00:00 Nick Kokonas, CEO at Tock & Co-Owner of Alinea Restaurant Group 00:54 How Nick got into restaurants & met his co-founder Grant Achatz 09:30 Nick’s Angel investments 10:50 Ourcrowd – Check out the deal of the week at https://ourcrowd.com/twist 12:14 What OpenTable got wrong 18:05 Tock’s ticketing innovation 23:20 Benefits of having pre-paid reservations 25:00 Pipe – Start trading for free for 12 months at https://pipe.com/twist 26:40 Dynamic pricing in restaurants 28:55 Nick critiques Jason’s techniques to get a reservation 35:32 Why some Maître d’s hate Tock 38:22 Drata – Get 15% off SOC 2 and other audit at https://drata.com/twist 39:41 Digital checkouts at restaurant tables 44:50 Why tipping should be eliminated & what obstacles stand in the way 50:54 Will high-end restaurants keep doing delivery? 56:16 Hospitality labor supply 1:00:27 Inflation 1:02:42 How Alinea is handling vaccinations & employee health 1:07:18 Alinea’s signature desert 1:12:10 Nick’s core lessons as an entrepreneur 1:20:45 Mock meats
00:00 Intro- Glenn Kelman from Redfin 01:25 How Jason and Glenn met 03:11 Jason’s experiences with being approached in public 05:05 Glenn’s take on the housing current situation 08:02 The impacts of WFH on the housing industry 09:25 Why investing in housing could have been the solution to high prices 11:07 Indochino- Get $50 off of $399 or more by using code TWIST at indochino.com 12:35 Effects of building more housing as a way to limit home price appreciation 16:26 The argument on density being better for progressive’s neighborhoods 19:09 Areas that are pro-development and are booming because of it 21:00 Canada as a progressive area for housing and tech workers 23:43 Glen’s thoughts on San Francisco as a livable city and office location 26:50 Calm- Get one month free after attending a free demo when you go to Calm.com/TWIST 28:22 Discussion around putting efforts into office buildings and working from them 32:54 Jason asks Glen what companies lost from staying in a work from home setting 35:24 A discussion around work-life balance and generational differences 38:15 Notion- Use TWIST to get $250 off an annual team plan at https://Notion.so 39:53 Jason on debt and Glen on the cynicism of capitalism and its impacts on housing 42:22 The difference in lifestyle when having $100M vs $100B 46:52 Redfin, employing their own agents full time and other changes to improve efficiency 55:13 Jason asks Glen what it was like for Redfin to go from struggle to success 58:33 Glen and Jason discuss a controversial topic covering the DOJ and MLS 1:03:03 Nondisclosure states and why people still use listing agents 1:05:20 A breakdown of the DOJ case with the National Association of Realtors 1:10:17 The impacts of speaking to reporters and the press as an entrepreneur
00:00 Intro Allen Chen, CEO of Fitbod 01:06 How Allen and Jason met 05:11 Fitbod Origins 08:19 Fitbods approach to connecting with customers 10:31 Organic Growth vs Paid Growth 11:42 LinkedIn – Post your first job for free at https://linkedIn.com/twist 13:15 The secret to paid marketing 15:33 Fitbod’s history of onboarding and their revamp 17:44 The importance of gaining a users trust 20:12 Allen being the ideal customer profile for Fitbod 21:33 Allen’s advice on having a strong funnel and finding the right audience 24:10 Odoo – Get your first app free and a $1000 credit at https://odoo.com/twist 25:22 The outlook on affiliate, influencer, and referral marketing 29:14 The plan to jump from 225K paying customers to 3x revenue 31:27 Jason explains his term “pegasus” and how it relates to Fitbod 33:42 Allen covers Fitbod’s opportunities for raising in the future 35:05 Jason gives Allen an “unsolicited offer publically” of $5M 35:42 Bubble – Get one month free of a no-code plan at https://bubble.io/twist 37:11 Allen asks Jason advice on getting his team to see liquidity 44:48 Jason explains the advantages of a corporate buyback and options to skip dilutions 46:30 Fitbod is hiring across all positions 48:35 Allen’s experience with YC
00:00 Intro Ben & David from Acquired 00:56 David’s new fund Kindergarten Ventures fund 14:45 The costs of operating a fund & how David is doing it 18:49 Why LPs care about pro-rata 25:29 The scale of Jason’s syndicate & value VCs bring 30:17 Jason’s preemptive pro-rata strategy (Sequoia does this too) 35:50 The podcast strategy 39:23 Why All-In works 43:15 Jason’s investing goals 52:39 VC scout programs 56:11 The Mount Rushmore of Venture Capital
00:00 Alex Wilhelm from TechCrunch 00:45 Intro 03:40 IPO dynamics: Robinhood & Duolingo 12:34 Linode – Receive a $100 cloud credit at https://linode.com/twist 14:04 Robinhood IPO, what’s the strength of the business? 20:53 Duolingo the success of DTC edtech 23:35 LinkedIn Jobs – Post your first job for free at https://LinkedIn.com/TWIST 25:09 Can consumer subscriptions continue to succeed 28:25 Google’s growth (at what cost) 33:05 Why companies are more efficient early on 37:24 Masterworks – Skip the waitlist at to invest in art using promo code TWIST at https://Masterworks.io/twist 38:51 Startup fundraising environment 42:46 Amazon’s rapid growth 47:35 China’s actions on Tech & Bitcoin 1:04:19 Apple talk 1:12:32 Why tech companies are vertically integrating 1:14:05 Digital Acceleration & going back to work
00:00 Intro – Nikola, Robinhood & Brandon Brown from Grin 01:50 News – Trevor Milton indicted for fraud at Nikola 12:12 Pipe – Start trading your companies recurring revenue for cash now, free for 12 months at https://pipe.com/twist. 13:23 Lessons for investors 18:55 Robinhood IPO today 24:10 Twilio – Get $500 in credits at Sign-up now at https://TwilioStartups.com/TWIST 25:43 Interview – Brandon Brown, CEO of GRIN 27:48 Why influencer marketing works 37:20 Embroker – Get an extra 10% insurance for your business at https://Embroker.com/twist. 39:00 What influencers earn with partnerships 43:13 How companies use GRIN 51:04 How brands run large scale creator programs 54:19 How advertising is evolving
We had a chance to chat with a leader in the NFT space, powering $170M+ in transactions a month.
00:00 Intro – Google earnings & Devin Finzer 03:22 News – Google’s earnings 12:22 Drata – Get 15% off your SOCS2 and waived implementation fees at https://drata.com/twist 13:48 YouTube’s ad growth 19:16 Google’s return to work policy 25:30 LinkedIn Jobs – Go to https://LinkedIn.com/unicorns to post your first job for free 27:01 Interview – Devin Finzer, CEO of OpenSea 36:47 Odoo – Your first app is free forever get a $1000 credit at https://Odoo.com/twist 37:58 How NFTs moved into the main stream 49:20 How OpenSea manages authenticity on the marketplace 54:25 What NFTs will look like in 10 years
I cover China’s increasing penalties for Didi , Twitter’s test of a downvote feature, and how the UAE was able to induce rain with electricity. Then Do Kwon, the founder of Terraform labs joins to discuss his stable coin project TerraUSD, the underlying cryptocurrency LUNA, and shed light on Tether as crypto insider.
00:00 Start 02:52 News – China increases the pressure on Didi for “data privacy” 10:33 Dell – Sign up for a free IT consultation and a 5% off coupon at https://launch.co/dell 12:13 Twitter tests up/down voting tweets 17:32 UAE figures out how to make it rain with electricity 21:02 Notion – Go to https://Notion.so and use promo code TWIST to get $250 off the annual team plan 22:38 Interview – Do Kwon of Terraform Labs 27:14 Why you can’t build decentralized finance with centralized stable coins 31:18 What is an algorithmic stable coin? 35:26 Vanta – Automate your SOC 2 report, get $1,000 off at https://vanta.com/twist 37:02 Why did Terra’s price fluctuate as a stable coin? 43:46 What Do thinks China’s strategy is re: crypto 59:56 What is going on with Tether?
Improving sleep is a massive market opportunity. It has fueled Oura’s growth as well as other companies like Calm.com.
“99.9% of Americans will try to sleep tonight, but only 10% will exercise per day.” – Harpreet Rai
For optimal health, you want a low resting heart rate (your heart is strong and you are relaxed when you sleep) and high heart rate variability (your body is adaptive).
Most hardware companies try to raise too much money early, which sets expectations too high. It’s better to test and iterate. Hardware development timelines are too long and risk of delay is too high to keep momentum when over-capitalized.
Employers have used Oura to keep their employees safe in COVID, sensor technology can often detect sickness before symptoms are felt.
Sleep has been a major driver for customer adoption of the Oura ring.
There is a limit to productivity if you are not getting good sleep.
Poor sleep reduces your critical thinking ability. The quality of your decisions matters. For example, “if you’re a PM at a software app, making the right decisions on data analysis or UX flow can lead to dramatically different outcomes.”
“99.9% of Americans will try to sleep tonight, but only 10% will exercise per day, and only 15-20% will work out each week.” – Harpreet Rai
Reaching your lowest resting heart rate requires both physical and mental relaxation. When you are relaxed, it reduces stress on the autonomic nervous system (the vagus nerve that connects your brain and your body).
Research shows that when you get sleep that leaves you well recovered and well-rested, you’ll normally reach your lowest resting heart rate sort of midway through the night.
Heart rate variability
Heart rate variability (HRV) is the variation between every single heartbeat.
High HRV is a good signal; it means your body is more responsive and capable of adapting to situations. Low HRV is indicative of stress, smoking, and poor health.
Affordable, compact sensors precise enough to measure HRV are a recent advancement.
Electrical signals, breathing, temperature, and movement can indicate which stage of sleep you are in (Light, Deep, Rapid Eye Movement (REM), Awake).
Oura regularly monitors the temperature of the skin, HRV, respiratory rate, and other signs. Together these signals can typically detect stress and sickness before the wearer.
For frontline health care workers, Oura donated 2000 rings and had a sponsor donate another 1000 rings to hospitals across the US.
The team used early research and findings to create an algorithm rolled into an enterprise application, “Health Risk Management.”
Oura partnered with the NBA, UFC, NASCAR, Red Bull Racing, Las Vegas Sands, and others for COVID monitoring using their Health Risk Management platform.
Oura’s cost is low compared to shutting down the economy, daily testing, or high cost of human health.
Most organizations can’t afford a test every day (they weren’t even available), the Las Vegas Sands used Oura to monitor the health of their employees and then used Oura data to prioritize those who got tests.
Test and iterate. Make sure you have product-market fit, then when you are more confident, raise more capital.
Many hardware companies aggressively raised capital, but with an aggressive raise comes high expectations. Physical products have a longer development cycle than software, so investors accustomed to software performance will be disappointed.
Companies like Jawbone fell victim to this dynamic.
Here are the upcoming dates for our Angel University courses:
April 19: Washington, DC (hosted by Riverbend Capital)
April 23: Boston, MA
April 24: New York City (supported by EquityZen)
April 26: Columbus, OH (hosted by WillowWorks)
April 29: Miami, FL
June 17: Sydney, Australia
July 15: San Francisco
The Angel University curriculum is designed for everyone, from angels who haven’t done a deal yet to seasoned angels who have done over 100. We cover five key topics: sourcing deals, evaluating startups, negotiating deals, portfolio and bankroll management, and post-deal efforts. It’s a ton of fun.
The tour workshops are four hours and are followed by dinner. Seating is limited to 50.
PS – Thanks to Riverbend Capital for hosting us in DC, WillowWorks for hosting us in Columbus, and EquityZen for supporting us in NYC. If your company or local trade organization wants to host us in Boston, New York or Miami (or another city!), please email angelu[at]launch.co and let’s talk.