infrastructure.Canada's Quantum Champions Program: A Signal or a Solution? (07:49)The federal government commits funding to four Canadian quantum startups, including Xanadu. The discussion explores whether milestone-based funding is enough or if Canada risks losing its quantum leaders to U.S. capital markets again.Why Canadian Capital Isn't Backing Its Winners (09:04)Xanadu's SPAC decision becomes a case study in Canada's capital formation problem. John explains why strong companies still struggle to raise meaningful domestic capital and what that means for long-term value creation.Consulting Firms Face Layoffs as Demand Shifts (11:36)McKinsey and other professional services firms prepare for significant job cuts. Matt and John discuss overhiring during COVID, slowing demand, and how AI is compressing the value of information-based consulting.The End of the Traditional Consulting Pyramid (14:07)AI-driven efficiency challenges the apprenticeship model. The conversation explores why implementation and trust now matter more than slide decks and why junior-heavy consulting structures may no longer work.Forward-Deployed Engineers & New Service Models (16:17)From Palantir's FDE approach to new AI-enabled services firms, Matt highlights how execution-first models are eroding traditional consulting margins and reshaping enterprise problem-solving.Crypto Meets European Dynasties: Tether & Juventus (19:00)Tether's attempted acquisition of Juventus sparks debate around stablecoin backing, asset quality, and trust. John questions whether a treasury-backed stablecoin should ever be tied to assets like football clubs.Trust as the Core Currency of the AI Era (21:03)The episode closes with a clear takeaway: information is cheap, execution is hard, and trust is everything, from sovereign infrastructure to consulting, investing, and crypto.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 global venture capitalist Alex Lazarow, founder of Fluent Ventures, to unpack the future of early-stage investing as AI, globalization, and shifting economic forces reshape the startup landscape. Alex brings a rare perspective shaped by 20+ markets across Africa, Latin America, Europe, and Asia, plus experience backing seven unicorns, from Chime to breakout fintechs worldwide.Alex shares insights from his unconventional path from academia-curious economist to McKinsey consultant, impact investor at Omidyar Network, partner at global firm Cathay Innovation, and now solo GP building a research-driven, globally distributed early-stage fund. He dives into why the best startup ideas no longer come from one geography, why AI has permanently rewritten the cost structure of company building, and how proven business models are being successfully reinvented in emerging markets and then exported back to the U.S.He also breaks down why small businesses may become more powerful than ever, the rise of “camel startups,” and what founders everywhere must understand about raising capital in a world where early traction matters more than ever.Whether you are a founder, operator, or investor navigating the next era of innovation, this conversation reveals how global patterns, AI tailwinds, and disciplined research can uncover tomorrow's winners.From Winnipeg to Wall Street: Early Career Lessons (00:01:17)* Alex reflects on growing up in Winnipeg and navigating a multicultural family background.* How early roles at RBC M&A and the Bank of Canada shaped his analytical lens.* Why he pursued economics, consulting, and academia before landing in venture.* The value of testing career hypotheses instead of blindly following one path.Building a Global Perspective Through McKinsey (00:06:42)* Alex describes working in 20 markets, from Tunisia during the revolution to Indonesia and Brazil.* Why exposure to varied cultures and economies sharpened his ability to spot emerging global patterns.* The framework he used to choose projects: people, content, geography.Entering Venture Through Impact Investing (00:08:05)* Joining Omidyar Network to explore fintech innovation and financial inclusion.* Early exposure to global mobile banking and super-app models.* The origin story behind investing in Chime.* Why mission-driven investing shaped his lifelong global investment thesis.Scaling Globally at Cathay Innovation (00:13:14)* Transitioning into a traditional VC role after Omidyar.* Helping scale Cathay from a $287M fund to nearly $1B.* Why he eventually left to build a more focused, research-driven early-stage fund.The Fluent Ventures Thesis: Proven Models, Global Arbitrage (00:16:45)* Fluent backs founders who take validated business models and execute them in new geographies or industries.* Investing between pre-seed and Series A with a tightly defined “10 business model portfolio.”* Why their TAM is intentionally much smaller, only 200–500 companies worth meeting each quarter.* Leveraging a network of 50 unicorn founders and global VCs to discover breakout teams early.Why AI Is Reshaping Early-Stage Investing (00:23:01)* AI has dramatically reduced the cost of building early products.* Increasingly, startups raise capital after launching revenue not before.* The new risk: foundational AI models may “eat” many SaaS products.* What types of companies will survive AI disruption.The Camel Startup & The Great Diffusion (00:28:14)* The “camel startup” concept: resilient, capital-efficient companies built outside Silicon Valley norms.* How software (and now AI) lets small companies “rent scale” once only available to big enterprises.* Why the next decade will favor startups that focus on durability, not blitzscaling.Why Silicon Valley Still Matters, Even for Global Founders (00:32:47)* Alex encourages founders to build in their home markets but visit Silicon Valley to raise capital and absorb cutting-edge ideas.* How one founder raised SF-level valuations while building in the Midwest.* The “global arbitrage” advantage: raise capital where it's abundant, build where costs are low.Where Global Markets Are Leading Innovation (00:35:41)* Why Japan is 5–10 years ahead in generational small-business transitions.Examples of B2B marketplace models thriving in India and now being imported to the U.S.* How construction marketplaces, industrial marketplaces, and embedded fintech platforms are spreading across continents.About Alex LazarowAlex Lazarow is the founder and Managing Partner of Fluent Ventures, an early-stage global venture fund investing in proven business models across fintech, commerce enablement, and digital health. A veteran global investor, Alex has backed seven unicorns, authored the award-winning book Out-Innovate, and previously invested at Omidyar Network and Cathay Innovation. He has worked in more than 20 countries and teaches entrepreneurship at Middlebury Institute.Connect with Alex Lazarow on LinkedIn: linkedin.com/in/alexandrelazarowVisit the Fluent Ventures website: https://www.fluent.vc/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

In this episode of Tank Talks, Matt Cohen is joined by Samir Kaji, CEO and Co-Founder of Allocate, to break down the explosive growth of private market investing and why trillions in new capital are about to reshape the entire wealth ecosystem. Fresh off a $30.5M Series B, Samir unpacks how Allocate is building the missing infrastructure connecting fund managers, RIAs, and the next generation of investors, solving the painful workflows, broken data pipes, and manual processes still holding the industry back. From intelligent deal discovery and auto-filled subscriptions to AI-powered diligence and portfolio personalization, Samir explains how technology will unlock access, efficiency, and liquidity at scale for both advisors and allocators.He also dives deep into the current venture cycle, the AI valuation frenzy, and the widening gap between mega-funds and emerging managers. Samir gives an unfiltered look at where the real opportunities lie, why liquidity is the next trillion-dollar unlock, how secondaries will redefine private markets, and what investors should be watching heading into 2030. If you want to understand where private markets, wealth management, and alternative investing are truly headed, this episode is essential listening.The Origin Story: 25 Years Watching the Market Shift (03:09)* Samir's work at SVB and First Republic observing the decline of IPOs* Cloud computing's impact on fund proliferation* Early signs that private markets needed new infrastructure* How HNWIs and family offices began demanding access decades before the rails existedWhy Allocate Exists & What It Actually Solves (07:04)* The fragmented “dark forest” problem of GP RIA connectivity* Why wealth advisors can't scale alt allocations using PDFs and lawyers* The three pillars of AllocateHow Advisors Use Allocate to Scale 10x Without Adding Headcount (14:18)* Auto-filled subs, KYC, allocation setup, client mapping* Helping advisors serve all 150 clients, not just the top 20%* Improving revenue while slashing operational dragUnlocking Liquidity: The Biggest Missing Piece of Private Markets (21:16)* Why secondaries are essential for opening the wealth channel* Borrowing against private fund positions* How tech will reduce massive bid-ask spreads* Why liquidity options will double alt allocations from 5% → 10-30% over timeAI's Real Role in Private Markets (25:20)* AI as the intelligence layer for discovery, diligence & personalization* Uploading 10 fund decks → receiving full breakdowns in minutes* Why workflows, not chatbots, will unlock trillions* Execution, payments & portfolio modeling going from days to secondsThe State of Venture Capital in 2025 (32:17)* Why today's market is “the extreme Tale of Two Cities”* AI startups raising at insane velocity vs. great non-AI companies starving* Why 90% of AI companies won't justify valuations* Seed funds getting squeezed by mega-funds writing “option checks”* How emerging managers can still win (go earlier or niche down hard)Founder Discipline, Revenue per Head, & the New Efficiency Era (40:06)* Revenue-per-employee as the new defining KPI* Why scarcity birthed a healthier generation of founders* Companies going from 5 → 50 → back to 20 employees* Running lean with AI as leverage instead of headcountAbout Samir KajiSamir Kaji is the Co-Founder and CEO of Allocate, a platform revolutionizing how investors access and manage private market investments. With a career in venture banking spanning over two decades at Silicon Valley Bank and First Republic, Samir has an unparalleled view of the venture capital and private equity landscapes. He is also a Kauffman Fellow, the host of the Venture Unlocked podcast, and a personal investor in companies like Carta and Reddit. He remains dedicated to Allocate's mission of making the private markets as transparent and responsible as the public markets.Connect with Samir Kaji on LinkedIn: https://www.linkedin.com/in/samirkajiVisit the Allocate website: https://allocate.co/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

In this episode of Tank Talks, host Matt Cohen sits down with Chris Canavan, founder and general manager of Canavan Private Wealth, to unpack one of the most confusing and emotionally charged chapters in a founder's journey: life after the liquidity event.Chris brings thirty years of global institutional and private office experience to the table, but his superpower is not managing money. It is designing and running the system around a founder's wealth. After watching countless entrepreneurs exit their companies only to be overwhelmed by advisors, decisions, documents, and emotional pressure, Chris built a model that restores clarity, control, and purpose.He explains how founders lose sight of their instincts amid a fire hose of new advisors promising the world, why trust erodes so quickly after a deal closes, and how fragmented systems lead to panic, confusion, and poor decisions. Chris breaks down the architecture of a modern private office, why most founders rely on sticky notes and spreadsheets, and how his closed-loop operational model gives founders their time back.From early warning signs of wealth fragmentation, to the psychological crash founders face when purpose suddenly disappears, to his triage process for investment opportunities, Chris delivers a brutally honest guide to navigating life after the big exit.Whether you are preparing for a liquidity event or already living through the post-sale fog, this episode shows you what founders get wrong, what they must put in place, and how to build a system that supports your next chapter rather than suffocates it.Spotting the Gaps: Managing the System, Not the Money (03:38)* How advisory silos fail ultra-high net worth individuals* Why communication, not talent, is the biggest weakness in wealth management* The role of the generalist who understands every silo deeply enough to connect them* Why founders need someone three to seven feet deep across all disciplinesFinding the Right Clients and Building Trust-Based Relationships (07:06)* Why fit, values, and authenticity matter more than money* How Chris screens clients who actually want to be helped* Why some founders treat advisors like commodities and how that destroys outcomes* Building long-lasting relationships built on accountability and transparencyManaging Founder Emotions and Behaviors Post-Exit (09:00)* Founders are used to speed, scale, and instant execution* Why slowing down is the hardest adjustment* How Chris handles frustration, urgency, and emotional volatility* The importance of respect and boundaries when multiple advisors and egos collideEarly Warning Signs of Wealth Fragmentation (16:21)* When day-to-day tasks start consuming founder's mental bandwidth* The “black flies in cottage country” analogy* Why founders lose the ability to focus on what matters* The fire hose of advisors and opportunities after an exitHow Chris Evaluates Investment Opportunities for Clients (25:09)* Pain reliever vs. gain creator: the framework for evaluating pitches* Why relationships and trust matter more than projected returns* How Chris filters noise before presenting anything to a founder* The story-first, numbers-second diligence processThe Psychological Crash After a Big Exit (28:17)* Why life will never be the same after selling a company* How society begins to define founders by the name of their exit* The loneliness and loss of identity that shock new millionaires* Why every human needs a sense of purpose to avoid emotional collapseBecoming a Project Manager of Your Own Life (31:45)* Why successful entrepreneurs struggle when their team disappears* Trust-building, listening, and meeting founders where they areHow Chris transitions from advisor to integratorWhy trust cannot be demanded, only earned over timeAdvice for Founders Preparing for an Exit (36:48)* Why founders must build structure before signing final documents* The danger of early engagement with performance-focused advisors* Why founders need an unconflicted advisory boardHow to breathe, slow down, and avoid urgency-driven decisionsThe Future of Private Wealth for Canadian Founders (40:10)* Why founders will disrupt the private office industry* The coming shift from advice to execution* How operational efficiency will redefine wealth managemen* The democratization of systems once reserved for legacy familiesAbout Chris CanavanChris Canavan is the founder and General Manager of Canavan Private Wealth, a private office that provides institutional discipline and operational clarity to ultra-high-net-worth individuals. With a background at global institutions and Big Four firms, Chris specializes in helping founders navigate the complex transition after a liquidity event by managing the systems around their wealth, coordinating advisors, and helping them find renewed purpose.Connect with Chris Canavan on LinkedIn: https://www.linkedin.com/in/chrislcanavan/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

In this episode of Tank Talks, host Matt Cohen is joined by John Ruffolo for an in-depth discussion on the latest business innovation news, cutting-edge tech developments, and disruptive market shifts that are shaping the global innovation economy. From game-changing legal tech acquisitions to the next big wave in quantum computing, the two break down the trends transforming Canadian fintech and the rise of stablecoin regulation. They also dive deep into AI advancements, big tech strategies, and the future of payments, offering fresh insights and actionable takeaways.Clio's Billion-Dollar Acquisition & Vertical Expansion in Legal Tech (01:38)In a major legal tech acquisition, Clio secures a $5 billion valuation following its acquisition of vLex, expanding its role as a dominant player in the legal technology sector. Matt and John discuss how this deal positions Clio alongside industry giants like Thomson Reuters and LexisNexis and explore the risks and rewards of a vertical integration strategy.Toronto's Quantum Tech Breakthrough: SPAC Merger with Crane Harbor (05:11)Toronto-based Xanadu Quantum Technologies makes headlines with its SPAC merger with Crane Harbor Acquisition Corp., paving the way for the first-ever Canadian quantum tech debut on the TSX and NASDAQ. John shares exclusive insights into the company's growth trajectory and how the merger will impact the quantum computing industry.Elon Musk's Trillion-Dollar CEO Package: Will He Become the First Trillionaire? (09:05)Matt and John dive into the details of Elon Musk's massive CEO package, designed to potentially turn him into the first trillionaire. They analyze the massive financial goals Musk must achieve and the broader economic impact this deal could have on industries like electric vehicles, space tech, and AI innovation.Google and Apple's AI Partnership: What Does It Mean for Siri? (12:21)A landmark deal between Google and Apple will see Google's Gemini AI powering Siri's next-generation intelligence. Matt and John discuss the implications of this collaboration for artificial intelligence, cloud computing, and the future of voice assistants in the consumer tech market.Robinhood's New AI Fund: The Risks of Retail Investor FOMO (15:14)In a bold move, Robinhood announces plans to give retail investors access to private AI companies. While this could open up private equity investments to the masses, Matt and John debate the risks of retail investor FOMO and the potential impact of AI investment bubbles on individual portfolios.Visa & Mastercard Lowering Interchange Fees: The Impact on Credit Card Rewards (16:39)In a significant shift, Visa and Mastercard are negotiating a deal to lower interchange fees, a change that could fundamentally alter the credit card rewards system. John explains the long-term effects on merchant relationships, consumer rewards, and the potential disruption of traditional payment systems as blockchain technologies emerge.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 is joined by John Ruffolo and special guest Mark McQueen, Founder of Wellington Growth Partners and one of Canada's leading voices on capital markets and policy, as they dive into Canada's 2025 Federal Budget. Together, they unpack the implications of Ottawa's newly tabled “Building a Stronger Canada” budget, one that promises $1 trillion in investment over five years, with a heavy focus on productivity, infrastructure, defense, and innovation.The three dissect everything from the $78B deficit and 40,000 public service cuts, to new measures for AI, fintech, and open banking. Mark brings a pragmatic lens to the table, calling out where policy meets politics, and where Canada's ambitions fall short compared to U.S. spending.They debate whether this really is the “FinTech Budget,” explore the Bank of Canada's new stablecoin oversight, and discuss how Canada's pension funds, capital markets, and innovation ecosystem might respond. The conversation also touches on AI infrastructure, quantum tech, and the Build Canada Exchange, before ending with an analysis of the surprise party floor crossing in Parliament and what it signals about political volatility ahead of the next election.This is a data-driven, no-spin breakdown of the biggest budget in Canadian history, filled with insights for founders, investors, and policymakers navigating the next decade of Canadian innovation.Market Reactions and Fiscal Discipline (01:51)* How the bond market's muted reaction signals investor confidence* What a 3.07% 10-year yield says about fiscal credibilityPolitical Optics and Policy Recycling (03:16)* Mark's take on why budget speeches feel like déjà vu from 2016* How repeating “middle-class growth” messaging masks deeper issuesCanada's AI Spending Reality Check (05:39)* $186M in new AI funding versus $207B in U.S. venture capital* Mark calls Canada's AI plan a “rounding error” in global competitionHousing, Media, and Missed Opportunities (07:26)* Why Canada's housing policy still taxes development and stifles growth* How inflated consultant costs drain infrastructure progressPrivate Capital and the $500B Question (08:51)* Mark explains why private-sector “recycling” of assets rarely works as advertised* The hidden costs behind selling public infrastructureThe Rise of the FinTech Budget (13:15)* John calls this the “FinTech Budget” for its zero-cost innovation plays* How open banking and stablecoin regulation could unlock private innovationPolicy Over Capital: A New Model (14:46)* Why regulation, not spending, may be the most powerful innovation tool* How Minister Champagne's policy shift empowers private playersThe Stablecoin Debate (17:46)* John explains tokenization and one-for-one backing of digital assets* Mark questions whether consumers can truly distinguish trust in DeFiCanada's Shot at Becoming “Switzerland of DeFi” (21:01)* How upcoming legislation could make Canada a global leader in digital finance* Why trust, not capital, is Canada's biggest competitive advantageWhy Execution Matters More Than Promises (27:04)* Matt, John, and Mark close with a reality check: policy means nothing without follow-through* Why 2025 will test whether the government can turn big ideas into real resultsAbout Mark McQueenMark McQueen is a veteran Canadian venture capitalist, financial commentator, and former Chair of the Toronto Port Authority. As President and Executive Managing Director of Wellington Financial LP, he has financed hundreds of high-growth companies across North America and is known for his sharp insights into capital markets, infrastructure, and public policy. A regular contributor to BNN Bloomberg and The Toronto Star, Mark offers a pragmatic, data-driven perspective on how fiscal decisions and government budgets shape Canada's innovation economy.Connect with Mark McQueen on LinkedIn: https://www.linkedin.com/in/mark-r-mcqueen/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

Six years ago, I launched a new venue, The Jake's Take with Jacob Elyachar Podcast. The podcast has welcomed guests across the entertainment and lifestyle industries.   The guests have ranged from Emmy-winning journalists such as Anne Trujillo, Elex Michaelson, and Michael Mackie, and Emmy-winning actor Mike Manning, to Tony-winning producer Evan McGill and Reality TV legends such as Beth Stolarczyk, Derrick Kosinski, Ethan Zohn, Jon Brennan, Mark Long, Rachel Reilly, Rob Cesternino, and Syrus Yarbrough.  I am incredibly grateful to all the publicists and talent management teams who trusted me with their clients.  I am grateful for the friendships that I built along the way with my podcasting colleagues and guests. They include my friends over at AGT Time Pod, Brent Wolgamott (who was my first guest), Challenge Historian's Jacob, Challenge Mania's Derrick and Scott Yager, Drew Angelman, Josh Skinner, Matt Cohen, Mike Lewis, Paige of Most Likely & TikTok, Tony Berado, and Wes of Thinking Critical.  I want to thank my dear friends and family who supported my podcasting journey, especially my mom, Gloria, my dad, Matthew, my brother, Aaron, my sister-in-law, Whitney, my nephew, Nash, my nieces, Emory and Kennedy, and my doggy nephew, Maxwell.   Finally—and most importantly—I want to thank you—the listeners from over 80 countries—for taking time out of your schedules to watch and listen to my content! I am grateful for your continuous support.  For my sixth anniversary episode, I am delighted to welcome my longtime friend, Becky Wilson! Becky runs WDS Marketing and Public Relations. WDS is a boutique agency with a unique and proven niche. Their focus is on helping savvy entrepreneurs and clever business owners tell their stories. Results included increased awareness, enhanced credibility, and new relationships in the business community.  Becky leverages media, accolades, events, and other prime opportunities to elevate client brands and help them become known in the most positive, dynamic, and delightful ways.   WDS received honors from the Kansas City Business Marketing Association's Fountain Awards program and the Kansas City Public Relations Society's Prism Awards. Becky Wilson has been honored twice by the U.S. Small Business Administration as a regional “Women Business Champion.”She is the co-founder of the Kansas City Council of Women Business Owners (KC-CWBO), which was designated as one of the most outstanding women's business organizations in the United States by the Stevie Awards for Women in Business.   WDS offers pro bono and discounted services to select nonprofit and business organizations each year. We have recently assisted the Samuel U. Rodgers Health Center, the Center for Spirit at Work, and the KC-CWBO. They also volunteer for committee work and currently serve on the membership committee of the Asian American Chamber of Commerce of Kansas City.  On the latest edition of The Jake's Take with Jacob Elyachar Podcast, Becky Wilson shared WDS Marketing and Public Relations' origin story. She also talked about her passion for America's Got Talent (AGT). Become a supporter of this podcast: https://www.spreaker.com/podcast/jake-s-take-with-jacob-elyachar--4112003/support.

In this episode of Tank Talks, host Matt Cohen sits down with Roberto Bellini, Co-Founder of BSQUARED Capital and former CEO of Bellus Health, for a powerful conversation about family, legacy, and resilience in the world of biotech.Originally recorded just two weeks before the passing of his father, Dr. Francesco Bellini, one of the founding giants of Canadian biotech, this re-recorded episode serves as a moving tribute to the man known as “Mr. Biotech Canada.” Roberto opens up about what it was like growing up under the guidance of such a visionary figure and how that experience shaped his own path as an entrepreneur and leader.He reflects on the highs and lows of leading Bellus Health, from moments of near collapse to its remarkable $2 billion acquisition by GSK, sharing lessons on risk-taking, perseverance, and the importance of staying grounded through uncertainty. Roberto also offers his perspective on the future of Canadian biotech, highlighting the need for stronger late-stage funding and how BSquared Capital is helping to cultivate the next generation of innovators.This episode isn't just about business success; it's about honoring a legacy, learning through adversity, and discovering what it truly means to build something that endures.The Legacy of Dr. Francesco Bellini (00:02:52)* Francesco Bellini's incredible immigrant story: from arriving in Canada with nothing to a $6B biotech exit.* Business was the family's dinner table conversation, and attending AGMs as a child.* The founding of Biochem Pharma and the discovery of the groundbreaking HIV treatment.* “He was a visionary... he saw things before other people saw them.”Growing Up in Biotech (00:06:30)* Roberto's early memories of board meetings and dinner-table business lessons* How being “in the room” shaped his entrepreneurial mindset* Watching a $6B biotech deal become part of family historyThe Rise, Fall, and Rebirth of Bellus Health (00:08:27)* Roberto's journey from family office analyst to a 30-year-old, first-time CEO of a public company.* The devastating failure of the phase three trial for a rare kidney disease.* Inside a Biotech Failure: The intense, weekend-long “war room” process of unblinding clinical trial data and preparing for a public announcement.The Second Act: Finding the Cough Drug (00:13:47)* Discovering a promising molecule through the NeoMed Institute* Betting the company's future on a last-chance asset* Raising $20M when no one believed and turning it into a $2B successNegotiating the GSK Deal (00:24:45)* The strategic shift from “build-to-sell” to “build-to-scale”, positioning the company for a premium acquisition.* The M&A Playbook: Why you should never lead with a desire to sell; the importance of building for independence.* The high-stakes negotiation with GSK: going from an $11 offer to $14.75, almost losing the deal, and the “mellow tone” that saved it.* The entrepreneur's dilemma: “Every single entrepreneur I've met that sold their company, there's always a moment of not wanting to do it.”Building Canada's Biotech Future (00:30:11)* Why Canada has the innovation but lacks the enduring biotech giants.* The critical gap: The need for more late-stage capital and the role of Canadian pension funds.* The “Gilead of the North” vision: Creating a virtuous cycle of capital, entrepreneurs, and translational science.* Upcoming trends: The convergence of AI and drug discovery to de-risk development and lower costs.Beyond the Lab: Leadership, Risk, and Legacy (00:46:20)* Learning to embrace risk and find joy in reinvention* The best advice from Dr. B: “Spend your money, it'll make you want to earn more.”* Why true success isn't just building a company, but building peopleAbout Roberto BelliniFounder & Managing Partner, BSQUARED CapitalRoberto Bellini is a second-generation biotech entrepreneur and investor. As the former CEO of Bellus Health, he led the company's dramatic turnaround and eventual $2 billion acquisition by GSK. Drawing on his deep operational experience in drug development, he now co-manages BSQUARED Capital, a family office focused on investing in and supporting promising biotech ventures. He is a passionate advocate for building a stronger, more resilient biotech ecosystem in Canada.Connect with Roberto Bellini on LinkedIn: https://www.linkedin.com/in/robertobellini/Visit BSQUARED Capital Website: https://bsq-c.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

In this episode of Tank Talks, host Matt Cohen is joined by John Ruffolo to break down the week's biggest stories shaping the innovation economy. From the Bank of Canada's surprise rate cut to Meta's $200B market crash, and the rise of Canada's fintech and stablecoin revolution. They kick off with a spotlight on Waterloo's AI-powered baseball tech that's changing Major League play, before unpacking the renewed U.S.-Canada tariff tensions and what the Bank's fourth rate cut signals for inflation, growth, and fiscal strategy ahead of the November 4th budget. The two also dive deep into the stablecoin boom, Mastercard's $2B bet on crypto infrastructure, and how Ottawa is scrambling to keep pace with the U.S. Genius Act and its implications for the future of Canadian payments.Matt and John then turn to Wealthsimple's record-breaking $10B valuation and what it means for Canada's domestic market opportunity, before dissecting Meta's controversial accounting maneuvers that wiped out $200B in market cap. They close by exploring OpenAI's trillion-dollar restructuring, Microsoft's 20x return on investment, and the race among tech giants to fund the next phase of AI infrastructure. It's a sharp, data-packed Rundown filled with fresh insights on capital markets, emerging technologies, and the power shifts redefining global innovation.Waterloo's AI Baseball Revolution (01:08)* How a University of Waterloo startup is changing the game with AI-powered pitching machines* The rise of Tradex Sports and MLB's tech adoption* What this means for Canada's sports innovation ecosystemU.S.-Canada Tariff Tensions Rise Again (03:25)* The Senate votes to nullify tariffs on Canada, but Trump's volatility looms large* The politics behind tariff rollbacks* Why Canada's “elbows up” strategy backfired* What this means for trade and cross-border investorsBank of Canada's Fourth Rate Cut (06:33)* Governor Tiff Macklem cuts rates by 25bps. Is this the end of the easing cycle?* Inflation, weak GDP, and the limits of monetary policy* Why fiscal stimulus might be the only lever left* What to watch on November 4th as markets reactCanada's Stablecoin Race Heats Up (09:10)* Stablecoins triple Visa's volume: Can Canada keep up with the U.S.?* Mastercard eyes $2B Zero Hash acquisition* Inside Ottawa's urgent push for stablecoin regulation* The rise of “sovereign blockchains” and real-time railsThe Future of Payments Canada (14:34)* Why the nation's 10-year-late “Real-Time Rails” might already be outdated* How blockchain will reshape payment infrastructure* The hidden trillions moving on ancient financial railsWealthsimple's $10B Milestone (16:17)* A Canadian fintech unicorn doubles its assets in one year* Lessons from its Series E and $750M raise* Why Canada's domestic market is finally worth betting onMeta's $200B Accounting Meltdown (20:04)* Zuckerberg's AI spending spree and the fallout from “funny accounting”* Why investors are calling out Meta's SPV strategy* What this says about the next phase of Big Tech CapEx warsOpenAI's $1 Trillion Restructure (24:06)* Inside the new deal that redefines AI ownership and governance* How Microsoft turned a $13B bet into a 10x gain* Why this could become the most lucrative investment in tech historyConnect 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 Sameer Dhar, Co-Founder and CEO of NiaHealth, to explore how proactive healthcare is reshaping the future of medicine.Sameer shares his remarkable journey from living in nursing homes for a year while building his first startup (Sensassure) to launching NiaHealth, a Canadian health-tech company empowering people to take ownership of their longevity through AI-driven diagnostics and personalized insights.With over $8 million in funding and a 12,000-person waitlist, NiaHealth is building a clinician-first model that complements Canada's public system, helping users prevent disease decades before it develops. Sameer also discusses why prevention, not treatment, must drive the next wave of healthcare innovation, how AI will augment rather than replace clinicians, and what it takes to build a mission-driven company in a regulated industry.Whether you're a founder, investor, or health enthusiast, this conversation reveals how the next generation of health tech startups can blend AI, clinical integrity, and human empathy to create lasting impact.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.The Entrepreneurial Spark (05:52)* How the Next 36 program transformed Sameer from a finance student into a founder* The power of founder-focused education in shaping Canada's startup ecosystem* Lessons from learning to “think like a builder” instead of an employeeFrom Customer Discovery to Conviction (10:46)* How customer discovery can turn into “analysis paralysis” if you never act* Why true innovation means taking bold bets, not just collecting insights* The importance of timing when moving from research to executionBuilding NiaHealth (13:26)* The personal mission to keep people healthy long before disease develops* How the pandemic revealed gaps in personal healthcare ownership* The evolution of NiaHealth into a platform offering advanced diagnostics, clinician reviews, and personalized longevity plansIntegrating with the System (17:12)* Why NiaHealth chose a “clinician-first” model rather than going fully digital* How nurse practitioners bridge the gap between data and diagnosis* The importance of integrating with Canada's public system to maintain trustTrust and Transparency (22:51)* Addressing criticism about private healthcare models in Canada* Why NiaHealth avoids affiliate sales to maintain clinical integrity* The company's research-led approach to responsible, evidence-based testingFilling the System's Blind Spots (26:13)* Canada's biggest blind spot: a reactive healthcare model built around disease* How prevention and early diagnostics reduce system strain and save lives* The mission to empower users to act on health risks decades in advanceAI as an Enhancer, Not a Replacement (29:16)* Why Sameer believes AI should support, not replace, clinicians* How AI enhances diagnostic accuracy and clinician productivity* The role of empathy and human connection in patient outcomesScaling Impact (33:11)* NiaHealth's vision to reach 100,000 Canadians by the end of next year* Partnering with insurers and governments to expand preventative care* Why a “built in Canada, for Canada” strategy is key to long-term successAbout Sameer DharSameer Dhar is the Co-Founder and CEO of Nia Health, a serial entrepreneur and health-tech innovator recognized among Canada's Top 20 Under 20 and Edmonton's Top 40 Under 40. He previously founded Sensassure, an elder-care technology startup acquired by global health leader Essity.Connect with Sameer Dhar on LinkedIn: https://www.linkedin.com/in/sameerdhar/Visit the NiaHealth website: https://www.niahealth.co/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

In this episode of Tank Talks, host Matt Cohen and John Ruffolo break down the most important stories shaping Canada's innovation economy, from the upcoming federal budget and its impact on founders and investors, to Canada's fintech shake-up as open banking finally gains momentum.The duo dives into AI's growing legal minefield, including the mounting lawsuits against Perplexity and Sora, and discusses what this means for startups training models on licensed versus unlicensed data. They also unpack Cohere's rumored IPO, Canada's AI partnership with the UAE, and what it reveals about the country's global strategy for data centers and sovereign capital.From Blue Jays playoff economics to AI data sovereignty, this Rundown is packed with sharp insights, timely analysis, and the kind of candid commentary you won't hear anywhere else.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.Canada's Make-or-Break Federal Budget (08:46)With the federal budget weeks away, John calls this the Liberal government's credibility test, a defining moment for innovation, R&D reform, and fiscal discipline.* The state of Canada's finances and investor sentiment* Expectations for R&D tax credit and AI policy reform* Why “good ideas” might not matter if the fiscal hole is too deepOpen Banking Finally Gets Real (12:55)The Bank of Canada registers 300 new payment service providers, marking a major milestone for Canada's fintech ecosystem.* How this could shake up the Big 5 banks' oligopoly* Why Wealthsimple, Shopify, and Koho stand to gain* John's take on trust, liquidity, and the future of financial competitionCanada-UAE AI Investment Deal (15:34)AI Minister Evan Solomon signs a non-binding MOU with the UAE on data center investment. Is this a real opportunity or political theater?* What “non-binding” really means for Canada's capital strategy* Mark Carney's push to diversify trade away from the U.S.* Why every major country is chasing sovereign data capitalCohere's IPO Tease and the AI Hype Cycle (18:11)Cohere's CEO Aidan Gomez hints at “going public soon.” Matt and John weigh the risks and timing of an AI IPO in a frothy market.* Lessons from the Faire America IPO and $16B valuations with no assets* The pressure of capital requirements in AI infrastructure* Why timing the public markets almost never worksAI Lawsuits, IP Infringement, and Data Licensing Wars (20:48)From Reddit vs Perplexity to Hollywood vs. Sora, Matt and John break down the growing AI legal battles over content rights.* The global IP divide: what happens when China ignores licensing rules* Why only the biggest players can afford compliance* The coming “Rule of Three” in the AI data economyConnect 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

People don't really think of DC as a Friday Night Lights kinda town, but it actually has a pretty robust high school football scene, with big crowds turning local games into a scene. Until this year, at least: The DCPS season has been upended by a bunch of fights in the stands – which has led to night games being curtailed and the whole atmosphere being less fun. The Washington Post's Matt Cohen is here to give us the blow by blow — and also tell us where in town you can still have a good time taking in a game.  Want some more DC news? Then make sure to sign up for our morning newsletter Hey DC. You can also become a member, with ad-free listening, for as little as $10 a month. Learn more about the sponsors of this October 16th episode: Public Welfare Foundation National Center for Victims of Crime Babbel - Get up to 55% off at Babbel.com/CITYCAST Interested in advertising with City Cast? Find more info HERE.

In this episode of Tank Talks, Matt Cohen is joined by James Baskin, Founder and CEO of ZeroStone AI, to explore how businesses can transition from AI experimentation to real-world impact. James, a three-time founder with multiple successful exits, shares his journey from engineering at the University of Toronto to building and selling telecom ventures alongside Globalive's Anthony Lacavera. He offers valuable insights into leadership, resilience, and overcoming imposter syndrome.Drawing from over 300 conversations with CEOs and AI leaders, James discusses why many companies are “AI-aware but not AI-ready.” He reveals how ZeroStone helps mid-market firms turn failed pilots into scalable, impactful AI systems. James also highlights the differences between generative and agentic AI, the dual transformation of technology and people, and the importance of fostering a culture of curiosity and continuous learning for long-term success. This episode offers practical advice for founders and executives navigating the AI revolution.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.The Founder's Journey & Imposter Syndrome (00:09:41)* “Scaling Your Everest”: the emotional toll of leadership* Facing imposter syndrome in boardrooms* Anthony Lacavera's hard advice: “You don't know what you're doing.”* How that painful truth became a turning pointFrom Go-To-Market to AI Strategy (00:16:00)* Consulting with Series A/B startups on GTM and sales* Transition to AI after dozens of founder conversations* Why most OKRs fail: objectives must tie directly to long-term strategy* Introducing a new framework rooted in “Seven Powers” by Hamilton HelmerBuilding ZeroStone AI (00:22:22)* Founding mission: help mid-market firms (>$50M revenue) unlock real AI value* Observing 300+ executive discussions on AI, awareness high, action low* Why cultural and digital transformations must happen together* Moving beyond “copilots” to autonomous, agentic AI systemsThe AI Leadership Gap (00:24:27)* Boards push for AI results, but internal teams lack clarity* “You need both a data transformation and a human capital transformation.”* The rise of self-selecting teams, who adapts, who opts out* Building cultures of learning, not fearWhy 95% of GenAI Pilots Fail (00:31:16)* Most projects don't touch core business processes* Generative AI ≠ Agentic AI: only the latter changes workflows* AI agents as “digital workers” vs. human productivity tools* How CEOs can start small, measure impact, and scale over three yearsOvercoming the Pilot Trap (00:36:30)* Scaling beyond sandboxes by fixing data architecture* The critical role of clean data lakes, enrichment, and governance* Why early-stage companies move faster than legacy enterprisesAbout James BaskinFounder & CEO of Zero Stone AIA three-time founder with successful exits, James is a seasoned expert in go-to-market strategy, OKRs, and sales leadership. Through ZeroStone AI, he is now guiding mid-market companies to unlock true, measurable value from agentic AI, moving beyond failed pilots to autonomous systems that transform businesses.Connect with James Baskin on LinkedIn: https://www.linkedin.com/in/jamesbaskin/Visit the ZeroStone AI Website: https://www.zerostone.ai/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

In this episode of Tank Talks, Matt Cohen and John Ruffolo break down the latest developments in U.S.-Canada trade negotiations, particularly around tariffs and energy, with insights into how these pressures could shape future relationships.The conversation shifts to the growing energy demands of AI, as Matt and John explore how both the U.S. and China are navigating energy needs, and whether Canada could play a more significant role. They also analyze NVIDIA's $110 billion vendor financing strategy, drawing comparisons to the telecom bubble, and discuss the growing risks in data center financing. With the IPO of Fair Me America, they examine how the market is reacting to tech companies with no assets but huge valuations. A packed episode full of fresh insights on the intersection of tech, politics, and business.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.US-Canada Relations & Trump's Tariff Strategy (04:28)Matt and John discuss the ongoing negotiations between Mark Carney and President Trump regarding trade policies, tariffs, and key sectors like steel, aluminum, and energy. Can Canada withstand the pressure, or will it need to change its approach?The Energy Battle Between the US and China (09:03)What role does energy play in geopolitics? Matt and John explore how both the US and China are navigating their energy needs, and why Canada has lost some of its leverage as the world's energy supply game changes.NVIDIA's Vendor Financing Playbook: Lessons from Lucent & Nortel (11:18)John shares a deep dive into how NVIDIA's vendor financing strategy mirrors the mistakes made during the telecom bubble, drawing parallels to the strategies employed by Lucent and Nortel. What's the risk when revenues are tied to customers who may never pay?AI, Data Centers, and the Future of Technology (17:20)From the massive energy demands of AI to the rise of private equity-backed data centers, Matt and John dissect the latest AI and GPU investments and how the industry's future could be shaped by companies like Meta and OpenAI.The “Yellowstone Club” of Hyperscalers (20:26)The two discuss the bizarre world of hyperscalers and REITs, looking at how some data center startups are getting massive valuations without any real assets or revenue, and what this means for the future of tech investments.Bezos Weighs In on the AI Bubble (25:12)Jeff Bezos surprises everyone with his thoughts on the AI industry, calling it an “industrial bubble” rather than a financial one, and analyzing the disconnect between massive investments and real-world returns.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 is joined by John Ruffolo to dive deep into the rapidly evolving AI landscape, its economic ramifications, and Canada's growing potential as a global tech leader. They discuss pivotal topics, such as energy challenges in AI infrastructure, the rise of AI tokenization, and the impact of government policies on the sector. With a focus on the future of tech, investments, and the role of Canada, this episode offers an insightful look at where the industry is headed.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.AI Energy Demands & Canada's Opportunity (00:04:39)John and Matt discuss the massive demand for compute power in AI and Canada's potential to lead by meeting these energy needs. They highlight the importance of matching energy capacity with data center development to become a global tech leader.The AI CapEx Boom and the Trillion-Dollar Question (00:07:05)The discussion shifts to the booming capital expenditures in AI, with a particular focus on the rising costs of building AI infrastructure and whether this growth is sustainable in the long term.Canada's AI Strategy and Sovereign Identity (00:14:21)The conversation turns to Canada's AI strategy, with a task force focusing on innovation, research, and talent retention. John shares his thoughts on the potential challenges and opportunities for Canada in becoming a key player in the AI space.The SEC's Push for Tokenization in the U.S. (00:19:33)The episode also delves into the SEC's efforts to allow the tokenization of stocks and what this could mean for the financial industry and blockchain adoption.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 is joined by John Ruffolo to discuss pivotal developments shaping Canada's economy and tech industry. They cover a range of topics, from Canada's immigration policies in light of changes to the U.S. H1-B visa program to the evolving AI landscape and its economic implications. John provides insights on how Canada could leverage these immigration shifts to attract global talent, while exploring the risks of inflated AI valuations and the potential for an AI bubble.The conversation also delves into the rising vendor financing model in AI, which could contribute to market instability, and examines whether the massive investments in AI infrastructure are sustainable. John reflects on the challenges facing Canadian companies, including the latest news from Constellation Software and its founder, Mark Leonard's resignation. Together, they explore how AI and its financial impact may create headwinds for established companies while offering opportunities for the Canadian tech sector to emerge as a global leader.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.AI CapEx Bubble: A Growing Concern (07:30)The conversation shifts to the massive capital expenditures in AI, with John analyzing the risks associated with overbuilding data center infrastructure and the possibility of a tech bubble.Vendor Financing in AI: A Dot-Com Repeat? (09:52)John draws parallels between current AI financing models and the early 2000s dot-com bubble, exploring whether companies are overexposed in the AI sector.The Future of AI Valuations (15:04)An in-depth discussion on the risks of inflated AI company valuations and the potential economic fallout.Canada's Immigration Advantage: H1-B Visa Adjustments (18:12)John and Matt discuss the implications of recent changes to the U.S. H1-B visa program and how Canada could use this shift to attract top talent.Constellation Software: A Transition and the Role of AI (27:09)John reflects on the recent news of Mark Leonard's resignation from Constellation Software and what this means for the company, especially in light of AI-driven changes.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 Nejeed Kassam, a serial founder, investor, and advocate for positive change. With a journey that spans from launching his first business as a teenager to scaling and selling Keela, a CRM for nonprofits, Nejeed's experience offers valuable insights for entrepreneurs, especially those navigating the challenges of building tech-driven impact companies.Nejeed shares his entrepreneurial beginnings, the lessons he learned growing Keela, and the challenges he faced when taking on external funding. He also discusses his new venture, Rewire Digital Therapeutics, an AI-powered mental health company using gamification to help users manage depression and anxiety.From scaling Keela to navigating a successful exit, Nejeed dives into his journey and the key principles he follows in his entrepreneurial endeavors. Whether you're interested in nonprofit tech, mental health, or financial literacy, Nejeed's story provides inspiration and practical wisdom.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.Nejeed's Early Entrepreneurial Beginnings (08:12)* Starting a business at 14 with his brothers in Vancouver* Learning from early failures and the importance of sales in businessScaling Keela and the Path to Acquisition (15:17)* The journey from building Keela as a side hustle to scaling it into a successful company* The decision-making process behind bringing in external capital and navigating an exit* Insights on the acquisition process and private equity rollupsRewire Digital Therapeutics: Tackling Mental Health with AI (25:34)* How Nejeed's personal experiences with mental health drove him to create Rewire* Leveraging AI and gamification to address mental health issues like depression and anxiety* The future of digital therapeutics and its potential to impact millionsFinancial Literacy: Teaching Kids Money Management (35:11)* How Nejeed teaches his kids about financial literacy* Building the financial literacy platform, Snowball 72, and its impact on Gen Z and Gen Alpha* The importance of creating safe, accessible financial learning environmentsNejeed's Lessons on Building Impactful Businesses (45:23)* The importance of staying committed to solving meaningful problems* Building businesses that balance profit with positive societal impact* The role of resilience and discomfort in entrepreneurshipAbout Nejeed KassamNejeed Kassam is a serial entrepreneur, author, and advocate for positive change. He co-founded Keela, a CRM for nonprofits, which he successfully scaled and sold in 2024. He is now co-founder of Rewire Digital Therapeutics, a company focused on using AI and gamification to help people manage mental health issues like depression and anxiety. In addition to his work in tech, Nejeed is passionate about financial literacy and has launched Snowball 72, a platform aimed at teaching the next generation about money management. Nejeed's entrepreneurial spirit is driven by his desire to solve real-world problems and make a meaningful impact on society.Connect with Nejeed Kassam on LinkedIn: https://www.linkedin.com/in/nejeed/Visit the Keela website: https://www.keela.co/Visit the Rewire Digital Therapeutics website: https://rewiredigitaltherapeutics.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

Click to Subscribe: https://bit.ly/Youtube-Subscribe-SoapDirt The Young and the Restless spoilers for Sept 29 - Oct 03, 2025 explore Billy Abbott's (Jason Thompson) desperation as he begs for Sally Spectra's (Courtney Hope) involvement, while Michael Baldwin's (Christian Jules Leblanc) secrets could cost him his career. Kyle Abbott (Michael Mealor) and Audra Charles (Zuleyka Silver) are in a heated argument, witnessed by Sally and overheard by Jack Abbott (Peter Bergman) and Diane Jenkins (Susan Walters).  Spoilers for Young and Restless find he Abbott family reeling from a potential threat from Kane Ashby's (Billy Flynn) AI, Lauren Fenmore (Tracey Bregman) grows suspicious of her husband, Michael's sudden romance. Victor Newman (Eric Braeden) tempts Kane with an offer, and Nikki Newman (Melody Thomas Scott) is in for a shock. The ongoing feud between Billy and Kane escalates with Jill Abbott's (Jess Walton) return, and the Abbotts and Newmans are left stunned by a potential Jack-Victor alliance.  Young and Restless spoilers hint at Claire Grace Newman's (Hayley Erin) future with Kyle, and Sally's plans for her future. The show also teases the arrival of familiar faces in October, including Tamara Braun as Sienna Bacall, Matt Cohen as Detective Burrows, and a recast Noah Newman (Rory Gibson) the week of 9/29 - 10/03/2025. Visit our Young and the Restless section of Soap Dirt: https://soapdirt.com/category/young-and-the-restless/ Listen to our Podcasts: https://soapdirt.podbean.com/ Check out our always up-to-date Young and the Restless Spoilers page at: https://soapdirt.com/young-and-the-restless-spoilers/ Check Out our Social Media... Twitter: https://twitter.com/SoapDirtTV Facebook: https://www.facebook.com/SoapDirt Pinterest: https://www.pinterest.com/soapdirt/ TikTok: https://www.tiktok.com/@soapdirt Instagram: https://www.instagram.com/soapdirt/

In this episode of Tank Talks, host Matt Cohen is joined by Christian Weedbrook, Founder and CEO of Xanadu, a groundbreaking Canadian company leading the charge in photonic quantum computing. With over $250 million raised, Xanadu is on track to revolutionize industries through its cutting-edge quantum technologies.Christian discusses his transition from academia to entrepreneurship, the challenges of building a quantum company, and the potential for quantum computing to reshape industries like AI, drug discovery, and materials science. He shares his insights on Canada's role in the future of quantum tech, how quantum's “ChatGPT moment” will likely change the game, and why error correction is the key to scalable quantum applications.Christian also dives into Xanadu's ambitious plans for a quantum data center in Toronto, aiming to leverage room-temperature photonic computing to create the world's first fault-tolerant quantum computing environment by 2029. From AI-driven innovation to material science breakthroughs, this episode is packed with insights on how the future of computing is being redefined.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.Christian's Journey from Quantum Physics to Entrepreneurial Vision (08:15)* The transition from academia to founding Xanadu.* Early quantum research and turning theory into a business.Quantum's "ChatGPT Moment" (13:10)* How quantum computing's breakthrough will mirror AI's rise.* The promise of quantum in industries like AI and drug discovery.The Challenges of Quantum Capital and Investment (16:20)* The hurdles of fundraising and dealing with investors unfamiliar with quantum technology.Xanadu's Recent Breakthrough in Photonic Error Correction (18:47)* How solving error correction will pave the way for real-world quantum applications.* Quantum advantage in practical settings.Canada's Advantage in Quantum and Xanadu's Global Impact (22:01)* Why Christian chose to build Xanadu in Toronto.* How Canada can lead the quantum revolution and avoid the pitfalls faced by the AI sector.The Future of Quantum Chemistry and Material Science (39:10)* The role of quantum computing in next-gen battery and solar cell development.* Why quantum chemistry is the next big frontier.About Christian WeedbrookChristian Weedbrook is the Founder and CEO of Xanadu, a leading quantum computing company based in Toronto, specializing in photonic quantum technologies. With a PhD in quantum computing, Christian has held postdoctoral positions at MIT and the University of Toronto, contributing to groundbreaking work in the field. He founded Xanadu in 2016, aiming to make quantum computing scalable and commercially viable. Under his leadership, the company has raised over $250 million and is on track to build the world's first fault-tolerant quantum data center by 2029. Christian is dedicated to positioning Canada as a global leader in quantum computing and helping to unlock its potential across industries like AI, drug discovery, and material science.Connect with Christian Weedbrook on LinkedIn: https://www.linkedin.com/in/christianweedbrook/Visit the Xanadu website: https://www.xanadu.ai/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

In this episode of Tank Talks, host Matt Cohen is joined by John Ruffolo to dive into a wide range of topics affecting Canada's economy, from energy and tech to blockchain. They discuss the government's announcement of major projects like LNG Canada's expansion and the critical need for nuclear energy. The conversation also touches on Canada's role in the global energy market, especially with the growing importance of renewables and the challenges of balancing carbon-based energy.The episode shifts to AI and blockchain, exploring how Canada can stay competitive in the tech race. They also dive into the rise of stablecoins in Canada with Tetra Digital Group's new Canadian peg stablecoin aimed at transforming B2B payments. Lastly, the episode examines the increasing presence of Canadian executives in U.S. tech companies and the risks of overvaluation in the AI startup space.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.LNG, Nuclear & Energy Future: Canada's Next Big Steps (00:07:13)Matt and John discuss the announcement of major energy projects in Canada, including LNG Canada's expansion and the importance of investing in nuclear energy for the future.Stablecoin Innovation: The Canadian Peg Stablecoin (00:15:01)Tetra Digital Group in Calgary launches a Canadian peg stablecoin set to revolutionize B2B payments. John and Matt explore how it could impact Canada's financial landscape.Opendoor's New CEO: Canadian Leadership in U.S. Tech (00:18:25)Opendoor appoints a Canadian executive as CEO, sparking a conversation about the growing influence of Canadian tech talent in major U.S. companies.AI Valuations: Are We Heading for a Tech Crash? (00:25:39)With the AI boom in full swing, Matt and John examine the potential for overvaluation and the risks of an AI bubble, echoing insights from Vinod Khosla on market “carnage.”AI's Future: Innovation or Overhype? (00:26:15)Matt and John delve into the power law of investing, discussing how capital is flowing into AI and why only a few companies will win big while many others will fail.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 Nikunj Kothari, Partner at FPV Ventures, to explore his journey from product leader at LinkedIn, Opendoor, and Meter to early-stage investor. Nikunj shares candid insights on why the best companies thrive under benevolent dictatorships, how AI is reshaping SaaS pricing models, and what makes founders truly exceptional.From his early years growing up in India to becoming one of the most thoughtful voices in venture, Nikunj opens up about his decision to leave operating roles, his angel investing beginnings, and his transition to VC at storied firm Khosla Ventures before joining FPV. He also dives deep into evaluating founders, navigating hypergrowth, and why outcome-based pricing may define the next decade of SaaS.Whether you're a founder looking to scale, an investor trying to spot the next breakout company, or simply curious about how AI is rewriting business models, this episode is packed with hard-earned lessons and bold ideas.A Quick Word from our Sponsor, FaskenAt Fasken, our clients don't wait for the future. They build it. As the first and largest dedicated emerging tech practice in Canada, our team is composed of founders, ex in-house counsel, developers and business advisors who have guided clients from startup, to scale-up, to exit. The trust of our clients has enabled us to consistently rank at the top of every major Canadian M&A, Capital Markets and Venture Capital league table. With deep industry knowledge and experience across all areas of emerging and high growth technology including ClimateTech, MedTech, Artificial Intelligence, Fintech, and AgTech we're your partners within the innovation ecosystem as you transform the landscape of what's possible.Tomorrow starts here. Own it with us.For more information, visit fasken.com/emergingtech and follow us on LinkedIn.From India to Silicon Valley: Nikunj's Early Journey (00:08:21)How his blend of engineering, design, and business led him to product management at LinkedIn and startups.Learning From Hypergrowth at LinkedIn and Opendoor (00:011:23)Why talent density and ambitious missions drive scaling organizations.The Investor's Lens: Spotting Latitude in Founders (00:013:32)Nikunj's framework for evaluating founder vision and depth at the earliest stages.Why the Best Companies Are Benevolent Dictatorships (00:015:39)How companies like Shopify and Coinbase thrive under strong, opinionated leaders.The Tension for Non-Founders in Dictatorship Environments (00:21:09)Nikunj's personal lessons as a PM executing a founder's vision.The Pivot to Investing: From Angel Checks to Khosla Ventures (00:23:26)Why he left operating roles, and what he had to unlearn as he became a VC.Joining FPV Ventures and Betting on Founder POVs (00:27:18)How FPV approaches concentrated early-stage investing with diligence and conviction.Gross Margins, Kingmaking, and the VC Trap (00:32:09)Why focusing on revenue quality matters more than chasing top-line growth.AI and the Future of SaaS Pricing Models (00:39:31)How outcome-based and usage-based pricing will disrupt per-seat SaaS models.Navigating Enterprise AI Adoption (00:44:22)The role of champions in enterprise sales and lessons from scar tissue in early adoption.Competing in Crowded Markets: The Series A Challenge (00:47:31)Why exceptional founders and market depth matter more than being first.Hot Takes: Solo Founders in the AI Era and the Future of IPOs (00:54:24)Nikunj's contrarian views on solo founders and whether Canva will go public.About Nikunj KothariNikunj Kothari is a Partner at FPV Ventures, where he focuses on early-stage investments with a founder-first approach. Previously, he was a product leader at LinkedIn, Opendoor, and Meter, where he helped scale hypergrowth startups and navigate tough product challenges. Nikunj began angel investing while at Opendoor and later joined Khosla Ventures, before moving to FPV to pursue concentrated, high-conviction seed and Series A investments. Known for his sharp writing on venture and product strategy, Nikunj has become a leading voice on topics ranging from benevolent dictatorships to the future of SaaS pricing.Connect with Nikunj Kothari on LinkedIn: https://www.linkedin.com/in/nikunjkVisit the FPV Ventures website: https://fpvventures.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

On episode 1179 of Daytime Confidential Luke Kerr, Joshua Baldwin and Melodie Aikels dish the latest Beyond the Gates, The Bold and the Beautiful, Days of Our Lives, General Hospital and The Young and the Restless, including: Luna wants to be pregnant on The Bold and the Beautiful. Thomas is back, but his relationship is over.  Leslie and Hayley crash the Dupree family's crisis on Beyond the Gates. One of the two had a better reason to be there. Should BTG pursue a Jacob and Kat pairing? Who had canabalism on their 2025 Soap Opera Bingo Card? Not us.  Kristen is sentenced on Days of Our Lives, but not before Brady interrupts and tells the judge to throw the book at Kristen. Did the DAYS writers forget that at their previous child Brady and Kristen were told Rachel would be taken away if anything more happened? Why isn't Rachel being taken away? Gabi is threading the needle between Xander and Philip. DAYS casts a new Theo Carver. Who Shot Drew is General Hospital's big storyline and the ABC soap has been building to this moment for close to a year. There are so many motives. There are so many suspects. Luke speculates who the shooter might be based on the shadow standing over Drew. We will not be happy if the shooter ends up being a day player like the Jacinda character.  Josh needs the Eastern Europe spy storyline to return to Port Charles ASAP. How much longer should Jason, Britt, Josslyn and Vaughan be kept that the nightmairish resort?  Where is The Young and the Restless getting the money to bring on four new actors, two of which are big names like Roger Howarth and Tamara Braun? Who will get cut to make room in the budget for them and Matt Cohen and Lucas Adams? If Y&R had all this money, why didn't they bring Tricia Cast and Jess Walton back for the Chance funeral? Is Y&R laying the groundwork for a Who Shot Cane? We hope not. Cane hasn't been back long enough. Is Y&R trying to take the lesbian out of their lesbian couple?  All this and more on the latest Daytime Confidential podcast! Bluesky: @DCConfidential, LukeKerr, JillianBowe, Josh Baldwin, and Melodie Aikels. Facebook: Daytime Confidential Subscribe to Daytime Confidential on iTunes, Google Play, and Spotify.

A lot of news to catch up on! Roger, Tams, Lucas Adams and Matt Cohen all to the GC and we got a surprising Tristan Rogers send off on Y&R. Theo is back on Days... as a recast. BTG hiatus? Explanations! And much more.

In this episode of Tank Talks, host Matt Cohen is joined by serial entrepreneur and investor Michael Hyatt and prominent Canadian venture capitalist, entrepreneur, and business leader John Ruffolo as they dive into some of the most pressing issues facing Canada and the world today. The conversation begins with a look at the upcoming federal budget, where Michael shares his perspective on the tough choices ahead for Canada's economy, including the potential for significant budget cuts and the challenges of balancing austerity with essential investments.The discussion quickly shifts to the rapidly growing field of artificial intelligence, with Matt, John, and Michael debating the future of AI supremacy. As global tech giants like OpenAI and Google race to dominate the AI market, the team explores how Canada can stay competitive and why the AI boom is not without its risks.With the U.S. and Canada navigating a delicate trade relationship, the episode also delves into the geopolitical shifts that could impact Canada's role in the global economy. From the impacts of tariffs to the looming question of whether Canada can adapt to the fast-changing digital landscape, this episode covers the critical intersections of politics, tech, and finance.AI Supremacy: Who Will Lead the Tech Revolution? (00:10:03)The discussion quickly shifts to the rapidly growing field of artificial intelligence. With tech giants like OpenAI and Google leading the charge, Michael, Matt, and John discuss how Canada can remain competitive in the AI race and why the industry's rapid expansion is both exciting and fraught with challenges.Global Trade Shifts: U.S.-Canada Relations and Beyond (00:19:05)As global trade tensions shift, the episode examines Canada's increasingly complicated relationship with the U.S. From tariffs to the changing nature of global alliances, Matt, Michael, and John discuss how Canada's economic future could be influenced by geopolitical dynamics and what needs to be done to safeguard the country's position on the world stage.Canada's Infrastructure Challenges: High-Speed Rail Delays (00:23:19)The team discusses Canada's slow progress on key infrastructure projects, particularly the high-speed rail project between Toronto and Montreal. Michael and John emphasize the importance of fast-tracking such initiatives to remain competitive on the global stage, contrasting Canada's delays with rapid infrastructure development in countries like China.AI Bubble: Are We Heading Toward a Tech Crash? (00:25:59)With the explosive growth in AI, the discussion turns to the potential for an AI bubble. Michael predicts that while the technology is revolutionary, many AI startups are destined to fail. The three dive into the reasons behind the bubble, why so many companies won't survive, and who the true winners will be.The Future of Quantum Computing: Canada's Path to Leadership (00:30:01)Michael shares his insights on quantum computing, highlighting its potential to reshape industries from healthcare to energy. The team discusses Canada's role in this rapidly emerging field and whether the country is positioned to be a global leader in quantum technology.The AI Workforce: Replacing Jobs or Creating Opportunities? (00:35:12)The team examines the impact of AI on the workforce. Will AI replace human jobs or create new opportunities for workers? Michael and John discuss the balance between automation and human expertise, especially in industries like real estate, healthcare, and finance.U.S. Federal Reserve and Canada's Economic Impact (00:38:30)The discussion touches on the U.S. Federal Reserve's policies and how they affect the Canadian economy. Michael talks about the delicate balancing act Canada faces, particularly with rising interest rates and inflation, and how these factors will shape the country's economic decisions.Connect with Michael Hyatt on LinkedIn: https://www.linkedin.com/in/michaelhyatt1/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 sits down with Samer Bishay, a telecom trailblazer and the founder of Iristel, to discuss his journey in revolutionizing Canada's telecommunications industry. From growing a small startup focused on VoIP services into one of Canada's largest independent telecom providers to pioneering decentralized satellite-based solutions, Samer has made a lasting impact in the tech world.Samer shares his experiences of breaking into the telecom market, competing with industry giants like Bell and Rogers, and building solutions for underserved communities. He also delves into the challenges of navigating regulatory hurdles and using cutting-edge technologies like Voice over IP (VoIP) and satellite communications to solve critical connectivity issues in remote regions.Whether you're an entrepreneur, a tech enthusiast, or interested in the future of telecommunications, this episode offers unique insights into telecom innovation, regulatory struggles, and how technology can bridge the digital divide.The Early Spark for Aviation and Space Tech (00:07:04)* From his childhood fascination with planes to studying space technology, Samer talks about his deep interest in aviation and communications, which laid the foundation for his later ventures.Launching Iristel and the VoIP Revolution (00:14:00)* Samer explains how he launched Iristel in 1999, focusing on Voice over IP, disrupting the traditional telecom model, and overcoming technical and regulatory challenges.The Power of VoIP to Disrupt Telecom Giants (00:17:20)* Samer reveals how VoIP technology allowed him to offer significantly cheaper international calls, challenging the industry's status quo.Connecting Remote Communities in Africa (00:19:43)* A pivotal moment came when Samer deployed servers in Africa to reduce the cost of international calls, ultimately helping underserved communities gain access to affordable telecom services.Battling Regulatory Challenges in Canada (00:27:11)* Samer discusses the regulatory scrutiny faced when launching Ice Wireless and Sugar Mobile, and the lessons for founders entering heavily regulated industries like telecom, healthcare, and insurance.The Vision for a Decentralized Telecom Future (00:39:05)* Samer introduces Karrier One, a company leveraging blockchain technology to decentralize telecom infrastructure and allow communities to control their own connectivity.Taking on the Telecom Industry Giants (00:23:50)* Samer talks about competing against Bell and other telecom giants, and the hurdles that came with scaling Iristel into Canada's largest independent telecom provider.Exploring the Role of Satellites in Expanding Connectivity (00:30:24)* As a co-founder of Kepler Communications, Samer explains how satellite technology is a game-changer for connecting remote regions and overcoming the limits of traditional telecom infrastructure.The Future of Canadian Innovation and Entrepreneurship (00:45:53)* Samer discusses the future of tech innovation in Canada, how entrepreneurs should navigate regulatory barriers, and the importance of fostering a risk-taking culture.About Samer BishaySamer Bishay is a pioneering telecom entrepreneur and the Founder of Iristel, Canada's largest independent telecommunications provider. With a background in VoIP technology, satellite communications, and decentralized telecom networks, Samer has spent over two decades disrupting the industry. He co-founded Kepler Communications to expand satellite connectivity in remote areas and Karrier One, a blockchain-powered platform for decentralized telecom infrastructure. Recognized as one of Canada's top 25 immigrants, Samer is driven by his mission to bridge the digital divide and create innovative solutions for underserved communities.Connect with Samer Bishay on LinkedIn: https://www.linkedin.com/in/samerbishay/Visit the Iristel website: https://www.iristel.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

“ That's also quite daunting as an investor to be able to put money into something that is perfect for now, but will it last three to five years? Will it even last three to six months?” Ripple Ventures managing partner and podcaster Matt Cohen joins to discuss the insane revenue numbers generated by the new cohort of AI startups, and how VCs are navigating the froth by updating their evaluation criteria (and hoping the growth continues). Grab your calculator and let's dig in. The BetaKit Podcast is presented by The BetaKit Innovation Leaders program: designed for incubators, accelerators, and innovation orgs across Canada. Members gain access to monthly media training, weekly office hours, and ongoing brand recognition on BetaKit. You'll also receive strategic promotional support: sponsored content, newsletter amplification, and event marketing, to help your stories reach the right audience. If you're looking to better support the innovators in your network, learn more at betakit.com/innovation-leaders. Related Links: AI is changing startup math a16z: What “Working” Means in the Era of AI Apps

In this episode of Tank Talks, Matt Cohen sits down with Peter Walker, Head of Insights at Carta, to explore the current state of the venture capital ecosystem and emerging startup trends. Peter shares his expertise on the challenges of navigating today's venture market, including how data-driven insights are shaping decision-making for both founders and investors.With his wealth of experience at Carta, Peter discusses the rise of down rounds, the impact of AI on valuations, and the complexities of stacking safes in early-stage fundraising. He also delves into the unique dynamics of later-stage companies, from unicorns struggling with inflated valuations to the evolving landscape of acquisitions and secondary markets.The conversation offers crucial insights on how investors are adapting to the changing market, and how founders should approach funding, cap table management, and navigating the growing emphasis on AI. Whether you're a founder, investor, or LP, this episode is packed with actionable takeaways on venture capital, startup growth, and the future of private tech companies.The Data Visualization Journey (00:03:25)Peter discusses his passion for data and how his experience with visualizing data led him to work on COVID tracking with The Atlantic.Joining Carta (00:06:25)Peter's transition to Carta and how his role as Head of Insights evolved into a data-driven strategy for the startup ecosystem.Navigating the 2025 Venture Reset (00:09:00)Peter breaks down the shifting dynamics in venture capital, including down rounds and how companies and investors should be preparing.Down Rounds & Valuation Insights (00:12:15)The challenges startups face with down rounds, and what data from Carta reveals about current market trends in startup valuations.The Impact of Safes on Founders (00:14:55)Why Peter believes founders are overusing SAFEs and the long-term consequences for cap tables and company growth.AI's Role in the Venture Landscape (00:17:47)Peter discusses how the AI boom is reshaping venture markets and influencing startup valuations, especially for non-AI companies.Bridge Rounds & the Evolution of Seed Funding (00:21:07)The rise of seed bridge rounds, preemptive funding, and defensive bridge rounds as VCs try to navigate uncertain valuations.Unicorns, Acquisitions & the Future of Late-Stage Companies (00:23:47)What happens to unicorns in a post-boom era, and how acquisitions and down rounds are playing out for companies with inflated valuations.Navigating Secondary Liquidity & Acquihires (00:30:24)A deep dive into secondary markets, acquihires, and the growing trend of liquidity for startups as the market matures.The Future of Venture Capital (00:33:46)Peter discusses his vision for venture capital in 2030, including the implications of rising AI investments and a more consolidated VC ecosystem.Founders and VCs in 2030 (00:37:08)Peter's predictions for the future of startup funding, with a focus on changing expectations, funding models, and talent acquisition.About Peter WalkerPeter Walker is the Head of Insights at Carta, where he leads data-driven research on startup trends and venture capital markets. With a strong background in data visualization, Peter has helped shape Carta's influential market reports, providing insights into valuations, equity distribution, and venture trends. Previously, he contributed to The Atlantic's COVID-19 tracking project, gaining recognition for his impactful visualizations. At Carta, Peter leverages data from over 45,000 startups to guide founders and investors in making informed decisions, focusing on cap table management and the evolving venture landscape, particularly the influence of AI. His expertise bridges data analytics and clear communication, helping navigate the challenges of raising capital and scaling startups today.Connect with Peter Walker on LinkedIn: https://www.linkedin.com/in/peterjameswalker/Visit the Carta website: https://carta.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 jam-packed episode of Tank Talks! Host Matt Cohen is joined by John Ruffolo to break down the biggest headlines shaping Canada's business, tech, and financial future. From the $12.3B privatization of Dayforce, to the Canadian government's long-overdue embrace of AI startups, and the urgent debate over stablecoins and financial sovereignty, this episode dives deep into the forces reshaping Canada's economy.Whether you're a founder, investor, or policy watcher, you don't want to miss this candid conversation on where Canada is winning and where we risk falling dangerously behind.Dayforce Acquired in $12.3B Mega Sale (01:15)Matt and John unpack Thoma Bravo's $12.3 billion acquisition of Dayforce, Canada's largest private tech buyout in history. They discuss why HR software has become a hot consolidation market, the risks of Canadian management talent shifting south, and what this deal signals for the future of SaaS valuations.The Rise of Tender Offers & Canva's $42B Valuation (06:01)With Canva's latest employee tender round oversubscribed, John and Matt explore why private markets remain so frothy, how valuation gaps compare to IPOs like Figma's, and what it means for Canadian scale-ups eyeing liquidity.AI Funding Frenzy: Cohere's $500M Raise & Government Partnership (07:30)Canadian AI champion Cohere announced a $500M round at a $6.8B valuation and a landmark MOU with the federal government. John and Matt debate whether government procurement can finally support Canadian AI companies and if AI cost curves are sustainable as token prices plummet.The AI Economics Debate: Infrastructure vs. Applications (10:05)With LLM costs dropping and cloud providers cashing in, John and Matt analyze whether the money in AI will flow to infrastructure giants like Nvidia and Microsoft, or to niche application-layer startups battling against the incumbents.Google's AI Energy Report & The Sustainability Question (13:24)Google claims its Gemini models are 33x more efficient than last year. John questions whether those numbers hold up at scale and what AI's true carbon footprint means for global adoption.China's Stablecoin Push & The Threat to Canadian Sovereignty (15:14)China moves toward approving yuan-backed stablecoins, while the US doubles down on dollar-backed alternatives. John warns that Canada's silence on stablecoin policy risks losing monetary sovereignty, while Matt predicts US dollar stablecoins could eclipse the Canadian dollar within a decade.Why Canadian Entrepreneurs Need “Team Canada” Capital (21:06)Drawing from his recent Substack essay, Chasing the Tornado, John argues that Canada's biggest risk is capital providers sitting on the sidelines. He calls for pensions, banks, and family offices to invest in sovereign businesses before Canada loses control of key industries.Walking Again with AI-Powered Robotics (23:47)On a personal note, John shares his inspiring first steps in a robotic exoskeleton built by Human in Motion Robotics. He describes how AI-driven rehab tech could transform mobility for millions and why this Canadian innovation deserves global attention.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, we sit down with Brett Gibson, Managing Partner at Initialized Capital, to explore how the world of venture capital is being reshaped by advancements in AI, crypto, and space technology.Brett's career has been anything but conventional. From co-founding Posterous with Garry Tan (which was later acquired by Twitter) to rebuilding the platform as Posthaven, and reengineering Y Combinator's internal software systems, he's seen it all. Today, as Managing Partner at Initialized Capital, Brett is spearheading investments in emerging sectors like AI infrastructure, crypto technologies, and even asteroid mining.In this conversation, Brett reflects on his journey of building and scaling startups, the transformation of Initialized Capital following its 2024 restructuring, and his thoughts on why AI is outpacing crypto in shaping the future. He also shares his perspective on moonshot investments, including AstroForge's mission to mine platinum from asteroids, and offers insights into how founders should navigate an era of rapidly evolving technology.This episode is packed with valuable insights for anyone interested in the future of venture capital, AI, crypto, and space exploration.How It All Began (00:01:44)Brett's early years in Los Gatos, his philosophy degree, and how teaching himself to code set him on the startup path.Posterous, Posthaven & Twitter (00:03:27)The lessons from co-founding Posterous with Garry Tan, scaling consumer tech, and rebuilding as Posthaven after Twitter shut it down.Rebuilding YC's Software Stack (00:09:00)Inside story of rewriting Y Combinator's internal tools, including applications, demo day, and Bookface.The Evolution of Initialized Capital (00:13:20)How Initialized grew from a $7M fund to billions under management, and the 2024 restructuring that refocused the firm on seed investing.Crypto Infrastructure & Bison Trails (00:17:08)Why Initialized leaned into crypto early, the Coinbase acquisition of Bison Trails, and crypto's ongoing product market fit problem.AI as Table Stakes (00:28:19)Why Brett believes every startup should leverage AI and why ignoring it puts founders at a competitive disadvantage.Scaling Technical Founders (00:32:48)Common pitfalls for technical founders, why people management is a skill, and how to avoid organizational debt.Moonshots: AstroForge & Beyond (00:34:42)How Brett evaluates deep tech bets like asteroid mining and the role of network density in space investments.The High Bit Podcast & Sharing Founder Insights (00:37:06)Why Brett launched Initialized's technical podcast and the surprising patterns across founders' approaches to problem-solving.The Future of AI, Crypto & Space by 2030 (00:40:45)Brett's vision for the next decade of innovation, and why he believes the world will move faster than ever.About Brett GibsonBrett Gibson is the Managing Partner at Initialized Capital, where he leads seed-stage investments in AI, crypto infrastructure, space tech, and beyond. A former software engineer, Brett co-founded Posterous with Garry Tan (acquired by Twitter), built Posthaven, and spent years at Y Combinator rewriting its internal software systems. At Initialized, he's led bold bets on companies like Bison Trails, Sequence, AstroForge, and more.Connect with Brett Gibson on LinkedIn: https://www.linkedin.com/in/brettdgibson/Visit the Initialized Capital website: https://initialized.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

In this episode of Tank Talks, we dive deep into how AI is reshaping the world of investment banking and financial workflows. We're joined by Kunal Tangri and Noah Faro, co-founders of Farsight AI, a trailblazing FinTech startup out of New York that's automating everything from pitch decks to financial models, all within the tools bankers already use, like Excel and PowerPoint.Farsight's mission is to help finance professionals cut down on tedious, manual work and focus on higher-level strategy, and the results are already impressive. In just one year, the company grew 10x in revenue, offering a compelling solution to banks, private equity firms, hedge funds, and wealth managers.In this episode, we discuss:* The aha moment behind starting Farsight AI and the team's journey from MIT to Wall Street and beyond.* Why the founders believe AI is the key to eliminating grueling 100-hour work weeks for junior bankers and making high-end finance more efficient.* The biggest challenges they've faced in building a tool that integrates seamlessly into finance professionals' daily workflows.* The future of AI in financial services and how it can democratize access to top-tier financial tools.From scaling the company to navigating investor interest and addressing the challenges of maintaining security in the financial sector, Kunal and Noah offer valuable insights on building a product that doesn't just save time but transforms the entire way finance professionals work.How It All Started (00:02:36)Kunal and Noah share how their experiences at MIT and roles in big tech led them to co-found Farsight AI and the unique problem they set out to solve in financial services.Breaking the Banking Mold (00:06:49)What it takes to build a product that bankers actually want to use without forcing them to learn a new workflow.How AI Can Eliminate Manual Grunt Work (00:10:50)Automating the dreaded task of creating pitch decks, memos, and financial models, and how Farsight AI is pushing the boundaries of what's possible in financial services.Investor Pitch & Growth (00:20:34)How Farsight AI secured its first round of funding, raised $16 million in Series A, and caught the eye of major investors.AI-Powered Decision Making in Finance (00:28:00)How Farsight AI is tackling everything from Excel-based tasks to handling private equity and M&A documents with seamless integration and workflow automation.The Road Ahead (00:40:04)Kunal and Noah discuss their vision for the future, why they believe junior bankers of 2030 will spend more time on strategic thinking than mundane tasks, and how AI will change the financial landscape forever.About the GuestsKunal Tangri and Noah Faro are the co-founders of Farsight AI, a revolutionary AI startup that's changing the way finance professionals work. Both with deep roots in tech, they bring a unique perspective to automating some of the most tedious tasks in investment banking, private equity, hedge funds, and wealth management. With backgrounds at top-tier companies like Hugging Face, Amazon, and MIT, they're at the forefront of the AI revolution in finance.Connect with Noah Faro on LinkedIn: https://www.linkedin.com/in/noahfaroConnect with Kunal Tangri on LinkedIn: https://www.linkedin.com/in/kunal-tangri-61ba48121/Visit the Farsight AI website: https://www.farsight-ai.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

In this episode of Tank Talks, we're joined by Michelle Zatlyn, Co-founder, Co-chair, and President of Cloudflare, a company protecting and powering a major part of global internet traffic. Cloudflare helps businesses stay online, load faster, and block threats before they reach the door.Michelle explains how growing up in Saskatchewan shaped her views on leadership and teamwork, and how that experience still guides her as Cloudflare scales. She shares how a hallway conversation at Harvard became the starting point for the business, how they raised their first round of funding without a product, and why they moved to Silicon Valley during a downturn with no connections.She talks through the pressure of going public, the spike in traffic when COVID hit, and how the team responded when customers suddenly needed help keeping their services running. She also walks through Cloudflare's new AI crawler model, how it gives content owners more control, and why a new business model for the web is overdue.From managing billions of attacks a day to helping publishers keep their content protected, Cloudflare shows what it means to stay reliable when the stakes are high, and Michelle makes it clear that good infrastructure only works if people trust it.We explore:* How do you raise money with no product, no revenue, and no connections?* What happens when a hallway idea becomes core infrastructure for the internet?* What changes when your company goes public six months before a global crisis?* Can creators control how AI models use their content?* What can founders do to make their teams more inclusive without making it performative?* Why $100M-to-$1B is more fun than $0-to-$100MThe Canadian Roots and Early Values of a Tech Founder (00:02:36)* Growing up in Prince Albert, Saskatchewan* How cold winters and community spirit shaped her leadership* From science nerd to Silicon Valley co-founderWhy She Left Medicine for Business (00:06:49)* How a summer research job made her rethink med school* Falling into tech through work in Toronto* Applying to Harvard without knowing how to pay for it* The support from Canadian alumni that made it possibleThe Hallway Conversation That Sparked Cloudflare (00:10:50)* A casual remark turns into a business idea* How she and Matthew Prince turned Project Honeypot into a startup* Using their .edu emails to get early help and access* Getting credit for the project instead of taking another classRaising Money With No Traction (00:20:34)* Moving to Silicon Valley in a U-Haul with no connections* Pitching investors with nothing built* Getting $2M on a $4M pre-money valuation* Why the Valley still bets on early-stage founders with clear ideasHiring, Scaling, and Keeping a Startup Culture (00:24:52)* Going from 20 people to over 4,500* Why they still focus on shipping and momentum* How ownership and trust make the difference* Running fast without losing focusGoing Public, Then COVID Hit (00:28:00)* Why they went public when they did* Customers who once said no came running back* What changed when traffic spiked overnight* How customer demand and product pressure collided* Working through the crisis while remote* What Cloudflare learned under fireCloudflare's AI Crawler Controls (00:40:04)* What's happening with AI scraping content* Why Cloudflare built a way to block or license crawlers* The impact on small content creators* How this fits into wider changes to how the web worksDDoS Attacks and Online Threats (00:48:06)* Stopping 190 billion attacks per day* The evolution of DDoS threats in 2025* Why using modern security tools is non-negotiableMichelle's Vision for the Next 15 Years (00:51:18)* Cloudflare as generational infrastructure* Building the most trusted connectivity cloud* Why Internet infrastructure is as vital as plumbingChampioning Women & Diversity in Tech (00:53:27)* Leading by example* Small asks, big impact: improving referral pipelines* Creating space for underrepresented founders and talentCloudflare has grown into critical internet infrastructure, but Michelle talks about it like a work in progress. The problems are large, but they stay focused on solving them one at a time. Her view is practical: strong teams, clear goals, and ongoing effort.About Michelle ZatlynCo-founder, Co-chair & President of CloudflareOne of the most influential leaders in Internet infrastructure, Michelle is a Canadian-born tech executive known for building and scaling Cloudflare into a global powerhouse. A champion for cybersecurity, innovation, and women in tech, she brings passion and grit to every conversation.Connect with Michelle Zatlyn on LinkedIn: https://www.linkedin.com/in/michellezatlyn/Visit Cloudflare Website: https://www.cloudflare.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 exciting episode of Tank Talks! Host Matt Cohen is joined by John Ruffolo as they dive deep into some of the most fascinating business and tech news, covering everything from the Bank of Canada's interest rates to Figma's IPO debut and the rising debate over AI web crawling. Get ready for another whirlwind discussion on the challenges and opportunities at the intersection of technology, finance, and policy!Bank of Canada Holds Rates Amid Tariff Resilience (00:31)The episode kicks off with a look at the Bank of Canada's decision to hold interest rates steady at 2.75%, despite tariff resistance from the U.S. Matt and John dissect how the Canadian economy is faring and whether this wait-and-see approach will help or hurt the country's future rate cuts.Figma IPO: A Tech World Shake-Up (02:56)Figma, the design software giant, hits the New York Stock Exchange with a stunning 225% stock surge, far surpassing its $33 IPO price. Matt and John explore the remarkable jump in Figma's stock value, its previous $20 billion offer from Adobe, and how this signals a new era for the tech IPO market.The Surge of AI-Powered IPOs and Investment Opportunities (05:02)From Figma to potential IPOs from high-growth AI companies, the episode shifts focus to the flood of upcoming tech public offerings. With Microsoft and Meta reporting blowout earnings, the duo discusses how AI and high-tech companies are dominating the IPO space and the new investment opportunities in play.Cohere's Growth Amidst AI Giants (07:29)Canadian AI startup Cohere is making waves with a new partnership with Bell Canada and reports of revenue growth, doubling its projected recurring revenue. John and Matt discuss how the startup is positioning itself in the highly competitive AI space, especially with privacy-focused models catering to regulated industries.JPMorgan and Coinbase's Surprising Crypto Partnership (09:48)JPMorgan and Coinbase announce a groundbreaking partnership, directly connecting customers' bank accounts to crypto wallets. Matt and John break down how this bold move marks a huge shift in the banking industry, particularly as Canadian banks are left playing catch-up.Ontario Cancels Starlink Deal Over Tariff Tensions (12:09)In a shocking move, the Ontario government cancels a $92 million Starlink deal due to U.S. tariff tensions. Matt and John discuss how this decision could impact access to vital broadband for remote communities and the political ramifications of Canada's communications sovereignty.The Growing Battle Over AI Web Crawlers and Content Protection (15:26)As AI web crawlers, including OpenAI's GPT and Anthropic's Claude, face growing restrictions, Matt and John discuss the implications of major companies like Amazon and media giants blocking these crawlers. The episode explores the future of online data scraping, the rise of closed ecosystems, and the potential impact on digital advertising.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, we're joined by Gaurav Jain, co-founder of Afore Capital, one of the earliest and most respected players in the pre-seed investing space. Gaurav shares how growing up in a small town in India, moving to Canada, and working at Blackberry, Amazon, and Google helped him understand the value of momentum, iteration, and building products that truly matter.He walks us through how a random dinner at Harvard led to meeting his future co-founder, how they built Afore around the belief that the best founders are often overlooked too early, and why the firm exclusively focuses on investing before there's a product or sometimes even an idea.Gaurav dives into what makes a great founder at the earliest stage, why he believes momentum is the only moat, and how the rise of AI has only accelerated opportunities for young, technical entrepreneurs to build enduring companies with less capital. He also opens up about the firm's "Founder-in-Residence" and "UTransfer" programs, his view on the Canadian tech scene, and the power of bespoke, high-conviction investing.We explore:* Why is momentum the only true moat in early-stage startups?* Can pre-seed investing still deliver alpha now that it's crowded?* Is seed-strapping the future of venture capital?* How do you identify founders before they've found their idea?* What happens when you give 19-year-olds the capital to build?Building a Pre-Seed Fund Before “Pre-Seed” Was a Thing (00:03:54)* Interning globally to chase experience and perspective* The turning point: joining Founder Collective* Meeting co-founder Anamitra through a lucky dinner at Foundation Capital* Launching Afore in 2016 to fill the pre-seed voidFounder Empathy & Early-Stage VC Lessons (00:08:17)* Mistakes from being a first-time founder* Learning that exits don't matter, products and pain points do* Why Canadian angel advice focused too much on sales, not software* Why product-led growth is a must-have, not a nice-to-haveThe 10,000 Coffees Rule of Venture (00:11:27)* How judgment is built: time, exposure, and repetition* Why investing based on ideas (not teams) is a rookie mistake* Filtering “this could work” vs. “this must work”* The real constraint in VC: time, not capitalAfore's Mission: Investing Before the Idea (00:15:00)* The “Too Early” problem founders face and why Afore exists* How FIR (Founder in Residence) and Transfer University fund ideation* Building a support system, not a portfolio of call options* Why being idea-stage isn't a red flag, it's a sign of ambitionConvincing LPs That Pre-Seed Was Real (00:19:19)* LP skepticism: “Isn't this just the bad deals no one else wants?”* How talking to founders not seed managers won over investors* Working with PitchBook and Crunchbase to split out pre-seed data* Making pre-seed visible helped founders self-identify and alignSeed-Strapping and the Rise of Efficient Startups (00:24:00)* How AI-native startups are hitting $1M ARR 2x faster* Case study: Gamma's hypergrowth on ultra-low burn* Why founders can delay growth rounds longer than ever* Capital efficiency is now a competitive edgeMomentum Is the Only Moat (00:26:07)* How Android's rise taught Gaurav speed = survival* Lessons from RIM's downfall: never rest on product laurels* Why the AI era is reshaping iteration timelines* Pre-seed startups now move at the speed of launches, not quartersPivot-as-a-Service in the AI World (00:34:16)* FIR teams pivoting from speech therapy to CX platforms* Younger founders = more raw talent, less domain bias* Startups pivoting every 6–8 weeks—and why that's healthy* Embracing pivots as a feature, not a flawScaling Afore with Purpose (00:35:21)* Fund IV, $500M+ AUM, and 150+ companies later* Why concentrated portfolios beat spray-and-pray* The dangers of being too dogmatic on stage or valuation* Supporting breakout talent like Neo, Gamma, and BenchGlobal Perspective: Canada's Role in Venture (00:41:19)* Why Canada produces world-class engineering talent* The upside and limits of building in the North* Hybrid models: Canada for R&D, U.S. for GTM* Afore's belief in serving Canadian founders, wherever they buildFailure may define most early-stage startups, but for Gaurav Jain, the real story starts before the pitch, before the product, even before the idea. With Afore Capital, he is betting on people over polish, instinct over perfection, and helping founders build long before the rest of the world is watching. His journey reminds us that great companies don't always start with traction; they start with trust.About Gaurav JainCo-founder and Managing Partner at Afore Capital. Ex-Android, BlackBerry, and founder of Polar Mobile. Afore is known for being one of the first firms dedicated to pre-seed, supporting founders before they even have an idea.Connect with Gaurav Jain on LinkedIn: https://www.linkedin.com/in/gjainvcVisit Afore Capital Website: https://www.afore.vc/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 Tank Talks! In this episode, host Matt Cohen and John Ruffolo dive deep into the latest developments at the intersection of AI, tech, finance, and Canadian sovereignty. From Canada's battle over data center sovereignty to the rapid rise of secondary funds in venture capital, Matt and John cover it all in a fast-paced, thought-provoking conversation.Canada's Looming Data Sovereignty Crisis (00:30)Matt and John kick things off with a critical discussion on Canada's data sovereignty issues. With foreign powers potentially controlling key Canadian data centers, they explore the risks and the urgent need for Canada to develop a more self-reliant infrastructure.The Great AI Infrastructure Rush (03:23)The Canadian pension funds (also known as the Maple 8) are making huge moves in the AI infrastructure space. But is this just the tip of the iceberg? Matt and John unpack the massive investments pouring into data centers and AI infrastructure, and what Canada could do to ensure it doesn't just become a resource extractor for foreign companies.The Growing Secondary Market: Northleaf's $663 Million Fund (07:56)Secondary funds are taking center stage in the private equity world. Northleaf Capital Partners recently raised $663 million for its secondary fund, and Matt and John break down the growing trend of secondary transactions in venture capital. Will more firms follow Northleaf's lead? Tune in to find out!The Issue of Zombie Assets in Venture Capital (10:57)John introduces the concept of “zombie assets” that are sitting stagnant in venture capital funds. These assets are causing liquidity problems, and Matt and John discuss how secondary funds like Northleaf are stepping in to help.Sovereignty and Stablecoins: A National Security Risk? (12:57)As the US dominates the stablecoin market, Matt and John discuss Canada's vulnerability in the crypto space. Should Canada be concerned about losing control of its monetary policy to foreign stablecoins and cryptocurrencies? The conversation takes a deep dive into how these digital assets are changing global financial power dynamics.Regulating Crypto and Stablecoins in Canada (16:42)John brings up a troubling development, Canada's slow response to the rise of stablecoins, and the risks of leaving its financial sovereignty at the mercy of foreign-backed assets. With the US moving fast on crypto regulation, what should Canada do to protect its financial system?A Wake-Up Call for Canadian Banks (19:47)Matt and John discuss the changing landscape for Canadian banks as crypto and stablecoins grow in popularity. What should Canadian financial institutions do to ensure they don't lose out on this emerging market? The hosts explore potential strategies for banks to adopt in response to the rapid growth of decentralized finance.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 action-packed episode of Tank Talks! Join host Matt Cohen with John Ruffalo as they break down the high-stakes drama shaking the AI and tech world. First up: the shocking collapse of OpenAI's $3 billion deal to acquire Windsurf, derailed by Microsoft's IP grip, and Google DeepMind's lightning-fast $2.4 billion countermove to snag top talent. Was this a regulatory dodge or a ruthless talent grab?The plot thickens as Cognition swoops in to rescue Windsurf's abandoned employees, sparking fiery debates about ethics in tech acquisitions. Meanwhile, Meta's throwing half-billion-dollar offers and unlimited GPU access at AI researchers, will this arms race kill open-source AI?From Google's $3 billion hydropower deal to private equity's risky play for Grant Thornton, no stone is left unturned. Plus, is the red-hot IPO market ready for crypto's comeback? Strap in for a no-holds-barred dive into the deals, power struggles, and Silicon Valley scheming you need to know about!OpenAI's $3 Billion Deal Collapse: A Tech Industry Shock (00:45)It all started with a major deal unraveling: OpenAI's attempt to acquire Windsurf, a competitor to Cursor, fell apart due to a contractual conflict with Microsoft. Matt and John break down what went wrong, how this impacts the AI talent war, and the broader implications for future tech acquisitions.Google DeepMind's $2.4 Billion Deal: A New Era of AI Acquisition (02:05)Google swoops in to capitalize on the situation with a $2.4 billion licensing deal for Windsurf's key staff and technology. Matt and John explore how this move positions Google and whether it signals a new wave of AI-powered business acquisitions.The Ethics of Acquihires and Minority Shareholder Issues (05:10)What happens when top employees leave with huge payouts, while others are left behind in the dust? John and Matt discuss the ethical and legal complexities of acquihires and the tension between founders, employees, and investors when money and control are on the line.Cognition's Quick Move to Acquire Windsurf (07:00)In a dramatic twist, AI company Cognition steps in to acquire Windsurf and its employees, turning the situation around. Matt and John analyze the speed and strategy behind this acquisition and what it means for competition in the AI coding space.Mark Zuckerberg's AI Talent Strategy: Unlimited GPUs and $500M Deals (09:00)Zuckerberg's bold move to attract top AI talent with unlimited GPU access and eye-popping compensation packages is making waves. But is it desperation or a stroke of genius? Tune in as Matt and John debate the future of AI talent wars and Meta's place in the race for superintelligence.The Power Struggles Behind AI and Crypto Investments (11:05)It's not just about technology; it's about energy, too. Matt and John discuss the power struggles behind data centers, microgrids, and massive AI and crypto energy consumption, including the huge investments made by Meta, Google, and Oracle to secure their futures.Grant Thornton's Global Franchise Issues: When Private Equity Meets AI (12:20)Private equity's increasing role in professional services firms like Grant Thornton is causing some tension. Matt and John explore how AI and cross-border partnerships are shaking up the accounting world, leading to serious questions about the future of global firms.Bitcoin Soars and IPOs Heat Up: The Crypto Revolution (15:30)Bitcoin is soaring and the IPO market is heating up with crypto companies eager to go public. John and Matt discuss the latest developments in the blockchain world, and whether there's room for Canadian companies to make waves on the IPO stage.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, we're joined by Sam Pillar and Forrest Zeisler, co-founders of Jobber, a platform that's changing the way small service businesses operate. Jobber brings everything, quoting, scheduling, invoicing, and payments, into one simple, powerful system, making it easier for service professionals to run and grow their businesses.Sam and Forrest share how what began as late-night coding sessions and casual coffee shop chats evolved into a company helping thousands of tradespeople work more efficiently and take back control of their time. They talk about the early lessons learned, the importance of staying relentlessly focused on real customer needs, and how they've embraced AI to help entrepreneurs future-proof their businesses.From turning 56-hour workweeks into tasks handled in minutes, to giving business owners the freedom to manage operations from anywhere, even a hospital room or beachside cabana, Jobber is proving that small businesses don't have to sacrifice their well-being for success.We explore the big questions:* Can AI finally give small business owners their "5 to 9" back?* What happens when you build software by listening, not dictating, to your customers?* Will AI become the most indispensable "employee" for millions of tradespeople?The Coffee Shop Origins of Jobber (00:01:43)* Meeting over code at Remedy Coffee in Edmonton* Building software to bring order to small business chaos* Learning from real customers instead of leading with assumptionsThe Power of Listening to Small Business Pain Points (00:04:31)* How a $430 phone bill inspired Jobber's early product* Focusing on relationship-driven problem discovery* Why the best solutions come from understanding, not pitchingEarly Hustle and Near-Impossible Odds (00:08:19)* Maxed-out credit cards, mice in the office, and toaster oven hacks* The role of naive optimism in surviving the startup grind* Asking parents for investment in an “idea” that wasn't worth much (yet)Building Trust with Small Business Owners (00:11:27)* Overcoming skepticism of the cloud and digital tools* Why authenticity, empathy, and asking the right questions matter* The “bullsh*t meter” of tradespeople and how Jobber earned credibilityImpact Stories: Reclaiming the '5 to 9' Life (00:18:24)* A customer's ability to run his business from a hospital bedside* Empowering entrepreneurs to pursue dreams, not drown in paperwork* Emotional success stories from Jobber customersThe 'Gateway Drug' of Entrepreneurship (00:22:02)* The surprising role of poop scooping businesses* Why low-barrier industries ignite entrepreneurial ambition* Jobber's commitment to serving all small businesses, no matter how nicheScaling with Purpose: Jobber as the Shopify of Home Services (00:23:43)* Prioritizing customer stories over founder fame* Embedding customer obsession into every team and meeting* How Jobber fosters an internal culture rooted in small business successThe Future of AI for Trades & Small Business (00:26:07)* AI as a “most trusted employee” for entrepreneurs* Real-world automation reducing 56-hour tasks to minutes* Why tradespeople stand to benefit most from AI efficiency* Building trust before AI can fully run their businessCo-Founder Chemistry & Fun Facts (00:34:16)* Forrest's love for right-hand drive sports cars* Sam's vintage Mercedes obsession and former bike courier skills* The role of carpentry, farming, and hands-on hobbies as a founder escapesAs entrepreneurial life splinters under pressure, platforms like Jobber illuminate a better path: one where smart technology and strong relationships meet. They're not just building software—they're cultivating trust, reclaiming freedom, and reimagining what it means to succeed in small business. Whether you're buried in paperwork or dreaming of the next simple service, Jobber could be the partner you didn't know you needed.About Sam PillarCo-founder & CEO of Jobber, passionate about empowering small service businesses. Former freelance developer turned tech leader driven to help entrepreneurs succeed.Connect with Sam Pillar on LinkedIn: https://ca.linkedin.com/in/sampillarAbout Forrest ZeislerCo-founder & CTO of Jobber, software engineer by trade with a deep belief in building practical solutions for real-world problems. Known for his car obsession and mechanical watch collection.Connect with Forrest Zeisler on LinkedIn :https://ca.linkedin.com/in/forrestzeislerVisit Jobber Website: https://www.getjobber.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 thought-provoking episode of Tank Talks! In this episode, Matt Cohen and John Ruffolo cut through the noise to unpack the latest economic headlines and policy shifts reshaping North America's business landscape. From Canada's surprise repeal of the Digital Services Tax to Brookfield's launch of an evergreen private equity fund, this episode dives deep into the forces driving change in trade, finance, and innovation.Will Canada's late-stage policy reversal strengthen its position in U.S. trade talks? Are evergreen funds the next big wave in private equity? And how will digital-only banks and stablecoins reshape the future of finance? Tune in for all that and more!Canada's Digital Services Tax Repealed at the 11th Hour (00:14)Just hours before the June 30th collection date, Canada repealed its controversial 3% digital services tax to clear the runway for renewed trade negotiations with the U.S. Matt and John unpack the political optics, the timing missteps, and why this repeal might've come too late to score real leverage in the upcoming Carney-Trump summit.Trade Tensions and a Pivot Away from U.S. Exports (02:50)With U.S. tariffs still biting Canadian industries like steel, aluminum, and autos, exports to non-U.S. markets jumped 5.7% in May. John analyzes the long-term risks and what a 10% tariff “compromise” could mean for Canadian trade policy moving forward.Brookfield's Evergreen Fund: Liquidity vs. Strategy (06:37)Brookfield's launch of a new evergreen private equity fund is raising eyebrows. These liquid investment vehicles are tailored for high-net-worth investors, but could they undermine Brookfield's traditional closed-end funds? Matt and John discuss the tradeoffs and potential disruption to institutional capital models.Stablecoins, Erebor & The Future of Banking (10:53)With the launch of Erebor, a new U.S. digital-only bank backed by Palmer Luckey, Peter Thiel, and Joe Lonsdale, the open banking revolution is heating up. But will Canada get left behind amid regulatory hesitations? The duo explores how stablecoins and crypto-native banks are reshaping the financial ecosystem.The “Big Beautiful Bill”: Trillions in U.S. Spending (13:56)At nearly 1,000 pages and $4.85 trillion, the latest U.S. tax and spending package is a behemoth. John calls out some of the more controversial provisions, like Section 899, a “revenge tax” aimed at foreign investors, and weighs in on what this means for the U.S. deficit and global investment climate.Figma Files to Go Public: A Product-Led Rocketship with a Caveat (16:49)Figma's S-1 filing reveals eye-popping growth: $750M in 2024 revenue, 91% gross margins, and 90% of the Fortune 500 on board. But one number raised eyebrows, its definition of net revenue retention. Is the 132% figure misleading? Matt and John dissect the metrics and what investors need to know.Anthropic & OpenAI's Revenue Explosion (19:39)AI darlings Anthropic and OpenAI are shattering expectations, with annualized revenues of $4B and $10B, respectively. What's fueling this growth, and is it sustainable? Matt and John assess the trajectory and strategic implications for the broader AI race.Meta's Talent War: $300M Signing Bonuses & AI Domination (20:30)Meta's aggressive push into AI includes poaching top OpenAI talent with eye-watering offers reportedly reaching $300M. Is this visionary investing, or panic-mode recruiting? The conversation digs into the implications of Meta's superintelligence ambitions and the high-stakes battle for AI supremacy.Microsoft Layoffs: AI Efficiency or Budget Strategy? (22:52)With Microsoft cutting 9,000 jobs, questions swirl around whether AI-driven efficiencies or strategic capital reallocation are the real drivers. John shares his take on what this means for enterprise software, consulting firms, and the future of knowledge work.As the tides of global economics, innovation, and technology continue to shift, Tank Talks is your front-row seat to the big moves shaping our world. Don't miss this jam-packed episode!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, we explore the future of solo entrepreneurship powered by AI with the co-founders of Audos, Henrik Werdelin and Nicholas Thorne. Audos is pioneering a platform that helps founders start and scale one-person businesses by providing AI co-founders that guide entrepreneurs through the entire startup journey from idea validation to product development, marketing, and growth.Henrik and Nicholas share how their experience building companies like BarkBox and their startup studio Prehype, inspired the vision for Audos. They break down why the next wave of innovation may come not from massive teams, but from solo founders armed with agents and AI workflows.* Can AI unlock a million one-person, million-dollar businesses?* What's a “Donkeycorn” and why is it the new unicorn?* How do founders build “taste at scale” in an age of auto-generated everything?From BarkBox to Audos: Henrik's Journey (00:02:31)* Building a startup collective with Prehype* Why being surrounded by misfits at MTV shaped his entrepreneurial lens* What “between time” means for foundersWall Street to Startup Studio: Nicholas' Story (00:06:00)* Starting on Wall Street during the 2008 crash* Creating a Costco arbitrage business in college* Meeting Henrik and becoming an “Entrepreneur in Residence”How Audos Was Born (00:10:41)* The problem with “idea-first” thinking* The Prehype methodology that powers the platform* Helping founders build relationship capital, not just appsWhat is Audos? An AI Co-Founder for the Masses (00:12:26)* The mission: a million one-person, $1M/year businesses* How agents guide users from idea to scale* From onboarding to revenue generationTaste at Scale: The Founder's Secret Sauce (00:26:54)* Why knowing what not to do is as important as what to do* Defining taste in a world of AI-generated content* The power of deselecting bad-fit customersThe First 30 Seconds with Audos (00:32:01)* How users are onboarded via Instagram and a conversational UI* The role of AI agents across product, marketing, and founder coaching* Where human support still plays a vital roleCapital as a Tool for Activation (00:36:26)* Why giving early-stage founders “nudges” is more effective than full VC rounds* Real stories of customers launching fast with small validation experiments* Why momentum is oxygen for new businessesReplacing Accelerators? The Role of Community (00:48:54)* How Audos supports founders who wouldn't otherwise build* The loneliness of solo entrepreneurship in the AI era* Why Audos is an “artist collective” for business buildersWhat's Next: The Future of AI-Driven Founders (00:50:58)* Inbox Zero as the new founder's workflow* The rise of agent-based businesses with no UI or website* Why the next big companies will be solo-agent-ledAs solo entrepreneurship becomes more accessible, platforms like Audos are showing what's possible when AI becomes a true partner in the journey. With a mission to launch a million one-person, million-dollar businesses, Henrik and Nicholas are betting big on everyday founders and proving that you don't need a team to build something meaningful.Audos is more than a platform; it's a movement redefining how businesses are started, scaled, and supported. Whether you're stuck on an idea, unsure of where to begin, or simply looking for a smarter way to work, Audos might just be the co-founder you didn't know you needed.About Henrik WerdelinHenrik is the co-founder of BarkBox and founding partner at Prehype, a venture studio that has launched companies like Roman and Managed by Q. With Audos, he's focused on enabling anyone to become an entrepreneur, regardless of background or technical skill. He's also the co-host of the podcast Beyond the Prompt and a vocal advocate for “everyday founders.”About Nicholas ThorneNicholas started his career on Wall Street before teaming up with Henrik to co-build companies at Prehype. As co-founder of Audos, he's applying more than a decade of startup experience to help others launch scalable solo ventures with AI. He brings deep operational and strategic insight to the solo founder revolution.Connect with Henrik Werdelin on LinkedInConnect with Nicholas Thorne on LinkedInListen to Beyond the PromptConnect 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 Ryan Manucha, research fellow at the C.D. Howe Institute and author of Booze, Cigarettes, and Constitutional Dust-Ups, about a critical issue that remains largely invisible yet impacts every business operating in Canada: interprovincial trade barriers.Despite being a G7 economy, Canada continues to operate like a collection of fragmented markets, with conflicting provincial regulations creating friction across supply chains, licensing, and commerce. From inconsistent building codes to restrictions on transporting wine, the regulatory inefficiencies between provinces quietly stifle economic growth, suppress competition, and make it harder for startups to scale.Ryan outlines how these barriers originated, why reform has been so difficult, and what solutions, like mutual recognition and targeted legislation, are gaining traction across the country. He also shares how political will, industry pushback, and regulatory inertia are all part of the story. If you've ever wondered why your favorite B.C. wine can't be shipped to Ontario, or why it's so hard for businesses to scale across Canada, this episode is for you.Canada's Fragmented Internal Market (00:01:00)* Why interprovincial trade feels like dealing with 13 separate countries* How protectionist policies quietly hurt entrepreneurs and consumers* The story of Gérard Comeau and the constitutional fight over beerThe $200 Billion Opportunity (00:06:43)* Why eliminating internal trade barriers could add up to 7.9% to Canada's GDP* The dynamic benefits of freer internal markets beyond the static estimates* Why mutual recognition matters more than full harmonizationReal-World Examples of Dysfunction (00:09:56)* The absurdities of cannabis excise tax stamps and meat supply chain barriers* Trucking regulations, GST/PST discrepancies, and licensing headaches* The “invisible” cost of credentialing and compliance across provincesWhy the U.S. and Australia Do It Better (00:12:03)* How stronger constitutional laws and market pressure keep the U.S. more unified* Australia's model of mutual recognition and regulatory transparencyThe Politics Behind the Gridlock (00:15:35)* How provincial self-interest, regulatory capture, and lobby pressure slow reform* Why strong leadership from premiers like Doug Ford and Danielle Smith is key* The federal government's role in bridging the gaps and building capacityFixing the System (00:20:56)* Why the Canadian Free Trade Agreement is full of opt-outs and loopholes* How a “coalition of the willing” could lead the way* Using market pressure and interprovincial courts to drive changeWhat's at Stake for Startups and Innovation (00:36:37)* How trade barriers inflate the cost of living and suppress entrepreneurship* Why tech founders and business leaders need to speak up* Ryan's call to action: “If you see something, say something.”About Ryan ManuchaRyan Manucha is a research fellow at the C.D. Howe Institute, a Harvard-educated lawyer, and the author of Booze, Cigarettes, and Constitutional Dust-Ups, which won the 2022 Donner Prize for best Canadian public policy book. He specializes in Canadian interprovincial trade law and is a leading voice on reducing regulatory inefficiencies to promote innovation and economic growth.Connect with Ryan Manucha on LinkedIn: https://ca.linkedin.com/in/ryan-manuchaVisit the C.D. Howe Institute: https://cdhowe.org/Check out Booze, Cigarettes, and Constitutional Dust-Ups (2022 Donner Prize winner)Explore the Canadian Free Trade Agreement (CFTA): https://www.cfta-alec.ca/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 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

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