Tank Talks By Ripple Ventures

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 Kupetz

Deborah 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 Goldie

Peter 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 and iPad.

(31:15) – The First Steps in Pursuing Category DesignKey steps companies should take when pursuing category design.

(33:00) – Challenges in Defining a CategoryThe challenges startups face in differentiating themselves with category design.

(35:00) – Real-World Examples of Category DesignExamples of companies that redefined their categories, and the risks involved.

(38:30) – Timing and Consumer Behavior in Category DesignThe importance of timing and understanding consumer behavior.

(40:45) – Case Study: Radical ScienceHow Radical Science created the "Proof as a Service" category using consumer participation.

(45:00) – Storytelling in Category DesignThe role of storytelling in effectively communicating a category’s value.

(47:30) – Balancing Current Products with New VisionsHow companies balance existing products with bold new category visions.

(50:00) – Role of Investors in Category DesignHow visionary pitches framed around new categories can win over investors.

(53:00) – Overcoming Internal Resistance to Category ShiftsHow leadership and sales teams can embrace new category strategies despite initial resistance.

(55:00) – Case Study: Airbnb’s Category JourneyAirbnb’s evolution from offering short-term rentals to defining "community-led hospitality."

(57:00) – Using Category Design to Persuade InvestorsHow bold, category-driven strategies can secure investor buy-in.

(59:00) – The Future of Category Design and Emerging TrendsHow AI and the Internet of Things (IoT) will shape future category creation.

(01:02:00) – Favorite Category KingsPeter and Deborah share their favorite category-defining companies, such as Sonos and Patagonia.

Fast Favorites:

* Favorite Podcast:

* Peter: 99% Invisible – a podcast about design in all its forms.

* Deborah: Darknet Diaries – a podcast that explores the dark side of the internet, hacking, and cybercrime.

* Favorite Newsletter or Blog:

* Peter: Never Enough by Andrew Wilkinson of Tiny Capital.

* Deborah: Human Times, focusing on developments in AI, robotics, and human-centered technologies.

* Favorite Tech Gadget:

* Peter: Beacon 40 – a light designed to ward off dementia and Alzheimer’s by syncing gamma waves in the brain.

* Deborah: Neuralink (future potential).

* Favorite Book:

* Peter: Play Bigger – the bible of category design.

* Deborah: Outlive by Peter Attia, and the classic Invisible Cities by Italo Calvino.

* Favorite Life Lesson:

* Peter: "Things just don’t go as expected."

* Deborah: "You have universal permission – go for it."

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Podcast production support provided by Agentbee.ai

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 Lacavera

Anthony 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 success

Fast 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.

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.

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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 Sharma

Arati 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 Kanwar

Satish 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 tech ecosystem

(37:27) BetaKit’s mission and avoiding paywalls to tell Canadian stories

(42:01) Balancing personal and professional life while building together

(44:41) How becoming a parents made them more empathetic leaders and taught them the importance of work-life balance

(47:51) The biggest risk to Canadian tech is a lack of shared vision

(50:07) The need for affordable living to foster Canadian innovation

(53:01) Leaving a legacy as force multipliers for Canadian tech

(53:38) The legacy they want to leave

Fast Favorites:

🎙 Favorite Podcast:

* Arati: Armchair Expert and The Dream Bigger Podcast by Siffat Haider

* Satish: Acquired Podcast

📰 Favorite Newsletter or Blog:

* Both: BetaKit

📲 Favorite Tech Gadget:

* Arati: Oura Ring

* Satish: Withings Body Smart Scale

📈 Favorite New Trend:

* Arati: Companies actually making money

* Satish: Rejection therapy

📚 Favorite Book:

* Arati: Pride and Prejudice by Jane Austen

* Satish: The Courage to be Disliked by Ichiro Kishimi and Fumitake Koga

🤔 Favorite Life Lesson:

* Arati: "Better late than never."

* Satish: "Embrace naivety."

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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 McCullough

Tom 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.

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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 industry

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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 mentality

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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 Name

Melissa'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 experiences

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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 transparent

Fast 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 laughs

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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 government

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