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On The Tape

Okay, Computer 11/9/22: Dumb Like Us with Rick Heitzmann & A Conversation with Groundswell’s Jake Wood & Human Ventures’ Joe Marchese

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6757 Ratings

🗓️ 9 November 2022

⏱️ 79 minutes

🧾️ Download transcript

Summary

Dan and FirstMark Capital’s Rick Heitzmann discuss how the results of the midterm elections may impact the markets and regulation (1:00), intensifying layoffs in the tech industry (3:45), Binance’s shock move to buy FTX sparking new fears and volatility in crypto (11:00), why Rick is bullish on “pick-and-shovel” startups (17:15), Elon Musk’s chaotic handling of Twitter so far (20:45), Tesla shareholders feeling the pinch from Musk’s Twitter mess (23:15), and if it’s the beginning of the end-game for the market slump (32:45).   Later, Dan talks with Jake Wood, Groundswell’s founder and CEO & Team Rubicon’s co-founder and Executive Chairman, along with Joe Marchese, Build Partner at Human Ventures, about what drove Jake to enlist in the Marine Corps (41:00), how 2010’s devastating earthquake in Haiti led to the creation of Team Rubicon (45:30), the importance of giving veterans purpose after military service (48:30), starting Groundswell and the growth of Philanthropy-as-a-Service (57:30), the “founder’s journey” during the COVID-era (1:09:00), navigating privacy protections in philanthropy (1:11:30), and how inflation and recession fears are impacting philanthropy and charitable giving (1:16:00). ---- Check out Groundswell’s work Make a donation to Team Rubicon ---- View our show notes and transcript here ---- Email us at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OkayComputerPod. We’re on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0

All right, welcome to O-K Computer. I am Dan Nathan. I am joined by Rick Heitzman, the founder and CEO of First Mark Capital. Hi, Rick.

0:08.6

Hey, Dan. How are you? I'm good. We are in studio here. And we are on Election Eve. It is Tuesday afternoon. We have a ton of stuff to talk about today. Okay, there's tons of stuff going on. Public markets, crypto, private markets,

0:21.3

a whole host of things here. I have a great conversation with Jake Wood, the CEO founder of

0:27.0

Groundswell, also the founder of Team Rubicon, which is an amazing organization. We're going to talk

0:31.8

all about that with Joe Markezi, the build partner at Human Ventures. Okay, so stick around.

0:37.6

That's coming up after Rick and I go through just, we're going to go through a lot here,

0:42.0

people.

0:42.3

We're going to talk about Elon, Twitter, Tesla, the interrelations of that.

0:46.2

We're going to talk about SBF, FTX, Binance, BTC, the whole shebang.

0:52.7

But Rick, here we are. By the time our listener is taking

0:56.3

all this beautiful content in, there's going to be a pretty clear indication of how the

1:00.6

midterm elections went, okay? And obviously, a lot of people feel like the Dems are going

1:04.7

to lose the House and the Senate. It's not that weird of occurrence in a midterm election,

1:08.6

first term president. I'm just curious, let's

1:10.9

assume that that does happen. There's a lot of data that suggests in public markets that

1:16.5

that's good for the stock market. People like divided government. How is that played out in your

1:21.9

20 plus years as a VC? What does it do for private markets? I think it's the same for both the public markets and

1:29.3

private markets that divided House, divided executive branch and legislative branch means not much

1:35.7

gets done. And as we know, and as we saw the opposite in the world of Trump, that having

1:41.2

rules of the road and having some consistency and knowing what's going to happen

1:45.8

matters a lot.

1:46.8

So knowing that not much is going to happen, and you're pretty certain of that, provides at

...

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