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

Latest Episodes:

495. From CTO to $500M AUM: Entry Point Discipline, Why People Matter at Every Stage, and the AI-Driven Future of Banking (Victor Orlovski) Nov 03, 2025

Show notes

Victor Orlovski of R136 Ventures joins Nick to discuss From CTO to $500M AUM: Entry Point Discipline, Why People Matter at Every Stage, and the AI-Driven Future of Banking. In this episode we cover:

Exit Strategies and Market Challenges
Risks and Opportunities in Late-Stage Investments
Banking and FinTech Challenges
Future of Financial Markets and AI in Banking
Impact of AI on Financial Institutions
Role of Founders in the AI Era

Guest Links:

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 437. Why Founders Must Hold Their Ground, Why Investors Must Break Their Rules, and How Both Survive the Chaos (Binatti, Schroepfer, Ruscio) Oct 30, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Daniela Binatti of Pismo
Mike Schroepfer of Gigascale Capital
Joseph Ruscio of Heavybit

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 436. Visionary Founders, From Steve Jobs to Brian Armstrong, and the Leaders Blending Life Sciences and Technology (Schuler, Saxena, Bussgang) Oct 27, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Barry Schuler of DFJ Growth Ventures
Shashank Saxena of Sierra Ventures
Jeff Bussgang of Flybridge Capital

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 435. Why Complacency Kills Momentum, The Cost of Over-Diligence, and Accepting the Limits of Control (Walsh, Wang, Hudson) Oct 23, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Shamin Walsh of BAM Ventures
Casber Wang of Sapphire Ventures
Charles Hudson of Precursor Ventures

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

494. The Techstars Refresh, Why Bigger Isn't Better, Investing in the Seed-Strapping Era, and Why Quantum May Dwarf Every Tech Shift (David Cohen) Oct 20, 2025

Show notes

David Cohen of Techstars joins Nick to discuss The Techstars Refresh, Why Bigger Isn't Better, Investing in the Seed-Strapping Era, and Why Quantum May Dwarf Every Tech Shift. In this episode we cover:

Refocusing TechStars
Programs and Deal Structure
Selection Process and Follow-On Investments
Successful Programs and Founder Network
Geographic Distribution and AI-First Companies
Seed Strapping and Capital Efficiency
Vertical Networks and Emerging Technologies
Future of Venture and Trends

Guest Links:

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 434. How LPs Judge Performance, Managing Founder Conflict, and The Blind Spots Investors Must Confront (Schuler, Niehenke, Agarwal) Oct 16, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Barry Schuler of DFJ Growth Ventures
Alexander Niehenke of Scale Venture Partners
Medha Agarwal of Defy

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 433. The Art of Sensing Greatness, From Analytical to Intuitive Investing, and the Case for Industry Outsiders (Hsieh, Hilaly, Maples) Oct 13, 2025

Show notes

n this special segment of The Full Ratchet, the following Investors are featured:

Vince Hsieh of Cypress Growth Capital
Aaref Hilaly of Bain Capital Ventures
Mike Maples of Floodgate

We asked guests to describe the biggest change to their investment philosophy over the course of 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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 432. The Pain of Passing: Missed Bets on Uber, DoorDash, and Great Founders Who Proved Them Wrong (Shapiro, York, Dash) Oct 09, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Craig Shapiro of Collaborative Fund
Kyle York of York IE
Somesh Dash of IVP

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

493. From Data Science to Drug Design: How AI Shifts Discovery, Target Validation, and Portfolio Construction (Jim Tananbaum) Oct 06, 2025

Show notes

Jim Tananbaum of Foresite Capital joins Nick to discuss From Data Science to Drug Design: How AI Shifts Discovery, Target Validation, and Portfolio Construction. In this episode we cover:

Data Science and Investment Approach
Investment Practices and Market Conditions
China's Role in Biotech and Regulatory Considerations
Impact of AI on Biotech and Healthcare
Healthcare Adoption of AI and Preventive Measures
Payers and Insurance Companies' Role
Lessons from Successful Investments
Generating Liquidity in a Sluggish Market
Future of GLP-1 Agonists

Guest Links:

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Investor Stories 431. Level Heads Build Enduring Companies, The Power of Persistence, and Why Conviction is Everything (Saxena, Delk, Rizik) Oct 02, 2025

Show notes

On this special segment of The Full Ratchet, the following Investors are featured:

Shashank Saxena of Sierra Ventures
Ryan Delk of Primer
Chris Rizik of Renaissance Venture Capital

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.

We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.

Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

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