The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Micah Rosenbloom of Founder Collective joins Nick to discuss Don't Play the Game on the Field, What the 500 Largest Exits Tell Us, How and When to Sell Secondary, and VC's Identity Crisis. In this episode we cover:

• Investment Patterns and Risk Management
• Strategic Deviations in Investing
• The Mechanics of Picking Winners
• Liquidity and Exit Strategies
• Future Outlook on AI and Industry Trends

Guest Links:

• Micah's LinkedIn
• Micah's X
• Founder Collective's LinkedIn
• Founder Collective's Website

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Glenn Solomon of Notable Capital
• Vivek Vaidya of super{set}
• John Chen of Fika Ventures

We asked guests for the most important piece of advice that they'd share with folks early in their venture career.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Ben Black of Akkadian Ventures
• John Chen of Fika Ventures
• Ross Fubini and Manish Patel of XYZ Venture Capital

We asked guests to discuss the most visionary founder that they've worked with and what makes them so special.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Ross Fubini and Manish Patel of XYZ Venture Capital joins Nick to discuss The Power of Founder Mafias, Why Venture is Bifurcating, and Lessons from Good Strategy, Bad Strategy. In this episode we cover:

• The Palantir Mafia Culture
• Comparing Ramp and Palantir Cultures
• Building Successful Partnerships
• Google Alumni vs Palantir Alumni
• Navigating AI Trends and Value
• Underwriting Future Successes
• The Evolution of Venture Capital Firms

Guest Links:

• Ross's LinkedIn
• Ross's X
• Manish's LinkedIn
• XYZ's LinkedIn
• XYZ's Website

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Glenn Solomon of Notable Capital
• Vivek Vaidya of super{set}
• John Chen of Fika Ventures

We asked guests to tell the most important lesson they've learned in their career.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Larry Cheng of Volition Capital
• Glenn Solomon of Notable Capital
• John Chen of Fika Ventures

We discuss major conflicts that guests have faced and how they resolved them.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

John Chen of Fika Ventures joins Nick to discuss Fear and Greed in AI, The Rise of Kingmakers, and Is Seed the Sucker Round?. In this episode we cover:

• Differences Between Bay Area and LA Founders
• Lessons from Emergence and Building Fika
• Investing in AI Native Services and Copilots
• Challenges and Opportunities in Seed Investing
• Founder Profiles and Career Paths

Guest Links:

• John's LinkedIn
• John's X
• Fika Ventures' LinkedIn
• Fika Ventures' Website

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Grant Demaree of Onebrief
• Ben Black of Akkadian Ventures
• Glenn Solomon of Notable Capital

We asked guests to share the best question they've ever been asked by an allocator.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

On this special segment of The Full Ratchet, the following Investors are featured:

• Mark Peter Davis of Interplay
• Glenn Solomon of Notable Capital
• Vivek Vaidya of super{set}

We asked guests to discuss the most visionary founder that they've worked with and what makes them so special.

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Vivek Vaidya of super{set} joins Nick to discuss AI Cost Structures and Pricing, Proprietary Data Sets That Create Moats, and a Clear Method for Determining Which Problem to Solve First. In this episode we cover:

• Challenges and Considerations in Selling Companies
• Building Companies and the Importance of Selling Ahead
• Navigating AI-Native Products and Cost Structures
• Valuation and Pricing of AI Companies
• Data as a Moat in the AI Era
• Distinguishing Between Frontier Labs and Startups
• Open Source and Data Security in AI Products

Guest Links:

• Vivek's LinkedIn
• Vivek's X
• super{set}'s LinkedIn
• super{set}'s Website

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.