Tank Talks By Ripple Ventures

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

Matt Cohen and John Ruffolo discuss the fast-moving events shaping Canada's political and economic landscape. Topics include the fallout from Prime Minister Justin Trudeau's resignation, the complexities of the CRA's proposed capital gains tax adjustments, and the legal challenges tied to Parliament's prorogation. The conversation then pivots to groundbreaking developments in AI, spotlighting RBC's partnership with Cohere to build a generative AI platform. The episode wraps with a critical analysis of the sudden closure of Vancouver-based Bench Accounting and its surprising acquisition.Topics:* (00:45) CRA’s enforcement of capital gains tax changes and taxpayer strategies* (02:41) Legislative uncertainty surrounding the federal budget and prorogation* (04:08) Legal arguments challenging prorogation and their implications* (06:04) External perceptions of Canadian governance* (08:22) RBC’s partnership with Cohere for AI development* (11:36) Anthropic’s funding round and global AI investment trends* (11:52) Bench Accounting’s shutdown and its acquisition by employer.comFollow 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

John Ruffolo, a seasoned speaker and thought leader in Canadian politics, joins Matt Cohen to unpack the implications of Justin Trudeau's resignation after nearly a decade as Prime Minister. They delve into how this shake-up could affect the Liberal Party and its leadership race. Discussion includes potential challenges in trade with the U.S., confusion over capital gains tax changes, and the rising influence of social media, exemplified by viral moments from politicians like Pierre Poilievre. A thought-provoking look at Canada’s evolving political landscape!

Winter Mead, from Coolwater Capital, discusses their innovative program for cultivating first-time fund managers, emphasizing the need for strong management skills and community ties. John Rikhtegar, Director of Capital at RBCX, shares revealing data-driven insights into Canadian venture exits over the past decade, examining how market cycles influence investment success. Together, they reflect on key trends in the venture capital landscape and the challenges currently facing the Canadian tech ecosystem.

Matt Cohen and John Ruffolo tackle the seismic shifts in Canada’s political landscape, discuss the recent fall economic statement, and make bold predictions for 2025.Topics covered include Chrystia Freeland’s unexpected resignation as Finance Minister (00:41), highlights from the Federal Budget (03:39), speculation about Canada's election timing (09:18), and how this government looks to the incoming US administration. The discussion also covers the growing "100 Million Dollar Club" in Canadian tech and debates the IPO prospects for leading startups (12:00). And John and Matt give rapid-fire predictions for 2025 (18:00).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 of Tank Talks, host Matt Cohen and John Ruffolo discuss the latest developments in venture capital, technology, and innovation. Topics include the Canadian government’s proposal to encourage pension fund investments in startups, the challenges entrepreneurs face in scaling businesses, and the systemic capital constraints within Canada’s ecosystem.The conversation highlights Sheertex founder Katherine Homuth’s journey and the broader difficulties of pursuing ambitious ventures in Canada. They also cover Raptor Maps’ use of AI for solar farm efficiency, the resurgence of quantum computing with D-Wave’s latest funding, and the emergence of layered SPVs investing in high-demand companies like SpaceX and OpenAI. The episode closes with an analysis of ServiceTitan’s IPO and its implications for the reopening of the IPO market.(00:46) The Canadian Mini-Budget and Venture Capital* $2B package to support startups and scale-ups* Discussion on U.S. influence on Canadian investments and government initiatives(03:00) Economic Realities for Canadian Startups* John highlights Canada’s capital constraints and increased tax concerns(05:00) Sheertex and Katherine Homuth’s Moonshot Journey* $35M funding round led by Investissement Québec* Challenges in scaling operations and media scrutiny* The uphill battle of Canadian entrepreneurs pursuing ambitious goals* Read her article here(12:44) Raptor Maps and Solar Innovation* $35M raised to enhance solar energy management through AI and drones* Predictive maintenance and operational efficiencies in the solar sector(17:23) Quantum Computing Resurgence* D-Wave raises $175M as Google advances with its Willow chip* Global implications of quantum on industries and geopolitics(21:00) Double-Layer SPVs: Opportunity or Risk?* The rise of SPVs investing in other SPVs for firms like SpaceX and OpenAI* Risks of layered fees and opaque ownership structures(23:28) ServiceTitan IPO and the IPO Market Rebound* ServiceTitan’s valuation debate following its $101/share IPO* Implications for the reopening of the IPO windowFollow 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 Rebecca Kacaba, Co-Founder and CEO of DealMaker, a groundbreaking platform transforming how companies raise capital. Rebecca shares her journey from her entrepreneurial family background and legal expertise to spearhead innovation in the fundraising space.The conversation covers how DealMaker democratizes capital access, enabling individuals to invest in brands they love. The discussion also touches on the impact of regulations like the JOBS Act, the role of community and marketing in successful capital campaigns, and the future of AI in streamlining complex fundraising processes.Rebecca also opens up about her experiences as a female CEO in a male-dominated industry, scaling a fintech startup, and her vision for how retail capital will reshape ownership in the coming years.About Rebecca KacabaRebecca Kacaba is the CEO and co-founder of DealMaker, a tech company that helps businesses raise money online. DealMaker has helped companies raise over $1.7 billion from 650,000 investors, making it one of the fastest-growing companies in Canada. Rebecca’s goal is to make it easier and fairer for people to invest in businesses they believe in.Before starting DealMaker, Rebecca worked as a lawyer for over ten years, specializing in helping companies with capital markets and mergers. She also worked at the Ontario Securities Commission, where she helped with important rules and policies for investments. Her background in law helped her create new tools for companies to raise money more efficiently.Rebecca earned her Bachelor of Arts in Psychology from Western University and her law degree (LLB) from the University of Windsor.Fast Favorites* Favorite Podcast: All-In Podcast* Favorite Bestie from All-In: Chamath Palihapitiya* Favorite Newsletter or Blog: Morning Brew* Favorite Tech Gadget: iPhone* Favorite New Trend: The democratization of capital* Favorite Book: Elon Musk's Biography* Favorite Life Lesson: "Failure is not a thing."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 insightful discussion, John Ruffolo, a finance and technology expert, shares his vision for Canada's prosperity agenda. He emphasizes the need for tax reform and strategic negotiation to bolster Canada’s economy. The conversation delves into 'friend-shoring,' highlighting how close partnerships with the U.S. can enhance innovation and competitiveness. They also explore Canada’s $2 billion investment in AI infrastructure and the evolving venture capital landscape, urging the creation of structured frameworks for emerging technologies.

Matt Cohen welcomes Mitch Debora, the Co-Founder and CEO of Mosaic Manufacturing, a pioneer in the field of additive manufacturing and 3D printing. Mitch shares insights into how Mosaic is transforming global supply chains with innovative 3D printing solutions, particularly in the wake of COVID-19, which exposed the fragility of traditional supply chains.The discussion dives into Mosaic’s latest innovation, the Array system, which enables continuous automated production at scale. Mitch outlines the environmental and economic advantages of additive manufacturing, its applications in diverse industries such as medical devices, textiles, and consumer goods, and Mosaic's vision for a sustainable future of localized production.The conversation also touches on Mosaic’s $28M growth equity financing round led by Idealist Capital, signaling the company's ambitious plans for expansion and innovation.About Mitch Debora:Mitch Debora is the Co-Founder and CEO of Mosaic Manufacturing, a leader in advanced polymer-based multi-material additive manufacturing solutions. He also serves as an Additive Manufacturing Advisory Board Member at NGen Canada. With expertise in digital manufacturing and supply chain innovation, Mitch focuses on strategy, growth, intellectual property, and engineering. His earlier ventures include founding Vivid 3D, offering professional-grade 3D printing services. Mitch earned his Bachelor of Applied Science in Mechanical Engineering from Queen's University, where he also developed a deep interest in 3D printing.Topics discussed:(01:32) Mitch’s Journey into Entrepreneurship02:30) Inspiration Behind Mosaic(08:09) Impact of COVID-19 on Supply Chains(11:49) The Array System: Revolutionizing Manufacturing(15:48) Future of 3D Printing(18:24) AI in Additive Manufacturing(23:00) Environmental Benefits of Additive Manufacturing(26:34) 3D Printing at Home(31:40) Mosaic’s Recent Funding RoundFast Favorites:Favorite Podcast: How I Built This by Guy RazFavorite Blog: Mosaic’s BlogFavorite Tech Gadget: 3D printersFavorite New Trend: Betting culture as a predictive data sourceFavorite Book: The Age of Spiritual Machines by Ray KurzweilFavorite Life Lesson: "You don't know what you don't know."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