Mistral.vc

A Product Market Fit Show | Startup Podcast for Founders

Business EN ↓ 292 episodes

Every founder has 1 goal: find product-market fit. We interview the world's most successful startup founders on the 0 to 1 part of their journeys. We've had the founders of Reddit, Gusto, Rappi, Glean, Cohere, Huntress, ID.me and many more.  We go deep with entrepreneurs & VCs to provide detailed examples you can steal.  Our goal is to understand product-market fit better than anyone on the planet.  Rated one of the world's top startup podcasts.

Author

Mistral.vc

Category

Business

Podcast website

www.pmf.show

Latest episode

Jul 6, 2026

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Episodes

May Startup News: Elizabeth Holmes Returns, Billion-Dollar Frauds, & the End of Tech Jobs w/ Jack Kuveke 05.06.2025

Description: Jack Kuveke returns to unpack the wildest startup news this month: from billion-dollar frauds and crypto scams, to OpenAI’s secretive $6.5 billion gadget project with Apple’s design legend Jony Ive. We dig into why big-name investors keep missing red flags, and why AI might be crushing entry-level tech jobs faster than anyone expected. Keywords startup scams, OpenAI Johnny Ive, Elizab...

He hit $1M ARR in 10 months—after doing of a full, 180 pivot. | Merrill Lutsky, Founder of Graphite 02.06.2025

After two pivots and nearly running out of runway, Merrill Lutsky found insane growth—scaling Graphite to tens of thousands of daily users and millions in ARR. He reveals exactly how Graphite landed its first massive enterprise customer, doubled revenue overnight by changing pricing, and turned user feedback into  momentum.  Merrill shares hard-earned lessons on recognizing true product-market fit...

PMF Observations: Why passion is more important than you think 29.05.2025

Most early-stage founders get trapped in the chaos of endless tasks, there's always too much to do and not enough time. We go through the last 4 episodes to see what how the best founders prioritize. We also see why you can raise millions without real traction but can’t fake product-market fit, how positioning yourself for luck is as important as having a plan, why slow initial growth might b...

He didn't raise VC for the first 7 years— then grew to $1B in ARR. | Dax Dasilva, Founder of Lightspeed 26.05.2025

Dax built Lightspeed into a $1B ARR public company—even though he bootstrapped for the first 7 years. In this episode, he reveals exactly how he used a 4x pricing shift to create a global reseller machine that grew him to $10M ARR. He also breaks down why obsessing over design and deep customer empathy built the foundation for success.—and how stepping away from his comfort zone as an introverted...

Q1 2025: The Seed to Series A Gap is Wider Than Ever. Here's what to do. | Peter Walker, Head of Insights at Carta 22.05.2025

Carta just released their report for Q1 2025. Peter is Head of Insights at Carta, and the person who owns their data practice. We sit down to talk about the largest trends he saw across fundraising, industries, graduation rates and even hiring practices.  Carta data shows that graduation rates from Seed to A are as low as they've ever been. Bridge rounds make you even less likely to raise an...

He went from 0 to a $210M exit in 3 years—without inventing anything new. | Kazi Ahmed, Founder of Carbon6 19.05.2025

Kazi Ahmed took a small insight—seeing friends cash out from Amazon brands—and built Carbon6, a software roll-up startup, selling it for $210M just three years later.  But behind the quick success was a frantic scramble to survive. Aggressive acquisitions nearly ran them out of cash, forcing a brutal pivot from burning $1M per month to profitability and explosive organic growth.  This episode dive...

Forecasts are overrated—great founders build one step at a time. | PMF Observations 15.05.2025

I break down my top insights from recent conversations with four founders who won in unconventional ways. You’ll hear how Noah turned LinkedIn posts into his primary sales channel (without ever going viral), why Dan’s startup survived a brutal 95% downround but ended up at $400M ARR two years later, how Adam turned a stagnant $3M ARR business into a $25M cash cow by solving one overlooked customer...

He took on Robinhood & built Public.com into a $1B company with $440M raised. | Jannick Malling, Founder of Public.com 12.05.2025

Public co-founder Jannick Malling shares exactly how he grew his startup from a tiny beta to millions of users—and hundreds of millions raised. He reveals why fractional shares changed the game for user acquisition, how the company cleverly seized on the GameStop moment to explode growth, and why relentless product focus was critical to scaling quickly.  He explains the mindset shift needed to nai...

Adam Neumann Returns, SV Spies, AI Robots Rise | April Startup News w/ Jack Kuveke 08.05.2025

Corporate spies stealing Slack messages. Adam Neumann raising another $100M (for WeWork 2.0?). AI startups hitting $34B valuations with zero revenue and ordering Ben & Jerry's ice cream over 15 payments with Klarna on DoorDash.  April was wild, and Jack Kuveke joins the show to unpack the chaos, controversy, and insanity behind the biggest startup headlines.  This is different than our no...

1 year in he had just 3 customers—today he’s at $100M ARR. | Forrest Zeisler, Co-Founder of Jobber | Forrest Zeisler, Co-Founder of Jobber 05.05.2025

Forrest Zeisler spent 6 months hearing “no” from every potential customer he spoke to. One year in, Jobber had just three customers—paying $29/month. Today, Jobber generates over $100M ARR, has raised $180M in VC, and employs nearly 1,000 people. In this episode, Forrest shares the brutally honest story behind Jobber’s early days: months of rejection, maxing out credit cards, and nearly quitting....

He lost 90% of his users overnight—then grew his consumer app to $10M ARR. | Koen Droste, Founder of Polarsteps 01.05.2025

He turned a personal travel tracker into an app with 10 million users and $10 million in revenue, with almost no funding. He reveals how ignoring conventional startup advice—like launching early, chasing revenue, or partnering for growth—was key to their viral success.  He realized everything growth was about word-of-mouth. So the key to success was obsessing over a single metric: NPS.  If you’re...

He launched a “side-project”— now it’s used by 10% of all restaurants. | Jordan Boesch, Founder of 7Shifts 28.04.2025

Jordan Boesch started 7shifts as a teenager helping his dad manage restaurant shifts. Today, his software runs scheduling for 50,000 restaurants. This episode dives into how Jordan bootstrapped early growth, why relentless focus on solving real customer pain mattered more than funding, and how tight partnerships supercharged his expansion.  Jordan also shares hard-won lessons on managing burnout,...

1st-time founder grows AI headshot app from $0 to $10M ARR in 2 years—with no funding. | Wesley Tian, Founder of Aragon 24.04.2025

Wesley turned a simple AI headshot generator into a $10M ARR, profitable company—in just two years. He was fired from his job, broke in San Francisco, and, after getting rejected by 30 VCs, down to his last few thousand bucks. But Wesley saw a moment: generative AI was taking off, and no one was tackling AI headshots.  Fast-forward two years, and he’s doing $10M in revenue, profitable, with just 1...

He raised $30M & failed. Then raised $0 & grew to $550M in revenue. Here's what he learned. | Mike Salguero, Founder of Butcherbox 21.04.2025

Mike first raised $30M for a marketplace that never truly had product-market fit. Then he bet only $10K on ButcherBox. A few years later, he's doing $550M in revenue and he's profitable.  The difference is in his first startup he was just catering to investors— in his second one only to customers. If you’re an early founder chasing growth, listen to how Mike ditched vanity metrics, found...

He invested in 30 early-stage startups. Here's what he looks for in the founders he backs. | Gopi Rangan, Founder of Sure Ventures 17.04.2025

Gopi Rangan has invested in 29 early-stage startups from scratch. He shares a simple but powerful approach to picking the right VCs, structuring your pitch (long-term vision + short-term plan + fuzzy mid-term path), and proving you are the sort of founder every pre-seed investor craves.  If you’re raising a pre-seed or seed, Gopi’s tips will make your process faster, more targeted, and a lot less...

He raised $300M to prevent heart attacks. Here's how he got his health tech startup off the ground. | Dr. Min, Founder of Cleerly 14.04.2025

Cardiologist Jim Min watched too many 50-year-olds die with no heart-attack warning. He co-founded Cleerly to automate detailed coronary scans—no invasive procedures, no endless manual work.  Yet healthcare’s glacial pace, payers, and federal approvals all stand in his way.  Hear how he’s testing AI across thousands of patients, fighting for universal insurance coverage, and coping with near-burno...

He grew to $25M in ARR and $14M in annual profits—with no funding & no dilution. | Adam Robinson, Founder of Retention.com 10.04.2025

Adam Robinson once struggled with a stagnant email SaaS stuck at $3M ARR, but he kept experimenting until he found how to solve a problem no one else was tackling—and everything changed. Suddenly, buyers were begging for his identity-based marketing tool—so he spun out Retention.com and grew it to $14M+ in annual profit with no outside funding. In this episode, Adam reveals why he ignored “scalabl...

He took a 97% downround—then grew to $400M ARR & a $575M valuation in 2 years. | Dan Park, CEO of Clutch 07.04.2025

Dan Park joined Clutch when it was selling 20 cars a month . Then he grew it from $20M in 2019 to $200M in sales by 2022. He was one of Canada's fastest growing companies. Just as he was going to close a $100M round, the macro changed completely. Suddenly, he was left with only six weeks of cash. He was forced to go through a 97% down round at a $15M valuation. Just two years later, he not on...

He bootstrapped to $4M ARR in 2 years. Here's his LinkedIn playbook you can't ignore. | Noah Greenberg, Founder of Stacker 03.04.2025

Noah Greenberg grew a content-distribution product from zero to $1M ARR in just one year (and to $4M in 2 years) by focusing on a single channel most founders underrate: LinkedIn . He posted insights daily, highlighted key players in his industry, and made it impossible for prospects not to notice him. In this episode, Noah reveals the exact step-by-step playbook, including how to structure 3-mont...

He invested in 684 AI startups—& realized that quitters always win. | Jack Kuveke, Founder turned VC at Jabroni Capital 01.04.2025

We break down the real startup playbook: fake users, fake traction, real secondaries. From starting a company with zero customers, to raising millions and launching a VC fund that's built to lose money, Jack shares the blueprint for getting rich (without working hard).  Forget chasing product-market fit.  Start chasing growth, money, and, most of all, hype. Why You Should Listen Why you need...

The secrets to mastering product-led growth. | Wes Bush, Author of the #1 Bestselling Book on Product-Led Growth 27.03.2025

Wes Bush wrote the original bestseller on Product-Led Growth —and then watched everyone try to copy Dropbox and Slack without truly getting it. Now, he’s here to break down exactly what goes wrong when early-stage founders jump into PLG, how to spot your product’s “million-dollar free problem,” and how to fix the three biggest onboarding gaps that sabotage new users. He’ll show you why some sales-...

He sold SkipTheDishes for $200M—then grew Neo Financial to a $1B valuation. | Jeff Adamson, Co-Founder of NeoFinancial & SkipTheDishes 24.03.2025

Jeff Adamson co-founded SkipTheDishes , scaled it to 80% market share , and sold it for $200M —all before Uber Eats and DoorDash even got serious about Canada. He started with zero tech experience , got doors slammed in his face by restaurant owners, and had to personally place orders just to keep early partners engaged . Then, when Uber Eats launched in Toronto, backed by billions in funding , he...

How to tell if you have true product-market fit—& what to do if you don't. | Matt Watson, Host of Product Driven 20.03.2025

One of the most common questions I get is 'How do I know if I have product market fit?" Especially when you're in that gray zone where things are kind of working but they're not really taking off yet, how do you know if you have product-market fit or not? That's exactly what we dive into here.  Why you should listen: Why demo to close is an excellent leading indicator of P...

He got rejected by 40 VCs & had 6 months of runway—2 years later, he raised $100M from a16z. | Edo Liberty, Founder of Pinecone 17.03.2025

Edo Liberty left a high-paying job at AWS—where he was building AI at the highest level—to start Pinecone, a company no one understood. He pitched 40+ VCs, got rejected by every single one, and nearly ran out of money. Then, he flipped the pitch, raised $10M, and built one of the most important infrastructure companies in AI. Then ChatGPT dropped. Suddenly, Pinecone was the must-have database for...

Post-YC, he split with his co-founder—then grew profitably to $2M ARR with just 5 people. | Jon Yoo, Founder of Suger 13.03.2025

Jon Yoo’s startup wasn’t working. He pivoted mid-YC, spent five brutal weeks without signing a single customer , and then—right after raising his seed round—his co-founder left. Most startups die right there.  Instead, Jon figured out how to land massive customers like FiveTran and Snowflake. He grew from $500K to $2M ARR in 6 months.  Why you should listen: • Navigating a founder breakup – What h...

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