Invested by Aleph

Ami Daniel, co-founder and CEO of Windward and former naval officer, explains why the Strait of Hormuz is a global trade choke point. He discusses mines, drones, ransom-for-passage tactics, soaring insurance and freight costs, rerouting and convoy challenges, and how a single weapon can shut trade again. Short-term shocks ripple into energy, food and fertilizer markets with long-lasting supply effects.

A firsthand account from Tel Aviv about living and building amid rocket attacks and sirens. Stories of underground weddings, newborns, and youth mobilizing in hospitals show everyday resiliency. How war accelerates defense tech, AI coordination, and startup momentum is explored. The conversation argues that agency, sovereignty, and technological capability are reshaping global power and investment trends.

Eran Shir, Nexar co-founder and CPO — serial entrepreneur with a background in complex systems and ML. Zach Greenberger, Nexar CEO — ex-Lyft/Tesla leader building AI for the physical world. They dive into massive real-world driving data collection, crowdsourced vs fleet strategies, data moats for rare edge cases, building world models, and turning the company agentic to rapidly prototype city and safety applications.

Dr. Shlomi Madar, a PhD-trained molecular biologist and CEO of SpotitEarly building canine+AI cancer screening, explains how trained beagles sniff VOCs from breath in three minutes. He discusses why dogs plus machine learning boost accuracy, plans for direct-to-consumer $250/year kits, and regulatory and clinical validation challenges for scaling this approach.

David Marcus, CEO of Lightspark and former PayPal president, shares his insights on Bitcoin and education. He argues that elite colleges can radicalize students and questions their relevance in the age of AI. Marcus discusses the controversial Libra project, highlighting its potential to disrupt the global financial system and revealing Janet Yellen's role in its demise. He emphasizes Bitcoin as a neutral currency and forecasts its value reaching seven figures, while calling for awareness about the dangers of political radicalization in education.

Gavin Baker, a macro investor, argues that solar and batteries offer an economic solution to climate change. Sender Cohen shares insights on George Soros and Stan Druckenmiller’s unique investing styles. Gali Arnon discusses how celebrity campaigns helped Fiverr attract quality users. Micha Kaufman emphasizes personal responsibility for career growth in the face of AI. Lastly, former NBA player Omri Casspi advises athletes on networking and preparing for life beyond sports.

David Magerman, a former researcher at Renaissance Technologies and co-founder of Differential Ventures, shares his insights on AI's potential dangers. He likens AI to 'an automatic machine gun we're giving children,' stressing the risks of its misuse. The conversation also delves into Renaissance's unique hiring philosophy, favoring PhDs who bring diverse skills over typical finance backgrounds. David reflects on personal sacrifices for success and emphasizes that true fulfillment comes from beyond wealth, shaping his investing perspective with spiritual values.

On this episode of Invested, Michael sits down with Jeff Clavier, the Founding Partner at Uncork Capital, a seed-stage venture firm in Palo Alto and San Francisco. Clavier founded Uncork Capital in 2004 (then called SoftTech VC) to provide active support and capital for companies in their first 18 months of life. Jeff has helped numerous companies reach successful outcomes, including Fitbit (NYSE: FIT), SendGrid (NYSE: SEND, Twilio), Eventbrite (NYSE: EB), Postmates (Uber), and Poshmark (NASDAQ: POSH). His current investments include ClassDojo, DroneDeploy, Shippo, Front, Loft Orbital, and Carrot Fertility. Jeff was born in France and graduated from Université Paris Descartes with an M.S. in Computer Science. He was formerly the CTO and an early employee at Effix, a fintech startup that sold to Reuters. In 2000, he immigrated to the U.S. and joined RVC, Reuters’ $450 million corporate venture capital fund, as a general partner. He recently wrapped up his four-year term on the board of the National Venture Capital Association. One of the early VC bloggers in 2004, Jeff is now a popular conference speaker and social media/TV commentator. When he is not spending time with Uncork’s portfolio companies, Jeff enjoys traveling, skiing, hiking, scuba diving, collecting wine, and hanging out with friends and family. Please rate this episode 5 stars wherever you stream your podcasts! KEY TOPICS  00:00 - Intro 03:52 - Is Seed Investing Just “VC Tourism”? 06:08 - Why Being a “VC Lifer” Matters 08:35 - How Uncork Wins 91% of its Term Sheets 11:59 - GP Fundraising is Harder Than Startup Fundraising 14:15 - Capital Bottleneck in Private Markets  16:38 - Now it Takes 15 Years to Prove You’re a Good VC 20:46 - The Real Choke Point in Venture Isn’t Seed 26:13 - The “Three Asses” Rule 29:00 - Gut Feel vs. Process 32:54 - Passing on LinkedIn and Uber 37:45 - How Do You Know if You’re Actually Good at Venture? 41:19 - Succession Planning: Stepping Back After 21 Years 46:09 - Uncork Can’t Depend on One Person 47:05 - From Venture to Winemaking  52:15 - Go Narrow First RESOURCES Follow Jeff on X - https://x.com/jeff Learn more about Uncork Capital - https://uncorkcapital.com Subscribe to Invested here: https://content.aleph.vc/invested Learn more about Aleph: aleph.vc  Sign up for Aleph’s monthly email newsletter: https://newsletter.aleph.vc/ Subscribe to our YouTube channel: https://www.youtube.com/@aleph-vc/ Follow Michael on Twitter: twitter.com/mikeeisenberg Follow Michael on LinkedIn: https://www.linkedin.com/in/mieisenberg/ Follow Aleph on Twitter: https://twitter.com/mikeeisenberg ‍Follow Aleph on LinkedIn: https://www.linkedin.com/company/aleph-vc/ ‍Follow Aleph on Instagram: https://www.instagram.com/aleph.vc/ CREDITS Executive Producer: Erica Marom  Producer: Myron Shneider, Sofi Levak Video and Editing: Ron Baranov Music and Creative Direction: Uri Ar  Content and Editorial: Kira Goldring Design: Rony Karadi

Jacques Benkoski, a partner at U.S. Venture Partners, has extensive experience in technology and investing. He discusses the evolving landscape of AI, emphasizing that successful adoption will hinge on adapting workflows rather than replacement. Jacques highlights the concept that bubbles can stimulate innovation, likening past tech bubbles to today's AI surge. He critiques traditional go-to-market strategies, declaring ‘Crossing the Chasm’ outdated, and stresses the importance of understanding true customer needs. His Market Entry Strategy is a vital resource for entrepreneurs.

Henry Ward, the CEO and co-founder of Carta, shares insights into the platform that transforms cap tables and valuations. He discusses the controversial shutdown of CartaX and its implications for private market liquidity. Henry dives into AI strategies, emphasizing its potential to streamline accounting and eliminate manual data entry. He also reveals his hiring philosophy of seeking 'missionaries' over 'mercenaries' to foster commitment. With a focus on emotional intelligence and transparency, Henry outlines the importance of culture in scaling a tech company.