In this episode, we discuss current fundraising trends, the importance of sustainable business models, and key attributes of fundable startups, offering advice on how to navigate the venture capital landscape.
(00:00:00) - An email firing
(00:01:29) - Podcast introduction
(00:01:51) - Icebreaker: Who's more likely?
(00:02:21) - Investing in a terrible idea
(00:02:54) - Pitching an existing startup idea
(00:03:29) - Ignoring Excel for gut decisions
(00:03:56) - Starting and exiting a billion-dollar company
(00:06:13) - Launching a startup without validation
(00:06:54) - Firing someone via email
(00:07:59) - Meeting with an investor just because they're famous
(00:09:19) - Making more pivots in a startup
(00:10:13) - Running a company that burns $10 million before making $1 of revenue
(00:10:55) - Google stories
(00:12:48) - Fundraising as a hot topic
(00:14:13) - Raising money doesn't solve all your problems
(00:16:09) - Diving into fundraising
(00:16:39) - Forbes article: Why 2025 Looks Like a Big Year for Venture Capital
(00:17:51) - Startup Ignition Ventures' thesis on building in venture
(00:19:45) - Feedback on sustainable business models
(00:20:37) - The father of lean startup, Steve Blank
(00:21:39) - When to sell assets built up in venture
(00:22:47) - Wall Street Journal article: Venture Capital needs a new math
(00:23:45) - Funding a company that became a billion dollar unicorn
(00:24:08) - High valuation early on in your startup
(00:25:40) - Numbers and examples of high valuation
(00:27:26) - $30 million valuation warrants some form of revenue
(00:28:45) - Fundraise the capital that you actually truly need
(00:29:15) - The cycle of trough and the valley
(00:30:05) - Analyzing a deal
(00:31:21) - What we look for
(00:32:24) - Aspects and attributes of a fundable project
(00:32:59) - SaaS business
(00:33:14) - The founder
(00:33:28) - Primary, secondary and tertiary founders
(00:34:13) - Detail oriented, passionate, thorough, thoughtful
(00:35:32) - Industry experience
(00:36:22) - Coachable, resourceful, adaptable, smart
(00:36:35) - Market opportunity
(00:37:19) - Total addressable market
(00:37:45) - Timing of the opportunity
(00:38:23) - Business model
(00:38:34) - Revenue potential
(00:39:40) - Traction and validation
(00:41:31) - Monthly recurring revenue
(00:42:07) - Wasted energy, resources, time and money around building startups
(00:43:32) - Societal benefit
(00:44:14) - Lean Startup
(00:46:05) - Attributes that we look for in an investable project
(00:47:09) - Scalable companies
(00:48:06) - Online community questions
(00:48:32) - Taking money from an investor you don't fully trust
(00:51:55) - Investing in a great team with a bad idea or a bad team with a great idea
(00:52:23) - Mistakes founders make in a pitch meeting
(00:55:13) - Meeting investors without warm intros
(00:57:23) - Networking and referrals
(00:58:46) - The importance of universities
(01:00:07) - Investors are changing their strategy
(01:00:47) - Thank you and goodbye
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