Cover image of The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans
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Business
Technology
Investing

The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans

Updated 3 days ago

Business
Technology
Investing
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A podcast dedicated to demystifying Venture Capital. Nick Moran interviews the VC and Angel investor experts on how they find, evaluate and select the next generation of great technology startups.

Read more

A podcast dedicated to demystifying Venture Capital. Nick Moran interviews the VC and Angel investor experts on how they find, evaluate and select the next generation of great technology startups.

iTunes Ratings

175 Ratings
Average Ratings
168
2
2
2
1

Fantastic content!

By Joe from Highland Park - Jun 21 2019
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Great podcast to learn about investing in startups from Nick and a great cast of investors.

Great insights

By JoshRut27 - Feb 13 2018
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I keep getting little nuggets throughout each episode. Really good source of insider details

iTunes Ratings

175 Ratings
Average Ratings
168
2
2
2
1

Fantastic content!

By Joe from Highland Park - Jun 21 2019
Read more
Great podcast to learn about investing in startups from Nick and a great cast of investors.

Great insights

By JoshRut27 - Feb 13 2018
Read more
I keep getting little nuggets throughout each episode. Really good source of insider details
Cover image of The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans

The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans

Updated 3 days ago

Read more

A podcast dedicated to demystifying Venture Capital. Nick Moran interviews the VC and Angel investor experts on how they find, evaluate and select the next generation of great technology startups.

Rank #1: 42. Raising a VC Fund (Jonathan Struhl)

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Jonathan Struhl of Indicator Ventures joins Nick to discuss how he raised his first VC Fund. We will address questions including: What are the types of venture funds and what are their key differences? How do venture funds establish a strategy or investment focus? An LPA and PPM are necessary when...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jul 08 2015

56mins

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Rank #2: 180. The Self-Made Engineer, Angel, and Venture Capitalist (Cyan Banister)

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Cyan Banister of Founders Fund joins Nick to discuss the Self-Made Engineer, Angel, and Venture Capitalist. In this episode, we cover:

  • So, Cyan you have a really interesting story and background that led you to where you are today. Feel free to start wherever makes most sense but can you talk about your life experience and how it led you to where you're at now?
  • You spoke publicly about your early life at the 2018 TechCrunch Disrupt conference, from living on the streets to becoming a venture capitalist, tell us about this incredible journey, what you accredit your success to and how it lead to venture?
  • Where along the way did you meet Scott? Did you guys every consider raising your own fund?
  • How early are you able to go at Founder's Fund?
  • How do you work with founders post-investment?
  • Judicious with your magic bullets?
  • Have you funded founders with non-traditional backgrounds or missions dedicated to folks living in poverty or providing access to upward mobility?
  • How has your approach changed from your time as an angel to now your experience as a VC ?
  • Do you have any good stories or learnings from Naval?
  • Prior to FF you were an early stage investor in successful companies like Uber, Postmates, PayPal at others... I know you invest alongside Scott... who started angel investing?
  • What was your early approach to angel investing and how were you able to source and select such iconic tech companies at very early stages?
  • Can you tell us a bit about Founder's Fund and your focus? Stage, Sectors, Geographies?
  • "The most promising companies tend to share a few characteristics: They are not popular. They are difficult to assess. They have technology risk, but not insurmountable technology risk. If they succeed, their technology will be extraordinarily valuable. We have no idea what these companies might look like, only that they probably will share these characteristics. Entrepreneurs often know better than we do what might be enormously valuable in the future." -- It's a very humble approach and one that resonates with me and many others. Can you elaborate on the thesis and characteristics of founders that are the best fit for Founders Fund?
  • What's your take on the prevalent number of VCs that remove CEOs of their portfolio companies, on average, within three years of investment?
  • What's your take on contrarian vs. conformist investing... first, how do you even determine what is contrarian and then what's your take on how each ties to performance?

Feb 08 2019

53mins

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Rank #3: 37. The Algorithm for Raise Amount & Valuation (Leo Polovets)

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Leo Polovets of Susa Ventures joins Nick to cover The Algorithm for Raise Amount & Valuation. We will address questions including: You’ve outlined three major steps in “The Algorithm for Seed Fundraising.” The first, is the amount of the raise and you cite revenues, expenses and timing as key variables....

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Apr 22 2015

42mins

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Rank #4: 36. SaaS Startup Investing (Mamoon Hamid)

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Mamoon Hamid of The Social+Capital Partnership joins Nick to cover SaaS Startup Investing. We will address questions including: In your words, can you describe what a SaaS startup is and the key elements that define a SaaS company? Can you give an example of what is and what is not...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Apr 08 2015

52mins

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Rank #5: 31. The Pitch (David Brown)

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David Brown joins Nick on The Full Ratchet to discuss The Pitch Deck, including: Who is the target audience for the Pitch? Why is it preferred to a business plan? When is the right time for a startup to begin pitching for professional, seed capital? What are the basic elements of the...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jan 28 2015

35mins

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Rank #6: 107. Reinventing Venture Capital, Part 1 (Bryce Roberts)

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Bryce Roberts of Indie VC & OATV joins Nick to cover Reinventing Venture Capital, Part 1. We will address questions including: Can you walk us through your background and how you became involved in startup investing? As a pioneer in early-stage investing 10 years ago, what was the original investment...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Sep 28 2016

35mins

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Rank #7: 191. Corporate VC (David Horowitz)

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David Horowitz of Touchdown Ventures joins Nick to discuss Corporate VC. In this episode, we cover:

  • Backstory/ Path to Venture
  • Talk about the 14 years you spent with Comcast Ventures -- what you learned and why you left?
  • What lead to founding Touchdown Ventures?
  • At Touchdown, you partner with leading corporations to manage the complete venture lifecycle from entity formation to investment management…Can you dive into the thesis/focus of the firm?
  • Why would a founder choose corporate VC funding over institutional funding?
  • I was reading through the “Risky Business” blog on the Touchdown website and found some pretty interesting articles…specifically one that talks about “the most overlooked skill in Corporate venture" being deal management…that it “requires more effort than all other activities combined”…why is deal management so challenging?
  • Why do you think CVC’s funding has historically been more inconsistent than institutional venture funds?
  • Why are corporations willing to take minority stakes in startups? As Fred Wilson said on CVC—“You want the asset? Buy it.” Is there a risk to founders of taking investment from a large corporate that can "look under the hood" and reverse-engineer the tech or exploit the IP?
  • Is the core objective of a CVC financial return or is it more of a strategy play? (i.e. market insight, actively trying to grow certain sectors)
  • How does the mindset of a CVC change in a bear market, especially compared to institutional VC?
  • How does follow-on funding work in corporate VC? If the corporate has a poor financial year, does a lower funding allocation affect follow-on allotment for winners?
  • The firm was recognized by Global Corporate Venturing for having both established and managed the most corporate venture funds to date… At the industry level corp VC has peaked in funding in recent years. Why do you think corp VC has grown to this level and why did you raise the number of funds that you did?
  • One of the articles on the Risky Business blog talks about fraud detection with reference to Fyre Festival and Theranos…Talk about some red flags that an opportunity may be a fraud and what you should do if those red flags are present?

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jul 31 2019

43mins

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Rank #8: 77. Artificial Intelligence Investing, Part 1 (Nathan Benaich)

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Nathan Benaich of Playfair Capital joins Nick to cover Artificial Intelligence Investing, Part 1. We will address questions including: Can we start off w/ a simple definition of artificial intelligence? The term ‘Machine Learning’ is often used when discussing AI. In your estimation, is Machine Learning and AI synonymous or...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Apr 11 2016

41mins

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Rank #9: 108. Reinventing Venture Capital, Part 2 (Bryce Roberts)

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Today we cover Part 2 of Reinventing Venture Capital with Bryce Roberts of Indie VC. In this segment we address: What are your filters, what level of traction are you looking for and what else do you like to see in prospective applicants? Many VCs target 100x+ exits for success…...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Sep 29 2016

34mins

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Rank #10: 81. Getting Smart on a New Market, Part 1 (Charles Hudson)

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Charles Hudson of Precursor Ventures joins Nick to cover Getting Smart on a New Market, Part 1. We will address questions including: What Charles’ experience at SoftTech was like and how he made the transition to founding Precursor. What his continuing role as a Venture Partner at SoftTech entails. How...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

May 17 2016

41mins

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Rank #11: 195. Flip The Script & Perfect Your Pitch (Oren Klaff)

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Oren Klaff of Intersection Capital joins Nick to discuss Flip The Script & Perfect Your Pitch. In this episode, we cover:

  • Backstory/path to finance
  • What led to the founding of Intersection?
  • What's your mandate and focus at Intersection? Tell us about the Velocity product.
  • Your bestselling book Pitch Anything, provides a detailed methodology on effectively presenting, persuading and winning a deal during the pitch. Can you go over some key takeaways from the book for listeners?
  • In the book you talk about the "S.T.R.O.N.G Method.” Can you briefly summarize the most important components of this approach and give some examples on how it works? 
  • Your newest book "Flip the Script: Getting People to Think your Idea is Their Idea" is about to launch on August 13th.. why'd you write the book?
  • I liked the title of your first chapter... Inception.  Many will remember the blockbuster movie.  What's the "We are evolved distrust information from the outside world"... how does this impact the approach?
  • Is there a framework of structure that folks should follow to successfully flip the script?
  • What's the biggest mistake folks make when trying to sell?
  • Whats' the most practical, simple, pragmatic advice you can give... let's say a founder trying to raise venture capital... that they can take away from this convo and implement immediately.
  • Do you have a set of questions and structure for every sales discussion going in or do understand the concepts and then treat every conversation organically? Any tips on getting the meetings w/ prospects? 
  • Let's say someone has optimized their close rate... do you have tips on securing more qualified meetings?
  • If you write another book... what topic is next?

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Oct 02 2019

53mins

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Rank #12: 161. Why SaaS is not a fit for VC and How AI Compounds Competitive Advantage (Ash Fontana)

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Ash Fontana of Zetta Venture Partners joins Nick to discuss Why SaaS is not a fit for VC and How AI Compounds Competitive Advantage. In this episode, we cover:

  • Categories of AI that Ash is most interested in
  • The difference between real AI and AI-enabled companies
  • Why SaaS will cease to be investable by VCs
  • The current AI stage of adoption
  • How he times the market
  • The four phases of AI
  • What phase of AI they invest in
  • How AI is and will be affected by limited data
  • How startups can compete for talent w/ GAFA (Google, Amazon, Facebook, Apple)
  • The moats being created by their AI-first portcos
  • How they think about metrics and milestones for AI-backed companies
  • If AI should be feared
  • and finally we wrap up w/ Ash's thoughts on Chris Dixon's position that we will see a movement from centralization back to decentralization in tech-- and the role that AI will play

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Apr 19 2018

50mins

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Rank #13: 166. Techstars: What Worked, What Didn't, What's Next (David Cohen)

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David Cohen of Techstars joins Nick to discuss Techstars: What Worked, What Didn't, What's Next. In this episode, we cover:

  • "What was the original vision for Techstars, when you started?
  • How has that vision changed and evolved to where it is now?
  • Techstars Ventures-- any concern that it sends a bad signal for those cohort companies that the fund does not invest in? What does winning look like for Techstars? How do you measure success?
  • Do you measure common VC fund metrics like TVPI, DPI, IRR, etc?
  • Do you compare yourself against the other top accelerators? If so, where do you excel?
  • Started Techstars Anywhere in 2017, first full class in '18...
  • How does one run a remote accelerator w/ the same quality of an in person one?
  • I'm going to put you on the spot here-- some founders do not have a positive experience going through Techstars or other accelerators for that matter. What type of founder is the program a great fit for and what is it a poor fit for?
  • I've noticed a focus both from you and Techstars on Mental health and wellness-- what are your thoughts on this area as an opportunity for startup innovation?
  • How about the Cannabis industry. You’re based in Boulder-- what are your thoughts on the sector and opportunity for founders?
  • Do More Faster is one of the must-have books for every founder. Super pragmatic, actionable insights. What lesson or piece of advice doesn't appear in the book that, now in 2018, you'd add as a critical item for founder's to appreciate as they go through their journey
  • Techstars’s FounderCon Europe 2018 was less than 2 weeks ago-- What would you say is the biggest difference you’ve found when working with European startups vs ones in the US?
  • What do you think Techstars looks like in five years?
  • How do you balance time spent between companies that are succeeding vs. those that are failing?
  • If you were to do it all over again, what would you change?
  • What have you learned most about yourself through your experience at Techstars?"

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jun 26 2018

43mins

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Rank #14: 82. Getting Smart on a New Market, Part 2 (Charles Hudson)

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Today we cover Part 2 of Getting Smart on a New Market with Charles Hudson of Precursor Ventures. In this segment we address: How do you look at companies addressing industries where the incumbent product offerings are free.  Businesses like Slack that were replacing free options Fresh Eyes… You’ve written...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

May 20 2016

38mins

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Rank #15: 154. NEA's Investment Process & The Key Ingredients for Startup Success (Ben Narasin)

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Ben Narasin of NEA joins Nick to discuss how NEA makes decisions, why he joined the firm and the key traits he looks for in founders. In this episode, we cover:

-Why he made the move to NEA -His Investment focus -the role of Venture Partner at NEA -the investment process the firm... and if decisions are made by committee -Ben's Evaluation Process -the key factor that every successful founder possesses -The common red flags that pop up and cause him to say no to strong startups -Why he believes his job is to say no -How he assess opportunities with 100 reasons to say yes and one reason to say no -Ben's evolving approach toward weighing risk factors in startups -how the tech and investing industry has changed over the past decade -how AUM is driving a bifurcation in venture -finally we get Ben's response to the recent Techcrunch article highlighting the crash in early-stage VC funding

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jan 15 2018

1hr

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Rank #16: 30. The Dark Side of VC | Predatory Investor Practices (Joanne Wilson)

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Joanne Wilson joins Nick on The Full Ratchet to discuss predatory investor practices and the dark side of venure, including: On the founder-side…  What are some of the activities you’ve seen from early-stage investors, that are predatory toward founders? What are some of the major differences between investor practices of the mid-90’s...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Jan 21 2015

40mins

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Rank #17: 46. The Must-Have Characteristics of SaaS Startups (Tomasz Tunguz)

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Tom Tunguz of Redpoint Ventures joins Nick to cover The Must-Have Characteristics of Successful SaaS Startups. We will address questions including: Can you talk about your decision to blog, selling your partners at Redpoint, how it went in the early going and what results it’s created for yourself and Redpoint?...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Sep 02 2015

40mins

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Rank #18: 71. Blockchain Investing, Part 1 (William Mougayar)

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William Mougayar of Virtual Capital Ventures joins Nick to cover Blockchain Investing, Part 1. We will address questions including: Can you start off by telling us about your background and how you became involved in both startup investing and studying the blockchain? We hear investors talk about Bitcoin, crypotcurrencies and,...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Mar 02 2016

31mins

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Rank #19: 133. The Importance of Storytelling, VC EQ, and the LP-GP Dating Game, Part 1 (James R. ‘Trey’ Hart III)

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Trey Hart, SVP of 50 South Capital at Northern Trust, joins Nick for a deep dive on the relationship between LPs and GPs. In Part 1, we will address questions including: Trey’s path to becoming an LP His thoughts on being a GP The types of GPs and categories they...

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

Apr 21 2017

44mins

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Rank #20: 162. LP Value Creation, Why DPI is King, and Secondaries as a Means of Exit (Sarah Anderson)

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Sarah Anderson of Cintrifuse joins Nick to discuss LP Value Creation, Why DPI is King, and Secondaries as a Means of Exit. In this episode, we cover:

  • What is the investment focus/philosophy at Cintrifuse? Can you tell us a bit more about the Cintrifuse model?
  • What impact has the Cintrifuse Syndicate Fund had?
  • Can you explain how this benefits large corporates?
  • What about startups-- what's in it for them?
  • Are the corporate LPs hesitant to invest directly in funds-- Is that why they come to you?
  • Does your diversified portfolio preclude certain vertically-focused corporates from investing in a fund of funds model?
  • Does Cintrifuse work w/ other types of financial institutions, aside from insurance? If so, how have you seen them react to the explosion in crypto and disruptive fintech?
  • Tell us about your role as matchmaker-- how do you get involved and facilitate between VCs, startups and corporations?
  • What's the strategic value-add to a VC fund manager?
  • What industry disruptions have you observed and what are the impacts on large corporate companies?
  • Advice for entrepreneurs-- whether underserved spaces or where they should be focused that they're not? What message do you want to send to founders?
  • In Rob Go's recent study on fund metrics, he said "In the early days of a fund, VCs tend to optimize for TVPI. But in the long run, DPI is king. You can’t feed your family with TVPI, and you can’t spend IRR." Is he right and what do you suggest to Fund I and Fund II managers that have attractive paper gains but no distributions to paid-in (ie. a DPI of zero)?
  • Let's discuss reinvesting in startups, I want to talk about doubling down on firms and investing more in their new funds. When Chris Duovos was on we discussed the concerning stats related to persistence. And Antoinette Schoar, of MIT did a notable study on fund returns, which showed persistence of returns from private-equity funds has gone down in the last decade. She said: “If LPs are not vigilant, we'll start seeing persistence at the bottom. So many LPs want so much to get into PE that they are not sensitive enough to poor perf and keep reinvesting in partnerships that are not deserving” Sarah, what's your take on the study and her position here?"

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter @TheFullRatchet for updates and more information.

May 02 2018

48mins

Play