This week on Turpentine VC, we’re releasing Molly O’Shea’s interview with Mark Suster, Managing Partner of Upfront Ventures. In this episode, Mark discusses the value of disciplined investments and Upfront Ventures' focused investment strategy. He emphasizes the importance of founder-market fit and market timing in investment decisions. Mark shares his perspectives on promising sectors such as healthcare, national defense, and space, while also reflecting on the lessons from his time as a CEO an...
Sep 17, 2024•59 min•Ep. 56
This week we’re dropping the first episode of Logan Bartlett, Keith Rabois, Kevin Ryan, and Zach Weinberg's newest podcast This Won’t Last. The show is an unfiltered backchannel where they unpack the hype cycles in venture, startup culture, and business. In this episode they discuss Paul Graham’s Founder Mode, AI valuations, the state of the venture market, and free speech concerns with Telegram and TikTok. -- Apply to join over 400 founders and Execs in the Turpentine Network: https://www.turpe...
Sep 10, 2024•1 hr 24 min•Ep. 55
In this episode of Turpentine VC, we revisit one of our most referenced interviews with Trae Stephens, General Partner at Founders Fund and co-founder of Anduril. Trae discusses the unique DNA of Founders Fund, emphasizing the firm's culture of open debate and high conviction in investments. He highlights the importance of concentrated portfolios, and how Founders Fund's no-process approach differentiates them from other VC firms. They also discuss Founders Fund decision-making, governance, and ...
Sep 03, 2024•52 min•Ep. 54
In this episode of Turpentine VC, Erik Torenberg welcomes back Tomasz Tunguz, GP of Theory Ventures. They dissect the investment landscape of data businesses through the lens of Databricks. They analyze the company's growth trajectory, competition with Snowflake, and its potential in the AI era. Tom presents bull and bear investment cases, discusses valuation metrics, and explores the strategic importance of data catalogs. They also cover the emerging trends in the modern data stack, potential m...
Aug 27, 2024•43 min•Ep. 53
This week on Turpentine VC, we’re releasing a conversation between Erik Torenberg, Laura Deming of The Longevity Fund and Will Eden of Sylvan Consulting (prior to that, with Thiel capital) focused on the past, present and future of biotech. Recorded in 2019, they discuss platform companies and the evolving biotech investment landscape, examining segments like therapeutics, cell and gene therapies. Will and Laura share insights on the historical waves of biotech, the FDA's role, and the intersect...
Aug 20, 2024•1 hr 23 min•Ep. 52
Erik Torenberg sat down with Seth Bannon, co-founder and general partner at Fifty Years, a pre-seed and seed focused VC firm. They discuss the challenges of commercializing academic research, the differences between biotech and tech bio companies, exploring recent advancements in bioengineering, genetic engineering, synthetic biology, and the significance of the "bio moment." They also cover the impact of AI and machine learning on biological research and examine alternative funding models trans...
Aug 13, 2024•53 min•Ep. 51
In this episode of Turpentine VC, Erik is joined by Diogo Mónica, General Partner at Haun Ventures. They discuss the intersection of AI and crypto, the impact of blockchain technology on fintech, and the advancements in crypto infrastructure. Diogo shares potential use cases of crypto and highlights how fundamental cryptographic research can benefit broader applications beyond just crypto. They also discuss how traditional VCs are integrating into the crypto space and the importance of crypto-na...
Aug 06, 2024•49 min•Ep. 50
In this episode of Turpentine VC, Erik interviews Lee Jacobs, Founder & Managing Partner of Long Journey. Lee shares his journey from early investments and his experience with AngelList to co-founding Long Journey with Cyan Banister and Arielle Zuckerberg. He discusses the firm’s unique focus on investing in "magically weird" companies and emphasizes the importance of values, mission orientation, and building trust in LP relationships. Lee also opens up about the challenges and rewards of ea...
Jul 30, 2024•46 min•Ep. 49
In this episode of Turpentine VC, Erik interviews Glenn Solomon, managing partner at Notable Capital (formerly GGV Capital). They discuss the firm's evolution over 20 years, highlighting its strategic shift towards long-term investments and sector focus. They talk about the rebranding process, Notable Capital's global perspective, and their approach to fund sizing and building a strong internal team. Glenn offers valuable insights on navigating the changing venture capital landscape, including t...
Jul 24, 2024•40 min•Ep. 48
In this episode of Turpentine VC, Erik sits down with Mike Volpi, partner at Index Ventures. They discuss the evolution of venture capital–the transformative changes in the VC landscape since 2008, the rise of seed capital, multi-stage asset aggregators, and the professionalization of venture firms. Mike also shares Index Ventures' unique approach to building relationships with founders and fostering a strong company culture. The conversation also dives into challenges of building an open source...
Jul 16, 2024•1 hr 2 min•Ep. 47
In this episode, Managing Partner Vinny Pujji discusses the strategic positioning and innovative approaches of Left Lane Capital. The conversation digs into the specialized data analysis that sets them apart from other investment firms. Vinny also charts out the future of Left Lane and breaks down how he approached several of their investments including ChargeBee, Astrotalk, Takai Tree, and more. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform...
Jul 11, 2024•53 min•Ep. 46
In this episode, Erik Torenberg sits down with Sequoia Capital Managing Partner Roelof Botha and Jacob Helberg, author, Palantir advisor, and founder of the Hill and Valley Conference. They delve into the challenges and opportunities around AI against the backdrop of US-China tensions, the role the government has in fostering tech innovation, and the debate between open and closed source models. 🔥 Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform....
Jun 25, 2024•52 min•Ep. 45
In today's episode, we discuss Benchmark's investment philosophy in the AI era with general partner Eric Vishria, and Sergiy Nesterenko, the Founder and CEO of Quilter. Sitting in for Erik Torenberg as host is AI Scout and Cognitive Revolution host Nathan Labenz. They cover the questions that Benchmark asks to determine whether a new company is solving an enduring or temporary problem, and the reasons why Benchmark hasn't invested in a foundational model to date. They also discuss the innovation...
Jun 18, 2024•53 min•Ep. 44
Today's episode features a discussion from 2023 with reknowned independent analyst Benedict Evans (formerly a16z and Mosaic Ventures) about his predictions and frameworks for AI, VR/AR, Crypto and blockchain, the cloud, automation, and more. AI scout and podcast host Nathan Labenz (The Cognitive Revolution's host) joined for the last 20 minutes to deepen the discussion on AI. Crush your 2024 goals and learn a new language with Babbel - get 60% off at Babbel.com/torenburg 🔥 Apply to join over 40...
Jun 11, 2024•1 hr 16 min•Ep. 43
This episode was initially recorded before a live audience in 2018. Erik Torenberg talks with Naval Ravikant and Balaji Srinivasan about the history of money and centralization and why crypto has the potential to fulfill the promise of the internet. Access global engineering without the headache and at a fraction of the cost: head to https://choosesquad.com and mention “Turpentine” to skip the waitlist. Balaji Srinivasan is a founder, investor, and author of The Network State. Naval Ravikant is ...
Jun 04, 2024•1 hr 8 min•Ep. 43
Today's episode of Turpentine VC is a throwback to a conversation Erik Torenberg recorded with Parker Conrad and Parker Thompson that debates how much "value-add" investors can offer founders, issues around the misalignment between investors and founders, and the underdiscussed factors that influence VC deals. Parker Conrad is the co-founder and CEO of Rippling (and co-founder/CEO of Zenefits) and Parker Thompson is a current partner at SAX Capital (formerly Partner at Angellist). The conversati...
May 28, 2024•1 hr 10 min•Ep. 41
This episode of Turpentine VC is a live panel from the Hill and Valley Forum held in May 2024 on the pivotal role of novel technologies and AI in modern warfare and defense strategies, and how venture is helping rebuild the capital formation of the industrial base. Senator Mike Rounds moderates Joe Lonsdale, Managing Partner at 8VC, Josh Wolfe of Lux Capital, and Matthew Steckman, CRO at Anduril to discuss the novel military applications of the technologies they are working on and the shift in c...
May 21, 2024•30 min•Ep. 40
In this episode of Turpentine VC, Erik Torenberg interviews Will Summerlin, managing partner at Autopilot, a VC firm investing in companies that use AI to automate industries. Prior to co-founding Autopilot, Will was an investor at ARK. Erik and WIll discuss where to find alpha when investing in AI, the competitive edge of incumbents versus startups, and investment strategies tailored to AI's potential. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.t...
May 14, 2024•47 min•Ep. 39
In this episode of Turpentine VC, Erik Torenberg sits down with Alex Edelson from Slipstream Investors, and explores the potential for a new fund built on top of Turpentine, Erik's media company. This live pitch jam session covers the key questions and mental models for building and validating a new fund. They also cover portfolio construction, fund size and stage, and the delicate balance between sticking to proven strategies and evolving with the market's needs. Source better deals with the mo...
May 07, 2024•45 min•Ep. 38
Erik Torenberg talks to Vinod Khosla about his contrarian bets at Khosla Ventures, the firm’s strategic thinking about the future, and why his “venture assistance” is different than other funds. They also discuss his investment thesis in AI (including OpenAI), robotics, biotech, crypto, education, transportation, and more. Source better deals with the most complete startup database: https://bit.ly/harmonicturpentine -- SPONSORS: 🧲 Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s dat...
Apr 30, 2024•57 min•Ep. 37
This episode features a discussion recorded in 2023 between Erik Torenberg and Joe Lonsdale, founder of 8VC, Palantir and the Cicero Institute. They cover Joe's proposed solutions to challenges in U.S. education, prison reform, homelessness, healthcare, defense, and more. This conversation offers a riveting overview for anyone in venture to better understand the interplay of policy and market-driven solutions to systemic problems. Source better deals with the most complete startup database: http...
Apr 23, 2024•55 min•Ep. 36
In this episode Erik Torenberg sits down with Jason Lemkin, the founder and CEO of SaaStr, a venture firm, podcast network, event series, and the world’s largest community for B2B/SaaS founders. This candid conversation focuses on SaaStr's business model at the intersection of VC, media, and events. Jason also covers why all VC's need to nail the right amount of marketing, what 'edge' looks like in venture, why Jason never created a YC for SaaS, and the distinctions between business models that ...
Apr 16, 2024•1 hr 13 min•Ep. 35
This episode features an interview with a16z GP and co-founder Marc Andreessen, discussing his intellectual influences and detailing his quest to understand how the world works. He covers the authors who have shaped his thinking, the influence of elites on policies, and global governance. This conversation was recorded in late 2022. Since then, Marc and a16z have released “The Techno-Optimist Manifesto". If you enjoyed this episode with Marc check out episode 1 of Turpentine VC with Ben Horowitz...
Apr 09, 2024•1 hr 51 min•Ep. 34
This episode features a special interview with James Currier, a partner at NFX. In this conversation, James sits with Erik Torenberg to discuss why founders tend to be more authentic at the accelerator stage than at the seed stage, James's skepticism about B2B marketplaces, and how NFX approaches investments and decision-making. This was recorded as part of a live event in 2021. --- Recommended Podcast: Company Breakdowns Each episode of Company Breakdowns dives into S-1s and series B-and-beyond...
Apr 02, 2024•1 hr 1 min•Ep. 29
This episode features an interview with Scott Belsky, angel investor, Chief Strategy Officer at Adobe, and founder of Behance. In this conversation, which was recorded in 2021, we dive into Scott’s early investments in companies like Pinterest and Uber, the evolution of his investment philosophy, and the principles he acquired over time. This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of indu...
Mar 26, 2024•48 min•Ep. 28
Today's episode features an interview with Will Quist, partner at Slow Ventures. In this conversation Will talks about his transition from water polo player to helping build Slow, Slow's unique thesis in venture, the old model of VC versus new VC, and treating venture capital like a phD program. Check out our two interviews with Will's partner at Slow, Sam Lessin: Seed is Over https://www.youtube.com/watch?v=py7IPmDKjb4 VC in 2024 https://www.youtube.com/watch?v=crj_H3JPHvg --- BOOK CITED: The S...
Mar 19, 2024•55 min•Ep. 27
This is a special episode featuring an interview between Forerunner Ventures founder Kirsten Green and Turner Novak of The Peel podcast and Banana Capital. The conversation covers Kirsten's journey from her early days in retail investment banking to the creation of Forerunner Ventures, how she thinks of the state of consumer investing, the story behind Dollar Shave Club, how she makes investment decisions, and maintaining strong relationships with LPs. --- RECOMMENDED PODCAST: The Peel Podcast w...
Mar 12, 2024•1 hr 17 min•Ep. 28
This episode features an interview with Mike Maples, Jr, the co-founder of Floodgate, that took place in 2020. Mike's interview on Turpentine VC from September 2023 is one of our most popular episode to date, and this earlier interview offers relevant context to his success and discipline. The conversation covers how Mike got his first fund from Austin Ventures, his view on "Thunder Lizard," missed opportunities like Airbnb, and what VC could look like in the future. --- RECOMMENDED PODCAST: His...
Mar 05, 2024•1 hr 16 min•Ep. 29
In this episode Chris Dixon, GP at a16z Crypto, joins Erik Torenberg along with cohosts Dan Romero and Antonio Garcia Martinez to discuss his recent book Read Write Own: The Next Era of the Internet, how he thinks AI and crypto will collide, and why Web3 consumer hasn’t taken off yet. This conversation with Chris was recorded for the Moment of Zen podcast and goes several levels deeper on Chris' crypto/web3 thesis than most of his book tour. --- RECOMMENDED PODCAST: History 102 with WhatifAltHis...
Feb 27, 2024•1 hr 21 min•Ep. 28
In this episode of Turpentine VC, Michael Dempsey, Managing Partner at Compound, joins Erik Torenberg to discuss thesis-driven vs founder-driven investing, Compound’s AI thesis, company building opportunities, ways to win at venture, advice for emerging managers, and much more. --- RECOMMENDED PODCAST: History 102 with WhatifAltHist Every week, creator of WhatifAltHist Rudyard Lynch and Erik Torenberg cover a major topic in history in depth -- in under an hour. This season will cover classical G...
Feb 20, 2024•58 min•Ep. 27
