The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified 446. Why Fewer is Better; Pursuing a Frictionless World, The Value in Reframing Everything (Phin Upham)
8 snips
Aug 12, 2024 Phin Upham, a venture capitalist at Haymaker Ventures, dives into the evolving landscape of startup investing. He discusses the challenges faced by venture capitalists in a rapidly institutionalizing industry and the necessity for fresh growth strategies in tight capital environments. Upham highlights the complexities of open banking in the U.S. and the significance of trust in business dynamics. He also explores how AI is revolutionizing fintech by turning challenges into opportunities, advocating for personalized solutions and a more efficient decision-making process.
AI Snips
Chapters
Transcript
Episode notes
Tovala's Success Story
- David Rabi's Tovala meal kit company achieved profitability and nine-figure revenue.
- They secured a major retail partnership with Costco, proving doubters wrong.
FinTech's Rise
- FinTech's transformation from a niche sector to mainstream after the 2008 financial crisis.
- The crisis created opportunities for startups to replace traditional financial services.
Re-Underwriting Follow-Ons
- Re-underwrite follow-on investments like initial checks, treating them as new opportunities.
- Don't reserve capital; invest when it's the best option available, regardless of prior involvement.