Share

cover art for 435. How to Raise Venture Capital in 2024: Valuations, AI, Diversity & more with Julia Krieger

Future Squared with Steve Glaveski

435. How to Raise Venture Capital in 2024: Valuations, AI, Diversity & more with Julia Krieger

Julia Krieger is the managing partner of Pari Passu Venture Partners, a network of founders supporting founders. She has been both an operator and a venture investor and so has unique perspectives on all things startups and VCs.


In this conversation, we explore:

  • Julia’s time investing over $100M for Insight Partners
  • Her experience building sharing economy marketplace, VillageLuxe
  • How Pari Passu invests on an SPV model instead of a fund model, and the benefits of this
  • Operator-led VC firms v non-operator led VC firms and their respective merits
  • Where the venture landscape and valuations are at today
  • The impact of AI on capital efficiency
  • Warm v cold outreach
  • Tips for founders looking to raise
  • How going through difficult times breeds empathy
  • We also touched on Scale AI’s meritocratic-based hiring process and how Julia thinks about backing diverse founders


Timestamps

(00:02) - Discussion about balancing work and family, and the start of the podcast conversation.

(00:07) - Reflection on investing over $100 million in Marketplace and SAS companies, and insights into the Russian tech ecosystem in the early 2010s.

(00:12) - Detailed discussion about the operational model and cultural philosophy at Insight Partners.

(00:17) - Transition from Insight Partners to founding Village Lux, and the challenges faced during the COVID-19 pandemic.

(00:22) - Discussion on the lessons learned from running Village Lux and transitioning to founding Pari Passu Ventures.

(00:27) - Details on the setup of Paripasu Ventures and its unique investment approach through an SPV model.

(00:32) - Discussion about the current venture capital environment, the importance of resilience in founders, and the impact of economic cycles on startup funding.

(00:37) - Insights into how founders are adapting to the current economic environment and strategies for longer runway and fundraising.

(00:42) - The philosophical and operational approach of Pari Passu Ventures, and the significance of supporting diverse founders.

(00:47) - Concluding remarks and final thoughts on the future of startups, AI influence on business, and the importance of diverse and merit-based funding approaches.


Resources and Links


Connect with Us


Our Sponsor


Leave us a review!



Timestamps

More episodes

View all episodes

  • 434. Why Australia will NEVER be Silicon Valley with Chris Saad

    01:02:11
    My guest today is Chris Saad, he’s a seasoned product and startup builder, co-host of The Startup Podcast, and former Head of Product at Uber's Developer Platform.He’s been at the forefront of building companies since graduating high school the turn of the millennium, and has spent considerable time in both Australia’s and the United State’s tech and startup ecosystems, giving him a unique perspective on the differences between the two.We discussed:the apparent catch 22 of Australia’s social safety netthe difference in mindset between American and Australian foundersthe underlying geographic, political, and economic realitieswhy Australia’s investment ecosystem is unsophisticatedChris’ provocative thought son social justice activism amongst startup ecosystemsregulatory and tax landscapesand so much moreResources and LinksThe Startup Podcast: https://tsp.showChris Saad's website: https://www.chrissaad.comConnect with UsFollow me on Twitter: https://www.twitter.com/steveglaveskiFollow me on Instagram: https://instagram.com/thesteveglaveski Subscribe to my newsletter: https://futuresquared.xyzOur SponsorGet your free content strategy: https://sonicboom.vcLeave us a review!Timestamps(03:00) - Contrast between California's wealth and homelessness(05:00) - Adjusting audio settings and reconnecting with Chris Saad(07:00) - Viral LinkedIn post about Australia's startup ecosystem(09:00) - Reactions to the LinkedIn post(12:00) - Comparing entrepreneurial ecosystems of Australia and US(15:00) - Impact of social safety nets on entrepreneurial spirit(17:00) - Differences in urgency and hustle culture(19:00) - Historical and cultural factors in Australian attitudes(20:00) - Statistics on unicorns per capita(23:00) - Characteristics of US vs. Australian entrepreneurs(25:00) - Scarcity vs. abundance mindset(27:00) - Challenges in the Australian startup ecosystem(29:00) - Importance of talent density(31:00) - Changes in Australian startup ecosystem(33:00) - Networking in Silicon Valley vs. Melbourne(35:00) - Value of Silicon Valley-based clients(37:00) - Impact of regulation on startups(39:00) - Tax and regulation differences between US and Australia(41:00) - Regulatory capture and its impact on startups(43:00) - Differences in divorce law between US and Australia(45:00) - Challenges in promoting fintech startups in Australia(47:00) - Sophistication of Australian investors(49:00) - Investor mindset and startup economics(51:00) - Rational exuberance in US investments(53:00) - Importance of early-stage startup enthusiasm(55:00) - Misunderstanding of startup risk in Australia(57:00) - Universal truths in startup success(59:00) - Social justice and its impact on startups(1:01:00) - Finding balance in social justice efforts(1:03:00) - Conclusion and where to find more of Chris Saad
  • Rebroadcast: Robert Greene on the 48 Laws of Power

    01:08:43
    This man needs no introduction but I’m going to give him one anyway.Robert Greene is the author of the New York Times bestsellers The 48 Laws of Power, The Art of Seduction, The 33 Strategies of War, The 50th Law and Mastery.His highly anticipated sixth book, The Laws of Human Nature, explores people's drives and motivations, even when they are unconscious of them themselves. Knowing why people do what they do is the most important tool we can possess, without which our other talents can only take us so far. Having read hundreds of business books myself, perhaps the books that have had the most profound positive impact on how I show up each day and how I conduct myself are books on psychology, behavioural economics, neuroscience and biological evolution. Books that ultimately helped me to understand myself and understand others. As such, I was really excited to read the Laws of Nature and speak with Greene about what is such a fundamental topic. In addition to having a strong following within the business world and a deep following in Washington, DC, Greene's books are hailed by everyone from war historians to the biggest musicians in the industry (including Jay-Z and 50 Cent). Expect to learn a ton from this conversation, but in particular, three key take-aways:1) How having an estimated 80 jobs before becoming an author shaped Greene’s world view and made him a better and more creative writer2) Why it is our moments of frustration where we often seek out life-changing answers3) How Greene seeks the path of what is ‘most right’ by looking at questions from multiple angles and contemplating many alternatives This just scratches the surface of the many enlightening things we discussed - just peek at the topics discussed in the show notes to get a feel for everything discussed - so with that, it gives me much pleasure to present you with one of the most pre-eminent authors of our time, the one and only, Robert Greene. Show Notes:1.  The Blog of Robert Greene: www.powerseductionandwar.com2.  Twitter: @RobertGreene3.  Greene’s Books: https://www.amazon.com/Robert-Greene/e/B001IGV3IS4.  The Laws of Human Nature Book: https://www.amazon.com/Laws-Human-Nature-Robert-Greene/dp/0525428143 Connect with UsFollow me on Twitter: https://www.twitter.com/steveglaveskiFollow me on Instagram: https://instagram.com/thesteveglaveski Subscribe to my newsletter: https://futuresquared.xyzOur SponsorGet your free content strategy: https://sonicboom.vcLeave us a review!If you enjoyed this episode, please leave us a review and share it with your friends.
  • 433. Political Correctness, Cancel Culture, and 30 Years in Comedy with Joe Avati

    01:01:11
    In this episode, I sit down with international touring comedian Joe Avati, known for his hilarious takes on Italian-Australian life and its cultural quirks.Joe is currently in the midst of his When I Was Your Age world tour, and I had the pleasure of catching him perform in front of a sold out crowd of 450 people in Melbourne. Joe shares insights on early life, pursuing the arts, how he has dealt with the adversity of bombing, the grit needed to make it in any profession, why comedians shouldn’t get married, raising kids to be resilient in today’s climate, and the impact of political correctness on not just comedy, but on emerging generations of young people. Key Topics DiscussedTour Update: Joe talks about his ongoing tour across the US, Canada, Europe, and Australia. He shares anecdotes from his recent shows and reflects on the global reach of his comedy.Early Life: Joe reminisces about growing up in Five Dock, Sydney, as the son of Italian immigrants. He discusses his family's move to Australia and how his heritage influenced his comedic style.Career Beginnings: Joe recounts his start in comedy at Sydney’s Original Comedy Store at the age of 21. He shares stories from open mic nights, the challenges he faced, and his journey to becoming a successful comedian.Family Expectations: Initially studying food science and aspiring to be a restaurateur, Joe discusses his family's reactions to his career choice and how they eventually embraced his path in comedy.Comedy in the Modern Era: Joe addresses the changes in comedy over the past 20 years, including the impact of social media and the rise of politically correct culture. He shares his thoughts on controversial comedy and pushing boundaries.Parenting in 2024: As a father, Joe talks about raising kids in today's world, the importance of resilience, and ensuring his children grow up well-adjusted.Celebrating Cultural Differences: Known for highlighting cultural quirks, Joe explains how he balances making fun of these quirks while also celebrating them, particularly in his Italian-Australian community.Resources and LinksJoe Avati's Official Website: https://www.joeavati.comConnect with UsFollow me on Twitter: https://www.twitter.com/steveglaveskiFollow me on Instagram: https://instagram.com/thesteveglaveski Subscribe to my newsletter: https://futuresquared.xyzOur SponsorGet your free content strategy: https://sonicboom.vcLeave us a review!If you enjoyed this episode, please leave us a review and share it with your friends. Transcript(10:01) - Joe's take on comedians getting married and having kids late. (20:02) - Transition from food science to comedy. (25:01) - Joe's family reaction to his comedy career. (30:01) - Joe's perspective on being seen as Australian versus Italian. (35:18) - Joe's experiences with reverse jealousy and people changing. (40:02) - Joe's efforts to remain humble despite fame. (55:32) - Joe's thoughts on navigating today's political landscape as a comedian.
  • 432. The One Page Marketing Plan with Allan Dib

    57:19
    In this episode of Future Squared, we're joined by Allan Dib, bestselling author of The 1-Page Marketing Plan, to discuss his latest book, Lean Marketing.Allan shares his insights on common marketing mistakes, the power of three force multipliers, and how businesses can leverage tools and tactics to achieve success. We also delve into the world of AI marketing, the seven core commodities of business, and key objections every marketer needs to overcome.Tune in for an enlightening conversation packed with actionable advice and expert perspectives.Topics Discussed:Common Mistakes: Allan identifies typical pitfalls businesses face when implementing Lean Marketing and offers practical advice on how to avoid them.Three Force Multipliers: Learn about the tools, assets, and processes that can exponentially enhance your marketing efforts.Tools and Tactics: Discover the exact tools and tactics Allan recommends for building an effective marketing system.AI Marketing: Explore how AI is revolutionizing the marketing landscape and the tools Allan uses to stay ahead.Seven Core Commodities: Understand the fundamental commodities all products and services boil down to and how this knowledge can shape your marketing strategy.Key Objections: Allan shares insights on the key objections marketers need to overcome to succeed.Immediate Changes for Profit: Find out the one change you can make today to start making more money.Much More: From balancing the need to be right with the need to be successful, to building a business you love, this episode is filled with invaluable tips and strategies.About Allan Dib: Allan Dib is a serial entrepreneur who has built and scaled multiple businesses. A pickleball fan, Allan's previous book, The 1-Page Marketing Plan, has garnered over 9,000 reviews and widespread acclaim. His new book, Lean Marketing, builds upon the concepts from his previous work, offering fresh insights and strategies for today's dynamic market.Episode Links:Lean Marketing Website: https://leanmarketing.comSubscribe to our newsletter: https://futuresquared.xyzGet your free content strategy: https://sonicboom.xyzTimestamps:(2:00) - Introduction and Podcast Background (3:01) - Pickleball and Paddle Sports Discussion (4:18) - Introduction to Lean Marketing Book (5:08) - Differences Between Lean Marketing and The 1-Page Marketing Plan (6:45) - Importance of Planning in Marketing (8:24) - Marketing Challenges for Startups (9:00) - Random Acts of Marketing and Their Pitfalls(10:06) - Importance of Understanding Your Target Market (12:09) - Integrating Marketing Across the Organization (14:25) - Short Feedback Loops and Learning Quickly (15:34) - Value of Processes in Marketing(18:27) - Direct Response Marketing vs. Brand Marketing (21:19) - Providing Value to Build Goodwill (24:12) - Benefits of Providing Clarity to Customers (29:23) - Identifying and Targeting Your Niche Market (34:30) - Importance of Focusing on Premium Customers (41:21) - Leveraging Tools and AI for Market Advantage (43:08) - Importance of Marketing Assets (48:00) - Marketing Processes and Daily Operations(50:38) - What Are You Really Selling? (53:14) - Deepfakes and Authenticity in Marketing (56:02) - Conclusion and Resources
  • 431. Get 10X Better at Anything with Scott H Young

    01:01:25
    I was thrilled to welcome back Scott H. Young, a renowned writer, programmer, and avid learner. Scott is here to discuss his latest book, "Get Better at Anything: 12 Maxims for Mastery."This book dives deep into the principles of mastering new skills and achieving continuous improvement in any field.Key Topics Discussed:Introduction to "Get Better at Anything": Scott provides an overview of his new book and its structure, highlighting the three main parts: Learning from others (See), Learning from practice (Do), and Learning from experience and feedback (Feedback).Maxim 1 - Learn from the Best: The importance of identifying and learning from top performers in your field. Scott shares practical tips on how to approach and benefit from their expertise.Maxim 2 - Practice Deliberately: Scott explains the concept of deliberate practice and how it differs from regular practice. He offers actionable advice on how to structure your practice sessions for maximum improvement.Maxim 3 - Embrace Feedback: The role of feedback in the learning process and how to effectively incorporate it into your routine. Scott discusses strategies for seeking and utilizing feedback to refine your skills.Show Notes:Website: www.scotthyoung.comTimestamps(2:02) - Interview Start: Catching Up with Scott H. Young(3:00) - Difference Between 'Ultra Learning' and 'Get Better at Anything'(4:54) - Importance of Learning from Others(6:13) - Motivation from Seeing Others Succeed(8:00) - Why Success is a Better Teacher than Failure(10:18) - Problem Solving as Search in Entrepreneurship(12:30) - Variability in Practice for Skill Improvement(15:23) - Creativity Begins with Copying(18:49) - Deliberate Practice and the Role of Coaches(21:04) - Managing Cognitive Load in Learning(24:25) - Benefits and Limits of Variability in Practice(27:01) - Online Poker Players and Data-Driven Learning(30:17) - Data-Driven Marketing vs. Traditional Marketing(33:10) - Learning Plateaus and Breaking Through Them(36:11) - Difficulty Sweet Spot and Flow State(39:19) - Anxiety and Performance in High-Stress Situations(42:22) - Exposure Therapy and Overcoming Fears(45:12) - Importance of Regular Exposure for Reducing Fear(47:03) - Experts as Teachers: Challenges and Solutions(50:00) - Asking for Stories Instead of Advice(52:19) - Applying Storytelling in Hiring Processes(54:51) - Unlearning Bad Habits and Making Progress(1:00:00) - Balancing Seeing, Doing, and Feedback in Learning(1:01:30) - Closing Remarks and Scott H. Young's Website
  • 430. So You Wanna Be an Influencer with Taryn Williams

    58:21
    In this episode, we delve into the complexities of social media influence, authentic leadership, and the pursuit of happiness in entrepreneurship. Today's guest is the remarkable Taryn Williams, a veteran entrepreneur who founded Wink Models, The Right Fit (exited), The Influencer Agency (exited), and the innovative gifting service, #Gifted.  In a candid discussion, Taryn talks about the challenges and successes she faced building businesses in her 20s and stepping back into a leadership role, and emphasizes the vital roles of self-care, mentorship, and maintaining genuine team connections.  Taryn shares invaluable insights on navigating the influencer economy, the shift towards micro and nano influencers, and the importance of organic growth and audience engagement. She also reflects on the impact of social media on young people, stressing the need for authenticity over appearance. We weigh in on the dangers of "struggle porn" and the reality behind the pursuit of universal success through social media platforms, shedding light on the psychological effects of these digital tools on our values and aspirations.   Show Notes: Instagram: instagram.com/tarynwilliams #Gifted: www.hashgifted.com Get your free content audit and strategy: www.sonicboom.vc    Timestamps: 00:00 Founded multiple successful businesses, including Wink Models. 05:00 Supportive network, fair pay, collaborative approach, success. 08:44 Early on, I struggled with delegation. 12:15 Scaling a business requires talented team. 15:18 Founder values cultural fit, technical understanding, learning. 18:33 Consistent follow-up for building and maintaining relationships. 20:00 Act on feedback to gain mentor's support. 24:26 Find market fit, build, test, adapt. 25:53 Planned sabbatical interrupted by successful business venture. 29:32 Regret over past decisions, focus on relationships. 32:40 Self-reflection on motivations for success and happiness. 37:46 Chasing external markers of success leads to unhappiness. 41:29 Navigating societal pressures to pursue personal ambitions. 44:04 Navigating sensitive topics while maintaining authenticity online. 48:38 TikTok sale may change US algorithm. Instagram adapts. 49:41 Brands prefer Instagram over TikTok for control. 54:03 Clarify goals to shape effective marketing strategy. 57:34 Steve invites weekly email subscribers for updates.
  • 429. Cage Kings: The Business of the UFC with Michael Thomsen

    01:04:34
    Michael Thomsen is a freelancer writer, author, and UFC tragic from New York.   He is the author of Cage Kings: How an Unlikely Group of Moguls, Champions & Hustlers Transformed the UFC into a $10 Billion Industry, which unpacks the rapid rise of the UFC an mixed martial arts, the UFC’s business model and economics, the one man tour de force that is longtime UFC president Dana White, the role of the UFC’s owners over time - SEG, Zuffa and Ari Emanuel, and the organization’s anti-competitive behaviors and adversarial relationship with its fighters, which aren’t employees, but independent contractors - most of whom would earn more working a run of the mill admin job in the public sector.   Thomsen’s work has appeared in The New Yorker, The New York Times, The Washington Post, The Atlantic, Slate, Vanity Fair, The Daily Beast, Aeon, Forbes, Al Jazeera America, Adult, Talking Points Memo, Los Angeles Review of Books, Complex, The Paris Review n+1, Bookforum, The Believer, The New Republic, Kill Screen, The New Inquiry, and The Millions.   With that, here’s my conversation with the one and only, Michael Thomsen.   Show Notes: 1. Twitter: https://twitter.com/mike_thomsen?lang=en 2. Get Cage Kings: https://www.amazon.com/Cage-Kings-Unlikely-Champions-Transformed-ebook/dp/B0BHTM6YRY 3. Email Mike: mikthom@gmail.com 
  • Rebroadcast: Jason Calacanis on Angel Investing and Corporate Venture Capital (2017)

    01:03:15
    Originally published: 2017 Jason Calacanis is a tech entrepreneur, wildly successful angel investor, and the host of the popular weekly podcast This Week in Startups. He's the founder of a series of conferences that bring entrepreneurs together with potential investors. As a “scout” for top-tier Silicon Valley venture capital firm Sequoia Capital and later as an angel investor, Jason has invested in 150 early-stage startups including four that have achieved billion-dollar valuations (so far) such as Uber, Evernote and Tumblr. Jason's newly released book "Angel: How to Invest in Technology Startups: Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000" puts readers inside the minds of successful angel investors, helping to understand how they prioritize and make the decisions that have resulted in phenomenal profits. Jason provides a step by step roadmap, revealing how leading investors evaluate new ventures, calculating the risks and rewards, and explains how the best startups leverage relationships with angel investors for the best results. In this episode we go back to Jason’s rough upbringing in Brooklyn, NY in the early 80s and cover a lot of ground leading up to the present day so you can expect to learn a lot of things, including: How to pick a billion dollar founder or startup How to bounce back from failure What Jason thinks of and what advice he has for corporates investing in startups All topics discussed: Jason’s humble beginnings in Brooklyn, NY What got Jason into startup investing The alchemy of startup investing Why you should always wait for external validation from other investors before investing Why ideas are a dime a dozen and you should invest in startups that have demonstrated traction The biggest mistake first time startup investors make The changing nature of angel investing and venture capital On books becoming a business card for many people Why building quality deal flow is a popularity contest of sorts How to get started investing with little money The number one thing Jason looks for in entrepreneurs Other factors to evaluate startups and entrepreneurs, including Jason’s ‘four founder questions’ How Jason navigated his Silicon Valley Reporter going bust during the dot com boom How to ask good questions What Jason’s views on corporate venture capital are and what advice he has for corporates looking to or already investing in startups How to go about taking lots of small bets when diversifying and building your portfolio What Jason thinks about ICOs, cryptocurrency and blockchain Show notes: Get the book: https://amzn.to/2QpLqkX The book: Angelthebook.com   @jason on Twitter Jason’s podcast: ThisWeekInStartups.com