On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>John Vrionis</li> <li>David Horowitz</li> <li>Cyan Banister</li> </ul> Each investor discusses a portfolio company that did not survive and why it was that they failed. To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: John Vrionis David Horowitz Cyan Banister Each investor discusses a portfolio company that did not survive and why it was that they failed. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans

Investor Stories 134: Post Mortems (Vrionis, Horowitz, Banister)

Ryan Gembala of Pathbreaker Ventures joins Nick to discuss Breaking Convention, Hitting The Fundraise Wall & Why Deep-tech Is Not More Capital Intensive Than Software. In this episode, we cover: <ul> <li>Backstory/Path to Venture</li> <li>Talk about your time at Facebook and working in M&A.</li> <li>What's the thesis at Pathbreaker?</li> <li>How do you define pre-seed?</li> <li>Most of your dealflow inbound or outbound?</li> <li>Quote from the website: "We don't believe all great companies, nor all phenomenal investments, look the same early on. So we are flexible, realistic, and patient - solving for supporting the founders best-suited for tackling the most meaningful problems." I'm curious, what are the must-haves that cut across all investments that you do?  </li> <li>You've said to me that hardware isn't more capital intensive than software. As a hardware investor myself, that was refreshing to hear but I'm sure there are many founders and investors that would strongly disagree. Why is not more capital intensive?</li> <li>Do you think the time horizon to exit is longer?</li> <li>We've all been in this situation where founders hit a wall — they're running out of money, having a hard time telling your story, investors aren't pulling the trigger to invest, there are team challenges, maybe trouble converting from pilots to licenses... Give us examples of how you dig in and help when it gets tough.</li> <li>We've seen some recent failures or, at least, setbacks in the automation/robotics space. High profile companies like Zume pizza and CafeX have had significant challenges... what's your take on where these companies went wrong?</li> <li>What's your POV on robotics investing and the types of opportunities that are going to be successful?</li> <li>Just speaking to Kane Hsieh at Root about the effect of automation, robotics on jobs... what's your stance on the impact of these technologies on employment?</li> <li>You've had a number of Series A's just here in the past couple of weeks... seems like every time we connect you are dealing w/ a number of up-rounds at A and B. Clearly something is working so congrats on the early success. Talk to me a bit about how hard it is to raise a Series A?</li> <li>Different types of companies have to achieve different milestones/benchmarks to raise and A but have you seen any common traction levels or standards to successfully close an A round?</li> <li>For founders that are considering M&A and maybe some options are emerging for exit... what advice would you have?</li> </ul> To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

Ryan Gembala of Pathbreaker Ventures joins Nick to discuss Breaking Convention, Hitting The Fundraise Wall & Why Deep-tech Is Not More Capital Intensive Than Software. In this episode, we cover: Backstory/Path to Venture Talk about your time at Facebook and working in M&A. What's the thesis at Pathbreaker? How do you define pre-seed? Most of your dealflow inbound or outbound? Quote from the website: "We don't believe all great companies, nor all phenomenal investments, look the same early on. So we are flexible, realistic, and patient - solving for supporting the founders best-suited for tackling the most meaningful problems." I'm curious, what are the must-haves that cut across all investments that you do?   You've said to me that hardware isn't more capital intensive than software. As a hardware investor myself, that was refreshing to hear but I'm sure there are many founders and investors that would strongly disagree. Why is not more capital intensive? Do you think the time horizon to exit is longer? We've all been in this situation where founders hit a wall — they're running out of money, having a hard time telling your story, investors aren't pulling the trigger to invest, there are team challenges, maybe trouble converting from pilots to licenses... Give us examples of how you dig in and help when it gets tough. We've seen some recent failures or, at least, setbacks in the automation/robotics space. High profile companies like Zume pizza and CafeX have had significant challenges... what's your take on where these companies went wrong? What's your POV on robotics investing and the types of opportunities that are going to be successful? Just speaking to Kane Hsieh at Root about the effect of automation, robotics on jobs... what's your stance on the impact of these technologies on employment? You've had a number of Series A's just here in the past couple of weeks... seems like every time we connect you are dealing w/ a number of up-rounds at A and B. Clearly something is working so congrats on the early success. Talk to me a bit about how hard it is to raise a Series A? Different types of companies have to achieve different milestones/benchmarks to raise and A but have you seen any common traction levels or standards to successfully close an A round? For founders that are considering M&A and maybe some options are emerging for exit... what advice would you have? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

207. Breaking Convention, Hitting The Fundraise Wall & Why Deep-tech Is Not More Capital Intensive Than Software (Ryan Gembala)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>Jeremy Neilson</li> <li>Jason Whitney</li> <li>Jenny Rooke</li> </ul> Each investor describes the most unusual situation or pitch that they've encountered as an investor. To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: Jeremy Neilson Jason Whitney Jenny Rooke Each investor describes the most unusual situation or pitch that they've encountered as an investor. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 133: Strange & Unusual (Neilson, Whitney, Rooke)

Alex Osterwalder of Strategyzer joins Nick to discuss The Ultimate Testing Framework. In this episode, we cover: <ul> <li>Take me back and talk through the origin of the business model canvas?</li> <li>Just to refresh listeners can you provide a high-level overview of the business model canvas and how it's used?</li> <li>Let's chat about your new book, Testing Business Ideas, co-authored with David J. Bland... Why'd you right the book?</li> <li>Who is the target audience?</li> <li>If I'm the reader, what outcome can I achieve after reading this book and applying it's principles?</li> <li>What are the four phases outlined in the book?</li> <li>Walk us through the objective and key elements of the testing phase.</li> <li>A significant focus is the elimination of risks?  How does one systematically reduce or remove risks from their business?</li> <li>We recently had Leo Polovets on the program and discussed the challenge of balancing testing with executing.  I think it can be difficult to know when something is working well enough that you should stop testing and move forward quickly in that direction.  What's your guidance here?</li> <li>How does one avoid getting too caught up in rigid frameworks and checking boxes vs. finding that key insight that warrants 90+% of their attention?</li> </ul> To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

Alex Osterwalder of Strategyzer joins Nick to discuss The Ultimate Testing Framework. In this episode, we cover: Take me back and talk through the origin of the business model canvas? Just to refresh listeners can you provide a high-level overview of the business model canvas and how it's used? Let's chat about your new book, Testing Business Ideas, co-authored with David J. Bland... Why'd you right the book? Who is the target audience? If I'm the reader, what outcome can I achieve after reading this book and applying it's principles? What are the four phases outlined in the book? Walk us through the objective and key elements of the testing phase. A significant focus is the elimination of risks?  How does one systematically reduce or remove risks from their business? We recently had Leo Polovets on the program and discussed the challenge of balancing testing with executing.  I think it can be difficult to know when something is working well enough that you should stop testing and move forward quickly in that direction.  What's your guidance here? How does one avoid getting too caught up in rigid frameworks and checking boxes vs. finding that key insight that warrants 90+% of their attention? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

206. The Ultimate Testing Framework (Alex Osterwalder)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>Scott Dorsey</li> <li>Jeff Clavier</li> <li>John Fein</li> </ul> Each investor illustrates a critical lesson learned about startup investing and how it's changed their approach. To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: Scott Dorsey Jeff Clavier John Fein Each investor illustrates a critical lesson learned about startup investing and how it's changed their approach. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 132: Lessons Learned (Dorsey, Clavier, Fein)

Jason Calacanis joins Nick to discuss Unicorn vs Pegasus, The Softbank Effect, & Impacts of a Recession on VC. In this episode, we cover: <ul> <li>Last time we had you on the show was July 2017. What big things have happened over the past (almost) three years with yourself and Launch?</li> <li>Last time you talked a bit about the "Goldilocks zone"... sort of that post-seed, pre-A round. Is that still the stage getting most focus from you?</li> <li>I read an article where you suggested that SoftBank is changing the way Silicon Valley thinks about going public.</li> <li>What are the biggest positive effects you've seen from the Vision Fund?</li> <li>What about negatives and adverse effects?</li> <li>The volume of startups seems to be ever increasing... Any advice for founders on how to stand out?</li> <li>Lots of people talking about an upcoming recession in 2020. If a recession were to hit, what happens to venture? How do you think it could potentially impact startups as well as investors or VCs?</li> <li>How does your investment strategy change in a recession?</li> <li>Anything founders should should do to prepare for a correction?</li> <li>As part of the fallout from WeWork... I've been hearing a lot of VCs talk about a shift from growth at all costs to a focus on profitability. Are these empty words or are you seeing a material change amongst VCs?</li> <li>Want to get your input on investment and selection...</li> <li>First off, in the book, if memory serves, you suggest angels should focus exclusively on SF-based startups and founders should relocate to SF. We recently committed to a Launch Accelerator company that is not in SF, they're in Chicago. Have your thoughts changed on location?</li> <li>What is a unique requirement or heuristic you use that you don't think other investors consider?</li> <li>What are your biggest red flags or dealbreakers?</li> <li>What are some acceptable risks or issues vs. what's not acceptable?</li> <li>I notice you talking about Pegasus startups (vs. Unicorns). What the heck is a Pegasus?</li> <li>What tips do you have for founders to reach the Unicorn as well as Pegasus status?</li> <li>You also talk about the “Dark Pegasus” can you give us some insight into what that entails and how to avoid these startups as an investor?</li> </ul>   To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

Jason Calacanis joins Nick to discuss Unicorn vs Pegasus, The Softbank Effect, & Impacts of a Recession on VC. In this episode, we cover: Last time we had you on the show was July 2017. What big things have happened over the past (almost) three years with yourself and Launch? Last time you talked a bit about the "Goldilocks zone"... sort of that post-seed, pre-A round. Is that still the stage getting most focus from you? I read an article where you suggested that SoftBank is changing the way Silicon Valley thinks about going public. What are the biggest positive effects you've seen from the Vision Fund? What about negatives and adverse effects? The volume of startups seems to be ever increasing... Any advice for founders on how to stand out? Lots of people talking about an upcoming recession in 2020. If a recession were to hit, what happens to venture? How do you think it could potentially impact startups as well as investors or VCs? How does your investment strategy change in a recession? Anything founders should should do to prepare for a correction? As part of the fallout from WeWork... I've been hearing a lot of VCs talk about a shift from growth at all costs to a focus on profitability. Are these empty words or are you seeing a material change amongst VCs? Want to get your input on investment and selection... First off, in the book, if memory serves, you suggest angels should focus exclusively on SF-based startups and founders should relocate to SF. We recently committed to a Launch Accelerator company that is not in SF, they're in Chicago. Have your thoughts changed on location? What is a unique requirement or heuristic you use that you don't think other investors consider? What are your biggest red flags or dealbreakers? What are some acceptable risks or issues vs. what's not acceptable? I notice you talking about Pegasus startups (vs. Unicorns). What the heck is a Pegasus? What tips do you have for founders to reach the Unicorn as well as Pegasus status? You also talk about the “Dark Pegasus” can you give us some insight into what that entails and how to avoid these startups as an investor?   To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

205. Unicorn vs Pegasus, The Softbank Effect, & Impacts of a Recession on VC (Jason Calacanis)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>Scott Kupor</li> <li>Michael Cardamone</li> <li>M.G. Siegler</li> </ul> Each investor discusses sectors, drivers and/or trends that may have a significant impact in the future and are potentially positioned for outsized-returns.   To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: Scott Kupor Michael Cardamone M.G. Siegler Each investor discusses sectors, drivers and/or trends that may have a significant impact in the future and are potentially positioned for outsized-returns.   To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 131: What's Next (Kupor, Cardamone, Siegler)

Minnie Ingersoll of TenOneTen Ventures joins Nick to discuss Embracing Failure, Capitalizing on Crisis & Building Resilience. In this episode, we cover: <ul> <li>Backstory/path to Venture</li> <li>You co-founded Shift, which you scaled to $100M. What was the most unexpected/surprising aspect of leading and scaling a venture-backed startup?</li> <li>Where did you spend most of your time (and mindshare) at A vs. B vs. C/D?</li> <li>What was it like building a venture-backed startup as a woman?</li> <li>Tell us a bit about the thesis at TenOneTen.</li> <li>I was recently speaking with M.G. Siegler about the societal impacts of tech... all of which are not positive.  I know you're a mother, so this probably takes on new meaning for you... but how to you consider social and societal responsibility in your role as a tech investor?</li> <li>You've experienced early struggles in your life that have informed your approach as an investor and founder.  Can you talk about what you've been through, the impact and the perspective you've gained from it?</li> <li>Is failure acceptable?  As an investor failure makes me really uneasy and I've not had to deal with this yet with a portfolio company but I'm sure it's just a matter of time.  What's your stance on failure and how to speak with founders about it?</li> <li>You've spoken about the importance of founder resilience... Is it something you select for in investments or something you work on with existing portco founders... trying to help them build resilience?</li> <li>How are the challenges for women similar different as a founder vs. investor?</li> <li>Favorite Podcast guest?</li> <li>Best/favorite low profile investor in LA?</li> </ul> To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

Minnie Ingersoll of TenOneTen Ventures joins Nick to discuss Embracing Failure, Capitalizing on Crisis & Building Resilience. In this episode, we cover: Backstory/path to Venture You co-founded Shift, which you scaled to $100M. What was the most unexpected/surprising aspect of leading and scaling a venture-backed startup? Where did you spend most of your time (and mindshare) at A vs. B vs. C/D? What was it like building a venture-backed startup as a woman? Tell us a bit about the thesis at TenOneTen. I was recently speaking with M.G. Siegler about the societal impacts of tech... all of which are not positive.  I know you're a mother, so this probably takes on new meaning for you... but how to you consider social and societal responsibility in your role as a tech investor? You've experienced early struggles in your life that have informed your approach as an investor and founder.  Can you talk about what you've been through, the impact and the perspective you've gained from it? Is failure acceptable?  As an investor failure makes me really uneasy and I've not had to deal with this yet with a portfolio company but I'm sure it's just a matter of time.  What's your stance on failure and how to speak with founders about it? You've spoken about the importance of founder resilience... Is it something you select for in investments or something you work on with existing portco founders... trying to help them build resilience? How are the challenges for women similar different as a founder vs. investor? Favorite Podcast guest? Best/favorite low profile investor in LA? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

204. Embracing Failure, Capitalizing on Crisis & Building Resilience (Minnie Ingersoll)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>Jim Kim</li> <li>Courtney Reum</li> <li>Aydin Senkut</li> </ul> Each investor highlights a situation where they decided not to invest, why they passed, and how it played out.   To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet%20">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: Jim Kim Courtney Reum Aydin Senkut Each investor highlights a situation where they decided not to invest, why they passed, and how it played out.   To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 130: Why I Passed (Kim, Reum, Senkut)

Leo Polovets of Susa Ventures joins Nick to discuss Raising Fund III, A Framework to De-risk Your Startup, & When to Explore vs. Exploit. In this episode, we cover: <ul> <li>Give us an update on your investments at Susa since we last chatted?</li> <li>How has the thesis at Susa evolved over the past couple of years?</li> <li>Do each of the GPs at Susa have specialty areas of focus?</li> <li>This year Susa closed on 2 new funds - Susa III a $90M early stage fund, along with your first opportunity fund to which investors committed $50M. What was the elevator pitch to LPs and what worked well in the first two funds that resonated with LPs, leading to the successful raise?</li> <li>What would you have done differently in Fund I and Fund II if you could go back?</li> <li>What it takes to raise a Series A... often founders will have a singular focus on the vanity metrics -- they assume if they hit $2M in ARR they'll attract the A round at an attractive multiple from Tier 1 investors. But, we've seen this play out and it's not all that's required. Why is a singular focus on ARR a poor approach to raising money?</li> <li>Leo, you have an original framework here focused on de-risking the the major risks centers facing a startup. What are the high-level principles?</li> <li>The 9 risk centers that you've identified include Product Market Fit, Product Quality, Team, Recruiting, Sales, Market, Funding, Short-term Competition, and Long-term Competition -- can you pick one of these areas and walk us through an example?</li> <li>What are the common mistakes founding teams make with regard to these risks?</li> <li>Talk a bit about the balance between testing and execution? </li> <li>How should founders balance figuring out the best path forward with running fast in the direction they think is best?</li> <li>Increasingly our founders have been sending us dealflow, operating as scouts, making angel investments in early stage companies. Where do you stand on this -- distraction that should be avoided or net benefit to those involved?</li> <li>In what ways have you changed most as an investor since the early days?</li> <li>One piece of advice for founders -- what is it?</li> </ul>   To listen more, please visit <a href= "To%20listen%20more,%20please%20visit%20http:/fullratchet.net/podcast-episodes/%20%20for%20all%20of%20our%20other%20episodes.%20%20%20%20%20Also,%20follow%20us%20on%20twitter%20@TheFullRatchet%20for%20updates%20and%20more%20information.">http://fullratchet.net/podcast-episodes/</a>  for all of our other episodes. Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet">@TheFullRatchet </a>for updates and more information.

Leo Polovets of Susa Ventures joins Nick to discuss Raising Fund III, A Framework to De-risk Your Startup, & When to Explore vs. Exploit. In this episode, we cover: Give us an update on your investments at Susa since we last chatted? How has the thesis at Susa evolved over the past couple of years? Do each of the GPs at Susa have specialty areas of focus? This year Susa closed on 2 new funds - Susa III a $90M early stage fund, along with your first opportunity fund to which investors committed $50M. What was the elevator pitch to LPs and what worked well in the first two funds that resonated with LPs, leading to the successful raise? What would you have done differently in Fund I and Fund II if you could go back? What it takes to raise a Series A... often founders will have a singular focus on the vanity metrics -- they assume if they hit $2M in ARR they'll attract the A round at an attractive multiple from Tier 1 investors. But, we've seen this play out and it's not all that's required. Why is a singular focus on ARR a poor approach to raising money? Leo, you have an original framework here focused on de-risking the the major risks centers facing a startup. What are the high-level principles? The 9 risk centers that you've identified include Product Market Fit, Product Quality, Team, Recruiting, Sales, Market, Funding, Short-term Competition, and Long-term Competition -- can you pick one of these areas and walk us through an example? What are the common mistakes founding teams make with regard to these risks? Talk a bit about the balance between testing and execution?  How should founders balance figuring out the best path forward with running fast in the direction they think is best? Increasingly our founders have been sending us dealflow, operating as scouts, making angel investments in early stage companies. Where do you stand on this -- distraction that should be avoided or net benefit to those involved? In what ways have you changed most as an investor since the early days? One piece of advice for founders -- what is it?   To listen more, please visit http://fullratchet.net/podcast-episodes/  for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

203. Raising Fund III, A Framework to De-risk Your Startup, & When to Explore vs. Exploit (Leo Polovets)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>Adeyemi Ajao</li> <li>Ash Rust</li> <li>SC Moatti</li> </ul> Each investor discusses a portfolio company that did not survive and why it was that they failed. To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "../../../content/%20https:/twitter.com/TheFullRatchet">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: Adeyemi Ajao Ash Rust SC Moatti Each investor discusses a portfolio company that did not survive and why it was that they failed. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 129: Post Mortems (Ajao, Rust, Moatti)

Welcome back to TFR for another Cram Session. In these special releases, we have aggregated the takeaways and tips from previous episodes. In this installment, we will be recapping the following episodes:   <ul> <li><a href= "https://fullratchet.net/138-how-to-angel-invest-like-the-best-part-1-jason-calacanis/"> 138. How to Angel Invest Like the Best, Part 1 (Jason Calacanis)</a></li> <li><a href= "https://fullratchet.net/139-how-to-angel-invest-like-the-best-part-2-jason-calacanis/"> 139. How to Angel Invest like the Best, Part 2 (Jason Calacanis)</a></li> <li><a href= "https://fullratchet.net/142-beacon-an-engineering-systems-approach-to-investing-part-1-chris-farmer/"> 142. Beacon: An Engineering Systems Approach to Investing, Part 1 (Chris Farmer)</a></li> <li><a href= "https://fullratchet.net/143-beacon-modernizing-the-vc-firm-part-2-chris-farmer/"> 143. Beacon: Modernizing the VC Firm, Part 2 (Chris Farmer)</a></li> </ul>   To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/  </a>for all of our other episodes.   Also, follow us on twitter <a href= "https://twitter.com/TheFullRatchet">@TheFullRatchet</a> for updates and more information.

Welcome back to TFR for another Cram Session. In these special releases, we have aggregated the takeaways and tips from previous episodes. In this installment, we will be recapping the following episodes:   138. How to Angel Invest Like the Best, Part 1 (Jason Calacanis) 139. How to Angel Invest like the Best, Part 2 (Jason Calacanis) 142. Beacon: An Engineering Systems Approach to Investing, Part 1 (Chris Farmer) 143. Beacon: Modernizing the VC Firm, Part 2 (Chris Farmer)   To listen more, please visit http://fullratchet.net/podcast-episodes/  for all of our other episodes.   Also, follow us on twitter @TheFullRatchet for updates and more information.

202. Cram Session, Episodes 138-143 (Nick Moran)

Mark Suster of Upfront Ventures joins Nick to discuss Economic Theory in Venture Capital. In this episode, we cover: <ul> <li>You’ve written about a major lesson from Clayton Christensen’s book, the Innovator’s Dilemma, which was one of ‘deflationary economics.’ Can describe what this means and why it should be a focus for startups?</li> <li>In light of deflationary economics, what are the key questions that a founder should ask him/herself about the business?</li> <li>Why is it that incumbents have such a hard time responding to startups w/ this approach?</li> <li>What should new market entrants focus on when it comes to price vs. functionality?</li> <li>At a high-level what are your thoughts on the trade-offs between growth and profitability?</li> <li>What are your impressions of what Bryce Roberts is doing at Indie VC?</li> <li>How have your thoughts on investment psychology and economics been influenced by The Black Swan by Nassim Taleb?</li> <li>What other principles of economics, that we haven’t touched on, have informed your investment philosophy?</li> <li>In light of today’s topics, what are the key things you’re looking for in startups?</li> <li>Can you talk about Defy Ventures and your experience visiting California State Prison and the impact that Defy is having?</li> </ul> To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "../../../content/%20https:/twitter.com/TheFullRatchet">@TheFullRatchet </a>for updates and more information.

Mark Suster of Upfront Ventures joins Nick to discuss Economic Theory in Venture Capital. In this episode, we cover: You’ve written about a major lesson from Clayton Christensen’s book, the Innovator’s Dilemma, which was one of ‘deflationary economics.’ Can describe what this means and why it should be a focus for startups? In light of deflationary economics, what are the key questions that a founder should ask him/herself about the business? Why is it that incumbents have such a hard time responding to startups w/ this approach? What should new market entrants focus on when it comes to price vs. functionality? At a high-level what are your thoughts on the trade-offs between growth and profitability? What are your impressions of what Bryce Roberts is doing at Indie VC? How have your thoughts on investment psychology and economics been influenced by The Black Swan by Nassim Taleb? What other principles of economics, that we haven’t touched on, have informed your investment philosophy? In light of today’s topics, what are the key things you’re looking for in startups? Can you talk about Defy Ventures and your experience visiting California State Prison and the impact that Defy is having? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

201. [REPLAY] Economic Theory in Venture Capital (Mark Suster)

On this special segment of The Full Ratchet, the following Investors are featured: <ul> <li>John Vrionis</li> <li>Bradley Tusk</li> <li>Oren Klaff</li> </ul> Each investor describes the most unusual situation or pitch that they've encountered as an investor. To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/</a> for all of our other episodes. Also, follow us on twitter <a href= "../../../content/%20https:/twitter.com/TheFullRatchet">@TheFullRatchet</a> for updates and more information.

On this special segment of The Full Ratchet, the following Investors are featured: John Vrionis Bradley Tusk Oren Klaff Each investor describes the most unusual situation or pitch that they've encountered as an investor. To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

Investor Stories 128: Strange & Unusual (Vrionis, Tusk, Klaff)

Jason Whitney of IU Ventures joins Nick to discuss University-Affiliated Funds & Angel Networks. In this episode, we cover: <ul> <li>Backstory/path to venture</li> <li>At IU you have 3 core initiatives - The Quarry, IU Venture Fund and the IU Angel Network. What's the focus of each?</li> <li>Talk about the investment focus for the IU Philanthropic Fund.</li> <li>What're the criteria to be eligible for funding?</li> <li>How does IU Ventures support the University's mission? How does it affect or benefit current students?  </li> <li>As a broader goal, I know the organization ultimately hopes to entice investors and entrepreneurs from around the country to return to Indiana as a result of participating in the network. Are you measuring this and are your efforts working thus far?</li> <li>So, a criticism of both university venture funds and angel groups is speed -- traditional angel groups and academia move slowly with investment decisions.  How do you combat that issue for founders raising on a tight timeline, trying to close a round?</li> <li>I was speaking with a university-affiliated investor just last week and he was saying, there's just not enough deal flow when you restrict investments to companies that have a specific university affiliation... do you agree/disagree?</li> <li>I've heard from a number of the Alumni Ventures Groups in recent years  -- there are folks leading funds and angel groups with alumni from a particular university... are you a part of this effort and what's your impression of the Alumni Ventures Groups?</li> <li>Let's talk more about the IU Angel Network. How do you go about becoming a member? What do you gain access to as a member?</li> <li>Aside from the university affiliation, which is appealing to many, what advantages and points of differentiation does IU Angels have vs. other angel groups?</li> <li>For the founders out there... why should they fight to get IU Ventures and/or IU Angels on their cap table -- how specifically are you driving success beyond that of other investors?</li> <li>Advice for investors?</li> </ul> To listen more, please visit <a href= "http://fullratchet.net/podcast-episodes/">http://fullratchet.net/podcast-episodes/ </a>for all of our other episodes. Also, follow us on twitter <a href= "../../../content/%20https:/twitter.com/TheFullRatchet">@TheFullRatchet</a> for updates and more information.

Jason Whitney of IU Ventures joins Nick to discuss University-Affiliated Funds & Angel Networks. In this episode, we cover: Backstory/path to venture At IU you have 3 core initiatives - The Quarry, IU Venture Fund and the IU Angel Network. What's the focus of each? Talk about the investment focus for the IU Philanthropic Fund. What're the criteria to be eligible for funding? How does IU Ventures support the University's mission? How does it affect or benefit current students?   As a broader goal, I know the organization ultimately hopes to entice investors and entrepreneurs from around the country to return to Indiana as a result of participating in the network. Are you measuring this and are your efforts working thus far? So, a criticism of both university venture funds and angel groups is speed -- traditional angel groups and academia move slowly with investment decisions.  How do you combat that issue for founders raising on a tight timeline, trying to close a round? I was speaking with a university-affiliated investor just last week and he was saying, there's just not enough deal flow when you restrict investments to companies that have a specific university affiliation... do you agree/disagree? I've heard from a number of the Alumni Ventures Groups in recent years  -- there are folks leading funds and angel groups with alumni from a particular university... are you a part of this effort and what's your impression of the Alumni Ventures Groups? Let's talk more about the IU Angel Network. How do you go about becoming a member? What do you gain access to as a member? Aside from the university affiliation, which is appealing to many, what advantages and points of differentiation does IU Angels have vs. other angel groups? For the founders out there... why should they fight to get IU Ventures and/or IU Angels on their cap table -- how specifically are you driving success beyond that of other investors? Advice for investors? To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.

200. University-Affiliated Funds & Angel Networks (Jason Whitney)

A podcast dedicated to demystifying Venture Capital. Nick Moran interviews the VC and Angel investor experts on how they find, evaluate and select the next generation of great technology startups.

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