Taz Patel

Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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Great time on the Embracing Erosion podcast w/Devon O'Rourke! We talked about: 🚀 How to scale a company from concept to 9-figure exit 🔄 How to break away from the traditional consulting model and apply product approaches ⏩ Why it’s important to iterate quickly and often with messaging 💸📈What signals are important to pay attention to when investing in startups and much more!

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Team San Diego! I though you may find this as surprising as I did...we are not alone. Read this quick article from Jon Prentice's (Silicon Valley Bank) interview with with James Newell (Voyager Capital), published in GeekWire on Seattle's innovation ecosystem....they lament the SAME issues as we do in San Diego: * Lack of angel investors, (Especially, it calls out, given the local giant tech co's) * "We need low-conviction check writers." * Lack of "cachet associated with being an angel investor" - We have similar efforts (as described in the article) to drum up angel activity: NuFund Venture Group and, Interlock Capital (read the article and you'll see why the Interlock effort is tops as relates to "paying back into the ecosystem") Connect.org strives to 'connect' innovative companies with investors of all types (angel, VC, PE...) - just see "Innovation Day". Their Springboard program provides another great way for experienced entrepreneurs to give back through mentorship...as for the companies going through Springboard: "Ask for advice, and you often get $$" Your thoughts on the article or San Diego innovation ecosystem? https://lnkd.in/gfwq6mfq

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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And my second investment at defy is in 🐶 zeroETL puppies 🐶... I mean PuppyGraph, which is all the beauty of a graph database, none of the data migration or continuous upkeep of a graph database. Sounds like magic? So are puppies 🐶 . Puppygraph is NOT a graph or a database. It is graph analytics engine that answers graph questions on your existing data warehouses, whether that is a Databricks datalake, Google BigQuery or postgres. Compared to SQL, it's faster, handles way more complexity, scales and has almost no upkeep. How did I get to conviction? 1. Tailwinds - 🌊 Lakehouses 🌊 have helped enterprises put all their data in one place, enabling Puppygraph to unlock insights previously unavailable. - 📚 LLMs! 📚AI and RAG cannot easily traverse fragmented data. Puppygraph's Graph RAG unlocks insights with their Knowledge Graph and spoonfeeds to the LLMs. 2. 👯 Team 👯 We have graph experts from Google, LinkedIn, Databricks, Tigergraph, and Instacart who are uniquely able to build this solution. 3. 💸 Customers 💸 . My alma mater Coinbase is a proud user. The feedback from my former colleagues was off the charts! A blockchain is very much a graph database and Puppygraph tracks down fraudulent transactions that go through mixers and helps identify patterns. Huge congrats to Weimo Liu Danfeng Xu Lei Huang Zhenni Wu Gary Hagmueller, defy.vc is proud to be an investor!!

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An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

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That's why it's often very difficult to recognize new leaders – their ideas go beyond the conventional frameworks we're accustomed to. Keep your mind open. Don't let yesterday's templates define your future. #Leadership, #Innovation, #OpenMind, #FutureThinking, #venturethinking,   https://lnkd.in/eASPGsuu

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🐺🚨🚀Three years ago, we launched Pack Fund I. Today, we launch Fund II with some big news from U.W.!🚨🚀🐺 We are now a Preferred Venture Partner of the University of Washington and CoMotion at University of Washington! After three years of hard work, during which we backed 29 startups, mentored on campus, and sponsored entrepreneurship clubs and competitions in the UW Foster School of Business and Paul G. Allen School of Computer Science & Engineering, we are thrilled to be taking our collaboration with U.W. to the next level! On the back of this news and early successes, we are hosting a webinar for accredited and interested L.P.s to learn about joining Fund II - https://lu.ma/pbwih7xa What Is the Latest On Fund I? - 26 companies backed in 3 years - 12 have raised additional funding at higher valuations - $135M+ in additional funding and grants - Invested alongside Madrona, FUSE, Khosla Ventures, Y Combinator, Pioneer Square Labs, Trilogy Equity Partners, Cercano, Washington Research Foundation, and dozens of other top investors. - Supported founders in Software, Life Sciences - Recognized as a top 5 most active life science investor in the PNW in 2022 - 80+ L.P.s supported our vision How is Pack Fund II Starting? - Ti Zhao joined full-time - let's go!!!! - Agreement (M.O.U) signed with U.W., making us a preferred venture partner - 2 investments alongside top VCs - 50+ L.P.s already joined - Fund II is larger than Fund I already - Hundreds of companies reviewed already See the news from U.W. here -https://lnkd.in/girhA3BM GeekWire and Taylor Soper covered our vision masterfully here - https://lnkd.in/gHYFAxzY Thanks to all of the Pack members and founders who have been on this journey with us!

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I am honored to host Nolan Bushnell for a fireside chat at TechCon SoCal 2024 in San Diego on May 24th. We'll discuss how his innovations at Atari laid the groundwork for today's tech landscape and what lessons we can draw for the future. 🌟 Why Nolan Bushnell is a Must-Hear for Every Tech Enthusiast🌟 🕹️ Pioneering the Video Game Industry: Bushnell's creation of Atari and the iconic game Pong marked the beginning of the video game era, democratizing technology through entertainment. By democratizing technology through entertainment, Bushnell made electronics and computing accessible, inspiring a generation and catalyzing the tech ecosystem. 👔 Redefining Startup Culture: Bushnell invented a new breed of Silicon Valley entrepreneurs: visionary, bold, and nonconformist. His management style and the work environment he fostered at Atari—including laid-back elements like beer and ping pong—helped set a template for Silicon Valley's informal and innovative corporate culture, influencing giants like Google and Facebook. 🌱 Innovating Venture Capital: Bushnell became a crucial pivot in VC history by becoming the first example of how new business models over technology advancement become VC "fundable". Sequoia Capital's first seed investment concept in Atari demonstrated the profitability of supporting early-stage consumer tech businesses. It broadened VC horizons to include software and entertainment, impacting how venture capital operates today. 🚀 Driving Silicon Valley's Evolution: The Foundation of Silicon Valley was Arthur Rock funding Fairchild Semiconductor & Intel, establishing the semiconductor industry, and putting the silicon in Silicon Valley. The expansion phase was Don Valentine's investment in Atari, expanding the focus from hardware to software and entertainment, creating the video game industry, and expanding Silicon Valley's tech ecosystem. Bushnell's role enabled the Transformation Phase of Silicon with the 1980 IPOs of Apple and Genentech, showcasing SV's innovation breadth across multiple sectors. 🔗 Enabling Icons: Bushnell provided Steve Jobs, who did not have a college degree, with his first job inspiration for the idea of bringing computers to home users, invaluable introductions and opportunities, and influenced the birth of Apple. 🎮 Inspiring Future Innovators: By integrating fun into computer use, Bushnell likely accelerated technological innovation by making computing appealing to those who might not have otherwise engaged with it. His work at Atari made the daunting world of computers relatable and exciting, inspiring many future founders and technologists. Nolan's influence is evident in the increased computer literacy and the surge in tech-driven career interests among the youth of his time. Connect with over 80 early-stage investors and hundreds of founders from San Diego, the Bay Area, Austin, Denver, and New York. Explore more about the event at https://lnkd.in/gTYMN65n

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I enjoyed going on Nick Telson-Sillett’s podcast, Pitch Deck by Forward Pursuit. Nick is a serial founder and investor (founded and exited DesignMyNight) so knows both sides of the table which always makes for an enriching chat. Some things we discussed: - The perceived power dynamic between VCs and founders can hinder productive conversations. - A compelling product demo can significantly influence investor interest. - Founders must focus on solving real customer problems to succeed. - Hiring standards are crucial for building a successful startup team. - Behavioural roadblocks can prevent the adoption of new solutions. - Validation from potential customers is key for pre-revenue startups. - The early-stage funding landscape has become more efficient and selective. - Pace of execution is a critical factor in attracting investment.

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🌟 California--not just Hollywood + SaaS! 🌟 Some find it vogue to "hate on" the Golden State, but founders there are saving us all... In just a few days, I saw this across three cities: 🚀 San Diego at DIBC | Defense Industrial Base Consortium - visionaries like John Maslin at Vulcan Elements and Mike Grubbs at Safire Technology Group, Inc. are rethinking the essential inputs that "power" life (🔋⚡ ) 🌴 LA at #DeepTechWeek - met some civic-minded legends like Tom Cwik CTO of NASA Jet Propulsion Laboratory, spent time in storied #TheGundo where founders like Picogrid's Zane Mountcastle and Antares' Jordan Bramble are quietly tackling the world's great challenges, and investors like Fulcrum Venture Group's Andrew Bartholomew and ecosystem builders like Jay V. are aligning tech w/ public interest. 💻 SF - investors "thinking outside the box" on what it takes to back critical tech, like luminaries at Lightspeed Taggart Bonham and Raviraj Jain. Capped it off with friends at Council on Foreign Relations where Rich Wong and Ben Quazzo and the amazing team at Accel convened a community of likeminded peers (incl. rising policy + tech stars like Maggie G.!) committed to advancing U.S. foreign policy. Hard to say how to solve the country's great challenges. One thing is for sure: IT TAKES A VILLAGE. California is definitely doing its part!

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Wei D. (Founder and CEO of unicorn Clipboard Health) dropped some major 💎 gems of wisdom during her fireside chat with PearX founders at Pear VC SF Studio yesterday. These really resonated: 💎 PMF isn't something you achieve once - staying relevant to your market is an ongoing pursuit 💯 (Wei shared that to date she still LOVES talking with customers and - even at 1000+ employees and with all the success already achieved - she continues to chase unlocks for the business and recently obtained her nursing assistant certification in order to stay close to users and unlock new insights with them 🥇) 💎 If you're scared of sales, don't think of it as sales -- you're just talking to someone who you're trying to help. Approach your customers with care and listen to them as you would a friend. The moment it's an actual conversation with a friend, that's probably where you're going to get your first sale. If it feels "salesy" you're probably not doing it the right way. 🤝 💎 Do whatever it takes to get in front of your customers! (For Wei this meant driving around at 8 months pregnant and walking up to DMs at nursing homes!) 🚗 💎 The users you speak with in your market will give you the key jargon you need to use to speak back to your market. Listen intently and adopt their language! 🗣 💎 There is little you decide that can't be undone. Be smart, make calculated decisions, but don't overthink things --- err on the side of action and quick decision making. 🏃‍♀️ 💎 Iterate until your users feel passionately about what you're doing (ie. they get angry when the product is down or doesn't work). You want your users to care A LOT about the problem you're solving. 😡 Wei's resilience, grit and work ethic are off the charts. What an inspiration! 👏 #femalefounders #inspiration #techfounder #unicornfounder #hero

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Amongst the most successful VCs in consumer in the past decade has been Kirsten Green at Forerunner So I asked her all about how startups can navigate the 70% reduction in consumer investing & why now might be the best time for VCs to look harder at the category. I loved this discussion. I always learn something from Kirsten. Click below to watch / listen https://lnkd.in/g3kiMPD5

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Congrats to the Revive team for the latest fundraise led by Equal Ventures, as well as the new brand! I’ve had the honor of working with Allison Lee (Founder/CEO) and team for almost six years as their first institutional investor. My gosh, it’s been an incredible–and at times harrowing–journey… ‘Revive’ is such an appropriate name for this company, on multiple fronts. First, it describes the core business well, where this platform helps large retail apparel brands to upcycle garments and deadstock into new products, thereby substantially reducing apparel waste. But it also accurately describes Allison Lee herself. Allison is one of the most resilient humans I’ve ever met, and she’s gone through hell and back to create this outstanding company. When we were first introduced to Allison in 2018 (thanks Bebe Kim for that intro!), Allison was a solo founder experimenting with mall kiosks that provided on-demand hemming services for retail apparel consumers. Over the years, Hemster (the name of the co back then) scaled up to become a substantial business, with her own warehouses and staff to handle hemming for top apparel brands throughout the US. But then the pandemic happened. Brand clients budgets collapsed, along with her business model, and Allison had to reduce her team down to just one person. Herself. This was a dark time. I remember reaching out and attempting to check in with her during a six-month period where she was at her loneliest as a founder. She pretty much locked herself in her apartment, mulling new directions for her company by herself. But she figured it out. In 2021, she saw that the consumer retail market was shifting as Gen Z was strengthening their purchasing power. This new generation of shoppers were more climate and sustainability conscious, and wanted to hold big brands’ feet to the fire for products that conformed to their values. Allison saw an opportunity to retool Hemster into a top platform to help facilitate upcycled products for apparel companies. And it worked! Allison breathed new life into her company and business has been growing quickly ever since. Her business’ thesis is even stronger and bigger than the one she initially launched with. Beyond her being a skilled founder and operator, Allison is also a fantastic human being. She is relentless and un-killable as a founder. And also so warm, kind, and present as a friend. I’m grateful to call her a friend today, as well as a role model. Allison’s journey is still in the early days with Revive, and no doubt she is going to build something that has a huge impact on this world. Hustle Fund is nothing but grateful that she said YES to us, and allowed us to be part of this amazing and inspiring journey. Congrats again, Allison and team!

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