null Over the past twenty years, tech entrepreneurs have created and captured enormous value by launching new marketplaces to the world. Today NFX Partner James Currier talks with Professor Scott Duke Kominers, who has been teaching the course 'Making Markets' along with other classes at Harvard Business School. With over 80 academic papers published, he is in the MBA Class of 1960 Associate Professor of Business Administration in the Entrepreneurial Management Unit, as well as a Faculty Affiliate of the Harvard Department of Economics, the Harvard Center of Mathematical Sciences & Applications, and a Research Economist at the National Bureau of Economic Research. Scott's course helps students identify and capitalize on marketplace design opportunities. James and Scott discuss attributes that determine whether and how marketplaces create value in the world as well as common causes of marketplace failure. They then present frameworks for designing marketplaces in response and discusses tactics for building trust and liquidity when launching new marketplaces. This is the ultimate course on marketplaces. Read the NFX essay - https://www.nfx.com/post/scott-duke-kominers/

In this episode, NFX discusses the crucial role of Key Performance Indicators (KPIs) in startups. They delve into the significance of daily reports, introduce a KPI checklist, and guide on developing precise, measurable KPIs. The episode also explores the importance of time-specificity, actionability in KPIs, and benchmarking against competitors. This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community. Everyone knows that KPIs are critical, but often Founders are not looking at KPIs from the right angle. As a General Partner at NFX, Gigi Levy-Weiss now asks three questions to every Founder he meets. Their responses speak volumes about their odds of success: - Do you diligently track KPIs?- What KPIs have you chosen to track?- Have you set appropriate goals based on your KPIs? Read the full NFX Essay here - https://www.nfx.com/post/how-vcs-see-your-kpis/ (0:00) Introduction (0:14) Discussing the Importance of KPIs for Startups (0:51) Significance of Daily Reports in Monitoring Key Numbers (1:45) Introduction to the KPI Checklist (3:07) Developing Precise and Measurable KPIs (5:12) The Role of Time Specificity and Actionability in KPIs (7:24) Benchmarking Against Competitors (8:05) Conclusion and Preview of Next Episode

In this podcast, they discuss the impact of the pandemic on the job market and the future of work. They explore the evolution of labor marketplaces, the potential of vertical job marketplaces, and the challenges of building labor marketplaces. They emphasize the importance of reskilling and upskilling, as well as the need for high-quality service and diverse options for workers.

In this episode, Eran Ben-Shusham, a seasoned entrepreneur, shares his company's journey through a business model pivot. He discusses the critical role of speed, execution, and strong company culture during a crisis. The conversation also delves into the shift towards virtual events, dealing with new customer needs, and the challenges of scaling during a pivot. Additionally, Eran speaks on the emotional impact of a disappearing core business and the importance of maintaining company values throughout the transition. In the face of a global pandemic and a financial meltdown, Founders are confronted with a new reality. If you are running a startup today, this will likely be one of the most challenging climates you’ll ever face. Launched in July 2012, Bizzabo is a SaaS All-in-One event success platform. They help organizers create successful events by empowering them to build amazing websites, sell tickets, grow communities, go mobile and maximize event experiences - using a beautiful, user-friendly platform. Despite Covid canceling all conferences and in-person events, Bizzabo was able to complete a funding round of $138 million. NFX Partner Gigi Levy-Weiss talks with Bizzabo Co-Founder & CEO Eran Ben-Shusham about their strategy during COVID including customer acquisition, fundraising, and overall growth during the downturn. Eran shares his mindset as a company leader and how he and his team navigated the crisis to come out the other side ahead in hypergrowth mode. Read the NFX article here - https://www.nfx.com/post/bizzabo (0:00) Introduction to the NFX Podcast and guest interviewee, Eran Ben-Shusham (1:40) Discussion on Eran Ben-Shusham's company's initial product and business model pivot (6:09) The importance of speed, execution, and company culture during a crisis (10:30) Shift towards virtual events and understanding new customer needs (17:09) Challenges and strategies of operating at scale during a pivot (25:19) Sponsor: NFX (25:39) Emotional impact of a core business disappearing and shifting mindset to see opportunities (39:43) Importance of company values, culture, and communication in crisis management (52:40) Transitioning from defense to offense and adapting to changing business environment (1:03:50) Maintaining company's core mission and culture despite the pivot

In this episode, NFX explores the art of VC negotiations, discussing how to communicate your valuation and handle low baller offers. They delve into talking in pre-money valuation during startup fundraising, ESOP allocations, and distinguishing leaders from followers. Additionally, they emphasize the power of controlling the deadline and the role of self-awareness in fundraising negotiations. This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community. Fundraising is a learned skill – and VCs almost always have the upper hand because they deal with it all day, everyday. Over the years of founding, advising, and investing in companies, Gigi has learned that VCs are better at startup fundraising than entrepreneurs. In reality, knowing what to expect from VCs – the negotiation dynamics Founders are likely to encounter – is half the battle. Before you start communicating with VCs, take the time to learn how to detect and manage these 8 little-known fundraising dynamics. This is what we at NFX call “high leverage fundraising” – it gives you speed & clarity, while still helping cultivate strong, long-term relationships. Let’s dig in. Read the full NFX Essay - https://www.nfx.com/post/8-top-skills-founders-startup-fundraising/ (0:00) Introduction and Overview (1:03) Mastering VC negotiations: Avoiding the portfolio company opinion (2:38) The art of communicating your valuation (3:48) How to handle the low baller offer (5:54) Talking in pre-money valuation during startup fundraising (7:43) Understanding ESOP allocations (9:25) Distinguishing the leaders from the followers (10:51) The power of controlling the deadline (13:03) The role of self-awareness in fundraising negotiations (13:29) Conclusion and sign off

In this NFX Podcast episode, the discussion centers on the importance and ubiquity of game design. The team delves into the principles of innovation, objectives, constraints, and success criteria in game design, followed by an exploration of reward systems, play's role, and competition in game design. This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community. Life is, by some measures, an infinite game, where the rules constantly change and winners turn into losers, and vice versa. This article is titled, “7 Principles of Game Design” and was written by The Design Gym - an NYC-based agency that has worked with top companies like Instagram, Netflix, Etsy, and many more. Setting up games, with clear goals and constraints helps focus our energies and efforts and can improve and clarify outcomes and motivate us to move forward to the next clearly defined challenge and reward cycle. Read the essay here - https://www.thedesigngym.com/seven-principles-of-game-design-and-five-innovation-games-that-work/ (0:00) Introduction (0:14) The Importance and Ubiquity of Game Design (1:19) Principles of Game Design and Innovation (2:32) Objectives, Constraints, and Success Criteria in Game Design (3:28) Reward Systems and the Role of Play in Game Design (4:16) Competition in Game Design and Conclusion

In this episode, James Currier converses with guest Saar Gur about his entrepreneurial journey in Silicon Valley. They discuss Saar's transition from entrepreneur to venture capitalist, his approach to investing, and the importance of emotional connection. They delve into Saar's successful investments in DoorDash and Patreon, the power of creators, and the potential in Patreon. The conversation also covers identifying investment opportunities through Reddit communities and crypto movements, characteristics of successful founders, and a case study on Ring's evolution. Saar Gur is one of the best investors in Silicon Valley and has a gift of identifying the next big consumer trends earlier than most. As a General Partner at CRV, he was recently highlighted as #34 in the Forbes Midas List of the World's Best Venture Capital Investors In 2021. Saar loves products that consumers and customers love and is passionate about helping his companies succeed. His early investment in the food delivery company DoorDash was in the 2013 seed round, which eventually resulted in the company going public last December. Gur made a similar early bet on smart home company Ring the same year; Amazon acquired that company for $1 billion in 2018. Gur is also an investor in multiple fast-growing tech startups like Patreon, which is now worth $3 billion, and Classpass, which is worth more than $700 million. Others include Niantic, Bird, and Dropbox. Today, longtime friend and NFX Partner James Currier talks with Saar to uncover these early investment stories and his pattern recognition in early-stage founders. James also uncovers who he is as a person, what he looks for in early-stage Founders, and how he sees the world as a whole. (0:00) Introduction to the NFX podcast and guest Saar Gur (4:55) Saar Gur's entrepreneurial journey in Silicon Valley and the dot com era (8:32) Saar Gur's transition from entrepreneur to venture capitalist (15:24) Saar Gur's approach to investing and the importance of emotional connection (18:12) Saar Gur's successful investments in DoorDash and Patreon (25:20) The power of creators and the potential in Patreon (32:36) Identifying investment opportunities through Reddit communities and crypto movements (36:25) Characteristics of successful founders and the importance of original product thought (37:48) Case study: The evolution of Ring from DoorBot to a home security company (39:26) Outro: NFX's mission and call to action for listeners

In this episode, James Currier and Omri Amirav-Drory delve into synthetic biology and tech bio, introducing guest Asaf Zviran, CEO of C2I. They discuss the impact of tech bio on industries, strategies for hiring and fundraising in a virtual world, and the balance between science and business in startups. They also explore the future of cancer treatment and provide valuable advice for startup founders. The team at C2i Genomics is combining cutting-edge genomics and sophisticated AI to provide the world’s first whole-genome cancer intelligence platform, transforming the way cancer is monitored and treated. C2i uses a blood test that can detect and quantify tiny amounts of residual cancer to better monitor cancer treatment, progression, and recurrence. NFX was an early stage investor in C2i due to their long-term vision and world-changing technology. Listen to NFX Partner Omri Amirav-Drory talk with Asaf Zviran, Co-founder & CEO of C2i Genomics, about the future of their company, their latest technological breakthroughs, and where the industry is headed in the near future. Asaf and Omri's conversation begins at 11:15 Visit C2i to learn more - https://c2i-genomics.com/ (0:00) Introduction and Discussion on Synthetic Biology and Tech Bio (1:24) Introduction to Omri Amirav-Drory and NFX Bio (3:03) Impact of Tech Bio on Various Industries and Future Developments (6:28) Introduction to Pete and Liquid Biopsy for Cancer Monitoring (11:18) NFX Bio Investment Thesis and Conversation with Asaf Zviran, CEO and Founder of C2I (25:23) Asaf Zviran on Managing a Diverse Team and Overcoming Challenges (29:43) Hiring, Recruiting, and Fundraising Strategies in a Virtual World (31:20) Balancing Science and Business in a Startup and Transition from Academia to Industry (38:07) End of Part 1 and Transition to Part 2: Series B Funding and Scaling Up (41:46) Overcoming Challenges in Bio Startups and Future of Cancer Treatment (44:51) Advices for Startup Founders and Quick-fire Round (48:25) Closing Remarks and End of Episode

In this episode, Tony Fadell and Pete Flint discuss the role of fresh perspectives in entrepreneurship and how climate change can be addressed as a design problem. They explore the importance of storytelling in startups, the iterative process of startup development, and the value of learning from failure. The conversation also covers reflections on the product design process and the relationship between constraints and creativity. It’s not often you get to see through the eyes of someone who created a product that you and hundreds of millions of other people use, hundreds of times a day, every single day, and have for a decade or more. Tony Fadell is the legendary inventor of the iPod, co-inventor with Steve Jobs of the iPhone, and Founder of Nest. Now he is the Principal at Future Shape, an investment and advisory firm coaching over 200+ startups. There’s almost an infinity of things to learn from Tony, but what we most wanted to uncover are his product frameworks and first principles for design. How can Founders think about designing products that are both high-utility and beloved -- that achieve dent-in-the-universe levels of adoption? As Tony puts it: For truly great designs, 50% of the design is the design. 50% of the design is the story behind the design. And it all begins with re-learning how to see. (0:00) Introduction and guest Tony Fadell (3:01) The role of naivety and fresh perspective in entrepreneurship (8:15) Addressing climate change as a design problem and the role of storytelling (14:25) Learning from the pandemic and the relationship between constraints and creativity (20:00) The importance of storytelling in startups and decision making (23:04) The iterative process of startup development and assisting founders (35:21) The importance of being a troublemaker and learning from failure in entrepreneurship (44:17) Reflections on product design process, sprints, and failure modes

Former YouTube executive Shishir Mehrotra provides insights on team structure, cross-functional coordination, and communication best practices. Topics include meeting cadences, canceling unnecessary meetings, and effective communication methods at YouTube.