Tank Talks By Ripple Ventures

Matt Cohen interviews Jayesh Parmar, founder of Picatic, a ticketing platform acquired by Eventbrite, and current wellness innovator with Gunkii. Jayesh discusses building a startup in Saskatoon, navigating challenges, competing against incumbents, and lessons learned from scaling a company. He also shares insights into his current venture, Gunkii, and his contributions to the startup ecosystem.About Jayesh Parmar:Jayesh Parmar is the Co-CEO and founder of Gunkii, a wellness brand launched in 2021 that focuses on luxury tongue scrapers. He is responsible for leading product innovation and strategic growth in the oral health space.Previously, he was at Eventbrite after acquired his startup, Picatic a global event ticketing platform serving 46 countries, known for its innovative pricing models. Earlier, Jayesh founded Boom Music, an event production and live music management company, which he ran from 1997 to 2011. He also spent over a decade as a teacher with Saskatoon Public Schools.Jayesh holds a bachelor’s degree from the University of Saskatchewan.Discussion Highlights:* 00:20 Founding Picatic: Competing with Eventbrite using innovative pricing models* 00:37 Early challenges of building a startup: Funding, market confusion, and team building.* 02:11 Scaling from Saskatoon and the role of accelerators in San Francisco, Toronto, and New York* 03:44 Competing with Eventbrite: Pay-What-You-Want and freemium pricing models* 09:00 The importance of "dogfooding" in refining Picatic’s product* 16:32 Celebrating milestones like reaching $10 million in sales* 18:50 The Eventbrite acquisition: How it happened and preparing for M&A* 21:00 Practical advice: Keeping a clean data room and leveraging exited founders as advisors* 27:13 Mentorship and giving back to the startup ecosystem* 28:31 Viewing failure as a data point and using it to improve* 31:00 Creating Gunkii: A wellness product inspired by cultural heritage* 33:24 What’s next: Supporting startups as a mentor and advisorFast Favorites:* Favorite Podcast: All In* Favorite Newsletter: Lenny’s Newsletter* Favorite Tech Gadget: Boardy.ai* Favorite New Trend: Wellness-focused retreats for entrepreneurs* Favorite Book: Principles by Ray Dalio* Favorite Life Lesson: “Your presence matters more.”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 welcomes back John Ruffolo, of Maverix Private Equity, for a discussion on Neo Financial’s recent funding round, the state of IPOs, antitrust actions against Google, the dominance of NVIDIA in AI hardware, and the speculative nature of MicroStrategy's Bitcoin strategy. * (00:55) Neo Financial's $362 Million Series D RoundAnalysis of the Calgary-based challenger bank's latest financing round, including a significant valuation drop since 2022 and insights into structured equity and debt financing.* (03:20) Fintech Valuation ResetsJohn reflects on the aggressive valuations during 2019-2021 and applauds founders navigating down rounds responsibly.* (06:22) Klarna and IPO TrendsDiscussion of Klarna's IPO and broader market activity, including ServiceTitan's filing and a potential boost in M&A and IPOs.* (08:47) Antitrust Pressure on GoogleThe DOJ's push to dismantle Google's Chrome browser and Android dominance, its implications for AI development, and the historical irony compared to Microsoft's Netscape case.* (12:49) NVIDIA’s Dominance in AI HardwareExploration of NVIDIA’s record-breaking revenues, its chokehold on AI compute, and the challenges potential competitors face.* (15:46) OpenAI’s Costs vs. RevenueA deep dive into OpenAI's staggering operational costs and projected losses for 2024, highlighting the high stakes of AI innovation.* (16:45) MicroStrategy’s Bitcoin StrategyDiscussion of MicroStrategy’s Bitcoin-heavy balance sheet, its valuation compared to its holdings, and parallels to previous financial collapses.* (19:00) Final Thoughts and TakeawaysJohn reflects on exuberance in speculative markets and the risks of over-leveraging in volatile assets like Bitcoin.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 Rikhtegar of RBCx discuss the insights from Rikhtegar's report on capital exited in Canadian venture capital over the past decade. They talk about the importance of understanding capital efficiency, market cycles, and the power law in venture exits.John emphasizes the need for a comprehensive view of the venture ecosystem, focusing on capital allocated, invested, and exited. The discussion also the current state and future of Canadian venture capital, emphasizing the importance of capital efficiency, the challenges of growth at all costs, and the evolving landscape of funding. They analyze data on exit values and funding ratios between Canada and the US, highlighting the need for Canadian investors to adapt their strategies to achieve better outcomes.And John Ruffolo from Maverix PE stops by to discuss the week’s news.About John Rikhtegar:John Rikhtegar is the Director of Capital at RBCx, where he leads investments in venture capital funds and startups, while driving strategic initiatives to enhance transparency and value in Canada's private markets. With a focus on supporting the venture ecosystem, John has played a key role in fostering innovation and growth across the country.Before joining RBCx, John built an impressive career in tech and operations. He held senior leadership roles at Kognitiv Corporation, guiding strategic transformations in Canada and the UK, and was part of the founding team at VaynerCommerce, leading revenue growth in the UK and EMEA. At Shopify Plus, he worked with high-growth, enterprise-level merchants, helping scale some of the world’s most innovative brands.John holds an Honors Business Administration (HBA) degree from the Ivey Business School at Western UniversityNews Rundown with John Ruffolo(01:00) Analysis of Q3 2024 Canadian venture capital activity: Record-breaking headline numbers but troubling declines in early-stage domestic investment.(03:00) Impact of Canada’s capital gains tax increases on angel investments and early-stage startups.(05:23) U.S. investment dominance in Canadian deals and the challenges for domestic capital raising.(10:50) Klarna’s rebound after valuation cuts as a roadmap for startups navigating downturns.(12:35) Databricks' secondary funding move and the tension between liquidity needs and IPO delays.(16:50) Public-private sector collaboration in the U.S. and lessons Canada could adopt for governance efficiency.Interview with John Rikhtegar(20:20) John Rikhtegar’s career journey: From Shopify to VaynerMedia to leading RBCX Capital.(24:30) The origins of the Spotlight report and why analyzing capital exited, not just invested, is critical to understanding venture ecosystem health.(28:00) Market cycles and their impact on liquidity, with 2020-2021 generating 50% of Canada’s total exit value over the past decade.(30:26) The power law in Canadian venture exits: The top 50 exits accounted for 85% of all exit value.(32:00) Capital efficiency and its implications for founders, GPs, and LPs: Why bigger isn’t always better.(36:00) Canada’s advantage in building capital-efficient companies due to constrained resources compared to the U.S.(38:00) Practical advice for investors: Staying disciplined on entry prices and prioritizing ownership-sensitive investments in early-stage companies.(46:08) Comparing Canada and U.S. capital efficiency: Lessons learned and the importance of scaling the 1.6x efficiency ratio for Canadian venture capital.Fast FavoritesFavorite Podcast: 10X Capital by David WeisbergFavorite Newsletter or Blog: Clouded Judgment by Jamin BallFavorite Tech Gadget: Garmin WatchFavorite New Trend: Cooking at homeFavorite Book: The Score Takes Care of Itself by Bill WalshFavorite Life Lesson: Don’t worry about things outside of your control.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, Matt Cohen interviews Bill Macaitis of SaaS CMO Pro. Bill was instrumental in scaling B2B SaaS giants like Salesforce, Zendesk, and Slack. The conversation covers Bill’s transition from B2C to B2B, bringing consumer marketing techniques into enterprise SaaS, and his role in IPO successes for companies like Zendesk and Slack. Bill also delves into building high-performing, customer-centric marketing teams, strategies for effective inbound and outbound marketing, and the importance of brand differentiation, even in the traditionally risk-averse B2B space. They also explore the evolving role of AI in marketing and the shift in customer acquisition strategies using product-led growth (PLG) models.And John Ruffolo is back to break down the news of the week!About Bill Macaitis:Bill Macaitis is the founder and CEO of SaaS CMO Pro, a platform that helps B2B SaaS and AI companies grow through customer-centric, capital-efficient strategies. He also provides advisory services to founders on scaling marketing and sales.Previously, Bill served as CMO and CRO at Slack, where he led the company to a $16 billion IPO and later acquisition by Salesforce. He was also CMO at Zendesk, guiding the company to a $1.7 billion IPO, and SVP of Marketing at Salesforce, where he drove revenue from $900 million to $3 billion.Bill began his career in B2C marketing, notably at IGN Entertainment and Fox Interactive Media. He holds a Bachelor’s in Business Administration from the University of Illinois Urbana-Champaign.News Rundown with John Ruffolo* (00:01:04) U.S. Federal Election Analysis* (00:04:00) Mainstream Media and Social Media's Rise* (00:06:35) Elon Musk’s Influence and Stock Market Reactions* (00:08:18) OpenAI’s Purchase of "Chat.com"* (00:09:38) Perplexity AI’s $500 Million Funding Round* (00:13:00) Venture Capital’s Private Equity Strategy in AI* (00:15:23) Salesforce in the AI LandscapeInterview with Bill Macaitis* (00:20:20) Bill Macaitis’ Journey from B2C to B2B* (00:21:52) Building Salesforce’s Brand in the Financial Crisis* (00:27:00) Importance of B2B Mascots* (00:32:57) Product-Led Growth (PLG) Strategy at Slack* (00:39:00) Tips for AI Startups on Freemium Strategies* (00:41:31) Account-Based Marketing (ABM) Insights* (00:45:58) AI’s Impact on Marketing and Career Advice for Marketers* (00:49:26) Launch of SaaS CMO ProFast Favorites* Favorite Podcast: Artificial Intelligence Show* Favorite Newsletter or Blog: Only CFO* Favorite Tech Gadget: Rachio* Favorite New Trend: Artificial Intelligence (AI) advancements* Favorite Book: Earn It by Steve Pratt* Favorite Life Lesson: Don't focus on if you're employed, focus on if you're employableFollow 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

Peter van der Velden joins Matt Cohen to discuss the dynamic changes within the life sciences sector and venture capital at large. He highlights the success factors in life sciences as a high-performing asset class and discusses the role of Canadian pension funds in supporting innovation. The episode also covers the transformative potential of GLP-1 drugs and AI's impact on drug discovery and medical technology.And John Ruffolo is back to talk about the US elections and tech news. (Note: this was recorded before the election on 11/5/24).About Peter van der Velden:Peter van der Velden is the Founder and Managing General Partner of Lumira Ventures, a top Canadian life sciences venture capital firm he established in 2007 following a management buyout of MDS Capital. At Lumira, he focuses on biotech and medtech investments, with multiple high-profile exits involving acquisitions by major pharmaceutical companies.Prior to Lumira, Peter served as President and CEO of MDS Capital, Canada’s oldest life sciences VC firm. He has also founded and led Fusion Capital, an investment bank for Canadian tech ventures, and worked as Managing Director at Bedford Capital, a private equity boutique.Peter began his career in venture capital in 1988 at Vencap Equities and later held roles in business development at Hyal Pharmaceuticals and Taurus Capital. He holds an MBA from the Schulich School of Business and an MSc in Pathology and a BSc in Life Sciences from Queen’s University.In this episode, we discuss:News with John Ruffolo(1:26) – Super Micro Computer Stock Decline(4:00) – Canadian Perspective on U.S. Elections(6:45) – Decline of Mainstream Media and Rise of Alternative Platforms(11:41) – VCs Backing Multiple Competing LLMs(17:20) – Potential AI Mergers and Acquisitions in 2025Interview with Peter van der Velden(19:48) – Peter’s Role at Lumira Ventures(21:03) – Transformation in Venture Capital and Life Sciences(24:05) – Life Sciences Outperformance as an Asset Class(27:48) – Canadian Pension Funds and Venture Capital(31:20) – Case Study: Histosonics and Pension Fund Support(35:25) – Quebec’s Leadership in Supporting Local Innovation(37:00) – Challenges in Advocating for Canadian Venture Capital(46:16) – GLP-1 Drugs and Their Transformative Potential(49:19) – Industries Disrupted by GLP-1 Innovations(52:00) – AI’s Role in Drug Discovery and MedtechFast Favorites * Favorite Podcast: Acquired and All In* Favorite Tech Gadget: NotebookLM.google* Favorite Trend: Rationality returning to the venture market* Favorite Life Lesson: "Never give 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

In this episode, David Skok, founder and CEO of The Logic, discusses his journey from traditional journalism to leading a digital-first news outlet. He reflects on his time at The Boston Globe, where he helped the publication transition to a digital subscription model. This experience laid the foundation for his decision to launch The Logic, focusing on Canada's innovation economy and providing high-quality, in-depth reporting.David explains how Clayton Christensen’s theory of disruptive innovation influenced his approach to digital media. He saw an opportunity to address gaps in Canadian tech and business coverage, and launched The Logic in 2018. He highlights the challenges of building a digital publication in a space dominated by legacy media and how his publication has carved out its niche by focusing on critical, analytical journalism.The discussion also covers the impact of Bill C-18 on the media landscape in Canada, with David offering insights into how it aims to level the playing field between big tech platforms and smaller news organizations. He also touches on the role of The Logic Summit, an annual event that brings together leaders in tech and business, as part of his broader mission to foster a stronger innovation ecosystem in Canada.And John Ruffolo of Maverix Private Equity joins Matt Cohen to discuss the latest tech and venture capital news.About David Skok:David Skok is the founder and CEO of The Logic, a business news publication focused on Canada’s innovation economy, with five bureaus across the country. Backed by the Financial Times, The Logic has become a prominent source of in-depth business journalism under his leadership.With over 25 years of experience, David previously held senior roles at The Toronto Star and The Boston Globe, where he led digital strategy and helped grow BostonGlobe.com’s digital subscriptions by 40%. He also co-created Globalnews.ca, one of Canada’s leading digital news platforms.David holds a Nieman Fellowship from Harvard University and a Bachelor’s degree in journalism from Ryerson University. He also serves on the board of the Online News Association and advisory boards for several journalism institutions.In this episode, we discuss:News Rundown with John Ruffolo:* (01:31) Elon Musk’s epic week * (02:00) Discussion on the rise of reusable rocket systems and the implications for space exploration* (03:26) Information Venture Partners (IVP), a Toronto-based venture capital firm, decides not to raise its fourth venture fund, citing market conditions and personal circumstances* (05:00) The trend of venture funds consolidating and shifting towards more niche or special purpose vehicle (SPV) investments is explored* (09:00) Geoffrey Hinton, known as the "AI godfather," wins the 2024 Nobel Prize in Physics for his contributions to AI* (12:00) Shopify President Harley Finkelstein's controversial comments about the lack of ambition in the Canadian tech sector, and the push for more risk-taking in AI development* (14:50) John Ruffolo responds, emphasizing the need for better access to capital and support for Canadian entrepreneurs, rather than a lack of ambition being the primary issue* (19:00) Matt and John discuss the large investments being made in U.S. data center developments and AI infrastructure, noting the contrast with Canada’s lack of similar projects* (23:00) A story about Anguilla’s earnings from the ".ai" domain surge, and how it now accounts for 20% of the island’s government revenueInterview with David Skok:* (24:53) David Skok discusses his early years in journalism and how his experiences shaped his career* (27:21) His experiences at The Boston Globe, leading its transition to a subscription-based model and the lessons learned from that time* (31:00) The evolution of digital content consumption and how consumers’ preferences for news have changed* (33:36) Clayton Christensen’s disruptive innovation theory on David’s decision to start The Logic, and his approach to navigating the shifting media landscape.* (41:55) The founding of The Logic, initial challenges, and the importance of building a subscription-based media outlet* (45:00) The competitive nature of the Canadian media landscape and the challenges of securing talent and resources for a startup media company* (49:13) David explains The Logic Summit, how it serves as a platform for bringing together Canada’s innovation and business leaders, and its growing significance* (51:58) The implications of Bill C-18 and how it affects relationships between media outlets and tech platforms like Google and Meta* [56:43] The rise of generative AI, the challenges of copyright for news organizations, and the impact on journalistic integrity* [59:00] David outlines The Logic’s approach to using AI and how they manage its integration with journalistic standards.Fast Favorites:* Favorite podcast: Pivot by Kara Swisher and Scott Galloway* Favorite newsletter or blog: Stratechery by Ben Thompson* Favorite tech ga

Matt Cohen sits down with Benedikt Langer, the thought leader behind the newsletter Embracing Emergence, to explore the world of emerging managers and their relationships with family offices and other Limited Partners (Limited Partners). Benedikt shares his journey of growing up in Germany to becoming an influential voice in the LP and Emerging Manager space, providing insights on why family offices and LPs should give more attention to emerging managers.About Benedikt Langer:Benedikt Langer is currently the Founder of Embracing Emergence, a platform dedicated to fostering collaboration and understanding between Limited Partners (LPs) and Emerging Managers (EMs). Through this initiative, he has created a space where both sides can exchange insights, build relationships, and engage in meaningful conversations to solve inefficiencies in the LP-GP process. In addition to running Embracing Emergence, Benedikt partners with select emerging managers, helping them craft their stories and strategies while guiding them in building strong connections with LPs.Before launching Embracing Emergence in 2024, Benedikt founded The Associates Network, an exclusive community for over 225 Venture Capital associates and analysts worldwide. Through this network, he facilitated deal flow, educational events, and personal introductions, significantly enhancing collaboration within the global VC ecosystem. Concurrently, he worked as an Associate at The Sutton Firm, a single-family office where he helped shape the firm’s strategies in venture capital, real estate, and small business acquisition.Earlier in his career, Benedikt gained a broad range of experiences, including a role as Senior Treasury Analyst at Vistra Corp. and advisory work with the Port Royal Society. His diverse background, combined with his passion for transparency and thought leadership in the family office space, has made him a sought-after partner in both the LP and EM communities.In this episode, we discuss:* (01:23) – Benedikt shares his background, growing up in Germany, and his journey into the venture world through a family office in Dallas* (05:18) – The story of how Benedikt met his wife during a 500-mile pilgrimage* (07:06) – The role of emerging managers in the venture ecosystem and common misconceptions held by LPs* (10:11) – How LPs can better underwrite emerging managers and the importance of storytelling in pitching to LPs* (12:31) – The concept of “LP-GP fit” and embracing complexity in relationships with emerging managers* (14:28) – The importance of understanding professional and personal dimensions in emerging managers* (20:00) – The value of direct communication and trust in LP-emerging manager relationships* (23:50) – The role of fund of funds in mitigating risk and providing access to top-performing GPs* (29:10) – How to effectively pitch to family offices and align with their values* (34:00) – Reverse due diligence: what emerging managers should learn about family offices before pitching* (36:00) – Differences between pitching founders and pitching family offices* (39:40) – Benedikt’s vision for Embracing Emergence and fostering better relationships between LPs and emerging managersFast Favorites* Favorite Podcast: Pints with Aquinas – If you could grab a beer with Thomas Aquinas, what would you talk about?* Favorite Newsletter or Blog: The Abbey of Misrule – A blog about mysticism and wonder.* Favorite Tech Gadget: AirPods – Essential for phone calls.* Favorite New Trend: Marketing shifting from attention-based to thoughtfulness-based approaches.* Favorite Book: Pensées by Blaise Pascal.* Favorite Life Lesson: "Always do the uncomfortable things first in life" – Advice from his father.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 live episode recorded at the Elevate Conference, host Matt Cohen interviews Dax Dasilva, founder of Lightspeed and the conservation initiative Age of Union. The discussion covers Dax's entrepreneurial journey from his early days growing up in Vancouver as the son of Ugandan refugees, through the founding and growth of Lightspeed, and his venture into conservation and environmental advocacy. Dax shares insights on transitioning from a bootstrapped company to VC-backed growth, going public, his time away from the company, and his recent return as CEO. He also emphasizes the importance of spirituality, conservation, and embracing change as a leader.About Dax DasilvaDax Dasilva is the Founder and CEO of Lightspeed Commerce. Founded in 2005, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experience and become a go-to destination in their space. It powers the world's best businesses in over 100 countries globally.Dasilva was reappointed as CEO on February 15, 2024. Prior to that, he served as Executive Chair of Lightspeed’s board of directors for two years, and previously led the company’s operations as Chief Executive Officer since its founding in 2005.Lightspeed employs thousands of staff, and powers hundreds of thousands of customer locations worldwide. During Dasilva’s leadership as CEO, the company went public in March 2019 on the Toronto Stock Exchange under the symbol LSPD, becoming one of Canada’s top 10 technology IPOs. In September 2020, the company listed on the New York Stock Exchange. Lightspeed also undertook 9 acquisitions over the course of a four year period to consolidate the global market and launch two, best-in-class flagship products: Lightspeed Retail and Lightspeed Restaurant.In this episode, we discuss:* (01:16) Dax explains his long-standing relationship with Elevate and the importance of in-person gatherings.* (02:03) Growing up in Vancouver, Dax was introduced to technology through his father’s job and his early exposure to a Mac startup.* (04:00) Dax talks about how his initial programming work with Mac dealerships led to the foundation of Lightspeed, serving complex retailers.* (05:09) Dax reflects on balancing growth and profitability during Lightspeed's first seven years without external funding.* (07:54) Dax stresses the need for a detailed business plan, which guided Lightspeed through its early years.* (09:00) Lightspeed’s shift to VC-backed growth began with a $30 million Series A led by Accel, as Dax discusses how they prepared for scaling and moving to cloud-based services.* (12:22) The challenges of leading a company through IPOs in Toronto and New York required Dax to adapt to public market pressures.* (15:01) Dax shares insights on handling the volatility of public markets, especially during the pandemic and interest rate shifts.* (17:00) Dax explains why he stepped back from Lightspeed in 2022, the projects he pursued during his time away, and the advice he received before returning.* (18:43) Dax reflects on how spiritual practices like meditation have helped him balance various roles and projects.* (20:32) Dax provides an overview of Age of Union, his conservation initiative, and his experiences with grassroots projects worldwide.* (23:16) Dax encourages startups to embrace a learning mindset, iterating through failures, and applying entrepreneurial thinking to different fields.Fast Favorites:* Favorite Podcast: 20VC* Favorite Newsletter: Nate Silver's Silver Bulletin* Favorite Tech Gadget: InBody fat and body composition analyzers* Favorite Trend: The rise of meditation* Favorite Book: Good to Great by Jim Collins* Favorite Life Lesson: "The journey is the reward" – Steve JobsFollow 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 of Maverix Private Equity talk about the current dynamics of the Canadian venture capital ecosystem, discussing recent controversies and major moves by key players.Topics include public criticism within the Canadian Venture Capital Association (CVCA), Brookfield’s ambitious plans for a $50 billion pension fund, and a strategic review by Lightspeed Commerce, hinting at privatization.The discussion also covers global developments in AI, such as California's vetoed AI safety bill and OpenAI's massive new fundraising round, and closes with reflections on the growing influence of self-driving technologies and regulatory challenges, with insights into the future of AI and automation.In this episode, we discuss:* (0:16) - CVCA Criticism* (3:23) - Role of Industry Associations* (5:00) - Brookfield’s $50B Maple Fund* (8:00) - Lightspeed Commerce Strategic Review* (11:35) - Waymo and Self-Driving Tech* (15:51) - California’s Vetoed AI Safety Bill* (19:00) - OpenAI’s $150B Valuation* (24:00) - Future of AI and Enterprise SoftwareFollow 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 week's episode of Tank Talks, host Matt Cohen welcomes Peter Goldie and Deborah Kattler Kupetz the two principals of Category Design Co.Category Design is a powerful business strategy that involves identifying a gap in the market and creating an entirely new category to fill it. Together, they share their journeys, personal experiences, and insights into how category design can transform companies and shape industries.Peter and Deborah talk about how they first met through TED conferences and discovered a shared passion for category design. Peter, with his extensive experience in software and B2B industries, and Deborah, a serial entrepreneur with a background in trends, music, and events, explain how category design can redefine business strategies, create new market opportunities, and help companies achieve dominance in their fields.We also have John Ruffolo from Maverix Private Equity back to discuss the latest news.Deborah Kattler KupetzDeborah Kattler Kupetz is a partner at Category Design Co., where she helps businesses define new market categories and execute strategies to dominate them. She also serves as an advisor at Physio AI, focusing on computational analytics for digital health, and at Aligne Capital Partners, where she works on creating sustainable ecosystems in the food and waste industries. Since 2006, Deborah has led dkkevents, a green event production company that produces eco-conscious experiences, and she continues to produce hybrid and virtual events.She has extensive experience in community-focused ventures, including her roles as Executive Producer of TEDxGreenStreet and Founder of Recenterpiece, a project that repurposes event centerpieces to reduce waste and feed those in need. Earlier in her career, she co-founded several initiatives focused on philanthropy and literacy, including Koreh L.A., Virtual Philanthropy, and the L.A. Literacy Corps.Deborah holds a BA in American Studies from Scripps College and earned both her MSW and MSG from the University of Southern California.Peter GoldiePeter Goldie is a partner at Category Design Co., where he works with companies to define and dominate their business categories. He is also an advisor to Physio AI and Aligne Capital Partners, helping both organizations scale their impact in digital health and sustainability. Prior to these roles, Peter was an advisor at Karerra and Gold Front, assisting startups in scaling and category development.Before focusing on category design, Peter co-founded sewnow! fashion studio and FashionKit, a retail and online business. He also held executive roles at companies like Leanplum, Exploratory Software, and Fluid, where he led product marketing and business strategy efforts. At Macromedia, Peter played a key role in the growth of Flash as the world's most installed software, and he began his career at Procter & Gamble in brand management.Peter holds a Bachelor of Commerce degree in Marketing from Queen’s University and completed his high school education at Upper Canada College.In this episode, we discuss:* News Rundown with John Ruffolo:(00:26) – Amazon's Return to Office MandateAmazon CEO Andy Jassy’s return-to-office announcement and its implications.(02:00) – Corporate Downsizing Through PolicySpeculation on whether the return-to-office policy is a strategy to reduce headcount without layoffs.(03:00) – Return-to-Office Trends Across IndustriesThe broader trend of companies shifting away from fully remote work.(05:00) – Space & Telecommunications: Elon Musk vs. TelesatDiscussion on Canada's investment in Telesat and the ethics of government handouts.(09:00) – Canadian Government Ventures and InnovationConcerns about government-backed corporations and their ability to foster innovation.(12:00) – Business Development Bank of Canada (BDC) Leadership ChangesLeadership changes at BDC and their impact on Canadian venture capital.(16:00) – Secondary Sales and Continuation Funds in VCHow VC firms are turning to secondary sales and continuation funds in response to a stagnant IPO market.(20:00) – Investor Strategies Amidst a Stagnant IPO MarketThe effects of innovative liquidity strategies on startups remaining private longer.Main Interview with Peter and Deborah:(21:00) – Introduction to Peter and DeborahOverview of Peter and Deborah’s backgrounds in category design.(21:35) – Deborah’s BackgroundDeborah’s entrepreneurial journey from fashion to tech and innovation.(23:00) – Peter’s Early CareerPeter’s early experiences in consumer goods and his transition into tech.(24:00) – Cultural Influence on DesignHow Peter’s travels influenced his perspective on design and marketing.(25:45) – Peter’s Early TED InvolvementPeter’s role in creating a social network for TED and demonstrating rich internet applications.(28:00) – What is Category Design?Deborah explains the basics of category design and how it redefines markets.(30:00) – Examples of Category KingsDiscussion of category-defining products like the iPhone

This week Matt Cohen welcomes Anthony Lacavera, an entrepreneur known for founding Globalive and Wind Mobile.Anthony shares his journey from starting his first business after graduating from the University of Toronto to challenging the Canadian telecom giants with Wind Mobile. He discusses the lessons learned from his successes and failures, his passion for innovation, and his latest ventures in the Caribbean telecom industry and the matchmaking space with Pair Us. Throughout the conversation, Anthony highlights the importance of resilience, transparency, and fostering meaningful relationships in both business and life.About Anthony LacaveraAnthony Lacavera is the Founder and Chairman of Globalive, a venture capital firm and operating company based in Toronto, Canada. Since establishing Globalive in 1998, Anthony has been involved in creating and leading several companies across industries like telecommunications, technology, and media. Among his notable ventures is WIND Mobile, a Canadian telecom company that was sold for $1.6 billion in 2015. Recently, Anthony co-founded Pairus, a platform combining traditional matchmaking with AI, and serves as Chairman of Paradise Mobile, a telecom initiative in Bermuda.In addition to his entrepreneurial activities, Anthony has been active in media and technology. He founded Globalive Media in 2018, where he hosts "Beyond Innovation," a program that covers developments in technology and innovation. He also contributed to Bloomberg Television, focusing on technology, telecommunications, and entrepreneurship. Through Globalive Capital, Anthony has invested in over 200 early-stage companies and is involved in various mentorship programs supporting new entrepreneurs.Anthony's career began after he earned a degree in Computer Engineering from the University of Toronto.In this episode, we discuss:(01:55) The founding of Globalive and its first big success with Wind Mobile(04:11) Why transparency was the key to Wind Mobile's success(06:10) The story behind trying to buy back Wind Mobile in 2022(08:04) The challenges of foreign ownership restrictions in the Canadian telecom industry(09:27) Re-entering the telecom business with Paradise Mobile in the Caribbean(11:25) His biggest financial loss and what he learned from it(12:50) The importance of self-awareness and learning from failure(14:54) What Globalive looks for in startups: Founder resilience and self-awareness(17:38) The importance of investing in your health and longevity as a founder(20:00) Transforming the matchmaking industry with AI and human connections with Pair Us(21:45) Why human connections are crucial for longevity and happiness(26:45) How Anthony incorporates learning from every interaction into his daily life(28:19) Why patience and long-term thinking are critical for entrepreneurial success(31:16) The role of AI in transforming business(36:45) Balancing giving advice with letting founders learn on their own(38:04) Why taking care of your health is essential for sustained successFast Favorites:📲 Favorite Tech Gadget: Samsung Z Fold6📚 Favorite Book: The Science and Technology of Growing Young by Sergei Young 🤔 Favorite Life Lesson: Every single interaction you have with someone, think about what you can learn from that person, and journal it. 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 welcomes back John Ruffolo of Maverix Private Equity, focusing on a variety of topics, including predictions for the next Canadian election, reflections on the 2023 conference season, and the impact of long-term value creation in Canadian business. They also discuss PitchBook's 2024 university rankings and their implications for Canadian education and entrepreneurship. Additionally, they explore trends in private equity and leveraged buyouts, the impact of interest rates on these markets, and the future of long-term capital in Canada.In this episode, we discuss:* (00:21) The busy conference season including Maverix’s off-the-record Leadership Summit* (02:00) Reflections on Mark Leonard’s strategic growth and long-term value creation.* (04:47) Discussion on Andre De Grasse and his transition into investing.* (06:00) Analysis of PitchBook’s 2024 university rankings and Canada’s showing.* (11:15) The shift from leveraged buyouts to minority buyouts in private equity.* (16:57) OMERS Ventures and the consolidation of its private capital group.* (20:04) The recent U.S. election debate and its entertainment value.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, Matt Cohen sits down with Arati Sharma and Satish Kanwar, the powerhouse duo behind Good Future, a family office with a mission to support and grow the Canadian tech ecosystem. They discuss their journey from starting the digital design agency Jet Cooper to playing pivotal roles at Shopify, and now investing in the next generation of entrepreneurs. The conversation delves into their insights on building community, the importance of innovation, and their commitment to making a lasting impact on the Canadian tech scene.About Arati SharmaArati Sharma is a prominent entrepreneur, angel investor, and technology leader based in Toronto, Canada. She is the Co-Founder and President of Good Future, a family office focused on building and investing in companies that positively impact the world. Arati is also the Founding Partner of Backbone Angels, a collective of female investors dedicated to supporting women and non-binary founders, particularly those from underrepresented communities. Alongside her investing activities, Arati co-founded Ghlee, a skincare brand rooted in South Asian tradition, which has gained significant traction since its launch in 2019.Prior to her entrepreneurial ventures, Arati spent nearly a decade at Shopify, where she played a pivotal role in shaping the company’s marketing strategy. She was the Director of Product Marketing, responsible for establishing and scaling the product marketing function as Shopify expanded its global reach. Arati also led the creation of Shopify’s annual Unite conference, transforming it into a major event for the company’s partners and developers. Her earlier roles at Shopify included leading offline, experiential, and community marketing, where she spearheaded initiatives like Shopify’s first merchant roadshow and high-profile events such as Kylie Jenner’s first pop-up shop.Before joining Shopify, Arati worked at Jet Cooper, a Toronto-based digital design agency, where she held various roles, including Communications & Strategy and Operations Manager. Her work at Jet Cooper involved developing the company’s communication strategies, managing operations, and contributing to the firm’s internal culture. Arati’s early career also included leadership positions in student organizations, such as the Canadian Alliance of Student Associations and the Ontario Undergraduate Student Alliance, where she honed her skills in advocacy and leadership.About Satish KanwarSatish Kanwar is a seasoned technology entrepreneur and business leader from Toronto, Canada. He is the Co-Founder of Good Future, a family office that invests in and operates businesses with a focus on positive-sum impact. In addition to his role at Good Future, Satish serves as the Board Chair of BetaKit, Canada’s leading tech news publication, and holds board positions at Toronto Global and Delphia. His leadership and influence in the tech community have earned him recognition, including being named to Forbes' 30 Under 30 and Toronto Life's Most Influential lists.Satish spent a decade at Shopify, where he held various senior roles, most recently as Vice President of Corporate Development and Head of Product Acceleration. In this capacity, he oversaw over 30 strategic acquisitions, investments, and alliances, significantly contributing to Shopify’s growth beyond online stores into multi-channel commerce. His earlier roles at Shopify included leading the company’s product strategy for online stores, retail point of sale, and multi-channel platforms, establishing Shopify as a leader in global commerce technology.Before his tenure at Shopify, Satish co-founded Jet Cooper, a digital design studio based in Toronto that was acquired by Shopify in 2013. At Jet Cooper, Satish was instrumental in building the agency into a well-regarded design firm, which ultimately became Shopify’s foundation in Toronto. Earlier in his career, Satish worked as a Marketing Manager at Microsoft Canada, where he developed his passion for technology and entrepreneurship. Satish is a graduate of the University of Toronto, where he earned his Bachelor of Business Administration.In this episode, we discuss:(00:34) Starting at Jet Cooper, the early days of Canadian tech(02:13) Meeting Satish and the mystique of Jet Cooper(03:03) The importance of community and design(04:51) How Jet Cooper cornered the market on design talent(07:03) The unexpected Shopify acquisition offer(09:42) Transitioning to Shopify and leading community initiatives(13:55) Building Shopify's multi-channel platform strategy(16:20) Leaving Shopify to pursue new creative ventures(18:47) The founding of Backbone Angels and supporting diverse founders(23:19) The mission of Good Future and supporting Canadian innovation(27:08) The vision behind Good Future and its unique approach(32:39) Balancing investments with building new ventures like Ghlee(33:13) Acquiring BetaKit to strengthen Canadian tech storytelling and why supporting media is crucial for the Canadian

This week Tom McCullough, Chairman and CEO of Northwood Family Office stops by to talk all things Family Office.Tom is often referred to as the "godfather" of family offices in Canada. He shares his journey from a successful career at Dominion Securities to founding Northwood Family Office, where he has spent over two decades helping families manage their wealth and complex financial needs. The discussion covers the evolution of the family office industry, the importance of building trust with clients, and Tom's insights into intergenerational wealth transfer and the growing complexity of wealth management in today's world.We also are joined by friend-of-the-pod John Ruffolo of Maverix Private Equity to discuss the week’s news (including Ripple’s recent Fund III announcement)About Tom McCulloughTom McCullough is the Co-Founder, Chairman, and CEO of Northwood Family Office, a Toronto-based multi-family office that serves the comprehensive needs of families with significant wealth. Tom has been a pioneering force in establishing one of Canada’s leading independent family offices. Northwood Family Office has been consistently recognized as the top independent family office in Canada by Euromoney in its global private banking survey. Tom is also the co-author of three influential books on wealth management: Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask, Wealth of Wisdom: Top Practices for Wealthy Families and Their Advisors, and Family Wealth Management: 7 Imperatives for Successful Investing.Before founding Northwood Family Office in 2002, Tom spent two decades at RBC Dominion Securities, where he held senior executive roles. His experience at RBC, combined with his personal insights into the needs of wealthy families, led him to establish a boutique-style, client-focused family office that provides objective and customized services. Tom’s commitment to education and thought leadership in wealth management is evident through his role as an Adjunct Professor of Finance at the University of Toronto’s Rotman School of Management, where he teaches an MBA course on the management of private wealth. He is also actively involved with the Ultra High Net Worth Institute, serving on its board and faculty.Tom’s contributions to the field have been widely recognized, including being awarded ‘Best Individual Contribution to Thought Leadership in the Wealth Management Industry (North America)’ at the 2020 Family Wealth Report Awards. He holds an MBA from York University’s Schulich School of Business and certifications such as the Chartered Investment Manager (CIM) and Certified International Wealth Manager (CIWM). In addition to his professional endeavors, Tom is actively involved in philanthropic activities, particularly focusing on poverty alleviation in the developing world.In this episode, we discuss:(00:57) Announcement of the third fund from Ripple Ventures and promotion within the team(02:50) The saga of Bolt and its founder Ryan Breslow(07:00) Stripe's new buyback tender offer and its implications(09:07) Canadian government consultations on the 2024 federal budget(13:00) The U.S. Federal Reserve's upcoming rate decisions and economic impact(17:30) 20VC podcast insights with Aiden Gomez from Cohere—(22:34) The interview with Tom McCullough(23:00) Starting out at Dominion Securities and the early days of his career(24:00) The epiphanies that led him to leave Dominion Securities and start a family office(25:20) The early challenges of the family office business(26:08) What is a family office and how it serves high-net-worth families(28:09) The story behind landing his first client(30:01) The changing landscape of family offices in Canada.(32:31) What sets Northwood Family Office apart from bank-run family offices.(36:00) The most common questions wealthy families ask and how Northwood addresses them(41:19) Balancing professional advice with personal relationships in family office management(43:56) The seven imperatives for successful investing in the new world order(46:50) Teaching and thought leadership in wealth management and family office services(48:45) Practical tools and exercises from Tom’s new book, Wealth of Wisdom(52:10) How families can maintain transparency and communication across generations(55:15) The evolving role of family offices in managing global wealth and complexity.(58:00) The impact of technology on wealth management and family offices.(1:04:38) The most rewarding aspects of Tom’s career in wealth management.(1:08:02) Advice for those looking to start their own family office or wealth management firm.Fast Favorites:🎙 Favorite Podcast: The History of English📰 Favorite Newsletter or Blog: Northwood Perspective📲 Favorite Tech Gadget: iPad📈 Favorite New Trend: The rise of the integrated advisor as a recognized profession📚 Favorite Book: Made to Stick by Chip Heath and Dan Heath🤔 Favorite Life Lesson: Show grace. Everyone you meet is dealing with challenges you can't see.Follow M

Matt Cohen and John Ruffolo of Maverix Private Equity talk about a wide array of current topics in venture capital, with a particular focus on the state of AI funding with Radical Ventures raising an $800M AI-focused fund, the challenges facing late-stage startups, and the impact of government policies on entrepreneurship and innovation.In this episode, we discuss:(00:23) Radical Ventures raises $800M for growth-stage AI startups(01:19) Discussing risks and rewards in AI growth-stage investing(05:09) Insights from Carta and CVCA reports on late-stage funding challenges(13:18) Canadian Entrepreneurs Incentive (CEI) changes and their impact(18:06) NVIDIA chip smuggling to China despite U.S. export restrictions(21:06) Google’s antitrust case and its potential impact on the tech industryFollow 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 this week's episode, we welcome Mario Nigro, a partner at Stikeman Elliott, to discuss navigating the world of search funds and recent trends in mid-cap M&A.Mario shares his journey to becoming an M&A expert and offers insights into the evolving landscape of mergers and acquisitions, particularly in the Canadian market.He explains the rising popularity of the entrepreneurship-through-acquisition model and highlights the essential traits for aspiring search fund founders.We also explore current trends in mid-market M&A, the impact of rising interest rates, and the significant changes since the 2021-2022 market correction.Mario provides practical tips for sellers preparing for M&A and emphasizes the importance of strategic planning and cultural due diligence for buyers.Finally, Mario shares his outlook on the future of mid-market M&A, the role of technology, and the opportunities available for young entrepreneurs.About Mario Nigro:Mario Nigro is a partner at Stikeman Elliott LLP, where he works in the Mergers & Acquisitions and Private Equity & Venture Capital Groups. His practice includes mergers and acquisitions, private equity, venture capital, and corporate reorganizations. Mario has worked with clients in various industries, including technology, food, retail, and manufacturing. He also hosts the "Views from the Market: Midmarket M&A and Private Equity" podcast.Before Stikeman Elliott, Mario was a partner at Blake, Cassels & Graydon LLP, focusing on corporate and commercial law, mergers and acquisitions, and energy transactions. He also has experience with Ontario Power Generation and served as a policy adviser in the Office of the Ontario Minister of Education.Mario earned law degrees from McGill University, a Master’s and a Bachelor’s of Education from Western University, and a Bachelor of Arts from the University of Toronto.* (01:13) Mario discusses his journey from kindergarten teacher to M&A expert.* (03:00) Overview of the rise of search funds and differences between traditional and self-funded models.* (04:56) Explanation of the economic structures in search funds.* (07:00) Discussion on how search funds have evolved in Canada.* (12:04) Why investors prefer funded search models and their benefits.* (14:55) Key traits of successful search fund founders.* (19:22) Current trends in mid-market M&A and the role of search funds.* (24:25) Increasing role of technology in M&A and its impact on traditional industries.* (28:40) Impact of rising interest rates on mid-market M&A deals.* (31:20) Common pitfalls for sellers and the importance of preparation.* (35:45) Advice for new CEOs post-acquisition on building strong relationships.* (43:00) Mario’s outlook on the future of mid-market M&A in Canada.* (49:00) Tips for managing complex and high-pressure deal negotiations.Mario’s Fast Favorites:🎙 Favorite Podcast: "Views from the Market"📰 Favorite Newsletter or Blog: "New York Times"📲 Favorite Tech Gadget: AirPods Pro📈 Favorite New Trend: TikTok’s cultural impact📚 Favorite Book: The English Patient by Michael Ondaatje🤔 Favorite Life Lesson: All-in mentalityFollow 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 week's episode, Matt talks to Melissa Cash, Co-Founder and CEO of Pok Pok. She shares her story of creating an award-winning kids' app. Melissa explains how her time at Disney and working with Snowman helped shape Pok Pok, and the challenges they faced in starting the company.Melissa talks about where the idea for Pok Pok came from and the key principles behind its design. She focuses on making the app fun and educational while keeping it safe and low-stimulation for kids. She also discusses the impact of winning big awards like the Apple Design Award and the App Store Award, which helped the company grow and attract investors, especially women.Melissa also shares her thoughts on the future of educational technology for kids, how they measure success at Pok Pok, and her hopes for the app's legacy.About Melissa Cash:Melissa Cash is the co-founder and CEO of Pok Pok, an award-winning company focused on fostering creativity and learning in children through digital play. Since its launch in May 2021, Pok Pok has received the Apple Design Award in 2021 and the App Store Award in 2023. The company's main app, Pok Pok Playroom, is known for its innovative, non-addictive approach to screen time.Before starting Pok Pok, Melissa was the Director of Operations at Snowman from February 2019 to May 2021, where she contributed to the success of the Alto series games. Her prior roles include Marketing Manager at Thriver and Product Designer for baby and toddler products at The Walt Disney Company. Melissa holds an Honours Bachelor of Arts in Communication Studies from York University and participated in an exchange program at the University of Helsinki for a Master's in Communication.In this episode, we discuss:(01:26) Melissa's journey from marketing and PR to entrepreneurship.(02:49) Melissa explains the serendipitous creation of Pok Pok.(04:07) Inspiration for educational and engaging digital experiences.(06:51) Design principles focusing on non-addictive play(08:59) Initial incubation within Snowman and learning the app business(10:14) Insights into consumer behavior and market differentiation(16:00) Collaboration with therapists and educators for app development(20:00) Winning the Apple Design Award and its impact on visibility and culture(22:00) Fundraising challenges in securing diverse investment.(31:00) Melissa's approach to balancing professional and personal life(33:52) Future of Education and Technology(41:15) Hopes for Pok Pok's lasting impact and high-quality experience(43:23) Origin of Pok Pok's NameMelissa's Fast Favorites🎙 Favorite Podcast: "We Can Do Hard Things"📰 Favorite Newsletter or Blog: "Why We Buy"📲 Favorite Tech Gadget: iPhone📈 Favorite New Trend: Democratization of AI📚 Favorite Book: "The Measure" by Nikki Erlick🤔 Favorite Life Lesson: The importance of joy and beautiful nostalgia in childhood experiencesFollow 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 have friend-of-the pod Jamie Rhode, now a partner at ScreenDoor, back to discuss all things emerging managers and LP investing. Jamie shares her reasons for joining ScreenDoor, and the evolution of the venture landscape since leaving the family office world. The conversation covers the changing perspectives of LPs regarding emerging managers and the unique challenges they face compared to public markets.About Jamie Rhode:Jamie Rhode, CFA, is a Partner at ScreenDoor, an investment platform that supports new and developing managers in raising early-stage institutional venture funds.Prior to Screendoor, Jamie spent over eight years at Verdis Investment Management, a single-family office, where she progressed from Investment Analyst to Principal. Jamie's work at Verdis gave her a deep understanding of the nuances of private market investments and the importance of aligning with the right LPs. Jamie's career began at Bloomberg, where she worked for four years in equity research and credit analysis.Jamie holds a Bachelor of Science in Finance and Marketing from Drexel University and is a licensed Chartered Financial Analyst (CFA). In this episode, we discuss:(01:20) Jamie’s transition from managing multi-asset class portfolios in a family office to focusing on early-stage venture and emerging managers(02:00) The unique return profiles offered by early-stage venture and emerging managers(03:09) The challenges and psychological impact of the long feedback loops in venture capital(03:50) Jamie’s reasons for joining ScreenDoor and the opportunity to create standardization in the emerging manager space(06:18) The evolution of ScreenDoor and its purpose in the market today(07:59) Expanding ScreenDoor’s mandate to invest in funds beyond the first institutional round(10:25) Key questions LPs should ask when considering emerging managers(13:00) Importance of having an investment and decision framework that guides through all market cycles(15:15) Setting a fund target and minimum viable fund size criteria(19:13) Discussing minimum check sizes and their strategic value(21:03) Sourcing capital from family offices and the challenges they face(25:17) ScreenDoor’s approach to sourcing emerging venture funds(27:59) The role of spin-outs in the venture capital industry(29:37) Addressing the fragmentation in the seed stage investment landscape(32:29) The impact of reduced capital needs for early-stage startups(35:25) ScreenDoor’s support for portfolio GPs in various economic conditions(40:00) The role of LPs in supporting emerging managers and ensuring alignment with their objectives(41:28) The importance of understanding LP motivations and ensuring fit for long-term relationships(44:03) Tailoring pitch decks for different types of LPs(47:00) Jamie’s advice for emerging managers: staying humble, thoughtful, and transparentFast Favorites🎙 Favorite Podcast: Personal side: Tiesto's weekly podcast; Business side: 10x Capital Podcast📰 Favorite Newsletter/Blog: Embracing Emergence by Benedikt Langer📲 Favorite Tech Gadget: Walking pad for under the desk📈 Favorite New Trend: Using audiobooks to stay productive while on walks📚 Favorite Book: Unreasonable Hospitality🤔 Favorite Life Lesson: You make plans and God laughsFollow 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 200th episode of Tank Talks, host Matt Cohen reflects on the podcast's journey and the lessons learned.The episode features a discussion with John Ruffolo of Maverix Private Equity, about major events in the tech and investment world, including recent funding rounds, the impact of AI, a significant cybersecurity outage, and political developments.In this episode, we discuss:(01:04) Tips for aspiring podcasters: embrace mistakes, maintain consistency, and stay curious(01:49) Introduction to guest John Ruffolo(02:00) Discussion about Clio’s $3 billion valuation Series F round(03:00) The significance of Clio’s funding and its market implications(04:00) Insights into the role of Gen AI in Clio’s business model(05:21) Analysis of Clio’s vertical market expansion(06:00) Breakdown of the primary and secondary capital in Clio’s funding(07:48) Comparison of Clio’s funding with Cohere’s Series D round(09:17) Thoughts on asset managers investing in AI startups(11:55) Impact of the CrowdStrike outage on global cybersecurity(13:05) The importance of robust contingency plans for startups(15:22) Speculations on the political ramifications of Joe Biden’s recent actions(18:00) Potential impacts on Canada’s political landscape and its relationship with the US(22:15) Jamie Dimon’s potential role in the US governmentFollow 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, Matt Cohen and John Ruffalo delve into the current political landscape in the U.S., the ongoing housing affordability crisis in Canada, and the burgeoning investments in generative AI.The discussion touches on the recent U.S. presidential election debate, the potential impact of a Trump administration on Canada, and the controversial proposal to tax home equity in Canada. The episode also examines Andreessen Horowitz's strategic investment in GPU capabilities and the implications of the Google acquisition of Hubspot shutdown. They conclude by discussing the challenges in the Canadian healthcare system and the potential for technology to improve access to family doctors.In this episode, we discuss:(00:26) Matt and John's reactions to the Trump vs. Biden debate and its implications.(02:35) Biden's Legacy and Future Prospects(04:01) How a Trump presidency could affect U.S.-Canada relations.(04:57) Housing Affordability Crisis in Canada(06:40) Generative AI Investment Bubble(11:55) Andreessen Horowitz's GPU Investment and its strategic implications(14:45) Analysis of why Google halted its acquisition of Hubspot talks and the broader impact on M&A activities(17:06) Explanation of the US Supreme Court's decision to overturn the Chevron Doctrine and its implications for regulatory agencies(19:22) Canadian Healthcare Access and the difficulty of finding family doctors in Canada and potential technological solutionsFollow 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 this week's episode, we welcome Mike McLean, CEO of Innovation Asset Collective, to talk about the importance of intellectual property (IP) for startups and Canadian companies. Mike explains how founders can prepare for IP challenges when entering global markets and how to use IP to create value.Mike talks about how the government helps Canadian tech companies protect and use their IP, and he points out that Canada is not doing as well as it should in creating and using IP, with many Canadian patents owned by foreign companies. He shares advice on building a defensive patent portfolio and using government support for IP education and protection.We also discuss the early stages of the IP process, how to create value with an IP strategy, and the importance of having experts help with IP planning. Mike explains how IP insurance works and why it’s important for companies facing legal challenges. He also talks about the importance of having clear IP terms in employee contracts and how AI is changing IP laws. Finally, Mike shares his journey in the IP field and stresses the importance of owning up to mistakes.About Mike McLean:Mike McLean is the CEO at Innovation Asset Collective, helping Canadian clean tech companies leverage intangible assets for growth and building capacity in the Canadian IP ecosystem. Previously, he served as the VP of IP Operations & Transactions and spent over a decade at TechInsights, where he connected business strategies with engineering teams and led efforts to help clients identify valuable patents.Mike's career began at Semiconductor Insights, where he provided technical intelligence to the IP and licensing community and led teams across the IP lifecycle in the electronics industry. His roles involved strategic planning, partnership agreements, and engaging with the VC and private equity communities.He has a B.Sc.E. in Electrical Engineering from Queen's University.In this episode, we discuss:(01:00) Mike McLean's background and journey in the tech and IP sectors(03:17) Using IP to drive revenue and defend market share in technology businesses(05:08) Changing how entrepreneurs think about and use IP within their businesses(07:04) Early-stage IP strategies and the importance of contracts and staff arrangements(09:59) Balancing disclosure with protection when seeking investment or customers(11:00) Key components of Innovation Asset Collective's educational programs(14:08) Challenges Canadian companies face with IP in global markets(18:21) Building a defensive patent portfolio and the role of IP insurance(22:00) Government programs supporting IP strategies for Canadian companies(28:22) Timing and strategy for building an IP portfolio in various industries(33:45) Employee contracts and IP ownership in innovation-focused startups(36:06) Importance of IP insurance and its role in scaling operations and fundraising(40:00) Case study of maximizing value through IP strategy in a company exit(41:10) Discussion on AI, IP, and the evolving legal frameworkFast Favorites🎙 Favorite Podcast: Mike does not have a favorite podcast as he prefers reading :)📰 Favorite Newsletter/Blog: James Clear's "3-2-1" newsletter📲 Favorite Tech Gadget: His smartphone (Android)📈 Favorite New Trend: Coaching youth baseball and learning hitting techniques📚 Favorite Book: "Turn the Ship Around!" by David Marquet🤔 Favorite Life Lesson: Take ownership of your mistakes and work collaboratively to find solutionsFollow 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

This week, John Ruffolo of Maverix Private Equity is back with Matt to talk about the latest news in the tech and capital ecosystem.They discuss the surprising results of the Toronto by-election, the commercialization of AI in Canada, and strategic investment moves by pension funds. Additionally, they delve into AI's impact on Hollywood, Apple's strategic partnerships, and the European Union's fines on big tech.In this episode, we discuss:(00:23) Toronto By-Election Results(05:05) Commercialization of AI in Canada(08:09) Investment Strategies of Pension Funds(11:00) AI in Hollywood and Media(16:00) Apple’s Strategic Partnerships(17:28) European Union's Fines on Big Tech(18:48) OpenAI’s Governance Structure ChangeFollow 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

This week, John Ruffolo of Maverix Private Equity is back with Matt to talk about the latest news in the tech and capital ecosystem.They discuss the end of the Collision Conference in Toronto, TD Bank's new initiative for tech entrepreneurs, and big moves in AI.They also cover Jerome Nycz's retirement from BDC Capital and Raquel Urtasun's new funding round for her company, Waabi.In this episode, we discuss:(00:00) Impact of Collision Conference on Toronto Ecosystem(01:33) Opportunities for Vancouver Ecosystem(05:52) TD Innovation Partners launch(08:28) Jerome Nycz' retirement from BDC Capital(10:34) Apple Intelligence Product Announcement(11:24) Partnership between Apple and OpenAI(14:54) Ilya Sutskever’s new company, Safe AI(17:35) OpenAI’s governance structure change(18:48) Raquel Urtasun's Waabi Series B fundingFollow 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

This week John Ruffolo of Maverix Private Equity is back with Matt to talk about the news affecting the venture capital and financial sectors including Cohere's recent $450 million fundraising, featuring investments from Nvidia, Salesforce Ventures, and others. The conversation shifts to the resurgence of crypto interest, Vista Equity's write-off of Pluralsight, private equity firms targeting individual assets within companies rather than entire companies, and how that could present opportunities for venture capitalists to recover some value from underperforming investments.They also cover Canada's capital gains plan's slow progress and impact on investment stability, as well as the proposal of a new “anti-woke” Texas stock exchange, which aims to offer a more business-friendly environment free from some of the regulatory burdens seen in current exchanges.Finally, they discuss recent interest rate changes by the Bank of Canada and the European Central Bank, and their implications for the Canadian economy and inflation.In this episode, we discuss:* (00:49) Cohere's $450 million fundraising.* (02:49) Discussion on AI space valuations.* (04:28) Crypto resurgence and political implications.* (07:46) Vista Equity's write-off of Pluralsight.* (10:55) Private equity targeting individual assets.* (12:48) Canada's capital gains plan delay.* (14:24) Proposal of Texas stock exchange.* (17:05) Interest rate changes by Bank of Canada and ECB.* (19:54) Impact of interest rates on the economy.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

This week, we welcome Rob Kumer, CEO of KingSett Capital, to share his journey from Analyst to CEO, the evolution of KingSett Capital, and the strategic moves that have shaped the firm into a $17 billion private equity real estate powerhouse.Rob provides insights into the impact of global experiences on his career, the challenges and opportunities of zero-carbon buildings, and the future of office spaces amid market bifurcation and work-from-home trends.About Rob Kumer: Rob Kumer is the Chief Executive Officer of KingSett Capital.As the chair of KingSett’s Investment Committee, Rob oversees new investment activities, shapes the project finance strategy, and steers the mortgage lending business. His leadership extends to chairing the Management Committee, where he ensures the ongoing implementation and oversight of the firm’s business strategy.Rob's academic background includes a degree in Honours Business Administration from the Ivey Business School at Western University, where he also serves on the Advisory Board. Beyond his professional achievements, Rob is dedicated to community service as a director of the Sinai Health System Foundation in Toronto.In this episode, we discuss:(01:19) Rob shares his career path from growing up in Toronto to becoming KingSett Capital's CEO(03:12) His early career in real estate development and his tenure at RioCan(04:45) His decision to join KingSett Capital and John Love's influence on his career trajectory(11:50) KingSett Capital's growth and diverse investment strategies emphasizing successful capital raising(17:55) The creation of the urban infill fund and its strategy of acquiring key street corners in Toronto(23:44) KingSett's strategic decisions during the early months of the pandemic(29:47) Insights into the current state of commercial real estate and the impact of rising interest rates(30:34) Market bifurcation and the future of office spaces, with a focus on Toronto(33:12) The performance of AAA office buildings versus lower-tier properties(37:36) The continued evolution of office space design to meet changing needs(43:26) The challenges and value creation opportunities in achieving zero-carbon buildings(48:56) Rob’s views on the proposed capital gains decisions in Canada and their potential investment impact(54:09) The importance of building relationships for success in both personal and professional lifeFast Favorites🎙 Favorite Podcast: Making Sense Podcast with Sam Harris📰 Favorite Newsletter / Blog: DealBook by Andrew Ross Sorkin📲 Favorite Tech Gadget: AutoDrive in his car, his bicycle📈 Favorite New Trend: Neckties and working from the office🤔 Favorite Life Lesson: Make relationshipsFollow 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

This week's guest is Nolan Bederman of Bederman Capital discusses the evolving landscape of private equity, emphasizing the importance of strategic growth, innovation, and building strong management partnerships. He highlights the need to balance technology and business operations, address regulatory challenges, and prioritize psychological insight in investment decisions. Bederman also critiques the Canadian regulatory environment, calling for a more supportive approach to entrepreneurship to drive productivity and economic growth.About Nolan Bederman:Nolan Bederman is the Executive Chair of the Lifespeak and is also the founder and managing partner of Bederman Capital Corp., a private equity business focused on investing in North American growth companies.In 2017, he formalized a partnership with New York-based Reynolds Channel Capital Partners, a private equity fund focused on making similar investments.Before founding Bederman Capital Corp., Nolan was a co-founding partner of Genuity Capital Partners, a mid-market private equity fund, where he spent almost ten years leading numerous successful private equity investments. Prior to joining Genuity, Mr. Bederman was an Executive Director in private equity at CIBC Capital Partners. Mr. Bederman was also a Vice President in the US Mergers & Acquisitions group of Merrill Lynch & Co., where he focused on advising global companies in the capital/consumer goods, transportation, food, and pharma sectors.He graduated with a combined JD/MBA program from the University of Toronto and a BA (Econ.) from the University of Western Ontario.In this episode, we discuss:(01:00) Career Transition and Private Equity Beginnings(02:25) Building and Growing Businesses(04:00) Notable Investments and Lessons Learned(08:13) Challenges and Learning from Failures(11:00) The Role of Trust in Private Equity(15:22) Engagement in Companies and Private Equity Dynamics(20:14) Psychology in Private Equity(25:17) Private Equity Landscape Changes(29:00) Advice for Aspiring Private Equity Professionals(34:35) Technological Innovation and Business Strategy(41:11) Mental Health in the Workplace(45:52) Impact of Canadian Economic PoliciesFast Favorites🎙 Favorite Podcast: Bill Maher's Club Random, Scott Galloway's Pivot (with Kara Swisher), Dan Carlin’s Hardcore History📰 Favorite Newsletter / Blog: Fast Company, Inc.📲 Favorite Tech Gadget: Miele coffee maker📈 Favorite New Trend: Walking while on conference calls📚 Favorite Book: The Birth of Loud by Ian S. Port (story of Leo Fender and Les Paul)🤔 Favorite Life Lesson: Treat everyone with respect, regardless of their position.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

On this week’s episode, we welcome back Dan Park, CEO of Clutch, for his second appearance. Dan shares how his team navigated the recent downturn in the startup world and the valuable lessons they learned from the experience.Since his last visit in October 2021, Dan and his team faced significant economic turbulence in the tech and automotive ecosystems. After securing a $100 million Series B and $150 million in debt financing, Clutch had to make tough decisions, including a 30% reduction in workforce. Dan walks us through these pivotal moments, discussing the strategies Clutch employed to adapt its business model and maintain trust with customers and employees.Additionally, Dan offers insights on managing investor expectations during turbulent times and how Clutch is positioned today, achieving record growth despite the challenges.We also have John Ruffolo back to discuss the news!Now, let’s jump into the Tank with Dan Park from Clutch.A word from our sponsor:The team at Ripple is always focused on helping our founders and portfolio companies find the best partners to work with within the tech and venture capital ecosystem. And that is why we are so excited to announce our partnership with the incredible team at Torys LLP. When it comes to legal support and advice, the team at Torys is the best in class. Torys is a storied Canadian law firm with offices in Toronto, Montreal, Calgary, Halifax and New York City. Torys has been around since its founding in 1941.They have always worked closely with players across the emerging startup ecosystem in all aspects of the creation, acquisition and commercialization of businesses. They help founders determine when and how much to fundraise, how to achieve the right economic structure, how to think about board and control issues and how to successfully navigate different stages of growth. They are also advisors to VC funds, strategic investors, private equity funds and other institutional investors on fund formation and shareholder arrangements to buyouts and other exits.In fact, Torys recently acted as counsel to Maverix PE on the transformative $260M Miovision Technologies growth funding with an advisory team that included Dany Assaf, Konata Lake and Max Schwartz-Labell on that investment.So whether you are negotiating a new business arrangement or developing a new service offering, Torys helps clients seize new opportunities and build creative, market-leading business models in this fast-paced world we live in every day space.Visit torys.com to learn more.About Dan Park:Dan is CEO of Clutch, an online platform for car buying and ownership. Prior to Clutch, Dan was GM & Head of Uber Eats Canada. During his time at Uber, Dan led the growth of Uber's food delivery platform in Canada. Previously, Dan was a Venture Partner at Azure Capital Partners and led the firm’s Canadian investment efforts.In this episode, we discuss:(02:18) John Ruffolo discusses the potential of AI to solve productivity losses and the challenges of enterprise adoption.(06:12) Intellectual Property in AI Development including data scraping issues and the need for regulatory frameworks(09:31) Stability AI's Downfall and the broader implications for the AI industry, including the challenges of profitability and competition(14:32) Toronto's Office Vacancy Crisis and its impact on property valuations, and the financial health of Canada's largest pension funds(20:00) Dan provides a background on Clutch's business model and the strategic adjustments made to navigate economic challenges, including reducing geographic footprint and focusing on profitability(26:30) The experience of facing economic turbulence, including the shift in market sentiment and the need for rapid strategic changes.(30:04) How Clutch maintained customer trust and transparency during challenging times and insights gained from customer feedback(35:56) Clutch's investment in technology, including AI-powered pricing models and internal tooling, to enhance efficiency and customer experience(41:16) Dan shares his vision for the future of the online used car marketplace, predicting increased e-commerce adoption and leveraging AI for better pricing and customer service(52:24) Advice to entrepreneurs on handling stress, seeking support, and making tough decisions during challenging timesFast Favorites🎙 Favorite Podcast: WorkLife by Adam Grant and All-In📰 Favorite Newsletter / Blog: The Peak📲 Favorite Tech Gadget: Oura Ring📈 Favorite New Trend: Lower use of phones in schools and people focused on reducing screen time📚 Favorite Book: "Endurance" by Alfred Lansing and "Into Thin Air" by Jon Krakauer🤔 Favorite Life Lesson: "Do things for the stories" - the value of experiences and learning through challengesFollow 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

Jordan Nahmias shares his journey from law school to lawyer to know coaching others on how to change careers at Unstuck Consulting. He discusses his dissatisfaction with his law career and the moment he realized he needed a change. Jordan talks about the fear and terror he experienced when deciding to leave his law practice and the support he received from his family and friends during his career transition from being a lawyer to becoming a coach and therapist. He shares his passion for helping people and his ability to listen and understand others.About Jordan Nahmias:Jordan Nahmias is Founder and Principal at Unstuck Consulting Inc. At Unstuck Consulting, he helps lawyers and other professionals find purpose in their careers through coaching.Before starting Unstuck, Jordan was a lawyer working at Goldenberg Nahmias LLP, Hall Webber LLP, and his own law firm, Nahmias Law Professional Corporation.Jordan studied law at the University of Toronto and the University of Hong Kong, earning his Juris Doctor in 2008. He also has a B.A. in Philosophy from Huron University.In this episode, we discuss:(01:34) - Jordan’s journey growing up and his early career path(03:49) - His time after law school teaching yoga and doing legal work on the side(04:29) - Starting his own legal practice and focuses on film and TV work, growing the practice, and merging with another firm(05:19) - The decision to leave legal practice in 2021(06:30) - Reflecting on dissatisfaction with the legal profession from the beginning(08:52) - Realization that a drastic change in career was needed.(09:13) - COVID and having a child as critical factors that sped up the decision to leave law(10:00) - Impact of not bringing the best self home to the family(12:39) - Hitting the "wall" in a career similar to the scene in "The Truman Show"(14:43) - Feelings of terror and preparation involved in making a career change(16:45) - Fear of failure and responsibility in making the decision to change careers(18:15) - The privilege of being able to make such a change and the importance of a supportive network(20:47) - Feedback received during the transition and the importance of accepting one's feelings(24:11) - Explanation of the new career path in helping others navigate periods of stuckness(27:18) - Working with clients to help them navigate career changes and find satisfaction(30:51) - Insights from the keynote on doing scary things and the importance of facing fears(32:39) - Dealing with regret by practicing gratitude(34:13) - Emphasis on focusing on feelings and the person rather than rushing to solutions(39:10) - The role of habits and practices in helping people manage their careers and personal lives(41:13) - Using social media to connect with others and shared experiences(42:40) - What’s next for his career and how people can get in touch with himFast Favorites:* 🎙- Favorite Podcast: Making Sense by Sam Harris* 📰- Favorite Newsletter / Blog: The Imperfectionist by Oliver Burkeman* 📲- Favorite Tech Gadget: Teleprompter setup with an SLR and iPad for Zoom calls* 📈- Favorite New Trend: Baggy clothing coming back into style and the acceptance of discussing dissatisfaction with work, especially for men* 📚- Favorite Book: Fiction: American Psycho; Non-fiction: Let Your Life Speak by Parker Palmer and The Middle Passage by James Hollis* 🤔 - Favorite Life Lesson: "No mud, no lotus" and Nothing is permanent: good times and bad times both passFollow 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

This week in the Tank we have Winter Mead, founder of Coolwater Capital, to discuss his background in venture capital and the challenges faced by emerging fund managers. He emphasizes the importance of understanding the LP perspective and operationalizing the fund to attract institutional investors. Winter also shares insights from his book on raising a venture capital fund and the mission of Coolwater Capital's Accelerator program. The program aims to bridge the knowledge gap for emerging VCs and provides guidance on fund formation, LP fundraising, and fund management. Winter highlights the criteria for selecting VCs for the program and the focus on community orientation.The conversation covers three main themes: fund management and operations, fundraising, and the future of venture capital. Winter emphasizes the importance of setting up the operations of a fund correctly, learning the new language of being a fund manager, and understanding the market when it comes to fundraising. He also discusses the benefits of building a network and leveraging relationships in the venture capital industry. Winter shares their thoughts on the future of venture capital, including the potential for consolidation, the role of AI in fund management, and the continued focus on investing in big themes and challenges.And John Ruffolo and Matt Cohen discuss the week’s news.About Winter Mead:Winter Mead is the founder and managing member of the investment firm Coolwater Capital. The firm focuses on emerging managers and technology investments. He is author of How To Raise A Venture Capital Fund, and operates Coolwater, an academy for training, building and scaling emerging managers. Coolwater has worked with over 240 emerging managers in the last four years.Prior, Winter helped build and invest an evergreen fund at SAP, a publicly listed enterprise software company, where he co-founded the LP transparency movement called #OpenLP. Winter also worked as a private equity and venture capital investor at a large multi-family office in San Francisco. Winter has completed seventy-nine institutional investments, as well as over twenty-five other investments since leaving his institutional allocator role. He served as junior faculty at Stanford Graduate School of Business on Venture Capital and Entrepreneurship.Winter holds a Master of Science degree majoring in Management Research from the University of Oxford and a Bachelor of Arts degree from Harvard University.In this episode, we discuss:(02:06) John Ruffolo discusses the potential political motivations behind not including a higher capital gains tax in the recent budget proposal and how it might be a strategic move by the government to pressure the conservative opposition(02:29) A potential second reason for the omission might be a need for more time to draft detailed rules around the new capital gains strategies, suggesting it's still a work in progress(03:35) The governmental challenges in managing the budget and public expectations, highlighting the difficulty in aligning political strategies with economic needs.(06:01) Concerns about the impact of unrestricted immigration on housing markets, criticizing the government for not addressing the core issues of housing supply.(07:34) The need for national unity and economic growth rather than redistributive measures that pit different societal groups against each other.(12:40) Llama 3 might cause disruption in the AI model market, praising its rapid adoption and potential to democratize high-quality AI tools(16:34) Winter Mead describes the mission of Coolwater Capital as supporting emerging managers, detailing how the firm aids them through training and network building to establish and grow their funds.(17:24) Foundational experiences at Sapphire Ventures that led him to focus on venture capital, highlighting the importance of understanding the investment landscape and operational aspects of managing a fund.(19:39) Discusses the importance of creating educational resources like his book to help emerging managers navigate the complexities of VC funding, emphasizing the lack of consolidated knowledge in the field(23:26) The challenges of fundraising for new funds, including the necessity of aligning with the right LPs and understanding the fundraising environment to effectively position a new fund in the market(24:32) The reasons behind writing his guidebook, aimed at solidifying his understanding of venture capital and offering a structured tool for new fund managers to increase their probability of success(28:07) The inception of Coolwater Capital and its strategic focus on providing a scaffolding to support emerging VC managers through both the fundraising process and fund operations(30:40) The operational complexities of running a venture capital fund, from compliance and management to investor relations, underscoring the importance of operational efficiency for fund success(34:27) The long-term commitment required to manage a ven

Our focus on the 2024 Canadian Federal budget continues, we have Jon Love Executive Chair and Founder of KingSett Capital back to discuss the lack of emphasis on fostering prosperity and a shrinking GDP per capita.While the budget offers some incentives aimed at improving housing affordability and encouraging investments in Canada, the increase in capital gains tax and other measures may slow down real estate development.Notably, the budget doesn't sufficiently tackle the need to boost the housing supply, which is essential for a healthy real estate market. These tax hikes and regulations could also deter investments and lead capital to flee the country. The budget overlooks important challenges faced by small and medium businesses and predominantly focuses on demand without sufficiently addressing supply issues.In this episode we discuss:(00:46) - Overview of the 2024 Canadian Federal Budget and its real estate implications(01:32) - Discussion on new incentives and the overshadowing impact of capital gains increase(05:12) - Challenges in the condo market and strategies for developers(09:28) - The misconceptions around financialization in real estate(13:24) - Necessity for a prosperity agenda and strategies for economic growth(17:31) - Potential effects of the budget on small and medium businesses(19:19) - The long-term consequences of current government policiesAbout Jon Love: Jon Love is the Executive Chair and Founder 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.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

This week we're joined by Nicolas Mulroney, President and CEO of Bond Bakery Brands. Nicolas shares his transition from a finance career at RBC to leading a thriving baking enterprise, highlighting the pivot that led him from Bay Street to Bakery Street.We talk about the founding of Bond Bakery amid the challenges posed by the COVID-19 pandemic and how his upbringing in a political family shaped his entrepreneurial spirit. Nicolas discusses how technology integrates in his business, he offers insights for budding entrepreneurs, and he outlines his future aspirations for the baking industry in Canada.We are also joined by John Ruffolo to talk more about the proposed Federal budget and other news in tech.About Nicolas Mulroney:Nicolas Mulroney is the Co-Founder, Chairman, CEO, and President of Bond Bakery Brands Ltd.Based in Toronto, Ontario, Bond Bakery Brands operates as an investment platform accelerating the growth of bakery companies throughout North America. The company emphasizes community engagement and investment in family- and founder-run businesses, striving to demonstrate that profitability and positive impact can coexist. Bond's portfolio includes a variety of bakery companies, and it employs over 600 individuals across 11 facilities.Before launching Bond Bakery Brands, Nicolas served as the Chairman of Portofino Bakery from June 2019 to October 2020, and he remains the Founder and Managing Partner at Northern Waters Capital since August 2018. His career in the capital markets sector includes roles at CIBC Capital Markets in Investment Banking and Institutional Equity Sales, and at Park Lawn Corporation as Vice President of Mergers, Acquisitions & Strategic Initiatives.Nicolas holds an MBA from the University of Toronto's Rotman School of Management and a Bachelor of Arts from Boston College.In this episode, we discuss:(01:52) John Ruffolo discusses meeting with Minister Freeland focusing on adverse effects of proposed capital gains changes on entrepreneurs and investors(03:32) The dual concerns for innovation community: impact on entrepreneurs and availability of capital(05:00) The federal budget is poor public policy, particularly for venture capital, stressing the importance of maintaining strong domestic capital source(07:24) The need to grow the economic pie rather than just redistributing income(13:45) Public discussions should aim at understanding fundamental problems and exploring viable solutions to foster a collaborative environment across various sectors(15:54) Nicolas Mulroney’s entrepreneurial journey(16:09) Nic’s upbringing and the influence of his family, especially his father from Prime Minister Brian Mulroney, on his career choices(18:27) Challenges and learning experiences from his time in finance that prepared him for entrepreneurship(20:10) Nic’s decision to leave finance to pursue running a business, attracted to transforming old economy industries(21:20) The process and rationale behind using a search fund to acquire a business, eventually leading to the purchase of a bakery(23:37) Advice from his father and Paul Demarais, encouraging him to pursue entrepreneurship(25:33) Operational challenges faced during the pandemic and the strategic shift towards building Bond Bakery Brands(30:08) Describes expansion of Bond Bakery Brands, highlighting the acquisition of assets and focus on commercial bakeries(32:08) The use of technology and data to improve operational efficiency across Bond Bakery Brands(34:36) Consumer trends affecting the bakery industry and the strategic response of Bond Bakery Brands to changing market conditionsFast Favorites:* 🎙- Favorite Podcast: How I Built This* 📰- Favorite Newsletter / Blog: New York Times Dealbook* 📲- Favorite Tech Gadget: Phone* 📈- Favorite New Trend: Ozempic* 📚- Favorite Book: The Outsiders* 🤔 - Favorite Life Lesson: It's a funny thing, the more I practice, the luckier I get.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

On this week's episode, we welcome John Li, CEO and Co-Founder of VimCal. John shares the rollercoaster of starting VimCal, from the initial struggles to gaining traction through a product-led approach, particularly appealing to like identifying and appealing directly to its most influential users—executive assistants.Plus, hear about the extreme loyalty VimCal has inspired, including one user's permanent tribute with a VimCal tattoo.This a candid conversation about resilience, user-focused development, and the importance of customer feedback in building a product that people not only use but love.Also, we have John Ruffolo to discuss the week’s news. Note the news rundown was recorded before the Federal Budget proposal was released, for a full breakdown of the budget go here. About John Li:John Li co-founded Vimcal in 2018 and serves as its CEO. Vimcal is a fast calendar app that helps people manage many meetings and was in Y Combinator. It has features like time zone conversion and keyboard shortcuts. The company introduced Vimcal EA for Executive Assistants, saving time for users at companies like Kleiner Perkins and Dropbox.Before Vimcal, John worked at Twitter as a software engineer from 2016 to 2018, after his company, Peer was bought by Twitter. He started his career with an internship at Apple.John studied at the University of California, Berkeley, where he earned degrees in Computer Science, Business Administration, and French.In this episode, we discuss:(0:02:36) Public reactions to the growth of the public sector and concerns about Canada's economic policies favoring public sector employment over entrepreneurship(0:04:17) Inefficiency in government and the significant decline in productivity among remote public sector workers(0:07:34) The upcoming federal budget will lean heavily on tax increases and the mobility of wealthier individuals and the potential for them to leave Canada due to high taxation(0:15:25) John Li shares his entrepreneurial background, mentioning his early career moves, including working at Twitter and an internship at Apple, which influenced his product development perspective(0:18:21) The moment he and his co-founder decided to start their venture after realizing they enjoyed working together on technology projects outside their corporate jobs(0:20:35) The initial concept for their AR startup, aiming to integrate native advertising into AR environments, and how this idea was ultimately too premature for the market(0:21:51) Pivoting from their initial AR idea during YC after feedback that the market timing was off, describing the emotional challenge of shifting away from an idea that defined their entrepreneurial identity(0:25:56) The shift to VimCal, born out of the frustrations with scheduling during their fundraising. He emphasizes the importance of building a product that the founders themselves would use(0:33:48) The enthusiastic reception of VimCal within the YC community and how personal onboarding calls helped refine the product and convert users into paying customers.(0:43:16) A memorable encounter with a VimCal fan who demonstrated his loyalty through a permanent tattoo of the VimCal logo, highlighting the passionate user base of the product.(0:56:23) The future focus of VimCal on enhancing team features for both internal and external scheduling, aiming to simplify complex scheduling scenarios and expand team collaboration toolsFast Favorites:* 🎙- Favorite Podcast: My First Million* 📰- Favorite Newsletter / Blog: James Clear* 📲- Favorite Tech Gadget: Sous Vide* 📈- Favorite New Trend: Living At Home Into Your 20s* 📚- Favorite Book: Animal Farm* 🤔 - Favorite Life Lesson: Learning how to deal with emotional triggers on a daily basisFollow 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 break down the federal budget proposal announced yesterday and its implications for investors, founders, and entrepreneurs.The increase in the capital gains tax and the lack of appreciation for founders and owners of businesses are driving the narrative of taxing success and the impact this will have on young founders, corporations, and very mobile individuals who can leave the country.The potential negative knock-on effects this will have on innovation and productivity gains and that damage to the startup ecosystem and investment landscape across Canada. The conversation explores potential next steps and the importance of being a part of the solution.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 survived the eclipse and are back discussing the week’s news.Topics discussed:(01:08) Canada's new $2.4 billion AI initiative, positioning the country as a future AI powerhouse with a comprehensive investment plan(07:13) Jamie Dimon's enthusiastic endorsement of AI's transformative potential in his shareholder letter, emphasizing JP Morgan's massive AI investment and ambitious plans(12:56) Paddy Cosgrave's return to Web Summit after a brief hiatus what’s the impact on his reputation and the event's future(14:46) Queen's University introduced a lottery system for medical school admissions to foster diversity, reflecting on the evolving role and value of higher education amidst changing student prioritiesFollow 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

Topics John Ruffolo and Matt Cohen discuss:* (00:00) Cohere's significant fundraising efforts, competing in the LLM space, and the notable involvement of Canadian pension funds at a valuation of $5 billion.* (03:29) Canada's strategy in artificial intelligence emphasizes the critical role of government in education and talent development, but is direct governmental involvement in AI businesses effective?* (06:09) A $4.5 billion lawsuit has been filed against major social media companies by four Canadian school boards* (11:15) Canadian public tech companies like Nuve and Lightspeed consider privatization to avoid public market scrutiny and leverage private investment strategies* (17:00) FTX founder Sam Bankman-Fried sentenced to 25 years for fraud what will the implications be for investor compensation and the broader crypto industryFollow 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 this week’s Tank Talks, we're joined by Pascal Britt-Cote from Export Development Canada (EDC). Pascal breaks down how EDC supports Canadian tech globally, far beyond just physical goods, aiding software and service sectors with knowledge, connections, and financial support to scale internationally.EDC's initiatives include specialized tech units, engagement at key tech events, and partnerships with tech bankers and associations. Utilizing its worldwide offices, EDC connects Canadian firms with global partners and customers. Pascal also highlights EDC's investment matching program for midsize companies, providing targeted financial support based on growth plans.About Pascal Britt-Cote:Pascal Britt-Cote works as the Regional Director, Mid-Market Business for the technology sector for the province of Ontario. He supports a team of talented Relationship Managers located in Ottawa, Toronto and Kitchener / Waterloo. During his 16 years at EDC he's had the opportunity to be part of different teams including underwriting EDC's three suites of products: International Financial Guarantee (IFG), International Trade Guarantee (ITG) and Account Receivable Insurance (ARI). He started his EDC career in 2007 as an Account Manager.He has a BCom with a specialization in Management from the University of Ottawa and also holds an MBA from the University of Montreal.In this episode, we discuss:(01:38) Started working at EDC 17 years ago, interested in international trade and finance. Worked in various roles within EDC, currently leads the Ontario tech mid-market team.(03:02) EDC supports companies that export goods, services, or software. Focuses on five key subsectors including software and B2B.(04:46) Since 2018, EDC has focused on the tech sector, creating tech units in Ontario and Quebec to understand and support the sector better.(07:13) Describes EDC as evolving and more engaged with tech companies. Initial meeting with companies to understand their needs and how EDC can support them.(09:21) EDC can assist founders and sales leaders looking for international partners and customers.(11:47) Explains that every country has an Export Credit Agency (ECA) like EDC; the U.S. equivalent is EXIM.(12:31) EDC's mid-market team handles accounts with sales from $10M to $300M. Criteria for support include having an export angle and a signed equity term sheet.(20:13) EDC helped companies during COVID by providing bonds and standby letters of guarantee to ease supplier payment terms.(26:20) EDC supports companies with knowledge on expanding internationally, including understanding local markets, legal and tax compliance.(30:59) EDC aims to connect with as many tech companies as possible, offering knowledge, connections, and financial solutions.(32:26) Highlights the Indo Pacific region's growing importance and EDC's focus on sectors with the highest growth potential.Fast Favorites:* 🎙- Favorite Podcast: All In* 📰- Favorite Newsletter / Blog: BetaKit* 📲- Favorite Tech Gadget: AirTag* 📈- Favorite New Trend: Polar plunges* 📚- Favorite Book: Can’t Hurt Me* 🤔 - Favorite Life Lesson: Never take anything for granted.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

This week we welcome Randy Garg, Founder and Managing Partner of Vistara Growth. Randy shares his journey from his beginnings at PwC and Discovery Capital to co-founding Beedie Capital in 2010, and launching Vistara Growth in 2015 with support from the Beedie family as his first LP.Randy discusses the challenges tech companies face in securing growth capital and how Vistara Growth offers a mix of Growth Debt and Growth Equity to meet these needs, highlighting successful investments in companies like Zafin and Kore.ai. He delves into the state of private credit, public tech companies, and Vistara's fundraising strategies for its funds, including the transition from family office LPs to institutional LPs with Fund Five.Additionally, Randy talks about the importance of having a credit mindset, distinguishing growth debt from venture debt, and shares strategies for businesses to achieve sustainable growth and overcome scaling challenges. He also emphasizes leadership's role in growth and shares personal recommendations for podcasts, newsletters, and books, along with his life lesson on the importance of self-belief.About Randy Garg:Randy Garg is Founder and Managing Partner of Vistara Growth which provides creative and tailored Growth Debt & Growth Equity financing solutions to mid-later stage technology companies across North America. Vistara's typical investment size ranges from $10 million to $30 million for companies that have scaled or are scaling past $10 million+ in revenues. To date Vistara has raised $600M and is currently investing out of its fifth fund.Prior to launching Vistara, Randy co-founded and was Managing Partner of family office group Beedie Capital (2011-2015). During that time he sourced, completed and managed numerous growth capital financings with particular emphasis on the technology sector.Randy received his BBA from York University, his MBA from UBC, and holds a Chartered Financial Analyst (CFA) designation.In this episode, we discuss:(01:00) Randy shares his extensive background in venture capital, private equity/debt investing, and his significant experience in corporate finance and M&A(03:58) His role as Co-Founder and Managing Partner at Beedie Capital Partners (05:55) Founding Vistara Growth to provide flexible Growth Debt and Growth Equity financing solutions to mid-later stage technology companies across North America(07:48) His stint at PwC Corporate Finance leading the firm’s corporate finance activities across Western Canada for the technology practice(08:44) Vistara Growth's investment philosophy, emphasizing flexible growth capital to support companies as they scale past $10 million+ in revenues(10:21) The current state of private credit and public tech company valuations, identifying opportunities despite market challenges(11:08) Vistara Growth's investment in Zafin(16:45) The broader state of private credit, venture capital retreats, and the impact on companies seeking financing(20:21) The dynamics of the Canadian public market for small-cap tech companies, contrasting it with private financing strategies(23:02) Kore.ai's growth, from significant early achievements to becoming a leader in enterprise-grade virtual assistant platforms(25:52) Explains the unique offering of growth debt and the concept of "rental equity," differentiating Vistara Growth's approach from traditional venture debt(27:09) Future opportunities and strategies for Vistara Growth, focusing on the expanded market gap for flexible capital solutions(31:41) Discusses Vistara Growth's investment strategy and focus areas, including sector-specific strategies and the firm's approach to supporting portfolio companies(35:22) Concludes with future plans for Vistara Growth, emphasizing raising the rest of Fund Five, deployment strategies, and team growth.Fast Favorites:* 🎙- Favorite Podcast: Invest Like The Best* 📰- Favorite Newsletter / Blog: Bloomberg, Wall Street Journal, Globe and Mail, TechCrunch* 📲- Favorite Tech Gadget: Peloton Bike+* 📈- Favorite New Trend: Focusing on health* 📚- Favorite Book: Outlive* 🤔 - Favorite Life Lesson: Always been that on yourself.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

We are excited to have Alex Kolicich, the founding partner of 8VC, on the pod this week. Alex shares his journey from working at Google and Palantir to joining Peter Thiel's hedge fund, Clarion Capital, and later co-founding 8VC. Alex discusses 8VC’s mission to significantly impact their portfolio companies by leveraging their unique blend of industry insight and investment expertise. And we get Alex's take on the recent AI boom in venture capital, dissecting the mega funding rounds in the AI space and providing a forward-looking perspective on startups and fundraising.We also have a news round-up with John Ruffolo.About Alex Kolicich:Alex Kolicich is a Founding Partner at 8VC, where he focuses on IT and Bio-IT investments.Prior to 8VC, Alex was a Partner at Formation 8 and also worked with Peter Thiel as a Principal at Mithril Capital Management, a growth-stage venture fund, where he helped lead investments in AppDirect, C2FO, and Helion Energy.Before his career as an investor, Alex worked as an engineer and early-product advisor at Clarium, Palantir, and Google. He was an early member of the Clarium Capital quantitative engineering team (with Joe Lonsdale) and a close advisor/collaborator with the early Palantir team; advising on product design and contributing to the product. At Google Research, Alex worked on Google Street View before and during its launch and also worked on the development and launch of the Google Checkout.In this episode, we discuss:(01:35) The trend of U.S. private equity firms acquiring Canadian tech companies and the benefits of currency arbitrage(03:17) The difference in capital competition between the U.S. and Canada, indicating a more vibrant private equity scene in the U.S.(06:04) Why John is bullish on Ethereum(08:28) How former Canadian Prime Minister Brian Mulroney's policies shaped the current political and business landscapes(12:45) Alex shares his journey from engineering at Google to venture capital, emphasizing the culture of innovation at Google(14:22) The shift from Google to venture capital, underlining the pivotal role of working with Peter Thiel(17:25) The founding principles of 8VC, focusing on investing in companies that leverage technological advancements(20:05) The potential of AI, Alex predicts its significant impact on the venture capital landscape(23:15) Alex’s his decision to pivot to venture capital, inspired by the opportunity to work with Peter Thiel and invest in deep technology(27:05) Alex discusses the significance of Canadian tech innovations and his motivation to invest in Canadian companies(33:14) Fundraising in 2024 requires growth and capital efficiency(37:25) A future where AI augments knowledge work, leading to societal shifts towards community-oriented living(49:30) Reflecting on Canada's role in the AI revolution, Alex emphasizes the need for proactive policies to attract and nurture talent, positioning Canada as a leader in AI innovation and applicationFast Favorites:* 🎙- Favorite Podcast: Meb Faber* 📰- Favorite Newsletter / Blog: Interconnects* 📲- Favorite Tech Gadget: Airpods Pro* 📈- Favorite New Trend: The rebirth of Silicon Valley* 📚- Favorite Book: 1984* 🤔 - Favorite Life Lesson: Put yourself in a position where you work with the most talented 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

This week we are joined by Elio Narciso, founder of ScaleStack, who discusses his journey as an entrepreneur and the challenges of building and selling companies.He shares insights from his time at AWS and the lessons he learned about go-to-market strategies. Elio explains the creation of ScaleStack AI and the importance of problem-solving before incorporating AI. He emphasizes the significance of founder-led sales and building trust with customers. Finally, Elio introduces the Revenue Engine Masters podcast and its focus on revenue operations and sales operations professionals.About Elio Narciso:Elio Narciso, the Co-Founder and CEO of Scalestack, leads a team focused on innovating sales operations. Before founding Scalestack, Elio worked at AWS as a Principal BD and Program Manager, developing a GTM program that helped startups like Notion, Webflow, and Zapier.His operator background includes starting and selling two mobile internet companies and taking on advisory and investment roles in startups such as Bitbrand and Instal.Elio earned his MBA from MIT Sloan, concentrating on entrepreneurship and finance, and is fluent in three languages.In this episode, we discuss:(01:25) Elio recounts his journey from Italy to the U.S. for an MBA at MIT, where his entrepreneurial aspirations took root.(06:19) His experiences building Mobave, learning from its acquisition, and the importance of co-founders(13:19) The creation and legacy of the AWS Global Startup Program(23:11) Why his startup Measure It's failed due to a focus on technology over market needs(25:07) The thrill of seeing users engage with and love a product, underscoring the importance of creating valuable solutions.(26:32) Why founder-led sales in early-stage startups is critical for direct learning and ensuring product-market fit(33:43) The importance of personal communication, like texting, in building deeper customer relationships.(37:57) ScaleStack's approach to automating sales processes, emphasizing efficiency and the use of AI(41:18) Elio’s podcast targets rev ops and sales ops professionals, focusing on efficiency and innovation in sales.Fast Favorites:* 🎙- Favorite Podcast: Lex Fridman* 📰- Favorite Newsletter / Blog: Money Stuff* 📲- Favorite Tech Gadget: Phone, Sonos* 📈- Favorite New Trend: Productivity gains* 📚- Favorite Book: Guns, Germs, and Steel* 🤔 - Favorite Life Lesson: Be A Better ListenerFollow 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

Lots of news to discuss with John Ruffolo and Matt Cohen:(00:21) The significant downturn in venture capital, the early reset signs, and the impact of a conservative approach to business and fundraising in 2023, especially in Canada(02:09) The fate of companies that struggled to raise funds in 2023 and the shift towards supporting perceived winners and the inevitable challenges for "B" companies(05:29) Private equity's large market and diverse opportunities(06:48) Foundry Group's shutdown and the lack of structure for succession in VC(09:20) The effectiveness of CEO shakeups and the high-risk nature of founders returning to their companies, questioning such moves.(12:23) AI's explosive growth and why investing in foundational AI technologies is the best approach and the potential for major shifts in enterprise applications and cost reductionsFollow 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

This week, we dive into the exciting world of defense tech with Jake Chapman from Marque Ventures. Jake shares his journey into VC, why Marque Ventures was born, and how shifts in geopolitics and advancements in AI, cybersecurity, and autonomous tech are driving VC interest in defense tech.He opens up about the hurdles of long development cycles, regulatory landscapes, and ethical dilemmas while offering insights into DoD procurement strategies, the importance of a defense-first approach, and the power of public engagement for raising sector awareness.Wrapping up, Jake touches on the significance of strategic partnerships and the evolving M&A scene, highlighting a future with a broader range of buyers in the defense tech space.About Jake Chapman:Jake Chapman is managing director at Marque Ventures, an early-stage VC firm focused on defense and dual-use technologies. He has played pivotal roles in various companies, leveraging technology to enhance national security. Jake focuses his investments on sectors like AI, robotics, aerospace, and quantum computing.In addition to investing, Jake is a co-host of "The Merge," a podcast making defense technology accessible and engaging. He also is a writer, where he shares insights on technology's future and venture capital, contributing to major publications like TechCrunch and WIRED.Jake has a BS and JD from the University of California, Berkeley.In this episode, we discuss:(01:16) Jake's transition from law to venture capital was sparked by his passion for sci-fi and a desire to be closer to technology and entrepreneurship(02:07) Launching Marque Ventures, Jake aimed to bridge the gap between startups and the complexities of DOD procurement, drawing on his rich background in tech and legal expertise(03:05) His endeavor to reform Army Venture Capital led to the creation of Marque Ventures, targeting the underexplored niches of defense technology(06:23) Why the geopolitical climate and innovation in AI, cybersecurity, and autonomous systems for the increased interest in defense tech from generalist VCs(11:59) The unique challenges of DOD procurement, and why startups should align their solutions with DOD needs from the outset(17:12) The importance of securing sufficient funding and understanding the long-term commitment required(20:23) Why Marque Ventures focuses on filling the Series A funding gap in defense tech(22:00) Discussing portfolio synergies, Jake mentions GoTenna's mesh networking as a prime example of integrating technologies for enhanced defense capabilities(23:23) Jake reflects on the changing dynamics of military engagement, stressing the need for cost-effective solutions in contemporary conflicts(25:06) The flaw in cost-plus contracting model, advocating for a shift towards more economically viable defense procurement strategies(28:48) The need for innovation in defense manufacturing, Jake envisions a TSMC-like platform to support the scalability of defense tech startups(35:38) The concept of 'dual use' in defense tech, citing SpaceX as an exemplary model for successfully navigating and scaling in this sector(37:13) The global defense market's potential, encouraging startups to look beyond the US for opportunities(40:44) What its like to co-host his own podcast, The MergeFast Favorites:* 🎙- Favorite Podcast: The Pitch* 📰- Favorite Newsletter / Blog: The Merge Newsletter, Defense Tech and Acquisition* 📲- Favorite Tech Gadget: iPhone, Switch* 📈- Favorite New Trend: Generative AI* 📚- Favorite Book: Tuxedo Park* 🤔 - Favorite Life Lesson: You don't get what you don't ask for.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 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

We welcome NBA superstar Baron Davis, who shares his insights into the transition from sports to business. Baron shares his journey growing up in South Central LA and how he leveraged the advice from mentors and fellow athletes to help build a lasting legacy beyond his NBA days.Baron's story is not just about sports, it's about leveraging his athletic career into a second act in business, and how he was able to navigate the business landscape with the same agility he used on the court, and mentoring the next generation to do the same.About Baron Davis:Baron Davis is an entrepreneur, investor, and two-time NBA All-Star and record-holder. Known for his electrifying style on the court, Davis was a powerful point guard, who won acclaim for executing in crucial, high-pressure moments, when his team needed him the most. As a businessman, Baron was one of the original investors for Vitaminwater and helped launch Thrive Market.Baron is also the founder of several companies, including Sports and Lifestyle in Culture (SLIC), The Black Santa Company, BIG, and No Label—each with the objective of combining creative talent with original publication and production to develop and provide educational and heartwarming stories that appeal to global audiences of all ages. Baron also served as producer of several acclaimed documentaries including Crips and Bloods: Made In America, 30 for 30: Sole Man, and The Drew: No Excuse, Just Produce. In this episode, we discuss:(1:45) Basketball and finance lessons from early mentors shape Baron’s path(3:08) Transition to Crossroads exposes him to diverse social dynamics, sparking entrepreneurial curiosity(5:01) Early representation and self-navigation in his career(7:00) The launches of BIG focusing on curated networking for athletes and investors(11:56) BIG's educational and corporate partnership strategies aim for impactful industry connections(14:08) The importance of efficiently using athletes' time off the court and ensuring meaningful business interactions(16:37) BIG's approach to education and corporate partnerships, aiming for impactful connections across various industries(19:42) BIG's role in fostering business relationships in sports(21:24) Forming productive partnerships between athletes and entrepreneurs(26:36) His personal investment story with Vitamin WaterFast Favorites:* 🎙- Favorite Podcast: All The Smoke, Earn Your Leisure, Lewis Howes* 📈- Favorite New Trend: AI, VR-AR, Digital Asset Protection* 📚- Favorite Book: Rich Dad, Poor Dad, The Tipping Point* 🤔 - Favorite Life Lesson: Be happy for the things you have, be happy for the people that are in your life, and you can't control what other people doFollow 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

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:

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