Negative Venture Returns, GM Kneecaps Cruise, and Finix joins the TWiST500 | E2059
This Week in Startups
Jason Calacanis
4.4 • 1.3K Ratings
🗓️ 12 December 2024
⏱️ 66 minutes
🧾️ Download transcript
Summary
This Week in Startups is brought to you by…
OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at https://www.openphone.com/twist
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CLA. Innovation takes balance. CLA's CPAs, consultants, and wealth advisors can help you get from startup to where you want to end up. Get started now at https://www.CLAconnect.com/tech
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Todays show:
Alex Wilhelm joins Jason to discuss the reporting that Tiger Global's 2021-era fund is not only posting poor results, it's lagging peers from the same timeframe. Then, the pair also interview Suvir Wadhwa, founder and CEO of Flite, a former Launch accelerator company, and dug into the Cruise-GM news along with a peek at the next head of the FTC.
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Timestamps:
(0:00) Jason and Alex kick off the show
(2:19) Tiger Global's investment strategy and performance
(5:49) Challenges of quick capital deployment and market timing
(10:13) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist
(11:15) Impact of losing key investors or advisors on startups
(12:24) Public market trends affecting private investments
(16:09) Market downturns' effects on startups and investors
(20:05) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist
(21:16) Political influences on market and technology sectors
(29:32) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech (31:10) Trump administration's business policies and immigration
(38:20) Changes in the FTC leadership and impacts on startups
(41:40) Finix's addition to the TWiST500
(44:53) GM's scale-back on Cruise and future implications
(51:25) Self-driving technology's impact on car ownership
(52:39) Flite's Suvir Wadhwa joins the show
(54:18) Flite's business model, AI benefits, and market reach
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Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
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Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
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Mentioned on the show:
Check out Flite: https://www.flite.city/
Check out the TWiST500: https://www.twist500.com/
Check out Tiger Global: https://www.tigerglobal.com/
Check out E1207: How Tiger Global is outpacing VC with fast, cheap capital ft. Founders Fund’s Everett Randle: https://www.youtube.com/watch?v=koDKxjHe_Kk
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Follow Suvir:
LinkedIn: https://www.linkedin.com/in/suvirwadhwa/
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Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm
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Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
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Thank you to our partners:
(10:13) OpenPhone - Get 20% off your first six months at https://www.openphone.com/twist
(20:05) Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist
(29:32) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech
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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
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Check out Jason’s suite of newsletters: https://substack.com/@calacanis
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Follow TWiST:
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
Substack: https://twistartups.substack.com
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Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Transcript
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| 0:00.0 | A portion of it is the regime change in Washington, and a portion of it is there's a lot of buyers. |
| 0:05.9 | And there's a lot of buyers. They set a new top. They drive prices up. And so if you're like Tiger, |
| 0:11.6 | and you offer, you compete to beat the entire venture community to put money into a SaaS company |
| 0:17.9 | before it goes public, let's say it was Asana or HubSpot. I think those were public |
| 0:21.8 | already. But that was the kind of businesses they were interested in, the Zendesk, SaaS kind of |
| 0:26.7 | companies. If they were pursuing that and they wanted to beat everybody at the table, those people |
| 0:31.0 | have to deploy capital as well. So they keep top ticking the market. They keep pushing it up. |
| 0:35.6 | Their bid is going to be higher than everybody else is |
| 0:38.0 | because they want to win. They want it to deploy the capital. Remember, they're getting 1.5%, |
| 0:41.4 | 2.5%. Who knows what their fees are on $12 billion. That's so much money. It means a quarter billion |
| 0:47.7 | a year in fees. I mean, if it was 1%, it would be $125 million a year, a year. |
| 0:54.4 | This weekend startups is brought to you by OpenFone. |
| 0:58.1 | Create business phone numbers for you and your team that work through an app on your smartphone or desktop. |
| 1:03.0 | Quiz listeners can get an extra 20% off any plan for your first six months at openphone.com slash twist. |
| 1:09.9 | Vanta. |
| 1:10.7 | Compliance and security shouldn't be a deal breaker for |
| 1:13.2 | startups to win new business. Vanta makes it easy for companies to get a sock to report fast. |
| 1:19.0 | Twist listeners can get $1,000 off for limited time at vanta.com slash twist. And CLA, innovation takes |
| 1:27.1 | balance. CLA's CPAs, consultants, and wealth advisors can help |
| 1:31.3 | you get from startup to where you want to end up. Get started now at cLA connect.com slash tech. |
| 1:37.5 | Hey, everybody. Welcome to This Week in Startups. I'm your host, Jason Calacanis, with my co-host, Alex Wilhelm. |
| 1:42.9 | We've got a pack show for you today, |
... |
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