Tank Talks By Ripple Ventures

There’s a term of art in the business world—dogfooding. It means if you’re going to propose a solution, you should use that same solution to help better understand problems the end user may encounter. Our guest today is familiar with dogfooding, both as a business process and from literally making food for pets. Isaac Langleben made the leap from consulting to leading Open Farm, a sustainable pet food business. We talk about that leap, the Canadian Startup Scene and have a news roundup with John Ruffolo.About Isaac Langleben: Isaac Langleben is the CEO and Co-Founder of Open Farm, a premium pet food brand on a mission to deliver exceptional pet nutrition while driving a positive impact on animals and the planet. Isaac leads Open Farm’s team across Canada and the US in bringing innovative, healthy products to pets through over 6,000 pet stores & online. A serial entrepreneur, Isaac has also co-founded two other pet product companies – Canada Pooch, a leading pet accessories company and Diggs, an innovative pet supplies company.Prior to being a pet entrepreneur, Isaac was at Clairvest Inc, a Toronto-based private equity firm with over $2.4 billion of equity capital under management, and a consultant at Boston Consulting Group.He has two bachelor’s degrees from McGill University.In this episode, we discuss:(01:02) News rundown with John Ruffolo(02:08) Developments and challenges in quantum computing(04:18) Analysis of Microsoft's investment strategies(06:12) Microsoft's approach to innovation in technology(07:24) OpenAI's expansion and its implications(08:12) Challenges and opportunities in AI and consumer technology(10:26) Impact of GPT-4 Turbo on AI development(11:06) Competitive landscape in AI startups(12:58) New AI technologies and privacy concerns(14:07) Role of AI in modern technology trends(15:21) Isaac's journey from law to pet food industry leadership(17:13) His private equity experience and insights into the pet industry(18:44) Evolution of the pet food industry(21:02) Strategies for scaling and diversifying in the pet industry(23:41) Challenges and opportunities in business growth(26:18) Different investment and growth approaches(28:18) Open Farm's commitment to sustainability(30:21) Challenges in global expansion and market entry(32:20) Strategies for customer base expansion in the U.S.(34:22) Open Farm's future growth and sustainability goals(36:15) Alignment of Open Farm's mission with business objectives(38:44) Role of investors and strategic partnerships in business growth(41:51) The Canadian startup ecosystem(44:29) Encouraging entrepreneurship in Canada(47:20) Navigating supply chain challenges during COVID-19(49:38) Isaac's advocacy and educational initiativesFast Favorites:* 🎙- Favorite Podcast: Ringer NBA and Bill Simmons* 📰- Favorite Newsletter / Blog: Axios* 📲- Favorite Tech Gadget: Traeger Timberline* 📈-  Favorite New Trend: Return to work and Brazilian jujitsu* 📚- Favorite Book: Every Night is Pizza Night* 🤔 - Favorite Life Lesson: If you see something, just go for itFollow 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

On Today’s episode, we dive into the world of Family Office Investing with Ronald Shon from REDDS Capital.We talked about to him the beginnings of his family's real estate empire, the Shon Group, which flourished in Vancouver since 1954. Following his education at Stanford and Wharton, Ron took the helm of the business after his father's untimely passing, eventually diversifying into technology and venture capital investments, driven by a pivotal investment in Apple stock that revealed the limitations of real estate compared to institutional investing.Today, as the head of REDDS Capital, Ron emphasizes their distinctive approach to startup assessment, not only providing financial backing but also offering strategic guidance and networking support to foster innovation and growth within their portfolio companies.About Ronald Shon: Ronald Shon Chair & GP of REDDS Capital in Vancouver. He has investments in technology, education, real estate, natural resources, fashion, private equity, and venture capital primarily in North America and Asia. He was a founding shareholder of Salman Partners Inc. an independent boutique investment banking firm that has raised over $20 billion CDN.In this episode, we discuss:(01:11) News Round-Up with John Ruffolo(18:32) Ron Shon's Journey into Real Estate and Investment(21:14) Transition from Real Estate to Technology and VC Investments(23:50) How Ron’s international worldview impacted his perspective in Vancouver(25:18) Insights on Real Estate Development and Challenges(31:09) Investing in Technology and Venture Capital(34:50) Assessing Potential Startup Investments(39:06) Impact of Investments and Future Plans(47:50) Advice to his children and the next generation of investorsFast Favorites:* 🎙- Favorite Podcast: Fast Money* 📲- Favorite Tech Gadget: iPhone* 📈-  Favorite New Trend: AI* 📚- Favorite Book: The Fourth Industrial Revolution* 🤔 - Favorite Life Lesson: Always have a planFollow 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

As the Canadian Tech scene expands, we often are aided by Canadians abroad who have gained experience and expertise in various aspects of startup life and culture. Our guest today is Andre Charoo, Founder and GP of Maple Ventures, which invests in founders with Canadian roots.We spoke about the lack of early-stage Canadian investors on the cap tables of successful companies like Instacart and Wish even though their founders have Canadian roots and what it was like being an early employee at both Uber and Hired.Maple started in 2016 with just $1.2m in commitments and currently has over $16M in AUM.And John Ruffolo is back to discuss the news.About Andre Charoo:Andre Charoo is the Founding Managing Partner at Maple VC, an early-stage venture capital fund based in San Francisco that backs Canadian-led companies. Andre’s deep operational expertise stems from helping to scale some of the most successful companies around, including his time as one of the first 25 employees at both Uber and Hired. He is also a Co-Chair of The C100, an influential community of Canadians in tech.In this episode, we discuss:(0:01:11) News rundown with John Ruffolo(0:14:09) Andre’s jounrey from Markham, Ontario to Silicon Valley investor(0:31:19) Lessons from being an early employee at Uber and Hired(0:38:21) The problem with Canadian investors(0:40:11) Why all successes are unique(0:43:03) How he signed on to be a Venture Partner with Inovia Capital(0:47:23) Operating from his homebase in Seoul, SK while investing in North America(0:53:39) Tools he uses to stay organized(0:55:48) How Maple’s portfolio construction has evolved(1:00:20) Demonstrat value and viability to his LPsFast Favorites:* 🎙- Favorite Podcast: Acquired* 📰- Favorite Newsletter / Blog: The Generalist* 📲- Favorite Tech Gadget: Too many to name* 📈-  Favorite New Trend: AI* 📚- Favorite Book: Shoe Dog* 🤔 - Favorite Life Lesson: Put yourself in uncomfortable situations because that's how you will growFollow 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 grass is always greener, as the saying goes, and when our guest today saw the opportunity to build his lawncare empire and launch GreenPal, a lawncare marketplace he jumped in with both feet and never looked back.Bryan Clayton is the Co-Founder and CEO of GreenPal, and has lived the lawn care life before. He also knew what lawn care professionals needed and what lawn care customers wanted, but he didn’t know much about launching an app.Today, GreenPal is the largest on-demand lawn care marketplace in the US with the goal to be the easiest way to book a local lawn care company for yard maintenance services at an affordable price.We talked to Bryan about his career journey, how to sell your company, and the decision to bootstrap GreenPal to $30M in GMV.About Bryan Clayton:Bryan Clayton is the Co-Founder and CEO of GreenPal, an online marketplace that connects homeowners with local lawn care professionals. GreenPal has been called the “Uber for lawn care” by Entrepreneur magazine and has over 300,000 active users completing thousands of transactions per day.Before starting GreenPal, Bryan Clayton founded Peachtree Inc., one of the largest landscaping companies in the state of Tennessee, growing it to over $10 million a year in annual revenue before it was acquired by Lusa Holdings in 2013. Bryan‘s interest and expertise are related to entrepreneurism, small business growth, marketing, and bootstrapping businesses from zero revenue to profitability and exit.In this episode, we discuss:(01:14) Bryan’s 10-year journey to being an overnight success(02:04) What building a sales process was key to his first business, Peachtree(03:22) Scaling the sales team(07:30) Deciding to sell Peachtree(10:13) How he built GreenPal differently and why they have bootstrapped(12:37) The evolution of his leadership style at GreenPal(14:42) How GreenPal solved the marketplace problem by focusing on the supply side first(17:15) Has bootstrapping effected their decision-making(23:27) How being an industry insider helped him navigate a lot of the blockers in starting GreenPal(26:33) The importance in building community in their lawn care professionals(28:23) Advice for other marketplace founders(30:29) The decision tree for his time and why he says no to many requests(34:05) Understanding a job function before you delegate(34:49) The most rewarding aspect of being an entreprenuer(36:19) What the next 10 years of GreenPal looks likeFast Favorites:* 🎙- Favorite Podcast: All In* 📰- Favorite Newsletter / Blog: Lenny’s Newsletter* 📲- Favorite Tech Gadget: iPhone* 📈-  Favorite New Trend: Large Language Models* 📚- Favorite Book: Seven Habits of Highly Effective People, The Cold Start Problem* 🤔 - Favorite Life Lesson: Walk your store.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

There are moments that can make your day-to-day life come to a halt. What happened in Israel on 10/7 is the sort of public tragedy that stops the normal course of life, it also creates an impact of devastation that will go on for years to come.These events have struck a chord with us personally as members of the Jewish community. Many of our investors and partners share this connection, whether directly or indirectly, and are being impacted by these unspeakable events.As a firm, we want to clearly state that we unequivocally stand behind Israel and its right to defend itself and its people against terrorism. In the face of terrorism or any acts of violence against our fellow communities, we will remain resolute in our support.We are grateful for the messages of concern and solidarity that we have received from both Jewish and non-Jewish founders and VC colleagues who have reached out to inquire about the safety of our family and friends during these events.In times like these, we all need to support one another.Today we welcome Itamar Novick, an operator, investor, and Israeli who founded Recursive Ventures, a firm based in Berkeley, CA.We spoke about the news he is getting from the ground in Israel and his views on what the future might hold for the country and the world. We also have John Ruffolo on to discuss the current headlines making news around the world. 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

Fintech regulations around the world can vary wildly, but here in Canada, they can be particularly onerous. Today someone who is no stranger to redefining and working through the complexing of Canadian regulations. Our guest is the Founder and CEO of KOHO Financial, Daniel Eberhard.Dan grew up in a tiny town in British Columbia and now runs a company with over 250 employees and $275m in financing.We talk about how bad the Canadian regulatory environment is for fintech companies and why innovation in the industry is being throttled by the government and their respective industry advisory groups.About Daniel Eberhard:Daniel Eberhard is the Founder and CEO of KOHO Financial. He started his career in 2010, building Kineticor Renewables Inc., a Saskatchewan wind farm company he and partner Andrew Plaunt began as a class project. They sold in 2011 to renewable energy giant Algonquin Power & Utilities Corp. Eberhard then decided to take on Canada’s bank giants by starting Koho Financial Inc. in 2014. Koho does away with the bank fees most users pay by providing them with a free, prepaid Visa card and mobile software to do many of their transactions such as taking direct deposits, paying bills, and making electronic transfers. Koho is not a bank but has partnered with Vancouver-based Peoples Trust Company to hold clients’ money while Koho handles the user interface, earning money by taking a portion of the interchange fee that merchants pay to process credit card transactions.In this episode, we discuss:(01:11) Dan’s path to becoming an entrepreneur(05:05) Lessons he learned from his mom about business(06:53) The problems with Canada’s banking regulations(09:26) Why the name KOHO(10:40) The culture at KOHO(13:57) Finding the right fit for new hires(17:50) How EQ figures into Dan’s leadership style(20:36) The impact of coaching and therapy on his leadership(22:52) The role of coaches at KOHO(30:22) How Dan is able to focus and compartmentalize his work(32:31) Why Fintech innovation is failing in Canada(37:26) How the market for fund raising and managing capital as a startup has changed(39:20) The next five years for KOHO(41:41) Advice to new founders(44:08) Early feedback from users(45:06) KOHO’s current relationship to other bankers(45:56) Life if Dan wasn’t a founderFast Favorites:* 🎙- Favorite Podcast: Sam Harris* 📰- Favorite Newsletter / Blog: Wait But Why* 📲- Favorite Tech Gadget: Oura* 📈-  Favorite New Trend: Deoptimizing your life* 📚- Favorite Book: The Lessons of History by Will and Ariel Durant* 🤔 - Favorite Life Lesson: Watching how hard his mom workedFollow 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

Prashant Matta, General Partner at Panache Ventures, shares insights from his impressive background with OMERS Ventures and Samsung. He discusses the evolution of the Canadian venture scene and the impact of market downturns on investment strategies. Prashant highlights Panache’s focus on pre-seed and seed-stage investments and the essential role of diversity in startups. He also reflects on lessons learned from working closely with founders and the significance of adapting to changing market conditions. A must-listen for aspiring investors!

This week we have a titan of Private Equity and Real Estate in Canada, Jon Love the Founder and CEO of KingSett Capital.Jon shares some incredible stories from his early years of running Oxford Properties, the lessons he learned from helping the firm navigate two real estate market downturns, and how the eventual sale to OMERS came to be.Jon discusses the reasons he decided to launch KingSett Capital back in 2002, how his leadership style has evolved from his days at Oxford, and how he has been able to grow the firm’s assets to over $17B.We dig into how Canada is falling behind on many aspects of innovation, the return-to-office mandates CEOs are facing today, and his thoughts on the current political climate in Ottawa.Plus we have John Ruffolo back to talk about the week’s news.About Jon Love:Jon Love is the founder and CEO of KingSett Capital, a prominent private equity real estate investment firm. Since its inception in 2002, KingSett has impressively managed over $17 billion in assets, earning a strong reputation for its effective investment strategies across various sectors, including Growth, Income, Urban Development, Mortgage, Residential Development, and Affordable Housing.Before his leadership at KingSett, Jon had a distinguished career at Oxford Properties, beginning in 1980 and eventually becoming President in 1987 and then CEO in 1992. He notably guided Oxford's transition to a publicly traded company in 1995. In 2001, Oxford was privatized when it was acquired by the Ontario Municipal Employees Retirement System (OMERS) in a $4 billion deal.Jon actively participates in prestigious business organizations and has received numerous accolades for his leadership and academic achievements, including an Honorary Doctorate from Western University in 2016, membership in the Order of Canada (C.M.) in 2018, and prestigious awards such as the Ivey Business Leader of the Year Award and the NAIOP Rex Icon Award in 2023.In this episode, we discuss:(0:01:04) News rundown with John Ruffolo(0:21:57) Jon Love’s career journey(0:23:08) Advice his father Don Love gave him as he took over Oxford Properties(0:24:12) How Jon’s experience selling Oxford shaped his view on when to sell(0:26:47) The importance of leveling with creditors and investors(0:30:50) Why he didn’t view as a Oxford a family business(0:33:35) How Jon’s approach evolved when he started KingSett Capital(0:34:26) On second-guessing himself for starting a new business(0:35:38) Making the jump to entreprenuership(0:38:40) How KingSett works to retain talent(0:40:30) How Jon’s approach to fundraising has changed over time(0:41:16) Why no deal is too small for KingSett(0:42:18) Derisking deals to protect against broader market trends(0:44:11) What current market conditions have meant for KingSett(0:45:23) The state of equity deals(0:46:18) Why innovation is lagging in the Real Estate sector(0:48:22) The importance of ESG to Jon and KingSett(0:50:42) Thoughts on the Canadian residential Real Estate market(0:54:39) Advice to younger leaders and CEOs(0:56:15) Why face to face is important(0:57:30) How Jon uses his Family Office Jona Capital(0:58:32) Jon’s passion investments(0:59:34) Political ambitions(1:02:19) How competitive Canadian capital is in the global marketplaceFast Favorites:* 🎙- Favorite Podcast: Tank Talks* 📰- Favorite Newsletter / Blog: Bloomberg News* 📲- Favorite Tech Gadget: His Phone* 📈-  Favorite New Trend: Facetime for keeping up with family* 📚- Favorite Book: Kids books with his grandchildren* 🤔 - Favorite Life Lesson: Bet on peopleFollow 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

We are big fans of coaching as a way to make career (and life) progress. Having a seasoned third party helping guide you through big decisions and day-to-day processes can be an invaluable edge in business. Our guest today is Joe Dunn, Principal at Cloudbreak - Executive and Founder Leadership Coaching.We dig into some of Joe’s coaching strategies when dealing with young leaders, how his coaching style sets him apart from the other CEO coaches out there, and how Joe balances emotional and rational responses when coaching founders who are struggling to find ways to drive company growth and personal development as a leader.About Joe Dunn:Joe Dunn, Principal at Cloudbreak - Executive and Founder Leadership Coaching, is a certified CTI Professional Coach known for his "Candor Coach" role with the Radical Candor team. With an impressive client roster that includes industry giants like Airbnb, Pinterest, LinkedIn, Asana, Envoy, Segment, and Plaid, Joe specializes in coaching CEOs, founders, executives, and technical leaders in the tech sector. His extensive background encompasses key early roles in three successful startups that went public and another that achieved a noteworthy $250 million sale. From humble beginnings in startup garages to a six-year stint as a product/engineering VP in a publicly traded company, Joe brings a wealth of experience spanning all stages of company growth.Joe's clients, typically founders, executives, and technical leaders, seek his guidance for personal and organizational growth. He offers expertise in various aspects of effective management, including hiring, communication, and navigating organizational change. Moreover, he helps clients uncover and transform fundamental personal patterns that drive success, making him a versatile and invaluable resource for individuals and organizations aiming to reach their next level of achievement.In this episode we discuss:(01:13) Joe’s journey to becoming a leadership coach(04:37) Parallels between coaching and parenting(07:45) Coaching founders and CEOs to be better communicators(09:50) An early experience that showed Joe the importance of a good coach(13:41) Helping founders become leaders(15:49) How surfing around the world with his son helped Joe evolve as a coach(18:03) Joe’s coaching style(22:06) Advice that Joe is giving in this current market to founders(26:13) Common traits amongst successful founders(28:21) How founders can empower their teams and delegate(30:42) What to do if delegating backfires(32:14) Advice to remain mindful and have a work-life balance as a founder(35:03) Perceptions of coaching in the marketplace(37:34) How Founders can maintain their overall focus on their long-term vision(40:03) Will AI replace coaches?Fast Favorites:* 🎙- Favorite Podcast: Prof Galloway* 📰- Favorite Newsletter / Blog: Ben Evans* 📲- Favorite Tech Gadget: Electric Bikes* 📈-  Favorite New Trend: Psychedelics* 📚- Favorite Book: Possession by A. S. Byatt* 🤔 - Favorite Life Lesson: There's way more time than you thinkFollow 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

Building a career is a series of choices, outcomes of those choices, and then reacting to those outcomes. Sometimes a small choice can have an outsized return, sometimes the reaction to an outcome can lead you down a new path. In investing we are looking for power-law returns, the small bets that we can return exponential value.Our guest today is an investor who has seen some amazing choices turn into huge returns and even better stories to teach and entertain us. Alexander Niehenke is a Partner at Scale Venture Partners where he specializes in Vertical SaaS investing.And John Ruffolo is back to talk about the news!About Alexander Neihenke:Alex Neihenke is a Partner at Scale Venture Partners since 2017. He has focused on early investments in vertical software markets where incumbents have failed to invest in advanced technology offerings. That thesis has led to investments in Archipelago, Dusty Robotics, Motive formally KeepTruckin, Root Insurance, Scout RFP, Spruce, Proscia, and Proxy. Motive has been one of the fastest growing SaaS companies of all time; Scout RFP was acquired by Workday in late 2019 for $540M; and Root completed its IPO in late 2020.He received his bachelor’s from UC Berkeley.In this episode we discuss:(0:00:56) News rundown with John Ruffolo(0:16:27) Alexander’s path to becoming an investor(0:18:45) The effect of watching his dad work so hard(0:20:50) Alex’s experience working in the banking industry(0:24:31) How the experience at Crosslink Capital shaped his career(0:25:56) His role advising Dollar Shave Club(0:28:08) On investing in friends(0:29:46) Joining Scale Venture Partners in 2013(0:32:17) How he focused on Vertical SaaS(0:35:23) Alex’s definition of Vertical SaaS(0:36:20) Misconceptions around Vertical SaaS(0:38:11) Why there’s a misunderstanding around TAM(0:40:08) Case studies around misaligned TAM(0:44:04) Lessons from his investment in Root Insurance(0:48:59) How Scale’s outlook has evolved over the last few years(0:52:06) Why Alex invested in Ripple Portfolio company Rose Rocket(0:54:30) Rules he lives by when joining a new board(0:57:29) What makes a good board member(1:00:00) Why Alex writes about industries prior to investing in them(1:02:52) Thoughts on the AI investing craze(1:05:47) Using data to analyze massive volumes of startups and their success(1:09:16) What would he be doing if he wasn’t an investorFast Favorites:* 🎙- Favorite Podcast: I’ll Drink To That* 📰- Favorite Newsletter / Blog: Scale Studio Flash Updates* 📲- Favorite Tech Gadget: Pokeball* 📈-  Favorite New Trend: 90’s Fashion, Open Water Swimming* 📚- Favorite Book: Catch-22* 🤔 - Favorite Life Lesson: Find humor in thingsFollow 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