In this episode, Erasmus Elsner is talking to Joseph Jacks, founder and general partner at OSS Capital, the first and only VC fund exclusively dedicated to supporting commercial open-source software founders.
We discuss the definition of commercial open-source software (COSS) companies and how open-source software is eating software.
This episode is about the tidal wave of startups which have been termed the direct-to-consumer (DTC) or digitally native vertical brands (DNVB). It's this fleet of niche brands, which are delivering products to consumers primarily online and outside of traditional bricks-and-mortar retail channels. It's the Warby Parkers, the Caspers and the Allbirds of this world. In this episode I'm introducing their business model and compare it to the more traditional Amazon-style online shop model. It's a long episode with lots of examples from the startup journey of firms like: Dollar Shave Club, Warby Parker, Away, Harry's, Allbirds, Casper, Wish, Brandless, Jet.com and Fab.
I listened to this great session with Jason Calacanis and Ben Haim, co-founder of JFrog, over the weekend. In this episode, I'm sharing what I think we can learn from it in terms of (i) building products before there's a market for it and (ii) the difficult fundraising journey that comes with it.
Tech builders don't like bean counters that's why Silicon Valley has fallen out of love with the public markets over the past decades. In the week of Uber's disappointing IPO, we have seen two of Marc Andreessen's "projects" take the next step in transforming market allocation of tech stocks: Carta raising $300m at a $1.7bn valuation to build the "world's largest marketplace for private companies" and Eric Ries' Long-Term Stock Exchange (LTSE) getting approval by the SEC to become the 14th regulated stock exchange in the U.S. I reflect on what this could mean to the way in which we finance innovation in Silicon Valley.
In this episode I'm discussing the revenue model of Robinhood, the famous fintech unicorn, popular with the millenial demographic. It appears that Robinhood is routing a substantial part of its trades to high frequency traders like Citadel and Virtu.
This was a crazy day in tech IPO land: Zoom was up 81% in the first day of trading and Pinterest up 25%. Zoom clearly stold the Pinterest show again, with a valuation of c. 16x it's last private valuation.