Founders in Arms

In this episode of Founders in Arms, Immad Akhund and Raj Suri speak with Ryan Petersen, co-founder and CEO of Flexport, about the recent implementation of 104% tariffs on Chinese imports.

Ryan shares insights on how businesses are responding to this trade crisis, strategies for supply chain adaptation, and the broader implications for US-China commerce.

The conversation explores how Flexport is helping customers navigate these challenges, the economic impact of protectionist policies, and Ryan's personal journey as a founder.

From global trade dynamics to startup leadership wisdom, this episode offers valuable perspective on managing through economic uncertainty.

"Schools try really hard to do all these jobs equally well for all kids, and it's a completely impossible task."

ClassDojo CEO Sam Chaudhary shares how his education platform reached 50 million students by making the counterintuitive decision to spend seven years building a network before monetizing. In this revealing conversation with Immad Akhund and Raj Suri, Sam explains why education companies typically fail and how Class Dojo broke through by focusing on parents as true customers rather than selling to institutions.

The discussion explores their unique growth strategy and delves into the psychology of education, with Sam sharing insights on how children develop best in "cozy bubbles" where they can explore interests without constant comparison, and why the balance between challenge and support is crucial for both children and high-performing teams.

This episode offers essential lessons for founders tackling challenging markets, building consumer networks, and creating environments where authentic growth trumps comparison.

"The bar was really low in banking—we're not talking rocket science here. We built a product that reached a reasonable standard."

Mercury CEO Immad Akhund reveals how a focus on solving basic user experience problems enabled his company to secure a $300M Series C at a $3.5B valuation.

In this revealing episode, Hiten Shah (founder of Crazy Egg, KISSmetrics, and Nira—acquired by Dropbox) joins Raj Suri to mine insights from Mercury's journey from founding in 2017 to becoming a fintech powerhouseThe conversation explores how Mercury identified underserved segments in financial services and built distinctive features for startups, e-commerce businesses, and professional services.

This episode offers essential lessons for entrepreneurs building in regulated industries, product leaders working on complex user experiences, and founders evaluating fundraising strategies. It’s a masterclass in identifying market opportunities, creating differentiated experiences, and building a profitable business in a highly competitive sector while maintaining focus on customer experience above all else.

Are we mentally prepared for what happens when intelligence becomes an abundant resource rather than a scarce one?

Hosts Immad Akhund (Mercury CEO) and Raj Suri (Lima/Tribe co-founder) welcome back Paul Buchheit—Gmail creator and former Y Combinator partner—for our most requested follow-up episode. Together they dive into how exponentially increasing intelligence will transform our civilization, with Paul bringing his uniquely optimistic yet pragmatic perspective to the profound questions facing humanity.

This wide-ranging conversation includes thought exercises like why the transition from scarcity to abundance creates an existential meaning crisis, how intelligence without intention changes our understanding of consciousness, and why current political systems may be fundamentally incompatible with AI-accelerated progress.

This episode is essential listening for anyone seeking to understand how technology will reshape human experience. 

"The worst thing you can do is hire executives," declares Auren Hoffman in this eye-opening conversation about startup talent strategy. 

As a successful founder turned investor, Auren brings a unique dual perspective on how to build elite teams, properly compensate founders, and navigate fundraising. He reveals why he deliberately structures Flex Capital to do two seed investments per week, argues for rethinking founder equity after the initial four-year vest, and shares controversial takes on why most VCs give advice they don't follow themselves. For founders looking to optimize their leadership teams, compensation structures, and fundraising approaches, this episode delivers practical frameworks that challenge conventional Silicon Valley wisdom.

Being small isn't a disadvantage—it's your superpower. 

Just one provocative sentiment from this episode that challenges conventional startup wisdom and delves into the mindset behind entrepreneurial success.

Waseem Daher brings insights from his journey across three successful startups—KSplice (acquired by Oracle), Zulip (acquired by Dropbox), and now Pilot, where he recently transitioned from CEO to executive chair. Host Raj Suri, himself a multi-time founder, creates an environment where honest founder-to-founder exchange flourishes beyond the typical success narratives.

The conversation unpacks frameworks such as the "David vs. Goliath" approach to competition, why unpopular decisions often signal good leadership, and how to maintain the delicate balance of the Stockdale paradox—confronting brutal facts while maintaining unwavering faith in eventual success. 

This episode offers rare insights into the psychological tools that sustain founders through years of uncertainty and challenge. The mental models discussed here apply beyond startups to any leadership position where resilience, decision-making, and maintaining perspective are crucial to success.

How do you build a sustainable AI business when investors are throwing money at anything with "AI" in the pitch deck? 

This episode brings together Jesse Zhang (Decagon AI CEO), Immad Akhund (Mercury CEO), and Raj Suri (Lima/Tribe co-founder) for a strategic conversation that centers on the business challenges of building an enterprise AI company that can sustain beyond the current hype cycle.

Jesse reveals how AI moves beyond being a mere chatbot to become a "system of intelligence" that encodes complex business logic, creating moats for companies that implement it effectively. The conversation also explores the realities of implementation, adoption, and enterprise sales strategies that actually work.

Technology founders, customer experience leaders, and investors will find this episode particularly illuminating as it bridges the gap between AI hype and practical implementation. Whether you're evaluating customer service AI, selling enterprise technology, or navigating fundraising, this conversation provides the strategic context and tactical insights needed to make better decisions.

Why do even the most sophisticated tech investors often shy away from biotech? It often seems like an impenetrable maze of regulations, clinical trials, and complex science.

Enter Hannu Rajaniemi, who brings a refreshingly clear perspective to the world of biotech. As both the CEO of Helix Nanotechnologies and a bestselling science fiction author, he bridges the gap between cutting-edge science and practical business insights. In conversation with Mercury CEO Immad Akhund and Lima co-founder Raj Suri, Rajaniemi reveals the real dynamics shaping the future of medicine.

The discussion unpacks several game-changing trends that every tech entrepreneur should understand: how AI reasoning models are revolutionizing research and development, why global competition is making traditional biotech business models obsolete, and what really matters when evaluating biotech investments. 

What happens when the ultimate startup veteran joins a 3,000-person company? 

In this gripping episode, Mercury CEO Immad Akhund and serial founder Rajat Suri sit down with serial entrepreneur Hiten Shah (Crazy Egg, KISSmetrics, Nira, sold to Dropbox) for a candid conversation about founder identity over the course of an entire career. 

Get practical insights on choosing the right customers, surprising parallels between AI and the AWS revolution, and the hidden truths about venture-backed versus bootstrapped companies. 

Whether you're building your first startup or considering an exit, you'll learn from three founders who challenge conventional wisdom while sharing hard-won lessons from decades of company building. 

As founders of VC-backed startups face tough choices between down rounds and running out of cash, Jesse Tinsley is turning unprofitable startups profitable at incredible speed by tossing out the typical M&A playbook.

Jesse is a prominent entrepreneur and investor in the HR technology and recruitment industry. He is Founder and CEO of multiple successful companies, including Employer.com and Recruiter.com.

In this conversation with Mercury CEO Immad Akhund and Tribe co-founder Raj Suri, Jesse unveils his counterintuitive strategy—from how he finds companies, why VCs actually love working with him, and how he structures deals with limited capital.

He shares candid details about his recent acquisition of Bench Accounting and even discusses his current bid for TikTok, offering a masterclass in seeing opportunity where others see distress.