The Hard Part with Evan McCann

Patrick Chung is the Managing General Partner of Xfund. Xfund is an early-stage venture capital firm built to back entrepreneurs who think laterally and experiment across disciplines. They are a pioneering partnership between some of the country’s most successful venture capital firms and some of the world’s best research universities in the United States and abroad. Patrick's bio is fascinating! Bachelor, JD and MBA from Harvard Masters from Oxford McKinsey Founder of ZEFER which hit $100M annual revenue and was acquired Partner at NEA Takeaways Patrick's journey from Harvard, Oxford, McKinsey and into venture. Learnings from being a VC at NEA. The genesis story behind Xfund and its focus. Why founders are like artists. Meeting Sam Altman 20 years ago and investing in his first company Loopt. Cultural shifts are encouraging more graduates to pursue entrepreneurship. University bias often leads to safe career choices and how to change that. Providing term sheets upon graduation provides real choices for potential founders. Talent over industry. The importance of co-founders. Navigating university policies on IP. Chapters 00:00 Patrick Chung's Journey: From Harvard to Venture Capital 03:06 The Empathy of Founders: Insights from the Investor Side 06:04 Identifying Great Founders: The Xfund Approach 08:53 Cultural Shifts in Entrepreneurship: A New Generation of Founders 12:06 Navigating University Bias: The Challenge of Safe Choices 15:11 Creating Real Choices: The Experiment Stake Initiative 18:07 Finding Talent: Where to Discover Future Founders 21:09 Sector Focus: Talent Over Industry 23:56 The Power of Co-Founders: Trust and Collaboration 27:07 Selecting Schools: The Power Law of Startup Success 30:05 Unlocking Entrepreneurial Potential: Tools and Strategies 32:47 Commercialization and IP: Navigating University Policies 36:07 Personal Insights: Dealing with Hard Times Keywords Patrick Chung, Xfund, venture capital, entrepreneurship, founders, university startups, empathy, investment, startup culture, commercialization

Saam Mashhad is the Co-Founder and Chief of Product & Legal Operations at EvenUp. EvenUp uses data and technology to help plaintiffs and attorneys achieve better legal outcomes. EvenUp recently announced a $135M Series D which brings their valuation to over $1B. The round was led by Bain Capital Ventures, with participation from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group. Takeaways Saam's journey from commercial litigator to co-founding EvenUp. Why the focus on personal injury law. How EvenUp streamlines legal workflows. How to build a product that seamlessly integrates into lawyers' workflow. AI's impact on legal tech. Designing a product that has to be 100% accurate and when to loop in humans on EvenUp's side. Having an ops-heavy product. Balancing market needs with automation. Launching new products. User feedback. How the legal landscape is shifting with AI + tech. Chapters 00:00 From Lawyer to Entrepreneur: The Genesis of EvenUp 06:01 Innovating Legal Workflows: The Role of Technology 12:02 Building a Product Team: The Importance of Diverse Expertise 17:55 Expanding the Product Suite: New Offerings and Features 24:03 Navigating Challenges: Personal and Professional Growth 30:06 Looking Ahead: Future Opportunities and Personal Reflections Keywords EvenUp, personal injury law, legal technology, litigation funding, AI in law, product development, user experience, legal workflows, startup journey, entrepreneurship

Jonathan Bronfman is the CEO of Monsters Aliens Robots Zombies (MARZ). MARZ is an AI-enabled VFX company dedicated to democratizing the world of visual effects. They are the creators of Vanity AI and LipDub AI. Some notable collaborations include The Umbrella Academy S3 on Netflix, Moon Knight and WandaVision from Marvel, Ms. Marvel, The Flight Attendant on HBO Max, Invasion on Apple TV+, Wednesday on Netflix, Carnival Row on Amazon Prime Video, Spiderman: No Way Home from Marvel and many more. Takeaways Where the name MARZ came from. The film industry faces a gap between perceived market value and production costs. AI should be seen as a tool to enable filmmakers rather than replace them. The future of content creation and the Streaming Wars. Movie industry insights and breakdown. The impacts of LipDub AI on foreign and multi-language content. Independent creators now have access to tools that allow for more creative storytelling. AI can enhance the efficiency of content creation across various industries. How MARZ's service business fuels the software side. Mr Beast and creators impact on content. Why YouTube is Hollywood's biggest competitor. Balancing quality and timeliness in production. Chapters 00:00 Jonathan Bronfman's Journey in Film Production 02:12 Identifying Challenges in Film Production 04:41 The Birth of MARZ and Visual Effects Innovation 07:38 The Impact of AI on the Film Industry 09:10 The Future of Content Creation and Streaming Wars 12:14 Localization and Language in Film 17:47 The Evolution of Content Creation with AI 21:56 MARZ's Positioning in the Film Industry 24:14 The Synergy of Service and Software 25:52 Building a Diverse Team for Innovation 29:17 Quality as a North Star in Content Creation 32:30 Balancing Quality and Timeliness in Production 36:19 Navigating Funding and Market Dynamics 44:00 Looking Ahead: Excitement and Challenges in Hollywood Keywords film production, visual effects, AI in film, content creation, streaming wars, localization, Hollywood, technology in film, service business, software, team composition, quality, content creation, funding, Hollywood, AI technology, production timelines, market dynamics

Gaurav Jain, Co-founder and Managing Partner of Afore Capital, shares his inspiring journey from immigrant to venture capitalist. He discusses the pivotal moments in his career, especially founding Polar Mobile. Gaurav emphasizes the critical need for pre-seed funding and the traits that define successful founders. He dives into Afore's unique investment process, highlighting the shift towards identifying winning teams over mere ideas. Finally, he explores the exciting potential of AI in shaping the future of investing.

Raymond Chik is the Co-Founder and Board Chair of Hepzibah. Hepzibah is a 'full-stack' AI compute architecture startup; full-stack as in "From Models to Metals". Raymond's other work includes: Co-Founder and Board Chair of Kapik Integration which has spun out Star IC , Hepzibah, Untether AI and other companies Co-Founder of Untether AI which has raised $150M+ from Intel Capital, Radical Ventures and Tracker Capital Active angel and advisor Champion and supporter of Canadian hardware/hardtech Takeaways Genesis of Kapik and spinout companies. Seismic shift towards AI computing in the semiconductor industry. Should we build a semiconductor fab in Canada? What is the best option. Canada's under-recognized semiconductor industry includes ATI (acquired by AMD), Untether AI, Star IC, Tenstorrent, Taalas, Astrus and many more. Geopolitical trends in the chip space. Fostering homegrown talent and keeping it in Canada. Energy efficiency is becoming a key focus in AI chip development. Emerging trends beyond AI in chips. Edge computing is an emerging area with significant potential. Lack of investment in hardware in Canada. Investment landscape for chip companies. Raymond's new venture. Chapters 00:00 The Genesis of Kapik Integration 03:33 The Shift to AI Computing 07:45 Spinning Off New Ventures 12:08 Lessons in Entrepreneurship 15:06 The Debate on Semiconductor Fabs in Canada 20:11 The Semiconductor Landscape in Canada 25:21 Fostering Homegrown Talent and Companies 29:21 The Influence of Borders on the Semiconductor Industry 32:17 Emerging Trends Beyond AI 38:55 Investment Landscape in Semiconductor 42:08 Introducing Habsaba: A New Venture Keywords Kapik, AI computing, semiconductor industry, Canada, entrepreneurship, investment, edge computing, energy efficiency, technology trends, innovation

Daniel Saks is the CEO and the Co-Founder of Landbase. Landbase is the world's first AI action model for GTM. Intelligently automate your go-to-market, powered by GTM-1 Omni. Join the movement to reclaim your day. Takeaways How Daniel co-founded AppDirect Why the wave of cloud was a driving force for AppDirect Scaling to 1000+ people and maintaining the culture Why Agentic AI is the next exciting wave Why the focus on the GTM function Half of marketing campaigns fail to generate leads that convert. AI agents will likely be specialized for specific use cases. Building the right founding team AI can enhance human performance in sales. Building trust scores to improve outbound. The future of software will prioritize human experience. Co-Pilot vs. Auto-Pilot AI should prompt human decisions for efficiency. Angel investing Chapters 00:00 The Journey Begins: From Family Business to Silicon Valley 07:49 Building a Values-Based Culture at AppDirect 15:52 The Evolution of AI Agents: Specialized vs. Generalized 22:54 Co-Founder Dynamics: Building the Right Team 29:17 Understanding Target Profiles and Pain Points 35:27 The Role of Landbase in Different Business Stages 43:35 Innovative User Experience Beyond Screens Keywords entrepreneurship, Silicon Valley, AppDirect, AI, agentic AI, go-to-market strategies, startup culture, values-based leadership, co-founder relationships, technology trends, entrepreneurship, credibility, AI, sales, machine intelligence, user experience, angel investing, business strategy, trust, go-to-market

David Gaylord is the Co-Founder and CEO of Bushbalm. Takeaways Growing up in a family business and jumping into e-commerce early Working at Shopify and learnings there Genesis story behind Bushbalm Going full-time with Bushbalm after a few years and over $4M in revenue Why salons/professional channel has been so powerful for the brand Advantages of wholesale from distribution and beyond Effectively using 3PLs How to do retail partnerships well Doing great product launches Limited Edition products Product launches around seasonal demand Black Friday strategies Bootstrapping Cash flow dynamics and how to use them as an advantage Chapters 00:00 The Evolution of a Family Business 05:20 The Birth of Bushbalm 10:44 Navigating Distribution Channels 16:16 Wholesale vs. Direct-to-Consumer 22:30 Leveraging Social Media for Growth 29:45 Timing and Strategy for Seasonal Product Launches 36:05 Cash Flow Management: Lessons from Gymshark 41:30 Looking Ahead: Goals for the Upcoming Year Keywords e-commerce, Shopify, Bushbomb, product-market fit, family business, direct-to-consumer, retail, distribution channels, trade shows, 3PL, retail partnerships, product launches, Black Friday strategies, pricing strategies, bootstrapping, cash flow management, supplier relationships, company culture, business growth, consumer engagement

Mike Gozzo is the Chief Product and Technology Officer (CPTO) at Ada. Mike is also an Operating Advisor at Bessemer Venture Partners. Previously Mike founded Smooch.io which Zendesk acquired. He then worked as SVP of Product at Zendesk. Takeaways Smooch.io was born from a unique incubation experience. The story behind the acquisition by Zendesk for $80M. Cultural alignment was a key factor in choosing Zendesk. Why he left his role at Zendesk to join Ada. After joining Ada why he cut the number of products and narrowed the company's focus. AI is reshaping product development and customer interactions. Flexibility in software design. The importance of delivering high-quality automated resolutions. Product teams should be structured around key metrics. How Ada structures their product and technical teams. Inference and intelligence in AI will become commoditized. Early-stage founders should focus on customer feedback. His work with Bessemer, angel investing and advice for founders. Chapters 00:00 The Genesis of Smooch.io 12:45 Navigating the Acquisition by Zendesk 13:01 Cultural Integration and Reflections Post-Acquisition 18:02 The Decision to Leave Zendesk for Ada 20:27 Impactful Decisions at Ada 22:58 AI's Influence on Product Development 25:45 The Evolution of AI in Customer Service 30:14 Building Effective Product Teams 36:27 The Future of AI Applications 39:49 Insights from Venture Capital and Angel Investing 42:13 Advice for Early-Stage Founders 44:41 Personal Growth and Professional Excitement 47:02 Navigating Challenges as a Founder Keywords Smooch.io, Zendesk, acquisition, startup culture, product management, AI, customer experience, entrepreneurship, Canadian startups, innovation, AI, customer service, product management, venture capital, early-stage startups, founder advice, machine learning, automated resolutions, product teams, investment strategies

Gregory Macdonald is the Founder and CEO of Bathorium. Bathorium was founded on the concept of benefits based on bathing; bath soaks that invigorate, restore and rejuvenate the end user. From day one this Canadian company's mandate is to create a truly memorable bath experience focusing on the bathers' well-being. Takeaways Bathorium was inspired by a transformative bath experience in Italy The company started in local markets Sourcing quality ingredients A feature on Good Morning America propelled their growth Channels, DTC, wholesale and more Thinking behind product offerings Pricing strategies and positioning The importance of brand Buying out his co-founder The second decade of the brand Chapters 00:00 The Genesis of Bathorium 05:01 Sourcing Ingredients and Building a Supply Chain 10:14 Pivotal Moments in Bathorium's Journey 15:26 Navigating Channels and Market Strategies 22:07 The Impact of Pricing and Brand Positioning 28:06 Looking Ahead: The Second Decade of Bathorium 34:38 The Role of Mentorship in Business Keywords Bathorium, entrepreneurship, clean beauty, wellness, product sourcing, market strategy, co-founder dynamics, brand positioning, mentorship, retail partnerships

Xavier Hébert-Couturier is the CEO and Co-Founder of Picketa Systems. Picketa Systems offers real-time plant tissue sampling for growers and agri-businesses to conduct nutrient analyses rapidly and independently. An online platform informs farmers instantly of nutrient deficiencies, enables agronomists to tailor nutrient critical levels and delivers a comprehensive overview of crop needs at the glimpse of a dashboard" Takeaways Genesis story of Picketa How the business model has evolved How real-time nutrient analysis is a gamechanger Building their prototype How Picketa fits into a farmer's typical process Creating a seamless user experience Grassroots marketing and getting in front of farmers The focus on agronomists as their super users Hardware + software integration and how to make it a great product Selecting what crops to focus on early on Industry trends show consolidation and a focus on precision agriculture Platform integrations Chapters 00:00 The Genesis of Picketa Systems 06:27 Business Model Evolution 11:52 Adapting Technology for Diverse Environments 17:23 Hardware and Software Integration 23:23 Navigating Industry Trends 33:06 Ecosystem and Platform Integration Keywords Picketa Systems, agriculture technology, crop analysis, tissue sampling, agronomy, business model, user experience, data utilization, marketing strategies, hardware integration