Sunday VC School: how investors work together + Prime Movers Lab's Ramez Naam | E1367

Jan 23, 2022

Ramez Naam, Chief Futurist at Prime Movers Lab and science fiction author, joins to discuss the evolving landscape of climate tech investments. He highlights the declining costs of renewable energy and the balance between enhancing existing technologies and creating new solutions. The conversation dives into how science fiction can shape investment strategies, illustrating the synergy between innovative storytelling and forward-thinking investments. Additionally, Jason shares insights on investor collaboration and strategies to optimize fundraising for founders.

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INSIGHT

Milestone-Based Funding

Silicon Valley's milestone-based funding system filters founders, ideas, and timing.
Each milestone decreases the chances of failure, as the company proves its viability.

ADVICE

Co-investment Strategy

Seek co-investors to validate your startup's potential and share the risk.
However, be aware of potential ownership dilution as more investors join.

INSIGHT

Investment Strategies

Early-stage co-investing resembles diversified betting, spreading risk across multiple ventures.
Later-stage investing becomes more concentrated as winners emerge.

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First, Jason teaches Sunday VC School: how investors work together (01:54). In this segment you will learn.:

How collaboration varies across investing stages.
How lead investors are determined and what their responsibilities are.
The strategies you can use to win deals (Jason explains the pitch he gives to founders with options).
The warning signs to watch for when working with other investors.
Tactics founders can use for lower-friction fundraising.

Then, Molly chats with Ramez Naam from Prime Movers Lab in a This Week in Climate Startups segment (35:10). They discuss the declining costs of renewable energy, making the choice between advancing existing technologies and inventing new ones, how science fiction can make you a better investor and more.

(00:00) Jason and Molly introduce the show
(01:54) Sunday VC School - how investors work together
(06:53) How collaboration varies across investing stages
(08:43) Odoo - Get your first app free and a $1000 credit at https://odoo.com/twist
(09:49) Why seeing other late stage investors be passive in a deal is a warning sign
(11:20) How raising from more investors can be actually be easier than raising from a few
(15:44) Lead investor responsibilities
(20:09) Fellow - Sign up and get $1000 in credits at https://fellow.app/twist
(21:38) How VCs can win over founders
(26:44) Do VCs get offended by what order they get into a startup?
(29:16) Will investors still invest if the founder picked another VCs term sheet?
(31:33) Molly and Jason introduce the next segment
(33:25) Revelo - Get 20% off the first 3 months by mentioning TWIST at https://revelo.io/twist
(35:10) This Week in Climate Startups - Ramez Naam
(37:55) Advancing existing technologies vs. inventing new ones
(42:19) Early stage climate investing
(46:43) The declining costs of renewable energy
(52:52) Confronting climate tech skeptics
(57:06) How writing science fiction impacts Ramez's investing

Check out Prime Movers Lab: https://www.primemoverslab.com/

FOLLOW Ramez: https://twitter.com/ramez

FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood