Most of us remember what it's like to want to be in a room we're not allowed into.

For Phoebe Pincus, that room was startups. Before she became CEO of Startmate, she was writing heartfelt cover letters to startups who never wrote back, wanting in with no warm intro and no way through the door. And so when someone said yes, she never forgot what that felt like and it's shaped everything she's built since.

Today Phoebe leads Startmate, the community-driven seed fund that has touched over 10,000 founders, operators and investors across the ANZ ecosystem. She's also the co-founder of Cheeky Run Club, an amateur running podcast that hit a million downloads in two years by doing one thing: making people feel like they belonged as runners.

In this episode, she talks about what it actually takes to build a community people genuinely belong to, not just show up to. What she looks for in the founders most likely to succeed and the trap that even the best fall into. Why making it easier to build products is quietly creating a generation of founders who've stopped talking to customers. And why everything that looks like a threat to the startup ecosystem - hacker houses, closing accelerators, VCs going earlier - looks to Phoebe like good news.

In a world drowning in bad news, Phoebe looks at the same facts as everyone else and chooses to see opportunity. We love it.