Tank Talks By Ripple Ventures

Today’s incredible guest is Nikhil Basu Trivedi, an investor who has been on the leading edge of investing in dozens of startups just before they become the next big thing. His portfolio includes Canva, Hinge, DoctoronDemand and many more. We asked Nikhil about what sort of data points he looks for when analyzing markets, in order to time the next big thing perfectly for investment; and we dig into some of the biggest lessons he’s learned in the process.About Nikhil:Nikhil Basu Trivedi is Co-Founder and General Partner of Footwork, an early-stage VC firm focused on consumer technology and the consumerization of enterprise technology. Previously, he was Managing Director of Shasta Ventures and an investor with Insight Venture Partners. He graduated from Princeton University with a degree in molecular biology and finance.He writes at nbt.substack.comA message from our sponsor:Now more than ever, entrepreneurs need committed partners to help them navigate the hardest pain points of scaling a technology business. Created by one of Canada’s largest banks, RBCx is re-imagining what it means to create meaningful and impactful technology companies in Canada.RBCx – the tech banking arm of the Royal Bank of Canada - is a full-service platform that accelerates the entrepreneurial journey at every stage of growth – providing access to a complete suite of capital solutions, innovative products and services, and operational expertise to help technology companies scale.Sid Paquette – former Managing Partner at OMERS Ventures, is leading the group and has recruited a bunch of new faces to the bank from the Venture and Tech industry. Tony Barkett and Tyler Kirk – two former Silicon Valley Bank leaders in addition to Nicole Kelly and Anthony Mouchantaf have also joined Sid from OMERS Ventures.RBCx has been incredibly active since their launch in June as an LP, and have already backed some of Canada’s most notable VC funds including Golden, Amplitude, Version One and Lumira Ventures. To learn more about RBCx visit www.rbcx.com or follow them on Twitter or Linkedin.In this episode we discuss:03:38 How does Nikhil define the “next big thing”04:48 The biggest lesson Nikhil has learned07:18 How to think about timing when to step in10:05 The NFT wave and opening up of new opportunities12:53 How to think about potential sizes of investment16:57 Staying grounded in reality rather than being driven by hype19:09 What Nikhil looks for in founders20:36 Analyzing product market fit24:59 Viewing competitors in the early-stage market27:14 Enterprise trends post-pandemic that Nikhil is excited about29:50 Thoughts on clean tech/ deep tech32:34 Staying a generalist when investing35:54 What to look for from Footwork VCFast FavoritesPodcastsThe All In PodcastNewsletter/BlogNot Boring by Packy McCormickTech GadgetAirPodsNew TrendFounders working on climate related solutionsBookLeading: Learning from Life and My Years at Manchester United by Alex Ferguson and Michael MoritzFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Since the onset of the pandemic, everyone became a day trader overnight, whether it was Robinhood day traders trading options in Tesla or Wall Street investors betting in meme stocks like Gamestop. On today’s show we ask Tobias why he thinks building a content creation platform for day traders is what people really want, how Trading.TV plans to integrate with other platforms who trade in stocks, crypto and other alternative assets, and more!About Tobias:Tobias Heaslip is founder and CEO of Trading.TV, a social livestream platform for traders and financial content creators. Previously, he was director of Technology, Media and Telecom trading at Barclays Investment Bank, Equity Trader at Och-Ziff Capital Management and Analyst at Morgan Stanley. In this episode we discuss:02:00 Tobias’ personal background and why he founded Trading.TV03:25 Tracking financial markets on social media06:04 Competing with different online platforms08:13 Why we need a new trading platform09:04 What kind of content is on Trading.TV09:58 Managing the costs of content creation11:42 Verifying users on the platform15:23 Incentivizing content creators on the platform16:48 Promotional content on financial TV18:17 Short form content for financial advice20:40 Integrations with other platforms21:35 Getting away from the liability of offering financial advice23:55 How to make different asset classes digestible30:20 Creating an inclusive and diverse community32:12 What to expect from Trading.TVFast FavoritesPodcastsGroup ChatNewsletter/BlogThe HustleTech GadgetiPhoneNew TrendNFTsBookHarry PotterFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Funding a new business to fuel growth can be done through some form of debt financing or equity funding. Venture debt is a little different from traditional debt financing and in 2020, VC-backed companies in the US alone received debt financing of more than $25B. On today’s show, we talk about when founders should consider debt financing, the ways in which startups should think about raising debt vs. equity in the early stages, and why it's important to never use short-term debt to fund long-term solutions.About Shez:Shez Samji is Managing Director and Head of Business Development at Silicon Valley Bank Canada. Previously, he was VP of Investments at Third Eye Capital, Analyst at AHF Capital Partners and Associate at BMO Capital Partners. He graduated from York University’s Schulich School of Business with a degree in Finance and Accounting.In this episode we discuss:02:07 The pros and cons of for startups to consider when looking at different funding options05:11 Debt financing after a seed/ Series A round06:53 Why SVB cares about equity09:17 Bank debt vs venture capital debt12:12 Avoiding short-term debt as a long-term solution13:26 Questions startups should ask themselves when considering debt financing15:08 Next steps for startups looking for financing16:56 Red flags to look for in loan clauses21:20 Picking between the options23:40 How founders should think about “repayment”25:03 Costs and benefits associated with credit28:33 Differences between venture financing and more conventional methods of lending32:43 Benefits of working with a bank focused on startup financing34:12 What Shez is excited about for the future of the marketFast FavoritesPodcastsThe All In PodcastNewsletter/BlogBloombergTech GadgetiPhoneNew TrendCanada’s VC environmentBookThe Most Important Thing by Howard MarksFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

The petcare industry is a $100 billion dollar market, with about 2/3rds of US households owning a pet. Recently, consumers have started spending more on their pet’s health and well-being. On today’s show, we ask Marc about the petcare’s industry transition to healthtech, the effects the pandemic has had on pet adoption and ownership, and how startups like Pawp are helping owners take back control of their pet’s data.About Marc AtiyehMarc Atiyeh is the founder/CEO of Pawp, a digital health clinic that provides unlimited access to licensed vets 24/7 & a $3,000/year pet emergency fund. Previously, he served as the CSO of Clarity Money (Acquired by Goldman Sachs) and  was the Head of Growth at Paribus (acquired by Capital One.) He graduated from Harvard with a degree in Electrical and Computer Engineering.In this episode we discuss:01:58 How has PetTech evolved since the inception of the industry03:53 Why has it been so slow to adopt technology06:04 Financial and informational inefficiencies in the veterinary space10:07 The replacement value of PetTech12:48 Marc’s ground-up approach to building a pet startup15:59 Why did it take so long for telehealth to enter the market20:09 Closing the gap between prescriptions and telemedicine24:11 Defending against larger retailers30:39 How Pawp differentiates itself from its competitors38:43 The impact of COVID on pet demand (COVID puppies) and how it affected the industry44:28 Fundraising for Pawp Series A Fast FavoritesPodcastThe Pomp PodcastNewsletter/BlogMorning BrewTech GadgetWHOOPNew TrendPeople drinking less alcoholBookCrossing the Chasm by Geoffrey MooreFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

As everyone quickly realized during the pandemic, remote work and distributed teams are here to stay. How should startups think about managing their global payments? On today’s show, we ask Dileep about the issues with multiple payment rails, bringing on independent contractors as full-time employees, and setting up local and global entities with various forms of credit.About DileepDileep is the co-founder and CEO of Jeeves, a company that provides financial infrastructure for global startups. Previously, he was Co-Founder & COO at Jeeng/PowerInbox and M&A Strategy consultant at Deloitte Consulting. He graduated with an MBA from Stanford, and was part of the YC Summer Class of 20. In this episode we discuss:02:22 What the distributed workforce market looked like prior to COVID-1904:33 How COVID changed the global infrastructure stack06:16 How startups have dealt with hiring remote workers07:14 Other challenges startups face when paying in local currencies10:03 Navigating the input-output flow of currencies11:43 Why most fintechs tend to focus on a single country13:36 How Jeeves is thinking about the future of multi-faceted payments14:22 The democratization of single payments across the world15:53 Suggestions for founders regarding international payroll/ HR risks18:06 Advice from Dileep as a founder20:37 Should international employees be hired as independent contractors?22:29 Over-correcting for success23:36 Covering third party costs for remote teams25:44 How should a founder think about hidden/unseen costs in the global market?27:57 Annual losses to global transaction costs, and why there has not been a solution before31:09 How non-US entities can benefit from working with Jeeves33:34 Jeeves’ funding history36:08 Taking on additional debt37:01 The future of Jeeves in terms of new markets/product offeringsFast FavoritesPodcastThe DailyNewsletter/BlogPro Football TalkTech GadgetPortable SpeakersNew TrendMeme StocksBookThe Undercover Economist  by Tim HarfordFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

The construction industry is estimated to be over $2.5 trillion and growing in the United States, yet the industry has been especially slow at adopting newer technology solutions. Ron Goldschmidt joins us to share his thoughts on how construction companies can adapt to our remote reality, and why they have been resistant to change in the first place.About RonRon Goldschmidt co-founded Briq, a fintech company for the construction industry, in 2018 and has been Chief revenue Officer since 2020. Prior to this, he worked on Wall Street as Head of Emerging Markets at RBC Capital Markets and as Executive Director at UBS. He graduated from the Ivey Business School at Western University with an honors in Business Administration. In this episode we discuss:02:14 Why has the construction industry failed to invest in newer productivity tools?04:17 What sort of efficiencies are being deployed in the industry today?07:43 How has management successfully changed in the construction industry?12:12 How Briq is dealing with legacy APIs in the construction industry15:54 Technological innovations like electronic invoicing and data solutions18:23 The role of AI and ML in the construction industry22:00 The labor shortage in the construction industry24:53 Carve-outs for construction in the infrastructure bill27:09 How inflation plays into budgeting and supply/material forecasting30:06 How Briq approaches these budgeting challenges34:15 Briq’s Series B funding round with Tiger GlobalFast FavoritesPodcastsThe Portal with Eric WeinsteinNewsletter/BlogKnowledge Traction by Pascal UngerTech GadgetPortable Massager/ TheragunNew TrendVertical FintechBookA Land So Strange: The Epic Journey of Cabeza de Vaca by Andrés ReséndezStart with Why: How Great Leaders Inspire Everyone to Take Action by Simon SinekFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In the United States, the average household spends around $4200 a year on energy costs. How can we reduce this burden by building more efficient homes? We ask Manuel about how PowerX is helping consumers save costs and resources, how he attracted investments from the likes of Tesla and YCombinator, and more on today’s episode. About ManuelManuel Schoenfeld has been the founding CEO of PowerX since 2019. He was previously a project manager at McKinsey, and consultant at the World Bank, where he advised on innovative energy solutions.  He was a McCloy Scholar at Harvard University, a Van Beek Scholar at the Wharton Business School, and graduated from the Rotterdam School of Management with the highest grade average in history.In this episode we discuss:03:45 The problem with the continued use of energy inefficient resources05:57 The importance of more information07:44 Legislation and energy conservation09:41 Cost and financial incentives making change easier10:58 Why haven’t builders adapted to building energy efficient homes from scratch12:22 Push and pull strategies between customers and builders13:12 When the US could become net zero 15:58 How the pandemic has affected this problem19:33 The origins and the mission of PowerX23:59 How PowerX is keeping costs low30:37 The recommendation algorithm of PowerX33:34 PowerX’s Kickstarter campaign35:28 Plans for growth over the next yearFast FavoritesPodcastsResidential Tech TalksNewsletter/BlogFortune Term SheetCleanTechnicaTech GadgetBB8New TrendAnything in the climate change arenaPutting value on human relationships and physical interaction post-COVIDBookBooks on Quantum PhysicsFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Treasury departments are full of business-critical activities, but still have manual interventions. In a world gone remote, how have platforms like FinLync dealt with supply chain issues and real-time payments? All this and more, on today’s episode with Phillip Klein.About PhillipPhillip Ashley Klein is CEO and Co-founder of FinLync, a global fintech company. He was previously a management consultant at Deloitte London, a derivatives and structured products trader at Morgan Stanley and a treasury trader at Citi London. He graduated from Loughborough University with a bachelor’s degree in Management, Finance & Economics.In this episode we discuss:01:38 What corporate treasury departments do03:14 Manual errors in corporate treasury operations06:35 How financial risks have changed since the pandemic and how FinLync dealt with them11:01 FinLync’s real-time payment infrastructure13:02 Risks associated with real-time payments15:25 FinLync’s integration with SAP/ERP systems18:15 Advice for startups considering integrations19:51 FinLync’s partnerships with global banks21:57 Defense against exclusivity demands for startups24:41 Overcoming budget pushbacks in a slower industry26:57 How startups should think about building their treasury systems29:33 Advice for founders in a remote work environment and global culture32:25 FinLync’s recent equity funding roundFast FavoritesPodcastsHow I Built This with Guy RazNewsletter/BlogAbundance Insider by Peter DiamandisTech GadgetiPhoneNew TrendBoxingBookSteve Jobs by Walter IsaacsonFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Paul Martino is truly a pioneer in the world of social networking. His early online gaming innovations from over 30 years ago are the inspiration for several of the modern social gaming offerings, and he holds over a dozen patents on core social networking concepts, content targeting, and recommendation systems. In this episode, we chat with him about his experience in finding product-market fit and keeping up with ever-changing market trends.About Paul:Paul Martino is an entrepreneur and investor, interested in the intersection of sports, gaming, gambling, and technology. He is co-founder of Bullpen Capital and has founded seven other companies, including Ahpah Software (a computer security firm); Tribe (one of the world’s first social networks), and Aggregate Knowledge (a big data advertising attribution company).  His latest endeavor, Bankroll, is building a next-generation sports betting-focused elevated dining restaurant in his hometown of Philadelphia.In this episode we discuss:03:05 What exactly is product market fit?04:05 Is it more important to focus on people, product or market when starting out?09:36 How should people think about finding new markets?11:55 The importance of iteration speed when finding product market fits17:57 What should founders ask themselves to find out if they have product market fit?21:20 Testing whether you have product market fit23:11 Are NPS scores valuable?24:55 What are some misconceptions founders should be aware of?30:50 How do founders avoid premature scaling?32:28 Advice for hiring when you find product market fit34:48 Bullpen’s plan to continue helping firms find product market fitFast FavoritesPodcastsWhistleblowerNewsletter/BlogMatt Ocko’s Data CollectiveNew TrendDemocratization of access to capitalBookThe Burden of Bad Ideas by Heather Mac DonaldFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Today, we’re revisiting an episode with the unbreakable John Ruffolo, recorded during the pandemic last year. Since then, John has suffered a cycling accident, made an incredible recovery, and launched a $500M growth stage equity fund, Maverix PE. For Canada Day, we’re chatting with this maverick about nurturing the next generation of tech and VC entrepreneurs.About JohnJohn Ruffolo is Founder & former CEO of OMERS Ventures and Co-Founder & Vice Chair of the Council of Canadian Innovators. He started the Ontario Municipal Workers Pension Funds Venture arm in 2011, and has been instrumental in helping develop some of Canada’s biggest tech companies. John’s portfolio includes companies such as Hootsuite, Hopper, PasswordBox (which sold to Intel), Shopify (which IPOd 2015), Wave (which sold to H&R Block) and countless others.In this episode we discuss:02:00 Private market valuations prior to the onset of the COVID-19 crisis09:26 How growth investors are pricing investments given the flux in public markets15:51 Building stronger and deeper relationships without being able to visit CEOs18:57 Adding value as a late-stage investor24:08 How to raise capital as a seed/ Series A founder27:45 John’s view on the Canadian tech landscape36:16 Weak points in the tech ecosystem and recommendations for founders45:04 Where emerging managers should focus their attention in a new landscapeFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com