The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Nnamdi Okike of 645 Ventures joins Nick to discuss From Power Law to Proprietary Insight: Unlocking Early-Stage Alpha, Data-Driven VC, and Building a Next-Gen Firm. In this episode we cover: Frameworks and Signals for Early-Stage Investing Challenges and Opportunities in Non-Consensus Investing The Role of AI in Venture Capital Guest Links : Nnamdi's LinkedIn Nnamdi's X 645 Ventures' LinkedIn 645...

On this special segment of The Full Ratchet, the following Investors are featured: Kevin Stevens Manish Patel Han Shen Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to d...

On this special segment of The Full Ratchet, the following Investors are featured: Jon Terbell and Ted Clark Mathias Schilling Godard Abel We asked guests for the most important piece of advice that they'd share with folks early in their venture career. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Ar...

On this special segment of The Full Ratchet, the following Investors are featured: Ted Seides Rusty Ralston Kevin Stevens We asked guests to discuss the most visionary founder that they've worked with and what makes them so special. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up t...

D.A. Wallach of Time BioVentures joins Nick to discuss From Touring with Lady Gaga, Blink‑182, and Pharrell Williams to investing in Spotify, SpaceX, and Ripple… How an Artist Went from Tastemaker to Transformative Healthcare VC. In this episode we cover: Transition from Music to Tech Investing Investing in Tech and Healthcare Lessons from the Music Industry Healthcare System and Policy Value-Base...

On this special segment of The Full Ratchet, the following Investors are featured: Laura Chau Jon Terbell and Ted Clark Mathias Schilling We asked guests to share the best question they've ever been asked by an allocator. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with...

On this special segment of The Full Ratchet, the following Investors are featured: David Garcia Bradley Tusk Ted Seides We asked guests to tell the most important lesson they've learned in their career. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with The Full Ratchet?...

On this special segment of The Full Ratchet, the following Investors are featured: Jon Terbell and Ted Clark Jay Patil Mathias Schilling Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Wa...

Jeff Bussgang of Flybridge Capital joins Nick to discuss Calculating the Market Size for AI, Building an "Experimentation Machine," the Bull Case for Non-Technical Founders, and the Key to PMF in the AI Age. In this episode we cover: Exits and Liquidity in Venture Capital The Experimentation Machine and AI Opportunity Evaluating AI Businesses and Founders Challenges and Opportunities in AI Investi...

On this special segment of The Full Ratchet, the following Investors are featured: Godard Abel Manish Patel Han Shen We asked guests to discuss the factor that could cause the most disruption to the industry going forward and how that will change the next decade of venture. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders...

On this special segment of The Full Ratchet, the following Investors are featured: Laura Chau Mike Whitmire David Garcia We asked guests for the most important piece of advice that they'd share with folks early in their venture career. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep u...

On this special segment of The Full Ratchet, the following Investors are featured: Oren Yunger Bradley Tusk Jon Terbell and Ted Clark We asked guests to discuss the most visionary founder that they've worked with and what makes them so special. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want...

Medha Agarwal of Defy joins Nick to discuss AI Revenue-Model Transformation, Building an AI Moat, and The Arrival of Agents. In this episode we cover: Revenue Models and Business Models in AI-Driven Vertical Software Challenges and Opportunities in Vertical Software Defensibility and Market Differentiation Founder-Investor Relationships and Early Decision-Making Sourcing Top-Tier Talent and Seed I...

On this special segment of The Full Ratchet, the following Investors are featured: Jill Chase Eric Boduch Mike Whitmire We asked guests to share the best question they've ever been asked by an allocator. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with The Full Ratchet?...

Casber Wang of Sapphire Ventures joins Nick to discuss How AI Reshapes Distribution Models, What Startups Get Wrong About Product-Led Growth, and the Real Use Case for Agents. In this episode we cover: AI's Impact on Business Models and Capital Efficiency Defensibility and Product Market Fit AI Fatigue and Market Conditions Fundraising and Investor Expectations Cybersecurity and Competitive Intens...

On this special segment of The Full Ratchet, the following Investors are featured: Oren Yunger Laura Chau Jon Terbell and Ted Clark We asked guests to tell the most important lesson they've learned in their career. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with The Fu...

Paul Madera of Meritech Capital joins Nick to discuss Co-Founding Meritech, Betting Early on Facebook and Salesforce, Avoiding Shiny Objects, and Thinking Like a Public Market Investor. In this episode we cover: Challenges in Late-Stage Venture Capital Revenue Momentum and Investment Decisions Public vs. Private Markets and AI Investments Defense Tech and AI's Role in Workflow Software AI's Adopti...

On this special segment of The Full Ratchet, the following Investors are featured: Mike Whitmire David Garcia Bradley Tusk Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up...

Mike Maples of Floodgate joins Nick to discuss The OG Seed Investor, Mike Maples Jr., on Spotting Inflection Points, Living in the Future, and Why the Best Form of Competition Is No Competition. In this episode we cover: The Evolution of Seed Investing Identifying Exceptional Founders The Role of Inflections in Startups The Impact of AI on Startups Sea Changes and Business Model Migrations The Imp...

On this special segment of The Full Ratchet, the following Investors are featured: Rusty Ralston and Jay Patil Mathias Schilling Kevin Stevens We asked guests to discuss the factor that could cause the most disruption to the industry going forward and how that will change the next decade of venture. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed...

Chris Rizik of Renaissance Venture Capital joins Nick to discuss Inside the LP Playbook with Venture Vanguard, Chris Rizik: What Metrics Actually Matter, How to Fix Venture's Liquidity Crisis, and Why Co-Invests Are a Trap. In this episode we cover: Connectivity and Customer Engagement Undemo Day and Its Unique Features Venture Capital Liquidity Crisis and Exit Problems Co-Investment Rights and Th...

On this special segment of The Full Ratchet, the following Investors are featured: Gregory Ho Oren Yunger Bradley Tusk We asked guests for the most important piece of advice that they'd share with folks early in their venture career. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up...

Somesh Dash of IVP joins Nick to discuss Classical vs. Jazz Leadership, IPO Readiness & Key Metrics for a Successful Offering, Requirements for David to Beat Goliath, and Why Altman and Other Leaders are Pivoting to Open Source. In this episode we cover: AI's Role in Venture Investing AI Open Source & Model Layer AI in Healthcare, Education & Social Impact Globalization of Tech, Broader Trends & P...

On this special segment of The Full Ratchet, the following Investors are featured: Laura Chau Mike Whitmire David Garcia We asked guests to discuss the most visionary founder that they've worked with and what makes them so special. The host of The Full Ratchet is Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to...

Aaref Hilaly of Bain Capital Ventures joins Nick to discuss The Biggest Misconceptions About AI Agents, Why Defensibility Doesn't Matter at Seed, and Whether the AI Center of Gravity Is Shifting to China. In this episode we cover: AI Investment Strategy and Market Utility Impact of AI on Jobs and Early Instances of Reasoning Open vs. Closed Source Models and Data Control Scenario Planning and Uniq...