Fascinating story of two founders who burn through five million dollars to keep their company alive. They meet with 50 investors, but no one wants to invest in them. One angel says he'll buy 20 percent for the same amount they put in. The play is the new shares you get at this lower price and if you don't, you get penalized.
Welcome to Sunday! First up, J+M cover different methods and classifications for dealing with failing startups. (2:01) Then, Molly interviews Team Wildfire CEO Steve Wolf about his "Hurricane-as-a-Service" business! (31:56)
(0:00) J+M tee up today's segments!
(2:01) VC Sunday School: J+M discuss hospice care for startups
(10:50) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist
(11:58) VC fund dynamics with Zombie startups, Jason explains "pay to play"
(25:32) Spokn - Get 3 months free at https://getspokn.com/twist
(27:03) J+M tee up this week's climate interview!
(31:56) Steve Wolf explains his jet engine powered fire-fighting device
(37:21) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist
(38:55) Steve breaks down the business side of Team Wildfire, "Hurricanes-as-a-Service", and more!
(55:32) Molly gets a virtual tour of the "Hurricane on wheels"
Check out Team Wildfire: https://www.teamwildfire.com
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood