The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

466. Investing in xAI, Wiz, and Flexport; Masayoshi Son’s Superpower; How Elon Will Win the LLM War; and Whether AI Is an Extinction-Level Event for SaaS (Kevin Jiang)

Jan 20, 2025

Kevin Jiang, CIO and co-founder of Mangusta Capital, dives into the world of early-stage AI investments, contrasting his approach with larger firms. He discusses the potential of explainable AI and Elon Musk's vision for LLMs, emphasizing niche markets and vertical AI solutions. Jiang also addresses the implications of AI on sectors like healthcare and fintech, exploring how it may reshape the SaaS landscape. With insights on investment strategies and the future of AI, this conversation is both enlightening and thought-provoking.

51:38

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Kevin Jiang

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Episode notes

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Quick takeaways

Kevin Jiang advocates for early-stage investing within the AI sector, focusing on industry-specific applications that drive immediate value and revenue.

Masayoshi Son's strategic investment decisions reflect a deep understanding of emerging technologies, influencing overall venture capital trends and opportunities.

The rapid adoption of AI technologies across various industries signifies a transformative shift in business models, fostering enhanced productivity and customer experiences.

Deep dives

Tovala's Success and Retail Expansion

Tovala, a meal kit company, has achieved notable profitability and impressive revenue, marking a significant milestone in its journey. The company is forming a crucial retail partnership with Costco, which is expected to broaden its customer base significantly. Tovala focuses on solving customer problems by offering high-quality meals that require minimal preparation time, enabling users to enjoy dinner in 20 minutes or less. This strategic emphasis on customer convenience has underpinned the brand's recent success and expansion efforts.

Intro

2min

Navigating Early-Stage Investments

19min

Investing in Innovative AI

14min

Innovations in Venture Capital and Culinary Partnerships

3min

Navigating Product Expansion vs. Core Focus in Business Strategy

3min

AI Disruption and Emerging Opportunities

12min

Enhancing Productivity Through Team Dynamics and Prioritization Strategies

2min

Kevin Jiang of Mangusta Capital joins Nick to discuss Investing in xAI, Wiz, and Flexport; Masayoshi Son’s Superpower; How Elon Will Win the LLM War; and Whether AI Is an Extinction-Level Event for SaaS. In this episode we cover:

Choosing Early-Stage Investing Over Growth Investing
Masayoshi and SoftBank's Investment Decisions
X AI and Elon Musk's Vision for AI
Vertical AI and Industry-Specific Solutions
Scalability and Expansion in Vertical AI
Challenges and Opportunities in AI Adoption

Guest Links:

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

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You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Are you a founder looking for your next investor? Visit our free tool VC-Rank and we’ll send a list of potential investors right to your inbox!

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