"Turpentine Finance" with Sasha Orloff | Startup Finance, Leadership, CFO Strategy

E30: Paul Barnhurst (The FP&A Guy) on What CEOs Want from FP&A Oct 31, 2024

In this episode of Turpentine Finance, host Sasha Orloff sits down with Paul Barnhurst, a passionate FP&A educator and content creator who shares insights on financial planning & analysis, teaching methodologies, and the evolution of financial tools. For full show notes, visit: https://highlightai.com/share/1823b417-abe8-49bb-8f00-d673e24077b1

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📰Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess

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SPONSOR:

🌎ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

💳 Imagine total control over your company's spending with Rippling Spend, the all-in-one platform for expense reports, corporate cards, and bill pay. Control spend, set custom approval chains, and close your books 3x faster. Visit https://www.rippling.com/turpentine for a free demo and one month free trial.

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LINKS:

The FP&A Guy: https://www.thefpandaguy.com/

https://www.linkedin.com/in/TheFPandAGuy/

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X/SOCIAL:

@sashaorloff

E29: Bootstrapped to $640M: Brad Wiskirchen on M&A, Board Management, and Decision-Making Oct 24, 2024

In this episode, host Sasha Orloff interviews Brad Wiskirchen about his journey with Kount, the AI-driven fraud prevention company he bootstrapped and sold to Equifax for $640 million, while sharing insights from his experience as a founder and now a partner at CVC Capital Partners. For full show notes, visit: https://highlightai.com/share/eec1be56-ae04-4afc-bb24-7ed8523b2176

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📰Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess

--

SPONSOR:

🌎ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

💳 Imagine total control over your company's spending with Rippling Spend, the all-in-one platform for expense reports, corporate cards, and bill pay. Control spend, set custom approval chains, and close your books 3x faster. Visit https://www.rippling.com/turpentine for a free demo and one month free trial.

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LINKS:

Kount: https://kount.com/

https://www.linkedin.com/in/bradwiskirchen/

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X/SOCIAL:

@sashaorloff

@KountInc

E28: Airbase CFO Aneal Vallurupalli on Acquisitions, the Chief “Friction” Officer, and Spend Management Oct 17, 2024

In this episode, Sasha Orloff is joined by Aneal Vallurupalli, CFO at Airbase, who drops insights on modern spend management and his journey from M&A to leading finance at a Paylocity acquisition target. Aneal discusses his career trajectory, the impactful role of a CFO in spend management, and how Airbase revolutionizes non-payroll spends in the AI era. Aneal also offers essential advice to CFOs navigating today’s dynamic financial landscape.

🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

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SPONSORS:

ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Trusted by Notion, Anthropic, and Vanta. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

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LINKS:

Airbase: https://www.airbase.com/

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X/SOCIAL:

@sashaorloff

@AVallurupalli

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TIMESTAMPS:

(00:00) Preview

(01:16) Intro

(01:43) Meet Aneal Vallurupalli, CFO of Airbase

(02:28) Understanding Airbase's spend management

(04:33) Aneal’s journey to Airbase

(08:08) Evolution and impact of Airbase

(09:43) Role and strategy as CFO

(17:34) Sponsor: Anrok

(18:59) Balancing flexibility and control in spend management

(21:36) Importance of change management

(23:58) Memorable customer success stories

(27:35) Evolution of software in the CFO's office

(31:21) Trends in selling to different industries

(37:08) Future of Airbase and business spend management

(39:36) Insights on M&A and career journey

(43:37) Reflections on buy-side and sell-side experiences

(45:39) Wrap

E27: Architecting a Global Marketplace for M&A with Flippa CEO Blake Hutchison Oct 10, 2024

In this episode, Sasha Orloff sits down with Blake Hutchison, CEO of Flippa, the leading platform for buying and selling online businesses. Blake shares insights from his career (Xero, Lonely Planet, Good44), and explains how Flippa operates as the ‘investment bank for the 99%,’ providing a marketplace for subscale business transactions. The episode dives into the opportunities presented by the marketplace, key deal characteristics, and the different buyer segments. They also discuss the importance of financial literacy for subscale businesses, provide tips for first-time buyers, and offer predictions for the future of flipping businesses.

🔥Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

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SPONSORS:

RIPPLING

Imagine total control over your company’s spending with Rippling Spend, the all-in-one platform for expense reports, corporate cards, and bill pay. Control spend, set custom approval chains, and close your books 3x faster. Visit https://www.rippling.com/turpentine for a free demo and one month free trial.

ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

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LINKS:

Flippa: https://flippa.com/

https://www.linkedin.com/in/blakehutchison/

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X/SOCIAL:

@sashaorloff

@Flippa

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TIMESTAMPS:

(00:00) Preview

(01:20) Intro

(02:26) Blake's career journey

(03:37) Flippa: The investment bank for the 99%

(05:55) Focus on digital assets

(07:20) Selling and buying on Flippa

(14:20) Buyer types and market dynamics

(18:30) Sponsors: Rippling | Anrok

(21:22) Investing in digital assets

(26:28) Navigating the first-time buyer market

(28:05) Buyer intent and market trends

(33:47) Common deal breakers in business sales

(36:46) Financial literacy and cloud accounting

(44:27) Future trends in online business flipping

(47:47) Getting started with Flippa

(49:02) Wrap

E26: Why Finance Software is About to Change, with Sapphire Ventures' Jane Lee and Aditya Reddy Oct 03, 2024

In this episode, Sasha Orloff welcomes Jane Lee and Aditya Reddy of Sapphire Ventures to unpack their paper, “Rise of the Next Gen CFO,” which features a market map of CFO tools and identifies key trends and predictions. Jane and Aditya discuss how finance roles are transforming, the convergence of finance and data science, the influence of AI, and emerging investment strategies in this fast-paced sector.

Nothing presented within this podcast is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures (“Sapphire”). Information provided reflects Sapphires’ views as of a time, whereby such views are subject to change at any point and Sapphire shall not be obligated to provide notice of any change. No assumptions should be made that investments or strategies described were or will be profitable. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. Nothing contained in this podcast may be relied upon as a guarantee or assurance as to the future success of any particular company or strategy. Past performance is not indicative of future results.

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SPONSORS:

ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

NETSUITE: More than 40,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud ERP bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's guide to AI and Machine Learning at https://netsuite.com/102

METAVIEW is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

OMNEKY is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

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LINKS:

Rise of the Next Gen CFO: https://sapphireventures.com/blog/rise-of-the-next-gen-cfo-the-evolution-of-finances-role-and-tech-stack/

Sapphire Ventures: https://sapphireventures.com/

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X/SOCIAL:

@sashaorloff

@leejane09

@adityareddy97

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TIMESTAMPS:

(00:00) Preview

(00:53) Intro

(01:18) Viral market map by Sapphire Ventures

(02:23) Rise of the Next Gen CFO

(06:25) Key findings from the paper

(10:57) Impact of AI on finance

(18:09) Sponsors: Anrok | Netsuite

(20:36) Complexities with crypto assets

(24:22) AI affecting different industries

(28:22) Investment insights from Sapphire Ventures

(34:58) Sponsors: Metaview | Omneky

(36:27) Platform risks

(41:06) Sapphire Ventures' focus

(43:37) Wrap

E25: What Separates Good From Great Treasury, with Eugene Spevakov Sep 26, 2024

In this episode, Sasha Orloff is joined by Eugene Spevakov, the Treasurer and Head of Corporate FP&A at 6sense, treasury expert, and veteran CFO. Sasha and Eugene dive deep into the Treasury function: how it differs across industries, how a scaling startup will know when it’s time to hire for the role, how to structure the function, and what separates a great treasurer from merely good. Eugene offers a masterclass on leveraging treasury to drive growth, improve cash flow, and allocate risk strategically in an uncertain world.

🔥Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

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SPONSORS:

ANROK is the enterprise-grade solution that automates sales tax compliance worldwide. Anrok tracks your exposure, calculates tax, and handles filings—all in one platform. Visit https://www.anrok.com/turpentine to claim your free nexus study and take control of your SaaS tax strategy.

NETSUITE: More than 40,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud ERP bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's guide to AI and Machine Learning at https://netsuite.com/102

METAVIEW is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

OMNEKY is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

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LINKS:

https://www.linkedin.com/in/eugene-spevakov-cfa/

6sense: https://6sense.com/

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X/SOCIAL:

@sashaorloff

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TIMESTAMPS:

(00:00) Preview

(00:49) Intro

(01:14) Understanding treasury

(02:22) Meet Eugene Spevakov: A treasury expert

(03:39) Basics of treasury functions

(05:40) Real-world treasury challenges and risks

(09:12) Industry-specific treasury insights

(14:07) Sponsors: Anrok | Netsuite

(16:30) Treasury in software companies

(22:32) Risk management and allocation

(27:29) Sponsors: Metaview | Omneky

(28:58) When to hire a treasury professional

(30:07) Understanding and managing business risks

(32:40) Challenges and solutions in treasury functions

(37:08) Role and excitement of treasury

(43:12) Tools and resources for treasury management

(47:40) Advice for building a treasury function

(50:32) Wrap

E24: The ROI of Storytelling: Camille Ricketts (ex-Notion, FRR, Tesla)on Content as a Business Driver Sep 19, 2024

In this episode, Sasha Orloff sits down with Camille Ricketts, former Co-Head of Marketing at Notion, Editor of First Round Review and Elon’s comms manager at Tesla, to talk about the ROI of content as a growth driver. Camille, currently a partner at XYZ Venture Capital, played a key role in persuading Sasha years ago to invest in content as a revenue channel. In this episode she shares her invaluable insights from her roles at Notion, Tesla, and First Round Review. Tune in to hear Camille’s compelling arguments for CEOs and VPs about the strategic value of content marketing. This is a must-listen for founders, finance leaders, and anyone eager to leverage content for growth.

🔥Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

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SPONSORS:

NETSUITE: More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

METAVIEW is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

BRAVE: Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

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LINKS:

https://www.linkedin.com/in/camillericketts/

XYZ: https://www.xyz.vc/

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X/SOCIAL:

@sashaorloff

@camillericketts

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TIMESTAMPS:

(00:00) Episode Preview

(00:58) Conversation with Camille Ricketts

(02:11) Camille's journey at Notion

(04:34) Content as a measurable growth strategy

(12:00) Effective use of testimonials and case studies

(15:45) Case studies and emotional engagement

(17:54) Sponsors: Netsuite | Metaview

(19:41) Measuring content success

(24:25) Tactical tips for effective call to action

(26:08) Figma and Stripe

(27:37) Founding story of First Round Review

(30:30) Sponsors: Brave | Omneky

(31:52) Iterating content formats and overcoming fear

(37:04) Role of AI in content creation

(42:57) Insights from Tesla and preparing for the unexpected

(47:24) Wrap

E23: “Founder Mode"? Setting the Record Straight with Jim Cook Sep 12, 2024

When Y Combinator's Paul Graham released his viral essay "Founder Mode," it sparked a firestorm in the tech world. Based on a private talk by Airbnb's Brian Chesky and endorsed by the likes of Elon Musk and Patrick Collison, the piece garnered over 20 million views. Enter Jim Cook, legendary Silicon Valley CFO (Netflix, Intuit, Mozilla) who just wrote a counterargument to set the record straight. Cook challenges the simplistic notion of founder supremacy — where only 10% succeed — and offers a different Leadership Mode framework for building high-performance, generational companies.

🔥Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

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SPONSORS:

NETSUITE: More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

METAVIEW is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

BRAVE: Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

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LINKS:

Cook’s Playbooks https://jcookflix.substack.com/

Founder Mode PG https://paulgraham.com/foundermode.html

Lenny’s Podcast episode with Brian Chesky https://www.youtube.com/watch?v=4ef0juAMqoE

Product-CEO Paradox by Ben Horowitz https://a16z.com/why-founders-fail-the-product-ceo-paradox/

Hard Thing About Hard Things by Ben Horowitz https://a16z.com/books/the-hard-thing-about-hard-things/

Scaling People with Claire Hughes Johnson https://www.goodreads.com/book/show/63063173-scaling-people

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X/SOCIAL:

@sashaorloff

@cookflix

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TIMESTAMPS:

(00:00) Episode preview

(00:26) Intro

(00:51) Founder Mode essay

(04:13) Challenges of polarized arguments

(07:44) Importance of leadership mode

(10:59) Balancing founder and scaling modes

(15:01) Sponsors: Netsuite | Metaview

(16:49) Trust and transparency in leadership

(20:41) Importance of creating a culture

(24:57) Leading with values and behaviors

(29:48) Sponsors: Brave | Omneky

(31:13) Importance of documentation

(36:45) Balancing founder and manager roles

(39:06) Structuring ownership and accountability

(43:06) Founders as Coaches and Captains

(48:12) Specialized operators in finance

(50:41) Scaling company to public

(53:50) Wrap

E22: Evolution of the CFO Role, Compensation, and Interview Success with Chris Sands of the F Suite Sep 05, 2024

In this episode, Sasha Orloff is joined by Chris Sands, Head of Jobs at The F Suite, to discuss the landscape of finance leadership and career advancement in 2024. Sands unpacks the changing role of CFOs and how to navigate compensation from the vantage point of CFOs (and the CEOs hiring for the role). This episode offers invaluable insights on how to stay relevant, adaptable, and ahead of the curve in your finance career.

🔥Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

--

SPONSORS:

NETSUITE: More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

METAVIEW is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

BRAVE: Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

--

LINKS:

http://fsuite.co

https://www.fsuite.co/compensation-survey

http://lsuite.co

http://www.thesuite.com

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X/SOCIAL:

@sashaorloff

@chris_sands_

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TIMESTAMPS:

(00:00) Episode preview

(01:16) Intro

(01:40) Meet Chris Sands: Head of Jobs at The F Suite

(03:06) Evolving role of the CFO

(09:11) Strategies for aspiring CFOs

(12:29) Candidate-first approach in recruitment

(13:56) Then vs Now: Hiring CFOs

(19:14) Preparing candidate for interviews

(22:53) Sponsors: Netsuite | Metaview

(24:40) Best practices in recruiting finance teams

(26:19) Role of CFO in the hiring process

(27:28) Advice for recruiting CFOs

(29:28) Sponsors: Brave | Omneky

(30:56) Key traits of a great CFO

(32:52) Evolution of CFO roles

(34:10) Misconceptions on job search

(37:56) CFO compensation insights

(44:49) Negotiation strategies for CFOs

(48:04) Non-negotiable compensation offers

(48:59) F Suite: Building a community for CFOs

(52:39) Wrap

E21: From Silicon Valley to Lake Tahoe Ski Resort CFO | Valerie Burman Aug 29, 2024

In this episode, Sasha Orloff is joined by Valerie Burman, CFO of Sugar Bowl Resort in Lake Tahoe and former VP at Workday and SAP, shares her unique journey from being an executive at Silicon Valley tech companies to becoming the CFO of a ski resort. Valerie talks about her philosophy on building the dream team, the importance of understanding business acumen in a CFO role, and strategies for achieving long-term liquidity. She also reflects on hard won lessons from multiple M&As and corpdev.

--

Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

--

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

--

SPONSORS:

More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

Metaview is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

BRAVE: Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

--

X/SOCIAL:

Sasha on X: @sashaorloff

Valerie's LinkedIn: https://www.linkedin.com/in/burmanval/

--

TIMESTAMPS:

(00:00) Introduction

(01:45) Valerie Berman: From tech to Tahoe

(03:00) Transitioning to Sugar Bowl

(05:21) Day one as CFO: Skiing and listening

(07:02) Unique aspects of Sugar Bowl

(08:13) Balancing fun and financials

(13:05) Sponsors: Netsuite | Metaview

(14:54) Measuring success and setting goals

(24:27) Navigating seasonal business challenges

(30:00) Building a dream team at Sugar Bowl

(32:24) Sponsors: Brave | Omneky

(33:46) Insights on M&A and corporate development

(36:24) Decision making in private companies

(42:02) Significant role of cultural alignment

(46:07) Advice for aspiring CFOs

(48:06) Closing remarks and outro

E20: Rishi Garg’s M&A Playbooks from Twitter and Square Aug 22, 2024

In this episode, Rishi Garg, former Head of Corporate Development at Twitter and Square, shares insider knowledge on tech acquisitions. He explains when companies should start considering M&A and the three key approaches: tops down, bottoms up, and strategy influence. Rishi reveals how he managed up to 15 deals in 12 months and why integration is crucial for M&A success. He debunks common M&A misconceptions and discusses the "sins of omission" - deals he regrets not making. The conversation shifts to his current role as a VC at Mayfield Fund, offering a unique perspective on both sides of acquisitions.

LINKS:

https://www.twitter.com/rishigarg

https://www.mayfield.com/

RECOMMENDED PODCAST:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

SPONSORS:

More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

Metaview is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics

The Brave search API can be used to assemble a data set to train your AI models and help with retrieval augmentation at the time of inference. All while remaining affordable with developer first pricing, integrating the Brave search API into your workflow translates to more ethical data sourcing and more human representative data sets. Try the Brave search API for free for up to 2000 queries per month at https://brave.com/api

Omneky:

Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off https://www.omneky.com/

X/SOCIAL:

@sashaorloff

@rishigarg (Rishi)

TIMESTAMPS:

(00:00:00) Introduction

(00:02:53) How companies should think about M&A and corp dev

(00:06:58) Signs that a company is ready to consider M&A

(00:11:37) Different approaches to M&A: tops down, bottoms up, and strategy influencing

(00:16:52) How to start building an M&A team

(00:18:16) Sponsors: Netsuite | Metaview

(00:22:15) Misconceptions about M&A in Silicon Valley

(00:26:53) Valuation considerations in M&A deals

(00:34:31) Current state of M&A market and opportunities

(00:38:24) Sponsors: Omneky | Brave

(00:39:47) How M&A deals happen and relationship building

(00:45:55) Reasons why M&A deals don't work out

(00:51:50) Transition to Rishi's experience as a venture capitalist

(00:57:50) Advice for founders considering M&A

(01:02:09) Rishi's current interests in investing, particularly in AI and new platforms

E19: From Lean Startup to Long-Term Thinking: Eric Ries Reinvents the Stock Exchange Aug 15, 2024

In this episode of Turpentine Finance, Sasha sits down with Eric Ries, author of "The Lean Startup" and founder of the Long-Term Stock Exchange (LTSE). Ries shares the challenging journey of creating a new national securities exchange designed to promote long-term thinking in public companies. He discusses the obstacles faced in gaining SEC approval, the misconceptions about corporate governance, and why many companies struggle with balancing short-term pressures and long-term vision. Ries offers valuable insights for CEOs and CFOs considering going public or dual-listing, emphasizing the importance of aligning investors with a company's long-term mission. This conversation explores how rethinking capital allocation and corporate structure can lead to more sustainable, successful businesses.

LINKS:

The LTSE: https://ltse.com/

The Lean Startup: https://theleanstartup.com/

Listen here at: https://www.ericriesshow.com/

RECOMMENDED PODCAST

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

SPONSORS:

RIPPLING SPEND:

Imagine total control over your company's spending with Rippling Spend, the all-in-one platform for expense reports, corporate cards, and bill pay. Control spend, set custom approval chains, and close your books 3x faster. Visit rippling.com/spend for a free demo and one month free trial.

NETSUITE

More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102

BRAVE:

The Brave search API can be used to assemble a data set to train your AI models and help with retrieval augmentation at the time of inference. All while remaining affordable with developer first pricing, integrating the Brave search API into your workflow translates to more ethical data sourcing and more human representative data sets. Try the Brave search API for free for up to 2000 queries per month at https://brave.com/api

X/SOCIAL:

@sashaorloff

@ericries (Eric)

TIMESTAMPS:

(00:00:00) - Introduction and opening quote from Eric Ries

(00:02:18) - Explanation of what the Long-Term Stock Exchange (LTSE) is

(00:07:11) - Eric's background and journey to founding LTSE

(00:14:29) - The challenge of convincing investors to fund LTSE

(00:16:03) - Sponsors: Netsuite | Rippling Spend

(00:21:47) - Eric's experience navigating the SEC approval process

(00:29:38) - Sponsor: Omneky

(00:31:30) - Discussion on how companies are notified of SEC approval

(00:42:36) - Challenges and questions companies ask behind the scenes

(00:50:36) - Brief mention of companies listed on LTSE

(00:58:36) - The importance of allocating shares to long-term investors

(01:01:21) - What's next for LTSE and Eric Ries

(01:02:49) - Closing remarks and outro

E18: Jody Padar, CPA, on Solving Accounting's Incentive Misalignment Using Radical Pricing Aug 08, 2024

In this episode, Sasha sits down with Jody Padar, the Radical CPA, 3x author, to discuss the incentive misalignment in accounting firms, and how radical pricing can solve it. Jody shares her insights on the evolving landscape of accounting, discussing the need for firms to adapt to new technologies, embrace value-based pricing, and shift from traditional hourly billing models. She emphasizes the importance of redefining the accountant-client relationship in the digital age, advocating for a more advisory-focused approach. Jody also addresses the challenges facing the accounting profession, including talent shortages and the impact of automation, while offering her vision for the future of accounting firms.

--

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

RECOMMENDED PODCASTS:

🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast

--

LINKS:

Radical Pricing by Jody Padar: https://cpatrendlines.com/shop/jp24pri-jody-padar-radical-pricing-how-to-optimize-profits-delight-clients-and-build-a-top-value-firm-jp24pri/

Connect with Jody on Linkedin: https://www.linkedin.com/in/jody-padar-18a9711

--

SPONSORS:

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

TIMESTAMPS:

(00:00:00) Episode preview

(00:01:05) Introduction to Turpentine Finance Podcast

(00:01:31) Meet Jody: The Radical CPA

(00:03:06) The disconnect in accounting firms

(00:05:53) Jody's journey into accounting

(00:07:23) Innovating in a firm with technology and cloud solutions

(00:12:58) Challenges in changing the pricing model

(00:18:04) The role of automation in accounting

(00:24:32) Innovative constraints in small firms

(00:25:33) Realizing pricing as the core problem

(00:27:20) Transitioning to value-based pricing

(00:36:01) The role of AI and technology in accounting

(00:37:41) The future of bookkeeping firms

(00:39:56) Reimagining the accounting profession

(00:43:04) Strengthening accountant-client relationships

(00:47:39) Training the next generation of accountants

(00:49:40) Conclusion and final thoughts

E17: Why a16z is All-In on AI for Finance Teams with Partner Seema Amble Aug 01, 2024

In this episode, Sasha sits down with Seema Amble, Partner at Andreessen Horowitz. Seema shares her research on the transformation of the CFO’s office, and how generative AI is powering financial teams. She discusses how AI can empower CFOs and finance teams to focus on strategic rather manual tasks, increasing client communication through automation, the impact of AI on valuations in service businesses such as law and accounting, and the progression from “service as a software” vs “software as a service”. Seema also discusses investing cycles, and how AI adoption in enterprise might follow the trajectory of other technologies, beginning with consumer adoption first.

--

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

RECOMMENDED PODCASTS:

🎙️1 to 100 | Hypergrowth Companies Worth Joining

Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies.

Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw

Apple: https://podcasts.apple.com/podcast/id1762756034

--

SPONSORS:

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

LINKS:

The CFO in Crisis: https://a16z.com/the-cfo-in-crisis-mode-modern-times-call-for-new-tools/

Death, Taxes, and Accounting: https://a16z.com/generative-ai-in-accounting/

X/SOCIAL

@seema_amble (Seema)

@sashaorloff (Sasha)

TIMESTAMPS:

(00:00:00) Introduction to Turpentine Finance Podcast

(00:01:44) Discussing the CFO in Crisis Mode article

(00:02:10) Challenges faced by CFOs with legacy software

(00:06:35) The pyramid graph of finance team tasks and market insights

(00:15:10) Generative AI's impact on finance

(00:16:24) Emerging trends and changes in the market

(00:20:14) The rise of bundled solutions in finance

(00:22:49) Death, taxes, and AI: Transforming accounting

(00:24:33) The excitement of AI in accounting

(00:26:42) Challenges and opportunities in AI adoption

(00:29:29) Incentive alignment and talent development in service businesses

(00:32:36) The future of services as software

(00:34:14) AI's impact on business models and valuation

(00:38:17) Andreessen Horowitz's AI investment strategy

(00:40:07) Future trends and predictions in AI

(00:44:12) Engaging with Andreessen Horowitz

(00:45:18) Conclusion and call to action

E16: CFO Dilemmas Decoded: Growth vs. Profit, VC vs. PE, and M&A Insights w/ Dan Fletcher, CFO of Planful Jul 26, 2024

In this episode of Turpentine Finance, Sasha sits down with Dan Fletcher, CFO of Planful. They discuss how CFOs can build trust with the CEO and the board, balancing growth and profitability across different company stages, the nuances of working with VC versus PE investors, and more. Dan also shares his perspective of working at Planful, building infrastructure for CFOs.

--

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

--

RECOMMENDED PODCASTS:

🎙️1 to 100 | Hypergrowth Companies Worth Joining

Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies.

Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw

Apple: https://podcasts.apple.com/podcast/id1762756034

--

SPONSORS:

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

LINKS:

https://planful.com/

X/SOCIAL:

Dan Fletcher on Linkedin: https://www.linkedin.com/in/danfletchersf/

@sashaorloff (Sasha's X)

TIMESTAMPS:

(00:00) The best advice for growth and profitability

(02:13) Meet Dan Fletcher: Navigating CFO challenges

(02:57) Stakeholder management for CFOs

(04:22) Building trust with the CEO

(08:30) Growth vs. profitability: A balanced approach

(17:28) Navigating M&A discussions

(20:43) Preparing for board meetings

(25:08) Common questions CFOs face

(25:45) The importance of knowing your business

(26:24) The role of the CFO in board meetings

(27:22) Differences between venture-backed and private equity-backed boards

(29:00) Career path to CFO: CPA vs. corporate finance

(33:53) Essential skills for aspiring CFOs

(35:04) The role of the controller in strategic finance

(37:07) Planful's success and CFO insights

(43:02) Future of AI in financial planning

(45:28) Conclusion and final thoughts

E15: Building Tax Compliance for Tech Companies with Michelle Valentine, Cofounder and CEO of Anrok Jul 18, 2024

In this episode, Sasha sits down with Michelle Valentine, Co-founder and CEO of Anrok, the tax compliance infrastructure for the internet economy. They discuss the complexities of sales tax in the digital age, the historical context, regulatory changes, and challenges faced by startups operating online. Michelle shares her journey from VC at Index Ventures to founding Anorak and provides valuable advice for finance leaders and founders on navigating sales tax issues effectively.

--

🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

RECOMMENDED PODCASTS:

🎙️1 to 100 | Hypergrowth Companies Worth Joining

Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies.

Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw

Apple: https://podcasts.apple.com/podcast/id1762756034

--

SPONSORS:

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

LINKS:

https://www.anrok.com/

X/SOCIAL:

@sashaorloff (Sasha)

@_vltn (Michelle)

TIMESTAMPS:

(00:00) Episode preview

(01:12) The complexity of sales tax in the digital age

(03:40) The evolution of sales tax laws

(05:41) The impact of remote work and Supreme Court rulings

(07:20) Local vs. state tax compliance

(10:47) How Anrok solves sales tax issues

(12:25) The importance of early sales tax compliance

(15:13) Anrok's approach to sales tax management

(18:30) Address data quality and sales tax

(24:06) Common misconceptions about tax responsibility

(26:45) From venture capitalist to founder

(28:01) Building a strong founding team

(32:57) The why now for Anrok

(35:41) Advice for founders and finance teams

(39:49) The role of accounting firms and fractional CFOs

(42:47) Anrok's vision and future

E14: Revenue Models 101 & the New Stack with Riya Grover, CEO of Sequence Jul 11, 2024

In this episode, Sasha sits down with Riya Grover, CEO and Cofounder of Sequence, to discuss the evolving landscape of B2B revenue models and pricing strategies. They dive deep into the challenges modern software companies face in managing complex hybrid pricing models and the increasing adoption of usage and hybrid-based pricing. Riya also shares Sequence's approach to unifying the quote-to-cash process, bridging the gap between sales and finance teams, the limitations of traditional revenue management tools, and much more.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

--

RECOMMENDED PODCAST:

🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211

Spotify:https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

--

SPONSORS:

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

LINKS:

https://www.sequencehq.com

X/SOCIAL

@sashaorloff (Sasha)

@Riya_78 (Riya)

TIMESTAMPS

(00:00:00) Introduction to revenue management challenges

(00:02:07) Evolution of revenue models

(00:04:23) Hybrid pricing and usage-based models

(00:05:32) Complexities in revenue management

(00:06:46) Modern sales and finance operations

(00:09:38) Driving factors behind revenue model changes

(00:15:12) Software evolution and challenges

(00:36:57) Sequence: simplifying quote to revenue

(00:40:42) Closing thoughts and advice for finance teams

E13: Architecting IPO Readiness from Day One with Nadia Asoyan, Formerly of Square, Robinhood, and Strike Jun 27, 2024

In this episode, Sasha sits down with Nadia Asoyan, former CFO of Strike, Robinhood, and Controller at Square. Nadia shares her journey from EY to Silicon Valley's top fintech rocketships, offering invaluable insights on transitioning from accounting to CFO positions. She discusses the challenges of IPO readiness, the evolution of financial processes in fast-growth startups, and the delicate balance between growth and profitability. Nadia also provides candid advice for aspiring CFOs, emphasizing the importance of cross-functional partnerships and data literacy.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

--

RECOMMENDED PODCAST:

🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211

Spotify:https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

--

SPONSORS:

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

--

LINKS:

Strike: https://strike.me/

X/SOCIAL

@sashaorloff

@NadiaAsoyan

TIMESTAMPS:

(00:00) Introduction

(01:06) Nadia’s Accounting Origins

(04:17) Big Four Lessons

(07:38) Square's Early Days

(09:03) The Audit to In-House Transition

(11:22) IPO Readiness at Square

(17:05) Building Processes at Robinhood

(18:21) Sponsors: Netsuite | CommandBar

(21:00) Attracting Founders

(24:30) Expanding Responsibilities

(28:18) Evolving Processes

(28:42) Sponsors: Babbel | Attio

(32:33) Advice for Accounting Professionals

(35:05) Board Management and Fundraising

(42:00) Board Meetings

(45:20) Growth vs. Profitability

(48:32) Counterintuitive Advice

(50:00) Misconceptions and Unsolved Problems

(54:41) Square IPO Challenges

(59:48) Complexity and Automation

(1:04:10) Free Products and Hyper Growth

(1:07:01) Pricing Models

(1:10:22) Budget Setting

(1:14:20 ) Wrap

E12: Customer Obsession Meets Unit Economics: Product-Finance Harmony w/ Gusto's CPO Tomer London Jun 21, 2024

In this episode, Tomer London, co-founder and Chief Product Officer at Gusto, shares insights into aligning product and finance teams for responsible growth. He dives deep into the frameworks and practices Gusto employed to make trade-offs between core products, expansion opportunities, and moonshot ideas - all while maintaining a relentless focus on customer needs and healthy unit economics. Tomer discusses Gusto's thoughtful, iterative approach to product development, avoiding the pitfalls of pursuing growth at all costs. He provides a candid look into Gusto's fundraising philosophy and managing the product-finance relationship through the company's evolution from startup to industry leader.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode

--

RECOMMENDED PODCAST:

🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech.

Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211

Spotify:https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

SPONSORS:

ATTIO

📊 Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

COMMANDBAR

🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz

BABBEL

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

LINKS:

gusto.com

X/SOCIAL

@sashaorloff

@tomerlondon

TIMESTAMPS:

(00:00) Intro

(01:25) Landing on Payroll

(03:46) Payroll as a Wedge

(05:20:)The Importance of Emotional Pain Points

(07:23) Dream Big, Make it Real

(13:06) The Three Horizons Framework

(15:07) The Importance of Product & Finance Alignment

(17:08) Sponsor: NetSuite | Attio

(21:00) Milestones and Accountability

(24:00) Killing Products

(28:30) Staying Focused Amidst Competition

(30:39) Sponsor: beehiiv | Babbel

(34:00) Fundraising Strategy

(36:46) Evolving Thinking on Profitability

(40:25) The Power of Customer Connection

(42:00) The Future of Gusto

(43:12) Wrap

E11: CFO Whisperer Jim Cook of Netflix, Intuit, & Mozilla: "Stop Trying To Be Precise" Jun 13, 2024

In this episode, Sasha sits down with Jim Cook, dubbed the CFO Whisperer, after 30 years in Silicon Valley as CFO at Netflix, Intuit, and Mozilla. Jim shares CFO hiring mistakes and the misunderstandings most board members and investors have about the CFO role, why being precise is the finance professional’s Achilles heel, tactical advice for impactful communication in board meetings, and more.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

RECOMMENDED PODCAST:

Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

SPONSORS:

ATTIO

📊 Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

BEEHIIV

🐝 Head to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. Go to https://beehiiv.com and use code “MOZ” for 20% off your first three months

🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg

LINKS:

Jim's Linkedin: https://www.linkedin.com/in/cookflix

Benchboard: https://www.benchboard.com/

X/SOCIAL:

@sashaorloff (Sasha)

@cookflix (Jim)

TIMESTAMPS

(00:00) Preview and Intro

(03:19) Early lessons from Intuit

(05:28) Evolution of finance teams

(09:06) Customer-centric finance

(11:14) Effective stakeholder management

(12:47) Strategic decision making in finance

(15:39) Board meetings preparation

(19:04) Sponsor: Netsuite | Attio

(21:07) Meaningful discussions on board meetings

(24:07) How to be a successful CEO

(31:38) Sponsor: Beehiiv | Babbel

(34:11) Early days of Netflix

(37:05) Monetization strategies

(44:14) Hiring the right CFO

(47:26) Interview question for a CFO candidate

(49:35) Introducing BenchBoard

(53:38) Common skills and advice

(57:19) Wrap

E10: How OpenAI Controller Sowmya Raganathan Uses AI to Superpower Accounting Jun 06, 2024

OpenAI Controller Sowmya Ranganathan sits with Sasha Orloff to share accounting insights from her experience at Square, Rippling, and OpenAI. She discusses automation and using AI in accounting, how difficult software motivated her to make the move to Controller at Rippling, and how she’s streamlining the accounting workflow at OpenAI, where she is currently Controller. Sowmya also explains how AI is making accounting easier and why future accounting teams may be small and broadly skilled.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

RECOMMENDED PODCAST:

Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co

---

SPONSORS:

ATTIO

📊 Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

BEEHIIV

🐝 Head to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. Go to https://beehiiv.com and use code “MOZ” for 20% off your first three months

BRAVE

🎯Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

X/SOCIAL:

https://twitter.com/sashaorloff (Sasha)

https://twitter.com/heysowmya (Sowmya)

---

TIMESTAMPS:

(00:00) Preview and Intro

(02:51) Soumya's Journey: From Square to Rippling

(03:14) Challenges and Learnings in Public Accounting

(07:30) Automation in Accounting: A Necessity

(10:02) Joining Rippling: Building from the Ground Up

(11:47) Balancing Controls and Growth in Startups

(14:52) Sponsor: NetSuite | Attio

(16:52) Putting On the Auditor's Hat

(18:24) What If There's No Buy-in from Management?

(21:02) Stepping into OpenAI and Embracing AI in Accounting

(24:12) Transforming Accounting with ChatGPT

(25:35) Real-World Applications and Success Stories

(26:29) Future of AI in Accounting

(29:44) OpenAI's Accounting Team and Processes

(30:02) Sponsor: Beehiiv | Brave

(33:12) Innovative Tools and Systems

(37:36) Advice for Future Accountants

(45:30) Addressing Fear of AI in Accounting

(47:41) Wrap

E9: An Insider's Guide After $2B of M&A with Serial CFO Steve Love of Sift, Dialpad, and Heap May 30, 2024

In this conversation, Steve Love, a seasoned CFO with over $1 billion raised from VCs and $2 billion in M&A transaction experience, pulls back the curtain on high-stakes M&A. Love shares his insights from overseeing complex acquisitions like Heap's purchase of a complementary "session replay" company and Heap's eventual sale to ContentSquare. He candidly discusses navigating challenges, aligning stakeholders, prepping for diligence, and making strategic M&A decisions as a CFO. Whether you're a CFO, finance professional or simply M&A-curious, Love's tactics for evaluating targets, modeling forecasts, negotiating terms, and executing integrations provide a rare behind-the-scenes look at what it really takes to architect successful transactions.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

RECOMMENDED PODCAST:

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

SPONSORS:

📊 Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

NETSUITE

📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.

BEEHIIV

🐝 Power your newsletter with Beehiiv, the newsletter platform built for growth. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. Head to https://Beehiiv.com and use code "MOZ" for 20% off your first three months

BRAVE

🎯Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign.

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

https://sift.com/

X/SOCIAL:

@sashaorloff (Sasha)

@SteveLoveCFO (Steve)

TIMESTAMPS:

(00:00:00) Intro and preview

(00:01:24) Steve Love's impressive background

(00:02:39) Diving into M&A: When and why to acquire

(00:03:34) Case study: Heap's product acquisition

(00:05:17) Evaluating market players and integration challenges

(00:13:29) Integration and transition best practices

(00:17:43) Sponsor: NetSuite | Attio

(00:20:21) The biggest surprise after acquisition

(00:22:33) The first thing CFOs do after signing

(00:32:29) Sponsor: Beehiiv | Brave

(00:33:02) Negotiating severance packages

(00:37:34) Executing a sell-side transaction

(00:37:55) Handling market checks and bankers

(00:49:52) Differences between private and public company sales

(01:02:13) Biggest misconceptions about a CFO's role

(01:03:03) Wrap

E8: When Your Biggest Competitor Crashes, with Mercury CEO Immad Akhund May 23, 2024

How do you navigate the tide turn when your competitor collapses during one of the biggest banking crises in recent history? In this conversation, Sasha Orloff sits down with Immad Akhund, founder and CEO of Mercury*. Immad pulls back the curtain on the chaos and critical decisions made when Silicon Valley Bank fell. From mobilizing an all-hands effort to rapidly onboard new customers to developing new product features virtually overnight to instill confidence, Immad provides an unvarnished look at crisis management and steadfast leadership during turbulent times. He also shares insights on Mercury's customer-first approach to building, how rising interest rates transformed their business model, and how he thinks about investing in new product initiatives by allocating internal resources like venture investments.

*Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust, Members FDIC.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

---

SPONSOR:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. Profiled this season: Databricks, Reddit, Twilio, Copart + more.

Spotify: https://open.spotify.com/show/0epyYBAxLeF0PsNagdDJAJ

Apple: https://podcasts.apple.com/us/podcast/company-breakdowns/id1743119197

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

https://mercury.com/

---

X/SOCIAL:

@sashaorloff (Sasha)

@Immad (Immad)

---

TIMESTAMPS:

(00:00) Preview

(01:15) Intro

(02:23) Immad’s Journey to founding Mercury and being a serial entrepreneur

(02:37) Immad’s learnings after founding three startups

(06:54) Learnings from being a YC partner and angel investor

(08:54) What gets Immad excited about investing

(10:17) Why Series A vs seed stage investing

(12:18) Building the banking solution

(13:49) The moment when Immad knew Mercury was the right thing

(16:12) How interest rates affect Mercury

(18:48) Silicon Valley Bank collapse and what was happening at Mercury

(23:50) SVB failed, why is Mercury safe?

(24:00) Mercury Vault’s inception and increasing FDIC insurance to 3 million

(25:56) Would Immad do anything differently going back to the SVB collapse?

(27:41) How Mercury’s team was able to remain calm and adapt

(29:21) Launching new products within a startup: product innovation

(31:12) Having a longterm mindset when launching new products

(33:49) Thinking about product launches internally like they’re startups

(36:37) Breadth vs depth in a market

(40:30) Something about Mercury a lot of people don’t know today

(43:50) Number one piece of advice for founders

(44:26) Wrap

E7: The Dealmaker’s Secrets: Steve McLaughlin on Crafting a Fundraising Story Worth $33B, CEO of FT Partners May 16, 2024

In this conversation, Sasha Orloff sits down with Steve McLaughlin, CEO and Managing Partner of FT Partners. Steve provides an insider’s look into the high-stakes world of capital raising and dealmaking for high-growth private companies. From being Goldman Sachs’ Former Head of Fintech to founding FT Partners, a global fintech investment firm, McLaughlin shares his strategies for crafting compelling narratives that unlock massive fundraising rounds - like the $33 billion valuation for Revolut and a $100 million plus raise for Sam Altman’s Worldcoin. They dive deep into storytelling, the importance of product over marketing spend, founder red flags, and much more.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

---

RECOMMENDED PODCAST:

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

https://ftpartners.com/

X/SOCIAL:

@sashaorloff (Sasha)

@FTPartners (Steve)

TIMESTAMPS:

(00:00:00) The art of storytelling in high-growth company valuations

(00:01:31) A capital whisperer's journey

(00:02:26) Inside FTPartners: Shaping the fintech universe

(00:04:33) The intricacies of capital raising and M&A

(00:07:39) Crafting the perfect capital raise story

(00:14:13) The complex world of investor networks

(00:16:41) Maximizing value beyond valuation

(00:19:05) A deep dive into successful storytelling and strategic selling

(00:22:57) The philosophy of business growth and valuation

(00:23:33) Understanding the founder's journey and ambitions

(00:24:32) The role of investment bankers in raising capital

(00:25:46) The importance of choosing the right banker

(00:28:17) Revolut's success story: A case study

(00:36:07) Strategic advice on growth vs. profitability

(00:39:01) Reflecting on capital raising experiences and red flags

(00:41:06) The evolution of FT Partners

(00:46:12) Closing thoughts and acknowledgements

E6: Behind the Scenes of General Catalyst: The VC Firm's Financial Operations with CFO, Mark Allen May 10, 2024

Ever wondered what the financial operations look like when you have billions in AUM at a top-tier VC firm?

In this episode, Sasha sits down with Mark Allen, CFO at General Catalyst. Mark discusses the non-obvious complexities of managing billions in assets across hundreds of portfolio companies, from capital reserve strategies, geographical breakdowns, to reporting requirements. He shares candid insights on navigating intense moments like the Silicon Valley Bank collapse, tech innovations being adopted by VC firms, how being a fund’s CFO comprises two roles of being CFO of a fund and a firm, advice for CFOs coming to pitch at General Catalyst, and much more.

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

---

SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

https://www.generalcatalyst.com/team/mark-allen

X/SOCIAL:

@sashaorloff (Sasha)

@generalcatalyst

TIMESTAMPS:

(00:00) Preview + Intro

(02:37) Mark Allen’s Journey to Being CFO of General Catalyst (GC)

(06:23) How the VC business model works

(08:44) Power law and reserves

(08:44) FP&A at a fund and capital reserve strategies

(11:20) Investment mix / geographical jurisdictions

(14:05) How GC maintains line of sight into their portfolio companies

(14:51) Sponsor: Attio

(17:04) Tools that Mark uses and revolutions in tools for CFOs

(19:12) Using AI for DDQs

(21:23) Inflection points in GC’s history

(24:19) Transition from hundreds of millions to billions of dollars in AUM

(26:01) Critical decision points for GC and Mark

(30:14) Sponsor: Turpentine

(30:58) Advice for CFOs on building trust with their leadership

(33:03) The importance of relationships as a CFO

(36:20) How General Catalyst’s work culture has changed after the pandemic

(39:18) Biggest misconceptions about being CFO at VC fund

(41:26) Advice for CFOs pitching to VCs

(42:26) Wrap

E5: Bringing Fun Back to Finance: Redesigning Business Modelling with Runway’s Siqi Chen, CEO May 02, 2024

Get an inside look at Runway - the visually stunning finance platform that's breaking conventions and captivating users with its approach to making finance fun again.

In this interview, founder and CEO Siqi Chen shares the arduous 3-year journey of iterating on the product from its inception during a meeting with the a16z team, working alongside early design partners, and the key inflection points that transformed Runway into what it is today. He emphasizes the importance of storytelling, having the data from different company functions centralized and in communication with each other, and fostering a culture where work, and finance in particular, is genuinely fun. Whether you're in finance or appreciate great product design, this is a must-watch episode.

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

---

SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS MENTIONED:

Runway Financial: https://runway.com/

Sandbox VR: https://sandboxvr.com/

X/SOCIAL:

@sashaorloff (Sasha)

@blader (Siqi)

@runwayco (Runway)

TIMESTAMPS:

(00:00) Introduction to Runway and Siqi Chen

(01:30) Background and Inspiration for Runway

(08:25) Challenges and Pivot during COVID-19

(12:29) Raising Capital and Product Iteration

(14:57)Sponsor: Attio

(16:25) Balancing Feature Parity and Novelty

(17:30) arly Design Partners and Customers

(19:36) Building an Audience and Storytelling

(23:01) Mission and Vision of Runway

(26:13) Convincing Users to Leave Excel

(38:05) Demo of Runway

(41:45) Development and Design Process

(42:49) Product Features and Future Plans

(44:43) Company Culture and Team

(46:45) Future of Runway

E4: Can Turning Down a Huge Upround Lead to a Greater Outcome? FloQast CFO Razzak Jallow Proves It Can Apr 25, 2024

In this episode, Sasha sits down with Razzak Jallow, CFO at FloQast, to discuss the evolving role of the modern CFO as a strategic partner across the organization. They dive into how he builds trust with the CEO, his approach to fostering product innovation responsibly, and why he turned down a financing round that would have doubled FloQast's valuation. Razzak also offers advice for aspiring CFOs on evaluating their first CFO role, skills like "precision Q&A", and hiring great talent

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

---

SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

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X/Twitter:

@sashaorloff (Sasha)

@floqast (Floqast)

@turpentinemedia

TIMESTAMPS:

(00:00) Preview

(02:22) How Razzak would describe the role of CFO

(02:55) Razzak’s superpowers: hiring and working with different people

(04:28) Building trust with different colleagues across different functions and cultures

(06:31) How to be the office of “how to” rather than “no”

(08:47) Having an effective discussion when there isn’t a right answer

(11:47) Changing the culture from being a no shop to a let’s be a partner shop

(14:26) Precision Q&A

(15:24) Sponsor: Attio

(17:22) What is FloQast

(19:34) Taking on the first CFO role and evaluating fit

(21:45) Deciding not to raise at a higher valuation and why

(25:20) Having a cash war chest

(27:02) Balancing product innovation and financial discipline as CFO

(30:00) The early milestones in a new product that unlock more capital

(31:32) Getting alignment on what payback on a new product should be

(38:16) Advice to future CFOs and an underrated skill people should work on more

(41:39) Building trust with your CEO

(45:27) Wrap

E3: Chris Bakke on Negotiating with Elon Musk and Setting Up An M&A from Day One (3x exits) Apr 18, 2024

Ever wonder what it's like to get a call from Elon Musk, wanting to buy your company?

In this episode, Sasha sits down with serial entrepreneur Chris Bakke to find out. Chris is the co-founder behind several successful startups, including Laskie, which was acquired by Elon Musk's X, and Interviewed, acquired by Indeed. Chris shares insights on: building a content-driven growth strategy as a founder that's led to his 200k+ follower base, navigating the M&A process and negotiating a deal directly with Musk, transitioning from founder to his current role in building X's job search platform, and much more.

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

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SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

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Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

X/Twitter:

@sashaorloff (Sasha)

@chrisjbakke (Chris)

@turpentinemedia

TIMESTAMPS:

(00:00) Chris Bakke Intro

(02:49) Laskie and what got Chris excited about it

(04:03) Content as a growth strategy

(07:29) How Chris found his content voice

(12:50) What’s the next thing in content

(19:32) Best practices as a founder to set up M&A as a future path

(24:36) Getting Indeed as a partner, investor, and acquirer of Interviewed

(26:51) Laskie’s M&A Story

(29:13) How Chris ended up talking to Elon about Laskie and Twitter recruiting

(35:11) What Chris would’ve done differently at Indeed

(37:12) Common mistakes and misconceptions during the M&A process

(45:00) Chris’ most memorable X post, not of his own

(46:22) Wrap

E2: When COVID Hits and You are CFO at Instacart with Sagar Sanghvi Apr 11, 2024

In this episode, Sasha sits down with Sagar Sanghvi, Current Partner at Accel and former CFO at Instacart. They discuss how Sagar drove the change in financial culture at Instacart and adapted rapidly to Whole Food’s acquisition by Amazon, scaling Instacart during the COVID pandemic, the balance between growth at all costs and unit economics, Sagar’s transition from CFO at Instacart to being Partner at the venture firm Accel, and much more.

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

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SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast: Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

https://www.accel.com/people/sagar-sanghvi

X/SOCIAL:

@sashaorloff (Sasha)

@spsanghvi4 (Sagar)

@turpentinemedia

CONTACT:

sps@accel.com

TIMESTAMPS:

(00:00) Preview and Intro

(02:30) Sagar's time at Instacart

(04:29) Training from Goldman and KKR

(06:58) When to transition to unit economic focus instead of growth at all costs

(08:31) The process of changing a financial culture at a company

(10:57) Advice for CFOs in driving culture with a founder where financial discipline is not present yet

(13:39) Sponsor: Attio

(14:55) How do you bring colleagues from other functions into alignment

(17:22) Amazon's acquisition of Whole Foods and Instacart's internal dynamics

(20:17) Signs that Amazon's acquisition of Whole Foods was a positive infection for Instacart

(21:43) Instacart's wartime and tactical parts of Sagar's job during wartimes

(24:04) Size of Instacart's finance team

(25:10) What Sagar would have done differently in response to the acquisition

(27:54) Sagar's VP of Strategy transition to CFO at Instacart

(30:13) Balancing growth versus profitability

(36:27) Instacart during COVID and lockdown

(40:41) Sagar's transition to Accel and VC

(44:59) Advice for CFOs positioning themselves to VC

(47:34) What gets Sagar excited about a deal?

(49:58) Wrap

E1: Making Decisions in Hyper Growth with Former WeWork Strategic CFO Casey Woo Apr 08, 2024

In the debut episode of Turpentine Finance, host Sasha Orloff sits down with Casey Woo, Founder of Operator's Guild, GP at Fog Ventures, and WeWork's former Global Head of Strategic Finance. They unpack the value of being a business-first CFO, the lessons learned from working in pressure-cooker settings like WeWork, how CEOs can evaluate CFOs (and vice versa), and frameworks for being a career 'specialist generalist'.

This show is a part of the Turpentine podcast network. Learn more: www.turpentine.co

---

SPONSORS:

Attio is the next generation of CRM. It’s powerful, flexible and easily configures to the unique way your startup runs, whatever your go-to-market motion. The next era deserves a better CRM. Join ElevenLabs, Replicate, Modal and more at https://bit.ly/attioturpentine

---

Recommended Podcast:

Company Breakdowns

Each episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episode is on Rubrik - which just IPO'd. Coming up this season: Databricks, Reddit + more,

Spotify

Apple

📈 ECON 102 W/ NOAH SMITH

Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

---

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

---

LINKS:

Operator's Guild: https://operators-guild.com/

Fog Ventures: https://www.fog.ventures/

Casey's Linkedin: https://www.linkedin.com/in/caseywoo

Casey's contact: hello@operators-guild.com

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X/Twitter

@sashaorloff (Sasha)

@caseyswoo (Casey)

@FogVentures (Fog)

@turpentinemedia