This Week in Startups

Frank is the Chairman & CEO of Snowflake, a data warehousing company he joined and rapidly accelerated in 2019. Frank led Snowflake to the largest software IPO in history (his third massive IPO as CEO). Previously, he grew Data Domain from $0 in revenue in 2003 to a ~$776M IPO in 2007 and then grew ServiceNow to a $22B market cap. In this episode you will learn the principles Frank uses to achieve outlier outcomes. Attracting and cultivating performing talent. Getting the wrong people off the bus fast is critical. Frank prefers "drivers" to "passengers." Without risk-taking, the business will stagnate. Left to their own devices things slow to a "glacial pace." CEOs should push to find the true limits of the organization. Intellectual honesty is required. Copy-pasting strategy from previous roles is unacceptable. You need to develop deep conviction, while maintaining humility to course correct when you are wrong. Culture and reputation are defined by your actions. CEOs must maintain an incredibly high bar. Show Notes: (00:00) Jason intros the interview (01:44) Why Frank decided to write the book (order here: https://ampitupbook.com/)  (05:30) Why "all great products start with great architecture" (09:49) Intellectual honesty is integral to diagnosing problems (11:38) Marketerhire - Get $500 off your first hire at https://MarketerHire.com/twist (13:09) Taking over and increasing the talent density on a team (15:54) Why most organizations avoid confronting and correcting mistakes  (23:23) Fellow - Sign up and get $1000 in credits at https://fellow.app/twist (24:50) Managing intensity (25:39) How hiring top talent leads to victory (the definition of victory is breaking the enemy's will to fight) (28:19) Relationships and reputations are defined in the hard times by taking ownership (31:47) Taking risks is essential to success in business (32:53) Keep high standards, people pitching need to be bursting with excitement (35:42) FanDuel Sportsbook - Sign up with promo code TWIST to place a special $1000 risk-free bet at https://fanduel.com (37:32) Drivers vs. passengers, getting the right people on the bus (40:38) Organizations should be governed on influence, people need to go direct (43:30) Why Frank is still optimistic about America and entrepreneurship (48:39) Things cannot be all about you as CEO, the organization needs to be empowered to be accountable (51:22) The difference between people that start things and the people that run things (54:17) Intellectual honesty is the bedrock of being a great operator (57:37) Increasing velocity by narrowing scope (1:00:55) Being mission-driven by "Starting with Why" (1:02:34) Most people don't lean in enough when managing the growth model of the business (1:06:57) Setting big goals (1:07:53) Ubiquitous win-win deals are not possible Buy Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity: https://ampitupbook.com/ FOLLOW Frank: https://www.linkedin.com/in/frankslootman/ FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

First, Jason covers the how Signal messages led to the Oath Keeper sedition indictments (1:47) and how Google, Facebook, Reddit, and Twitter are being subpoenaed by the House committee investigating Jan 6th, 2021 (15:32). Then Producer Rachel has an "OK Boomer" segment where she talks with Alex Masmej a French entrepreneur about his experience raising $20K from selling a personal token, $ALEX (27:10). (00:00) Jason intros the show (01:47) The FBI arrested 11 members of the Oath Keepers on sedition charges (09:25) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist (10:49) Jason's take on Jan 6th (15:32) House Committee subpoenas YouTube, Meta, Reddit and Twitter (19:59) Indochino - Get $50 off any purchase of $399 or more by using code TWIST at checkout https://indochino.com (21:49) Jason introduces the OK Boomer Segment (24:46) Interested in building a startup? Enroll at https://course.founder.university (27:10) Rachel chats with Alex Masmej (29:43) Bubble. Get one month free of a no-code plan at https://bubble.io/twist (31:18) How Alex launched his social token (35:32) How Alex shares his financial information with his token holders (46:02) The future of NFTs FOLLOW Alex: https://twitter.com/AlexMasmej FOLLOW Rachel: https://twitter.com/_rachelbraun FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

First Jason covers the recent college enrollment decline (1:23) and lay out his alternative (9:56). Then Zach Coelius joins for an Ask an Angel session, where they answer 12 audience questions about investing and startups (20:37). (00:00) Jason intros the show (01:23) There are 1 million fewer college students in the U.S. compared to pre-pandemic levels (08:57) Dataiku - Create transparent, repeatable, and scalable AI and analytics programs. Visit https://dataiku.com to learn more. (09:56) Jason's college alternative (17:51) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist (19:03) Ask an Angel welcoming Zach Coelius to the show (20:37) What is the definition of an outlier success in VC? (29:56) Are investors okay with founders that use no-code software like Bubble as an MVP? (32:43) Fiverr - Sign up for https://Fiverr.com/Business free for the first year and save 10% on your purchase with promo code JASON (34:16) How does a seasoned investor deal with a founder who is headed in the wrong direction? (39:49) Common pitch failures? (43:23) When should you go for top line versus bottom line? (49:14) Would VC funds do better with individuals instead of institutions? (53:31) What industries Zach and Jason would like to see disrupted (1:03:03) How much of an impact does bad reputation have on investing? (1:04:22) What makes a good Board Meeting? (1:08:02) As a VC, is it better to stay off the board from a liability standpoint? (1:10:55) What is too expensive at the seed stage? Check out Coelius Capital: https://coelius.vc/ FOLLOW Zach: https://twitter.com/zachcoelius FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

First we talk about how the top streaming platforms projected to spend $140B on content in 2022 (2:18) and Elizabeth Warren’s bad take on grocery stores. Then Mac Conwell "Mac the VC" joins the show as the first guest for Angel Season 6 (49:29) to share his story and how he invests.  (00:00) Jason and Molly intro the show (02:18) HBO to spend $18B on streaming in 2022, how does it stack up? (10:39) Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist (11:58) Streaming history and Disney's massive growth (20:52) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist (22:09) Elizabeth Warren's attack on big grocery (31:450 Thinking about who might be a good fit on the TWIST team (36:13) Intro to Angel S6 (37:10) LinkedIn Jobs - Go to https://linkedIn.com/angel and post your first job for free. (38:40) Interview Mac the VC (49:29) How Mac went about raising his fund (58:49) Why Rolling Fund's aren't always LP friendly (1:04:07) The unfortunate catalysts for Mac's venture career (1:13:45) Investor update best practices (1:18:07) Founder-investor match (1:20:30) Responding to a provocative tweet Check out RareBreed: https://www.rarebreed.vc/ FOLLOW Mac: https://twitter.com/MacConwell FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

First Jason and Molly discuss YC's new $500K deal for startups and what that means for founders and early stage investors (1:53). They also dig into car-sharing app Turo's S-1 (25:32). Then Redfin Co-founder and current Deep Sentinel CEO Dave Selinger joins to discuss how his company blends human monitors and AI-enabled cameras to deliver an unmatched security camera experience (38:25). (00:00) Jason & Molly intro the show (01:53) Y Combinator's new $500K deal (09:41) Eight Sleep - Go to https://eightsleep.com/twist to check out the Pod Pro Cover and get $150 off at checkout! (11:14) Early-stage startup investing strategy (19:46) How does YC's move impact the startup landscape (22:57) Is an IPO an Exit? (24:15) Vanta - Get get $1,000 off automating your SOC 2 at https://vanta.com/twist (25:32) Turo S-1 breakdown (36:56) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist (38:25) Interview - Deep Sentinel Founder & CEO Dave Selinger (44:52) Deep Sentinel in action (54:24) The power of finding your ideal customer (1:01:33) Potential new features and Deep Sentinel product roadmap (1:07:53) Jason's Deep Sentinel experience (1:15:33) Deep Sentinel semi-supervised learning inspired by Tesla Check out Deep Sentinel: https://www.deepsentinel.com FOLLOW Dave: https://twitter.com/daveselinger FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

We cover the tech stock pullback (1:34), discuss the impact of the SEC exploring more restrictions and disclosures for late stage private companies (12:00) and share details about Apple’s mixed reality headset are leaking (37:07). We wrap with a new segment... over/under(45:11)! 00:00 Molly intros the show 01:34 Tech stock pullback amid rate-hike concerns 10:48 Marketerhire - Get $500 off your first hire at https://MarketerHire.com/twist 12:00 The SEC in considering increasing private investing regualtion 21:17 FanDuel Sportsbook - Sign up with promo code TWIST to place a special $1000 risk-free bet at https://fanduel.com 23:02 What is the end game for accredited investor regulations? 35:32 Fellow - Sign up and get $1000 in credits at https://fellow.app/twist 37:07 Apple VR Headset 45:11 Over/under for when Tim Cook retires 51:34 Over/under for when VR is set replace iPhone FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

Welcome to our new Sunday show. Each episode will have two segments, Sunday VC School and Climate startups. First, Jason and Molly discuss early-stage investing including, Jason's valuation vs. traction matrix (1:44) and developing a BS detector (23:03). Then Jason introduces Molly's new climate segment (27:15) and then Molly interviews New Energy Nexus CEO Danny Kennedy (33:38). They discuss what Danny looks for in clean energy investments(37:03)  and more! Valuation vs. Traction Matrix: https://calacanis.com/2019/03/30/the-valuation-vs-traction-matrix (00:00) Jason intros the show (01:44) Sunday VC School - Assessing a minimum viable product (04:24) Valuation vs. Traction Matrix - https://calacanis.com/2019/03/30/the-valuation-vs-traction-matrix (12:04) Odoo - Get your first app free and a $1000 credit at https://odoo.com/twist (13:17) Getting a good price for a reasonable traction (21:39) Superside - Go to https://superside.com/twist to get $3000 or more in credits when you sign up for an annual subscription (23:03) Why VCs need to trust their BS detector (27:15) Jason and Molly introduce Molly's new climate segment (31:40) Notion - Go to https://Notion.so and use promo code TWIST to get $250 off its annual team plan (33:38) Molly interviews Danny Kennedy, New Energy Nexus CEO (37:03) What Danny looks for in clean energy investments (44:13) What holds people back from investing in climate tech startups (55:46) Hardware vs. software for climate investing Check out New Energy Nexus: https://www.newenergynexus.com FOLLOW Danny: https://twitter.com/dannyksfun FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

Jason and Molly cover how 15% of the world’s bitcoin mining network going down when Kazakhstan’s internet was shut off (3:11) and Chainalysis' scam report (12:32). Then they do a "We Live in the Future" segment about AI created actors (16:49) and “Memes of the Week” review of Marc Andreessen's tweets (25:32). Finally, Producer Rachel wraps with an "OK Boomer" interview with YouTube creator and software engineer Ben Awad (38:43).  (00:00) Jason and Molly intro the show (01:15) A special welcome video for Molly (03:11) Kazakhstan crypto (10:42) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist (12:32) Chainalysis 2021 Crypto Crime Report (16:49) WLITF Synthesia replacing cameras with code (21:06) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist (22:26) Possibilities for AI deepfakes (25:32) Memes of the Week - Marc Andreessen (34:18) OK Boomer - Producer Rachel introduces the guest (37:12) Revelo - Get 20% off the first 3 months by mentioning TWIST at https://revelo.io/twist (38:43) Ben Awad Gen Z Programming Mentor FOLLOW Ben: https://twitter.com/benawad FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

00:00 Jason & Molly intro the show 02:25 GETTR get a bump in downloads after Joe Rogan joins 09:55 Dataiku - Create transparent, repeatable, and scalable AI and analytics programs. Visit https://dataiku.com to learn more. 11:00 The darker side of community on the internet 15:54 Jason's take on decentralized social media 18:38 Eight Sleep - Go to https://eightsleep.com/twist to check out the Pod Pro Cover and get $150 off at checkout! 20:11 The challenges of content moderation on social media 21:13 NYT reportedly buying The Athletic for $550M 30:30 Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST 32:15 Interview - Jeff "Jiho" Zirlin from Axie Infinity 40:11 How "play to earn" games actually work 53:33 How do balance stakeholders in the in-game economy 58:05 Renting Axies and how "guilds" work 1:03:42 Buying digital land Check out Axie Infinity: https://www.axieinfinity.com FOLLOW Jiho: https://twitter.com/jihoz_axie FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood

In this all news show,  Jason and Molly cover Toyota & Volkswagen committing a combined $170B to take on Tesla’s EV dominance (2:30), NFT platform OpenSea raising a $300M Series C at a $13.3B valuation (20:08), China’s tight grip on tech causing job loss and accelerating company closure (44:50), and how Ben Smith from the NYT is teaming up with Bloomberg Media’s CEO to launch a new media company (56:52). (00:00) Molly tees up the show (02:30) Toyota and Volkswagen pledge $170B to compete with Tesla (09:16) RealGoodFoods - Go to https://realgoodfoods.com and use code TWIST for $15 off! (10:49) Power of Tesla’s supercharging network, why Apple should have bought Tesla (18:55) Marlow - Get 15% off your individual or team memberships at https://getmarlow.com/twist. (20:08) OpenSea just raised $300M at a $13.3B valuation (36:03) Linode - Apply to their Rise program for founder-led, early-stage startups and get 3 years of discounts at https://linode.com/twist. (37:18) Jason teases his first NFT purchase (44:50) China’s tech crackdown is causing issues (56:52) Former CEO of Bloomberg Media is starting a new stealth media company FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood