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Episode 381 of The VentureFizz Podcast features Mike Massaro, CEO of Flywire, a global payments enablement and software company. This is the full lifecycle story of an idea to a pillar publicly traded tech company in the Boston tech scene and it has it all. An international founder who discovered a major problem while trying to pay his tuition at MIT, to Mike joining the company after its Series A, an evolving business model from consumer to B2B, navigating choppy near death experiences to scaling aggressively, then raising multiple rounds of venture funding to an IPO, and more! It really is an inspirational story for all entrepreneurs to hear, as it is never an easy up & to the right story. There is so much that goes into building a successful company and this one does not disappoint. Chapters 00:00 Intro 02:17 Learning to Lead & the Importance of Communication 04:51 Mike's Background & Getting Started in Tech at edocs 15:00 Carrier IQ 19:47 The early days of Flywire 19:52 Navigating the Go-to-Market Strategy 29:52 Moving into the Role as CEO of Flywire 31:55 Challenging Times 35:09 Scaling the Company & Playing Long Ball 39:17 Expanding into New Industries 41:47 The Impact of COVID-19 45:20 Flywire IPO 50:06 Looking Ahead: Growth and Innovation 51:42 Building a Strong Company Culture 57:12 The Importance of a Strong Board of Directors 59:50 Hiring for Leadership Roles 01:02:13 Apps, Books, & Fun Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
Episode 380 of The VentureFizz Podcast features Eduardo Torrealba, CEO & Co-Founder of Lumafield. As part of my conversation with Eduardo, we talk about the importance of working on hard things. Yes, it's hard to build things that seem impossible at the time but it is that level of difficulty that attracts the top talent across engineering and other functional areas to join the company. And, it is that level of difficulty that once you establish product market fit, it can been highly defensible and really difficult to copy. And, it is that level of difficulty that attracts the best investors to fund a company with the hopes that it can be an industry defining company, especially when there is hardware involved. Take Lumafield, a pioneering developer of accessible X-ray CT technology, recently announced a $35M Series B round of funding led by Spark Capital, along with previous investors Lux Capital, Kleiner Perkins, DCVC, Future Shape and angel investors like Tony Fadell - yes that Tony Fadell, the inventor of the iPod and Founder of Nest. When you have an industry leader like Tony, who after seeing their product & vision and ended up committing to an investment into the company after a 30 minute meeting, you know you are on to something big, as he understood the problem first hand based on his experience. In the video version of our podcast, there is a brief video showing Lumafield's platform in action, as you need to see it to truly appreciate the complexity yet the obvious use case it has when building physical products. In the show notes, I have also included a fun video from Lumafield with Tony where they take a look at the evolution of the iPod by looking at the inside of different generations. https://www.youtube.com/watch?v=EC6BQPowf7w In this episode of our podcast, we cover: * Eduardo's background story and his initial journey into entrepreneurship with an IoT soil moisture sensor company called Oso Technologies. * Joining Formlabs and what he worked on in the earlier days of the company and what he learned during the company's growth to a billion dollar valuation. * The full story of Lumafield in terms of how the team came together and the problem they are solving. * The fundraising process and the current state of the company, plus future plans ahead. * Lessons learned from building companies and raising capital. * The importance of a strong company pitch. * And so much more Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
April: Welcome to the Weinberg in the World Podcast where we bring stories of interdisciplinary thinking in today's complex world. My name is April and I'm your student host of this special episode of the podcast. I'm a second year student studying physics and integrated science, and I'm looking forward to learning more about our guest's career. Today, I'm excited to be speaking with Rachel Pike who graduated from Northwestern in 2006 and is now COO at Modern Treasury. Thank you, Rachel, for taking the time to speak with me today. Rachel: Nice to be here. Nice to meet you April. April: You too. To start us off today, I was wondering if you could tell us more about your time at Northwestern as an undergrad. What did you study? And how did you get to your current career path? Rachel: Oh, man, two different parts. The easy part is to say what I did at Northwestern, so I majored in chemistry, physical chemistry specifically. I had a minor in African studies through the center or program for African Studies. And I did my honors chemistry work with Franz Geiger, Professor Franz Geiger in the chemistry department. So that's sort of the what. My major extracurricular was Fusion Dance Company. That's where I spent a lot of my time. How I went from there to here is such a circuitous, crazy path. It is not direct. I left Northwestern and did a Gates scholarship, I did a PhD in chemistry at Cambridge. Loved it, but I was not meant to be a professor. You could ask John Pyle or Franz Geiger, both of whom advised me. It's just it takes a very certain wonderful mindset, but it's not me, to be a lifelong academic. So I left academics and got an amazing role in venture capital and got to learn all about startups from the investing side. Did that for just over four years. And in my last couple years, started getting really close to one of our companies and operating with them and ended up launching products for them and got the bug. Realized that that was a better calling, a better match for me, which we can talk more about what I mean by that. And moved into operating, so then I worked for a health tech healthcare software company and then I moved here into FinTech. So it sort of couldn't be more random, but also each step made sense only as one step. It's just as a sum, they lead you very far from where you were. Not normal in any sense, but in the end I just don't think anything is normal. All paths turn out to be good as you make these accumulation of small decisions. April: Yeah, okay. What are the most challenging and rewarding aspects of your current job then? Rachel: There's a lot. The hardest thing in a startup, there's so many things that are hard about startups, growing startups, but prioritization and focus is one of the hardest things. And you have to actually prioritize not doing things you want to do, which is very antithetical to what it's like to be a driven, hungry person and be in a company of 200 driven, hungry people. You want to do everything that you see that seems like a big opportunity and a challenge that we need to fix, but you can't. There just literally is not enough time in the day and there's opportunity cost to lack of focus. So I think the hardest thing is, the phrase I always use with my teams is you have to let that fire burn. You just have to pick things that you know are broken that you're not going to fix, that it's not the highest priority thing to fix or things you want to work on that you know we just can't go work on that thing right now, we have to work on this other thing. So it's very counterintuitive and I would say that's the hardest thing to learn when you enter startups, how to get through that kind of mindset. April: Yeah, prioritization is pretty hard when there's so many options. Rachel: Yeah. Yeah, when there's so many options and when you're hungry and you feel like a small startup is always up against big Goliaths, so there's a billion things you can do to go after companies that are bigger. So I would say that's the hardest in terms of not the content of what we do is the wrong word, but what Modern Treasury builds and how we bring it and sell it in the market and how we run the company. Letting fires burn and ruthless prioritization is the most unnatural part of working for a startup, I would say. On the interpersonal part, so not what we do, but how we do it, like in every stage of life and everywhere I've been, the hardest part of anything is getting really good at giving and receiving feedback. And that is a lifelong, you have to dedicate your life to it and using that to make decisions with people. April: Could you talk a little bit more about what your company does and what your role is? Rachel: Yeah, sure. So I'm chief operating officer of Modern Treasury. Modern Treasury is a payment operations software platform. So we help companies of all sizes, from other startups to huge big public companies, manage their money movement. And it sort of sounds like a back office thing, but really, we actually mostly get bought by product and engineering teams. And those product and engineering teams that are our customers want to do payment stuff. They want to build a digital wallet or embed payments in their application. Or we also serve non-tech companies, so you're buying a house and you need to pay the real estate agent or you're buying a house and you have to go through the title and escrow process on that home purchase. A lot of money moves around in those businesses. In fact, it's core to all of those products to move and manage and track money. So we build the software for that. Complex payment systems get built on top of us and complex payment products. We have an engineering database product called Ledgers, which is how you, with high performance and perfect fidelity, track balances, which is a really hard computer science problem, although it seems that it should be easy. It's a very hard computer science problem. And then you can imagine that as we grow and have more and more data and understanding, we're building more and more AI into our platform, so teams can run in a safe way with AI helping them. So anyway, yeah, it's a complicated thing that we do, but we help companies move and manage their money movement. April: Okay, cool. So how well did college prepare you for this career, do you think? Or what was the most important skill that you learned from college? Rachel: There's so many things that you learn in college as you sort of separate from home life and become your own person. I think there's soft skills and hard skills. I obviously don't use the traditional academic knowledge that I got in my undergrad and graduate experiences in chemistry, not a chemist anymore. But I don't think there's anything that can replace scientific training in how to think and pursue questions and how to separate how to go through a research process and understand and also understand the limits of your knowledge. That is a very profound experience the more advanced you get in science. I didn't even get that advanced. But in understanding the boundaries of what the community of scientists knows and what personally and how to ask questions, build a hypothesis, and go again. And I know that the hypothesis process is something you learn in like second grade or fourth grade or whatever, you go to school, but truly, that process is very hard, like holding yourself to a standard of making a rigorous, very thought out hypothesis and understanding what would prove or disprove that. In a scientific setting in a lab, sometimes it's a little easier to go through that process. Hey, if this experiment works, I'll see X. In a business environment, that's actually very hard. How do you measure? Is that metric actually counting that? What else is getting conflated into these signals and systems? And then almost everything, unless it's something like website clicks or latency or something that's directly measurable, almost all the signal that you get is mediated through people. So not only do you have to go through this process of trying to constantly get to truth, everything that you're trying to pursue is going through people. So I would say academically, that's the longest lasting impression for me. My team gets annoyed because I say things like rate-limiting step all the time, which is a chemistry phrase. So it taught me how to think. I think another very impactful part of my college, two other very impactful parts of my college experience, Fusion was just getting started, I was one of the people that helped get it started. And starting a club that is, very proud to say it's long-standing and I could never audition and get accepted today, is a lot like starting any organization. How do you run things? What is governance like? How do you navigate people? What are the expectations? How do you communicate that? How do you do things excellently? Starting and building a club is very similar to starting and building an organization, it's just we get a lot more complicated with time. So I learned a lot in that process and running rehearsals and putting on a show and what it's like to run an audition process. I have very fond memories of that. And lastly, I would say is I studied abroad for all of junior year. And I don't know if this is true, but someone along the way of me, because chemistry has so many sequential requirements, and it was very hard for me to figure out how to do those requirements and still be away for a year, someone along the way told me I was the only chemistry major who was ever away for a year then. It's probably not true now. I also don't know if that's true, speaking of rigorous hypotheses, so that's an aside. But the experience of being abroad, I was in Tanzania, was obviously profoundly eye-opening. And being in multiple cultural contexts, not just for travel, but for a long period of time with real life, day-to-day life, it just changed my whole perspective on the world. And then same thing, I lived abroad again for my PhD, so I was abroad on and off again for about like five out of six years. It really changed my perspective on the world, my perspective on people, and I only got that opportunity because of college. April: Yeah, college is a great time to study abroad and do those things. Rachel: Yeah. Yeah. April: [inaudible 00:09:31] possibilities, yeah. Also, it's so interesting to hear that you found Fusion or helped found it because it's such a big thing on campus now. Rachel: It's such a huge thing now. April: [inaudible 00:09:39]. Rachel: Yeah, no. We really grew it, but it was small when we started. We were just in parades and doing small shows, and then we finally started putting shows on in Tech my last two years there. It was very fun, really meaningful experience. April: That's great. Yeah. Rachel: Yeah. April: Then you kind of touched a little bit on this, but could you elaborate more on the biggest adjustment you had to make going from undergrad to industry? Rachel: I actually got this piece of advice when I went from my PhD to venture. I went and had coffee. One of the coolest things about Silicon Valley and the technology community is that it's very open and if you ask people for advice, they're really open to giving it and having conversations like this, but times 10. So one of the coffees I had was with someone who had also had a PhD and moved into venture. And he said something to me that has always stuck with me, which is the biggest adjustment you're going to have to make is the complete lack of rigor in business decisions, which is hysterical, and I don't think fully true, which I'll explain, but it is true, the standards of rigor in academic science are completely different than the standards of rigor in making a business decision. So I always think about that moment of you got to get used to the fact that they make decisions with less information. I think that's only partially true. I think one of the reasons is true is what we talked about, that data is often mediated through people, and so it doesn't feel as rigorous. But actually, the decisions you're making about and with people are just as important. It's just different, and that is a very big adjustment. There is not always right. It's not a test or a thesis or whatever, and that's a big change. There's just making a decision and then owning the consequences of the decision and upside of the decision. But that, it's a huge change. So that's what I would say one of the biggest adjustments that I had to make. On a more practical basis, specifically like Silicon Valley and startups, they're just opportunities, they are roles, sorry, environments with very little management structure. That's the whole point, you're doing something from scratch. There's not someone telling you what to do. That's not true if you go into industry and go to a very big technology company or a bunch of industries I've never been in that are managed in totally different ways. That obviously is like two hops from undergrad. I had a PhD and then I had time in investing. But yeah, working without a lot of oversight, also a big change. April: [inaudible 00:11:58]. The training you get from undergrad to grad school and then going to industry, it's a bit of an adjustment, but yeah. Rachel: Yeah. April: It's an interesting problem, how you would apply your scientific training to the business world. Rachel: Yeah. What do we know and what do we not know, is a question I often try and ask myself. In fact, I was thinking about it late last night about something we're trying to figure out in our business. And it's hard because you sometimes feel like you know things that you don't. It's a trick of the brain. April: Then sort of related, but what are some current trends that you're seeing in the industry or in the area that you work or some of the modern day challenges? Rachel: I would be remiss if I didn't say the most enormous trend in technology right now is AI. So there's sort of no other answer you can give them that, this unbelievable explosion in technical capability and then it's application into all kinds of industries. So I don't know, Modern Treasury has been such an interesting ride. One of the things that is interesting about startups is you really cannot predict the world around you. So this tiny company, we're not tiny anymore, but this company that was tiny, I was the first employee, it was just the four of us, just us chickens in a co-working space, trying to build this payment operations company. And in the interim, COVID happened and we could never work together again until many years later. And then Silicon Valley Bank crashed and there were multiple bank failures all over the country. If that had happened two years earlier, it would've taken our business down. As it happened, it accelerated our business like, oh my god, better lucky than good. Now we're going through an AI transformation. Crypto has gone up and down three times in those six and a half years. It's just wild what happens around you and how that affects the work you do day to day. So I don't know. One thing I would say is things are unpredictable. I have never learned that more than in this particular job I'm in now. April: For sure. Would you say that kind of unpredictability is characteristic of working at a startup versus a larger company or even in academia, for example? Rachel: It's a good question. I'm not sure I'm the right person to answer because I've never worked in a huge company. I've always worked in... Investing is also in the business of startups, so I don't think I'm the right person to answer. I think I have a hypothesis that it affects you less. If you're in a big established company where things don't go, the amplitude of the curve isn't quite the same level, I don't think you necessarily feel it as much. AI is happening to everyone no matter where you work, right? I assume you're all using it every day in your undergraduate environment. So that's universal. I think how it affects your job or what you're using it for is probably different. If you're a computer science undergrad, it's really affecting what your experience is like compared to five years ago. If you're a physical chemistry undergrad like I was, doing some frequency generations two floors below in the basement of Tech, I'm sure it's helping on the research side, but nothing changes the lasers but hands yet, until the AI robots come. So I just think it depends how much the volatility affects your certain area of pursuit. April: That makes sense, yeah. So with all this volatility, how do you approach work-life balance? Rachel: I don't think there is any, in all honesty. My mornings are totally insane between the 27 things I'm trying to do, and I'm always later than I want to be to my first meeting, and that just is what it is. I actually have a four-page document called Working with Rachel and for people to get to know what it's like to work with me when I hire and bring on new teams or new managers, et cetera. And one of the things that's in here is my mornings are insane and I'm always late and I'm totally frazzled and whatever, but I can almost always talk in the afternoons and nights almost any day. You just have to know your rhythm. Exercise is a huge part of my management of work-life balance. So probably started before Fusion, but definitely long, hard dance practices helped me get through undergrad. And at every phase of life I've sort of had a different exercise, deep exercise pursuit and crutch, I would say, to get through the craziness of life. So that's really important for me personally to focus and, I don't know, just get to a different level than the overly intellectual all the time, brainwave level into the body and into the breath. So that's huge. And then more tactically, I'm terrible about always having my phone around, but I do always have my laptop on do not disturb. So when I'm working in my environment, Slack and email are going constantly nonstop, especially Slack. So if I actually want to write or actually want to read or actually want to listen, the pings don't help. But to do my job, I need to be ever present with my teams. So just practically, it's always on do not disturb, and then I pick when I check. So I don't know, that goes from small to big of how I manage and cope with work-life balance, but it's the truth. April: There's some pretty good tips though. Sympathize. Rachel: Do people in Northwestern use Slack? Is that part of an undergrad life or no? April: Some of the clubs use it. I have a couple- Rachel: More texting? April: Yeah, they use GroupMe. Yeah. And then I know a lot of the research labs use Slack. Rachel: Oh, that makes sense. April: Yeah. Rachel: Yeah. But less of the all in every day, all encompassing, et cetera. April: Yeah. Rachel: Yeah. April: Do you think those work-life balance habits were developed during your graduate school years or in college or as you go into industry? Rachel: I don't know about do not disturb because technology has, not technology, but the physical hardware of communication has advanced so much. I'm so old compared to you guys. And when I was an undergrad, Facebook came out when I was a sophomore. So just think about how different of a world it was then. We had really kludgy Hermes email, Hermes email server at Northwestern. So the never ending notification encroach on our life, it existed then. And of course, we texted, but we texted T9. So it's just a different world. So we had it and obviously we all needed to learn how to focus, but not to the extent that it is a challenge for people in college and PhD programs now, I don't think. That's my guess as an outsider. But some things, like exercise, 100%. I think those things get developed earlier on. But once you're in university, it's your decision to continue to pursue them and how much you pursue them and how much they're a part of the rhythm of your life. So that, I would say for sure, I established for myself at Northwestern. April: Was there anything at Northwestern that you wish you had participated in that you didn't? Or the other way around, that you did but you wish you had opted out? Rachel: I wish I'd done dance marathon earlier. I only did it senior year and it was like what an incredible experience. Once you had the experience, then you realize, oh, I should have been doing this the whole time because it's like, I don't know, it's just something you could only do in an all encompassing environment like that. My major regret at Northwestern is actually academic, which is a silly small choice, but I studied French in elementary and high school and I really wanted to learn Spanish as a California person. So I took it in college, but that ate up a lot of quarters of getting my language credit because I was going from scratch. So my regret, and I'm not very good at languages anyway, so it's not like it stuck around, my regret is actually not that I took it, it came from good intentions, but that I used up six possibilities of taking classes in non-chemistry, non-African studies. Just you're spoiled for opportunity in undergrad of going to learn about everything. And it's one of the amazing parts about Northwestern and the way they do the core curriculum, that everyone has to learn a little bit of everything somehow. And that's my biggest regret. I regret not taking a philosophy class or a whatever. I took one world religion class, but should I have taken two. That breadth is the thing that I crave and miss. And by the time you get to PhD, and certainly in the British education system, you specialize earlier, so that opportunity's gone. You can obviously go to lectures and stuff, which I did, but it's not the same as being in a class. So yeah, my biggest I wish I had is I wish I hadn't taken Spanish in that environment and done it some other way and had six quarters to go just do dealer's choice of interesting things in departments I never would've gotten to know. April: Did you have the Weinberg language requirement? Rachel: Yes. April: But you got out of it with French? Rachel: I could have taken I think only one quarter or no, I can't remember how my testing was, sorry. But I could have taken either one quarter or zero quarters of French. But I instead put myself from scratch with Spanish because I've never taken it before. So I don't know, I just think that was good intentions, wrong decision. April: It happens. Rachel: Anyway, yeah, that's my biggest, I don't know, regret is too strong a word, but if I had a magic wand and could do it all over again, I would've taken more general humanities or other types of classes. April: Speaking of classes, what were some of your favorite classes at Northwestern? If you were to- Rachel: Oh my God, do I even remember? April: Yeah. Rachel: The physical chemistry. I don't remember if it's physical chemistry honors class or physical chemistry practicum. It's the last thing you take senior year with real world lab problems. And that class, there were six of us and we were in lab, I don't know, four or five hours twice a week. We were there all the time. It was so hard and so intellectually stimulating. I remember that class extremely well. I remember my world religions class. I don't remember who taught it, but it was the only time I ever studied anything like that. That was interesting. And I remember some of the seminar debates I had with other people. I don't know, those are the two that come to mind. April: Very cool. Now that we're getting towards the end of our time, the last question is if you were to look back on your undergrad, which I suppose we already did a little bit, but what advice would you give, I suppose, other people in your position? Rachel: I have one very specific piece of advice that I give to a lot of undergrads or people early in career, which I can share. And then the other is one that I give all the time now, but I don't know if it's relevant, but I'll share that one too. I'll start with the second one first because it might be less relevant. The one I give now, that is also can be very counterintuitive to people who are working on giving and getting feedback and what it takes to truly manage and motivate teens, is that clarity is more compassionate than kindness. And I don't mean don't be kind because the goal is, of course, to deliver clarity with extreme compassion and care. But it's nerve wracking to tell someone, "You're not meeting expectations for this role," or, "We did not hit our goal as a company and we have to make this really hard decision," or whatever the hard thing is that you have to say. It's harder to say it clearer than to say, "Well, I know you this and what about that, and I'm so sorry and this is hard, blah, blah, blah. But I think maybe the role," and then the person walks away and is like, "I don't know what I heard," and they don't know that they're not meeting expectations. So I would say that took me, it's a lifelong pursuit, I don't think I'm perfect at it yet. No one anywhere in my academic career, undergrad or grad, really taught me that. So that's one. I'm not sure if that's relevant for a sophomore undergrad, but maybe. April: I think so. Rachel: Could be. The advice that I often give to undergrads or very early in career folks, who are either looking for startups or end up whatever. I actually have a call with one this afternoon who's a woman who's a family friend who's thinking about a job change and she's like just wants my advice. I think that one of the unrealistic things that somehow culturally gets imbued in very driven and successful students, like all of the people who get accepted to Northwestern, is that you can have it all in your first job. And that is fucking bullshit. And I think it leads to a huge amount of heartache and angst because it's not true. Now, what you can have is one or two awesome things. So when you're, like you graduated at 21 or 22 or whatever age you are, you have usually no strings attached. You can make incredible broad decisions that you can't make later on and that affords you the opportunity to go do amazing things. But what you can't do is do it all at once in that one first job. So the specific example that I often give is you could pick where you work or what industry you work in or that you make a lot of money, but it is basically impossible to pick all of those things. So if you're a econ undergrad at Northwestern, of which there are many, it's probably pretty hard to work in a mission-driven company, make a 300,000 a year banker undergrad job, and move abroad for that first job as an American, blah, blah. That doesn't exist. If you want to make a lot of money, there are incredible programs with established firms where they really reward you for hard work really early on and that's the trade that that job encompasses. And if that's valuable to you, awesome. But you're probably going to be in one of their major locations and they're unlikely to ship you to Sydney for being 22. If you have the opportunity to go do something extremely mission driven that speaks to you, that's amazing, go do that. But you're probably not necessarily going to pick where or you're not going to be highly compensated. So I often talk to people who are in their early 20s who are like, "But I really want to be in New York, but I really want to work, I want to be in the arts and I want to do this, but I need a lot of money to support this thing." You're like, "You can't have it all." And that's not bad, it's just true. And it's much more compassionate for me to tell you, April, if you want to pursue physics, that's awesome. I was a PhD student. You're not going to make any money in your 20s. April: That's true. Rachel: But you might work at the cutting edge of science in something incredible that super motivates you. That's awesome. So if I could wave a magic wand for undergrads, I would get rid of that angst of that decision making. And the decision can have angst because it can be hard to choose a path, but the you can have it all, I think is a great lie. That's not fair to people in their late teens and early 20s in undergrad. I thought of another one, so I'm going to give you a third, even though you didn't solicit another one. Which is you at the beginning of this you asked about my career, which is kind of all over the place from a traditional perspective. I was in academics and then I went to investing, and then I went to startups. And then in startups, I was in healthcare and I went into payments in FinTech. It's all over the place. Every time I made the jump, everyone around me told me I shouldn't because I was leaving their path. And to be an amazing professor, you stay in academics. So people leaving academics is like, they don't want to give you the advice to do that. Or when you're in investing, the way you stay in it, and particularly in private investing, it's long feedback cycles. You got to stay and practice the craft. So I said, "Hey, I'm an operator at heart. I'm going to go do this thing." Some people encouraged me, but many people said, "Why would you ever do that? Why would you ever leave the job you have? Stay in practice." And then same when I left healthcare and picked a totally new thing. So that's more mid-career advice, which is like it's okay to leave that perfect tracked path and trust your gut. April: Yeah, that's actually really valuable advice, so thank you. Rachel: I hope so. April: Yeah. Thanks for taking the time out of your day to talk with me and to give all this advice to whoever's listening. Rachel: Yeah. It's awesome. Nice to meet you, April. April: Mm-hmm. And thank you for listening to this episode of the Weinberg in the World Podcast. We hope you have a great day and go Cats.
In this episode, Dan dives into the real edge that separates pros from amateurs: tracking. Whether it's your fitness, sleep, screen time—or your trades—if you don't measure it, you can't improve it. Dan breaks down how consistent tracking leads to better performance, the concept of trading expectancy, and why journaling your wins and your mistakes is the fastest way to real growth. He also explains a common and destructive habit: averaging down, and why it's like giving a raise to your worst employee. This is your call to get serious about trading—like a professional, not a gambler. What You'll Learn: Why journaling and data tracking are essential for trading success The true meaning of trading expectancy and how to use it Why small losses are part of the game—and how to make them count Why doubling down on losers is the fastest way to blow up your account The difference between being a trader and a gunslinger Why TradeTrak exists (and how it eliminates your excuses) Want more trading insights? Get my Free Chart of the Day: Stock Trading & Technical Analysis Education & Courses - Stock Market Mentor Join Stock Market Mentor for just $7 for your first 14 days: Member Signup - Stock Market Mentor Don't forget to subscribe, and follow us on: X: https://x.com/DanFitzpatrick X: https://X.com/Scottrades IG: @realstockmarketmentor
Episode 379 of The VentureFizz Podcast features Graham Brown, Managing Partner at Lerer Hippeau. It seems like just yesterday when I first interviewed Graham seven years ago back for Episode 32 (https://soundcloud.com/venturefizz/episode-32-graham-brown-partner-at-lerer-hippeau) when Lerer Hippeau was announcing its sixth fund. This puts Graham in elite company as one of the very few people who have made a repeat appearance on The VentureFizz Podcast – which I'm sure is an incredible honor for Graham to achieve… just kidding obviously. But in all seriousness… in that first interview, we discussed Graham's background (he's actually a fellow native of New Hampshire) and the early innings of his career, so in this interview, we were able to get much deeper into other topics around startups and fundraising. As you might know, Lerer Hippeau is one of the top early stage VC firms in the country and they recently announced another new fund, that one being LH Fund IX, a $200M fund which is exclusively focused on early stage companies. In this episode of our podcast, we cover: * How to land a job in venture capital. * How our original interview discussed AI seven years ago and what Graham is excited about in terms of this platform shift. * The renewed interest in energy startups and the innovation in this sector. * What he's looking for out of a first meeting with an entrepreneur & the process of getting funded. * PLG versus founder led sales and advice on avoiding entrepreneurial envy. * The latest on the NYC tech ecosystem. * And so much more Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
The health tech fundraising environment shows promise. More deals are occurring alongside modest growth in total funding, suggesting a shift toward realistic valuations. In this episode, Julie Ebert, managing director of Healthcare and Life Sciences for Silicon Valley Bank, discusses the key findings from their annual Future of Health Tech report, highlighting the growth of AI adoption in healthcare as well as the increasing focus on specialty value-based care models. She noted a third of health tech companies that have raised money have an AI component, and half of the investment is in the administrative use of AI. Julie also explains that value-based care is moving from primary care to specialties due to these areas being complex and costly. Finally, she emphasizes that Silicon Valley Bank is playing a bold role in providing transparency to companies by offering working capital solutions and releasing reports that allow companies to have the knowledge to move forward. Tune in and learn about the current landscape of health tech investment and the future of value-based care! Resources: Connect with and follow Julie Ebert on LinkedIn. Follow Silicon Valley Bank on LinkedIn and visit their website. Read this year's SVB's Future of Healthtech report here.
In today's financial landscape, innovation is more than just a buzzword—it's a driving force separating industry leaders from those left behind. Finding, nurturing, and scaling the right technologies has become a specialized skill set all its own. Joining us today is Ryan Falvey, Co-Founder and Managing Partner of Restive. Ryan has spent the last 15 years at the forefront of identifying and championing market-changing innovations in financial technology. His track record speaks for itself—since 2015, he's invested in 40 early-stage fintech firms that have collectively grown to represent approximately $3 billion in aggregate equity value. Before founding Restive, Ryan led the development of the Financial Solutions Lab, a groundbreaking partnership between JPMorgan Chase and the Financial Health Network. His experience also includes developing payment solutions with leading tech companies at Silicon Valley Bank and serving as Strategy Group Lead at Enclude Solutions, where he oversaw global strategy consulting for mobile-enabled financial products. “We're not investing in fintech apps — we're investing in infrastructure,” Falvey explains early on. That distinction underscores a larger trend he sees in the market: a move away from flashy consumer-based apps toward foundational financial APIs. It also focuses on backend tooling and embedded finance capabilities. Falvey's insights aren't theoretical — they're rooted in his day-to-day decisions as an investor. At Restive, he's helping startups through early product development. He emphasizes practical scalability and regulation-ready business models. “You don't build a consumer business by launching an app anymore,” he says. “It's not about the app — it's about access, context, and integration.” From fintech regulation to platform economics, Falvey shares grounded wisdom. He focuses on how successful startups are navigating today's uncertain investment landscape. What's emerging is a more nuanced strategy for funding — one that prioritizes durability over disruption.
“Une cession est choc violent dans ta vie”. Voilà ce que conclut Quentin Guilluy au moment de raconter sa cession d'Andjaro à Silae.Il faut dire qu'il a vécu des moments très forts.Déjà parce que l'aventure Andjaro démarre alors que Quentin n'a que 24 ans. Après un pivot rapide, lui et ses 3 associés lancent une plateforme de gestion pour le remplacement de personnel en urgence. Un positionnement qui attire de grands comptes comme Elior ou Sodexo.Puis arrive un moment charnière : Andjaro dépasse les 5M d'ARR, une bascule selon Quentin. De nouvelles opportunités s'ouvrent à eux, et se posent alors la question : lever ou vendre ?Rapidement, ils rencontrent plusieurs acteurs, et Silae se positionne très vite. Vont suivre alors plusieurs mois de négos, marqués par ce que Quentin qualifie comme l'un des pires jours de sa vie : la faillite de la Silicon Valley Bank qui menace de faire capoter le deal à quelques semaines de la signature.Une signature qui mettra d'ailleurs plusieurs jours à arriver, et que Quentin fêtera seul, chez lui, avec une bière commandée et livrée à domicile..Dans cet épisode, Quentin revient sur tout ce qu'il a traversé, une aventure qu'il qualifie comme un “enchainement de sprints” et qui auront fini par l'user. Il raconte notamment :sa déprime post-cession : un moment où il se sentait très seul et comment il l'a surmonté notamment grâce à Rachel Delacourla naissance de son fils peu après la cession qui lui fait prendre conscience qu'il fallait faire pausesa nouvelle vie en tant que CEO de TeamstarterUn podcast conçu et produit par FeuilleBlanche, l'agence qui crée des contenus et des médias d'inspiration pour les marques et les dirigeants.À vos écouteurs
Episode 378 of The VentureFizz Podcast features two of the Co-Founders of Copley - David Henriquez, CEO and Sean Marshall, Chief Operating Officer. It is just a necessity for any thriving tech ecosystem. You need companies that scale and people from those companies take their learnings and go off to start their own company. HubSpot has been a big feeder of alumni who have gone off to start companies and you are starting to see the next wave with founders coming from Toast and now Klaviyo. What's even better is when you see the founders of these anchor tech companies fund the next generation of entrepreneurs. David & Sean were part of the hypergrowth scale up years at Klaviyo that ultimately led to a pillar public tech company in the Boston tech area. David held a variety of engineering & sales engineering roles, whereas Sean led global sales. Now, they are building a new company with a third Co-Founder & CTO, Mike Torra called Copley. It is an AI-Powered Content Optimization Platform that allows marketers to quickly create, test & deploy content everywhere. Copley recently announced a $4.8M pre-seed round of funding led by Asymmetric and Underscore. And yes, the founders of Klaviyo - Andrew Bialecki and Ed Hallen are investors… plus Tom Ebling & Jeffrey Barnett of Demandware which was acquired by Salesforce. In this episode of our podcast, we cover: * Startup fundraising advice for first-time founders and the importance of building long term relationships with investors. * The background stories for both David and Sean. * The explosive growth years at Klaviyo. * The full story of Copley in terms of the problem they are solving and their unique approach to finding early adopter customers. * GTM advice for early stage startups and the importance of storytelling. * And so much more. Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
Episode #376 features Prem Sharma, Founder & CEO of Tandem. When you are a serial entrepreneur like Prem, you are probably coming up with lots of ideas but how do you decide which one is viable to focus on and actually build a company around? For Prem, it comes down to recognizing an experience that is broken and lots of market research. And this is not light market research, this is total submersion into the industry market research. The interest in Tandem started with a puppy arriving at his home as a new family pet and an experience at the vet. During a visit, he recognized how fragmented the industry was and how inefficient the office operated. This got him thinking about a unified vet experience. But, before jumping into build mode, he spent time working at veterinary clinics and recognized that the appetite for adopting a whole new system was not going to happen, so just a new tech platform wouldn't be the answer. Instead, he had to build a healthcare company from the ground up that includes a comprehensive service leveraging onsite clinics, mobile care, telehealth, and a whole new tech stack for running the overall operation. Tandem raised $10M in funding earlier this year to redefine veterinary care with a comprehensive solution through its novel approach to care delivery, AI technology, and more. Chapters: 00:00 Prem Sherma Intro 02:48 What Ideas Should You Build a Company Around? 07:00 From Childhood Dreams to Startup Realities 10:39 Navigating the Startup Landscape 14:30 The Full Story of DayToDay Health 18:16 Building Impactful Solutions in Healthcare 21:50 The Complexity of Patient Care 27:03 Lessons Learned From Building DayToDay Health 29:45 All the Details about Tandem 38:26 Current State of the Business & GTM 44:36 Advice for Building a Healthcare Company 50:00 App & Book Recommendations Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
In this episode of The Eric Ries Show, I'm joined by Jess Mah, an extraordinary entrepreneur who launched her first six-figure business in middle school and went on to co-found more than 10 companies collectively valued at over $1 billion.Jess rose to public acclaim and earned a spot on Forbes' 30 Under 30 while privately facing the reality that her startup, inDinero, was far from profitable. That moment of failure became her turning point. Without VC funding, Jess had to rethink everything: her approach to building companies, her work methods, and her true priorities. What emerged was a more sustainable approach to entrepreneurship that prioritizes long-term thinking, authenticity, and mental health.In our conversation, we explore:• The hidden upside of failure and how it transformed Jess's career• Why inDinero's failure to attract VC money was ultimately a blessing in disguise• How AI is lowering barriers to starting a business with less capital and fewer workers• Why authenticity beats performative positivity• How Jess manages her mental health and her iterative learning approach inspired by 'kodawari'• The “independent director problem” and how investor-beholden directors can undermine long-term strategy • Why funding private companies is a frequently overlooked way to create global impact• Jess's 90-day trial method for evaluating executive talent • Jess's work supporting other female founders• And much more!—Brought to you by:• Vanta – Automate compliance, manage risk, and prove trust—continuously. Save $1,000 today.• Explo – Explo helps teams deploy customer dashboard portals. Get Started.—Where to find Jess Mah:• LinkedIn: https://www.linkedin.com/in/jessicamah/• X: https://x.com/jessicamah• Website: https://jessicamah.com/—Where to find Eric:• Newsletter:https://ericries.carrd.co/ • Podcast:https://ericriesshow.com/ • YouTube:https://www.youtube.com/@theericriesshow —In This Episode We Cover:(00:00) Intro(02:30) Why happiness eludes so many high achievers(10:15) Why Jess considers herself lucky that inDinero was not a rapid growth company(14:20) How Jess discovered that habits like meditation and exercise drive success(17:10) Silicon Valley Bank: why short-term thinking and exploitation are bad business strategies(24:00) Why it's so hard to break out of the default culture of rapid growth (28:30) Why Jess walked away from the Silicon Valley playbook(33:11) Where Jess's strength comes from (40:25) Why true accountability doesn't require a combative board(44:43) What good governance looks like—and why it's different for every company(50:10) Jess's long-term approach to goal planning, both in life and work (51:34) Jess's barbell approach: balancing cool businesses with world-changing tech(58:15) Jess's approach to hiring and spotting well-matched talent(1:04:20) Strategies Jess uses to manage her emotions and learn from failure(1:10:54) Lightning round —You can find the transcript and references at https://www.ericriesshow.com/—Production and marketing byhttps://penname.co/.Eric may be an investor in the companies discussed.
How do you navigate a crisis? Data breaches, bank collapses, CEO transitions, and global recessions are just a few of the hazards that can challenge general counsels and other executives and threaten the future of their businesses. In this episode, we're sharing stories of resilience and tough lessons learned from some of the legal and business leaders who have joined us on The Abstract. Keep listening for advice that could prove handy in an emergency. Read detailed summary: https://www.spotdraft.com/podcast/episode-93 TopicsIntroduction: 0:00Vanessa Wu, GC at Rippling, on surviving the collapse of Silicon Valley Bank: 0:42Joe Sullivan, CEO of Joe Sullivan Security, on the personal fallout from a data breach at Uber: 7:45Heath Tarbert, Chief Legal Officer and Head of Corporate Affairs at Circle, on gaining career momentum from the great recession: 12:40Kristin Sverchek, former President of Lyft, dealing with executive roles and hiring during a crisis: 15:07Dan Haley, General Counsel and Corporate Secretary at Guild, on managing CEO transitions in a time of crisis: 18:25Sean West, Co-Founder at Hence Technologies, on how general counsels can get better at navigating political risks: 21:55Chelsea Grayson, Managing Partner of Corporate Restructuring at Pivot , on sitting on a corporate board during a crisis: 24:21 Connect with us: Tyler Finn - https://www.linkedin.com/in/tylerhfinn SpotDraft - https://www.linkedin.com/company/spotdraft SpotDraft is a leading contract lifecycle management platform that solves your end-to-end contract management issues. Visit https://www.spotdraft.com to learn more.
What truly shapes a thriving organization—clever strategy or meaningful culture?In this powerful conversation, host Denis Gianoutsos is joined by Ken Wilcox, former CEO of Silicon Valley Bank and author of Leading Through Culture. With a background in philosophy and a career that spanned from Silicon Valley to Shanghai, Ken shares how leadership rooted in values and emotional intelligence can outperform even the sharpest strategic plans.Denis and Ken explore the challenges of launching a bank in China, the cultural dynamics that shape leadership styles, and why leaders must walk the talk to build teams that thrive. From Theory X vs. Theory Y to real-world examples of cross-functional collaboration, this discussion offers practical insights and timeless principles.Tune in to hear a thought-provoking exchange that redefines leadership—and invites you to lead with both head and heart..From Academia to the BoardroomPassion for philosophy shaped his worldviewPivoted from teaching to banking during inflationMoved to Silicon Valley to fuel tech innovationBuilding a Bank in China: “One Bed, Two Dreams”Led a joint venture with the Chinese governmentFaced cultural and political complexitiesGained deep respect for Chinese business cultureLeading Through Culture: Legacy of His Father's LessonsInspired by his dad's leadership teachingsBuilt culture around motivation and meaningLeaders must intentionally design cultureHeart Over Mind: Culture That Drives PerformanceCulture trumps strategy in impactFostered horizontal, team-based collaborationReinforced values through actions and rewardsWhat Makes a Great Leader: Lessons from LincolnLincoln embodied humility and visionEmbraced disagreement to make better decisionsGreat leaders inspire with purposeThe Future of Leadership in a Polarized WorldGlobal shifts are reshaping leadershipPeople now seek protection, not just inspirationLeaders must model behavior and stay curiousKey Quotes:"Strategy speaks to the mind, but culture speaks to the heart." - Ken Wilcox"Every organization has a culture—whether they want to or not." - Ken WilcoxBook a Strategy Call with Denis https://app.leadingchangepartners.com/widget/bookings/callwithdenisgianoutsosThe 10 Proven Ways to Lead and Thrive in Today's World Executive Guide Featuring 10 Key Themes and 42 Strategic Insights from Worldwide Leaders https://crm.leadingchangepartners.com/10-ways-to-lead Connect with Ken:Website: https://kenwilcoxauthor.com/books/leading-through-culture/LinkedIn: https://www.linkedin.com/in/kenwilcoxsvb/Connect with Denis:Email: denis@leadingchangepartners.comWebsite:
When you hear the term self-made, you might think of grit, long nights, and entrepreneurial tenacity. But in Suneera Madhani's case, it's a generational story—one forged in gas station aisles, sharpened in corporate boardrooms, and carried forward in billion-dollar exits. Suneera's latest company, Worth AI, has attracted funding from top-tier investors like Silicon Valley Bank, Ingeborg Investments, DeepWork Capital, and Florida Funders.
When people think of how early-stage companies finance their initial growth, venture capital and private equity are often the first things that come to mind, but growth and venture debt have become increasingly prominent in the financial landscape, especially in the wake of the collapse of Silicon Valley Bank. Ross Ahlgren, a portfolio manager in the growth debt team at BlackRock, joins Oscar to help us understand the current themes driving growth and venture debt opportunities, how his team identifies and evaluates emerging trends, and the role of relationships and local presence shaping the future of this market.Go back and listen to episode 120 "Why Are These Events Different to 2008?" where we break down what happened at Silicon Valley Bank in 2023.00:00 Introduction to Venture and Growth Debt01:31 Understanding Venture and Growth Debt02:45 The Role of Venture Debt in Company Expansion04:28 Misconceptions and Risk-Reward in Venture Debt07:13 Impact of Silicon Valley Bank Collapse13:32 Regional Differences in Venture Debt15:01 Investment Opportunities and Risks18:53 Conclusion and Final ThoughtsFollow The Bid on Spotify & Apple Music, and subscribe to us on YouTube. This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to the names of each company mentioned in this communication is merely for explaining the investment strategy and should not be construed as investment advice or investment recommendation of those companies. In the UK and Non-European Economic Area countries, this is authorised and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorised and regulated by the Netherlands Authority for the Financial Markets. For full disclosures go to Blackrock.com/corporate/compliance/bid-disclosuresventure debt, debt financing, growth capital, business growth, financial support, investment capital, the bid, blackrock investment strategies, finance landscapeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Ben Beller, Partner at Sullivan & Cromwell LLP Ben Beller, Partner at Sullivan & Cromwell LLP, joins the podcast to walk through how companies can strategically navigate bankruptcy and restructuring during M&A. Drawing from experience on major cases like FTX and Silicon Valley Bank, Ben shares practical insights into Chapter 11 processes, planning strategies, liability management transactions, and how buyers can successfully acquire distressed assets. A must-listen for corporate development professionals, acquirers, and M&A legal teams looking to build competency around distressed transactions. Things you will learn: The differences between Chapter 7, 11, and 13 bankruptcies and when to use each How liability management transactions work and their growing role in restructuring What buyers need to know about acquiring businesses in bankruptcy _______________ What is the Buyer-Led M&A™ Virtual Summit This isn't just another webinar—it's an interactive experience designed to give you the tools and strategies to lead your M&A deals with confidence. This half-day event brings together corporate development leaders and M&A experts to explore Buyer-Led M&A™, showing how you can take control of every stage of the deal. Register Now ________ This episode is sponsored by FirmRoom. The World's Most Intuitive Virtual Data Room With AI Contract Analysis No Per-Page Fees. No B.S. Just Smarter, Faster Deals. Get started with your free trial today! ________ Episode Timestamps: [00:04:00] Ben Beller's background and major bankruptcy cases (FTX, SVB, Mallinckrodt) [00:07:30] Chapter 7 vs. Chapter 11 – key differences [00:11:30] Signs companies should begin planning for bankruptcy [00:14:00] Prepackaged vs. prearranged vs. freefall bankruptcies [00:17:30] Importance of lender relationships and communication [00:22:00] Role of private credit and debt trading in distressed situations [00:28:00] Liability management transactions explained: dropdowns, up tiers, and more [00:35:00] Trends in liability management and how they defer bankruptcy [00:41:00] M&A in bankruptcy: How buyers can seize opportunities [00:46:30] Understanding stalking horse bids and auction dynamics [00:54:30] Common mistakes in buying businesses out of bankruptcy [01:01:00] Bankruptcy reform trends and cost implications
Episode 374 of The VentureFizz Podcast features Dave Blundin, serial entrepreneur & investor. Dave's track record is legendary as one of the top entrepreneurs and investors in the Boston tech scene. He's co-founded 23 companies… and many have been incredibly successful: * DataSage - acquired by Vignette for over $1B in today's dollars * EverQuote - which went public * Vestmark - manages over $2 trillion in assets Companies like CourseAdvisor, Jobcase, Autotegrity, LeadKarma were all acquired. Plus he's invested in CarGurus, TripAdvisor… and he is the Founder & General Partner of Link Ventures and he's also the founder of the startup incubator, Cogo Labs. One might think that after all of this success, Dave would downshift and relax… but it is the exact opposite. He has been waiting for this moment since he was 14 years old and that is the current platform shift to AI. He studied AI at MIT back in 1984 and pioneered quantizing neural networks as early as 1992. Needless to say… his time is now and he believes that it has the potential to be the greatest thing that ever happened to humanity. He wants to savor the moment and work to train and build faster, better, & smarter AI. Chapters 00:00 Intro 02:43 Dave Blundin's Journey Begins 08:27 Founding DataSage and Early Innovations 15:55 Meeting Jeff Bezos & Building Personalization at Amazon 18:18 DataSage Acquisition by Vignette 20:59 Founding Story of Vestmark & Its Scale 27:39 Link Ventures & Cogo Labs - Building Consumer Companies at Scale 32:31 Story of EverQuote to IPO 35:04 The Best Friend Method for Investing 36:33 AI & The Importance of Chip Manufacturing 41:45 The AI Revolution & Opportunities 44:11 Liquid AI: General-Purpose AI Systems at Every Scale 47:45 Boston's Talent Density & MIT's Advantage 53:44 Personal Insights and Hobbies 57:40 Podcast & Book Recommendations Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
In President Donald Trump's recent joint address to Congress, he said, "To unshackle our economy, I have directed that for every one new regulation, ten old regulations must be eliminated." Elon Musk, whom Trump has assigned to execute this vision, has argued that it is time to get rid of all regulations, or as Musk said, “regulations, basically, should be default gone.”Joining Bethany and Luigi to discuss this intensified commitment to deregulation and laissez-faire capitalism is Sam Peltzman, perhaps the leading living expert on the economics of regulation. Peltzman is the Ralph and Dorothy Keller Distinguished Service Professor Emeritus of Economics at the University of Chicago's Booth School of Business and director emeritus of the Stigler Center, which sponsors this podcast and is named after his mentor, Nobel-Prize laureate George Stigler. Together, the three of them chart a historical perspective on regulation, from Stigler's ideas of regulatory capture to the unintended consequences of deregulatory efforts over time to today's “chainsaw” approach to gutting federal agencies. To understand the costs and benefits of regulation, they discuss how federal agencies have recently intervened in markets, if the private sector could not have accomplished these interventions more efficiently, and if these interventions did more harm than good. Their case studies include the funding, testing, and rollout of the COVID-19 vaccine, the regulation of cryptocurrencies, the management of the collapse of Silicon Valley Bank, and the role of the government in addressing climate change. In the process, they answer the trillion-dollar question: Are Trump's deregulation efforts actually efficient?Episode Notes:Revisit our recent episode with Federico Sturzenegger, the Argentinian Minister for State Transformation and DeregulationRead the op-ed Bethany mentions writing in the wake of the financial crisis: Who Wants a 30-Year Mortgage?At the end of the conversation with Peltzman, Luigi asks him about his recent academic papers tracing marriage and happiness. Read these papers on the Stigler Center's Working Paper archives: The Socio-Political Demography of Happiness (2023) and The Anatomy of Marital Happiness (2025)
SaaStr 795: The AI Impact on Banking and Finance with CEO and Co-founder at Treasury Prime, Chris Dean Join SaaStr CEO and Founder Jason Lemkin and Chris Dean from Treasury Prime as they delve into the intricate world of Banking as a Service (BaaS) and FinTech. The discussion spans a host of critical topics, including the fallout from Silicon Valley Bank, the complexities of reconciliation, Synapse and Evolve's banking controversy, and the evolving financial landscape. They also explore the resurgence of FinTech, the impact of AI on banking operations, and Treasury Prime's upcoming AI-powered operational tools. A must-watch for anyone interested in the future of banking and financial technology. ---------------------- Alright everybody in SaaS, this is it. The biggest, best, most action-packed SaaS + AI event of the year—SaaStr Annual 2025—is coming this May. Three full days. 10,000+ SaaS and AI leaders and more tactical, no-fluff content than you'll find anywhere else. If you want to scale faster—$10M, $50M, $100M ARR and beyond—you need the right playbooks, the right connections and the right people in your corner. And SaaStr Annual is where it all happens. We'll have 100's of Legendary speakers from companies like Snowflake, HubSpot, OpenAI, Canva, and more. More networking than you can handle—meet your next investor, co-founder, or biggest deal. A New AI Demo & Pitch Stage— with your chance to win up to $5M in funding! So don't wait—grab your tickets now at SaaStrAnnual.com with my code jason100 to save $100 on tickets before prices go up. That's jason 100 at saastrannual.com See you in May! -------------------------------------------------------------------------------------------- Do you know what would make your customer service helpdesk dramatically better? Dumping it and switching to Intercom. But, youʼre not quite ready to make that change. We get it! Thatʼs why Fin, the worldʼs leading AI customer service agent, is now available on every helpdesk. Fin can instantly resolve up to 80% of your tickets, Which makes your customers happier. And you can get off the customer service rep hiring treadmill. Fin by Intercom. Named the #1 AI Agent in G2ʼs Winter Report. Learn more at : inter.com/saastr ------------------------------------
Part 2 of 2: Provocative China Podcast presents a conversation with Ken Wilcox, former CEO of Silicon Valley Bank and the author of The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice. Listen to Ken's firsthand trials and tribulations trying to set up a joint venture in China between SVB and the CCP. His experience is fascinating—and sometimes maddening—filled with unexpected assertions from Chinese counterparts right out of the Art of War playbook, highlighting key cultural differences and, as Ken puts it, deeply convoluted negotiations that expose our Western naivety regarding doing business in China. No one in China has read the book "Getting To Yes," so if you are armed with these tactics and strategies, YOU WILL FAIL IN CHINA!In our conversation, Ken dives into the struggles Western businesses face in China, from the risks of technology transfer to navigating the morality and ethics of Chinese business negotiations. He also shares some lessons he learned from his missteps along the way. Whether you're in business or just curious about U.S.-China relations, this episode is packed with honest, down-to-earth advice from someone who's been through it all.00:00:08 Western Companies Losing Twice in China 00:02:59 Negotiation Styles Between Western and Chinese Companies 00:06:11 Cultural Differences in Business Ethics 00:07:08 Honeymoon Period in Business Relationships 00:08:41 Negotiating with Chinese Partners 00:11:27 Recommended Books to Prepare for China 00:17:47 Future Economic Relations Between the U.S. and China 00:24:21 Advantages of China in Global Competition 00:25:02 Advantages of the U.S. in Global CompetitionConnect with Kenhttps://www.linkedin.com/in/kenwilcoxsvb/Buy Ken's book:https://www.amazon.com/China-Business-Conundrum-Win-Win-Companies/dp/1394294166 Visit Gene's author website:https://www.provocativechina.com/Buy Gene's books:https://www.amazon.com/Gene-J.-Hsu/e/B092FYDCN7
How can LLM be used to analyze climate impact and build competitive advantage? The scale and urgency of the transformation required to fight climate change has never been more clear. Building hardware and software products, acquiring the funding and creating a diverse community to enhance talent capacity and to drive innovation, is essential to tackling this global environmental crisis. In this podcast, Silicon Valley Bank (a division of First Citizens Bank) Climate Tech & Sustainability SVP Maggie Wong will be interviewing Upright Founder & CEO Annu Nieminen to discuss utilizing LLM to analyze the climate impact and cost of global products and services and to build competitive advantage, as well as importance of "product first" approach and staying focused on the product vision.
Episode 373 of The VentureFizz Podcast features Jeff Bussgang, General Partner at Flybridge. Jeff has accomplished so much throughout his career. I'm sure lots of people probably know him best as a Venture Capitalist and Professor at Harvard Business School. But... you might not know the details about his startup career prior to Flybridge which I was really excited to dig into because he played a key role at two incredibly successful companies in the Boston tech scene. The first being OpenMarket, which pretty much invented eCommerce with its shopping cart technology that was licensed by companies like Amazon when they were just getting started. The company went public at a billion dollar valuation back in 1996 which was a very big deal. The second company is Upromise, where he was a Co-Founder along with Michael Bronner, who was also the Founder of Digitas and really helped establish the world of direct & loyalty marketing and David Fialkow, who you might also recognize as one of the founders of General Catalyst. Upromise allowed consumers, including myself, to save for their kids' college education through a loyalty rewards program. The company was very successful and it was later acquired by Sallie Mae. In addition to being an entrepreneur, investor, and professor, Jeff is also an author of three books and his latest book is called The Experimentation Machine - Finding Product-Market Fit in the Age of AI. Plus we talk about his Dad (Julian Bussgang), a scientist and entrepreneur who developed the Bussgang Theorem, Jeff educational background in AI, Flybridge's history of investments in AI, Hack.Diversity and so much more! Chapters: 00:00 Intro 00:05 Jeff's New Book - The Experimentation Engine 04:47 Jeff's Background and Early Influences 08:47 The Story of OpenMarket & Shopping Cart Tech 17:21 The Creation of Upromise 25:06 Transition to Venture Capital & Flybridge 26:37 Flybridge's History & Focus on AI 32:50 Flybridge's Investment Process 34:13 Advice on Go-to-Market Strategy 35:36 Getting Pitched by Curt Schilling 38:03 Teaching at Harvard Business School 39:48 Career Advice for Aspiring Entrepreneurs 42:22 Must-Have Versus Nice-to-Have Products 44:00 Hack.Diversity 46:46 The Boston Tech Ecosystem & AI 52:55 Recommendations - Apps & Podcasts Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
This is a replay of our podcast in 2023. This week we have Jeremy Rapper as a returning guest. We had a very interesting discussion on what I call Social Activism. He discusses lessons on shorting, including the Silicon Valley Bank case. The conversation then shifts to event-driven investing with the Hunter Douglass Saga as an example of Social Activism.Jeremy also provides insights on Japanese capitalism and the importance of idea generation through pattern recognition. He mentions FAR Limited ($FAR.ASX) as another example of Social Activism and touches on commodity investing.[0:00] Catch Up since Last Podcast[4:00] Lessons on Shorting: Silicon Valley Bank[19:00] Event Driven Inverting: The Hunter Douglass Saga[38:00] Japanese Capitalism[58:00] Idea Generation < Pattern Recognition[1:02:00] FAR Limited ($FAR.ASX)[1:08:00] Commodity Investing[1:35:00] More from Jeremy and Closing Questions
BUY GOLD HERE: https://firstnationalbullion.com/schedule-consult/ Avoid CBDCs and work with Mark Gonzales! HELP WAM! OUR MARCH 2025 FUNDRAISER: https://gogetfunding.com/?p=9091885 GET NON-MRNA FREEZE DRIED MEAT HERE: https://wambeef.com/ Use code WAMBEEF to save 20%! GET HEIRLOOM SEEDS & NON GMO SURVIVAL FOOD HERE: https://heavensharvest.com/ USE Code WAM to save 5% plus free shipping! Josh Sigurdson talks with Mark Gonzales about the historic collapse of the banking system as the FDIC issues a warning about 66 major banks on their "problem" list as unrealized losses explode 118.4 billion dollars in just 3 weeks! These latest unrealized losses brings the total to $482.4 billion. All the while, the FDIC (Federal Deposit Insurance Corporation) which is supposed to insure your money in the bank is bankrupt itself and incapable of covering more than 1% of losses meaning, your money is not only unsafe in the bank. It's in imminent danger. Silicon Valley Bank's collapse was nothing. We are witnessing a massive shift take place right as they bring in CBDCs and Digital IDs across the board. This is obviously not a coincidence. Prepare yourselves now. Stay tuned for more from WAM! Get local, healthy, pasture raised meat delivered to your door here: https://wildpastures.com/promos/save-20-for-life/bonus15?oid=6&affid=321 USE THE LINK & get 20% off for life and $15 off your first box! GET YOUR APRICOT SEEDS at the life-saving Richardson Nutritional Center HERE: https://rncstore.com/r?id=bg8qc1 SIGN UP FOR HOMESTEADING COURSES NOW: https://freedomfarmers.com/link/17150/ Get Prepared & Start The Move Towards Real Independence With Curtis Stone's Courses! GET YOUR WAV WATCH HERE: https://buy.wavwatch.com/WAM Use Code WAM to save $100 and purchase amazing healing frequency technology! GET ORGANIC CHAGA MUSHROOMS HERE: https://alaskachaga.com/wam Use code WAM to save money! See shop for a wide range of products! GET AMAZING MEAT STICKS HERE: https://4db671-1e.myshopify.com/discount/WAM?rfsn=8425577.918561&utm_source=refersion&utm_medium=affiliate&utm_campaign=8425577.918561 USE CODE WAM TO SAVE MONEY! GET YOUR FREEDOM KELLY KETTLE KIT HERE: https://patriotprepared.com/shop/freedom-kettle/ Use Code WAM and enjoy many solutions for the outdoors in the face of the impending reset! HELP SUPPORT US AS WE DOCUMENT HISTORY HERE: https://gogetfunding.com/help-wam-cover-history/ PayPal: ancientwonderstelevision@gmail.com FIND OUR CoinTree page here: https://cointr.ee/joshsigurdson JOIN US on SubscribeStar here: https://www.subscribestar.com/world-alternative-media For subscriber only content! Pledge here! Just a dollar a month can help us alive! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU World Alternative Media 2025
Part 1 of 2: Provocative China Podcast presents a conversation with Ken Wilcox, former CEO of Silicon Valley Bank and the author of The China Business Conundrum: Ensure That "Win-Win" Doesn't Mean Western Companies Lose Twice. Listen to Ken's firsthand trials and tribulations trying to set up a joint venture in China between SVB and the CCP. His experience is fascinating—and sometimes maddening—filled with unexpected assertions from Chinese counterparts right out of the Art of War playbook, highlighting key cultural differences and, as Ken puts it, deeply convoluted negotiations that expose our Western naivety regarding doing business in China. No one in China has read the book "Getting To Yes," so if you are armed with these tactics and strategies, YOU WILL FAIL IN CHINA!In our conversation, Ken dives into the struggles Western businesses face in China, from the risks of technology transfer to navigating the morality and ethics of Chinese business negotiations. He also shares some lessons he learned from his missteps along the way. Whether you're in business or just curious about U.S.-China relations, this episode is packed with honest, down-to-earth advice from someone who's been through it all.Part 100:00:08 Introduction 00:01:19 Perceptions of China in 2008 vs. Today 00:03:08 Lectures from Chinese Counterparts 00:10:24 Learning Chinese Language and Culture 00:23:16 Inadvertent Technology TransferConnect with Kenhttps://www.linkedin.com/in/kenwilcoxsvb/Buy Ken's book:https://www.amazon.com/China-Business-Conundrum-Win-Win-Companies/dp/1394294166 Visit Gene's author website:https://www.provocativechina.com/Buy Gene's books:https://www.amazon.com/Gene-J.-Hsu/e/B092FYDCN7
Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to The Julia La Roche Show for episode 240 to discuss markets and the state of the economy. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia Whalen explains why market euphoria has faded under Trump's "shock and awe" strategy. Banks face a $3 trillion mortgage securities problem yielding under 3% against 3% funding costs. He notes the FDIC has stopped reporting troubled bank asset totals after 35 years, suggesting numerous insolvent institutions need resolution. Despite these issues, Whalen doesn't forecast a recession, seeing continued growth with isolated credit problems. In commercial real estate, he describes a "silent recession" where banks avoid taking properties, while for residential real estate he predicts price softening, then a rate-cut mini-boom before a major 2028 correction. Whalen also calls Fannie & Freddie stocks a "pump and dump" trade, states gold is "the only form of money that's not debt," and dismisses crypto as "nothing."Links: Twitter/X: https://twitter.com/rcwhalen Website: https://www.rcwhalen.com/ The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/ Inflated book (2nd edition): https://www.amazon.com/Inflated-Money-Debt-American-Dream/dp/139428571XStanley Middleman book: https://www.amazon.com/Seeing-Around-Corners-Achieving-Business/dp/B0D5PTSJVC/ 0:00 Intro and welcome back Chris Whalen 1:06 Big picture market overview and Trump policy impact 2:49 Stock market as political proxy and market conditions 4:46 Fed policy outlook and potential rate cuts 6:09 Banking sector challenges and mark-to-market issues 8:07 Silicon Valley Bank anniversary and bank issues 11:10 Economic assessment and credit conditions 13:52 Commercial real estate challenges 16:11 Discussion of tariffs and Trump's structural changes 20:13 Debt, government spending, and economic growth 22:18 Investment approach and AI skepticism 24:36 Gold vs cryptocurrency perspective 25:58 Fannie Mae and Freddie Mac 27:29 Housing market conditions and affordability 29:50 Closing thoughts and where to find his work
Marpipe founder and CEO Dan Pantelo joins Eric Franchi and Joe Zappa on the pod to talk about bringing his company back from a near-collapse during the Silicon Valley Bank crash, rejecting an acquisition offer, discovering product-market fit, and dynamic product ads' contribution to the future of performance advertising.
Mimi Wu, Partner at Sullivan & Cromwell When a company is struggling financially, M&A can be a lifeline—but navigating distressed deals is a whole different game. In this episode of the M&A Science Podcast, Mimi Wu, Partner at Sullivan & Cromwell, breaks down how Chapter 11 bankruptcy, 363 sales, and creditor negotiations come into play when businesses are in distress. Mimi has worked on some of the biggest restructuring cases, including FTX and Silicon Valley Bank, and she's here to explain how distressed M&A really works—without the legal jargon. Whether you're an investor, a corporate executive, or just curious about how companies handle financial trouble, this episode is packed with insights. Things you will learn: What is Chapter 11? – How bankruptcy protects businesses and gives them time to reorganize The Power of a 363 Sale – Why buyers love these deals and how they can acquire assets “free and clear” Negotiating with Creditors – What happens when companies can't pay their debts, and the options they have Finding Deals in Bankruptcy – How investors and buyers can identify distressed M&A opportunities before they hit the auction stage ______________ This episode is sponsored by DealRoom AI. Forget spending hours reviewing diligence contracts. Automate the extraction and analysis of key information and create quick summary reports. Harness the power of Buyer-Led M&A with DealRooms proven framework. Visit DealRoom.net to learn more. Trailer Timestamps: [00:03:01] – What is Distressed M&A? Key Differences from Traditional M&A [00:05:32] – Chapter 11 Bankruptcy: How It Works and When to Use It [00:06:30] – 363 Asset Sales: Selling a Business in Bankruptcy [00:09:11] – Why Companies File for Bankruptcy: Common Triggers [00:10:36] – The Automatic Stay: Protecting Companies During Bankruptcy [00:14:00] – Alternatives to Bankruptcy: Negotiating with Creditors & Raising Capital [00:18:30] – How the Bankruptcy Sale Process Works: Auctions & Market Checks [00:20:41] – Credit Bidding & How Creditors Influence the Sale [00:24:02] – The 363 Auction Process: How Bidding Works [00:26:39] – Stalking Horse Bids: What They Are & How They Work [00:29:30] – How Sale Proceeds Are Distributed Among Creditors [00:33:00] – Case Study: Carrier & Ketafenol Bankruptcy Sale [00:39:35] – Finding Distressed M&A Opportunities: Buyer Strategies [00:42:00] – The Craziest Thing Mimi in Distressed M&A
How a does a go-to-market strategy drive product roadmaps and achieve scalability? The scale and urgency of the transformation required to fight climate change has never been more clear. Building hardware and software products, acquiring the funding and creating a diverse community to enhance talent capacity and to drive innovation, is essential to tackling this global environmental crisis. In this podcast, host and Silicon Valley Bank (a division of First Citizens Bank) Climate Tech & Sustainability SVP Maggie Wong will be interviewing Aircapture COO Michael Vyvoda to discuss how a go-to-market strategy shapes the product roadmap to achieve scalability, the importance of curating a diverse workplace environment, a great product manager being a "unicorn".
Episode 370 of The VentureFizz Podcast features Toshit Panigrahi, Co-Founder & CEO and Olivia Joslin, Co-Founder & COO of TollBit. There are going to be so many amazing benefits and advancements that are a result of the platform shift to AI. However, in this new world, many industries will need to go through radical transformation and the publishing industry is right in that mix. We even see some of these issues with VentureFizz, of course at a much smaller scale as compared to major publishers. For example, if you are searching for information about some startups in Boston, it's possible that the results will include content from VentureFizz in the results from Google Gemini. While in one regard, it is great that Google views us as an authority on the topic, it does however eliminate the need for the consumer to come to our site because they likely have their question answered. It's really not a major problem for us because of our business model, but it is certainly a major problem for publishers who count on pageviews for ad revenue. Enter TollBit, a two-sided marketplace for AI companies and publishers started by two alumni of Toast. The platform seeks to address the new economics of content creation in the AI era by reducing the legal uncertainties of scraping and protecting the health of the entire content ecosystem. The company recently announced a $24M Series A round of funding in October of last year which comes shortly after raising a $7M seed round in March of last year, as well. In this episode of our podcast, we cover lots of great topics: Chapters: 00:00 Intro 00:10 AI & the Media Industry 03:51 Olivia's & Toshit's Background & Professional Journey 12:48 Starting TollBit 17:46 The Details of TollBit's Platform 25:07 TollBit's Funding & Pitch Advice 31:06 TollBit's Business Model 37:27 The Importance of Advisors for Your Startup 39:12 Lessons Learned While Building TollBit 42:18 Hiring 44:11 App & Podcast Recommendations Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
CEOWorld Magazine, Medium André Stewart is nominee for Los Angeles Times CFO & CEO Leadership Award in 2021.His latest Book: Epitome of the Mind: Unlock Your Full Potential for Better Health, Prosperity and Happiness, April 15.2023André Stewart is the founder and CEO of InvestFar Capital, Residual Roads Business Institute, and InvestFar, the first mobile app that lets you purchase, renovate, sell, or manage an investment property remotely globally. Have you ever felt overwhelmed or depressed? Been homeless, unemployed, or on government assistance? That was André's life path before entering the world of finance.Previously a commercial banker at Wells Fargo, Silicon Valley Bank and a private bank named OneWest Bank as an advisor to CEOs of startups, major tech companies, and high net worth individuals, everything changed when at the age of thirty-three, his doctor ordered him to quit. The stress was literally killing him, leaving André on the brink of cardiac arrest. André then discovered the knowledge of real estate investing and was able to achieve financial independence in less than seven months in that industry. Residing in Los Angeles, California, André is now on a mission to help others from all walks of life discover mental awareness and financial independence.His book, The Real Estate Investing Diet: Harnessing Health Strategies to Build Wealth in Ninety Days(August 2, 2022; Amplify Publishing) André shares practical tools and techniques for gaining financial independence and generating long-term wealth through real estate investing―without using your own personal credit or up front capital.Whether you have a bank account in the negative or a million dollars to invest, this book will not be like any other real estate guide you've read before. André not only gives you every single tool to make money in any real estate economic climate, but he also does so while navigating an unprecedented modern economy. If you want to be financially free in an unparalleled time in the history of any country, this is the book for you.© 2025 All Rights Reserved© 2025 BuildingAbundantSuccess!!Join Me on ~ iHeart Media @ https://tinyurl.com/iHeartBASSpot Me on Spotify: https://tinyurl.com/yxuy23baAmazon Music ~ https://tinyurl.com/AmzBASAudacy: https://tinyurl.com/BASAud
Listen on: Apple Podcasts | Spotify Do you enjoy the podcast? Please leave a review! Get 20% off courses and workshops at UX Content Collective. Just use the code PODCAST20 at checkout. From layoff to leadership: How Cara Lam rebuilt her career Getting laid off is tough—but for content designers on work visas, it can feel like everything is on the line. When Cara Lam lost her job at Instagram during the wave of tech layoffs, she had just 60 days to figure out her next move or leave the country. What followed was a relentless job search, rejections, and a journey of self-discovery. In this episode, Cara shares how she bounced back, the lessons she learned from her time at Meta, Venmo, NBC Universal, and Silicon Valley Bank, and why content designers need to embrace strategy, research, and resilience to stand out in today's job market. If you've ever struggled with layoffs, job hunting, or making your content career more sustainable, this conversation is packed with real talk, tactical advice, and industry insights you won't want to miss. What we talked about: ✅ How Cara moved across Australia, Japan, Hong Kong, and the US—and stumbled into content design ✅ What it's really like working at Instagram/Meta as a content designer ✅ The hackathon project that could have changed Instagram Stories forever ✅ How financial UX writing is different from other industries—and why it matters ✅ What it feels like to get laid off at a big tech company ✅ Job hunting after a layoff—how to survive endless rejections ✅ The power of referrals, LinkedIn outreach, and strategic networking ✅ How contract work helped Cara get back into the industry ✅ Interviewing like a pro—portfolio tips that helped her land a job ✅ Why every content designer should think like a business strategist Notable quotes:
Episode 368 of The VentureFizz Podcast features Matthias Hofmann, Co-Founder & CEO of Eyebot. I met Matthias and Jack, Eyebot's Co-Founder & CTO at a pre-party for TechCrunch's Early Stage event in Boston a couple of years ago. It was one of those meetings that when someone describes their product - an AI powered kiosk that could conduct vision tests in 90 seconds… it sounded like something out of science fiction… but it made you pause and think… what if they actually build this… the market opportunity is massive - like TAM - everyone in the world massive. On top of that, here are some crazy stats of the void in the market that needs to be addressed with a solution: 40,000 unfilled eye doctor positions in the U.S. - more doctors retiring than graduating from school) 25% of U.S. counties don't have a practicing eye care provider 63% of Americans don't have vision insurance Well, this product and solution became a reality when Eyebot announced its partnership with Zenni Optical by deploying their kiosks in various locations and as you'll hear from Matthias… the pipeline of demand for their kiosks is incredibly strong. Another crazy stat that he shared with me is that the team is only 14 people. It's another perfect example of the level of innovation in the Boston tech scene with several next generation hardware & robotics companies that are emerging like 10 Beauty, Ozlo Sleepbuds, Pickle Robot, and many more. Eyebot raised a $6M seed round of funding last year led by AlleyCorp and Ubiquity Ventures with participation from other top investors. In this podcast, we cover: * Eyebot's first appearance at CES this year and advice on how to create a buzz. * Matthias' background story and how positions at EyeNetra & Formlabs helped shape his career. * The full story of Eyebot and the challenges in the market that they are addressing. * How their technology works, plus their go-to-market strategy, and details on funding. * Advice for founders on building hardware and raising capital. * And so much more. Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
Highlights from this week's conversation include:Samir's Background and Journey (0:31)Founding Allocate (1:09)Emerging Managers Focus (4:26)Market Cycles and Investment Strategies (8:11)Current Market Trends (12:22)Illiquidity in Venture Capital (14:04)Misconceptions About Venture Capital (16:05)Direct Investments vs. Fund of Funds (19:51)Operational Needs of Wealth Advisors (22:13)Building Infrastructure for Investment (24:16)Insider Segment: Nico Toro of Silicon Valley Bank (27:00)Customization in Different Markets (28:55)Understanding Local Ecosystems (30:07)Opportunities in Fintech (32:26)Consolidation in Private Equity (36:49)Investment Strategies for Family Offices (40:43)Responsible Participation in Venture Capital (44:50)Ideal Investor Profile (47:05)Market Growth and Challenges (50:04)Current Investment Climate (52:00)Connecting with Samir and Final Thoughts (53:12)Allocate is a platform designed to modernize and democratize private market investing by providing accredited investors with curated access to top-tier private capital funds and direct investment opportunities. Allocate's mission is to empower a broader audience of investors to participate in private markets while emphasizing transparency, efficiency, and inclusivity. https://www.allocate.coSilicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world's most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB's parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.
About Julie Ebert:Julie Betts Ebert is Managing Director of Silicon Valley Bank's National Life Science & Healthcare team, supporting life science companies in the Mid-Atlantic and Southeast with banking services, debt financing, and strategic growth advice. Previously, she led SVB's Strategic Advisory effort, managing client engagements and advisory projects. Julie's prior experience includes 10 years at Greenhill & Co., advising on M&A and restructuring, and roles at Prudential Securities and J.P. Morgan. She holds an M.B.A. from Columbia Business School and a B.S. in finance from the University of Virginia.Things You'll Learn:There's been an increase in the number of deals being made in the health tech space, signaling a positive shift in the market despite funding not growing as drastically as there's a slight uptick.A significant portion of health tech companies, roughly a third that have raised money, are integrating AI into their products or services, demonstrating the growing importance of AI in healthcare innovation. Silicon Valley Bank's reports aim to create transparency in the market. They give companies access to critical information about venture capital trends and investment patterns, helping to level the playing field for these companies.The 2024 Future of Healthtech report also shows that investors are becoming more pragmatic about valuations, with fewer up rounds and an increase in flat or down rounds or deals where the terms are not disclosed at all. By offering its insights, being creative in its financing, and supporting companies with the knowledge to help move their businesses forward, Silicon Valley Bank shows that it is a bold leader who is playing a crucial role in transforming the healthcare industry and fostering innovation.Resources:Connect with and follow Julie Ebert on LinkedIn.Follow Silicon Valley Bank on LinkedIn and visit their website.Read this year's SVB's Future of Healthtech report here.
Adam, Joanna, and Zach respond to the most recent Silicon Valley Bank report and Adam's recent presentation at the Unified Wine & Grape Symposium, where they specifically look for the silver linings and potentially successful strategies that wineries and operators can embrace, if they just admit that wine has a problem. Please remember to subscribe to, rate, and review VinePair on Apple Podcasts, Spotify, or wherever you get your episodes, and send any questions, comments, critiques, or suggestions to podcast@vinepair.com. Thanks for listening, and be well.Adam is drinking: 1970 Louis M. Martini Cabernet SauvignonJoanna is drinking: Espresso and Tonic from CoqodaqZach is drinking: Papalin Jamaican High Ester RumInstagram: @adamteeter, @jcsciarrino, @zgeballe, @vinepair Hosted on Acast. See acast.com/privacy for more information.
Silicon Valley Bank's failure in March 2023 kicked off a chain of events that has cascaded across money, banks, and the real economy. The world economy didn't forget how to grow, the banking crisis of early '23 proved to be the final inflection point. Central banks may have won the battle over banks, then lost the war where it truly mattered. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU
Episode 367 of The VentureFizz Podcast features Vivjan Myrto, Founder & Managing Partner at Hyperplane. Why Boston Be The Star of the AI Revolution - this is the title of an article that Zach Winn wrote for VentureFizz seven years ago. It talks about the history of AI in the Boston area including Marvin Minksy's first neural net machine back in 1951, the amazing academic institutions, plus the state of the tech ecosystem in this industry back then. Vivjan was featured in this article along with this quote: “I think machine intelligence represents a once in a lifetime opportunity for entrepreneurs...” It's impressive to see how Vivjan and his partners were well ahead of the AI hype machine, as they built Hyperplane's focus around backing the best founding teams working in this sector along with other innovations in hardtech like robotics, sensors and more. The firm's name is even based on a term in machine learning applications, a higher-dimensional plane used to help categorize data based on its underlying structure from images to real-world events. In this podcast, we cover: * Vivjan's inspirational background story from growing up in Albania to fighting cancer and moving to the United States for treatment and learning how to speak English while he was in the hospital. * Going on to build a healthcare startup that was acquired. * How Hyperplane came to fruition and how they raised their first fund. * All the details about Hyperplane and the firm's area of focus for investments. * A deep dive into Modulate, one of their portfolio companies. * Advice on taking the entrepreneurial leap * A discussion around the Boston tech scene and areas for improvement. * His passion for wind sports and photography. * And so much more. Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
What can we say for sure about China? Many of us can rattle off some incredible statistics. It is a manufacturing and technology powerhouse. China ran up an astonishing $1 trillion dollar surplus in 2024. China builds more EVs than all other countries combined. And China has enough capacity to supply total global demand for batteries. We know these facts. But what we know much less well is how to engage with Chinese business people in a productive way that leads to successful outcomes. That's been a giant black hole for many Western business people. Fortunately, a giant dose of help is on the way in the form of a tremendous new book by Ken Wilcox called The Chinese Business Conundrum: Ensuring Win-Win Doesn't Mean Western Companies Twice. Mr Wilcox, the former CEO of Silicon Valley Bank, also ran SVB's joint venture bank in China. He shares extremely valuable inside views of realities on the ground.
Guest: Rick Smith, CEO & Founder of Axon (formerly TASER)Being a founder-CEO is a “unique superpower,” says Axon's Rick Smith: People like him get a longer leash from the board to try things that outside CEOs might not.“My job is to push risk into the organization,” Rick says. “If there's a project with a 50 percent chance of success, a 50 percent chance of failure, but it's going to pay 100 to 1, any finance person will tell you, you should take that bet all day long.”One of those bets was the transition from running a weapons company called TASER into a broader public safety firm called Axon, which makes cloud-supported body cameras fro police, tactical drones, AI records management software and more. “If we never have a product failure, then we're not taking risks anymore and we're going to end up getting disrupted,” Rick says.Chapters:(01:09) - Tasers vs. guns (03:35) - Axon's growth (07:09) - Biggest surprises (09:33) - How TASER got started (13:11) - Reinventing the taser (17:24) - A humiliating launch (23:33) - Rick's family (26:14) - The Auto Taser failure (30:21) - The darkest days (34:26) - Hans Marrero (37:25) - Family and burnout (42:49) - Rick's family (45:49) - Pivoting the business (51:37) - Axon body cameras (53:46) - Axon's current products (58:08) - Re-educating the cops (01:02:09) - Pushing risk (01:05:44) - Competing with the gun (01:10:16) - Exponential stock plans (01:14:17) - Who Axon is hiring (01:14:46) - What “grit” means to Rick Mentioned in this episode: UnitedHealthcare and Brian Thompson, Harvard University, human-machine interfaces, Star Wars, Timecop, Star Trek, Jack Cover, Project Apollo, Ed Owen; the Bureau of Alcohol, Tobacco, and Firearms; Tom Smith, Rodney King, the Sharper Image, Steve Filmer, Phil Smith, Silicon Valley Bank, Emil Michael, Bob Kagle, Benchmark, Norwest Ventures, Molly Wuthrich, Josh Isner, The Terminator, Ferrari, Richard Branson, Burning Man, Steve Jobs, Brenda Smith, Hadi Partovi, Amazon AWS, Microsoft, DraftOne, Ambience Health, OpenAI, Mark Zuckerberg, Michael Brown, Computer Aided Dispatch, Elon Musk and SpaceX, and Luke Larson.Links:Connect with RickTwitterLinkedInConnect with JoubinTwitterLinkedInEmail: grit@kleinerperkins.com Learn more about Kleiner PerkinsThis episode was edited by Eric Johnson from LightningPod.fm
Blake and David jump into the latest news, including the launch of Trump's own cryptocurrency and KPMG's expansion into legal services in Arizona, taking advantage of new rules allowing non-lawyers to own law firms. They also examine the Treasury Department's Chinese hack attack, South Carolina's $1.8 billion accounting error resolution, and Trump's proposed External Revenue Service.SponsorsRelay - http://accountingpodcast.promo/relayKeeper - http://accountingpodcast.promo/keeperTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(00:48) - Trump's TikTok Saga (03:35) - Live Stream and CPE Credits (04:48) - Trump's Cryptocurrency Launch (06:54) - Sage AI Data Leak Incident (12:27) - Relay Sponsorship and Banking Solutions (14:13) - Trump's Cryptocurrency Impact (28:06) - Direct File and IRS Developments (32:45) - KPMG Enters Legal Services (38:51) - Tax Bandits: Streamlining Your Tax Season (39:50) - Legal Document Automation with AI (41:04) - South Carolina's $1.8 Billion Accounting Error (45:56) - Trump's External Revenue Service Proposal (49:54) - Chinese Hackers Breach U.S. Treasury (56:51) - FDIC Sues Silicon Valley Bank Executives (01:04:39) - American Express Settles for $230 Million Over Bad Tax Advice (01:08:28) - Testing Google's Gemini Advanced for Tax Research (01:12:17) - Earn Free CPE Credits with Earmark (01:14:22) - Conclusion and Live Stream Announcement Show NotesTikTok restores US service after Trump says “we have to save it”https://www.reuters.com/technology/tiktok-goes-dark-us-users-trump-says-save-tiktok-2025-01-19/ Donald and Melania Trump debuted meme coins, $Trump and $Melania. Here's what to know.https://www.cbsnews.com/news/donald-trump-melania-meme-coin-cryptocurrency-what-to-know/ KPMG's Bold Move: How Arizona's ABS Rules Are Reshaping the U.S. Legal Landscapehttps://lawleaders.com/kpmgs-bold-move-how-arizonas-abs-rules-are-reshaping-the-u-s-legal-landscape/ IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing seasonhttps://www.irs.gov/newsroom/irs-direct-file-set-to-expand-availability-in-a-dozen-new-states-and-cover-wider-range-of-tax-situations-for-the-2025-tax-filing-season Sage Copilot grounded briefly to fix AI misbehaviorhttps://www.theregister.com/2025/01/20/sage_copilot_data_issue/ FDIC sues 17 former Silicon Valley Bank executives over collapesehttps://www.cnn.com/2025/01/16/business/fdic-sues-svb-executives-directors-intl-hnk/index.htmlFDIC sues former SVB execs over bank closurehttps://bankingjournal.aba.com/2025/01/fdic-sues-former-svb-execs-over-bank-closure/ SoftBank-Backed Fish Firm Allegedly Faked Most of Its Saleshttps://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html American Express to pay $230 million to settle US charges over deceptive sales practiceshttps://www.reuters.com/business/finance/american-express-pay-1087-mln-settle-deceptive-marketing-allegations-justice-2025-01-16/ U.S. Sanctions Chinese Cybersecurity Firm Over Treasury Hack Tied to Salt Typhoonhttps://thehackernews.com/2025/01/us-sanctions-chinese-cybersecurity-firm.html SC auditor resigns after outside audit found $1.8 billion ‘surplus' was actually an accounting errorhttps://www.wistv.com/2025/01/23/sc-auditor-resigns-after-outside-audit-found-18-billion-surplus-was-actually-an-accounting-error/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacc...
Episode #366 of The VentureFizz Podcast features Graham Brooks, Partner at .406 Ventures. “Data is the new oil” - it's a slogan that you hear everywhere these days… it's on TV commercials, print ads, LinkedIn posts… but this is not a new trend or revelation for Graham. His interest in data goes back to his first job out of college and his passion for data has followed him throughout his career, including in his current role as the leader of .406 Ventures' Data + AI strategy. .406 Ventures is a Boston-based venture capital firm with over $1.4B under management and nearly two decades of experience leading or co-leading early-stage investments in pioneering healthcare, data + AI, and cybersecurity companies founded by visionary entrepreneurs. Oh… and here's a fun fact about Graham… his sport of choice while growing up was fencing. He competed all over the world and was a two-time All American at Princeton. So cool. In this podcast, we cover: * Graham's thoughts on AI and the investment outlook for 2025. * His background story including how he got into fencing. * Joining a Princeton startup called ALK Associates which was early AI for data cleansing that was acquired by Trimble. * Learning sales and fundraising as part of the founding team at Accentus after he received his MBA at Dartmouth. * Graham's journey to landing a job in venture capital which was intentional, plus he shares some great advice for others who are interested in this career path. * The details about .406 Ventures and its thesis driven approach, plus portfolio company examples and their investment process. * His passion for extreme sports * And so much more. Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
Zac Townsend is the co-founder and CEO of Meanwhile, the world's first Bitcoin life insurance company. Meanwhile's mission is to democratize access to financial protection and security. Formerly, Townsend was a leader in the financial services practice of McKinsey & Company and served as the inaugural Chief Data Officer of California. Townsend was also the founder of a banking API business called Standard Treasury which was sold to Silicon Valley Bank.
Episode 365 of The VentureFizz Podcast features John Harthorne, Founder & Managing Director of Two Lanterns Venture Capital and Founder and decade-long CEO of MassChallenge. A career is a body of work. It doesn't have to be a straight line… it can take twists and turns… yon can switch industries… you can reinvent yourself… and it should be fulfilling. As you'll learn from John's background, he had lots of twists and turns but ultimately, he decided there must be more to his career. One where he can make a massive impact, but he obviously had to weigh the risks of the unknown during one of the worst economic conditions back in 2009. That unknown became one of the largest accelerators in the world with over 4,000 alumni and over $13B raised with a 65% survival rate which includes companies like Flywire, Ginger, Bitso and many, many more. It's proof that you can think and dream big! Today at Two Lanterns Venture Capital, John is focused on making pre-seed and seed investments in software startups in the U.S. and Israel. In this podcast, we cover: * John's outlook for 2025 as an investor. * His background with lots of twists and turns, including how he landed in the tech industry at a cybersecurity company called @stake. * The decision to go back to business school at MIT Sloan and how his passion for entrepreneurship developed. * The full lifecycle story of MassChallenge. All the stories from leaving Bain as a consultant along with Akhil Nigam to start the accelerator, all the obstacles they overcome, and then scaling the organization. * What led him down the path of starting Two Lanterns Venture Capital, plus all the details on the firm and what they are targeting for investments. * Common entrepreneurial mistakes. * And so much more. Episode Sponsor: As a longtime champion of the local startup ecosystem, Silicon Valley Bank supports innovative companies with the solutions and financing they need through every stage of growth. With more than 1,500 bankers and relationship advisors, and $42B in loans as of Q2 2024 – SVB delivers the right people, service and resources to support your entire financial journey. Learn more at SVB.com.
Ken Wilcox discusses his book “The China Business Conundrum” and the complexities of doing business in China. Ken is the former CEO of Silicon Valley Bank where he served as CEO of the bank's joint venture with in China for four years. He's also an adjunct professor at UC Berkeley. Host, Kevin Craine Do you want to be a guest? https://Everyday-MBA.com/guest This episode is supported by the Naveen Jindal School of Management
How can SaaS/AI be leveraged to enhance environmental justice and community engagement? The scale and urgency of the transformation required to fight climate change has never been more clear. Building hardware and software products, acquiring the funding and creating a diverse community to enhance talent capacity and to drive innovation, is essential to tackling this global environmental crisis. In this podcast, host and Silicon Valley Bank (a division of First Citizens Bank) Climate Tech & Sustainability SVP Maggie Wong will be interviewing Unified Ground Founder & CEO Jamil Ellis to discuss building SaaS technology to enhance environmental justice and community engagement, best practices utilizing AI for data analytics and relationship development, as well as leveraging the climate ecosystem to optimize partnerships and growth.
It was shortly after Eugene Wong exited the banking world to advance into a senior operations role that he realized the importance of a holistic view. At one meeting, he uncovered a disconnect between product and sales teams that threatened a strategic initiative. By stepping in and aligning priorities, he emerged as a “quarterback,” bridging perspectives and clarifying responsibilities.This revelation set the tone for Wong's career journey. Originally honing his financial acumen at Silicon Valley Bank, he gained close exposure to startup ecosystems and leveraged finance transactions. Later, he pursued an MBA, joined Goldman Sachs to build on transactional capabilities, and returned to Silicon Valley Bank in a senior role. Ultimately, he stepped into the fast-paced realm of growth-stage companies, seeking to become a true financial operator.Today, Wong serves as CFO of Clara Analytics, where he orchestrates data-driven decision-making and fosters cross-functional collaboration. “You can't stay behind spreadsheets,” Wong tells us, “you have to understand what each team does day in and day out.” By meeting regularly with department leads, he seeks to position finance as a trusted partner rather than a distant overseer.Wong credits his “big-picture” focus for sharpening his resource allocation. “Anytime you spend money or time in one place,” Wong tells us, “you're making a bet you can't place elsewhere.”
Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours. Silicon Valley Bank closed its doors today. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank's 40-year-run. For sure you've heard that millionaires are made in recessions, but how? Jaspreet Singh is joining Tom for a second time to get you up to speed on what it takes to get wealthy during any recession. Jaspreet is the Minority Mindset guru and Chief Money Nerd at Minority Mindset Companies. He's been creating financial education videos on YouTube for years and is breaking down all the reason you don't have to be scared during a recession Jaspreet is a voice of reason to remember that recessions are only bad or good in relation to which side of the equation you are on. This is a must watch if you're trying to find the best route through a recession that has most people nervous and panicked. [Original air date: 3-13-23]. CHECK OUT OUR SPONSORS Range Rover: Explore the Range Rover Sport at https://landroverUSA.com Miro: Bring your teams to Miro's revolutionary Innovation Workspace and be faster from idea to outcome at https://miro.com. Found Banking: Stop getting lost in countless finance apps and try Found for free at https://found.com/impact. Netsuite: Download the CFO's Guide to AI and Machine Learning for free at https://netsuite.com/theory Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact Factor: Get 50% off your first box plus 20% off your next month while your subscription is active at https://factormeals.com/impacttheory50 with code impacttheory50. Follow Jaspreet Singh: Website: https://theminoritymindset.com/about-us/ YouTube: https://www.youtube.com/@MinorityMindset Instagram: https://www.instagram.com/minoritymin... Twitter: https://twitter.com/minoritym1ndset Facebook: https://www.facebook.com/MinorityMind... CHECK OUT OUR SPONSORS Range Rover: Explore the Range Rover Sport at https://landroverUSA.com Miro: Bring your teams to Miro's revolutionary Innovation Workspace and be faster from idea to outcome at https://miro.com Betterhelp: This episode is sponsored by BetterHelp. Give online therapy a try at https://betterhelp.com/impacttheory and get 10% off your first month Netsuite: Spend less time looking backwards, and more time on what's next. Download the CFO's Guide to AI and Machine Learning at https://NetSuite.com/theory NordVPN: EXCLUSIVE NordVPN Deal ➼ https://nordvpn.com/impacttheory Try it risk-free now with a 30-day money-back guarantee! Vanta: Get $1,000 off Vanta when you go to https://vanta.com/THEORY ********************************************************************** What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER SCALING a business: see if you qualify here. Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here. ********************************************************************** Join me live on my Twitch stream. I'm live daily from 6:30 to 8:30 am PT at www.twitch.tv/tombilyeu ********************************************************************** LISTEN TO IMPACT THEORY & MINDSET PLAYBOOK AD FREE + BONUS EPISODES on APPLE PODCASTS: apple.co/impacttheory ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Learn more about your ad choices. Visit megaphone.fm/adchoices
#563: Bitcoin is hitting new all-time highs. Is this just another bull cycle, or are we witnessing a fundamental shift in how the world thinks about money? That's the question at the heart of our conversation with Tatiana Koffman, General Partner at Moonwalker Capital and author of "The Myth of Money." Koffman joins us to explain why Bitcoin might be considered "digital property" rather than just a currency. She breaks down how Bitcoin derives its value from mathematical scarcity – similar to how gold becomes harder to mine over time, Bitcoin becomes more difficult and expensive to create every four years through events called "halvings." The conversation moves through several key developments in cryptocurrency. We discuss the recent approval of Bitcoin ETFs and how traditional financial institutions like JPMorgan Chase (whose CEO Jamie Dimon once openly criticized crypto) are now embracing these products. Koffman shares insights about crypto adoption worldwide, from El Salvador's experiment with Bitcoin as legal tender to Dubai's emergence as a crypto hub. When discussing Africa's cryptocurrency landscape, Koffman explains how Nigeria's unstable banking system has driven crypto adoption, with many young people using decentralized exchanges to participate in global markets. She describes how some Nigerians have built significant wealth starting from nothing, using "airdrops" (free tokens given to early adopters) to begin trading. The interview includes a debate about inflation rates and economic data reporting, with Koffman expressing skepticism about official figures, while I push back on claims made without supporting evidence. Koffman also explains different categories of crypto investments, distinguishing between Bitcoin as a potential store of value and what she calls "meme coins" – speculative assets she compares to gambling. She provides context about stable coins, particularly USDC and Tether, and their role during the Silicon Valley Bank collapse. For those interested in investing in cryptocurrency, Koffman suggests starting with exposure to Bitcoin through regulated platforms like Coinbase or ETFs, while emphasizing the importance of proper security measures. She explains concepts like "cold wallets" and "seed phrases," comparing them to different levels of bank security. Looking ahead, Koffman discusses cryptocurrency's potential role in reducing dependence on the U.S. dollar, particularly in developing economies, while acknowledging the challenges of creating stable alternative currencies. Find Koffman's weekly newsletter at mythofmoney.com or follow her on Twitter and Instagram @TatianaKoffman For more information, visit the show notes at https://affordanything.com/episode563 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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