The Syndicate

The Syndicate

By Matt WardBusinessNewsEducationTech News
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The Syndicate episodes

  • Startup Pirate Game Theory

    “If you’ve got a dream and your dream doesn’t require a team, you need to dream bigger.” — Unknown
    When working with startups (both as an investor and advisor), I like to focus on incentivizes. The more aligned your organization is, the better the performance will be.
    Commissioned sales people are hustlers. Ever buy a used car? They do anything to get the sale, but they don’t care about the dealership. The majority of their compensation comes from sales. They don’t get a piece of the bigger pie, so why help other salesmen? It is a bit of a dog eat dog world.
    The other extreme (Corporate America) is just as bad.
    If you are working at a startup, you don’t want just a job. Your goal isn’t simply a paycheck and benefits — you want meaning. And upside.
    Founders are crazy. They have to be to fight to bring something radical new way to the world. And they magnetize others to follow them.
    But early startup employees are crazy too. They believe in the vision of building something bigger — but they also “own” the company in a sense. This is their baby, they have a stake and they create the culture from day one.
    But it isn’t all fun and games…

    A pirate’s life for me?
    Being a pirate is a lot like joining a startup — a rebel on the high seas setting sail into the unknown in search of treasure and adventure. And the seas aren’t smooth, anything but actually. But the rewards can be life changing.
    For ships to function, the entire crew must be aligned. Every mate has his (or her) job. Everyone relies on everyone else. There is little room for error, and the opportunities to die are endless.
    The pirate captain
    Everyone knows the captain’s in charge — at least that’s the myth. The reality, much like any situation is that leaders succeed (and survive), only when their crew permits it. Too much trouble, running out of food, stock price plummeting… mutinies occur. The collective pick the person most able to help them achieve their goals. If it is not you, you are out.
    It is a bit like game theory.
    That is the motivation for this post: the pirate’s riddle. In essence, a captain has 100 gold coins. How does he divide them among the 4 members of crew to maximize his share — keep in mind the majority can throw him overboard if they feel cheated (here is the riddle if you want to try and solve it).
    The riddle isn’t important, the consideration of others in the equation, specifically the equity equation is.
    Startup equity
    How much is too much?
    That is the number one question I get from founders. We are hiring a VP of this or a head of that and I don’t know how much equity to give them.
    Fred Wilson has a great system here, but says
    “for your first key hires, three, five, maybe as much as ten, you will probably not be able to use any kind of formula”.
    Alternatively, Leo Polovets of Susa Ventures presents another well thought out, data-supported strategy.

    At 1–10 person companies, 0.5% — 2.0% is a pretty common range, though some companies fall outside of this range.
    For 11–50 person companies, 0.1% — 1.0% is typical.
    For 51–200 person companies, 0.01% — 0.2% is typical.

    13 min
  • UK Startup Investing
    Peter Cowley has been active angel investor for ten years, personally investing in over 60 startups and was named UK Business Angel of the Year 2014/15 and Best Angel of the World by the World Business Angel Investment Forum in February 2017.
    He is also the chair of the board of the Cambridge Business Angels and the Investment Director of the Marshall of Cambridge, Martlet Corporate Angel division.
    Listen and Learn:

    * The problem with transparency in investing
    * How startups and investors can align incentives for better outcomes
    * Why angel investing in the UK has HUGE tax benefits
    * How to evaluate startups for funding
    * Why Peter only invests in founders he’s met in person
    * What to look for in co-investors
    * How investors can build a successful brand
    * What proper due diligence actually means
    * Will Brexit affect UK startup scene?



    Peter’s Projects:
    Peter’s Angellist profile
    PeterCowley.org
    The Invested Investor podcast
    Peter’s Twitter: @plcowley
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.Peter Cowley has been active angel investor for ten years, personally investing in over 60 startups and was named UK Business Angel of the Year 2014/15 and Best Angel of the World by the World Business Angel Investment Forum in February 2017.
    He is also the chair of the board of the Cambridge Business Angels and the Investment Director of the Marshall of Cambridge, Martlet Corporate Angel division.
    Listen and Learn:

    * The problem with transparency in investing
    * How startups and investors can align incentives for better outcomes
    * Why angel investing in the UK has HUGE tax benefits
    * How to evaluate startups for funding
    * Why Peter only invests in founders he’s met in person
    * What to look for in co-investors
    * How investors can build a successful brand
    * What proper due diligence actually means
    * Will Brexit affect UK startup scene?



    Peter’s Projects:
    Peter’s Angellist profile
    PeterCowley.org
    The Invested Investor podcast
    Peter’s Twitter: @plcowley
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.
    43 min
  • The Future of Consumer Tech and Humanity Roundtable with Tim O’Reilly, James Allworth, Ben Gilbert and Jeff Morris Jr.
    The Syndicate hosted The Future of Consumer Tech and Humanity Roundtable on 12/20/17.

    Our Expert Panelists:
    Tim O’Reilly is a futurist that has reshaped the computer industry, coined the terms “open source software”, “web 2.0” and “the Maker movement” and had a hand in framing each of those big ideas. He is the founder, CEO, and Chairman of O’Reilly Media, and a partner at early stage venture firm O’Reilly AlphaTech Ventures (OATV). He is also on the boards of Maker Media (which was spun out from O’Reilly Media in 2012), Code for America, PeerJ, Civis Analytics, and PopVox. He is well known for best selling book WTF: What’s the Future and Why It’s Up to Us.

    Twitter: @timoreilly
    Tim’s Book: WTF? What’s The Future and Why It’s Up to Us
    James Allworth is currently Director of Strategy for Medallia and co-author of New York Times best-seller “How Will You Measure Your Life?”, which he wrote with best-selling author Clayton Christensen. He is former Fellow at the Forum for Growth and Innovation at Harvard Business School, a think tank devoted to developing the academic understanding of the innovation process and co-hosts the Exponent podcast with Ben Thompson on all things tech.
    Twitter: @jamesallworth
    Jeff Morris Jr. is currently the Director of Product Management for Revenue at Tinder, where he leads the top grossing app in the world in monetization and growth. He has also built one of the top syndicates on AngelList, all while working full time at Tinder and he focuses on his strong suits: subscriptions, advertising, and a la carte products.
    Twitter: @jmj
    Ben Gilbert’s an ex-Microsoft guy with a passion for startups and growth. He runs Pioneer Square Labs, an innovative venture studio that after raising $12M, has cranked out half a dozen successful startup spin offs — think Rocket Internet without the copy/paste. Ben is also the co-host of the Acquired podcast where he and David Rosenthal of Madrona Ventures discuss the most prolific acquisitions and IPOs in tech history.
    Twitter: @gilbert
    We discuss Facebook, Google, Amazon, Apple and do deep dives on the monopolies of consumer tech, the upcoming trends like VR & AR, wearables & IOT, the future of startups and much much more.
    Want more great round tables and investor interviews. Subscribe today to never miss a thing!
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.
    The Syndicate hosted The Future of Consumer Tech and Humanity Roundtable on 12/20/17.

    Our Expert Panelists:
    Tim O’Reilly is a futurist that has reshaped the computer industry, coined the terms “open source software”, “web 2.0” and “the Maker movement” and had a hand in framing each of those big ideas. He is the founder, CEO, and Chairman of O’Reilly Media, and a partner at early stage venture firm O’Reilly AlphaTech Ventures (OATV). He is also on the boards of Maker Media (which was spun out from O’Reilly Media in 2012), Code for America, PeerJ, Civis Analytics, and PopVox. He is well known for best selling book WTF: What’s the Future and Why It’s Up to Us.

    Twitter: @timoreilly
    Tim’s Book:
    56 min
  • Impact Investing
    Keith is an experienced investor, advisor, operator and PE manager focused on impact investing for awesome ROIs. Prior to working at Flat World Partners, a global impact VC firm focused on truly worldchanging products helping move humanity foward, Keith worked his way up the private equity world before making the jump into venture. Today Keith also runs Bioneca, a medtech company startup focused on personalized supplementation planning.
    Listen and Learn:

    * The biggest difference between venture capital and private equity investment
    * Where investors should look to see the large returns
    * How to think about impact while investing
    * The similarities of Cape Town and San Francisco
    * How to think outside the bubble
    * The key difference between good investors and good operators
    * How blockchain is transforming the developing world
    * Which field will dominate startup returns


    Keith’s Projects:
    Keith’s Angellist profile
    Flat World Partners on Angellist
    Keith’s Twitter: @keithmauppa
    Bioneca
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.Keith is an experienced investor, advisor, operator and PE manager focused on impact investing for awesome ROIs. Prior to working at Flat World Partners, a global impact VC firm focused on truly worldchanging products helping move humanity foward, Keith worked his way up the private equity world before making the jump into venture. Today Keith also runs Bioneca, a medtech company startup focused on personalized supplementation planning.
    Listen and Learn:

    * The biggest difference between venture capital and private equity investment
    * Where investors should look to see the large returns
    * How to think about impact while investing
    * The similarities of Cape Town and San Francisco
    * How to think outside the bubble
    * The key difference between good investors and good operators
    * How blockchain is transforming the developing world
    * Which field will dominate startup returns


    Keith’s Projects:
    Keith’s Angellist profile
    Flat World Partners on Angellist
    Keith’s Twitter: @keithmauppa
    Bioneca
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.
    49 min
  • How to Start a Series A Fundable SaaS Business — A 15 Page Guide to Acquiring Customers and Reducing Churn


    Software as a service is the new heroine.
    Companies and individuals sign up for free trials and are instantly hooked. It is a hell of a drug.
    For B2B customers this is especially true. Most businesses hate change. When the ball is rolling, the last thing you want is overhaul the entire new system. You stick with what is working, the easy solution. Even if it means a few more dollars. Dollars be damned.
    Time is money to these guys and saving days, weeks or even months from switching software is usually a no-brainer.
    If your product solves a pain point for companies and customers, you are in business.
    Software is eating the world.
    You have probably heard this. It is true. AWS, Salesforce, Slack, Shopify, Intuit…
    These companies don’t have physical assets. What they provide and sell is a service, a SaaS product.
    These are some of the most valuable and powerful companies in the world. They don’t focus on physical products. They aren’t buying real estate. They don’t invest in cars, gold or bitcoin. They build businesses others NEED to have and are willing to pay for.
    The beauty of SaaS lies in the margins. Once a piece of code is built, it costs almost nothing to run and maintain. You can scale servers, bring on more devs and the costs never balloon out of control. They stay very small and manageable — a low percentage of the actual price.
    And more and more, companies are moving towards these models. The reason: revenue. Recurring revenue is king. It is the thing all investors and VCs look for. It is the mark of a healthy business.
    How consistent are your cash flows? That is business basics 101. Money in versus money out.
    The 7 keys to killing it with SaaS

    Part 1. Acquiring customers
    In its simplest form, acquiring customers is a must for every business. How do you get individuals or organizations to pay? That is the big question.
    And for every business this is different, not the approach but the end result.
    To get customers, you need to get in front of prospective customers. You need to show the value of your product and explain how it will make their lives better, easier etc…
    (For sake of argument let’s say you have an awesome product)
    (If not, please stop reading and go talk to customers. Figure out what the heck they want and would pay for. Find their pain and fix it.)
    Okay. So assuming you have a good product, how do we get you users, customers, etc…
    The strategy depends on the product, the market and the price point. The higher the price, the more touch points you will need with prospective customers and the harder it will be to get impulse buys or downloads.
    Let’s cover the strategies and pros and cons of each.
    Ways to get customers:

    Referrals
    Paid Ads
    Social Media
    Affiliates
    Partnerships
    Marketplaces
    Content Creation

    1. Referrals aka Word of Mouth
    This is the best, most popular and scalable way to build a business. When your product or service is EPIC and people love it, they talk about it. Every new user they bring is gold. $0 CAC.
    But it is really goddamn hard. Things don’t just GO VIRAL. There is a science and a bit of luck involved.
    Net Promoter Score or NPS is the best way to measure virality. It involves polling customers to find their thoughts and affinity towards your brand/product and how likely they are to share with a friend.
    There are a lot of ways to increase NPS — the most obvious are a great product and killer customer service.
    But virality can also be engineered.
    Airbnb offers a free stay for any friend you refer. Groupon gave great deals for large groups.
    27 min
  • Golem's ICO
    Julian Zawistowski is founder and CEO of Golem, the decentralized supercomputer company that raised $8.6M in 30 minutes in their crowdfunding/ICO. Julian’s company is now valued at $280M and he talks candidly about building a crypto company, managing investors and building a gamechanging disruptive technology.
    Listen and Learn:

    * How the cryptocurrency landscape has evolved
    * The way ICOs are disrupting traditional venture
    * What happens when a pre-product company is worth ~$280M+
    * Why blockchain enthusiasts overestimate short term impacts and underestimate long term impacts
    * How crypto companies should prepare for an ICO
    * What cryptocurrencies and decentralization mean for government and regulation
    * Why Ethereum is the platform of the future


    Julian’s Projects:
    Golem.Network
    Julian’s Twitter: @julianzawist
    Golem’s Twitter: @golemproject
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.Julian Zawistowski is founder and CEO of Golem, the decentralized supercomputer company that raised $8.6M in 30 minutes in their crowdfunding/ICO. Julian’s company is now valued at $280M and he talks candidly about building a crypto company, managing investors and building a gamechanging disruptive technology.
    Listen and Learn:

    * How the cryptocurrency landscape has evolved
    * The way ICOs are disrupting traditional venture
    * What happens when a pre-product company is worth ~$280M+
    * Why blockchain enthusiasts overestimate short term impacts and underestimate long term impacts
    * How crypto companies should prepare for an ICO
    * What cryptocurrencies and decentralization mean for government and regulation
    * Why Ethereum is the platform of the future


    Julian’s Projects:
    Golem.Network
    Julian’s Twitter: @julianzawist
    Golem’s Twitter: @golemproject
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.
    24 min
  • AI Roundtable
    The Syndicate hosted The Future of AI and Autonomous Vehicles Live Streamed Roundtable on 12/11/17

    Our expert panelists include:
    Dennis Mortensen a super successful serial entrepreneur with 3 exits and is currently the founder of X.ai. His company has raised $44M and are solving the issues of scheduling and personal assistants. He has a ton of experience dealing with large data sets and founded several successful analytics companies.

    Prateek Joshi is an 8 time author and researcher/thought leader in the field of AI. He’s given 3x TEDx talks on applied AI and deep learning and is the founder of Pluto AI— a startup using AI for something meaningful, smart water analytics and management.
    Clara Brenner is the Co-Founder of Tumml and serves as its Chief Executive Officer. She is also a Managing Partner at The Urban Innovation Fund. Ms. Brenner is responsible for the firm’s partnership development, marketing, fundraising and building the organization’s national presence and working closely with the organization’s portfolio companies.
    Zach Coelius is an accomplished startup founder and an even better angel investor. As a syndicate lead, Zach was an early investor in Cruise Automation, the driverless car startup later acquired by GM for $1B. Zach is a humble and knowledge investor, advising and investing in numerous startups and offers an in-depth jack of all trades view on future of tech and society.
    We covered a wide range of topics from level 5 autonomy, Tesla and the driverless competition, the future of transportation, the implications and disruptions of displaced jobs and much much more.
    Want more great round tables and investor interviews. Subscribe today to never miss a thing!
    The Syndicate hosted The Future of AI and Autonomous Vehicles Live Streamed Roundtable on 12/11/17

    Our expert panelists include:
    Dennis Mortensen a super successful serial entrepreneur with 3 exits and is currently the founder of X.ai. His company has raised $44M and are solving the issues of scheduling and personal assistants. He has a ton of experience dealing with large data sets and founded several successful analytics companies.

    Prateek Joshi is an 8 time author and researcher/thought leader in the field of AI. He’s given 3x TEDx talks on applied AI and deep learning and is the founder of Pluto AI— a startup using AI for something meaningful, smart water analytics and management.
    Clara Brenner is the Co-Founder of Tumml and serves as its Chief Executive Officer. She is also a Managing Partner at The Urban Innovation Fund. Ms. Brenner is responsible for the firm’s partnership development, marketing, fundraising and building the organization’s national presence and working closely with the organization’s portfolio companies.
    Zach Coelius is an accomplished startup founder and an even better angel investor. As a syndicate lead, Zach was an early investor in Cruise Automation, the driverless car startup later acquired by GM for $1B. Zach is a humble and knowledge investor, advising and investing in numerous startups and offers an in-depth jack of all trades view on future of tech and society.
    We covered a wide range of topics from level 5 autonomy, Tesla and the driverless competition, the future of transportation, the implications and disruptions of displaced jobs and much much more.
    Want more great round tables and investor interviews. Subscribe today to never miss a thing!
    1 hr 2 min
  • Uber is Going to 0, and Benchmark Knows It!
    “Moving first is a tactic, not a goal….It’s much better to be a last mover.” — Peter Thiel
    On the surface this seems contrarian. When is being last better than being first?
    Steve Jobs understood this. Apple didn’t make the 1st MP3 player or the 1st smartphone. Yet in consumer tech, Apple is synonymous with both.






    That was no accident. This is Thiel’s theory in practice. Wealth accrues not to the first but to the monopoly, the company that captures the market, makes consumers forget all others and rides the waves as long as profits pour.
    They are the last. There is no successor coming. That is where the money is made and that is where startups and businesses should strive to be.
    Move slow and be boring?

    Not at all. That isn’t what Thiel’s talking about, that is horrible advice. Just look at the Windows phone or Kodak’s digital camera.
    This isn’t about perfectionism either. Lean startup principles still apply. You want to move fast and probably will break things. But don’t sacrifice the “it” factor it takes to win.
    The iPhone killed the Blackberry because it was 10x better. It wasn’t about rushing a competitor to market, it was about building the perfect enough product to crush the competition and with a innovative moat that got stronger and stronger over time — ie the App Store.
    Steve Jobs succeeded where RIM failed because of his team. They convinced him a 3rd party app store would outperform Apple’s dev team. They were right.
    Today, even against Android, Apple’s App Store keeps people coming back.
    The flywheel moat
    Apple’s first mover advantage, not in the smartphone space but in the 3rd party app store succeeded beyond their wildest imaginations. Developers raced to build apps and businesses around the iPhone and the customer experience got better and better. And with more users came more devs and more apps and a never ending cycle of value creation — the vast majority of which accrued in Apple’s oversea bank accounts.
    This example illustrates what ALL startups should shoot for — an increasingly defensible business model.
    The reason — competitive pressures and customer acquisition costs. Businesses without this defensibility almost always struggle with profit and unit economics. Look at Instacart or Uber, on the surface both great businesses. Dig deeper and you reveal weak foundations.
    Let me explain.
    Uber’s a bit like a house of cards
    No, that isn’t a reference to their management, Kalanick, or the Benchmark lawsuit. It goes deeper.
    Ride sharing is a local business. And with local businesses like this, the local network effects are incredibly strong. Uber spends a bunch to enter a city, onboards drivers, and pays to acquire customers. As more riders and drivers start using the system, it becomes more and more efficient and the unit economics start to make sense.
    This is the reason Uber, Didi, Grab, Lyft and dozens of other ride sharing services raise so much money. It is a land grab and VCs are racing to control their fiefdoms.






    But there is a big problem. Drivers and riders have NO LOYALTY. The reason I use Uber or Lyft or any one of a dozen services is a result of price, availability, and marketing. A better offer from ANY competitor and I’m gone.
    The same is true of drivers. Most Uber and Lyft drivers use two phones and drive for both. Whichever company gets them more business is king (of the day).
    Suddenly Uber’s moat doesn’t look quite so deep. It gets even worse.
    Buying friends
    Every city Uber enters they spend big bucks. But any other ride hailing app can do the same. How does Uber win? They enter cities sooner and outspend the competition. They buy riders and drivers.
    But anyone else can do that too. China challenged Uber and won, forcing them to leave with their tail between th...
    16 min
  • Arlan Hamilton on Raising 1st VC Fund While Homeless to Attack Tech’s White Guy Diversity Problem
    Arlan Hamilton isn’t your typical VC. She’s a smart, scrappy founder and fighter and believes in inclusion and diversity to drive outsized rewards. Her firm Backstage Capital invests in underrepresented founders like herself: people of color, LGBT and anyone SF wouldn’t normally give a fair shake. She’s fiery, she attacks conventions and she’s changing the world of tech while focused on enormous ROIs. Enjoy.
    Listen and Learn:

    * How to raise your 1st VC fund, while being homeless
    * The power of connecting founders with investors
    * What will happen to Silicon Valley’s big boy club
    * Why under-represented founders deliver outsized returns
    * How to be contrarian with your focuses
    * Why grit is the #1 most important factor for founders and investors
    * What investors lack that operators know
    * The massive disparity in venture capital
    * Why Silicon Valley doesn’t have a pipeline problem


    Arlan’s Projects:
    Arlan’s Angellist profile
    Backstage Capital
    Bootstrapped VC podcast
    Arlan’s Twitter: @arlanwashere
    Backstage Capital Twitter: @backstage_cap
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.Arlan Hamilton isn’t your typical VC. She’s a smart, scrappy founder and fighter and believes in inclusion and diversity to drive outsized rewards. Her firm Backstage Capital invests in underrepresented founders like herself: people of color, LGBT and anyone SF wouldn’t normally give a fair shake. She’s fiery, she attacks conventions and she’s changing the world of tech while focused on enormous ROIs. Enjoy.
    Listen and Learn:

    * How to raise your 1st VC fund, while being homeless
    * The power of connecting founders with investors
    * What will happen to Silicon Valley’s big boy club
    * Why under-represented founders deliver outsized returns
    * How to be contrarian with your focuses
    * Why grit is the #1 most important factor for founders and investors
    * What investors lack that operators know
    * The massive disparity in venture capital
    * Why Silicon Valley doesn’t have a pipeline problem


    Arlan’s Projects:
    Arlan’s Angellist profile
    Backstage Capital
    Bootstrapped VC podcast
    Arlan’s Twitter: @arlanwashere
    Backstage Capital Twitter: @backstage_cap
    Are you an accredited investor? Apply to join our angel syndicate if you’d like to access our deal flow.
    48 min
  • The Broken Business of Ecommerce and Why Your Startup Won’t Be The Next Casper
    If you haven’t heard, Amazon won ecommerce. Bezos’ juggernaut is the most powerful marketplace and brand the Western world has ever seen (get my analysis here as an ex 7 figure Amazon seller).
    But it isn’t the only game in town.
    Every year new startups appear, looking to compete and grab their piece of the pie. As an ex-Amazon seller (and host of a top Amazon podcast), I can say for certain that the majority of the action in ecommerce is on the brand side. It gets easier and easier to source and manufacture product and put your label on it.
    These businesses ARE NOT fundable. There is no disruptive innovation, there is no world shattering business or venture scale profits in the pipeline. That is fine.
    But if you are here, you want to go big. You’re an investor or an operator interested in venture scale ecommerce and looking for an edge.
    There are two fundable categories of ecommerce: marketplaces and ecommerce brands. To date, the majority of the money and returns have been via marketplaces. Look no further than Amazon, Ebay and Etsy.
    (NOTE: SaaS/Shopify for ecommerce merchants was not included in these categories as it is a B2B SaaS play.)
    When it comes to marketplaces, I have covered the topic extensive. I will link to these articles here to avoid repeating myself.

    The Cult-Like Religion of ICOs and End of Amazon?
    The 5 Types of Network Effects and How to Hack Them


    Brand’s business models are getting more interesting, lets take a look.
    There are 4 types of disruptive ecommerce businesses:

    Direct to consumer brands
    Subscription companies
    Delivery companies
    Experiential commerce companies

    Let’s look at each of these, their outliers and what the future holds.

    Direct to consumer brands
    Recently, mega companies have been created by disrupting traditional supply chains.
    Brands like Casper, @Harry’s and Warby Parker are leading the way. These direct-to-consumer brands cut out the middlemen by selling online and owning manufacturing to give customers better value for their money. So while consumers save a ton; the brands get to boost their margins (fewer mouths to feed), control their supply chain and build defensibility into their business.
    They all take it a step further as well. The brand becomes the experience.
    Casper delivers a mattress in a box. Then it inflates automatically and ready to use. How cool is that.


    And Harry’s and Warby Parker deliver premium products and a premium experience at pretty affordable price. Their focus on brand keeps consumers coming back because customers love their products. And their NPS and word of mouth work wonders for marketing (Warby Parker — NPS: 91) (Source: NPSBenchmarks.com)
    21 min

About The Syndicate

From the publisher's feed

Welcome to The Syndicate, the place where investors and startups combine to create crazy businesses and even crazier returns. The Syndicate podcast is a deep dive on the angel investors and VCs…