Tank Talks By Ripple Ventures

Fundraising can be one of the most daunting tasks as a founder or even for a fund manager like me. If you just google how to fundraise, you get millions of results, a lot of conflicting information and it can all be overwhelming. Our guests today, Leslie Fine and Jonathan Lowenhar are looking to help solve that for founders by being a trusted source of coaching and advice with their startup advisory firm, Enjoy The Work.About Jonathan Lowenhar:Jonathan is an operator who successfully built a $1B business segment for a large public company, guided the turnaround of a distressed $100M+ revenue business, launched and sold a venture-backed startup, and led a B2B SaaS business to global-scale.In 2015, he founded Enjoy The Work, a firm of expert early-stage operators who have combined their considerable skills to advise the next generation of startups to launch, grow, and reach scale.About Leslie Fine:In 2008, Leslie founded Crowdcast, and successfully exited the company in 2012. Following Crowdcast, she helped lead three more startups, and landed at Salesforce to help launch their first AI product. She joined Enjoy The Work in 2019 as a General Partner. She has a PhD in Game Theory and Behavioral Economics from Caltech.In this episode we discuss:01:21 Leslie’s journey into the startup ecosystem03:43 Jonathan’s journey into the startup ecosystem06:38 Why they had to leave her corporate job to return to startups08:48 What about working with startups that excited Leslie11:21 Why fundraising is so much more than building a pitch deck and hope isn’t a strategy14:36 Other things founders need to think about when entering a fundraise and why being defensive is the death of a fundraising effort17:52 Investors are looking for no, not looking for yes19:02 Entrepreneurs need to understand that investors also have bosses, so make their jobs easy22:14 Why fundraising is a sales funnel that deserves scrutiny at every stage of the process24:48 Being arrogantly likable as a founder during a fundraising process26:09 The four different playbooks for fundraising30:22 Having a support person on the road to fundraising32:00 The third rails of fundraising41:42 Managing emotions during the fundraise44:22 Warm intros vs. cold introsLeslie’s Fast FavoritesPodcastThe IndicatorNewsletter/BlogTomasz TunguzTech GadgetTheragunNew TrednFemale EntrepreneursBookAlice in WonderlandLife LessonIf it takes less than 5 minutes, just do it.Jonathan’s Fast FavoritesPodcastThe Bill Simmons PodcastNewsletter/BlogScott GallowayTech GadgetAir FryerNew TrendSoft PantsBookThe FountainheadLife LessonDon’t keep scoreFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Onboarding is a pain point in hiring, but also when bringing new customers up to speed. Not only can it be difficult to navigate as a consumer, but it can be difficult to produce the materials and tutorials in the first place. Our guest today is aiming to fix all of that, Jennifer Smith is the Co-Founder and CEO of Scribe, a platform that makes manuals a thing of the past. She talks to us about how her platform works, what it was like fundraising while pregnant, and how her background in consulting and VC prepared her for life as a startup founder.About Jennifer Smith:Jennifer Smith started her career in consulting at McKinsey. She left to join Coatue and then Greylock Partners, heading up their CXO Program. In 2019 she Co-Founded Scribe. She did her undergrad at Princeton and has an MBA from Harvard Business.In this episode we discuss:01:37 How consulting helped her become an investor03:01 Early experiences that showed Jennifer the connection between finance and tech04:56 Knowledge is not evenly distributed and how to tap into that05:47 Her experience at Greylock Partners and how it prepared her to be a founder07:54 Jennifer’s advice to VCs11:06 Fundamental problems large organizations face and how smaller companies can help solve them13:42 Employee onboarding difficulties companies face14:48 When Jennifer started thinking about launching Scribe17:16 Meeting her co-founder19:05 Why they built in stealth for over a year20:45 Early customer hypotheses’s that proved wrong22:03 How Scribe actually works24:37 Scribe’s cross-platform functionality28:26 Is video a good platform to help onboarding30:15 Use cases Jennifer is seeing for Scribe32:30 How she fundraised her Series A34:01 Some of her most helpful Angel Investors36:05 Why founders should push back against Lead investors to fit in more strategic angelsFast FavoritesPodcastPlanet MoneyNewsletter/BlogAllison PickensTech GadgetSiri DictationNannetteNew TrendThe 90’s aestheticBookWallace WattlesLife LessonGeneralists are overrated.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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

There’s a lot of hype around AI—both its capabilities and the extreme predictions of its utility and potential harm to society. Our guest today is using AI to help reduce harm by detecting fraud at scale in the financial sector. Ronan Burke is Co-Founder and CEO of Inscribe, a platform that has a mission to save billions of dollars lost to fraud by onboarding trusted customers faster and finding bad-faith users quicker using AI.About Ronan Burke:Ronan Burke is the Co-Founder of Inscribe.ai, which he founded after graduating from University College in Dublin. He participated in YCS18 and Inscribe is trusted by companies like BlueVine, Petal, Fair, and Ramp, and backed by Y Combinator, Uncork Capital, Crosslink Capital, and Foundry Group.In this episode we discuss:01:37 Ronan’s path to founding Inscribe with his twin brother03:02 How they viewed startups growing up in Ireland04:44 Growing the startup ecosystem in Dublin05:20 The launch of Inscribe08:06 Deciding which brother was CTO and which was CEO09:52 Ronan experience at YC12:54 What fraud means to Inscribe and how the pandemic made their service even more urgently needed16:09 The ROI of Inscribe to onboarding customers and detecting fraud from preexisting customers19:29 The three steps Inscribe uses to validate customers21:54 How Inscribe searches the dark web for templates and other fraudulent activities23:33 How the volume of data helps their ML24:00 What a typical fraud case looks like25:28 The market size for fraud detection26:55 Competition to Inscribe28:00 What the sales process looks like when selling to large FinTechs30:19 Case studies for Inscribe31:53 How their fundraising process went33:23 Plans for the next few years34:20 Plans for a hybrid model workplaceFast FavoritesPodcastTim Ferris ShowNewsletter BlogSimon Taylor FinTech Brain FoodTech GadgetLogiTech Stream CamNew TrendHybrid WorkingBookPrincipalsLife LessonIf you care about something, double down on it.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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

The rise of influencer to VC is starting to hit its stride. This has been an evolution from celebrities like Ashton Kutcher to newsletter writers like Packy McCormick. Our guest today is a part of that trend, moving from Division I college football player at the University of Michigan to sales at IBM and Okta, and now Marell Evans, Founder and Managing Partner of Exceptional Capital, is a rising star in the VC world. He is making an impact through his connections to sports and other high-impact individuals and his experience in sales and investing.About Marell Evans:Marell started his career in sales at IBM and Okta. He moved into the investing when he joined 415 in 2017, an early-stage fund founded by Owen Van Natta. From there he moved to Softback to help with their incubation and investing efforts and launched Exceptional Capital in 2022. He graduated from the University of Michigan.In this episode we discuss:01:41 Marell background and how he started playing football02:25 How Marell was the first college graduate from his family03:27 Who gave him motivation to succeed at an early age05:00 How Marell views the struggles in his early life06:59 The path from footbal to the tech world11:10 Why high-level athletes make strong hires13:37 Leadership is born and honed through sports14:38 Marell’s experience at Okta18:11 What it was like working at Softbank21:28 Lessons he took from his time at Softbank23:50 Marell’s relationship with Draymond Greene and what they have learned from each other26:27 Why athletes going into VC is a techtonic shift for good28:36 How Name Image Likeness is changing college athletics and how his career would have been different if that was in place when he played30:19 The fundraising process for Exceptional Ventures and how he attracted high-profile LPs33:57 What type of support his high-profile LPs have brought to Exceptional Ventures34:57 How to get in touch with MarellFast FavoritesPodcastAll In PodcastBlog/NewsletterFortune Deal TermsTech GadgetGarmin Fitness WatchNew TrendEmerging ManagersBookOutliersLife LessonDon’t let your humility compromise your competencyFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

We hear a lot about building a community and creating startup ecosystems, but what does that really look like? Our guest today, Brendan King, Co-Founder and CEO of Vendasta has built both a community-focused platform and has helped build the startup ecosystem in Western Canada. Vendasta helps small and medium businesses create SaaS offerings by combining best-of-breed software vendors and the expertise of local media companies.About Brendan King:Before founding Vendasta in 2008, Brendan served as COO and a Director of Point2 Realty solutions, growing its membership to over 165,000 agents and brokers in 85 countries. In 2007, he was named one of the '100 Most Influential Real Estate Leaders' by Inman News. Prior to that he founded and sold two successful computer retailing operations and also worked for Cameco Corporation as a Geophysicist. Brendan holds an Advanced Bachelor of Science degree in Physics from the University of Saskatchewan.In this episode we discuss:01:31 Brendan’s career journey04:39 Lessons he learned that gave him grit and stick-to-itiveness05:48 Why he and Vendasta are focused on the SMB segment07:15 How Vendasta helps serve SMB with a three-sided marketplace10:15 Pain points Vendasta addresses for SMB12:56 The mistakes he made and how they can solve problems for time-starved businesses14:28 Helping build a startup ecosystem in Western Canada16:51 The way Vendasta is adjusting to remote work19:50 Why resuburbanization is a trend moving forward21:52 How remote work is exposing Vendasta to stronger recruiting competition23:40 What Canadian investors can do to further accelerate the startup scene across the country28:02 What government in Canada has done to support Vendasta31:16 The decision of when to go public34:53 What other communities around the globe can do to jumpstart a startup ecosystemFast FavoritesPodcastAll InSaaStrNewsletter/BlogJames ClearDavid Skok For EntrepreneursTech GadgetNestNew TrendRemote Hybrid Organization DesignBookGood to GreatWorking BackwardsThinking Fast and SlowLife LessonBeing challenged is inevitable, being defeated is optionalFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Finding new ways for e-commerce to connect with consumers is driving today’s guest, Kelly Nyland, Co-Founder and CEO of Whym, to help brands and retailers sell more products via SMS and messaging. Whym has raised $4.3M to build a conversational marketing platform that allows a direct relationship between buyers and sellers using messaging as the medium.About Kelly Nyland:Over the past 15 years, Kelly has had a hand in building four successful tech companies, two of which have realized public offerings during her tenure. As CEO Whym, she has garnered the support and backing of well-respected Silicon Valley investors.She has introduced over 120 digital products, software, apps, and consumer electronics to market in 40 countries. Kelly has worked across a variety of emerging technology sectors including mobile VR / AR, artificial intelligence, robotics, machine learning and voice-enabled TTS / STT.She has been responsible for helping startups launch, market, and grow both in the US and overseas. Kelly has lead international GTM and sales teams for over 20,000 points of sale, architected partnerships with Apple and Amazon teams, globally, and established B2B software partnerships for education and developer networks.In this episode we discuss:01:19 Kelly’s background and how she ended up Co-Founding Whym03:42 How the Snap Spectacles launch went down07:14 Lessons she learned from the launch of Snap Spectacles12:14 The initial idea behind Whym16:25 Streamlining the conversational marketing channels21:32 The IP around conversational marketing and early test cases23:16 How the conversational marketing process works for the consumers25:04 Why text is a vital channel27:40 Early adopters of conversational marketing30:48 How Whym works for brands and retailers31:42 The pricing model of Whym and the ROI for brands34:37 How their recent funding round went36:27 Whym’s future plansFast FavoritesFavourite BooksVenture DealsThe InevitableThe Physics of BrandLife LessonPower of will and tenacity will get you further than you knowFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

We may be leaving a golden age of digital marketing, with the rise of Facebook ads, e-commerce and other small businesses were able to find their niche audiences at a fairly reasonable price. But changes to iOS have had broad impacts across many industries. Our guest today, Shanif Dhanani, Co-Founder and CEO of Apteo is hoping to throw a lifeline to marketers of all sizes with his AI-powered platform that helps e-commerce brands personalize their marketing campaigns by predicting what their customers will buy next. Their recommendation engine identifies high-probability upsell and cross-sell ideas for each customer and syncs those recommendations to email and SMS tools.About Shanif Dhanani:Shanif has been in and around the Startup world for his entire career. He was an early-employee and board member of a small startup in 2006 before moving to Booz Allen Hamilton. He went to Tap Commerce and was part of its acquisition by Twitter before he co-founded Apteo in 2019. He got his bachelor’s from the University of Virginia and his MBA from NYU Stern.In this episode we discuss:01:29 Shanif’s journey into startups and data science04:22 How Shanif views his own success05:20 Why Shanif is so public about sharing his life and journey07:08 How recommendations to consumers has evolved and improved over the years09:53 How AI and Natural Language Processing is improving recommendations13:19 Why e-commerce is waking up to the power of recommendations16:43 How Apteo works for e-commerce and some case studies21:48 What the recent changes to iOS are and how they are affecting e-commerce24:41 How Apteo can help fill the void left from the iOS changes30:17 How e-commerce sites can start with platforms like Apteo33:11 The longterm vision for ApteoFast FavoritesPodcastStartup SchoolNewsletter/BlogNeil PatelHomebrewTech GadgetAlexaNew TrendPeople leaving jobs they don’t want to be inBookThe Wealthy BarberLife LessonIt’s always about the peopleFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

We know that one of the most valuable skills that a founder can have is grit. That determination to succeed and take their idea from a dream into reality. Our guest today has a ton of grit and we dive deep into his storied journey from being amongst the early companies at YC to becoming a member of a recent YCW21 class. Richard White is the founder and CEO of Fathom Video, an app for Zoom that allows you to record and highlight, in real-time, your Zoom meetings so you can write your notes later or skip the notes completely and share clips from your calls with colleagues. Ranked #1 Zoom App on the new Zoom App Marketplace, #1 Product of the Day, and #5 Product of the Month for Dec 2021. Fathom also recently raised a $4.7M seed round from a number of great investors including the CEOs of Twitch, Justin and Emmet, Reddit, Cruise, Clearbit, and many more.About Richard White:Richard White has been a founder and deeply entrenched in the Silicon Valley startup scene for the last two decades. He was Product Design lead at Kiko.com, the startup that Justin Kan and Emmett (subsequent founders of Twitch.tv) sold on ebay for $258K. He went on to found UserVoice where he is still chairman of the board. He founded Fathom Video in 2020 and was in YC Class of Winter 2021.In this episode we discuss:01:29 Richard’s journey to founding Fathom Video02:48 Being an early-employee at a YC05 company05:27 Childhood experiences that helped shape him07:04 Why he decided to start a company inside the Zoom eco-system09:15 Why being in a “crowded market” didn’t scare away Richard from starting Fathom Video12:13 Getting comfortable with Zoom itself as a potential competitor13:37 When he first heard about the Zoom App marketplace14:53 Thinking about competition and moving users to use something better17:25 His process of customer discovery and interview to help define a product that was 10x better20:13 What questions founders should ask themselves before entering a crowded market21:09 Best ways to onboard customers so that they experience instant success24:38 Talking about investors about their crowded market26:49 When to launch and how long you should build in private28:34 Richard’s fundraising journey for Thrive Video32:22 Fathom Video’s plans for the future33:40 How to get to product-led growth quicker34:30 The status of Fathom Video’s relationship with ZoomFast Favorites:PodcastThe QuestNewsletter/BlogPassTech GadgetSamson Q2UNew TrendCrypto WinterBookObviously AwesomeLife LessonDon’t be afraid to cold email peopleFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

One of the most misunderstood calculations a founding team can make is when to exchange equity for capital and when you should turn to Venture Debt. We are a Venture Fund, but we are also partners with our founders, and we know that sometimes the better option is Venture Debt. Today’s guests, Tony Barkett, Managing Director of RBCx and Rebecca Skvorc, CFO and Head of Talent at Nudge, talk through the Venture Debt process and when it works (and when it doesn’t)About Tony Barkett:Tony Barkett leads the delivery of industry-tailored capital financing, business advice, and solutions that go beyond traditional banking. And when he isn’t busy supporting the growth of innovative companies in Canada, he’s a sports coach for his two sons and an avid golfer. He started his career at SVB, and did his undergrad at the University of Massachusetts, Amherst.About Rebecca Skvorc:Rebecca has 19 years of progressive and diverse financial experience. Prior to her roles at Nudge, she was an SVP at Wave HQ, she’s been in operations and banking for the last 19 years and has successfully closed US$55m in financing over 5 rounds. She got her bachelor’s at Wilfrid Laurier University.In this episode we discuss:01:16 Their journey into the tech eco-system03:17 What is venture debt and why is it issued04:38 How Venture Debt has evolved over the last few decades05:54 Venture Debt from an operator’s perspective07:51 Timing to take on Venture Debt as a startup10:41 Incentives for Debt providers to find high-growth companies11:26 How a company can know its ready for a debt-facility13:53 How Rebecca knew Venture Debt was the right course for her companies15:28 The starting points founders should consider when looking at Venture Debt18:55 Other risks founders should consider when looking at Venture Debt21:19 How Venture Debt is evolving for later-stage companies22:47 When should founders look at cleaning up their debt23:42 Can you use equity to solve a debt problem?24:38 Lessons Rebecca learned from her time at Wave HQ25:45 Picking the right lender for you Venture Debt26:53 How Tony has helped companies survive s**t-hitting-the-fan moments29:19 The importance of honesty and transparency with your bankers and investors31:00 Exciting things about today’s Canadian tech eco-systemTony’s Fast Favorites:PodcastTank TalksNewsletter/BlogTerm SheetGadgetiPhoneNew TrendGoing OutsideBookThe Hard Thing About Hard ThingsLife LessonTeach them to fish, don’t give them a fishRebecca’s Fast FavoritesPodcastAll In PodNewsletter/BlogTim FerrisGadgetiPhoneNew TrendTravellingBookThe EconomistLife LessonHold your loved ones closeFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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

With the disaggregation of traditional media, the popularity of influencers, and the unraveling of ad platforms like Facebook, creating a community through content has never been more important. Our guest today knows about the power of content and how it can grow into something world-changing. Austin Rief, is the CEO and Co-Founder of Morning Brew, an online media powerhouse that was founded as a newsletter in the dorms of the University of Michigan in 2015. Its impact and growth quickly became apparent and in 2020 it sold a majority interest to Business Insider for a reported $75M. Austin is also a solo capitalist at his fund, Austin Rief Ventures.About Austin Rief:Austin started at the University of Michigan as a Finance major in 2014, and he left 3 years later with a degree and was well on his way to becoming a media mogul. Co-Founding Morning Brew in 2015 and was originally the COO, he became the CEO in 2021. He also started a rolling fund on Angel List and parlayed that into Austin Rief Ventures, a seed-stage fund.In this episode we discuss:01:34 The early days of bootstrapping Morning Brew02:13 Early expectations for Morning Brew03:41 Lessons learned from the M&A process05:16 Why they decided to sell in 202006:24 What the internal conversations were like around the sale07:48 Why Austin decided to start investing09:28 Reasons why founders seek him out to be on their cap table11:58 Why he believes content and social media can help founders14:31 How his due diligence process works15:50 Favorite questions he likes to ask founders17:27 How he views portfolio construction19:28 Getting allocations in competitive rounds20:33 How he views founders with stacked SAFE rounds21:44 Why it’s okay for founders selling on the secondary24:00 How top funds will need to adapt to smaller investors getting pro rata25:05 Working and attracting LPs as a solo capitalist27:06 Austin’s skillsets that founder come to rely on28:15 The importance of finding a CEO coach31:31 What Austin is most excited about in the startup space34:48 Why it’s important to be in the best companies36:41 The future of Crypto and Defi and why he invested in Rare Circle40:26 Thoughts on the new YC deal structure42:40 What Austin has learned from his misses46:14 Plans for Rief VenturesFast Favorites:Podcast:Trillionaire MindsetAll-InNewsletter/BlogMorning BrewBen ThompsonPack McCormickTech GadgetEight Sleep MattressNew TrendThe feud between threads and shitpostersBook:Not Fade AwayWhen Breathe Becomes AirLife Lesson:Focus on increasing luck’s surface areaFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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