Tank Talks By Ripple Ventures

Matt Cohen sits down with Robert Morier, a former global investment executive turned venture capital professor at Drexel University. Robert shares his non-traditional journey—from studying history to managing multi-billion dollar investment portfolios, and ultimately returning to education to mentor the next generation of startup founders and VCs. They discuss his experience teaching venture capital, how risk management in lifeguarding relates to investing, how podcasting helps drive awareness, and why universities need more real-world startup training.About Robert Morier:Robert Morier is a professor at Drexel University, specializing in venture capital, early-stage finance, and private market due diligence. He mentors entrepreneurs and conducts research on entrepreneurial mindset and risk management, drawing insights from his experience as an ocean lifeguard in Wildwood Crest, NJ.With 25 years in institutional investments, he has led business development and fundraising efforts at firms like Paradice Investment Management, Xponance, and Indus Capital, raising billions in assets across global markets. He also runs Twelve Pound Advisors, advising asset managers on growth strategies.Morier is the co-founder of Twelve Pound Productions, producing the Dakota Live! Podcast, where he interviews investors on finance, leadership, and market trends. He has served on the University of Vermont’s Grossman School of Business advisory board and supports nonprofit fundraising initiatives.Topics* (00:01:39) - How a love for travel led Robert into global investment roles* (00:03:04) - Spending years on the road and what ultimately led Robert to leave for academia* (00:04:06) - How working as a lifeguard shaped Robert’s perspective on leadership and risk management* (00:07:09) - Why VCs should start with risk assessment rather than leaving it for the end of due diligence* (00:09:53) - Teaching Venture Capital: Why VC education is still lacking in most universities and how Drexel is changing that* (00:12:47) - Why schools focus too much on investment banking exits rather than startup formation* (00:15:32) - How the Drexel Innovation Fund supports student-led startups with real investments* (00:19:35) - The importance of teaching students about mistakes, failures, and resilience in investing.* (00:24:58) - The story of AER Cosmetics, a sustainable mascara startup that grew out of Drexel’s entrepreneurial program* (00:30:21) - How schools can build better VC education and student-run investment funds* (00:36:25) - How the Dakota Live! Podcast came to be* (00:41:47) -  The biggest mistake fund managers make when pitching investorsRobert Morier’s Fast Favorites:* Favorite Podcast: The Overthink Podcast* Favorite Podcast for Venture Capital: Capital Allocators by Ted Seides, along with Dakota Live! and Tank Talks.* Favorite Newsletter or Blog: Alternatively Speaking by Christopher Schelling* Favorite Book: East of Eden by John Steinbeck* Favorite Tech Gadget: A landline phone* Favorite Life Lesson: “Who’s better than you? Nobody.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen and John Ruffolo talk about the BDC Capital $1B fund, the state of early-stage VC funding in Canada, and the rise of mega-deals dominated by U.S. investors. They also discuss the feasibility of the Quebec City-Toronto high-speed rail project, AI copyright lawsuits, potential Trump-era tariffs, and the future of open banking in Canada.Key TopicsBDC Capital’s $1B Growth-Stage Investment Fund (00:42)* BDC Capital announces a $1B investment fund, with:* $500M Growth Venture Fund for direct investments and co-investments.* $450M Growth Equity Partners Program for minority stake investments in mid-market companies.* Concerns were raised by Mark McQueen about lack of early-stage funding* John Ruffolo’s take:* Canada’s early-stage VC ecosystem is underfunded.* BDC was meant to focus on riskier, early-stage investments, while EDC (Export Development Canada) focused on growth-stage.* Shift towards later-stage funding may leave early-stage startups without necessary capital.Canadian Venture Capital Funding Trends (04:55)* CVCA’s 2024 report:* $7.86B invested across 592 deals, up 10% from 2023.* Mega deals ($50M+ rounds) comprised 62% of total VC investments.* Seed-stage funding fell 50% to $510M.* Notable mega-deals:* Clio – $1.24B Series F* Cohere – $616M Series D* Blockstream – $289M convertible note* Waabi – $275M Series B* U.S. investors dominate:* 32% of Canadian VC deals had U.S. investor participation.* Clio’s round was entirely U.S.-funded.* John Ruffolo’s analysis:* Canada needs stronger domestic venture capital.* U.S. capital will always flow into late-stage companies, but early-stage funding is crucial for long-term ecosystem growth.* Lack of Canadian IPOs in 2024 is a concerning sign.Quebec City-Toronto High-Speed Rail: $90B Boondoggle? (09:17)* Massive infrastructure proposal:* $60B–$90B price tag, with $3.9B allocated to planning alone.* Construction won’t begin for at least five years, taking 5–7 years per segment.* Criticisms:* Timing is political (announced right before an election).* Where is the funding coming from? Canada’s finances are already stretched.* Route selection is questionable – e.g., Laval getting a stop over Mississauga/Brampton.* John Ruffolo’s take:* Financial viability is unclear – pension funds won’t invest without guarantees of ridership.* Other priorities (e.g., Arctic infrastructure, national security) are being ignored.* The government should invest in digital infrastructure instead (e.g., full 5G coverage).AI Copyright Lawsuits: Cohere vs. Media Giants (14:35)* Major media coalition (The Atlantic, Forbes, The Guardian, Vox, etc.) sues AI startup Cohere for copyright infringement in New York.* Allegations: Cohere scraped and displayed copyrighted content without permission.* Seeking $150K per work infringed + an injunction against Cohere using their content.* Growing legal pressure on AI companies:* NY Times vs. OpenAI – potentially setting a massive precedent.* Anthropic, Meta, and Thomson Reuters have faced similar lawsuits.* John Ruffolo’s view:* Copyright concerns were always an issue for AI models.* AI startups may have to pay into a licensing pool (like the music industry).* Investor risk increasing – legal uncertainties may impact funding for public LLMs.Trump’s Potential Tariffs: What Canada Should Do (19:25)* Trump’s trade policies likely to return if re-elected, impacting Canadian businesses.* John Ruffolo’s recommendations:* Canada must fix internal issues first (e.g., interprovincial trade barriers).* Tariffs won’t disappear for at least four years, so businesses must adapt.* Canadian businesses will have to shift profits & operations to the U.S. to remain competitive.The Future of Open Banking in Canada (22:00)* U.S. fintech sector gains a boost as Trump administration removes CFPB regulations.* Chime & Klarna expected to benefit from deregulation.* Canadian Conservatives promise major push for open banking if elected.* Liberals have been slow to act on open banking despite six years of promises.John Ruffolo’s perspective:* Open banking will make Canadian banks stronger, not weaker.* Canada must prepare for U.S. competition in financial services.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen sits down with Amber Kanwar, a longtime financial journalist and former BNN Bloomberg anchor, who recently made the bold leap into independent media with her new podcast, In the Money. Amber shares her journey from an ambitious intern at BNN to becoming one of Canada’s most recognizable financial voices.She recounts how she overcame imposter syndrome in the high-stakes world of financial journalism, the real lessons she learned from industry giants, and the importance of clear communication in a jargon-filled industry. Amber also reveals the investigative journalism story that put her on the map—a shocking fertility fraud scandal that led to a national reckoning.Leaving behind a prestigious legacy media role wasn’t easy, but Amber explains why she chose to go solo, the structural challenges traditional media faces, and why she believes the future belongs to independent content creators. About Amber Kanwar:Amber Kanwar is one of Canada’s most trusted and recognizable business journalists. For over a decade, she was a familiar face on Canada’s flagship business channel, BNN Bloomberg. She has appeared as a contributor on CTV and Bloomberg in the US. She has interviewed hundreds of portfolio managers, CEOs, political leaders and newsmakers. She has a reputation for asking the right questions, putting the viewers’ interests first and having a deep knowledge of the financial markets. She brings her signature authenticity and charm to the show, stress-testing ideas to make sure investors have all the information they need to make moves.Topics:* (01:25) – Amber’s early career at BNN and breaking into financial journalism* (01:41) – Overcoming fear and using it as a motivator* (02:09) – The importance of starting from the bottom and learning every role* (04:56) – Amber’s groundbreaking investigative journalism piece on fertility fraud* (09:16) – Transitioning from investigative journalism to financial news* (10:26) – The journey from intern to producer to on-air host at BNN* (11:38) – The importance of mentorship in media careers* (13:05) – How Amber developed her financial knowledge through guest interviews* (14:26) – Learning to turn complex financial news into engaging stories* (15:48) – The impact of simplifying financial jargon for broader audiences* (18:26) – Why Amber left BNN Bloomberg after 15 years* (22:02) – The vision for In the Money and why long-form content is valuable* (23:46) – How independent media can move faster than legacy media* (25:09) – The shift to digital-first journalism and YouTube podcasting* (26:26) – Investing philosophies: Amber’s biggest lessons from the pandemic* (30:26) – The role of media in shaping market sentiment* (32:09) – Alternative investments: Are they worth it?* (33:38) – The future of In the Money and expanding AK Media* (35:23) – The shift in media consumption habits and the opportunity for new players* (38:46) – The importance of clear communication in finance* (40:02) – The hardest part of going independent: identity & brand-building* (41:38) – How Amber approaches guest preparation differently from legacy media* (43:23) – Building a media brand: Monetization, distribution, and content strategy* (45:09) – What legacy media gets wrong about digital content* (47:26) – Why niche content is thriving while traditional news strugglesFast Favorites📻 Favorite Podcast: SmartLess, Conan O'Brien Needs a Friend, Seth Meyers’ Podcast, Gettin’ Savvy by Catherine Murray and Strictly Money by Sejal Patel📰 Favorite Newsletter or Blog: Jim Reid’s Early Morning Read (Deutsche Bank)📱 Favorite Tech Gadget: iPhone & Continuous Glucose Monitor (CGM)📈 Favorite New Trend: Podcasting on YouTube📖 Favorite Book: Educated by Tara Westover🎓 Favorite Life Lesson: "Shortcuts take you the long way."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode, Matt welcomes Willson Cross, the co-founder and CEO of Borderless AI, to discuss how AI is transforming the global HR and payroll industry. Willson shares his entrepreneurial journey, from founding and selling GoFetch to launching Borderless AI. They explore how AI-driven compliance, payroll, and onboarding are solving key challenges in hiring global teams. Willson also talks about the company’s $35M funding, its partnership with Cohere, and how they differentiate from major competitors like Deel and Rippling.About Willson Cross:Willson Cross is the Co-Founder and CEO of Borderless AI, a global payroll platform that uses generative AI to streamline hiring, managing, and paying international employees. Since launching in 2023, the company has raised $27 million from top investors, including Susquehanna and Bernard Arnault. Based in Toronto, Willson leads the team in building AI-powered solutions for the future of work.Before Borderless AI, Willson co-founded GoFetch, Canada’s leading pet services marketplace. Starting from his basement in 2015, he grew the company to seven markets, raised $3.5 million, and led a team of 45 before selling the business in 2018. Earlier, he launched UBC Bitcoin Jobs, an online job board that connected university students with cryptocurrency startups, matching over 80 students to 20 companies.Originally from Vancouver, Willson studied economics at New York University before leaving after his third year to pursue startups full-time.⏱ Topics* (1:26) – Willson’s background & founding GoFetch* (2:59) – Key lessons from running a bootstrapped startup* (4:55) – The transition to Borderless AI & identifying HR’s biggest challenges* (6:33) – Payroll & benefits: The first major opportunities* (6:52) – Building real-time global payroll infrastructure* (7:50) – Meeting co-founder Sean Agarwal & forming a strong partnership* (9:45) – AI’s role in HR compliance, payroll & automation* (12:04) – How Cohere’s AI models enhance HRGPT* (15:48) – Competing with Deel & Rippling as an AI-native company* (18:19) – Pricing strategy & product differentiation* (19:13) – How AI is transforming HR roles* (20:47) – The shift toward larger early-stage funding rounds* (24:30) – Target customers: Startups & large enterprises* (27:41) – Why Borderless AI chose a full in-office model🎯 Fast Favorites🎧 Favorite Podcast: 32 Thoughts📩 Favorite Newsletter/Blog: SaaStr by Jason Lemkin📱 Favorite Tech Gadget: Old-school wired headphones📈 Favorite New Trend: No-meeting Wednesdays📚 Favorite Book: How to Know a Person – David Brooks💡 Favorite Life Lesson: “It’s not what is said, but how it’s said.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

This episode analyzes the latest trade tensions between the U.S., Canada, and Mexico, exploring Trump’s recent tariff decisions and their economic impact. Matt Cohen and John Ruffolo discuss Canada's political inaction, the rise of the Build Canada initiative, and the massive AI infrastructure investments by tech giants. They also break down StackAdapt’s explosive growth and its implications for the Canadian startup ecosystem.Topics(00:42) Trump’s Trade War: Winners & Losers(06:00) Canada’s Delayed Government Response(09:30) The Launch of Build Canada(14:00) Shifts in Liberal Party Leadership(17:00) StackAdapt’s Rise & $235M Investment(20:00) AI’s CapEx Boom – Smart Play or Overspend?Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Matt Cohen welcomes Niklas Halusa, Co-Founder and CEO of Nautical Commerce, to explain how his company makes starting and running marketplaces easier. Niklas shares lessons from his venture capital experience, how to choose the right customers, and why marketplaces succeed or fail. He also talks about fundraising, managing growth, and what startup founders can learn from Formula 1 racing.About Niklas Halusa:Niklas Halusa is the Co-Founder and CEO of Nautical Commerce, where he has led the company since September 2023 after serving as its President for over three years. At Nautical, he focuses on simplifying marketplace creation and advancing digital commerce solutions.Before starting Nautical Commerce, Niklas worked on the investment team at Activant Capital, a firm specializing in commerce and technology-focused growth-stage businesses. Prior to Activant, Niklas held leadership roles at Turvo Inc., a supply chain collaboration platform which was acquired by Lineage Logistics for over $200 million. Earlier in his career, he worked in investment banking at Bank of America Merrill Lynch and at eToro.Niklas earned a Bachelor’s degree in Economics from Harvard University.Topics:(01:15) Niklas shares his upbringing across Europe, his time in the U.S., and how his international background shaped his career(02:17) Niklas discusses his early work at Activant Capital, how he stumbled into venture capital, and what drew him to marketplace technology(05:56) The challenges and inefficiencies in marketplace infrastructure that inspired the creation of Nautical Commerce(08:00) Why startups should focus on their ideal customer profiles (ICP), how the wrong customers can harm growth, and why it’s crucial to say no(11:45) Niklas explains how marketplaces evolve, why there’s still room for new entrants, and how niche players can disrupt legacy platforms like Amazon(18:06) The experience of raising $30 million during the COVID-fueled e-commerce boom, and the importance of finding investors who align with your vision(25:00) Creative ways marketplaces can make money, such as seller subscriptions, logistics services, and data-driven value-adds beyond basic commissions(30:00) How marketplaces can use search data and customer insights to increase sales, attract more buyers, and better serve sellers(33:00) Strategies for reducing churn and building long-term trust in marketplaces by focusing on supplier quality and buyer-seller stickiness(37:00) Lessons from Formula 1: the value of focusing on one problem at a time, resource prioritization, and how it applies to running startups(41:00) Advice for founders: Test your idea while keeping your day job to gain conviction before fully committing to entrepreneurshipFast Favorites:* Favorite Podcast: How I Built This and F1 Beyond the Grid* Favorite Newsletter or Blog: Stratechery* Favorite Tech Gadget: Eight Sleep Pod,* Favorite New Trend: Antitrust movements, particularly those supporting small businesses* Favorite Book: Children of Time by Adrian Tchaikovsky* Favorite Life Lesson: “Success is going from failure to failure with no loss of enthusiasm.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode, Matt Cohen chats with Wendy Li, the co-founder and Chief Investment Officer of Ivy Invest, about her journey from managing institutional endowments to founding a fintech startup. Wendy shares insights from her experiences at the Metropolitan Museum of Art, the UJA Federation of New York, and the Mother Cabrini Health Foundation.She highlights her decision to leave a traditional allocator role to build Ivy Invest, a platform democratizing access to institutional-quality investments for retail investors. Wendy discusses the challenges of being a first-time founder, how emerging managers can build trust with institutional investors, and the long-term lessons from her career.About Wendy Li:Wendy Li is the Co-Founder and Chief Investment Officer of Ivy Invest, a platform that helps individual investors access investment portfolios similar to those used by big institutions. She has over 10 years of experience managing large investment funds and holds a Chartered Financial Analyst certification.Before starting Ivy Invest, Wendy was the Managing Director of Investments at the Mother Cabrini Health Foundation, where she set up the investment office and managed $4 billion. At the UJA-Federation of New York, she oversaw a $1 billion endowment and a $400 million pension plan. Her career began at the Metropolitan Museum of Art, where she worked as a Senior Investment Analyst.Wendy studied at Columbia University, where she earned her Bachelor’s degree.Topics(01:13) Early Career Journey: Wendy shares her upbringing in Pennsylvania, moving to NYC, and her entry into finance at Columbia University.(02:30) First Role at the Met Museum: Insights from working with an established portfolio, sitting across high-profile investment committee members, and lessons on portfolio management.(04:51) The Transition to UJA: Managing a new investment office, building credibility with a seasoned investment committee, and reshaping a hedge fund-heavy portfolio.(06:57) Influence of David Swensen: Learning from Swensen's Yale Model and its focus on alternative investments, plus her direct exposure to the Yale network through colleagues.(09:48) Building Ivy Invest: Why Wendy left the endowment world to create Ivy Invest, the challenges of launching an SEC-registered fund, and solving access and complexity barriers for individual investors.(19:14) Fund Structure: Ivy Invest’s single-fund strategy blending public and private investments, its interval fund structure, and quarterly repurchase options for investors.(24:11) Emerging Manager Advice: Key strategies for preparing to meet with institutional investors, understanding their specific needs, and how to build trust over time.(28:17) Long-Term Relationships: Why personal rapport, patience, and a deep understanding of both LPs and your own strategy are essential for emerging managers.(31:17) Lessons as a First-Time Founder: Transitioning to a fintech startup, learning to navigate the tech and regulatory landscape, and unexpected challenges like user access glitches.(36:38) Co-Founders and Team Dynamics: The complementary skills of her co-founders, balancing optimism with risk awareness, and maintaining trust and humor through challenges.(38:42) Brand Awareness and Challenges: Educating retail investors about their eligibility and building recognition for Ivy Invest’s mission.(39:54) Surprises from Early Investors: The diversity of early adopters and how their demographics exceeded initial expectations.Fast Favorites* Favorite Podcast: How I Built This* Favorite Newsletter: Matt Levine’s Money Stuff* Favorite Tech Gadget: iPhone* Favorite Trend: Established alternative investment managers opening access to retail investors* Favorite Book: A Tree Grows in Brooklyn by Betty Smith* Favorite Life Lesson: “Finish what you start.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

This episode analyzes the latest developments in U.S. policy and how they intersect with business, innovation, and Canadian economic strategies. Matt Cohen and John Ruffolo discuss Trump’s second-term inauguration, Canada’s potential responses, and the growing trend of venture capital firms adopting private equity-style roll-up strategies.Topics(00:42) Trump’s Second-Term Inauguration(02:40) Key US Policy Announcements(05:00) Canada’s Preparedness vs. Reaction in Policy (09:03) Alberta’s Independent Strategy(13:11) Shifts in Liberal Party Leadership(16:31) Venture Capital Adopts Roll-Up Strategies(21:15) Challenges for Venture Roll-UpsFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, Matt Cohen welcomes back Rob Khazzam, CEO of Float, along with John Ruffolo, to discuss Float's recent $70M Series B funding led by Goldman Sachs, the challenges of building a fintech company in Canada, and the broader state of entrepreneurship in the country.Rob shares insights into Float's mission to simplify financial operations for Canadian businesses, emphasizing innovation in a heavily regulated industry. He reflects on the lessons learned from previous funding rounds and how Float adapted to market shifts. The conversation expands to challenges in Canadian policy, the need for a vibrant knowledge economy, and the role of government in fostering innovation.About Rob Khazzam:Rob Khazzam is the Co-Founder and CEO of Float, a Canadian company dedicated to simplifying corporate spending for businesses and teams.Previously, Rob served as an advisor to Framework Venture Partners and was the Managing Partner at Great Mountain Partners, an investment firm focused on acquiring majority stakes in Canadian businesses. He also worked at Uber for over five years, holding various leadership roles, including General Manager for Canada and Central & Eastern Europe.Rob earned an Honours Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario in 2009.Topics Discussed:(03:24) The founding story of Float, inspired by solving the inefficiency of expense reports. He reflects on the challenges Canadian businesses face in accessing modern financial tools, such as corporate cards.(05:20) Float’s Series A funding and navigating the 2022–2023 market downturn. Rob emphasizes how Float balanced rapid growth with sustaining operations during challenging times(10:00) Float's approach to partnerships and funding, emphasizing long-term vision and sustainable growth over short-term wins or valuations and the alignment with Goldman Sachs as a strategic partner.(13:41) Exploration of payment inefficiencies and their impact on Canadian businesses.(17:45) Rob describes Float’s commitment to trust, compliance, and risk management in a highly regulated fintech environment.(20:24) A broader discussion on Canada's entrepreneurial ecosystem and the importance of celebrating entrepreneurship and implementing proactive policies, such as open banking, to enhance Canada's knowledge economy.(25:54) Critiques of Canada’s economic policies, advocating for a focus on intentional knowledge economy growth and smarter immigration strategies to boost per capita GDP.(35:29) Personal reflections on Rob’s time in Europe, which gave him perspective on Canada’s multicultural strengths and opportunities for economic unity.(40:16) A discussion on the importance of standing up for Canadian values, addressing social tensions, and fostering national unity against divisive identity politics.(50:42) Float’s goals for the next 12–18 months, including delivering an optimized business banking experience, helping customers achieve better ROI, and significantly reducing user time spent on Float’s platform.Fast Favorites:* Podcast: Invest Like the Best (business), Spittin’ Chiclets (sports).* Blog: Stratechery* Tech Gadget: iPhone* New Trend: Cold plunging to manage stress and anxiety* Book: No Rules Rules by Reed Hastings and Erin Meyer* Life Lesson: "Believe in yourself more than you actually do."Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Host Matt Cohen talks with Dave Lambert, founder and managing director of Right Side Capital Management. Founded in 2009, Right Side takes a quantitative, data-driven approach to early-stage investments, focusing on capital-efficient tech startups. It has funded over 2,000 companies, offering rapid investment decisions and fostering innovation in the fragmented seed-stage funding market.Dave explains how Right Side invests in very early-stage startups using data instead of gut feelings. He also discusses how technology, like AI, is changing startups and shares stories from his career.About Dave Lambert:Dave Lambert is the Founder and Managing Director of Right Side Capital Management, a pre-VC stage investment firm based in San Francisco. Before founding Right Side Capital, Dave was the CEO and Founder of WorkMetro Inc., a network of local online job boards operating across major U.S. metropolitan markets. He successfully expanded the company to over 20 markets before its acquisition by Jobing.com in 2008. Earlier in his career, he founded Acorn Computer, Inc., which provided IT solutions to businesses and institutions in the San Francisco Bay Area for over a decade.Dave earned his Bachelor of Science degree from Stanford University, specializing in Values, Technology, Science & Society with a focus on Artificial Intelligence.Topics* (01:15) Dave’s background growing up in Denver, his entrepreneurial beginnings with a computer hardware company, and how those experiences led to founding Right Side Capital* (03:26) How The Black Swan by Nassim Taleb influenced the creation of Right Side Capital, focusing on “positive black swans” (startups with unexpected, outsized success)* (05:53) Understanding the Power Law in Venture Capital* (08:39) How Right Side makes investment decisions, often providing a “yes” or “no” within a week and why they focus on startups with small funding needs and clear metrics* (11:48) What Metrics Right Side Looks For* (16:11) TradingView: A Success Story* (21:08) Impact of AI on Startups* (25:56) Low-Headcount Companies Thriving* (28:37) Changing Founder mindsets toward profitability and capital efficiency rather than raising successive funding rounds* (29:04) Tax Benefits for Venture Investors* (33:26) The Role of Accelerators* (36:40) Challenges in VC Fundraising and Innovation* (40:00) Resilient Entrepreneurs* (43:10) Dave’s Tech and Productivity SetupDave Lambert's Fast Favorites* Favorite Podcast: Slow Burn* Favorite Newsletter/Blog: Dave doesn’t have a single favorite but enjoys reading a variety of blogs and newsletters, especially about tech, venture capital, and economics.* Favorite Tech Gadget: Golf simulators* Favorite New Trend: Entrepreneurs focusing on profitability as the main goal instead of just raising money* Favorite Book: Extreme Ownership by Jocko Willink and Leif Babin – A guide on leadership and accountability, teaching lessons from Navy SEALs.* Favorite Life Lesson: “Believe in yourself and trust your own judgment.”Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com