Something Ventured -- Silicon Valley Podcast

As Burning Man rolls around once again, is it still relevant to Silicon Valley? Reports of lower attendance this year, as the newer arrivals to Silicon Valley say "pass". A deep dive into this crazy event in the desert. Kent and Michael discuss the evolution, culture, and commercialization of the Burning Man festival. Event History Kent and Michael trace the origins of Burning Man from its 1986 beginnings on a beach to its current location in the Nevada desert. They discuss the documentary Spark: A Burning Man Story, noting how the event transitioned from an anarchic, unorganized gathering of "counterculture weirdos" to a highly structured society. The early era was characterized by a lack of formal infrastructure and a sense of pure anarchy. A turning point occurred around 1996 following incidents involving safety and deaths, leading to increased organization. The modern event functions with significant infrastructure, including a dedicated Department of Public Works (DPW) and professional management teams that resemble military operations. Cultural Shifts The conversation focuses on the tension between the original "burner" ethos and the influx of wealth from Silicon Valley. Michael notes that while many claim the event is about escaping society, participants have actually built their own complex bureaucracy and meritocracy. Plug and Play camps allow wealthy participants to fly in and experience the desert without the traditional labor of building camps or art. The introduction of ticket lotteries and scarcity has changed the social dynamic, moving away from open access toward a curated experience. There is ongoing debate regarding whether the event has "sold out" due to the presence of high-net-worth individuals and luxury amenities. Silicon Valley Influence Michael and Kent explore why Silicon Valley has effectively "hijacked" the festival, treating it as a massive networking event for tech elites. They reference an article by Nick Bilton in the New York Times regarding how tech leaders often pretend to be indifferent to money while simultaneously dominating spaces like Burning Man. The event serves as a primal networking roadshow where executives can interact outside of traditional corporate settings. The transition toward a more organized, "curated" festival is seen as an inevitable result of managing large populations and scarce resources. How does the increasing corporatization affect the long-term survival of the original artistic mission?

Sheel Mohnot is co-founder of Better Tomorrow Ventures, a venture firm that leads rounds in pre-seed and seed-stage fintech companies. It is one of the most active fintech investors in the world. Sheel has spent the last decade in fintech — first as an operator and angel, then as a founder of his own firm. In this conversation, he walks me through the unconventional path that led him into venture, including time spent in India working in microfinance, and why he believes a focused fintech strategy makes sense. We dig into some of his biggest early misses, including passing on both Robinhood and Chime, and what those decisions taught him about recognizing real customer shifts. Sheel also gives a clear-eyed view of today's hypergrowth environment, the gap between flashy numbers and durable businesses, and how AI is actually showing up in the day-to-day work of venture capital. We also talk about the growing political involvement of tech leaders, the challenges facing San Francisco, and what he's most excited about looking ahead — from self-driving cars to the quieter, more practical uses of AI. A candid conversation with one of fintech's more thoughtful investors. Better Tomorrow Ventures Sheel on X

In this episode of Something Ventured, Kent Lindstrom sits down with Mark Suster, Managing Partner at Upfront Ventures and one of Los Angeles' most prominent venture capitalists. Mark shares his unconventional journey from early computer programming in the 1980s, building and selling software companies, to becoming a VC — including the surprising challenges of the transition and why he created Launch Pad LA to stay connected to founders. The conversation explores the fundamental differences between being a founder and a venture capitalist, particularly the emotional "amplitude" of highs and lows, crisis frequency, and the long-term nature of measuring success in VC. Mark also dives deep into why Los Angeles has become a major hub for hard tech, aerospace, space, national defense, maritime innovation, and next-generation energy solutions (including nuclear applications on ships and in space). He makes a compelling case for LA's strengths in manufacturing, trade, and deep tech versus Silicon Valley's dominance in software and AI. Additional highlights include Mark's thoughts on nonconformity in investing, returning capital to LPs, the importance of government relations for startups, and his optimistic view of LA's future despite recent challenges. A thoughtful, wide-ranging discussion full of historical context, contrarian insights, and forward-looking vision on American innovation and resilience. Books Mark mentions in this podcast:   Miller, Chris. Chip War: The Fight for the World's Most Critical Technology. Scribner, 2022.   Herman, Arthur. Freedom's Forge: How American Business Produced Victory in World War II. Random House, 2012. Mark Suster: Upfront Ventures. |  LInkedIn | X  Thoughts? Drop a comment.

Andy McLoughlin is Managing Partner at Uncork Capital (formerly SoftTech VC). We discuss Andy's journey from co-founding Huddle -- racking servers in the Docklands and building their own payment system before Stripe -- to Silicon Valley. He was an early angel investor in companies like Postmates, eventually joining Jeff Clavier's venture firm SoftTech, now Uncork Capital. We dive into the golden era of "super angels," collaborative seed rounds, and famous near-misses like Uber and Twilio. Other topics include how seed funds like Uncork stay relevant in a world dominated by mega-funds, why specialized early-stage investors often serve founders better than big brand names, and how to find those non-obvious deals before they become consensus. Andy also shares what it felt like to step away from operating a company, the power of "knowing thyself," and how he's helping build Uncork into a firm that stays sharp through founder empathy and relentless context-switching. We also cover: The story behind Founders Pledge and giving back The British "GBx" network in Silicon Valley San Francisco's turnaround, tech getting political, and why local government actually matters The AI revolution — why everything feels like an AI company right now, what's overhyped, and why we're still in the very earliest innings Uncork Capital Something Ventured

In this episode of Something Ventured I dive into the explosive controversy shaking Silicon Valley: California's proposed one-time 5% "Billionaires Tax" ballot initiative. Filed by the powerful healthcare workers union SEIU-UHW, the measure would impose a retroactive 5% levy on the net worth of individuals worth $1 billion or more (as of January 1, 2026), aiming to raise around $100 billion to shore up the state's healthcare system and support education amid looming federal funding cuts. I break down why this has sparked panic among the ultra-wealthy — including Google co-founders Larry Page and Sergey Brin, who have already moved business entities out of state (along with others like David Sacks) — potentially costing California trillions in departing wealth and innovation. I explain key concerns: The tax applies to unrealized gains and even control/voting shares in companies (which could hit founders like Page and Brin far harder than a simple 5% of their personal stock holdings).  Fears that a "one-time" tax on billionaires could expand into an ongoing wealth tax affecting the middle class (just like the federal income tax did). How deceptive ballot naming, union funding power, and shifting political winds (including support from Rep. Ro Khanna) make passage seem scarily plausible — despite opposition from Gov. Gavin Newsom. I also also consider the value billionaires create (think iPhones, Amazon deliveries, and massive charitable giving), highlight how the top 1% already pay a huge share of California's taxes, and contemplate stifled innovation, capital flight, and long-term damage to the state's economy. From ghost-town fears for Silicon Valley to broader debates on wealth, fairness, and government overreach — this is the inside story straight from the heart of tech. Stay tuned for more unfiltered takes on what's really happening in Silicon Valley and beyond.