Sourcery

Molly O'Shea speaks with Christian Garrett, Partner at 137 Ventures. Christian shares his insights on the current state of private markets, the mechanics of high profile secondaries, and the growing liquidity squeeze faced by VCs.We also take a closer look at SpaceX's financing history, how 137 Ventures got involved, and why SpaceX runs tenders every six months. Christian discusses the potential reopening of the IPO window, the rise of generational talent from companies like Anduril, SpaceX, and Palantir, and why he thinks defense tech might be overrated right now.Other highlights include the evolving relationship between Silicon Valley and Washington, D.C., government initiatives like the Replicator Initiative and FedRAMP, and the origins of the Hill & Valley Forum. On a personal note, Christian reflects on his career journey, his mentorship with Trae Stephens, and shares some spicy hot takes on topics like return-to-office policies, San Francisco’s future, and his unexpected bullishness on Europe.If you're interested in venture capital, private markets, or the intersection of tech and policy, this is a must-watch episode!Molly on X: https://x.com/MollySOSheaChristian on X: https://x.com/CGarrett_15Follow Sourcery for the latest updates! https://www.sourcery.vc/TIMESTAMPS:00:00 - Welcome to Sorcery: Christian Garrett's Journey00:39 - How Secondaries Work: SpaceX, Figma, Ramp, Plaid, Databricks04:46 - 137 Ventures: Origin and Investment Thesis06:36 - SpaceX: A Case Study in Private Market Success10:38 - The Benefits of Staying Private18:28 - Generational Talent in Tech: Anduril, SpaceX, Palantir21:07 - Defense Tech: Opportunities and Challenges26:02 - Tech and Government: Building Stronger Partnerships34:25 - Hill and Valley Forum: Bridging Tech and Policy38:58 - Christian's Journey to Becoming a Partner42:02 - Trae Stephens & The Role of Mentorship in Success43:45 - Helping Founders Beyond Capital52:00 - Christian's Spicy Takes on Industry Trends01:02:54 - The Future of 137 Ventures01:09:31 -  Looking Forward: Exciting Prospects Ahead#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

Behind the Magically Weird: Arielle Zuckerberg on Long Journey Ventures, Unique founders, and Purpose-Driven InvestingMolly O'Shea speaks with Arielle Zuckerberg, diving into her journey at Long Journey Ventures, discussing her unique investment philosophy and the importance of purpose-driven investing. From her hobbies like skiing and DJing to the critical lessons learned from legendary mentor John Doerr, Arielle shares how she evaluates founders using the 'Rizz and Tiz' theory. We uncover Long Journey's creative diligence adventures, the value of unusual startup ideas, and how Long Journey Ventures fosters a unique community for 'magically weird' founders. Whether you're an investor or startup enthusiast, gain insights into navigating the fast-changing VC landscape and focusing on the human element of investing.Follow Sourcery for the latest updates! https://www.sourcery.vc/Molly on X: https://x.com/MollySOSheaArielle on X: https://x.com/ariellezuckTIMESTAMPS:0:00 - Welcome Arielle To Sourcery!01:22 - The Rizz and the Tiz Theory05:31 - Lessons from John Doerr08:49 - VC Twitter and Deal Flow17:01 - $100M ARR AI Companies22:05 - Portfolio Companies: Superpower, Autopallet31:45 - Building a Vibrant Founder Community36:43 - The Role of Purpose39:52 - Hot Takes on Venture Capital42:21 - The "Bubbe" Philosophy44:19 - Looking Forward: Personal and Professional Goals#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

Tarek Mansour, Co-founder and CEO of Kalshi, shares insights from his journey in creating a regulated prediction market. He discusses the shift of prediction markets into mainstream finance and their potential to rival traditional investments. Tarek dives into the unique regulatory challenges he faced, including a surprising lawsuit against the government. He emphasizes the distinction between gambling and investing, and envisions a future where trading on real-world events becomes accessible to everyone, touching on everything from politics to sports.

Dylan Diamond, Co-founder and CEO of Saturn, shares his inspiring journey from high school project to viral Gen Z calendar app, raising over $68M from notable investors like Jeff Bezos. He discusses the innovative strategies for user retention across 18,000 schools and the AI integration shaping the app's future. Dillon also reveals insights on Gen Z's influence on product development, a unique sustainable advertising model tailored for young audiences, and the challenges of navigating the competitive consumer social landscape.

Packy McCormick, a writer and investor known for his newsletter 'Not Boring,' shares insights on how his writing journey transformed into a $50M VC fund. He discusses the art of storytelling in venture capital and highlights the magnetic traits of successful founders. Packy dives into the balance between intuition and analysis in investing while exploring the impact of vertical integrators in various industries. He also shares his hot takes on AI and reveals what he's most excited about for 2025.

Today Molly O’Shea speaks with Founding GP Gordon Ritter & new Partner Yaz El-Baba of $2.3B AUM VC fund Emergence Capital. We cover everything from the IPO window, Stargate, the macro environment, the state of AI, the app layer to infrastructure, preventing the AI plateau, to Emergence’s history & evolution. Emergence Capital is a venture capital firm known for its specialization in early-stage investments in enterprise cloud software companies. The firm's focus is on businesses that leverage technology to improve workplace productivity, business outcomes, and the customer experience. Emergence is widely regarded as a pioneer in the SaaS (Software-as-a-Service) space and has backed some of the most successful companies in the category, such as Salesforce, Veeva, Box, Yammer, Bill.com, Zoom, Blend, and Doximity. Founded in 2003, Emergence Capital operates with a philosophy of fostering long-term partnerships with entrepreneurs and helping them build world-class companies. Notable Investments: Salesforce (CRM software giant) Zoom (video conferencing leader) Veeva Systems (cloud solutions for life sciences) Box (cloud-based content management) Emergence Capital is recognized for its deep commitment to its portfolio companies and its expertise in scaling enterprise-focused startups. Stats: $320B+ Market Cap of Portfolio (current and former) $2.3B AUM Six (VI) Funds 100+ Portfolio Companies 20 Exits and Private Valuations Greater than $500 Million Molly on X: https://x.com/MollySOShea Gorfon on X: https://x.com/gordonritter Yaz on X: https://x.com/yazanelbaba Follow Sourcery for the latest updates!  https://www.sourcery.vc/ TIMESTAMPS: 0:00 - Welcome Yaz & Gordon! 1:20 - Current State of VC 6:45 - Emergence's IPOs, Salesforce, Zoom, Bill.com 10:00 - Veeva $37B story 18:10 - Stargate $500B Investment In AI 21:20 - ROI of AI 29:50 - Is SAAS Dead?! 32:30 - Together AI 38:40 - Which Founders Will Win Today? 41:00 - The AI Plateau 58:00 - How Marc Benioff Helped Start Emergence 1:03:10 - Navigating Changes In The Market 1:09:30 - Resolving Partner Tensions In A Fund 1:13:40 - Investment Announcement! 1:16:00 - 1 Deal That You Regret 1:17:50 - Yaz & Gordon's 2025 Outlooks #podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

Tomasz Tunguz is a prominent venture capitalist and the founder & GP of Theory Ventures, a $688M AUM fund. Theory focuses on investing $1-25m in early-stage companies that leverage technology discontinuities into go-to-market advantages. Before Theory, he was a managing director at Redpoint Ventures, where he led investments into companies such as Looker, Expensify, Monte Carlo, Dune Analytics, and Kustomer. Throughout his career, Tunguz has been recognized for his data-driven approach to investing and his very popular, personal blog, TomTunguz.com. Tomasz recently raised $450 million in November of 2024 for Theory Ventures' second fund, which marks a significant milestone for the firm. This follows his initial breakout fund, launched in 2023, with $238 million. This is a very fun conversation where we go deep into everything AI, LLM business models, predictions, and more. Molly on X: https://x.com/MollySOShea Tomasz on X: https://x.com/ttunguz Follow Sourcery for the latest updates!  https://www.sourcery.vc/ TIMESTAMPS: 0:00 - Welcome Tomasz To Sourcery 1:00 - State of AI Adoption 6:45 - Hyperscaler Power Dymnmic 9:50 - AI Inference 15:00 - Monetizing 20:00 - Raising $600B 28:00 - Decade Of Data 33:30 - Parterning with Former Palantir Executive 35:45 - Tomasz's Childhood 37:40 - What Is Tomasz Looking Forward To The Most This Year #podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

Joe De Sena is the founder and CEO of Spartan Race, Inc. In this conversation, we discuss Joe’s 20+ years of Spartan Race, surviving covid, acquiring competition and investing in fitness companies. We also get into fitness tips, what to avoid, and how you can train for a Spartan Race. Follow Sourcery for the latest updates!  https://www.sourcery.vc/ Molly on X: https://x.com/MollySOShea Joe on X: https://x.com/realJoeDeSena TIMESTAPS: 0:00 - Welcome Joe De Sena To Sourcery! 0:30 - Mental Resilience 3:30 - Creating A Resilience Flywheel 5:20 - Building Spartan Race For 20 Years - Surviving Covid 8:15 - The Spartan Cult 12:15 - How Tech Will Improve Spartan Race 14:00 - Biggest Lesson Of The Last 24 Years 16:30 - Chasing Money vs. Purpose 18:30 - Acquiring Competition & Scaling 21:00 - Thoughts On Investing In The Fitness Industry 23:15 - Worst Fitness Trend That Joe Fell Into 26:25 - How To Approach Fitness In The New Year 31:40 - Training For Spartan Race 33:25 - What Joe Is Most Excited About For 2025 #podcast #investing #venturecapital #business #saas

Cyan Banister, co-founder of Long Journey Ventures, and Lee Jacobs, focused on investing in 'Magically Weird' companies, share their insights on unconventional startups. They discuss creating deep connections at networking events and highlight how spirituality is reshaping business in Silicon Valley. The duo reflects on aligning profit with purpose and the importance of community among founders. Their unique approach has led to investments in groundbreaking companies like SpaceX and Uber, driving a shift in venture capital attitudes.

Lucy Guo, a prominent entrepreneur and investor known for her role at Scale AI, shares insights from her studio in Los Angeles. She discusses the future of the creator economy, emphasizing the shift toward direct fan support and the emergence of diverse revenue streams. Lucy also highlights the decline of legacy media and the rise of independent journalism driven by trust issues. Additionally, she reveals effective fundraising strategies that helped her raise $50 million in two years, alongside her philanthropic aspirations to combat human trafficking.