I’m excited about our guest today. Jack’s been doing startups from a young age. In his early twenties he started a company called Milo, which ended up being acquired by eBay for around $80-90m. Since then he’s been using a studio model at Atomic; the “two pizza team” principle. His dynamic teams have been busy churning out innovative ideas that scale into billion dollar companies. Jack moved the firm to Miami over the pandemic and hasn’t looked back. I would encourage anyone young listening to this to definitely go out and build. There’s a lot to build, lots of problems to solve and things to fix. Just do it. Guest - Jack Abraham, Founder, CEO and Managing Partner at Atomic.vc howardlindzon.com, atomic.vc, atomic.vc/futurefounders/ Twitter: @howardlindzon, @PanicwFriends, @jackabraham, @knutjensen linkedin.com/in/jackabraham #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:40) – Intro (03:35) – Welcome Jack (04:23) – Moving to Miami (08:27) – Major firms in Miami (13:46) – The epicenter of the startup scene (18:34) – Founding Milo (27:12) – Getting acquired by eBay (31:50) – Meeting and mentoring Entrepreneurs (32:53) – Delivery by building the last mile at scale (36:19) – Complexity of the studio model (39:20) – Innovating with "two pizza" teams (42:43) – Avoiding the traps of the studio model (44:17) – Looking for the compounders (44:35) – OpenStore - Liquidity drives progress (50:10) – Two public companies outside of FAANG (53:16) – Labor participation and inflation (53:39) – Technology improves productivity (57:21) – Closing thoughts 

You know what we do here on Panic. We talk about entrepreneurs and founders and investors looking for inspiration and trends. Today’s guest is the epitome of a grinder. Dorrian Porter is the founder and CEO of Vestaboard. Maybe I’m biased because I’m a small personal investor, but it took him a long time to create the hardware. It’s really where art meets science meets technology. And I love it. It’s rare you meet a founder who is truly pushing a rock up a mountain. I hope you enjoy listening as much as I enjoyed my conversation with Dorrian. Guest - Dorrian Porter, Founder & CEO at Vestaboard howardlindzon.com, vestaboard.com Twitter: @howardlindzon, @PanicwFriends, @dgp, @vestaboard, @knutjensen linkedin.com/in/dorrianporter#fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:39) – Intro (05:17) – Welcome Dorrian (05:57) – The elevator pitch (08:02) – The inspiration for Vestaboard (15:12) – Designing and manufacturing (17:26) – Concept to shipping product (21:10) – The reality of the supply chain (26:10) – Economies of scale to lower prices (28:45) – The magic and aesthetic for kids (31:26) – Getting the software right (32:49) – Celebrity customers (35:11) – Using data to delight customers (40:50) – Getting the core product right first (43:45) – Art as a communication platform (51:01) – Closing thoughts 

I’ve got Kyle Samani back for his third appearance on Panic with Friends. As unusual, Kyle does a fantastic job of breaking down crypto with compelling use cases that will leave you with a better understanding of where we’ve been and where the promise of Web3 will take us. I’ve been a personal LP in his fund since it started in 2017, with positive results even through the brutal Crypto Winter of 2018/19. This episode piggybacks last weeks episode with Tushar Jain, Kyle’s co-founder at Multicoin Capital. Listen to them both. You’ll walk away realizing the inevitability of Web3 and where the major trends in technology are developing. Guest - Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital Multicoin Summit Keynotehowardlindzon.com, multicoin.capital Twitter: @howardlindzon, @PanicwFriends, @kylesamani, @multicoincap, @knutjensen linkedin.com/in/kylesamani #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes:  (00:37) – Intro (03:38) – The biggest change from the multitude of crypto pullbacks (04:45) – Growth and estimates of individual crypto holders (05:30) – Changes in how people access information (07:48) – Trading platforms are a commodity (09:23) – The 'flippening' from stocks to crypto (10:27) – Composability explained (13:45) – Building higher order apps on top of existing things (16:11) – Importance of latency and throughput (17:45) – Accelerating the adoption of sovereign software (19:54) – How things are different now (23:04) – The case for compute (Render) (28:20) – Designing a token system that captures value (32:07) – Fleshing out the Web3 infrastructure (32:17) – Defining Web3 (34:25) – Web3 compliments Web2 (35:41) – Understanding competing blockchains (38:47) – Binance, FTX, and Coinbase (43:46) – Closing thoughts

I’m really excited to have special guest Tushar Jain on the pod. He’s the co-founder and managing partner of Multicoin. We talk about the current crypto market, what it was like in the 2018/19 bear market, and what we can expect with crypto/web3 on a 2 to 5 year time horizon. We discuss The Graph, Helium, and Render. We’re still at the beginning with crypto, which means volatility is here now, but the future is out there; we’ve been in a blackberry moment, web3’s iPhone moment is coming. This tech bear market we’re in right now may be the catalyst that gets people focused on the next big thing. Guest - Tushar Jain, Co-Founder and Managing Partner of Multicoin howardlindzon.com, multicoin.capital Twitter: @howardlindzon, @PanicwFriends, @TusharJain_, @multicoincap, @knutjensen linkedin.com/in/tjain251 #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes:  (00:37) - Intro (02:21) - Schmuck insurance (05:30) - Accelerating the adoption of sovereign software (07:28) - Ethereum - First big aha moment (10:02) - Starting an investment firm (14:41) - Timing crypto tops and bottoms (16:58) - Betting on The Graph (24:55) - Defining web3 (25:28) - Censorship resistant, neutral, permissionless (25:44) - No toll, no excess rents (27:12) - Your private key is the most important thing (29:37) - The Helium business model for deploying networks (40:04) - Everyone's trying to build the smartphone equivalent of web3 (40:35) - A clear vision for crypto  (43:24) - Excited about UXD (44:56) - Semiconductors, Mining, and Compute (47:00) - Closing thoughts 

The markets are in turmoil, and while this is an evergreen podcast, I thought it was important to put this episode out now and address what’s currently going on in the markets because we’re having our first real Panic since March of 2020. We kept our cool back then, but this panic we’re in now is very focused on a specific group of companies. It’s mainly focused on technology companies that are doing well, but are just overvalued.Host - Howard Lindzon, Managing Partner at Social Leverage, and Host of Panic With Friends Podcast Co-Host - Knut Jensen, Sidekick and Producer of Panic With Friends Podcast howardlindzon.com, socialleverage.com Twitter: @howardlindzon, @socialLeverage, @knutjensen linkedin.com/in/howardlindzon linkedin.com/in/knutejensen linkedin.com/company/socialleverage Odd Lots podcast with Joe Weisenthal and Tracy Alloway #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:42) - Intro (03:27) - Listener questions (04:13) - For any Whoop employees listening (04:28) - What is the Great Roundtrip and what can we learn from it? (05:46) - Poster child ARK’s Cathie Wood (06:29) - The FANG stayed intact for the most part (07:26) - We don’t have a full market crash (08:22) - Great investors will find the companies that emerge (08:51) - Cloudflare, Shopify, and Zoom (09:48) - 8 to 80 brands with great margins (11:24) - Are the markets as connected as I thought? (11:44) - Private markets acting more efficiently than public (12:31) - Public market equivalent selloff of 50, 60, 70 percent (14:16) - A nasty correction in pricing for private companies (15:11) - Eventually these are connected markets (15:38) - What excites me moving forward (16:00) - Tech outperforms over the long haul (16:44) - If energy stays up, high tech will win (17:07) - Figuring out how to get rid of carbon (17:31) - While everybody chases energy, tech will win the day (18:11) - Tech stocks are not 1999 (21:45) - We need balance, but the show is about trends (22:07) - Closing thoughts

I'm excited to bring one of my favorite guests back for his second round of Panic: Yoshi Yokokowa, founder of Alpaca, a Social Leverage Fund III portfolio company. Coming to you all the way from Japan, Yoshi is here to talk fintech, the stress of a recap, and the stress of losing momentum at an early stage. And to all those founders out there listening, we don't talk about recaps or losing momentum much because it's not fun. But people pricing their companies to perfection in the first year, should be careful what they wish for; things can and do go sideways. Guest - Yoshi Yokokawa, Co-Founder and CEO at Alpaca howardlindzon.com, alpaca.markets Twitter: @howardlindzon, @PanicwFriends, @iyoshyoshi, @AlpacaHQ, @knutjensen linkedin.com/in/yoshiyokokawa #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:39) – Show intro (04:50) – Introducing Yoshi (05:46) – Quick summation of Alpaca (08:44) – A distributed global workforce (10:32) – Extreme tailwinds in the fintech industry (11:46) – The "Great Round Trip" (13:14) – A macro bet on owning the stack (14:40) – Disrupters, incumbents, and wallet share (17:10) – Not everybody gets a balloon and lollipop (19:08) – Transparency and how things work (19:45) – Open source. Like water/public utility (22:02) – The 'sameness' of financial services (22:14) – Leveraging information asymmetry (23:36) – Advice to Robinhood (24:12) – Understanding your customers (24:56) – Laying some digital pipe (26:48) – Advice to fintech founders (32:34) – Filling the gap for certain regions (37:03) – Creating more convenience peer-to-peer (37:48) – Keeping up with fintech trends (42:06) – Closing thoughts

It’s 2022 and the memes will go on, but hopefully investors will get wiser and smarter. But a world in which energy is the best performing asset bores the hell out of me, so I decided to bring Justin Reis of Watchbox back for a second round of Panic. He’s quickly becoming one of my favorite guests. I’ve long been fascinated by all things watches, and Justin is my go-to expert on buying, selling, and trading pre-owned luxury watches. I hope you enjoy our chat on creating value through the power of community and passion. (Full disclosure: Social Leverage is an investor in Watchbox through a single purpose vehicle.)Guest - Justin Reis, Co-Founder and Global CEO at WatchBox howardlindzon.com, thewatchbox.com Twitter: @PanicwFriends, @howardlindzon, @watchbox_global, @knutjensen linkedin.com/in/justin-reis-633925188 #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:11) – Show intro  (03:16) – Introducing Justin  (04:23) – The macro environment  (06:05) – Changes in market conditions  (06:56) – Average selling prices on Watchbox  (10:06) – Bringing liquidity through a store of value  (11:16) – Leveraging Brand Equity  (13:19) – Building trust through community  (16:34) – The pop-up model meets high-end retail  (17:43) – Customer retention and building loyalty  (26:11) – Looking at the underlying trends  (28:45) – It isn't fun if you can't share the passion  (30:16) – Size of the primary and secondary watch market  (33:10) – The best watch for the beginning collector  (35:02) – Howard's home address and safe combination  (36:50) – Limited production timepieces  (39:01) – Pros and cons of running a public company  (40:13) – Your mom probably listens to Panic with Friends  (43:03) – The value creation inherent in community  (44:06) – Closing thoughts 

I last sat down with Rob back in April of 2019 and we discussed the best tools for researching stocks. A lot has changed since then. 2022 is going to come down to fundamentals. Up until now it’s been a party, but the Fed is deciding to rein in the 50 year party of loose money. Stocks trading at 100 times revenue are now at 40 times, or even 20 times revenue. We’re at a point where it’s time to look at the numbers. Rob and I discuss fundamentals, what’s happening in the market, and how he thinks about building a product for a world that hasn’t cared about fundamentals for a long time. . Guest - Rob Koyfman, Co-founder and CEO at Koyfin howardlindzon.com, koyfin.com Twitter: @howardlindzon, @KoyfinCharts, @koyfman, @knutjensen linkedin.com/in/rob-koyfman-8b693317 #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:11) – Show intro (04:26) – Introducing Rob (06:59) – Seeing a turn in the market (08:59) – Rob gets the Stock Market bug (11:02) – A Bloomberg for everyone (13:18) – Organizing and delivering the data (17:48) – Relating one stock to another via fundamentals (28:26) – Solving real fintech data problems (31:50) – Individual investors want professional tools (35:15) – A reduction in liquidity and Fed raising rates (39:20) – Market pricing in rate hikes (42:36) – Capping the commodity cycle (46:34) – Looking at the generally accepted fundamentals of crypto (52:46) – Closing thoughts

You yutes have it so good. Mark and I used to walk up hill in the snow both ways to school, we had Hebrew class 8 days a week, and we had to read actual books at an actual library. I first met Mark about 15 years ago in the early days of Stocktwits; at the Macanudo Cigar bar. We talk charitable work, market cycles, investing, inflation, and valuation. It was good to catch up. I hope you enjoy our conversation and appreciate how good you have it. Guest - Mark Gerson, Chairman at African Mission Healthcare, United Hatzalah of Israel, and Host of The Rabbi’s Husband Podcast. Co-founder at Gerson Lehrman Group GLGhowardlindzon.com, israelrescue.org, AfricanMissionHealthcare.org, therabbishusband.com, glginsights.com Twitter: @howardlindzon, @markgerson, @knutjensen linkedin.com/in/mark-gerson-26631 #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (00:04) – Show intro (04:17) – Introducing Mark (08:03) – Investing ideas Mark's passionate about (12:18) – Developing an addiction to exercise (12:46) – The best self-help book ever (15:04) – Charity: The power of a well-deployed dollar (17:30) – Three minutes separate life and death (20:54) – The 'ambicycle' (28:39) – Separate the urgent from the important (31:08) – Education - not one system fits all (31:14) – Investing in the markets (32:48) – Cycles do exist (33:36) – Tiny bubbles (34:06) – Valuation is important (35:28) – Inflation will have significant effects (38:06) – Saying inflation is temporary isn't helpful (39:32) – Closing thoughts

It's Arizona Cardinal Kelvin Beachum Jr's second appearance on Panic with Friends, but he also holds the distinction of being the first in-person guest in our brand new studio! Kelvin is now in his 10th season in the NFL, and he's an investor at heart. He caught the bug early in his NFL career from teammates; there were many locker room conversations on traditional investing, real estate, and of late, even NFTs. He's into startups too, always looking for what's new and innovative. Basically what's next, whether that's crypto, web3, or the metaverse. Kelvin continues to build an incredible network in the venture capital world. I hope you enjoy our conversation. Guest - Kelvin Beachum, Offensive Lineman at Arizona Cardinals, 2021 Walter Payton Man of the Year nominee howardlindzon.com, kelvinbeachum.com, nfl.com/honors/man-of-the-year/nominees/2021/cardinalsTwitter: @howardlindzon, @KelvinBeachumJr, @knutjensen linkedin.com/in/kb2smu #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: (1:56) - Introduction to Kelvin (4:26) - Best locker room in the NFL (8:55) - Information overload / Filter failure (10:04) - Joe Montana leverages the Valley (13:53) - Watching your favorite quarterback (15:39) - Let's talk about investing (17:26) - When the deal flow is on a roll (21:02) - The importance of relationships (24:20) - Being "leveraged" from all points on the planet (25:12) - Looking over the shoulders of digital natives (27:46) - As a parent we just have to be intentional with whatever we do (29:29) - Let's don't bring up golf dude! (31:33) - Career longevity (35:04) - Everybody's punching up because that's how social works (36:16) - Sleep is fitness (48:15) - Closing thoughts