Tank Talks By Ripple Ventures

In this week's episode, we're thrilled to host Alex McIsaac of Northside Ventures. With a diverse background in venture capital, cleantech, and global investing, Alex shares invaluable insights from his tenure as a Partner at Global Founders Capital. We explore why Alex believes it's the right time to launch Northside Ventures and the specific pre-seed market gaps he aims to address.We also delve into the prospects for Canadian AI startups, discussing strategies for outperforming established players and securing Canada's victory in the tech arena.About Alex McIsaac:Alex McIsaac is the Founder and General Partner of Northside Ventures. He has 12 years of experience as both an operator and early-stage investor. Alex led the Canadian practice as a Partner at Global Founders Capital, an international multi-stage venture fund with $3B+ AUM and 15+ offices globally. As a Principal at BDC Capital, the largest venture investor in Canada with $6B+ AUM, Alex helped manage the Seed Fund and Women in Tech fund.Alex spent over six years as a co-founding employee at NRStor, an energy storage-focused cleantech start-up founded in 2012. Blackstone Energy acquired its commercial business in 2018.Alex holds a BScH from Queen’s University and an HBA from the Richard Ivey School of Business.In this episode, we discuss:(01:03) McIsaac's VC journey started with a biology background, shifting to business and early-stage cleantech at Northwater Capital(02:01) The transition to building at NRStor, focused on energy storage technology(04:42) International investing and founder importance at BDC and Global Founders Capital(08:48) The founders' role in company success and adapting to market shifts at GFC.(10:27) Founders' adaptability to profitability during market changes(12:19) Why Alex launched Northside Ventures, focusing on early-stage, high-velocity companies without follow-on checks(17:42) Addressing Canadian pre-seed investment gaps(20:32) His interest in sectors like B2B SaaS, AI, FinTech, and cleantech for long-term growth(23:30) Adding value through investor and customer introductions, and key decision advising(26:18) Emphasis on one-to-one founder relationships over formal board seats for flexibility.(27:14) Targeted diverse LPs as a fundraising strategy(31:02) Using networking and events for LP network building(34:59) The importance of a good CRM as a solo GP(37:18) Early success with investments like Terminal, emphasizing founder-market fit(40:16) Optimism about Canadian AI startups(42:41) AI startups with distinct distribution strategies and customer needs addressing(45:36) Goals to make Northside a leading VC firm, contributing to the Canadian tech ecosystemFast Favorites:* 🎙- Favorite Podcast: 10x Capital* 📰- Favorite Newsletter / Blog: Techmeme* 📲- Favorite Tech Gadget: Oura Ring, Nanit Baby Camera* 📈-  Favorite New Trend: Mental Health Awareness* 📚- Favorite Book: Red Notice* 🤔 - Favorite Life Lesson: We live in a marketplace of favors. Be generous with your time to as many people as possible because you never know how those favors or those people may come back to help you out.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

Former NBA All-Star Baron Davis shares his journey from sports to business, emphasizing mentorship, legacy-building, and entrepreneurship. He discusses empowering athletes through networking, creating interconnectivity in sports and entertainment, and building successful partnerships in entrepreneurship. The conversation also touches on favorite books and life lessons.

Sergey shares his evolution from a startup operator to venture capitalist and how his experience shaped him as an investor.Sergey grew up in Israel and we talk about why Israel’s startup ecosystem has been so successful for so many years even as it grapples with the current conflict.Sergey shares his thoughts around how startups should think about expansion to the U.S from overseas and how to know when you are ready to enter other markets.Lastly Sergey shares his thoughts on the potential rise of Management led buyouts in todays startup world and why we might see more of them in VC-backed startups that are underwater.About Sergey Gribov:Sergey Gribov is General Partner at Flint Capital where he invests in VoIP, cybersecurity, digital health, and finance.Sergey's educational background is as impressive as his professional achievements. He is an alumnus of the Massachusetts Institute of Technology, where he earned his MBA as a Sloan Fellow. This prestigious program is designed for mid-career global executives and entrepreneurs, focusing on entrepreneurship, finance, technology, and innovation management. Additionally, Sergey holds a B.Sc. in Computer Science, Cum Laude, from Beer-Sheva University. His academic pursuits have played a significant role in shaping his analytical and strategic approach to business challenges.In this episode, we discuss:(1:20) Sergey's Background and Journey into Startups and Investing(2:38) Experience in the Israeli Startup Ecosystem(6:03) Shift to Business and Angel Investing(13:26) Collaborative Nature of the Israeli Ecosystem(17:26) Managing Operations During Conflict(21:30) Market Dynamics and Venture Capital Ecosystem(30:54) Management Buyouts in Startups(34:01) Advice for Founders in Current Market ConditionsFast Favorites:* 🎙- Favorite Podcast: 20VC, Lex Fridman* 📰- Favorite Newsletter / Blog: Social Media* 📲- Favorite Tech Gadget: Google Pixel* 📈-  Favorite New Trend: LLMs* 📚- Favorite Book: Never Split the Difference* 🤔 - Favorite Life Lesson: They're all luck plays in our life.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

The new year brings new news to discuss with John Ruffolo and Matt Cohen. In this episode, we discuss:(00:28) CEO and CRO Changes in Startups and Scale-ups(02:02) Exploration of 'founder flight' in startups, Canada vs. the US(02:39) Runway Shortage in Startups(04:00) AGF Private Capital's Acquisition of Kensington Capital(07:17) Dynamics of Asset Management and Private Equity(08:00) Venture Capital Industry Trends(09:22) JMI Equity's Acquisition of Safe Software(11:26) Analysis of Carta's crisis management in their secondary markets division(18:39) AI's Impact on Job MarketsFollow 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

Today we're diving into the world of ProductLed growth and user onboarding strategies with our special guest, Adam Jarczyn, Senior Director of Product Digital Health at PC Health and a valued Venture Partner at Ripple.Adam brings a wealth of experience to the product and go-to-market strategies for early-stage startups and offers unique insights that help founders scale revenue and retention. In our conversation, we covered a range of topics, including scoping and discovery core features that can drive significant gains without losing sight of the project's vision, decision Velocity and how to cultivate a culture that values quick and smaller decisions, how urgency shapes PLG strategies and user experiences, and how tailoring your company's onboarding experiences can help address some of the most common PLG challenges.About Adam Jarczyn:Adam Jarczyn works as Senior Director of Product Digital Health at PC Health, while also being a Venture Partner at Ripple Ventures, a ProductLed Coach at ProductLed, and a GTMramp Member at GTMfund, where he advises and invests in companies that leverage product-led growth (PLG) and user onboarding strategies to scale their revenue and retention.He has been a founder and operator at KOHO, Shopify, Slyce and others. He holds a BS and MBA from McMaster University. (0:58) Discussing his career journey, Adam highlights transitions from product-focused roles to operational and go-to-market strategies.(1:41) Reflections on early career experiences include a startup exit and a shift to more operational roles.(1:58) The path into product-led growth (PLG) is described, emphasizing how diverse experiences influenced his understanding of product functions.(2:29) Emphasizing the importance of learning from successes and mistakes, Adam underlines this as a key factor for growth.(3:16) Insights from his tenure at Shopify focus on team dynamics and balancing growth with capacity.(4:46) Importance of compromise and autonomy in diverse problem-solving environments is stressed.(5:49) A problem-solving approach that starts with low-fidelity solutions, scaling up based on success, is explained.(7:35) The early mindset of "the best idea wins" has evolved to prioritize effective problem-solving.(9:07) Focusing on understanding user problems, Adam discusses finding solutions through systematic approaches.(10:36) Advocating for human-led or low-fidelity initial solutions, the emphasis is on minimizing scope in technology projects.(11:12) The advantages for early-stage companies in closely interacting with their users are discussed.(12:34) Advice for early-stage entrepreneurs centers on understanding customer needs and fostering a culture of quick decision-making.(14:28) Prioritizing user interactions and feedback over rapid scaling is highlighted as significant for early-stage companies.(15:58) In discussing product-led growth, understanding customer behavior and preferences is emphasized.(17:28) The role of human interaction in enhancing user experiences within product-led growth strategies is elaborated.(19:28) Balancing product improvement, marketing, and human interaction is advised for addressing user challenges effectively.(22:20) Integration of human elements in product-led growth strategies, especially in customer interactions, is suggested for early-stage teams.(22:43) Direct communication with users and building personal relationships are cited as advantages for early-stage companies.(24:02) A balanced approach between comprehensive data collection and practical action is advocated for data-driven decision making.(25:56) Focusing on key metrics and adapting data collection strategies based on evolving needs is encouraged.(27:05) To understand user drop-offs, focusing on positioning and value proposition is suggested when user interaction data is low.(29:03) Narrowing focus on solving specific user problems is advised for early-stage teams to avoid premature scope broadening.(31:57) Narrowing focus on specific user segments is recommended for more effective problem-solving and marketing for early-stage startups.(34:03) Focusing on user problems without rushing into monetization is emphasized as crucial in early venture stages.(36:57) Learning from sales organizations about managing leading and lagging indicators is advised for product teams.(39:51) Bold experimentation in AB testing is advocated over cautious approaches.(41:38) Quick feedback cycles are emphasized as vital for product innovation, suggesting a focus on leading indicators.(43:58) Incorporating multidisciplinary thinking and cross-team collaboration to solve user problems is recommended.(45:18) Challenges in incorporating new market dynamics into product decision-making are discussed, underlining the value of small-scale experiments.Fast Favorites:* 🎙- Favorite Podcast: The Daily* 📰- Favorite Newsletter / Blog: All In Manager* 📲- Favorite Tech Gadget: Dexcom G7* 📈-  Favorite New Trend: Gentle Parenting* 📚- Favorite Book: The Subtle Art of Not Giving a F**k* 🤔 - Favorite Life Lesson: When you're 14, you think everyone cares about you. When you're 40, you stop caring what everyone thinks. And when you're 60, you realize no one cared about you in the first place.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

With 2023 coming to a close, we thought it would be nice to reflect on the year’s trends with John Ruffolo.Doing the news breakdowns this year it’s been apparent that AI, ML, and ChatGPT have dominated. It’s been a little over a year since the chat interface was launched by OpenAI and we’ve seen a scramble in tech to catch up, a defeated coup at OpenAI itself, and many other developments in the space.We’ve also seen world politics come into the tech world in ways we haven’t seen before, how will the conflicts around the world shape tech and investing moving forward? And with interest rates poised to fall, what will that mean for global finance in 2024?In this episode, we discuss:(01:00) AI Evolution and Historical Comparison(03:16) Nvidia, Salesforce, Amazon, and Microsoft's strategies in AI infrastructure and applications(05:31) 2023 VC and Crypto Challenges(08:30) Geopolitical Impact on Tech Leadership(11:21) 2024 Predictions for Startups and Interest Rates(14:22) Potential 2024 Tech IPOs(14:52) Emerging Tech Trends for 2024(18:00) 2025 Canadian Federal Election Predictions(19:00) Entrepreneurial Advice for 2024Follow 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

The journey to Product Market Fit (PMF) and the common pitfalls for first-time founders are abundant, and finding a trusted guide to help you on your startup journey can be just as difficult. Our guest today is Pablo Srugo from Mistral VC. With his roots in co-founding Gymtrack and transitioning to venture capital, Pablo has seen or experienced many of the challenges of being a founder.In our discussion, Pablo highlights the importance of solving real problems and valuing customer feedback. He also dives into the importance of pivoting for startup survival, sharing real-world examples from his investment career. He wraps up by advising founders on balancing the long-term vision with the immediate quest for PMF, emphasizing the integration of customer feedback and market insights into their strategies.About Pablo Srugo:Pablo Srugo is a Partner at Mistral, based in Toronto. Prior to Mistral, Pablo was the co-founder and COO of Gymtrack, a VC-backed startup in the FitTech space. Pablo also co-founded an online tutoring platform, which was acquired in 2014.He also is the host of The Product Market Fit Show.(01:20) Pablo discusses his transition from founding a tutoring marketplace and Gymtrack to venture capital at Mistral VC(04:19) The importance of empathy in venture capital and how his founder experience helps him understand the challenges of reaching milestones like 10K or 50K MRR(06:26) His time as an Entrepreneur in Residence at Invest Ottawa, noting the common challenge startups face in achieving product market fit due to focusing on less significant problems(08:56) Choosing the right early customers and focusing on core business values.(10:57) Pablo’s experience with Gymtrack, discussing the challenges of finding product market fit and how revenue is not the only indicator of success(13:02) The struggle of gaining significant traction and the realization that their solution was not a top priority for their customer(23:35) Founder’s responsibility for achieving product market fit with VCs playing a supportive role(28:12) ADA’s challenges with customer service quality as its user base grew(30:24) The importance for founders to understand customer pain points and get real-time feedback, rather than delegating key roles too early(31:07) The balance of patience and urgency in venture capital, especially when a portfolio company is struggling to find product market fit(33:50) The tendency of founders, especially first-timers, to rush into building products without fully understanding the market or customer needs.(35:39) Why Minimum Viable Products (MVP) should deliver real value rather than being a half-finished product(41:16) Pablo shares his love for learning about the origin stories of companies like DuPont and FedEx, and the importance of understanding the journey to product market fit(42:00) The power of being a resilient “founder cockroach”Fast Favorites:* 🎙- Favorite Podcast: My First Million* 📰- Favorite Newsletter / Blog: Stratechery* 📲- Favorite Tech Gadget: Airpods* 📈-  Favorite New Trend: AR and AI* 📚- Favorite Book: Man's Search for Meaning* 🤔 - Favorite Life Lesson: The only thing that matters is meaningful work and meaningful relationships plus good healthFollow 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

Capital formation, aka fundraising, is the unglamorous side of venture capital. Building a strategy and executing it is the reality for both emerging managers and established brands. Our guest today is Ashton Rosin, an Operating Partner and Head of Capital Formation at Lowercarbon Capital.Ashton shares her amazing journey working in the non-profit and NGO space in Washington DC before making a complete 180 and joining the fast-paced world of hedge funds as an IR manager. Ashton explains how her time working in investor relations at a hedge fund opened her eyes to how other asset classes were so far behind when it came to managing investor relationships and how the role at Lower Carbon came to be.Lastly, we get some tips and tricks for other emerging managers struggling to raise capital and how narrowing down your target list of LPs when fundraising is a better approach than spraying and praying. And John Ruffolo is back to dissect the week’s news.About Ashton Rosin:Ashton Rosin is an Operating Partner and the Head of Capital Formation at Lowercarbon Capital where she leads the firm's partnerships with existing and future investors.Prior to Lowercarbon, Ashton was the Head of Investor Relations at Obvious Ventures where she led capital-raising efforts and built solutions for relationship management, including the ESG considerations of limited partners. She started her career in financial services leading investor relations at Clocktower Group, helping the firm to conceptualize and scale new offerings across the hedge fund and venture capital landscapes. Before her financial services career, Ashton spent her time advocating for international disability rights through her academic, policy, and direct service pursuits around the world. Ashton holds a BA in International Development and a minor in Disability Studies from UCLA. In this episode, we discuss:(1:22) Cohen and Ruffolo delve into Openview's unexpected pause in new investments and its potential causes.(2:26) Exploring the impact of possible key man clauses and layoffs at Openview.(4:10) Predictions about LPs' reactions to Openview's investment suspension.(5:37) The implications for founders backed by Openview are questioned.(7:18) Skepticism about Elon Musk's involvement in multiple businesses.(10:32) Ruffolo shares his views on Bitcoin and Ethereum's roles in investment.(14:00) Ashton recounts her journey from South Africa to the U.S. and her career shift to venture capital.(19:31) Describing her role evolution at Clocktower Group and learning in asset management.(25:10) Ashton discusses the significance of building strategic investor relationships in a climate-focused fund.(30:15) Challenges faced by emerging managers in diversifying their investor base.(36:49) The importance of personal branding for GPs in capital formation and engaging LPs.(40:56) Strategies for maintaining communication with LPs during fundraising gaps.(43:39) Insights on hiring a dedicated head of capital and the use of placement agents.(48:46) Emphasizing research for targeting prospective LPs and the benefits of networking in capital formation.Fast Favorites:* 🎙- Favorite Podcast: My Climate Journey* 📰- Favorite Newsletter / Blog: CTVC* 📲- Favorite Tech Gadget: Kindle and Mill, which offers a unique composting solution, transforming compost into a white powder used for chicken feed* 📈-  Favorite New Trend: Climate and AI investing* 📚- Favorite Book: The Unbearable Lightness of Being* 🤔 - Favorite Life Lesson: Life is like a ladder, you can go up or down, but there’s always another rung above you to pull you up.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

Once platforms for connection and communication, social media now often serves as a battleground for digital deception, with algorithms sometimes amplifying extremist content, including jihadi propaganda and anti-Semitism. This complex digital landscape calls for a sophisticated approach to separate the truth from manipulation.Our guest today, Benjamin Dubow, is an expert in navigating this challenging digital terrain. As President and CTO of Omelas, he brings a wealth of experience from his days of monitoring extremist content to leading a company that uses open-source intelligence to combat disinformation.Ben shares his journey and how his expertise in tracking and understanding loyalty to terrorist groups has evolved into addressing broader influence operations by major world powers. He delves into the ethical considerations in AI-driven intelligence and the dynamic nature of misinformation, offering an in-depth look at the societal implications of these phenomena.This episode is a must-listen for anyone interested in the interplay between technology, international politics, and the changing digital world.About Ben Dubow:Benjamin Dubow is the CTO and President of Omelas, a company that blends expert knowledge with artificial intelligence to provide comprehensive context behind data. He is also a fellow at the Center for European Policy and Analysis. His role at Omelas showcases his profound expertise in data architecture and machine learning, enabling him to conduct extensive and innovative research and analysis. Additionally, he is multilingual and proficient in Arabic, French, Farsi, and Russian, which enhances his capabilities in global tech and policy arenas.Prior to Omelas, Ben was the President of Code To Inspire, a nonprofit focused on teaching Afghan women coding skills and helping them secure online employment. He also worked as a consultant for Google, where he played a pivotal role in the removal of ISIS content from YouTube and was instrumental in establishing the Redirect Method, a digital counter-extremism effort. His background in technology and his commitment to social impact have marked him as a notable figure in both the tech and policy sectors.In this episode, we discuss:(01:27) Ben’s career transition from counterterrorism to tech-driven solutions at Omelas(04:30) His experience at Google(06:25) The opportunity he saw when founding Omelas(07:15) Omelas' distinctive approach to open-source intelligence(09:24) Techniques for content analysis and sentiment assessment in intelligence gathering(11:10) Tackling misinformation and the data explosion in the digital age(14:13) The importance of understanding different perspectives in data contextualization(17:29) Analyzing the complex world of digital truth and the rise of disinformation(22:14) The mechanics of Russian influence operations and their unique approaches(29:17) Specific characteristics of jihadi propaganda and the influence of social media algorithms(36:22) Omelas' role in counteracting extremist messaging and propaganda(38:20) Exploring the implications of generative AI in shaping perceptions in information wars(42:55) Outlining Omelas' vision and the significance of truth in information disseminationFast Favorites:* 🎙- Favorite Podcast: Midday Show with Joe Giulio and Hugh Douglas* 📰- Favorite Newsletter / Blog: Eurasia Daily Monitor from Jamestown Foundation* 📲- Favorite Tech Gadget: MidJourney* 📈-  Favorite New Trend: AI Videos* 📚- Favorite Book: Searching for Meaning by Viktor Frankl* 🤔 - Favorite Life Lesson: You only have a very, very small perspective of the world.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

John Ruffolo and Matt Cohen convene an emergency news rundown to discuss the recent OpenAI news.(00:22) OpenAI's Board’s surprise ousting of CEO Sam Altman(01:07) Impact on investors like Microsoft and Silicon Valley figures(01:29) Perspectives on OpenAI's dramatic changes(03:21) Criticism of OpenAI's governance approach(04:46) Exploration of OpenAI’s corporate structure(06:28) Implications for Microsoft and Tech Industry(07:54) Leadership dynamics and legal aspects(08:32) John's experience at the APEC Summit and discussions on AI and geopolitics.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