Tank Talks By Ripple Ventures

Subscriptions are taking over the world, but it can often be a challenge for smaller e-commerce sites to add and service this new sector on top of their existing business, Upscribe is here to fill that niche for Shopify shops and other e-commerce platforms. We talk with Dileepan Siva, founder and CEO, about what he’s building, the e-commerce landscape, and how to reduce churn and increase loyalty through smarter subscription offerings.About Dileepan Siva:Dileepan grew up across three continents and four countries before the age of ten. His dream job growing up was to be the UN Secretary General. After graduating from UC Berkeley and getting an MBA from Harvard, he went on to be an advisor for the US and UN in war-torn countries.After his time in government and politics, he moved to consulting and tech operations at Ebay, and Twitter, before becoming a founder for himself. Upscribe was founded in 2019 and recently closed a $4M seed round lead by Uncork Capital.In this episode we discuss:01:24 The evolution of the subscription economy03:09 What has caused the shift to subscriptions?06:13 The technologies that have helped enable subscriptions08:25 How companies can start into subscriptions10:27 Why Shopify and CAC has changed the game in e-commerce12:15 How non-SaaS businesses can implement subscriptions13:52 Why subscriptions are not just yesterday’s box companies15:25 What is the best strategy for pricing your subscriptions17:24 Why bundling is so important to e-commerce19:21 The importance of data and personalized marketing with subscription21:18 How companies should think about retention in relation to growth24:05 Dileepan’s best advice for a company just starting a subscription service26:18 Targeting data that Upscribe uses to upsell customers27:22 Why smart subscriptions is a good idea29:14 The decision to take on funding from UncorkFast FavoritesPodcast:Invest Like The BestNewsletter/BlogScott GallowayTech GadgetSony HeadphonesTrendThe future of workBookUntethered Soul by Michael SingerFollow 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 transitions into different eras of the web can sometimes be hard to miss, but our guest today, renowned VC investor and Operator Mo Koyfman, has seen the signs clearer than others. He helped shape Web 2.0 as an operator and is now working hard shaping Web 3.0 as an investor. Mo and Matt have a fun conversation that dives into his views on the emergence of embedded Fintech and the ways he is looking to invest in the future of Fintech.About Mo Koyfman:Mo Koyfman is a prolific venture capitalist who started his career investing at IAC, working underneath Barry Diller. Mo led IAC’s acquisition of Vimeo, while also acting as COO for a period of time, Mo later moved on to Spark Capital in 2008, where he led investments in companies like Skillshare, Warby Parker, Plaid, and several others.Mo launched his new fund Shine Capital with $125 Million in funding in the Fall of 2020.A message from our sponsor:Now more than ever, entrepreneurs need committed partners to help them navigate the hardest pain points of scaling a technology business. Created by one of Canada’s largest banks, RBCx is re-imagining what it means to create meaningful and impactful technology companies in Canada.RBCx – the tech banking arm of the Royal Bank of Canada - is a full-service platform that accelerates the entrepreneurial journey at every stage of growth – providing access to a complete suite of capital solutions, innovative products and services, and operational expertise to help technology companies scale.Sid Paquette – former Managing Partner at OMERS Ventures, is leading the group and has recruited a bunch of new faces to the bank from the Venture and Tech industry. Tony Barkett and Tyler Kirk – two former Silicon Valley Bank leaders in addition to Nicole Kelly and Anthony Mouchantaf have also joined Sid from OMERS Ventures.RBCx has been incredibly active since their launch in June as an LP, and have already backed some of Canada’s most notable VC funds including Golden, Amplitude, Version One and Lumira Ventures. To learn more about RBCx visit www.rbcx.com or follow them on Twitter or Linkedin.In this episode we discuss:03:12 Mo’s definition of embedded FinTech16:50 How investing about learning and problem solving27:54 Lowering SaaS CAC and increasing LTV through embedded FinTech32:43 Calculations startups should make when deciding to add FinTech and other services38:53 Is the fight for new corporate credit cards a race to the bottom44:36 The future of offerings like compliance and tax services48:24 Shine Capital’s investment thesisFast FavoritesPodcastsJoe RoganNewsletter/BlogAVCTech GadgetHyperVoltNew TrendCryptoBookPortnoy's Complaint by Philip RothFollow 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

Our guest today, George Rossolatos, is the CEO of the Canadian Business Growth Fund (CBGF), which is an evergreen fund. Evergreen funds, or sometimes referred to as open-ended funds, are different than closed-ended funds which are the most typical structure we see in venture capital. With evergreen funds, capital is invested directly into an LLC on an ongoing basis with no termination date meaning they live on FOREVER!We talk with George about this unique position in the market as Canada’s first growth equity evergreen fund, the startup environment, and what Canada needs to do to keep its most innovative companies from receiving funding elsewhere.About George Rossolatos:As CEO of the Canadian Business Growth Fund (CBGF), George is responsible for developing the Fund’s national launch strategy, talent recruitment and the leadership and oversight of its investment activities.Previously, he served as CEO at Avante Logixx, a publicly-traded security and technology company, where he oversaw the company’s successful turnaround and growth strategies. Prior to that, he held leadership roles in private equity, first at Harrowston (acquired by TD Capital) and then at TorQuest as Co-founder and Partner where he launched the Fund’s $180 million Value Fund in 2002 and its $550 million Value Fund II in 2006.In addition to a degree in Commerce from Queens University, he has an FCPA Designation and an MBA from the Kellogg School of Management at Northwestern University with a specialty in Marketing, Entrepreneurship & Technology. He was previously recognized with the Top 40 Under 40 award, recognizing young business leaders.In this episode we discuss:01:56 Why CBGF decided to go with an evergreen fund as a structure03:21 From an LP perspective how does an evergreen fund look different from a traditional investment fund04:44 The types of investors that are LPs in CBGF05:34 Where the idea for an evergreen fund started07:24 Advantages and differences between CBGF and traditional VC funds09:34 Strategic differences between evergreen and other funds11:04 The transparency of management fees with an evergreen fund12:10 The benefits of of awarding carry to evergreen fund employees to attract and retain talent13:15 The challenges of running an evergreen fund16:58 How entrepreneurs view taking money from a CBGF versus more traditional funds19:47 Was an evergreen structure formed because of the nature of the LP base, or was the LP base attracted to the fund because it was an evergreen fund?21:39 How CBGF manages relationships with its portfolio companies and its LPs22:43 How Net Asset Value (NAV) is calculated at CBGF24:17 Where CBGF likes to be positioned on the cap table25:25 How returns compare historically between evergreen and traditional funds28:10 Deal competition in the current market30:46 Price sensitivity in their deal analysis32:22 How CBGF manages co-investments with their LP base33:54 Where they see exits for their companies35:57 How CBGF views the long term for the fund itself37:55 The state of the Canadian startup ecosystemFast Favorites:PodcastKwik Brain with Jim KwikNewsletter/BlogJohn P. Hussman’s Market CommentGadgetKindleNew TrendVirtual MeetingsBookGetting to Yes: Negotiating to Agreement, Without Giving In by Roger FisherFollow 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

Today’s incredible guest is Nikhil Basu Trivedi, an investor who has been on the leading edge of investing in dozens of startups just before they become the next big thing. His portfolio includes Canva, Hinge, DoctoronDemand and many more. We asked Nikhil about what sort of data points he looks for when analyzing markets, in order to time the next big thing perfectly for investment; and we dig into some of the biggest lessons he’s learned in the process.About Nikhil:Nikhil Basu Trivedi is Co-Founder and General Partner of Footwork, an early-stage VC firm focused on consumer technology and the consumerization of enterprise technology. Previously, he was Managing Director of Shasta Ventures and an investor with Insight Venture Partners. He graduated from Princeton University with a degree in molecular biology and finance.He writes at nbt.substack.comA message from our sponsor:Now more than ever, entrepreneurs need committed partners to help them navigate the hardest pain points of scaling a technology business. Created by one of Canada’s largest banks, RBCx is re-imagining what it means to create meaningful and impactful technology companies in Canada.RBCx – the tech banking arm of the Royal Bank of Canada - is a full-service platform that accelerates the entrepreneurial journey at every stage of growth – providing access to a complete suite of capital solutions, innovative products and services, and operational expertise to help technology companies scale.Sid Paquette – former Managing Partner at OMERS Ventures, is leading the group and has recruited a bunch of new faces to the bank from the Venture and Tech industry. Tony Barkett and Tyler Kirk – two former Silicon Valley Bank leaders in addition to Nicole Kelly and Anthony Mouchantaf have also joined Sid from OMERS Ventures.RBCx has been incredibly active since their launch in June as an LP, and have already backed some of Canada’s most notable VC funds including Golden, Amplitude, Version One and Lumira Ventures. To learn more about RBCx visit www.rbcx.com or follow them on Twitter or Linkedin.In this episode we discuss:03:38 How does Nikhil define the “next big thing”04:48 The biggest lesson Nikhil has learned07:18 How to think about timing when to step in10:05 The NFT wave and opening up of new opportunities12:53 How to think about potential sizes of investment16:57 Staying grounded in reality rather than being driven by hype19:09 What Nikhil looks for in founders20:36 Analyzing product market fit24:59 Viewing competitors in the early-stage market27:14 Enterprise trends post-pandemic that Nikhil is excited about29:50 Thoughts on clean tech/ deep tech32:34 Staying a generalist when investing35:54 What to look for from Footwork VCFast FavoritesPodcastsThe All In PodcastNewsletter/BlogNot Boring by Packy McCormickTech GadgetAirPodsNew TrendFounders working on climate related solutionsBookLeading: Learning from Life and My Years at Manchester United by Alex Ferguson and Michael MoritzFollow 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

Since the onset of the pandemic, everyone became a day trader overnight, whether it was Robinhood day traders trading options in Tesla or Wall Street investors betting in meme stocks like Gamestop. On today’s show we ask Tobias why he thinks building a content creation platform for day traders is what people really want, how Trading.TV plans to integrate with other platforms who trade in stocks, crypto and other alternative assets, and more!About Tobias:Tobias Heaslip is founder and CEO of Trading.TV, a social livestream platform for traders and financial content creators. Previously, he was director of Technology, Media and Telecom trading at Barclays Investment Bank, Equity Trader at Och-Ziff Capital Management and Analyst at Morgan Stanley. In this episode we discuss:02:00 Tobias’ personal background and why he founded Trading.TV03:25 Tracking financial markets on social media06:04 Competing with different online platforms08:13 Why we need a new trading platform09:04 What kind of content is on Trading.TV09:58 Managing the costs of content creation11:42 Verifying users on the platform15:23 Incentivizing content creators on the platform16:48 Promotional content on financial TV18:17 Short form content for financial advice20:40 Integrations with other platforms21:35 Getting away from the liability of offering financial advice23:55 How to make different asset classes digestible30:20 Creating an inclusive and diverse community32:12 What to expect from Trading.TVFast FavoritesPodcastsGroup ChatNewsletter/BlogThe HustleTech GadgetiPhoneNew TrendNFTsBookHarry PotterFollow 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

Funding a new business to fuel growth can be done through some form of debt financing or equity funding. Venture debt is a little different from traditional debt financing and in 2020, VC-backed companies in the US alone received debt financing of more than $25B. On today’s show, we talk about when founders should consider debt financing, the ways in which startups should think about raising debt vs. equity in the early stages, and why it's important to never use short-term debt to fund long-term solutions.About Shez:Shez Samji is Managing Director and Head of Business Development at Silicon Valley Bank Canada. Previously, he was VP of Investments at Third Eye Capital, Analyst at AHF Capital Partners and Associate at BMO Capital Partners. He graduated from York University’s Schulich School of Business with a degree in Finance and Accounting.In this episode we discuss:02:07 The pros and cons of for startups to consider when looking at different funding options05:11 Debt financing after a seed/ Series A round06:53 Why SVB cares about equity09:17 Bank debt vs venture capital debt12:12 Avoiding short-term debt as a long-term solution13:26 Questions startups should ask themselves when considering debt financing15:08 Next steps for startups looking for financing16:56 Red flags to look for in loan clauses21:20 Picking between the options23:40 How founders should think about “repayment”25:03 Costs and benefits associated with credit28:33 Differences between venture financing and more conventional methods of lending32:43 Benefits of working with a bank focused on startup financing34:12 What Shez is excited about for the future of the marketFast FavoritesPodcastsThe All In PodcastNewsletter/BlogBloombergTech GadgetiPhoneNew TrendCanada’s VC environmentBookThe Most Important Thing by Howard MarksFollow 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 petcare industry is a $100 billion dollar market, with about 2/3rds of US households owning a pet. Recently, consumers have started spending more on their pet’s health and well-being. On today’s show, we ask Marc about the petcare’s industry transition to healthtech, the effects the pandemic has had on pet adoption and ownership, and how startups like Pawp are helping owners take back control of their pet’s data.About Marc AtiyehMarc Atiyeh is the founder/CEO of Pawp, a digital health clinic that provides unlimited access to licensed vets 24/7 & a $3,000/year pet emergency fund. Previously, he served as the CSO of Clarity Money (Acquired by Goldman Sachs) and  was the Head of Growth at Paribus (acquired by Capital One.) He graduated from Harvard with a degree in Electrical and Computer Engineering.In this episode we discuss:01:58 How has PetTech evolved since the inception of the industry03:53 Why has it been so slow to adopt technology06:04 Financial and informational inefficiencies in the veterinary space10:07 The replacement value of PetTech12:48 Marc’s ground-up approach to building a pet startup15:59 Why did it take so long for telehealth to enter the market20:09 Closing the gap between prescriptions and telemedicine24:11 Defending against larger retailers30:39 How Pawp differentiates itself from its competitors38:43 The impact of COVID on pet demand (COVID puppies) and how it affected the industry44:28 Fundraising for Pawp Series A Fast FavoritesPodcastThe Pomp PodcastNewsletter/BlogMorning BrewTech GadgetWHOOPNew TrendPeople drinking less alcoholBookCrossing the Chasm by Geoffrey MooreFollow 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

As everyone quickly realized during the pandemic, remote work and distributed teams are here to stay. How should startups think about managing their global payments? On today’s show, we ask Dileep about the issues with multiple payment rails, bringing on independent contractors as full-time employees, and setting up local and global entities with various forms of credit.About DileepDileep is the co-founder and CEO of Jeeves, a company that provides financial infrastructure for global startups. Previously, he was Co-Founder & COO at Jeeng/PowerInbox and M&A Strategy consultant at Deloitte Consulting. He graduated with an MBA from Stanford, and was part of the YC Summer Class of 20. In this episode we discuss:02:22 What the distributed workforce market looked like prior to COVID-1904:33 How COVID changed the global infrastructure stack06:16 How startups have dealt with hiring remote workers07:14 Other challenges startups face when paying in local currencies10:03 Navigating the input-output flow of currencies11:43 Why most fintechs tend to focus on a single country13:36 How Jeeves is thinking about the future of multi-faceted payments14:22 The democratization of single payments across the world15:53 Suggestions for founders regarding international payroll/ HR risks18:06 Advice from Dileep as a founder20:37 Should international employees be hired as independent contractors?22:29 Over-correcting for success23:36 Covering third party costs for remote teams25:44 How should a founder think about hidden/unseen costs in the global market?27:57 Annual losses to global transaction costs, and why there has not been a solution before31:09 How non-US entities can benefit from working with Jeeves33:34 Jeeves’ funding history36:08 Taking on additional debt37:01 The future of Jeeves in terms of new markets/product offeringsFast FavoritesPodcastThe DailyNewsletter/BlogPro Football TalkTech GadgetPortable SpeakersNew TrendMeme StocksBookThe Undercover Economist  by Tim HarfordFollow 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 construction industry is estimated to be over $2.5 trillion and growing in the United States, yet the industry has been especially slow at adopting newer technology solutions. Ron Goldschmidt joins us to share his thoughts on how construction companies can adapt to our remote reality, and why they have been resistant to change in the first place.About RonRon Goldschmidt co-founded Briq, a fintech company for the construction industry, in 2018 and has been Chief revenue Officer since 2020. Prior to this, he worked on Wall Street as Head of Emerging Markets at RBC Capital Markets and as Executive Director at UBS. He graduated from the Ivey Business School at Western University with an honors in Business Administration. In this episode we discuss:02:14 Why has the construction industry failed to invest in newer productivity tools?04:17 What sort of efficiencies are being deployed in the industry today?07:43 How has management successfully changed in the construction industry?12:12 How Briq is dealing with legacy APIs in the construction industry15:54 Technological innovations like electronic invoicing and data solutions18:23 The role of AI and ML in the construction industry22:00 The labor shortage in the construction industry24:53 Carve-outs for construction in the infrastructure bill27:09 How inflation plays into budgeting and supply/material forecasting30:06 How Briq approaches these budgeting challenges34:15 Briq’s Series B funding round with Tiger GlobalFast FavoritesPodcastsThe Portal with Eric WeinsteinNewsletter/BlogKnowledge Traction by Pascal UngerTech GadgetPortable Massager/ TheragunNew TrendVertical FintechBookA Land So Strange: The Epic Journey of Cabeza de Vaca by Andrés ReséndezStart with Why: How Great Leaders Inspire Everyone to Take Action by Simon SinekFollow 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

In the United States, the average household spends around $4200 a year on energy costs. How can we reduce this burden by building more efficient homes? We ask Manuel about how PowerX is helping consumers save costs and resources, how he attracted investments from the likes of Tesla and YCombinator, and more on today’s episode. About ManuelManuel Schoenfeld has been the founding CEO of PowerX since 2019. He was previously a project manager at McKinsey, and consultant at the World Bank, where he advised on innovative energy solutions.  He was a McCloy Scholar at Harvard University, a Van Beek Scholar at the Wharton Business School, and graduated from the Rotterdam School of Management with the highest grade average in history.In this episode we discuss:03:45 The problem with the continued use of energy inefficient resources05:57 The importance of more information07:44 Legislation and energy conservation09:41 Cost and financial incentives making change easier10:58 Why haven’t builders adapted to building energy efficient homes from scratch12:22 Push and pull strategies between customers and builders13:12 When the US could become net zero 15:58 How the pandemic has affected this problem19:33 The origins and the mission of PowerX23:59 How PowerX is keeping costs low30:37 The recommendation algorithm of PowerX33:34 PowerX’s Kickstarter campaign35:28 Plans for growth over the next yearFast FavoritesPodcastsResidential Tech TalksNewsletter/BlogFortune Term SheetCleanTechnicaTech GadgetBB8New TrendAnything in the climate change arenaPutting value on human relationships and physical interaction post-COVIDBookBooks on Quantum PhysicsFollow 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