The Hard Part with Evan McCann

Charlie Feng is the Co-Founder of Agora. Agora is the home of onchain governance. Deploy Agora today to run your protocol and community. Agora recently announced their $5M Seed funding from Haun Ventures, Coinbase Ventures, Balaji Srinivasan, Packy McCormick, Dan Romero and others. Takeaways Launching an AI chatbot startup in 2013 Learnings from scaling Clearbanc/Clearco. The "Clearco Mafia" that is developing. Learnings from hyperscaling with capital and headcount. Why web3 is a great space to be building in right now. Governance in web3. Why co-founder conflict is the biggest reason startups die and how to mitigate that. Charlie's thoughts on raising (Clearco raised ~$860M). Why Charlie is building in SF and why there are so many Canadians there. Chapters 00:00 Navigating the Early Days of AI Chatbots and Fintech 04:48 Lessons from Rapid Growth and Scaling 09:24 The Potential of Web3 and Open-Source Governance 15:55 The Importance of Trust and Transparency in Web3 23:10 The Rise of Canadian Tech Founders 25:28 Principles for Building a Successful Company 33:01 Running a Dedicated Fundraising Process 38:23 Building in San Francisco: Benefits and Challenges 41:39 The Power of a Support Network 44:38 Dealing with Hard Times: Exercise, Hobbies, and Founder Support Keywords AI chatbots, fintech, rapid growth, market navigation, culture, governance, Web3, trust, transparency, volatility, gambling, web3, building a company, team, de-risking, fundraising, San Francisco, support network, personal growth, professional growth

Liran Belenzon is the Co-Founder and CEO of BenchSci. BenchSci's mission is to exponentially increase the speed and quality of life-saving R&D to improve patients' health. They do this by applying cutting-edge AI to understand how disease biology works at scale throughout the drug discovery pipeline to solve the number one reason why drug discovery projects fail — getting the biology wrong. ASCEND, their disease biology GenAI platform, understands the entire history of biomedical experiments to create a scalable AI assistant for preclinical organizations. Takeaways The genesis story of BenchSci. Thoughts on commercialization and how to do it well. How Liran has scaled with the company as a leader and founder. Step changes in headcount. How BenchSci navigates in-person, remote and hybrid work. Liran's contrarian thoughts on raising money and how he has raised $200M+. Why you should only do investor updates for investors and not potential investors. How AI has changed over the last 8+ years of BenchSci's journey. Building a network as an immigrant founder. Scaling product offerings. Working and selling into big pharma and research teams. Hiring for BenchSci's unique intersection of AI and bio. Chapters 00:00 The Genesis of BenchSci 03:12 Navigating the Drug Discovery Landscape 05:47 Commercialization Challenges and Strategies 08:59 Scaling as a Founder 11:59 Remote Work Dynamics 14:51 Mastering the Fundraising Process 19:52 The Evolution of AI in Drug Discovery 23:12 Understanding the Drug Discovery Process 25:54 Building Trust with Researchers 28:50 Overcoming Networking Challenges 32:14 Scaling Product Offerings 35:01 Hiring for a Unique Intersection 36:57 Personal Reflections and Future Outlook Keywords BenchSci, drug discovery, AI, commercialization, startup, scaling, fundraising, remote work, biology, technology

Inara Lalani is the Co-Founder and CEO of FemTherapeutics. FemTherapeutics is a medical device company developing “Invisalign for Gynaecology”. Leveraging artificial intelligence and 3D Printing, their gynecology platform offers patient-specific intra-vaginal devices for common pelvic health conditions. FemTherapeutics is building the infrastructure to allow expansion into other pelvic health categories including menstruation and sexual wellness, labour and delivery, oncology, and more. Takeaways Spinning out from the McGill Surgical Innovation Program. The patent process for medtech companies. The gender gap in medical innovation. Regulatory hurdles for medical devices. Fundraising in the medtech space, particularly in Canada. How they are utilizing the "Invisalign model" for medical devices. Manufacturing medtech products and adhering to quality standards like ISO 13485. Importance of mentors and advisors. Commercialization strategies and GTM. Feedback loops in product development. Leveraging grants and NDF. Raising for femtech ventures in a male-dominated venture industry. Chapters 00:00 The Genesis of FemTherapeutics 02:27 Navigating the Patent Process 05:09 Addressing the Gender Gap in Medical Innovation 07:01 The Challenges of Hardware Development 10:00 Fundraising in MedTech 12:04 Invisalign Inspiration: Customization in Medical Devices 14:21 Early Adoption Strategies for Medical Devices 15:48 Manufacturing Considerations for Medical Devices 16:46 The Importance of Advisors and Mentors 18:06 Commercialization Strategies for Medical Devices 20:26 Understanding Reimbursement Processes 21:55 Team Composition for Success 23:33 Feedback Loops in Product Development 25:37 Leveraging Government Support and Grants 27:32 Navigating Investor Conversations 29:32 Personal and Professional Excitements 30:37 Coping with Challenges as a Founder Keywords FemTherapeutics, medical innovation, gender gap, patent process, fundraising, medical devices, commercialization, reimbursement, team composition, feedback loops

Marc-André Forget is the Founder and CEO of dcbel. dcbel develops technology and designs products that put people at the center of the modern energy ecosystem. dcbel Home Energy Station perfects the art and science of smart home energy, allowing people to take ownership of their energy supply with one small device. Homeowners can supply their homes and EVs with solar power, use vehicle-to-home charging to make power outages a thing of the past, and reduce energy costs with artificial intelligence. Takeaways Raising from Volvo, Coatue and Real Ventures. Starting dcbel over 10 years ago and how this technology wave was not obvious then. Nuances and challenges to building hardware in Canada. How a home energy station will be a future staple in all homes. A shift towards renewable energy and grid overloads has added more complexity to energy management in the home. The shift and change that will happen with utlities. Navigating regulatory hurdles and changes Manufacturing onshore versus offshore. Distribution channels for dcbel. Best geographies for dcbel. Chapters 00:00 The Genesis of dcbel 08:30 The Inevitable Shift Towards Renewable Energy 14:58 The Future of Energy Management 27:16 The Global Impact of dcbel 36:56 Navigating the Challenges of Being a Founder Keywords Decibel, energy management, home energy station, renewable energy, complexity, accessibility

Jonathan Wolkin, Managing Director of Deloitte Ventures, dives into the dynamic world of corporate venture capital. He discusses the growth of important verticals like fintech and worktech in Canada. Wolkin highlights why corporate venture capital is less mature in Canada than in the U.S. and shares insights on building successful relationships within Deloitte. He also reveals strategies for being an effective board member and emphasizes the significance of technology in enhancing healthcare.

David Hariri is the Co-Founder of Ada. Ada is the world’s leading customer service automation company. Built for the digitally transforming enterprise, Ada’s AI-powered customer service automation platform helps companies effortlessly resolve their customer inquiries in any language or channel. Since 2016, Ada has powered over 4 billion automated customer interactions for companies like Meta, Verizon, AirAsia, Yeti, and Square. Takeaways Why Mike and David worked as customer support reps at other companies to find the true problem to solve. Why the Buyer and User of a product are sometimes different and how you should build for them. Design principles and open-source collaboration. The importance and meaning of elegance in a product. Balancing design and execution/timing. How to do road mapping effectively with customers. Dove into Paul Graham's Founder Mode and how David views founder involvement and feedback with his team. How to give tough feedback on the work not the person and driving better results for the team and company while not being a jerk. David's view on hiring for values and hiring for technical and design roles. Chapters 00:00 Starting ADA by Working as Customer Service Representatives 01:59 The Importance of Focusing on the Problem First 03:56 Firsthand Insights from Working in the Role 07:51 Understanding Stakeholders in the Buying Process 13:49 Doing More with Less and Prioritizing Partnership 18:30 Hiring for Values and Building a Design-Driven Culture 29:11 Appreciation for Design Principles and Open Source Collaboration 36:13 Founder Involvement and Attention to Detail 43:22 The Art of Giving Tough Feedback 48:29 Generative AI in Customer Service Keywords Ada, customer service, founders, problem-solving, technology, user insights, stakeholder, design principles, open source, collaboration, execution, roadmapping process, customer commitments, problem prioritization, involvement, details, founder involvement, tough feedback, balance, generative AI, personal and professional life, dealing with hard times, finding balance

Nicolas Mulroney, the Co-Founder and CEO of Bond Bakery Brands, shares his journey from investment banking to the bakery industry. He discusses spotting opportunities in a diverse and inclusive bakery market, balancing artisanal quality with large-scale production, and the importance of building relationships post-acquisition. Mulroney also dives into the challenges of automation costs and shares valuable lessons from his father, former Prime Minister Brian Mulroney, about legacy and ethical practices in business.

Jason Liu, a former data scientist at StitchFix and Meta, dives into the world of Retrieval Augmented Generation (RAG) and its transformative effects on AI tools. He discusses the shift toward smaller teams and specialized businesses in AI, as well as the nuances of AI consulting. Jason emphasizes the importance of clear communication in writing, the role of research in AI, and how innovations like micro apps can monetize creativity. His insights highlight the potential of AI to enhance productivity while navigating challenges in an evolving landscape.

Jenny He is the Founder & General Partner of Position Ventures. Position Ventures invests in early-stage startups and positions them for success by helping founders nail their positioning and communications strategy. They help you tell your story so you can hire, fundraise, and partner with the best talent in the world. Takeaways Joining Square and meeting Jack Dorsey Her angel investing journey Working at Expa (Garrett Camp's FO and VC) Raising Fund I from great LPs like Tiger Global and Bain Capital Ventures Focusing on positioning and what positioning means How do to position your startup effectively Why positioning is so important, especially in today's noisy tech space PR strategies that work in today's market and misconceptions around PR Building relationships with LPs Scaling value add as a solo GP Why is saying nothing is a strategy How to do stealth as a strategy effectively Chapters 00:00 Jenny's Unique Career Path 03:17 The Power of Positioning and Communications 06:14 From Square to Expa 09:24 PR Strategies and Misconceptions 14:35 Starting Position Ventures 16:17 Building Relationships with LPs 18:08 Scaling Value Add as a Solo GP 20:07 Investing in Early Stage Founders 23:31 Navigating the Solo GP Journey 24:57 Finding and Supporting Founders 26:28 Building Relationships with Investors 28:30 Timing of Communications and PR 29:52 Shifting Positioning and Rebranding 31:27 Supporting Portfolio Companies 32:34 Dealing with Hard Times Keywords Jenny He, Position Ventures, career path, Ivy League, US tech industry, Square, Expa, angel investing, venture fund, positioning, communications, PR strategies, long-term relationships, portfolio companies, Jack Dorsey

Mark Shulgan is the Co-Founder of Intrepid Growth Partners. Intrepid Growth Partners is led by Mark Machin, Mark Shulgan and Ajay Agrawal. Their new fund seeks to invest in fast-growing AI companies primarily in Canada and the UK that have reached $10M in revenue and are on a path to achieving profitability. Takeaways Gaining valuable experience in valuation and underwriting companies during the dot-com bubble. Co-founding the Thematic Investing team (now known as Growth Equity) at CPP. Building the Growth Equity team at OMERS. Learnings around hiring and scaling an investment team. What does growth stage investing mean to Mark and what nuances exist at that stage. Understanding cash flow and building financial models are important aspects of growth-stage investing. How Intrepid was started with Mark Machin calling up Mark to start a fund. Why Intrepid is focused on the growth stage and scaling AI companies. The step change that is involved in a company that takes them from $10M in ARR to $100M+ ARR. Canada and the UK have a rich ecosystem of AI talent and companies. LP appetite for the AI space. Valuations in the AI space can be hot, but there are reasonable valuations for companies focused on specific applications. Chapters 00:00 Mark Shulgan's Background and Experiences 09:52 CPP and OMERS: Pension Fund Managers and Growth Investing 15:06 Key Aspects of Growth Stage Investing 18:37 The Genesis Story of Intrepid 24:06 The Potential of Artificial Intelligence in Growth Stage Investing 31:46 The Abundance of AI Talent 35:10 Navigating Valuations and Cutting Through the Noise 43:19 Personal Practices for Dealing with Hard Times 45:40 The Bright Future of AI Keywords Mark Shulgan, growth stage investing, dot-com bubble, valuation, underwriting, private equity, subordinated debt, growth equity, CPP, OMERS, Intrepid, artificial intelligence, artificial intelligence, AI, go-to-market enablement, healthcare, robotics, automation, AI talent, valuations, hard times, transcendental meditation, fitness, future