Podcasts about softbank

Japanese conglomerate company

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CryptoNews Podcast
#199: Tatsuya Kohrogi, CSO of Digital Entertainment Asset, on Web3 in Japan & Decentralizing Game Development

CryptoNews Podcast

Play Episode Listen Later Jan 26, 2023 34:32


Tatsuya (Tats) Kohrogi is the Chief Strategy Officer and Head of Global Business for Digital Entertainment Asset, also known as DEA. Tats is responsible for leading the company's global operations. He has an extensive background in sales, marketing, business development, and startup management. Prior to joining the company, he was a senior partner manager at Meta managing business partnerships for the Japan market, based in APAC HQ in Singapore.Prior to Meta, Tats worked with Softbank in Tokyo. He held several leadership roles in sales, digital marketing, investment strategy, portfolio management, and new business development. During his time at SoftBank, Tats co-founded an internal ad-tech service that received funding from SoftBank's internal venture program. Tats was also part of Son Masayoshi's successor program, SoftBank Academia. He took part in CEO projects and learned management philosophy directly from Masa for three years.In this conversation, we discuss:- Stories from Meta and Softbank- Using a buyback program to stabilize a token economy- Fundraising challenges during the crypto winter- How DEA raised USD10 Million from LA-based LDA Capital- Japan's Web3 regulations- Onboarding non-gamers into the Web3 gaming space- The future of P2EDigital Entertainment AssetWebsite: dea.sgTwitter: @PlayMining_SGDiscord: discord.gg/UcEAuyZGCVTatsuya (Tats) KohrogiTwitter: @tatsuya_kohrogiLinkedIn: Tatsuya (Tats) Kohrogi---------------------------------------------------------------------------------  This episode is brought to you by PrimeXBT.  PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance. Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers.  PrimeXBT is running an exclusive promotion for listeners of the podcast. After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions.  Code: CRYPTONEWS50  This promotion is available for a month after activation. Click the link below:  PrimeXBT x CRYPTONEWS50

OMR Podcast
OMR #560 mit Auto1-CEO Christian Bertermann

OMR Podcast

Play Episode Listen Later Jan 22, 2023 89:29


Christian Bertermann und Hakan Koc haben Europas größten Gebrauchtwagenhändler aufgebaut – doch lange hat davon niemand etwas mitbekommen. Dann katapultiere sie der Einstieg von Softbank an die Spitze der heißesten deutschen Startups. Doch nach dem Börsengang ging es für die Aktie des Unternehmens auch ebenso steil bergab. Im OMR Podcast erklärt Christian Bertermann, wie es wieder nach oben gehen soll – und welche Rolle dabei gläserne Lkws spielen.

Startupeable
104. Ricardo Villadiego, Lumu Technologies | Cómo Construir una Compañía Global desde LatAm, Ventas B2B y Product-Led Growth

Startupeable

Play Episode Listen Later Jan 18, 2023 49:28


A los latinoamericanos aún nos cuesta soñar en crear compañías globales, pues no estamos acostumbrados a ver ejemplos en nuestro día a día, a diferencia de otros países. Pero, esta es una creencia limitante que varios emprendedores latinos han derribado durante los últimos 20 años.Uno de ellos es Ricardo Villadiego, CEO y cofundador de Lumu Technologies, una startup que permite a compañías medir riesgos de ciberseguridad en tiempo real y, a la fecha, ha levantado más de 17 millones de dólares de inversionistas como Softbank, Simma Capital Hablamos de los recientes avances en la industria de ciberseguridad y cómo creó un producto que responda a esas necesidades. También, conversamos sobre cómo diseñar un proceso de ventas B2B exitoso, product-led growth y pricing. Hacia el final, Ricardo nos contó cómo superó sus propias creencias limitantes acerca de la posibilidad de crear una empresa global desde Colombia.--La manera más sencilla de ayudarnos a crecer es dejando una reseña en Spotify o Apple Podcasts: https://ratethispodcast.com/startupeableEste episodio es presentado por:• Talently Hire te conecta en 72 horas con desarrolladores de software con al menos 3 años de experiencia. Conoce más en https://talently.tech/hire/• Collective Academy, la neo-universidad de negocios que está re-evolucionando el aprendizaje para líderes en Latinoamérica, presenta su nueva oferta de la mano de los practitioners más top de cada industria, y en combinación con experiencias para impulsar tu diversidad cognitiva en comunidad.--Notas del episodio: https://startupeable.com/lumu/---Para más contenido síguenos en

Fintech Leaders
Aron Schwarzkopf, CEO of Kushki - Ecuador's First Unicorn, Hidden Benefits of a Digital Economy, & Why We Should Get Rid of Cash

Fintech Leaders

Play Episode Listen Later Jan 17, 2023 29:25


Miguel Armaza heads down to sunny Miami for the Fintech Nexus LatAm Conference, to sit down with Aron Schwarzkopf, CEO & Co-Founder of Kushki, one of the largest digital payments companies in Latin America that's helping businesses across the region digitize their payments under a single integration.Founded in 2017, Kushki now operates across most of Spanish-speaking Latin America, was last valued at $1.5 billion, and has raised almost $200 million in equity capital from Kaszek, Softbank, Clocktower, DILA, and more.We discuss:Societal benefits of a digitized economy, and how digital payments can reduce corruption and increase the velocity of a marketWorking with financial regulators across the region and why he sees evidence that regulators understand the benefits of fintech and is optimistic for the future of the industryGrowing Kushki from zero to 1,000 people and some of the biggest lessons learned along the wayWhat it means to be the first Ecuadorian unicorn and why he hopes to inspire more entrepreneurs to follow his path… and a lot more!Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary, instead? Check out the Fintech Leaders newsletter and join 50,000+ readers and listeners worldwide!Miguel Armaza is Co-Founder & Managing General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIpqp

Bremer Börsenschnack mit Sascha und Patrick
(107) Japan-Aktien (Fanuc, Nintendo, Softbank und Co.)

Bremer Börsenschnack mit Sascha und Patrick

Play Episode Listen Later Jan 6, 2023 18:58


In der ersten Folge des neuen Jahres befassen wir uns mit den verschiedensten Aktien aus Japan und knüpfen damit an unsere Länderfolgen auf Wunsch eines Zuhörers an. Außerdem sprechen wir über die Börsengeschichte Japans und ihre Entwicklung bis heute. Wie immer freuen wir uns auf Post, Feedback oder Fragen und Themenwünsche an die E-Mail-Adresse podcast@sparkasse-bremen.de.

BCNランキング スマートフォン売れ筋ランキング
今売れてるAndroidスマートフォンTOP5、Google「Pixel 6a(Softbank)」が17週ぶり首位 2023/1/7

BCNランキング スマートフォン売れ筋ランキング

Play Episode Listen Later Jan 6, 2023 0:56


「今売れてるAndroidスマートフォンTOP5、Google「Pixel 6a(Softbank)」が17週ぶり首位 2023/1/7」 「BCNランキング」2022年12月26日から2023年1月1日の日次集計データによると、Androidスマートフォンのじつばい台数ランキングは以下の通りとなった。5位は、A55s 5G(OPPO)4位は、Redmi Note 11(Xiaomi)3位は、Galaxy A53 5G SC-53C(SAMSUNG)2位は、Pixel 6a(au)(Google)1位は、Pixel 6a(Softbank)(Google)「BCNランキング」は、全国の主要家電量販店・ネットショップからパソコン本体、デジタル家電などのじつばいデータを毎日収集・集計しているPOSデータベースで、日本の店頭市場の約4割(パソコンの場合)をカバーしています。

BCNランキング総合
今売れてるAndroidスマートフォンTOP5、Google「Pixel 6a(Softbank)」が17週ぶり首位 2023/1/7

BCNランキング総合

Play Episode Listen Later Jan 6, 2023 0:56


「今売れてるAndroidスマートフォンTOP5、Google「Pixel 6a(Softbank)」が17週ぶり首位 2023/1/7」 「BCNランキング」2022年12月26日から2023年1月1日の日次集計データによると、Androidスマートフォンのじつばい台数ランキングは以下の通りとなった。5位は、A55s 5G(OPPO)4位は、Redmi Note 11(Xiaomi)3位は、Galaxy A53 5G SC-53C(SAMSUNG)2位は、Pixel 6a(au)(Google)1位は、Pixel 6a(Softbank)(Google)「BCNランキング」は、全国の主要家電量販店・ネットショップからパソコン本体、デジタル家電などのじつばいデータを毎日収集・集計しているPOSデータベースで、日本の店頭市場の約4割(パソコンの場合)をカバーしています。

Big Technology Podcast
Tech's Frothy Days Are Over. Now What? — With Eliot Brown

Big Technology Podcast

Play Episode Listen Later Jan 4, 2023 55:38


Eliot Brown is a reporter for the Wall Street Journal and co-author of The Cult of We. Brown joins us to check in on how the tech industry is adapting after years of zero-interest-rate-driven froth fades away. Tune in for a discussion of how real 'the end of froth' is, whether it was productive or not, and a company-by-company look at Softbank, Tiger Global, Andreessen Horowitz, Palantir, Tesla, and Twitter. If you like Big Technology Podcast, please rate it five stars ⭐⭐⭐⭐⭐ in your podcast app of choice. For weekly updates on the show, sign up for the pod newsletter on LinkedIn: https://www.linkedin.com/newsletters/6901970121829801984/ You can find The Cult of We here.

How I Made it in Marketing
Growth Marketing: Attribution is a myth, but you need it (episode #43)

How I Made it in Marketing

Play Episode Listen Later Jan 4, 2023 58:45


Our latest guest told the story of how she learned to find the ‘why' – why a potential customer should act on her conversion objective.One of the things I really liked about her story – she didn't only focus on the final ‘why' the customer should buy the product or work with the company. Much like the sequences of eight Micro-Yes(es) taught in our free marketing course Become a Marketer-Philosopher: Create and optimize high-converting webpages (https://meclabs.com/course/), she considered the ‘why' for key steps of the customer journey.That's just one of the lessons you can learn from Tate Gibson, Head of Growth, Peak (https://peak.ai/), on this episode of the How I Made It In Marketing podcast.Gibson manages a transatlantic team of seven marketers located in the US and the UK and a marketing budget of $2 million.Peak has $119 million in investment funding raised to date, with SoftBank leading its Series C round.Some lessons from Gibson that emerged in our discussion:Understand where to find growth Attribution is a myth, but you need it Find like-minded people you can learn fromYou don't have to know your end-destination to progress your pathFind the ‘why' Know your numbers Related content mentioned in this episodeMarketing Career: What you need to understand at each step of the job seeker's journey (even if you're not looking) (https://www.marketingsherpa.com/article/how-to/job-seekers-10-step-journey)Creating a Culture of Testing: How to defeat the tyranny of best practices (https://marketingexperiments.com/a-b-testing/tyranny-of-best-practices-html)Product Management & Marketing: Surround yourself with the right people (podcast episode #38) (https://www.marketingsherpa.com/article/interview/product)Data Poetry in Marketing, PR & Corporate Communications (Podcast Episode #17) (https://www.marketingsherpa.com/article/interview/data-poetry)Online Marketing Tests: How do you know you're really learning anything? (https://marketingexperiments.com/digital-analytics/testing-marketing-validity)About this podcastThis podcast is not about marketing – it is about the marketer. It draws its inspiration from the Flint McGlaughlin quote, “The key to transformative marketing is a transformed marketer” from the Become a Marketer-Philosopher: Create and optimize high-converting webpages (https://meclabs.com/course/) free digital marketing course.Get more episodesTo receive future episodes of How I Made It In Marketing, sign up to the MarketingSherpa email newsletter at https://marketingsherpa.com/newslettersApply to be a guestIf you would like to apply to be a guest on How I Made It In Marketing, here is the podcast guest application – https://www.marketingsherpa.com/page/podcast-guest-application

Noticiero Altavoz
Roberto Osuna jugará otra temporada en Japón

Noticiero Altavoz

Play Episode Listen Later Dec 27, 2022 9:28


El lanzador sinaloense firmó un contrato de 5 millones de dólares por una campaña con los Halcones de SoftBank. Los Deportes con Misael Valenzuela.

Noticiero Altavoz
Roberto Osuna jugará otra temporada en Japón

Noticiero Altavoz

Play Episode Listen Later Dec 26, 2022 6:55


El lanzador sinaloense firmó un contrato de 5 millones de dólares por una campaña con los Halcones de SoftBank. Los Deportes con Misael Valenzuela

Education On Fire - Sharing creative and inspiring learning in our schools

Alex Hatvany is the co-founder of Atom Learning, the UK's largest edtech platform for KS2 children. While working as a tutor whilst at university, Alex and his co-founder, Jake, saw how extra tuition was unregulated and often only accessible to children from higher income families. Frustrated, he and Jake resolved to build a platform to help primary school children from all backgrounds prepare for entrance exams at top-tier schools with personalised support. Using AI, Atom creates gamified exercises tailored to each child's level and learning style and offers 90,000 teacher-written questions.All primary schools can access Atom Prime for free and Atom's home learning platform, Atom Nucleus, is also free for any child on free school meals or pupil premium. The platform is used across 1,400 schools in the UK and 90,000 pupils currently use Atom. Atom raised $25million from SoftBank - the largest Series A round ever secured by a UK-based edtech platform.Websitewww.atomlearning.co.ukSocial Media Informationhttps://twitter.com/atomlearninghttps://www.instagram.com/atomlearning/https://www.linkedin.com/in/alex-hatvany-2b0495103/?originalSubdomain=ukResources MentionedThe Sales Acceleration Formula - Mark RobergeWhen Breath Becomes Air Show SponsorNational Association for Primary Education (NAPE) are planning a Primary Education Summit in March 2023. For more information please visit www.educationonfire.com/summit

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
20VC Special: How To Fundraise Like a Pro: How to Size and Price a Round, How to Create FOMO and Urgency in a Fundraise, How to Structure Angel Allocations, The 7 Deadly Sins of Fundraising Decks, The 3 Signs a Potential Investor is Bad News

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Play Episode Listen Later Dec 21, 2022 26:53


20VC: Fundraising 101 Today we are going to walk through the process of raising a funding round for a hypothetical company. We will break it down by different stages in the fundraising process and at those stages I will talk about how each element differs according to the round being raised.  First, for 99% of fundraises it is a game of shots on goal. You need to have enough investors in the pipeline, it is a sheer numbers game. Miki Kuusi @ Wolt said on 20VC recently for his Series B he got 68 rejections before Laurel Bowden @83North said yes. Wolt sold in 2021 for $7BN to Doordash making a monster return for the company's investors. But 68 meetings before that yes, for the Series B. Also goes to show, you sometimes just need one true believer.  How to Create a Target List of Investors Now we know we need enough shots on goal, we need to bring together a target list of investors, put these investors in three buckets: Priority (5 names of people you really want.) Tier 2 (15 names of people you would like) Tier 3 (15 names of people you would take money from but would not invite to your birthday!)  So how do we choose who goes in what bucket? First, founder references speak volumes and lead to warm intros, so speak to your friends who are founders, ask which of their VCs have been the best, place even more weight on their recommendation if the company has not been a success. It is easy to be a VC champion when the company is flying, you often see the true colours of the VC when a company is really struggling or fails. Get a couple of names there and then analyse the VC landscape, you can do this on Twitter or the VCs website or blog and find the VCs that resonate best with your company. Look at the types of deals they have done before, are they interested in pre-seed fintech in Europe, do they do enterprise SaaS Series A in the Silicon Valley. You can see their portfolio, make sure it is a fit for them. I get about 200 inbounds per day across channel, about 150 are clearly not a fit for me because of stage, sector or location and so making sure the obvious are aligned is crucial. Then double down on their Twitter or public profile to see as much as you can about their values and how they portray themselves. Rule No 1, never work with assholes. Value alignment is really important. Now we have the five priorities and then I would say do the same for the Tier 2 and Tier 3 bucket, make sure they invest both in your stage, sector and geography.  The Biggest Mistakes Founders Make Pitching: So now we have our pipe of investors. A couple of big mistakes I see founders make in this next step.  They go to their priority names first. Do not do this. Your pitch both in delivery, style and messaging will improve so much with each meeting. Start with a couple where you would not be sad if they said no. Analyse in real time in those meetings what messages are hitting and what are not, where are investors spending the majority of the time, are there common questions that keep coming up. If so, create an FAQ page that is in the deck and that will prevent you from having to answer the most obvious in other meetings. With each meeting, you will find ways to iterate the deck, the messaging and the way you present.  Another massive mistake founding teams make, if you are doing a Zoom call and it is a first meeting, do not have more than 2 people on the call from your team. It makes it tough to get to the core of the discussion and removes a lot of the relationship building with too many people too soon. If the investor likes the opportunity, they will ask to meet more team members but do not put too much in front of them to the point it dilutes the message and pitch.  Now we have done the first investor meetings and we have iterated our deck and messaging in accordance with the feedback we got. We now progress to taking meetings with investors we want as our partners.  How to Master the Subtleties of a First VC Call: Every investor call usually starts with each side telling a little about themselves and how they came to be the founder or the VC. As the founder, practice your intro, make it succinct, concise, break it into three chapters, a minute per one is a good guidance. In these you want to show a couple of things, founder problem fit or in other words, why you specifically have the right experience or skills to attack this problem. I also like to understand “insight development” as taught to me by the famous OG of seed investing, Mike Maples @ Floodgate. Insight development is the notion that the best companies are founded on a unique insight that the founder has about a product or market that is different to the way the world currently sees it. Include these two in your intro. Keep the intro to no more than 3-4 mins.  For the VCs intro, it is important to try and understand a little more about them. Many VCs give boring and bland intros; “we do Series A and B in Europe and like to lead rounds.” Very standard response and so you should ask them how they like to work with their founders, ask them about a company that struggled and how they worked with the founder to help. Ask them about their decision making process for reserves and pro rata. This creates more of a conversation which will instantly give you as a founder more gravitas in the eyes of the VC.  Use the deck as a vitamin and not a painkiller. I hate pitches where it is read off slide by slide. I would not have the slides showing at all, I will have asked for a deck pre the meeting and I should have gone through it before. The call is for me to ask about questions I want to understand more or double click on. That said, the deck can often be useful as a crutch and so it can work well to have it ready and refer to certain slides as and when necessary.    The 7 Sins of Fundraising Decks: So while we are on the deck, I want to go through a couple of elements that I so often see and they are killer mistakes: Length: Keep the deck less than 10 slides. If you need a couple more to show data or additional research, put it in the appendix at the end of the deck.  Introduction: First slide, company name and then answer the question; if I had a billboard in Times Sq, what would it say on it? 10 words max. From your first slide alone, there should be no doubt about what your company does.  The Team Slide: where do people go wrong here. They put 12 faces on it with their names. No information about the people, where they worked, why they are the best team to solve this problem. A totally useless slide if done like this. So do not do this. Instead, take 4 of those people, break the slide into quadrants and expand on those 4 people's backgrounds to why they are perfectly suited to do what they are doing. Fewer people more context.  The Useless Advisor Slide: Aligned to the terrible pictures of many team members with no context, the advisor slide, honestly, advisor slides just carry such little weight these days, they are not worth having. Take it out, it is not needed.  Market Sizing Errors: This is a massive one. I see so many make the mistake on market size slide. Say we have a CRM for hairdressers, taking a very random example here, so often I will see a $100BN market, thats the TAM for the hairdressing market or the CRM market, but we are CRM for hairdressers so that is not the right representation and is entirely misleading. It is much better to start with that, then show the slither of wallet spend that hairdressers spend on software and then show the even smaller slither that they spend on CRMs. Use the market sizing slide as a way to show your insight and intellect both into how the market is carved up today but also how it is going to change in the future. There is always the debate of what matters more, large market or amazing founders, the truth is, a massively growing market can cover a lot of operational sins and so showing how the market is and will expand and what causes this, the why now, will always be important. But do not show the massive market for hairdressing or whatever it is, I have seen more $1TN TAM for pet grooming businesses that you can imagine. So do not do that.  Exit Slides are Terrible: I do not see this so often now but do not have an exit slide in the deck for your early stage company, the wrong type of investors will be attracted to you if they like this slide, it encourages short term thinking and is not the right way to present for a company that will reshape an industry so no exit slide.  Why You Should Not Invest: One thing I love in startups and always have when I present my funds is a slide, why you should not invest in me. I think the most important thing for all founders is to be aware of their biggest weaknesses and then have clear action plans on what they are doing to mitigate the chances of them impacting their success. So have a slide that says, hey, these are our 3 biggest weaknesses and then tied to each one, this is what we are doing to solve it. This inspires trust in the relationship with the investor and really shows your self-awareness and strategic thinking. How To Structure The Size and Composition of Your Funding Round: Now at some point in the discussion the size of the round and the price of the round will be asked. Use this as a chance to show your calibre as a founder.  You Cannot Sit With Us (You Get The Joke!!!): Massive mistake founders make is they structure a round that does not allow for a VC to invest. What do I mean by this? VCs that lead rounds need to own at least 8% very minimum and if you come in raising $2M on a $25M cap, that is not enough allocation for the VC and pro-rata amount and then angels as well. Do not prohibit the VC from investing because of the structure of your round. For that example, $5M on $25M would allow for the VC to have 12.5% ownership, a smaller fund to have 3-4% and then a 3-4% allocation for angels.  Is This Check Meaningful?: An important question to ask is: is the check size being invested by the lead a material check size for them and their fund? For example, if the check size they are investing is less than 1% of their fund, it is not that meaningful, if it is less than .5%, it really is not meaningful. Now this could be bad as it means they are unlikely to be able to provide you with the same time and attention they would larger checks. That said, Jason Lemkin has also commented before on the benefits of this as they will leave you alone to execute, they will not put much pressure on you as you are not a core position and it is really yours to execute from there.  Do Not Do a Range: In terms of the actual size of check being raised, I do not like ranges. There is a massive difference between 3 and 5 million, and that impact on your runway is huge and so state a clear and direct number you are raising and what runway that will provide.  Milestone Hitting and Showing Resource Allocation: Use the question of how much are you raising to show your insight into the milestones that you need to hit over the next 18-36 months. Never raise less than 18 months, you also do not need to raise more than 36 months. Plan for a 6 month fundraise and execution 99% of the time always takes longer than you anticipate. With that in mind, I always prefer 24 months as the right period to raise for, this will give you 18 months heads down execution and then 6 months to raise.  Fundraising Rounds are To Prove Hypotheses: If we assume that fundraising rounds are science experiments and you have to prove or disprove a set of hypothesis with this time and money, make sure you can clearly articulate what you need to prove and by when. For the love of god do not say, this is the last round we will ever need to raise before we are immensely profitable, I could have a fund the size of Softbank if I had a dollar for everytime someone said that to me.  How to Answer the Question of Valuation: When you say the size of the raise, say $2M, the basic assumption is that each round will dilute 15-20% and so the average VC will think of a $10M post money valuation straight away when you say a $2M raise. That said, you do not want to anchor yourself to a price, you are running a process as transactional as it sounds and I am not saying you want to optimise for price by any means but the majority of the time, it is best to say, “hey we are raising $2M and we will let the market decide on the price”. This is a great way to answer the question as this will not put anyone off, it will not anchor you to a price and it will also show you are savvy as to the raise process which any incoming investor should want to see as your ability to raise the next round is fundamental for them. Again, use this question to show your sophistication and knowledge as to the finer details of how to navigate a fundraise successfully.    How to Choose Your Lead Investor?   The biggest problem of the last 2 years was people chose their lead having met them once. They will be a partner to you for 10 years and you will not be able to get rid of them, it is literally harder to remove an investor than it is to get divorced. Brian Singerman @ Founders Fund said on the show recently about how he was unable to do his job in COVID as he could not meet founders in person. It is so important to meet your lead investor in person before signing the deal, so much can be gained and learned from those meetings in person. Then there is the question of how do I really get to know someone, especially if it is in a compressed timeline, there are ways that you can accelerate a relationship and getting to know someone, make sure to ask: What would success look like to them with this investment? What are the 1-2 core ways they believe that you will not achieve your outcome? What worries them? Can they give you a reference for founders they have worked with where it has not gone to plan? Also do off sheet references and try to find others where it did not go to plan. You can find their email with the Google Plugin by Clearbit and that is super easy. That should reveal alot.  I also find really being vulnerable, talking about ambitions, inspirations, fears, childhood, my mother has MS and it is a tough and horrible thing to see your mother suffer with, I will discuss that and how it has changed me and my mindset in many ways.  How to Set a Timeline in a Fundraise? In this deliberation phase where you are waiting for a term sheet, you do need to create some form of urgency. Investors often need a reason to move and so it is good to put a timeline on the raise. 14 days is perfect, this is enough time for any VC to do the work they need to do but also if they cannot do it in that time without a plausible excuse, it is unlikely that they would have done the deal and so it will force timewasters to a no sooner and save you time.  Your Term Sheet is Ticking: One thing to be wary of is exploding term sheets. If any VC says you have to sign this here and now, that is BS. Do not do it and that is no way to start a 10 year relationship. That said, it is fair for them to set some form of timeline, otherwise, you can shop the term sheet; share it with everyone and use the first people to commit as leverage to create FOMO to get other people to commit. This can be a disadvantage of being a first mover as a VC but that is why they will often have some form of expiry date and that is not unreasonable.    When You Have Multiple Term Sheets: KISS (KEEP IT SIMPLE STUPID)   Then you have leverage and you can optimise the round on price, size of round, size of lead check to angel allocation etc etc. My advice here would always be do not over optimise. If the chosen partner is slightly lower, take it. Do not lose the right partner because of a small 5% difference in price or size of round. Another big mistake founders make when they have multiple term sheets is communication. It is fine if you need another couple of days to consider the decision but keep everyone updated. Let each investor who is waiting know, you are still thinking it through and will be back to them shortly. Name when you will have an answer, a communicated delay is fine, no communication is not. Then another massive mistake founders make is for the VCs they choose not to go with, they do not turn them down graciously. These investors could likely fund your next round, a bridge round and you never know when you might need them and so always turn them down super well and keep them on side, they could be helpful in the future. If a VC Does These 3 Things: Forest Gump It:  Now the massive red flags with leads in this process that we need to call out: Pay to Pitch: If any VC ever makes you pay to pitch them. This is unacceptable and we have to remove this from the industry. Tweet me the details of these investors, it can be anonymous but these bad actors need to be called out. Investment Tranches Kill Companies: If it is an early round and they want to do the investment in tranches. No. This is such an inhibitor for the business it will not allow you to allocate resources effectively or with confidence. Do not allow for tranches. A bad deal can sometimes be worse than no deal. Tranches does not set you up to execute against a plan, build a world class team and achieve what you can. Say no.  Early Signs of Excess Control and Ego: If they haggle immensely on salary over small amounts, if they suggest you should be on $60K not $62K and they make a big deal out of it. This is a sign of what they will be like to come. Do not accept it.  So now we have our lead VC locked in and we have to allocate the rest of the round. I would work hand in hand with my VC to construct the rest of the round. They will have angels they work closely with and think highly of. Use them to help map out those people and then make those intros for you.  How to Allocate Your Angel Allocation: Assemble your angel cap table as you would a sports team. Each person has a specific position which they are specialised to and have a world class skill in. Someone for marketing, hiring, regulation, PR, partnerships etc. A massive mistake I see so often is founders try to cram down all their angels to their smallest allocation so they can fit as many as possible. Do not do this. Give fewer people more allocation. The only thing that matters is that the check size matters to them. For some it will be $10K for others it could be $50K but fewer with more skin in the game is important.  Next I see so many founders drag out the process meeting just one more investor and just one more, after a certain time, just get it done, get it closed and move on.  Just Closed: Time to Prep for the Next Round So now we have closed the round, congrats. Now time to start prepping for the next round, one thing to remember, as a founder, you are always raising. So here is what we should do next: Sit down with our new lead investor and align on what we believe we need to hit to unlock the next round of funding. Will that next round come from them or external financing?  If external financing, what 5 names should we focus on? Make sure to send those 5 names monthly updates with your progress. Investors invest in lines not dots.  Make sure to meet them on a quarterly basis.  By the time of your next fundraise, following 6 face to face meetings and 18 updates, the investor and you will know if this is a partnership you want to pursue.  I want your feedback. Did you enjoy this post? Let me know on Twitter here. 

Untold Stories
The Bitcoin Philosophy ‘Ich bin ein Bitcoiner' with Mark Jeffrey

Untold Stories

Play Episode Listen Later Dec 16, 2022 42:14


What does it mean to be a Bitcoiner living in a Crypto World? Today's guest is Mark Jeffery, an award-winning serial entrepreneur and author with Harper Collins. He is currently working on the Boolean Fund Previously, Mark co-founded the Guardian Circle emergency response network (NEWSWEEK Blockchain Impact Award Nominee (2019), One of FAST COMPANY's 'World Changing Ideas' (2018); Partner: XPRIZE Foundation; Featured in TRUST MACHINE (2018), THE RISE OF BLOCKCHAIN (2019). He is also an early pioneer of blockchain technology, releasing BITCOIN EXPLAINED SIMPLY (2013) and THE CASE FOR BITCOIN (2015). His previous companies include The Palace metaverse (backed by Time Warner, Intel and SoftBank; sold with 10 million users), ZeroDegrees (a business social network sold to InterActiveCorp / IAC in 2004 with 1 million users) and ThisWeekIn (video network). He was the founding CTO of Mahalo / Inside.com (backed by Elon Musk, Sequoia and others). Mark is the author of seven books of fiction, published both traditionally and as audiobooks. His first novel, MAX QUICK: THE POCKET AND THE PENDANT is published by HarperCollins. Mark was one of the first three people ever to podcast a novel: MAX QUICK originally received over 2.5 million downloads in 2005. We discuss a variety of different topics including Bitcoin, the Venture Landscape, Crypto's Killer App, The Bitcoiner Ethos, and much more. We begin our conversation by discussing the Mark's backstory and journey to crypto. We dive deep into the topic of being a Bitcoiner in an increasingly crypto world. Mark explains the reality of being an entrepreneur in the Bitcoin space and the necessity of incorporating crypto to further Bitcoin's mission. We discuss why Bitcoin is so special and what is the holy grail for Bitcoin. We discuss the philosophy surrounding Bitcoin and what it means to be Bitcoiner. We pivot our conversation to discuss the investing environment. Mark explains why it is currently the best time to invest and build in crypto by sharing some of the lessons he learned during the Dot Com Bubble. Mark shares the similarities between the post Dot Com Bubble venture landscape and the current Crypto venture landscape. We discuss various crypto sectors that could lead to Crypto's killer application. We discuss how to avoid burnout and the importance of following your passion. Our last conversation topic centered around the various failures throughout Crypto over the last year and the lessons we can learn from them. Please enjoy my conversation with Mark Jeffrey

BTC Cast
BTC News - Wework está ficando sem caixa! Vai quebrar?

BTC Cast

Play Episode Listen Later Dec 14, 2022 12:31


Saiba mais sobre os cursos da BTC!Inscrições abertas para as turmas de 2023!!!• General Business Program: https://bit.ly/btccast-gbp• Strategy & Finance Fast Track: https://bit.ly/btccast-sfp• Excel + Business Program: https://bit.ly/btccast-ebp• Pricing Strategy Program: https://bit.ly/btccast-psp• General Finance Program: https://bit.ly/btccast-gfp-----Painel diário de notícias de negócios e empresas, comentadas e analisadas pela Business Training Company!Participe do grupo exclusivo BTC e acesse cupons de desconto especiais para nossos cursos, além de vagas e oportunidades nas áreas mais desejadas:https://bit.ly/GrupoExclusivoBTCSe você gostou, INSCREVA-SE em nossa Newsletter para receber nosso conteúdo gratuito:https://bit.ly/btccastnews----------------------------------------------------Siga a Business Training Company nas redes sociais!Facebook: https://bit.ly/face-btcInstagram: https://bit.ly/insta-btcLinkedIn: https://bit.ly/linkedin-btc----------------------------------------------------Confira nosso site: https://bit.ly/SiteBTC

Money Talks: El otro lado de la moneda

Cifras de empleo en EUA. Humildad y calidad de decisiones (los interesados en el proceso de asignación de capital TIENEN que escuchar la conversación de Walter y Luis). Robots para resolver la paradoja de la elección y escribir ensayos. Blackstone (no BlackRock). Masayoshi Son y Softbank. Venture capital (denle 100 pesos a Paco) y tocho (y otros 100 pesos a Luis). Elon: maestro del Kansas City shuffle. El matrimonio es un contrato civil. Preguntas de la audiencia y recomendaciones Suscríbanse, dennos LIKE, y dejen comentarios con buena vibra :D Sígannos en Twitter: www.twitter.com/walterbuchananc www.twitter.com/luizgonzali www.twitter.com/fravazah (aquí compartimos los materiales que conversamos en el programa todos los lunes)

The Nonlinear Library
EA - How VCs can avoid being tricked by obvious frauds: Rohit Krishnan on Noahpinion (linkpost) by HaydnBelfield

The Nonlinear Library

Play Episode Listen Later Nov 27, 2022 5:40


Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: How VCs can avoid being tricked by obvious frauds: Rohit Krishnan on Noahpinion (linkpost), published by HaydnBelfield on November 27, 2022 on The Effective Altruism Forum. Rohit Krishnan is a former hedge fund manager. Both he and Noah Smith are now mainly-economics commentators, and have been good guides to the FTX crash on Twitter. I found this short piece very helpful in getting a sense of how big the screw-up was by the investors in FTX. It opens like this: We live in the golden age of technology fraud. When Theranos exploded, there was much hemming and hawing amongst the investing circles, mostly to note that the smart money on Sand Hill Road were not amongst those who lost their shirts. When WeWork put out its absolute sham of an IPO prospectus before getting cut by 80%, most folks said hey, it's only the vision fund that was lacking vision. But now there's a third head on that mountain, and it's the biggest. Theranos only burned $700 million of investors' money. Neumann at WeWork supposedly burned around $4 Billion, but that was mostly from Softbank. FTX puts these to shame, incinerating at least $2 Billion of investors' money and another $6-8 Billion of customers' money in mere hours. Soon to be legendary, worse than Enron and faster than Lehman, there is the singular fraud of FTX and its CEO Sam Bankman-Fried. But unlike those other crashes, this seems like it might take down multiple other firms, and create a 2008 moment for crypto, which used to be a $2 Trillion asset class. More importantly, to figure out how we can stop something like this from happening. Not fraud, since that's part of the human OS, but at least having the smartest money around the table getting bamboozled by tousled hair and cargo shorts. The part that I found the most illuminating was this section on 'Dumb Enron' and some of the specific mistakes made by big investors like Temasek and Sequoia. I. The problem: this is Dumb Enron Temasek, not known to be a gunslinger in the venture world, released a statement after they lost $275 million with FTX. It's carefully written and well worded, and is rather circumspect about what actually went wrong. They mention how their exposure was tiny (0.09% of AUM) and that they did extensive due diligence which took approximately 8 months, audited financial statements, and undertook regulatory risk assessments. But the most interesting part is here: As we only had a ~1% stake in FTX, we did not have a board seat. However, we take corporate governance seriously, engage the boards and management of our investee companies regularly and hold them accountable for the activities of their companies. Sequoia, when it lost $214 million across a couple of funds, also mentioned in their letter to LPs they did “extensive research and thorough due diligence”. A week later they apologized to the LPs on a call and said they'll do better, by maybe using the Big 4 to audit all startups. I suspect this is hyperbole because otherwise this is medicine sillier than the disease. These are not isolated errors in judgement though. The list of investors in FTX is a who's who of the investing world - Sequoia, Paradigm, Thoma Bravo, Multicoin, Softbank, Temasek, Lux, Insight, Tiger Global. Doug Leone made the reasonable point that I made above, that VCs don't really do forensic accounting. They got some audited financials, and it looked good, but it's a snapshot at the end of a quarter, so why would they know shenanigans had taken place! But honestly, if VCs had been snookered by Theranos, that would make more sense. Like what do VCs know about how much blood is needed to test something? Sure it doesn't quite sound right (100s of tests from a single drop of blood!) and there were people saying this is impossible, but they say that kind of thing about everything! And Holmes' pro...

¿Por qué no te habré hecho caso? con Santiago Siri y Hernán Zin

La caída de la casa de intercambio FTX ha dejado al descubierto muchas miserias. Destacan las de los grandes fondos de inversión que dieron cientos de millones de dólares a las empresas de Sam Bankman-Fried. Secuoya Capital, Tiger Global, Softbank, invirtieron cantidades de vértigo en FTX y Alameda, empresas que no tenían junta directiva o un equipo financiero, en las que Sam Bankman-Fried manejaba el dinero con opacidad y descontrol, como si fuera su propia caja chica.  En este nuevo episodio del podcast, Santi Siri y Hernán Zin nos explican cómo es posible que algunos de los fondos de inversión más grandes del mundo cometieran semejantes errores. ¿Acaso no hicieron lo que se llama el “due diligence”? Una mínima investigación sobre la estructura, finanzas y estatus legal de las empresas a las que dieron fondos tan alegremente.  ¿Pueden ser tan torpes estos hombres que manejan miles de millones de dólares, a los que se considera los reyes de las finanzas, a cuyos pies se rinde el mundo empresarial?  Parece que sí.Una producción de Pod Land.La revolución del podcast.www.podcast.com

Patrick Boyle On Finance
The Institutional Investors Who Lost With FTX

Patrick Boyle On Finance

Play Episode Listen Later Nov 24, 2022 16:50 Transcription Available


Since its launch in 2019, FTX has raised $1.8bn and was most recently valued at $32bn. Among its shareholders are some of the world's most-respected hedge fund managers and Venture Capitalists. Now with FTX having filed for bankruptcy, their investments look to be a complete wipeout. Investors including Sequoia, SoftBank and Paradigm, which was co-founded by former Sequoia partner Matt Huang, have marked their holdings in the company to zero, vaporising hundreds of millions of dollars in value.FTX's list of investors spans powerful and well-known investment firms: NEA, IVP, Iconiq Capital, Third Point Ventures, Tiger Global, Altimeter Capital Management, Lux Capital, Mayfield, Insight Partners, Sequoia Capital, SoftBank, Lightspeed Venture Partners, Ribbit Capital, Temasek Holdings, BlackRock and Thoma Bravo.Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube Channel Support the show

True Growth con Fernando Trueba
Transformación Digital y Creación de Hábitos - Javier Martínez Morodo

True Growth con Fernando Trueba

Play Episode Listen Later Nov 22, 2022 79:49


Javier Martínez Morodo fue Chief Strategy officer para GBM y Chief Product Officer para Bitso. Javier tiene una historia sumamente inspiradora, en la que la transformación y la mejora continua han sido una constante tanto a nivel profesional como a nivel personal. Después de haber vivido una experiencia muy complicada a nivel laboral en su primer trabajo, Javier llegó a GBM para hacer historia. Durante once años de relación con la compañía, tuvo a su cargo el lanzamiento de productos como Homebroker, Pigo y GBM+, fue Director General de GBM Asset Management y lideró el proceso de levantamiento de capital con Softbank — quien invirtió $150M de USD para convertir a GBM en uno de los nuevos unicornios de México. Javier es una de las referencias de la industria de FinTech en México y un apasionado por crear un impacto positivo en la gente. Con Javier platico sobre transformación a nivel empresarial y a nivel personal, sobre la creación de hábitos y sobre su experiencia con ayahuasca y el impacto que tuvo en su vida.

That Was The Week
The Crazy Ones: In Defense of Risk-Takers

That Was The Week

Play Episode Listen Later Nov 19, 2022 38:22


Masayoshi San, Cathy Woods, Elon Musk, and Sam Bankman-Fried have all been in the spotlight I want to take a step back, and a deep breath and ask. Would we be better without risk-takers? Even risk-takers that take too much risk and lose? Content from @elonmusk, @CathyDWood, @GSands, @masason, @SBF_FTX, @HarryStebbings, @mwseibel Contents Editorial In Defense of Risk-Takers The Crazy Ones Masayoshi Son owes $4.7bn to SoftBank following tech rout 20VC: ARK Invest's Cathie Wood - Harry Stebbings Musk Warns Twitter May Lose Billions Next Year Elon Musk gives Twitter staff deadline to commit to being ‘hardcore' Twitter Employees Have Reportedly Had Their Building Access Suspended and Musk is Being Suspiciously Quiet Costanoa's First 10 Years: What a Long (and Short) Strange Trip It's Been Essays of the Week What to Watch in AI In My Newsletter I Trust Binance role in FTX collapse under congressional scrutiny Binance's CZ is considering purchasing Genesis' loan book Crypto Lending Seizes Up as FTX Contagion Spreads Narratives – Stratechery by Ben Thompson News of the Week Endowments quickly slide from record-breaking returns to losses Want to Invest Like a VC? These New Indexes Can Help You Do It Meet The Companies That Joined The Emerging Unicorn Board In October 2022 Sam Bankman-Fried Tries to Explain Himself Startups of the Week Protocol - RIP Mother Duck Mastodon Tweet of the Week Michael Seibel - @mwseibel

Emprendeduros
EP. #158 | Ha llegado el nuevo orden mundial

Emprendeduros

Play Episode Listen Later Nov 18, 2022 82:01


¡Emprendeduros! En el episodio de hoy Rodrigo y Alejandro nos dan una actualización de mercado donde hablan de la situación del Mercado, del G20, de los empleos y un indicador de miedo. Revisan el reporte de ingresos de Nubank, Tyson Foods, Oatly, Walmart, Target, TJX, Home Depot, Nvidia y Softbank. Después nos cuentan la última apuesta de Warren Buffet. También hablan de Elon Musk y Twitter. Finalmente nos dan una actualización de Cryptos donde hablan del lanzamiento de SWOOSH por parte de Nike y continúan la saga de la caída de FTX.

Equity
Pick your poison: recruitment or retention?

Equity

Play Episode Listen Later Nov 18, 2022 34:01


Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.This week, Alex and Natasha discussed the latest and greatest of this consuming news cycle. Our goal with the episode, as always, is to go beyond what you may see in a 140 character-take on [insert big story here]. And in today's recording? That wasn't hard at all.We started with our good news segment: 1) Maven, now valued at $1.35 billion, is answering a countrywide demand: More fertility benefits and 2) Alibaba eyes logistics growth in LatAm as China commerce slows. We love a chance to talk about growth, despite all odds and even trends!Then, right off the heels of our amazing debut crypto conference, we take a minute to talk about the FTX Fall out. Yep, we're talking about how one African Web3 startup got screwed over  and why SoftBank joined Sequoia in marking down its investment in the crypto exchange.We then turn to the latest in layoffs: Amazon's 3% cut, cuts at Morning Brew and Protocol, and Musk's latest attempt to recruit (or retain?) Twitter employees. We still don't know what's happening there, don't ask us. Ok fine, you can.And we'll end by throwing this gem here, with little to know context: I volunteer as tribute. And that's wrap. As always you can follow the show on Twitter, leave us a rating on Apple Podcasts and, most importantly, be kind to your people. Talk soon!Equity drops at 7 a.m. PT every Monday and Wednesday, and at 6 a.m. PT on Fridays, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together, and more!

Sovereign Man
FTX: It takes a village to fail this big…

Sovereign Man

Play Episode Listen Later Nov 18, 2022 51:30


You've probably been following the news that FTX, one of the largest cryptocurrency exchanges in the world, is in hot water. And frankly that characterization is an insult to hot water. FTX has already filed for bankruptcy. Potentially $10 billion or more of customer money is at risk. The new CEO states that the company's internal controls were “a complete failure”. And the company's founder, Sam Bankman-Fried, has proven himself to be, at a minimum, an irresponsible, reckless child, if not a full-blown fraudster. It's easy to lay the blame exclusively on him. And he clearly deserves a lot of it. But a failure (if not fraud) of this size cannot be perpetrated by a single individual. Even Bernie Madoff had accomplices. Or people who should have noticed but were totally negligent at their jobs. In fact the Madoff scandal is a great example. Madoff's firm had to undergo routine regulatory examinations. And yet, year after year, the Securities and Exchange Commission completely failed to notice the rampant fraud. In the aftermath of the Madoff scandal, a US Department of Justice investigation concluded that in the SIXTEEN YEAR period between 1992 and 2008, the SEC had “more than ample information” and that they “could have uncovered the Ponzi scheme well before Madoff confessed.” The report further blames the regulatory agency's failure on “systematic breakdowns in which the SEC conducted its examinations and investigation.” Talk about being asleep at the wheel... In the case of FTX, there were also a lot of people who failed to notice what was happening. Most notably, Sam Bankman-Fried became the #6 biggest political donor in the United States; 99.6% of his contributions went to progressive candidates. Did any of those politicians really scrutinize where the money came from? Did any of them ask for audited financial statements to make sure the money was clean… or to make sure that the guy wasn't spending his customers' money? Apparently not. Politicians happily cashed the checks and didn't ask any questions. This is an outrageous failure. Politicians constantly pass rules and regulations making financial compliance far more onerous for everyone else. (If you don't believe me, try going down to your local bank and withdrawing $25,000 in cash… and see how quickly they treat you like a criminal suspect. You'll be there all day filling out forms and justifying your actions.) But do they apply those same rules to themselves? Absolutely not. They just take the donations. It's a despicable double standard. Also culpable in this massive failure are the prominent venture capital firms who enabled this overgrown man-child to go rogue. Sam Bankman-Fried raised at least $1 billion from investors, including firms like Softbank and Sequoia Capital. Softbank, of course, is infamous for its enormous investment in WeWork, effectively encouraging CEO Adam Neumann to recklessly spend other people's money. It seems that Softbank didn't learn its lesson, because they once again dumped a mountain of cash on a guy who is even worse than Neumann. More importantly, however, Sequoia and Softbank are hard core, sophisticated investors. They have huge teams of lawyers, bankers, and analysts. And, even though FTX is a private company, as investors they would have had access to the company's financial statements. In other words, they should have seen the impropriety. They should have seen it, and they should have done something about it. But they didn't. They stood by once again in silence, enabling Bankman-Fried's irresponsibility. Despite this colossal failure of a major player in the crypto sector, however, it's important to separate FTX (the company) from crypto (the idea, and the asset class). In my view, FTX isn't even a crypto business. It's a financial institution, little different than Bank of America. Whenever you make a deposit at Bank of America, that money becomes BOA's asset. In other words,

Techmeme Ride Home
Fri. 11/18 – Twitter: Not Dead At The Time Of This Posting

Techmeme Ride Home

Play Episode Listen Later Nov 18, 2022 19:48


I'm here with you all as we wait for the end of Twitter together. Unless it doesn't die. In which case, I dunno. Masa Son is actually personally in hock to the Vision Fund now that all its investments have gone pear shaped. A weird end of an era for Facebook. It's not about status updates anymore. And, of course, the Weekend Longreads Suggestions.Sponsors:Storyblok.com/ridehomeLinks:Hundreds of employees say no to being part of Elon Musk's ‘extremely hardcore' Twitter (The Verge)Tweet thread on why @peterclowes left TwitterMasayoshi Son owes $4.7bn to SoftBank following tech rout (FT)End of an Era: Facebook Takes Sexuality, Religion, Address, and Politics Off of Your Profile (Gizmodo)Weekend Longreads Suggestions:Tweet thread from @MosquitoCapital on the many ways Twitter could breakNvidia RTX 4080 review: performance, for a price (The Verge)1Password wants to ditch passwords without locking you in to one platform (Fast Company)Why Big Tech Is Throwing $1 Billion at Sucking CO2 From the Air (CNET)My Mastodon handle: @ridehome@toot.communitySign up for Post: https://post.news/?r=zXrzhSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nonlinear Library
LW - If Professional Investors Missed This... by jefftk

The Nonlinear Library

Play Episode Listen Later Nov 16, 2022 4:46


Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: If Professional Investors Missed This..., published by jefftk on November 16, 2022 on LessWrong. One of the largest cryptocurrency exchanges, FTX, recently imploded after apparently transferring customer funds to cover losses at their affiliated hedge fund. Matt Levine has good coverage, especially his recent post on their balance sheet. Normally a crypto exchange going bust isn't something I'd pay that much attention to, aside from sympathy for its customers, but its Future Fund was one of the largest funders in effective altruism (EA). One reaction I've seen in several places, mostly outside EA, is something like, "this was obviously a fraud from the start, look at all the red flags, how could EAs have been so credulous?" I think this is mostly wrong: the red flags they cite (size of FTX's claimed profits, located in the Bahamas, involved in crypto, relatively young founders, etc.) are not actually strong indicators here. Cause for scrutiny, sure, but short of anything obviously wrong. The opposite reaction, which I've also seen in several places, mostly within EA, is more like, "how could we have caught this when serious insitutional investors with hundreds of millions of dollars on the line missed it?" FTX had raised about $2B in external funding, including ~$200M from Sequoia, ~$100M from SoftBank, and ~$100M from the Ontario Teacher's Pension Plan. I think this argument does have some truth in it: this is part of why I'm ok dismissing the "obvious fraud" view of the previous paragraph. But I also think this lets EA off too easily. The issue is, we had a lot more on the line than their investors did. Their worst case was that their investments would go to zero and they would have mild public embarrassment at having funded something that turned out so poorly. A strategy of making a lot of risky bets can do well, especially if spending more time investigating each opportunity trades off against making more investments or means that they sometimes lose the best opportunities to competitor funds. Half of their investments could fail and they could still come out ahead if the other half did well enough. Sequoia wrote after, "We are in the business of taking risk. Some investments will surprise to the upside, and some will surprise to the downside." This was not our situation: The money FTX planned to donate represented a far greater portion of the EA "portfolio" than FTX did for these institutional investors, The FTX Future Fund was probably the biggest source of EA funding after Open Philanthropy, and was ramping up very quickly. This bankruptcy means that many organizations now suddenly have much less money than they expected: the FTX Future Fund's committed grants won't be paid out, and the moral and legal status of past grants is unclear. [1] Institutional investors were not relying on the continued healthy operation of FTX or any other single company they invested in, and were thinking of the venture capital segment of their portfolios as a long-term investment. FTX and their affiliated hedge fund, Alameda Research, were founded and run by people from the effective altruism community with the explicit goal of earning money to donate. Their founder, Sam Bankman-Fried, was profiled by 80,000 Hours and listed on their homepage as an example earning to give, back when he was a first-year trader at Jane Street, and he was later on the board of the Centre for Effective Altruism's US branch. FTX, and Bankman-Fried in particular, represented in part an investment of reputation, and unlike typical financial investments reputational investments can go negative. These other investors did have much more experience evaluating large startups than most EAs, but we have people in the community who do this kind of evaluation professionally, and it would also have been possible t...

The Nonlinear Library
EA - If Professional Investors Missed This... by Jeff Kaufman

The Nonlinear Library

Play Episode Listen Later Nov 16, 2022 4:48


Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: If Professional Investors Missed This..., published by Jeff Kaufman on November 16, 2022 on The Effective Altruism Forum. One of the largest cryptocurrency exchanges, FTX, recently imploded after apparently transferring customer funds to cover losses at their affiliated hedge fund. Matt Levine has good coverage, especially his recent post on their balance sheet. Normally a crypto exchange going bust isn't something I'd pay that much attention to, aside from sympathy for its customers, but its Future Fund was one of the largest funders in effective altruism (EA). One reaction I've seen in several places, mostly outside EA, is something like, "this was obviously a fraud from the start, look at all the red flags, how could EAs have been so credulous?" I think this is mostly wrong: the red flags they cite (size of FTX's claimed profits, located in the Bahamas, involved in crypto, relatively young founders, etc.) are not actually strong indicators here. Cause for scrutiny, sure, but short of anything obviously wrong. The opposite reaction, which I've also seen in several places, mostly within EA, is more like, "how could we have caught this when serious insitutional investors with hundreds of millions of dollars on the line missed it?" FTX had raised about $2B in external funding, including ~$200M from Sequoia, ~$100M from SoftBank, and ~$100M from the Ontario Teacher's Pension Plan. I think this argument does have some truth in it: this is part of why I'm ok dismissing the "obvious fraud" view of the previous paragraph. But I also think this lets EA off too easily. The issue is, we had a lot more on the line than their investors did. Their worst case was that their investments would go to zero and they would have mild public embarrassment at having funded something that turned out so poorly. A strategy of making a lot of risky bets can do well, especially if spending more time investigating each opportunity trades off against making more investments or means that they sometimes lose the best opportunities to competitor funds. Half of their investments could fail and they could still come out ahead if the other half did well enough. Sequoia wrote after, "We are in the business of taking risk. Some investments will surprise to the upside, and some will surprise to the downside." This was not our situation: The money FTX planned to donate represented a far greater portion of the EA "portfolio" than FTX did for these institutional investors, The FTX Future Fund was probably the biggest source of EA funding after Open Philanthropy, and was ramping up very quickly. This bankruptcy means that many organizations now suddenly have much less money than they expected: the FTX Future Fund's committed grants won't be paid out, and the moral and legal status of past grants is unclear. [1] Institutional investors were not relying on the continued healthy operation of FTX or any other single company they invested in, and were thinking of the venture capital segment of their portfolios as a long-term investment. FTX and their affiliated hedge fund, Alameda Research, were founded and run by people from the effective altruism community with the explicit goal of earning money to donate. Their founder, Sam Bankman-Fried, was profiled by 80,000 Hours and listed on their homepage as an example earning to give, back when he was a first-year trader at Jane Street, and he was later on the board of the Centre for Effective Altruism's US branch. FTX, and Bankman-Fried in particular, represented in part an investment of reputation, and unlike typical financial investments reputational investments can go negative. These other investors did have much more experience evaluating large startups than most EAs, but we have people in the community who do this kind of evaluation professionally, and it would ...

FactSet U.S. Daily Market Preview
Financial Market Preview - Monday 14-Nov

FactSet U.S. Daily Market Preview

Play Episode Listen Later Nov 14, 2022 4:01


US futures are pointing to a lower open as of 4:15 ET. European equity markets have started with a small gain, following mixed Asian trade. Fed Governor Waller has reiterated that there's still a long way to go before concluding rate hikes, adding rates will stay high until inflation is closer to the 2% target. Fed officials are maintaining the notion of inflation staying higher for longer. Elsewhere, China announced a property sector rescue package, and President Biden will meet with China's Xi in Bali today. Companies Mentioned: Luther Burbank, Washington Federal, Walt Disney, Chevron, Softbank

Taking the Leap
Oren Zaslansky - Founder and CEO of Flock Freight

Taking the Leap

Play Episode Listen Later Nov 13, 2022 94:36


Show Notes:  Oren is a graduate of California State University at Long Beach & Harvard Business School Young President's Organization (YPO) member Marc Andreessen “Software is eating the world!” Flock Freight – “We are building an enormous tech stack and incredible cutting-edge technology business while building a best-in-class freight block – algorithmic ride-sharing of freight.” https://www.flockfreight.com/about-us/ 50% of the semi-trailers on the road are only 50% full. This is wasteful of space and increases carbon emissions to move cargo. Terminal-free or hubless shipping to move cargo across the country. Key performance indicators in the freight industry. On-time pick up On-time delivery Damage Transit time Loss/theft (9:45) HBS Professor Francis Frei - Three Wedges of Business  Customer Delight Supplier Surplus Profits for the Firm Flock Freight is the only Certified B-Corporation in the freight industry! It is important to be environmentally AND financially sustainable (18:00) Is deflation coming to the freight industry?  Transportation as an industry is $7 Trillion globally and $1 Trillion in the US (20:50) How does Oren pivot and tackle the challenges of entrepreneurship while dealing with the stress of the job? “It is better to expect that you will have to chew glass daily!” “Because it is hard it is worth doing! Don't expect hard things to be easy.” (27:00) Why is it important to have close friends, confidants, mentors, and coaches around you on your journey to help you? (29:00) “Business is like middle school.” (33:00) What is it like to navigate an 18-month near-death experience for his business? (39:00) What is it like to have big outside investors like Softbank, Google Ventures, GLP, and Signal Fire as investors in your company?  (49:00) Why is it important to wear your values on your sleeve as a leader and CEO? (50:40) Why does Oren invest so much in continuing education?  Why I started vs. Why I stayed. “I loved it because I felt safe.” (1:04:00) How can society come together to communicate better and see different points of view? Be conscious about the world around us Be thoughtful about others' viewpoints and perspectives “99% of the world is the same…we all want to live in peace and raise our families in peace and prosperity.” As you move up Maslow's Hierarchy of needs, you are able to have different types of conversations. (1:11:45) What is coming down the pike with technology advancements, AV (autonomous vehicles) and how will this impact the economy? Upwards of 2.5m truck drivers could lose their jobs over time Creative destruction in all industries are changing jobs and careers across many sectors…causing “career migration or career immigrants” (1:22:00) We love our truck drivers! “It's hard…Let's do it!” “The benefit of being a for-profit is we are sustainable! You can do well by doing good.” Book Recommendations Mornings on Horse Back – David McCullough War and Peace – Leo Tolstoy Washington – Ron Chernow Hamilton – Rob Chernow (1:25:00) Why Oren is reading historical biographies of leaders “They were people who worked on big things with a lot of purpose behind what they did and many times were reluctant but they felt called and felt compelled into service.” “I've been filling up my tank on people doing hard things!” Final Question: If you had the ability to give a state of the union address to the American people what would you say? Follow Bob Dickie on Twitter @RobertDickieFollow "Taking the Leap Podcast" on Youtube.com

WSJ Minute Briefing
Crypto Exchange FTX Files for Bankruptcy

WSJ Minute Briefing

Play Episode Listen Later Nov 11, 2022 2:23


Sam Bankman-Fried resigns as FTX's CEO. SoftBank posts profit from large sales of Alibaba stock. Ukrainian forces retake Kherson after Russian troops retreat. Danny Lewis reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dans la tête d'un CEO
#69 Lubomila Jordanova (Plan A) - ENGLISH EPISODE : How to build a Climate Tech startup when climate crisis was not a trend.

Dans la tête d'un CEO

Play Episode Listen Later Nov 10, 2022 45:36


« It became too heavy, I just knew way too much, so I eventually decided to quit my job. » Let's talk about Climate Tech! This week, we are thrilled to welcome Lubomila Jordanova, Founder & CEO of Plan A, to answer Yacine Sqalli 's questions.

Colloquium
Venture Capital & The US Economy: How the Private Markets are Generating More Profit with Teddy Himler

Colloquium

Play Episode Listen Later Nov 9, 2022 40:28


Teddy is a Venture Capital Partner, running a fund at Antler that focuses on what he calls emerging tech ecosystems. He previously was at SoftBank, Comcast Ventures, and Goldman Sachs. Key Highlights: [00:01 - 14:16] The Impact of Venture Capital on the US Economy VC is responsible for 40% of the workforce and contributes over 80% of R&D spending in the USHow emerging economies are closer to becoming developed economies through venture capitalThe role of private markets in addressing the shortening of the life of public companies [14:17 - 39:11] Geographic Arbitrage: Valuations in Emerging Markets Teddy shares his insights on success in venture capital and finding GPsThe regional advantage and how it can be translated into a dominant market positionHow the US economy is the strongest in the world and has the most robust capital markets [39:12 - 40:28] Closing Segment Email Teddy Himler via teddy@antler.co and follow him on Twitter. Key Quote:“I think success in venture capital comes from really seeing everything and longevity… You should be looking for those GPs who have the benefit of history, whether as an operator or an investor in this specific region, you should look for GPs who are well connected.” - Teddy Himler Connect with Teddy Himler:Twitter: https://twitter.com/teddyhimler Email: teddy@antler.co Resources MentionedThe Power Law by Sebastian MallabyShoe Dog by Phil KnightConnect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON!

The Scoop
Inside FTX's demise with Framework Ventures co-founder Vance Spencer

The Scoop

Play Episode Listen Later Nov 9, 2022 39:40


In response to the unexpected collapse of FTX, billions of dollars in crypto have been flowing out of exchanges over the past 24 hours as market participants rush to self-custody their funds. In this breaking news edition of The Scoop, Frank Chaparro and Framework Ventures Co-Founder Vance Spencer analyze the factors that contributed to FTX's rapid downfall, as well as speculate on the comingled relationship between Alameda and FTX. According to Spencer, a Coindesk report on Alameda's balance sheet published on November 2nd was a critical turning point in the saga. “What I was expecting a giga-brain firm like Alameda to have on their balance sheet was sovereign bonds offset by equity positions offset by other hedges, but it was just kind of like a retail crypto portfolio,” says Spencer. The prices of tokens associated with FTX and Alameda have plummeted, particularly FTX's native FTT token, which is down over 80% in the last two days. Since FTX is backed by some of the biggest funds in the world including SoftBank and Tiger Global, Spencer suggests the fact that Binance appears to be FTX's only option points to the likelihood that the reality of FTX's book must be very severe: “For you to go to your biggest rival who is actively trying to kill you and sell to them implies to me that the other people weren't biting and that [Binance] was kind of the only option… What this makes me think is that the hole is either very large, or there's something else on the balance sheet which caused other people to pass.” Episode 109 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Framework Ventures Co-Founder Vance Spencer. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Tron, Ledn About Tron TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord | About Ledn Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Human Capital Innovations (HCI) Podcast
S41E5 - What the Role of Recruiter Will Look Like in 2023, with Anil Dharni

Human Capital Innovations (HCI) Podcast

Play Episode Listen Later Nov 8, 2022 32:37


In this HCI Podcast episode, Dr. Jonathan H. Westover talks with Anil Dharni about what the role of recruiter will look like in 2023. Anil Dharni (https://www.linkedin.com/in/anildharni/) is Sense CEO and Co-Founder. Sense empowers fast growing companies to simplify and personalize recruiting through AI- driven talent engagement. Sense has raised over $90M led by SoftBank, Accel, and Google Ventures. Before founding Sense, Anil was co-founder and COO at Funzio, which was acquired by GREE in 2012 for $210M, where Anil continued his work as COO. Prior to Funzio, Anil led Product and Design at the third largest Social Networking company, hi5. Anil has an MBA from MIT Sloan School of Engineering and a Bachelor's degree in Aeronautical Engineering. Please consider supporting the podcast on Patreon and leaving a review wherever you listen to your podcasts! This episode is sponsored by/brought to you by BetterHelp. Give online therapy a try at www.BetterHelp.com/HCI and get on your way to being your best self. Check out Ka'Chava at www.Kachava.com/HCI. Check out BELAY here. Check out the HCI Academy: Courses, Micro-Credentials, and Certificates to Upskill and Reskill for the Future of Work! Check out the LinkedIn Alchemizing Human Capital Newsletter. Check out Dr. Westover's book, The Future Leader. Check out Dr. Westover's book, 'Bluer than Indigo' Leadership. Check out Dr. Westover's book, The Alchemy of Truly Remarkable Leadership. Check out the latest issue of the Human Capital Leadership magazine. Each HCI Podcast episode (Program, ID No. 592296) has been approved for 0.50 HR (General) recertification credit hours toward aPHR™, aPHRi™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Learn more about your ad choices. Visit megaphone.fm/adchoices

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
20VC: The GoPuff Memo: Why 10-15 Minute Delivery is an Unsustainable Model, The Plan to Make GoPuff Profitable by 2024, Mistakes Made in Europe and What the Europe Plan Should Have Been and What Does Quick Commerce Look Like in 5 Years with Rafael Illisha

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Play Episode Listen Later Nov 2, 2022 43:26


Raf Illishayev is the Co-Founder and CEO @ GoPuff, one of the market leaders delivering daily essentials in minutes. GoPuff's latest funding round priced the company at a reported $8.9Bn in March 2021 and to date, Rafael has raised over $2.4Bn for the company from the likes of Accel, Softbank, Fidelity, Baillie Gifford, D1 Capital and more. Rafael has scaled the company to over 1/3 of the US with over 12,000 employees nationwide. In Today's Episode with GoPuff's Rafael Ilishayev You Will Learn: 1.) From Student to Global CEO: How Raf came up with the idea for GoPuff and started the company as a student with no funding? What were the early signs of product-market fit that Raf observed in the early days? In hindsight, does Raf wish they had raised external funding sooner than they did? What would raising external funding sooner have changed about the way they run the business? 2.) The Rise and Fall of Quick Commerce: What are the core drivers that have led to capital drying up for players in the quick commerce space? With the changing environment, is it a race to profitability for all providers in the space? Is this the perfect time for GoPuff to acquire? What are the characteristics of businesses in the space that GoPuff would vs would not like to acquire? How does Raf see the quick commerce space looking in 5 years time? 3.) Getting to Profitability: The Levers That Matter: Customer Service: Why does Raf believe that all players pulling back on investing in customer service are making a massive mistake? What can be done instead? Delivery Time: Why does Raf believe the 10-minute delivery model is fundamentally unprofitable? How do GoPuff approach it as a result? Inventory: With a changing macro-environment, why does Raf believe it is prudent to focus more attention on alcohol and convenience goods? What do prior recessions show us about consumer spending patterns changing? Metrics: What are the single most important metrics which dictate the speed of getting to profitability? Why is the amount of orders a driver can deliver per hour the most important metric? 4.) Business Expansion Opportunities: How does Raf analyze the opportunity for GoPuff in Europe? Why does Raf believe they should have pulled out of Spain much sooner? Why are they so focused on the UK now? Why does Raf believe it is the right decision to stop investing in GoPuff pharmacy? Why is Raf so bullish on GoPuff kitchens? How does the unit economics of the kitchens compare to the core business for GoPuff? What are the positive effects of kitchens on GoPuff core product? What was the most recent disagreement the board has had when it comes to determining what to prioritize vs what not to? Mentioned in Today's GoPuff Episode: Raf's Mentor and Advisor: Emil Michael, Former Chief Business Officer @ Uber

The Health Technology Podcast
Nagraj Kashyap: Art, Not Science

The Health Technology Podcast

Play Episode Listen Later Oct 31, 2022 40:53


In the healthtech industry, we tend to be very science-oriented. But my guest today, Nagraj Kayshap, says the science of investing in healthtech companies is actually more of an art. it's contradictory. But if there's anyone qualified to say so, it's Nagraj. As managing partner at SoftBank, Nagraj decides what companies are best to form long-term investment relationships. So if you're an entrepreneur looking for investors, this episode is really for you. In this episode, we talk about what he looks for in a start-up, best pitching strategies, and the importance of community. Do you have any thoughts? Please email us at hello@rosenmaninstitute.org. We post new episodes every Monday. “The Health Technology Podcast” is produced by Herminio Neto, hosted by Christine Winoto, and engineered by Andrew John Rojek  

Micromobility
153: The Mega (and Profitable!) Micromobility Market of South Korea - the story of Swing with founder San Kim

Micromobility

Play Episode Listen Later Oct 25, 2022 63:17


This week Oliver interviews San Kim, founder and CEO of Swing Scooters, the largest shared micromobility operator in South Korea. South Korea is one of the worlds biggest shared micro markets and also one of the most underreported. This interview lifts the lid on the growth of the space and why the unique regulatory environment, high incomes, dense urban environment and other factors has contributed to one of the highest levels of penetration per capita for shared than anywhere else on the planet. In this great first exclusive interview with San, they unpack: The background of San at Softbank and auto companies and how that perspective gave him the idea for Swing How they got into the scooter game initially The South Korean landscape - players, regulations and other contributing factors How they've managed to build such a strong operational team and how that compares relative to other companies around the world How he's thinking about growing the company - focus on competition vs expansion How they've raised capital over time To learn more about San and Swing Scooters, visit his LinkedIn page. Catch us on Twitter @MicromobilityCo. Horace and Oliver are also active on their personal accounts and would love to hear from you. Our newsletter is completely free, and you can subscribe to have it in your inbox every Tuesday morning here! And for those who want more, we offer our Micromobility membership (mmm — “Triple M”) which includes exclusive content, swag, and conference discounts, as well as live calls with Horace and team! We're also on LinkedIn and Instagram.

Jim Hightower's Radio Lowdown
The Selfish Depravity of Hedge Fund “Journalism”

Jim Hightower's Radio Lowdown

Play Episode Listen Later Oct 20, 2022 2:10


Throughout the country, newspaper subscribers are asking questions like: Hey, who took my Saturday paper? What happened to those political cartoons and columns that I liked? Why does it take two days to get election results and sports scores? How did my local paper get filled with filler? Oh... and who doubled the price of the damn thing? The cause of all of the above is a Wall Street concept called “financialization” – a euphemism for corporate plundering. Multibillion-dollar hedge funds like SoftBank Group, Alden Global Capital, and Chatham Asset have bought up thousands of our dailies and weeklies. They extract enormous profits, not by making a better journalistic product for customers and the community, but by eliminating reporters, selling off each paper's real estate and assets, shriveling and standardizing content… and jacking up the paper's price. Like avaricious airlines, the profit strategy of these Wall Street newspapers is to monopolize the market, then charge more for less. But won't readers stop subscribing? Of course – they're leaving in droves, but hedge fund profiteers don't care, for their plan is to strip-mine the business of every dime it has, take the profits, and leave town. For example, SoftBank, the Japanese owner of the Gannett chain, has pillaged hundreds of our local papers, and it's now making another round of deep cuts in its newsrooms, including dumping some 800 more journalists. The financializer are also requiring other employees to take unpaid leave and are suspending payments to their pensions. SoftBank bosses simply said, “we need to ensure our balance sheet remains strong.” Sure, take care of Number One! But what about ensuring that local journalism remains strong, providing the information and connections that communities must have for strong democracies? But don't be silly – that's not part of the hedge fund business model.

Jim Hightower's Radio Lowdown
My Newspaper Died

Jim Hightower's Radio Lowdown

Play Episode Listen Later Oct 18, 2022 2:10


My newspaper died. Well, technically it still appears, but it has no life, no news, and barely a pulse. It's a mere semblance of a real paper, one of the hundreds of local journalism zombies staggering along in cities and towns that had long relied on them. Each one has a bare number of subscribers keeping it going, mostly longtime readers like me clinging to a memory of what used to be and a flickering hope that, surely, the thing won't get worse. Then it does. Our papers are getting worse (at a time we desperately need them to get better) because they are no longer mediums of journalism, civic purpose, and local identity. Rather, they've been reduced to little more than profit siphons, steadily piping local money to a handful of distant, high-finance syndicates that have bought out our hometown journals. My daily, the Austin American-Statesman, was swallowed up in 2019 by the nationwide Gannett chain, becoming one of more than 1,000 local papers Gannett presently mass produces under its corporate banner, “The USA Today Network.” But even that reference is a deception, for the publication doesn't confide to readers that it's actually a product of SoftBank Group, a multibillion-dollar Japanese financial consortium that owns and controls Gannett. SoftBank has no interest in Austin as a place, a community, or even as a newspaper market, nor does it care one whit about advancing the principles of journalism. It's in the profit business, extracting maximum short-term payouts from the properties it owns. This has rapidly become the standard business model for American newspapering. Today, more than half of all daily papers in America are in the grip of just 10 of these money syndicates. That's why our “local” papers are dying. It's not failure of journalism, but of absentee corporate owners plundering journalism.

The Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing
Abraham Shafi (IRL) - Building a community rather than an audience

The Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing

Play Episode Listen Later Oct 18, 2022 40:20


Our guest today is Abe Shafi, co-founder and CEO of IRL. IRL is Your group messaging app where you can Chat, create polls, post photos, and coordinate plans with your friends. We discuss: The founding story of IRL and the original thesis, growth, how they had to pivot their strategy during COVID, the approach to fundraising and where the company is currently at. Without further ado, here's Abe. We discuss: Why entrepreneurship? Why did you want to create a consumer company? What was the insight that led you to found IRL? What were people using at the time? What was the pain point you were initially trying to solve? What was your approach to UI and organizing communities on your product? How did you approach growth? What did success look like/what did you want a user to accomplish when they visited IRL? During COVID, how did you have to pivot? Despite the pivot, why do you think you became a unicorn in 2021 and raise money from Softbank? What happened from that moment to now where you had to lay off 25% of your staff? What's this change in market conditions been like for your company? With all of these transitions, what does community mean to you? How do you build community and what's different between a community and an audience? Seems like community has become one of the main themes of Web3. How do you position IRL in a Web3 world that has this promise for different revenue streams for creators? What is the future of rented platforms i.e. social media channels and channels you own i.e. email? Will these come together? How do you think about your own position at IRL? How do you think about this transition from Web2 to Web3? What's one book that inspired you personally and one book that inspired you professionally?Thích Nhất HạnhNo such thing as stability Hard Things About Things Netflix “No Rules The biggest piece of advice?

Bloomberg Businessweek
An Athleisure Brand That's Defying the Odds

Bloomberg Businessweek

Play Episode Listen Later Oct 11, 2022 35:08 Very Popular


Joe Kudla, Founder and CEO of Vuori, discusses the company's investment from Softbank and the brand's growth strategy. Bloomberg Businessweek Editor Joel Weber and Bloomberg Markets Magazine Editor Christine Harper discuss Paul Volcker's inflation fight. Jackie Davalos, Bloomberg Technology Reporter, talks about Uber and Lyft following the Department of Labor's latest gig-worker rules. And we Drive to the Close with Leuthold Group CIO, Doug Ramsey.  See omnystudio.com/listener for privacy information.

Things I Learned Last Night
Masayoshi Son - The Billionaire Founder Who Broke Records

Things I Learned Last Night

Play Episode Listen Later Oct 11, 2022 66:40


Year after year organizations like Forbes and Bloomberg put together lists of the world's richest people. Today names like Elon Musk and Jeff Bezos top the list. But in the late ‘90s, one man rose to prominence at lightning speed. What's more, he broke records that have yet to be broken to this day. Masayoshi Son grew his wealth after found his successful business Softbank. The company is a leader in investing to this day. He is most known for his off-the-wall personality and risky investment strategy. This is the fascinating story of one of the wildest investors in history. Things I Learned Last Night is an educational comedy podcast where best friends Jaron Myers and Tim Stone talk about random topics and have fun all along the way. If you like learning, and laughing a whole lot while you do, then you'll love TILLN. Watch or listen to this episode today! Become a Patron and Get Early Access to Ad-Free Episodes: https://www.patreon.com/tillnpodcast Episode Link: https://tilln.com/masa Want to Support TILLN: https://linktr.ee/tillnpodcast Text TILLN to 66866 to become a patron and gain access to ad-free episodes, the exclusive discord, and earn discounts on TILLN Merch. Advertise with us: https://bit.ly/3FdZirY

True Growth con Fernando Trueba
Llevando Compañía a los Adultos de la Tercera Edad - Alfredo Vaamonde (Papa)

True Growth con Fernando Trueba

Play Episode Listen Later Oct 4, 2022 60:15


Alfredo Vaamonde es el Co-fundador y COO de https://www.papa.com/ (Papa) – la startup que quiere resolver el problema de soledad a nivel mundial. La soledad no sólo tiene un efecto importante a nivel social y de salud mental, también es una de las principales causas de las enfermedades que sufren los adultos mayores. Alfredo y su socio Andrew Parker fundaron https://www.papa.com/ (Papa) en 2017 con la intención de proveer compañía y apoyo a los adultos mayores en Estados Unidos. Hoy, Papa está valuada en $1.4 B de USD y ha levantado más de $240M de USD de fondos como Softbank, Tiger Global,  Seven, Seven, Six, entre otros. Alfredo platica cómo identificaron el problema que los llevó a fundar Papa, cómo han crecido el negocio y cuáles son sus planes para llevar compañía “on demand” a todas las personas que la necesiten.

FactSet U.S. Daily Market Preview
Financial Market Preview - Friday 30-Sep

FactSet U.S. Daily Market Preview

Play Episode Listen Later Sep 30, 2022 5:19 Very Popular


US futures are indicating a higher open. European equity markets have opened higher, following lower Asian trade. Numerous headwinds continue to stalk markets. However we have seen possible signs that the UK government is starting to respond to the magnitude of the crisis, with Truss and Kwarteng to hold an emergency meeting with independent fiscal watchdog today, but they have pushed back against a U-turn on the proposed tax cut plans. Companies mentioned: Softbank, Ashton Martin, Geely, Puma, Adidas, Nike

This Week in Startups - Audio
Meta's text-to-video tool, Zuck's grand plan, Vision Fund to cut staff 30% + $WBD lawsuit | E1573

This Week in Startups - Audio

Play Episode Listen Later Sep 29, 2022 78:57 Very Popular


J+M discuss Meta's new text-to-video tool and what the future of creativity might look like (2:59), then they break down Zuck's grand plan (14:49) before discussing what a recession might mean for startups (27:18) and SoftBank reportedly cutting 30% of its Vision Fund staff. (36:41) (0:00) J+M intro today's segments! (2:59) Meta announces text-to-video tool (13:33) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist (14:49) Breaking down Zuckerberg's grand plan (21:58) Meta freezes hiring, signals that we've entered a recession (25:52) LinkedIn Marketing - Get a $100 LinkedIn ad credit at https://linkedin.com/thisweekinstartups (27:18) How a recession and big tech layoffs will impact startups (35:28) Odoo - Get your first app free and a $1000 credit at https://odoo.com/twist (36:41) SoftBank is reportedly planning to cut at least 30% of Vision Fund staff (41:29) Jason welcomes Lon Harris and the pair discuss HBO's House of the Dragon and its 10-year time jump (51:37) Warner Bros Discovery sued for allegedly misrepresenting HBO Max subscribers by 10M during the Discover / WarnerMedia merger (57:48) Favorite actors to watch doing anything, rockstars in today's world (1:03:03) CCP censors a popular film for its realistic depiction of rural life in China FOLLOW Lon: https://twitter.com/lons FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood Subscribe to our YouTube to watch all full episodes: https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A?sub_confirmation=1

Asian Hustle Network
Rebecca Liao // S2 Ep 189 // Co-Founder and CEO at Saga

Asian Hustle Network

Play Episode Listen Later Sep 24, 2022 53:50


Welcome back to Season 2, Episode 189 of the Asian Hustle Network Podcast! We are very excited to have Rebecca Liao on this week's show. Rebecca Liao is Co-Founder and CEO at Saga, a protocol for launching the next 1000 chains in the multiverse. The Saga platform allows developers to take a single tenant VM and automatically launch it on a dedicated blockchain, complete with fully provisioned validators and an optimally incentivized security structure. She is also a Co-Founder, Advisor and former COO at Skuchain, a currency agnostic blockchain for global trade and a World Economic Forum Tech Pioneer for 2019. In 2020, the World Trade Organization named Skuchain one of the top three blockchain companies in trade and supply chain finance. Under her leadership, Skuchain's platform grew to $5 billion+ in annual volume. She is currently Advisor to Sommelier Protocol, where she is designing their DAO to optimize for governance, platform growth & regulatory compliance. She is also a Fellow at the Stanford Program in Law, Science and Technology, where she produces and hosts the #global-public-policy podcast. She was a member of President Joe Biden's 2020 presidential campaign, advising on China, technology and Asia economic policy. She also served on Secretary Clinton's foreign policy team for her 2016 presidential campaign, responsible for Asia trade and economic policy. Prior to Skuchain, Rebecca was Director of Business Development and Head of Asia at Globality, Inc., a Softbank-backed B2B unicorn for AI-powered procurement of professional services. She began her career as an international corporate attorney at Skadden Arps Slate Meagher & Flom LLP and Fenwick & West LLP. She represented clients in Asia, North America and Europe across a variety of industries, including Internet, mobile, semiconductors, enterprise software, energy, advertising technology, consumer technology and finance. Her work focused on domestic and cross-border transactions, including mergers and acquisitions, joint ventures, private equity investments, venture financings, debt financings and public offerings of debt and equity. She also regularly advised public and private companies on corporate governance and securities law compliance. Rebecca is also a writer and China analyst. She regularly comments on China for Politico, Deutsche Welle and Channel NewsAsia and has also appeared on HuffPost Live and SiriusXM Radio. She is a contributing editor at SupChina. A graduate of Stanford University, where she studied Economics, and Harvard Law School, she serves on the Board of Advisors of the Center for a New American Security (CNAS) and is a Co-Chair of the Brookings Society. In the wake of rising anti-Asian hate, she co-founded, chairs and serves as an Executive Producer at The ACTION Project, a creative agency of Asian American Academy and Emmy Award-recognized creatives and leaders in entertainment, law, technology, business, education, and journalism leveraging our creative talent to shape the national narrative around our diverse community. She is also on the Board of Directors of Words Without Borders, Voices of Music and the Wagner Society of Northern California. She is also a member of the National Committee on US-China Relations. Rebecca is a jazz and opera singer and tweets at @beccaliao. If you're a small business owner, we highly recommend you take advantage of this offer. Comcast RISE is an initiative designed to help strengthen AAPI small businesses owners that have been hit the hardest by the economic impact of the pandemic. Comcast RISE aims to create sustainable impact and give meaningful support to the small businesses with FREE services. Head to https://bit.ly/RISE22Q3_Podcast_AHN to apply today! --- Support this podcast: https://anchor.fm/asianhustlenetwork/support