State of early-stage VC, finding PMF, Caroline Ellison testifies & more with Zach Coelius | E1826
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 11 October 2023
⏱️ 71 minutes
🧾️ Download transcript
Summary
This Week in Startups is brought to you by…
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Today’s show:
Zach Coelius joins Jason to discuss the phases of early-stage startups (2:01), break down the state of VC (13:17), answer live questions from the audience (22:36), and much more!
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Time stamps:
(0:00) Zach Coelius joins Jason
(2:01) The three phases of early-stage startups
(10:00) Fount - Get $500 off an executive health coach at https://fount.bio/twist
(11:31) Advantages that Builder/Founder startups possess
(13:17) The state of VC: The LP and GP relationship, post-ZIRP, and startup soft landings
(21:10) Coda - Get a $1,000 startup credit at https://coda.io/twist
(22:36) Question: How do you describe PMF in the simplest terms possible
(29:20) Question: How hard is it for first-time founders to raise pre-seed?
(39:46) Miro - Sign up for a free account at https://miro.com/startups
(41:11) Question: I will be in the Bay Area for two weeks… any advice on how to efficiently meet VCs to pitch my startup?
(45:56) Question: What are attributes of companies that are getting funded today? More stable and breakeven? Different industries? What is working today?
(54:49) Breaking news: Caroline Ellison, CEO of Alameda Research testifies for first time today in SBF’s trial
(1:01:49) Cruise robotaxi fleet deployed in San Francisco
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Follow Zach: https://twitter.com/zachcoelius
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Read LAUNCH Fund 4 Deal Memo: https://www.launch.co/four
Apply for Funding: https://www.launch.co/apply
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | You got a space, you got customers walking by, |
| 0:03.2 | you start with a sandwich shop. |
| 0:04.4 | Yeah, you know, nobody really liked your sandwiches, |
| 0:06.8 | but everybody talks about the ice cream sundae at the end. |
| 0:10.1 | And it's just because you made some really unique sundae |
| 0:12.5 | and then people start coming in just for the sundae. |
| 0:14.7 | You know, I want to say I'm much like, |
| 0:15.7 | no, just I'm gonna go right for the sundae |
| 0:16.9 | and I brought my kid with me. |
| 0:18.2 | Oh, and I brought my coworker. |
| 0:20.1 | So wow, what's unique about this sundae here? |
| 0:22.5 | Okay, let's put three sundays on |
| 0:24.1 | and let's change the name advice from, |
| 0:25.8 | you know, Zach and Jason Sandwichop |
| 0:27.6 | to Zach and Jason's sundays. |
| 0:30.3 | And then all of a sudden, you just like minor pivot |
| 0:32.4 | just based on the feedback |
| 0:34.1 | and now you're running a sundae shop. |
| 0:35.7 | Now, if you were the investor and you got sold on, |
| 0:38.4 | hey, this is the best brisket sandwich you could ever have. |
| 0:41.2 | This is the best, you know, Rubin in the world. |
| 0:45.4 | And you come back and say, |
... |
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