Innovation with Mark Peter Davis

On this week’s pod ep I sit down for a chat with Seth Levine, Partner of Foundry. Seth has played a significant role in shaping the venture ecosystem over the past two decades and is known for his work in accelerating the democratization of innovation outside of Silicon Valley.We cover a range of topics but do a double click on the importance of having a clear intention and plan for the future of a venture firm, which includes the need for VCs to adopt a business-building mindset. We agree that venture capital firms need to be better at running their own businesses and making strategic decisions for the long term, especially if the goal is to have the firm outlive its founders.Seth is amazing and shares valuable insights into the dynamics of the venture capital industry and the efforts to advance society through entrepreneurship, a topic he covers in his book The New Builders. We chat about that book, plus the  new one he’s currently working on (which I can’t wait to read).Overall, this was a great chat. Big thanks to Seth for coming on the pod!LinksGuest Links: Book | The New Builders by Seth Levine, Article | A Friedman doctrine‐- The Social Responsibility of Business Is to Increase Its ProfitsFollow us on Twitter: @sether, @foundryvc, @newbuildersbook, @mpd, @interplayPodcast Links: Website, YouTube, Twitter, LinkedIn

Here’s what’s covered on this week’s pod:A step by step guide on how to iterate your MVPPhuong and I discuss the importance of testing Minimum Viable Products (MVPs) to iterate and achieve product-market fit. She outlines a step-by-step process for testing MVPs, starting with defining test objectives and creating metrics to track performance. Fong emphasizes the significance of creating user personas and recruiting testers that represent different user types. By gathering feedback from testers, entrepreneurs can optimize their products to better serve each user group. Fong suggests providing clear instructions to testers and analyzing usage data to understand user behavior and identify areas for improvement. The iterative process of updating and refining the product based on feedback and data is also highlighted.Dos and don’ts for portfolio/vc relationship ethicsMike and I delve into the ethics of the portfolio venture capital (VC) relationship. They acknowledge that transparency and ethics should be the guiding principles but highlight instances where founders may skew data or misrepresent numbers. Mike suggests that founders should be open, transparent, and willing to ask for help when needed. He emphasizes the significance of maintaining trust and a healthy relationship with investors by being transparent about challenges and seeking support.LinksFollow us on Twitter: @mpd, @Mikeyjrog, @interplayPodcast Links: Website, YouTube, Twitter, LinkedIn

On this week’s episode I do a deep dive into the world of venture debt with special guest Billy Libby, CEO and Co-founder of Upper90. Get ready to uncover a groundbreaking approach to financing early-stage startups that challenges the traditional equity-focused model. Upper90 is on a mission to make credit accessible to tech companies at an earlier stage, allowing founders to retain a greater ownership stake in their businesses. Billy shares valuable insights on how venture debt can provide a lifeline to entrepreneurs, highlighting real-world examples of asset-based lending and innovative solutions for capitalizing on growth opportunities. Whether you're an entrepreneur seeking financing options or simply curious about the evolving landscape of startup funding, this episode is a must-listen. Join the conversation and gain a fresh perspective on the intersection of technology, finance, and entrepreneurship.LinksFollow us on Twitter: @Billy__Libby, @upper__90, @mpd, @interplayGuest Links: Upper90Podcast Links: Website, YouTube, Twitter, LinkedIn

Here’s what’s covered on this week’s episode:Phuong Ireland joins us to talk about bootstrapping startups. Bootstrapping means building and growing your business without external funding, relying on personal savings, revenue, or loans. It offers benefits like maintaining full ownership, having control over the company's direction, and focusing on profitability. It also makes you more attractive for future funding. However, bootstrapping comes with risks like limited funds and lack of access to mentorship and connections.Mike Rogers shares his insights on the current state of Series C funding. Series C funding peaked in 2021, but 2022 showed a decline and 2023 is showing signs of following suit. This is due to a flight to quality, with investors being highly selective in their investments and demanding best in class metrics and profitability. On the flip side, many companies meeting these criteria choose not to raise funds in the current market. This confluence of factors has led to a smaller pool of eligible companies and a decrease in Series C funding.Links:Links: The Fundraising RulesFollow us on Twitter: @mpd, @Mikeyjrog, @interplayPodcast Links: Website, YouTube, Twitter, LinkedIn

This week’s episode is a special one. I have a chat with my partner and CIO of the Interplay Family Office, Chris Zhang, to discuss China's remarkable advancements over the past few decades and what its current status looks like.Chris is uniquely positioned to opine on this topic. He was born in China and spent the first 16 years of his life there, moving to the United States for high school. Since his move, he has visited China annually until Covid-19 halted all travel. After a three year hiatus, Chris visited this past April and was astounded at the progress he witnessed, including how built up his hometown of Zhengzhou had become (known as the iPhone city since they’ve produced most iPhones there).That’s what inspired this episode. By challenging outdated perceptions and showcasing China's progress, this conversation is meant to highlight the need for a nuanced understanding of China's current status as a global powerhouse.Here are some of the main topics covered:Education and work ethic: Chris shares insights into his rigorous Chinese middle school experience, highlighting the dedication and discipline ingrained in the system.China's private sector contributes over 50% to GDP more than 80% of employment opportunities, fostering a competitive landscape and driving innovation.China's middle class has grown significantly, with the number of Chinese citizens enjoying a standard of living comparable to the US increasing steadily.Chinese technology companies are making significant strides, particularly in the electric vehicle (EV) industry, with high-quality, affordable EVs gaining popularity globally.China's infrastructure growth has been substantial, with the construction of entire cities and urbanization projects transforming landscapes previously dominated by farmlands and villages.The Chinese currency, the yuan, is gaining prominence, as demonstrated by its surpassing of the US dollar in Chinese cross-border transactions.Links:Links: Interplay Family OfficeFollow us on Twitter: @mpd, @interplayPodcast Links: Website, YouTube, Twitter, LinkedIn*DISCLAIMER*Interplay Family Office LLC (“Interplay”) is registered as an investment adviser with U.S. Securities and Exchange Commission (“SEC”). Registration of an investment adviser does not imply any level of skill or training. Information about the qualifications and business practices of Interplay is available on the SEC’s website at www.adviserinfo.sec.gov._ Interplay only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Offering of asset management services through Interplay is pursuant to an investment advisory agreement.The views expressed in this <<insert advert type, i.e., podcast>> are subject to change based on market and other conditions. The <<insert advert type>> may contain certain statements that may be deemed forward looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.Information communicated during the <<insert advert type>> does not involve the rendering of personalized investment advice but is limited to the dissemination of general market information. A professional adviser should be consulted before implementing any of the strategies or options presented. The <<insert advert type>> is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Neither Interplay nor its advisory persons render tax or legal advice. Please consult your tax and legal advisors for advice concerning your circumstances.

The podcast discusses the importance of launching a minimum viable product (MVP) promptly to validate a business idea. It explores the process of creating an MVP, identifying customer pain points, and measuring success. Additionally, it touches on the ongoing banking crisis and the risks of bank runs, as well as the potential benefits of having the FDIC ensure all bank deposits. The chapter concludes with a discussion on the implementation of FRB, a rescue package, and the state of the economy.

Here’s what’s covered on this week’s episode:The AI horse race and how it will affect the future of searchCrypto prices are up. Is the dark cloud of FTX gone?The Shanghai Upgrade for the Ethereum network.Startup Tip of the Week: Validating an MVPAn update on the inflation battle.Links:Links: Bruvi, Ethereum's Shanghai UpgradeFollow us on Twitter: @mpd, @interplay, @brettpalatiello, @MikeyjrogPodcast Links: Website, YouTube, Twitter, LinkedIn*DISCLAIMER*Interplay Family Office LLC (“Interplay”) is registered as an investment adviser with U.S. Securities and Exchange Commission (“SEC”). Registration of an investment adviser does not imply any level of skill or training. Information about the qualifications and business practices of Interplay is available on the SEC’s website at www.adviserinfo.sec.gov._ Interplay only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Offering of asset management services through Interplay is pursuant to an investment advisory agreement.The views expressed in this <<insert advert type, i.e., podcast>> are subject to change based on market and other conditions. The <<insert advert type>> may contain certain statements that may be deemed forward looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.Information communicated during the <<insert advert type>> does not involve the rendering of personalized investment advice but is limited to the dissemination of general market information. A professional adviser should be consulted before implementing any of the strategies or options presented. The <<insert advert type>> is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Neither Interplay nor its advisory persons render tax or legal advice. Please consult your tax and legal advisors for advice concerning your circumstances.

On this week’s episode, I interview Taylor Adams, a fifth-generation family member who is an entrepreneur, investor, and coach to families on multi-generational wealth. We discuss the challenges of managing wealth across generations while empowering individuals to find their purpose, as well as the importance of education, purpose, and giving back.Taylor suggests that money should be used to create opportunities and make a difference in the world and emphasizes the importance for families with wealth to tackle the challenges that come with generational wealth head on.Taylor provides valuable insights into the challenges and opportunities of multi-generational wealth. It is a must-listen for anyone who is interested in growing wealth for future generations.Links:Follow us on Twitter: @mpd, @interplayPodcast Links: Website, YouTube, Twitter, LinkedIn

This week's episode has a special guest, Vivian Wang - Founder and CEO of Landed. Landed is the first end-to-end recruiting platform helping restaurants and hospitality employers hire top-notch candidates fast. During the interview Vivian and I chat all about how Landed is making it easier for restaurants to hire folks (which is especially helpful due to the incredibly high turnover rates), how tech is and will affect the restaurant industry and strategies for navigating Y Combinator (which Vivian is a graduate of).In addition to the guest interview with Vivian, we have two partner meeting segments. Here’s what’s covered:Startup Tip of the Week: how/when to build your startup’s sales team.Blockchain: Brett shares news about a recent crypto airdrop from Arbitrum (an Ethereum Layer 2) and we discuss how crypto enables an amazing ability for open governance.Enjoy.Links:Links: LandedFollow us on Twitter: @mpd, @interplay, @brettpalatiello, @vivwang_Podcast Links: Website, YouTube, Twitter, LinkedIn*DISCLAIMER*Interplay Family Office LLC (“Interplay”) is registered as an investment adviser with U.S. Securities and Exchange Commission (“SEC”). Registration of an investment adviser does not imply any level of skill or training. Information about the qualifications and business practices of Interplay is available on the SEC’s website at www.adviserinfo.sec.gov._ Interplay only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Offering of asset management services through Interplay is pursuant to an investment advisory agreement.The views expressed in this <<insert advert type, i.e., podcast>> are subject to change based on market and other conditions. The <<insert advert type>> may contain certain statements that may be deemed forward looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.Information communicated during the <<insert advert type>> does not involve the rendering of personalized investment advice but is limited to the dissemination of general market information. A professional adviser should be consulted before implementing any of the strategies or options presented. The <<insert advert type>> is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Neither Interplay nor its advisory persons render tax or legal advice. Please consult your tax and legal advisors for advice concerning your circumstances.

Here’s what’s covered on this week’s episode:The fallout from SVB’s closure.Different strategies founders can keep in mind when deciding on where to keep and invest their cash reserves, including bond laddering.With the banking system's current status, there has been a lot of crypto activity. Brett breaks it down.Startup Tip of the Week: how to navigate advisor relationshipsLinks:Links: Rho | Business finances made frictionless, Chelsea Capital, Janet Yellen’s testimonyFollow us on Twitter: @mpd, @interplay, @brettpalatiello, @MikeyjrogPodcast Links: Website, YouTube, Twitter, LinkedIn*DISCLAIMER*Interplay Family Office LLC (“Interplay”) is registered as an investment adviser with U.S. Securities and Exchange Commission (“SEC”). Registration of an investment adviser does not imply any level of skill or training. Information about the qualifications and business practices of Interplay is available on the SEC’s website at www.adviserinfo.sec.gov._ Interplay only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Offering of asset management services through Interplay is pursuant to an investment advisory agreement.The views expressed in this <<insert advert type, i.e., podcast>> are subject to change based on market and other conditions. The <<insert advert type>> may contain certain statements that may be deemed forward looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.Information communicated during the <<insert advert type>> does not involve the rendering of personalized investment advice but is limited to the dissemination of general market information. A professional adviser should be consulted before implementing any of the strategies or options presented. The <<insert advert type>> is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Neither Interplay nor its advisory persons render tax or legal advice. Please consult your tax and legal advisors for advice concerning your circumstances.