The time of year for reflection is upon us, so in this week’s episode the team and I review our 2024 predictions and dive into bold forecasts for 2025. From the impact of geopolitical shifts to the state of venture capital and global deglobalization trends, we explore what lies ahead for technology, startups, and markets. We cover key trends like AI's application layer boom, the rise of humanoid robots in the workforce, the evolving IPO market, and much more.

What do you think is going to happen in 2025? Share in the comments below.

Links:

• Book: The Fundraising Rules
• Interplay: Website, LinkedIn, Twitter
• MPD: LinkedIn, Twitter

In this week’s episode Phuong and I dive into the essentials of early-stage startup fundraising, exploring the diverse options available to founders. We discuss everything from leveraging friends and family to connecting with angel investors, accelerators, and venture capitalists, as well as alternative funding methods like non-dilutive capital and crowdfunding. Our goal here was to share practical advice on building relationships with investors, tailoring your approach to your business type, and strategically positioning your startup for success. Whether you're just starting out or refining your fundraising strategy, this episode provides actionable insights for securing the right kind of capital.

Links:

• Book: The Fundraising Rules
• Interplay: Website, LinkedIn, Twitter
• MPD: LinkedIn, Twitter

What if I told you there’s a way to make reading as entertaining and interactive as video games and social media?

Wendy - an innovative new app that’s transforming how kids engage with stories - is doing just that. They’re creating a platform to compete in today’s captivating, fast-paced media landscape, and on this week’s ep I chat with Lance Neuhauser - Wendy’s Founder & CEO - all about their mission.

If you’re a parent wanting a fresh approach to getting your child excited about reading, this episode is a must-listen and Wendy is a must-try.

During our conversation, Lance shares how Wendy empowers kids to create their own worlds, select characters, and shape unique adventures—encouraging a love for reading by making it fun, immersive, and personalized. In an age when screen time often feels like the enemy of education, Wendy brings the best of both worlds, helping kids rediscover reading in a way that’s safe, engaging, and socially connected.

Parents will appreciate how Wendy is built with children’s development in mind, thanks to insights from educators, authors, and psychologists. As you might suspect, building a platform like that is no easy feat. We chat all about the significant challenges and strategies in building an app that safeguards kids’ online experiences, respects intellectual property, and offers educational benefits. By bridging the gap between entertainment and literacy, Wendy isn’t just an app; it’s a tool that turns screen time into story time, fueling imagination and learning.

Coming out of our Interplay Foundry, I’ve been fortunate to get a front row seat to see Wendy’s amazing growth over the past year so I was excited to record this episode. Enjoy.

Links:

• Wendy: Instagram, LinkedIn
• Lance: LinkedIn
• Interplay: Website, LinkedIn, Twitter
• MPD: LinkedIn, Twitter

This week, Phuong and I dive into one of the most crucial yet often perplexing aspects of startup formation: cap table construction and equity distribution. If you're setting up a startup or restructuring your cap table, this conversation is a must-listen.

We discuss the essentials of setting up a cap table that aligns with industry norms, aiming to attract investors while motivating founders and early employees. From understanding equity splits among co-founders to planning an option pool for future hires, we cover actionable insights that can help founders avoid common pitfalls. This is a tough topic for new entrepreneurs and we hope that this can help folks build a balanced and adaptable ownership structure that supports growth and long-term success.

As someone passionate about the role of innovation in advancing society, I’m particularly interested in how rapidly evolving technologies - like artificial intelligence, robotics, and dual-use technologies - are reshaping the military landscape. Naturally, I was thrilled and honored that Major General Julian “Ghost” Cheater joined me on the pod to explore this intersection of technology and warfare.

Ghost, a senior leader in the U.S. Air Force, shared invaluable insights into how the military anticipates future conflicts and adapts to emerging technologies, as well as the importance of collaboration between the military and private sector tech companies. We dove deep into everything from how advanced software applications are used to streamline operations, to the critical role private companies play in supporting national defense through dual-use innovations.

One of the most eye-opening moments of the conversation was when we discussed the ongoing conflict in Ukraine and the lessons being learned in real time, especially in terms of adapting technology to the battlefield. Ghost emphasized that the tech industry and military can help prevent conflict through innovation. This episode was a powerful reminder that while the stakes are high in defense, there is tremendous opportunity for technologists and entrepreneurs to contribute to national security in meaningful ways. I'm excited for listeners to hear how they can get involved and make a difference.

Links:

• Defense Innovation Unit
• Air Force Acquisition
• Chief Digital and Artificial Intelligence Office
• Doing Business with the Department of Defense Flow Chart

Podcast Links: Website, YouTube, Twitter, LinkedIn

Determining how much capital a startup should raise during each funding round is hard. This week, Phuong and I break down the tools and methodologies that founders and VCs use to calculate the right number, emphasizing the importance of creating a detailed operating model. The conversation covers key fundraising strategies, including aligning milestones with investor expectations and avoiding common pitfalls like over-dilution. Our goal during this chat was to offer practical insights on managing capital efficiently and ensuring long-term growth. If you’re a founder looking to navigate the fundraising landscape with confidence, this episode is definitely for you.

Links:

• Podcast Links: Website, YouTube, Twitter, LinkedIn 

We kick off a new season by sitting down with Patrick Butler, the CEO of BizDefender. Patrick, a seasoned founder with deep technical expertise, discusses his latest venture, BizDefender, a company co-founded with Interplay. BizDefender addresses the growing epidemic of fraud targeting small and medium-sized businesses. The conversation delves into the various types of business fraud, including hacking, social engineering, and brand spoofing. Patrick explains how BizDefender is stepping up with a simple, accessible solution, including a free-tier product, to help businesses monitor and mitigate these fraud risks, which are often invisible yet devastating.

Patrick and I also discuss the broader mission behind BizDefender, which aligns with Interplay’s studio model of building companies that create both social value and sustainable business solutions. Patrick emphasizes how small businesses are particularly vulnerable to fraud, with median losses that could cripple many companies. BizDefender aims to provide these businesses with a much-needed defense, offering tools to monitor dark web activity, protect against phishing attacks, and offer human support to navigate the complex landscape of fraud prevention.

Give it a shot and see how BizDefender can help your company stay safe at bizdefender.com.

Links:

• BizDefender Links: Website, LinkedIn, Instagram
• Podcast Links: Website, YouTube, Twitter, LinkedIn

For this week's episode - the last one before the podcast takes a summer break - my colleague Mike Rogers joins to discuss Apple's new updates + AI announcement. Additionally, we touch on the implications of growth round pay-to-play dynamics in the early-stage market.

This week's pod is a mid-year check-in on the global markets with Chris Zhang. Chris shares his insights on the current state of the U.S. and global markets and we dissect key economic data, market trends, and potential risks, offering a nuanced evaluation of the economic landscape.

Phuong delves into the crucial strategies for acquiring initial customers when launching a B2C (business-to-consumer) product. We discuss the importance of targeting early adopters who feel the problem intensely and are willing to tolerate an imperfect product. Practical advice is provided on how to find these initial users both offline and online, emphasizing the value of human contact and direct feedback. The episode also highlights successful pre-launch community building and beta program strategies, with real-world examples such as Harry's pre-launch referral program.

• Follow us on Twitter: @mpd, @interplay
• Podcast Links: Website, YouTube, Twitter, LinkedIn