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...

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 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. -- SPONSORS: 🧲 Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source...

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...

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...

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:...

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...

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...

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...

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...

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...

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...

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:...

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...

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...

In this episode of Turpentine VC, Somesh Dash, General Partner at IVP, joins Erik Torenberg to discuss how IVP differentiates itself, winning late stage deals, team construction, why venture capital in 2024 looks like private equity in 2008, the future of IVP, 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...

In this episode of Turpentine VC, Erik is joined by Frank Rotman, the founding partner of QED investors, a fintech-focused VC firm. Frank provides a nuanced analysis of investing in fintech and neo banks, offers his view of the larger macro environment, and maintains the need for discipline and resilience in business. This episode was recorded with Frank in 2023 but remains just as relevant today. --- RECOMMENDED PODCAST: History 102 with WhatifAltHist Every week, creator of WhatifAltHist...

In this episode of Turpentine VC, Ali Hamed, Partner at CoVenture, joins Erik Torenberg to discuss the advantages of investing across asset classes, CoVenture’s inflection points, the importance of being liked in venture, and asset classes Ali hopes to invest in in the future. If you’re looking for an ERP platform, check out our sponsor, NetSuite:http://netsuite.com/turpentine --- RECOMMENDED PODCAST: History 102 with WhatifAltHist Every week, creator of WhatifAltHist Rudyard Lynch and Erik...

In this episode of Turpentine VC, Tomasz Tunguz, General Partner at Theory Ventures, joins Erik Torenberg to discuss the Theory Ventures model, the coming contraction in investable VC dollars, the parallels between PE and VC, and much more. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine --- Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors (including Dan) sharing their requests for...

In this episode of Turpentine VC, Phin Barnes, co-founder of The General Partnership, joins Erik Torenberg to discuss Phin’s idea of building a YC for emerging fund managers, the sweat equity model, and building the General Partnership. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine --- Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors (including Dan) sharing their requests for startups...

In this episode of Turpentine VC, Alexis Ohanian, co-founder of Reddit and Seven Seven Six, joins Erik Torenberg to discuss how Seven Seven Six is a “tech company that deploys venture capital”, the lack of internal metrics in venture, and how he plans to reinvent venture using software. If you’re looking for an ERP platform, check out our sponsor, NetSuite:http://netsuite.com/turpentine --- Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors...

In this episode of Turpentine VC, Erik Torenberg speaks to Katherine Boyle, General Partner at Andreessen Horowitz leading the firm’s American Dynamism fund. They discuss why Katherine and a16z started the American Dynamism practice and what they hope to accomplish. If you’re looking for an ERP platform, check out our sponsor, NetSuite:http://netsuite.com/turpentine We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief...

In this episode of Turpentine VC, Erik Torenberg sits with Rebecca Kaden, Managing Partner at Union Square Ventures. They discuss USV's partnership-driven model, different venture strategies, whether automation in venture is imminent, and what USV looks for in investors. If you need an ecommerce platform, check out our sponsor Shopify: https://shopify.com/momentofzen for a $1/month trial period. We're hiring across the board at Turpentine and for Erik's personal team on other projects he's...

Today we’re back with Sam Lessin for a round 2 focused on the changing landscape of venture. We dig into the viability of M&A as a strategy for startups, “its always been crypto”, media businesses, and the role of reputation systems. If you need an ecommerce platform, check out our sponsor Shopify: https://shopify.com/momentofzen for a $1/month trial period. We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of...

Today we're joined by Elad Gil, an accomplished investor and founder, who shares his insights on the idea maze and solo capitalism. He discusses the significance of market changes and shifts in technology in identifying viable business opportunities. In addition, Gil shares his viewpoints on sectors like AI, crypto, and EdTech. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine We're hiring across the board at Turpentine and for Erik's...