00:00:01 · S0, S1, S2, S3, S4, S5
Ad[00:00:01] S0: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini Chrome? That's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks, Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, and availability varies 18 plus. Ad[00:00:26] S1: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed Sponsored Jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs. Ad[00:00:56] S2: Your sausage McMuffin with egg didn't change. Your receipt did. The sausage McMuffin with egg extra value meal includes a hash brown and a small coffee for just $5. Only at McDonald's for a limited time. Ad[00:01:08] S3: Price and participation may vary. Promotion pricing may be lower than meal pricing. Ad[00:01:11] S4: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 Ad[00:01:24] S5: a year can
00:01:24 · S5, S4, S6
Ad[00:01:24] S5: a year can Ad[00:01:24] S4: save you time and over $700. Wanna Wanna get in on a membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Club. Ad[00:01:32] S6: Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus nonmember or club member pricing slash fees excludes membership fees. See Walmart Plus terms and Sam's Club terms for more info.
00:01:41 · Rebecca Lynn
[00:01:41] S7: Because it's really easy to create a company in Gen.ai in demo mode. It is a very different thing to take that beautiful demo and put it in the wild and scale it. And we've already seen a handful of companies that, you know, were backed by amazing investors kind of blow up because they weren't able to transition from that really cool slick demo into the wild, essentially, into full production. The biggest question we have for companies is they come to us and, like, it's a beautiful demo. Come to us when you have a customer that's live. My name is Rebecca Lynn. I'm the founder and managing partner of Canvas Ventures. Canvas Ventures is an early stage venture capital firm that focuses on investing in financial services, digital health, and AI. So some of the most recent outcomes of Canvas Ventures are Casetext, Gabby, and FutureAdvisor. And importantly, Casetext was a very early exit with AI and GPT four, and they exited to Thomson Reuters for about 650,000,000. Gabby was acquired by Experian and FutureAdvisor by BlackRock. So I have always been a believer in in second mover. I think first mover advantage is a fallacy. And the reason is is that it takes a lot of money and time and patience to really prove out a brand new market. And once you prove it out, you have a ton of technical debt. I invested in Lending Club, and from then on, Lending Club ended up being the largest US tech IPO in 2014. And so Lending Club wasn't the first mover. There was a company out there called Prosper who had really hit the market first. The best position to be in, in my opinion, of a company is the startup that lets another company kind of seed the market, prove that there's a market there, and then that can take that learning and come up very quickly with a better product and better marketing and no technical debt. I would challenge anyone to to come up with more than just a handful of companies that are public today that truly were the first mover. There are very few. I think the most important characteristic of a CEO is salesmanship. Really, a CEO's job all the time is sales. You're selling to your customer. You're selling to your employees. You're hiring people. You are constantly selling. The company that, in my opinion, really most clearly defines a CEO who listens to their customer and then is a great sales leader, it was Jeff Tangney at Doximity.
00:04:03 · Rebecca Lynn
He, from the very beginning, brought on a customer advisory committee to help inform him of, you know, what was important to his end users in the product and what wasn't and where to take it. Very early on, he would bring in this advisory panel to, like, an on-site sort of strategy session, and they would wireframe, you know, five, six, seven different ideas and show them to this, you know, panel of end users that would really feed into their entire product roadmap. And he did that from the beginning. So when I'm evaluating whether a CEO really possesses sort of the salesmanship, it becomes blazingly obvious as they're pitching us. You want a CEO who can sell you on their vision because of their excitement and how they thought about it and that they've talked to the consumer. And you also want them to be incredibly honest and forthright with you at the same time because that's what endears trust when you're in the sales process. So when we ask a CEO about, you know, their ARR, and is it booked or is it forecasted? Having that CEO be very open and transparent and upfront, I think shows us that they are going to not only earn our trust, but the trust of their customers. And that's really important, especially early on. The mistake most startups make when they're scaling is that they believe too early they have product market fit. And they believe they... They've got it, and then they go out and they hire a very expensive salesperson who then wants to hire a bunch of people, and they just burn a ton of cash too early. And then they have to let that salesperson go and then go back to the drawing board and kind of sort
00:05:42 · S0, S1, S2, S3
Ad[00:05:42] S0: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini and Chrome, that's new. They can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks. Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, and availability varies 18 plus. Ad[00:06:07] S1: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed Sponsored Jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs. Ad[00:06:37] S2: Your sausage McMuffin with egg didn't change. Your receipt did. The sausage McMuffin with egg extra value meal includes a hash brown and a small coffee for just $5. Only at McDonald's for a limited time. Ad[00:06:49] S3: Price and participation may vary. Promotion pricing may be lower than meal pricing.
00:06:49 · S3, S4, S6
Ad[00:06:49] S3: Price and participation may vary. Promotion pricing may be lower than meal pricing. Ad[00:06:52] S4: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 a year can save you time and over $700. Wanna get in on a membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Ad[00:07:12] S6: Club. Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus nonmember or club member pricing slash fees. Excludes membership fee. See Walmart Plus terms and Sam's Club terms for more info.