Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.
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"This Won't Last" with Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg
Turpentine, Keith Rabois, Logan Bartlett, Zach Weinberg, Kevin Ryan
Sit in on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel where they unpack their hottest takes on the future of tech, business, venture, investing, and politics. This Won't Last is part of the Turpentine podcast network. Learn more: www.turpentine.co
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Cloud Returns covers ALL types of software investing, whether seed, venture capital, growth equity, private equity, debt, and the public markets. Our target audience: SaaS investors AND operators raising capital that listen to SaaStr, Twenty Minute VC (20VC), The Logan Bartlett Show, or Thoma Bravo’s Behind the Deal and still want to learn even more.
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On Turpentine VC, host and venture capitalist Erik Torenberg delves deep into the art and science of building successful venture firms through conversations with the world’s best investors and operators. Hear about insider strategies on decision-making, investment theses, and building firms for the long term—from the ground-level, VC to VC. Guests in season 1 include Ben Horowitz of a16z, Mamood Hamid and Ilya Fushman of Kleiner Perkins, and Alfred Lin of Sequoia. Turpentine VC is part of th ...
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EP 121: Snowflake CEO Sridhar Ramaswamy on the Future of AI and Data
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Nine months into his role as Snowflake’s CEO, Sridhar Ramaswamy sat down for a candid discussion on the journey so far & what’s ahead. He uncovered details about his transition to Snowflake CEO, the operational changes he’s put in place to accelerate product development, and his bold predictions for AI’s future—along with how he’s guiding a vision …
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Inside OpenAI's First Venture Round (Khosla), AI Leaderboards, and Regulatory Chess Games
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This is the second episode of This Won’t Last. The show is a monthly conversation between Logan Bartlett of Redpoint, Keith Rabois at Khosla Ventures, Kevin Ryan at Alleycorp, and Zach Weinberg, biotech founder (Curie.Bio) and investor. This episode covers Khosla’s initial investment into OpenAI, runaway AI CapEx, long-term AI leaderboards, and reg…
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E62: Wing's Chris Zeoli on AI Infrastructure Opportunities
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Wing Capital's Chris Zeoli discusses AI infrastructure trends, foundation models, data center challenges, cloud security, and Wing's strategic investments. For full show notes, visit: https://highlightai.com/share/6e5d9973-6c77-4ed2-aab7-355be82b9133 — 📰 Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveacc…
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EP 120: Evan Goldberg (Founder and EVP, Oracle NetSuite) on 26 Years of Operating Lessons Running NetSuite
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Evan Goldberg has been leading NetSuite for 26 years and counting. In this episode, Evan reflects on the journey of building NetSuite—from launching it with Larry Ellison’s support, to scaling through its IPO, and eventually being acquired by Oracle for $9.3B. He shares his leadership philosophies around humor and empathy, lessons learned from Larr…
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E61: Rabois, Bartlett, Ryan, and Weinberg on AI, Gambling, and Healthcare
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Keith Rabois, Logan Bartlett, Kevin Ryan, and Zach Weinberg share a rare anecdote about the first venture investment into OpenAI, lay out the bull and bear case for the leading AI companies and discuss regulatory chess games at play in American politics. For full show notes, visit: https://highlightai.com/share/8a2ea800-ab8a-4115-80c7-04c059d3fb10 …
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EP 119: Drew Houston (CEO, Dropbox): Reflections on the 17+ Year Battle Against Big Tech
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Drew Houston has now been CEO of Dropbox for over 17 years. In my latest conversation, he opens up about the pivotal leadership lessons he's learned, the mistakes that shaped the company, and the true challenges of going head-to-head with big tech. We also dive into the highs and lows of fundraising, how valuations can make or break a company traje…
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E60: How Lightspeed Invests in AI and Beyond with Arif Janmohamed
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This week on Turpentine VC, Erik Torenberg is joined by Arif Janmohamed, partner at Lightspeed Ventures to dive into the world of AI investment. They explore Lightspeed's evolution from a strong focus on enterprise early-stage investing to becoming a global multi-stage firm with a $7 billion capital reach. Arif shares insights on identifying market…
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E59: Mike Maples Jr. on Disruptive Investing
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Mike Maples Jr., Founding Partner at Floodgate, sits down with David Weisburd to discuss Mike’s new book “Pattern Breakers: Why Some Start-Ups Change the Future”. This is a masterclass on early-stage venture investing. Mike shares his views on identifying ideas and founders that led to his early investments in Lyft, Twitter, and Okta. They also cov…
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Vertical AI Deep Dive with OMERS Ventures
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Our Guests: Marissa Moore, and Taku Murahwi of OMERS Ventures, an early-stage venture capital firm investing in Series A-C companies with a first cheque size between $5-25M. Episode Topics: OMERS Venture’s investment criteria. Type of founders Marissa and Taku prefer. How does OMERS Ventures conduct due diligence on a company founder? Overview of M…
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E58: Roger Ehrenberg on Mastering Seed Investing
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In this episode of Turpentine VC, we’re releasing one of our most popular interviews with Roger Ehrenberg, owner of IA Capital Partners and the Managing Partner of Eberg Capital. Roger discusses his contrarian strategy to seed investing that has allowed him to generate 10x fund returns, and emphasizes the importance of focusing on concentrated port…
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Anish Acharya, General Partner at Andreessen Horowitz, dives deep into the transformative potential of AI in the consumer technology sector. Anish discusses a16z’s "Abundance Agenda," detailing how AI is set to revolutionize personal finance, education, wellness, and social interactions. From the concept of "self-driving money" to AI-powered compan…
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EP 118: Will Gaybrick (President of Product and Business, Stripe) on Capital Allocation, Org Design, AI, and Global Growth
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Will Gaybrick joined Stripe as CFO after investing in the company at Thrive Capital. Over the past 9 years, now as President, he's helped grow Stripe's into one of the world's largest private startups. In this episode, we explore his impressive career journey—from Harvard Math to software engineering, Yale Law, venture capital, and now his leadersh…
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E56: Upfront Ventures' Mark Suster on Fund Management and the Exit Landscape
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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…
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EP 117: Parker Conrad (CEO, Rippling) His Opinion on Founder Mode, Fundraising, and VC Advice
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Parker Conrad has spent the last 8 years building Rippling into a $13B company, marking his redemption after being ousted from Zenefits. In his second appearance on the podcast, Parker and I discussed Paul Graham's "founder mode" essay and how he operationalizes it at Rippling. He also reflected on the key lessons he's learned throughout his career…
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E55: Keith Rabois, Logan Bartlett, Kevin Ryan, and Zach Weinberg Dissect the Current Funding Climate
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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 ventur…
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Is Founder Mode Insightful? Plus AI Valuations, Unrealized Gains Tax, and Putin's Telegram
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This is the debut episode of This Won’t Last, a monthly conversation between Logan Bartlett of Redpoint, Keith Rabois at Khosla Ventures, Kevin Ryan at Alleycorp, and Zach Weinberg, biotech founder (Curie.Bio) and investor. This episode covers Founder Mode, the state of VC fundraising, the potential for an unrealized gains tax, and Russia’s influen…
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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, …
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EP 116: John Fieldly (CEO, Celsius) How He Saved Celsius From Near Bankruptcy to a $10B Company
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Many know Celsius as a top energy drink brand today, but few are aware of the tumultuous journey CEO John Fieldly took to get it here. In the episode, John shared how the company nearly went bankrupt multiple times, lost 50% of its revenue overnight and even got delisted from the NASDAQ. Despite these challenges, John stepped up to rebuild the bran…
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E53: Tomasz Tunguz on the Evolution of the Data Ecosystem
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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, discusse…
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EP 115: Josh Wolfe (Co-Founder, Lux Capital) On Uncovering Hidden Opportunities
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Josh Wolfe, co-founder and managing partner at Lux Capital, is a master at quickly understanding complex, emerging technologies. In our conversation, Josh shared how he identifies the next big thing, his contrarian views on nuclear energy, biotech, and robotics, as well as his thoughts on the state of the venture capital market today. (00:00) Intro…
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E52: Charting the Course of Biotech with Laura Deming, GP of Longevity Fund, and Will Eden of Sylvan Consulting
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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 se…
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EP 114: Emery Wells (CEO, Frame.io) on Selling to Adobe for $1.3B, Working with SNL and High Pain Tolerance
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Emery Wells is the co-founder and CEO of Frame.io, which he sold to Adobe in 2021 for nearly $1.3 billion. In our conversation, Emery shares his journey from NYC bartender to startup founder, including his agency work with Saturday Night Live that highlighted the pain points that led to Frame.io. We dive deep into his rejection of the lean startup …
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E51: Seth Bannon on Deep Tech, Biotech, and VC Strategies
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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 signi…
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EP 113: Dara Khosrowshahi (CEO, Uber) Lays Out the Path to Autonomous Vehicles
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Dara Khosrowshahi runs one of the most complicated businesses in the world, Uber. Since taking over in 2017 Dara has led the company to profitability against all odds. In this episode, we touch on a number of things including Uber’s position on the future of Autonomous Vehicles (AVs), the challenges that were overcome in making Uber profitable, and…
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E50: The Future of Crypto with Diogo Mónica of Haun Ventures
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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 benefi…
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EP 112: Mike Maples (Founding Partner, Floodgate): What Makes Startups Win & The Future of Venture Capital
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Mike Maples is an 8x Midas List investor and founding partner at Floodgate Fund. In our conversation, we dive into his latest book, "Pattern Breakers: Why Some Startups Change The Future." Mike shares his frameworks on how top startups beat incumbents by redefining categories, and he reflects on his worst and best decisions. We also discuss what th…
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E49: Long Journey's Strategy for Chasing "Magically Weird" Companies
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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 emphasiz…
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EP 111: How Josh Reeves (CEO, Gusto) Built a $10B Company Serving Small Businesses
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Josh Reeves has built Gusto into a nearly $10B company with over $500M in ARR, serving small businesses. In our conversation, Josh delves into Gusto’s 13-year journey, sharing insights on how they achieved product-market fit by initially targeting a very narrow niche. He also highlights the tactics they’ve used to build an intentional culture of hu…
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E48: Building Notable Capital (fka GGV Capital): Insights from Glenn Solomon
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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 approac…
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E47: Index Ventures' Mike Volpi on AI, Open Source, and Evolution of VC
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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 …
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EP 110: How Eric Glyman (CEO, Ramp) Runs One of The Fastest Growing Startups
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Eric Glyman (CEO, Ramp) shared his operating playbook for leading one of the fastest-growing startups on his second appearance on the podcast. We also explored the unique ways Ramp leverages AI internally, strategies for startups to build moats in AI, and the concept of self-driving money. We concluded with one of the most profound and thoughtful d…
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E46: Vinny Pujji on Leveraging 3rd Order Analysis to Pick Winners for Left Lane Capital
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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 incl…
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EP 109: Sebastian Siemiatkowski (CEO, Klarna) on the Future of Klarna, Valuation Changes and AI in Finance
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Klarna CEO Sebastian Siemiatkowski led the rise from a profitable business to their peak $50 billion valuation, in which they were burning $150 million a month. In my latest episode, Sebastian shares how he turned Klarna back to profitability and discusses Klarna’s ongoing pursuit of creating a digital financial assistant. He also reflects on their…
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E45: Sequoia Capital's Roelof Botha and Jacob Helberg on AI and National Security
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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 t…
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E44: How Benchmark Invests in AI with Eric Vishria and Quilter Founder Sergiy Nesterenko
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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 sol…
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EP 108: Olivier Pomel (CEO, Datadog) Shares Every Lesson From Scaling to $40B
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Olivier Pomel built Datadog into a $40B company while burning only $25M in capital. In our conversation, he shares the fundraising lessons, operating principles, and core insights that made this possible. He also discusses the pros and cons of building a tech company in NYC, how early-career professionals should approach learning AI tools, how Data…
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E43: Benedict Evans on Automation Crypto, VR, and Predicting the Future of Tech
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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 …
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EP 107: Steve Kaufer (Co-Founder, Tripadvisor) - Why He Left & What He’s Building Now
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Steve Kaufer led Tripadvisor to multi-billion dollar success over a 20+ year run as CEO. He discusses getting acquired and spun out from IAC, becoming a public company CEO, and his biggest operating lessons from his decades-long journey. Steve also shares behind-the-scenes of his new venture, Give Freely, and reflects on his entrepreneurial path. (…
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E42: Naval Ravikant and Balaji Srinivasan on Why History Points to Crypto
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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://choose…
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EP 106: How Bill Shufelt (CEO, Athletic Brewing) Built Athletic Brewing - Every Plot Twist Along The Way
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Since 2017, Bill Shufelt (CEO, Athletic Brewing) went from hedge fund trader to the CEO of the leading producer of non-alcoholic craft beer. Unlike the typical tech-focused chats, this one centers around a product many have fallen in love with. In the conversation, Bill tells stories of the unscalable but crucial strategies he used to build a brand…
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E41: Do VCs Add Value? With Parker Conrad and Parker Thompson
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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 CE…
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EP 105: Vlad Tenev (CEO, Robinhood): The Meme Stock Crisis, The Future of Crypto, and AI Opportunities in Finance
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In the midst of meme stock craziness, Robinhood CEO Vlad Tenev shared his most eye-opening insights from running the company that transformed the game for retail investors. He talks about Robinhood’s new Gold Card, his views on crypto, the media side, how artificial intelligence could change finance, and more. (00:00) Intro (03:27) The Origin of th…
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E40: Venture, AI, and the Defense Industry with Joe Lonsdale of 8VC, Josh Wolfe of Lux Capital, and Matt Steckman of Anduril
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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 L…
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EP 104: Sam Altman (CEO, OpenAI) talks GPT-4o and Predicts the Future of AI
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On the day of the ChatGPT-4o announcement, Sam Altman sat down to share behind-the-scenes details of the launch and offer his predictions for the future of AI. Altman delves into OpenAI's vision, discusses the timeline for achieving AGI, and explores the societal impact of humanoid robots. He also expresses his excitement and concerns about AI pers…
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E39: Navigating the AI Supercycle with Will Summerlin of Autopilot
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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 startup…
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EP 103: The Untold Story of Marcus Ryu (Co-Founder Guidewire & Partner at Battery Ventures) Scaling to $10B and Diving into VC
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After 18 years leading Guidewire (~$10B), Marcus Ryu made the transition from CEO to partner at Battery Ventures. In the episode, Marcus shares his journey of co-founding Guidewire in 2001, steering the company through its IPO in 2012, and building one of the largest vertical software businesses in the world. He shares his insights on how to build …
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E38: Turpentine Fund Brainstorm with Alex Edelson of Slipstream
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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, fun…
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EP 102: Armon Dadgar (Co-Founder, HashiCorp) Reflects 48-Hours After Selling to IBM
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After last week’s announcement that IBM is acquiring HashiCorp for $6.4B, HashiCorp co-founder Armon Dadgar discussed a few behind-the-scenes elements of the acquisition and HashiCorp’s full journey from the early days. Armon shares some of his biggest lessons from the journey, from fundraising to community building and more. (00:00) Intro (01:17) …
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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 …
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EP 101: Andrew Bialecki (CEO, Klaviyo) on Building a $6B Software Company - Klaviyo’s Uncharted Path
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Before Andrew Bialecki took Klaviyo public and scaled the company to $6B, he bootstrapped it to over $1M in ARR. In our discussion, Andrew reveals his philosophies around fundraising, finding the best talent, cultivating entrepreneurship inside Klaviyo, scaling culture, and more. (00:00) Intro (01:13) Klaviyo's Bootstrap Beginnings (09:37) The Stra…
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