Startup Istanbul Podcast

Last month, I was in San Francisco for the a16z Speedrun Demo Day — surrounded by brilliant Substack writers, top founders, and sharp investors.I had the chance to meet so many great friends:* Great opportunity to meet Andrew Chen and Kevin Kelly* Hung out with writer friends Guillermo and Ruben* Met Devansh, founder of Artificial Intelligence Made Simple* Spoke with Alex Xu, founder of @bytebytego* Caught up with my longtime friend Marvin Liao from The Hard Fork* Took Waymo for the first time (yes, I geeked out)* Thanks to Ryan for this wonderful invitation!And just last week, I had the opportunity to sit down and record a deep conversation about a16z Speedrun with Josh Lu.Here’s what I learned — and what founders everywhere can take away.A Career Like a SpeedrunJosh described his own journey like a video game speedrun – skipping unnecessary steps, learning on the fly, going fast, and iterating. From Yahoo intern to product manager to investor, he’s always been building fast."Speedrun is a great metaphor for the founder journey — you don’t stop to collect all the coins, you just go." – JoshUnlearning Is a SuperpowerWhether it was MySpace games, Facebook virality, or mobile hits, Josh learned one thing over and over: the best product people unlearn fast.The games industry evolves constantly. What worked last year won’t work now. Great PMs drop outdated assumptions quickly.This is true far beyond games. In startups, what made you win early might hold you back later.What Makes a Great Product Manager?Josh’s top two traits:* Intellectual humility – Can you unlearn quickly and change your mind?* Love for the product – The best PMs deeply use the product and generate most of the bug reports themselves.Blank slates often outperform pedigreed hires — if they’re hungry and curious.Data Beats Intuition (But Only If You Can Get It)In free-to-play games, data is everywhere. In AAA games, it’s scarce. Josh became more data-driven by watching his assumptions fail — repeatedly.“My taste in games didn’t match what real players actually liked. I learned to trust the numbers.”The lesson for founders: intuition is great for starting, but validating with real usage is what builds winners.Founder Selection in VC Is DifferentIn Speedrun, most startups are at the idea stage. No traction. Sometimes no game yet.That’s why Josh focuses almost entirely on the founder:* Are they resilient?* Do they have a reason to build this?* Are they thinking beyond product into company-building?"You can’t fake resilience in a 15-minute pitch. It shows up fast."Startup Istanbul is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.AI in Gaming = Compression of CostJosh shared how his last game at Blizzard — Diablo Immortal — cost $250M to make. But with today’s AI tools?That same level of experience may soon cost $150M… then less. AI helps studios do more with less — better assets, faster iteration, cheaper production.Great for players. Great for small studios. The bar is rising, but so is access.No-Code Gaming Is ComingJosh believes non-coders with great vision will increasingly build amazing games, thanks to tools like Roblox, Discord-native games, and UGC platforms.The skill set of the next generation of game builders? Vision, persistence, creativity — not necessarily code.Turkey: A Rising Gaming HubJosh has personally worked with 3 Turkish gaming startups in Speedrun. He points to role models like Peak Games and Rollic as catalysts for Turkey’s startup flywheel."Turkish founders are ambitious, creative, and humble. They’re not afraid to copy what works — and that’s a strength."What Speedrun Looks for* Founder-market fit* Product obsession* Clear problem definition* Early signs of resilienceBonus points if you’ve validated something — even tiny.Speedrun is IRL in California. Cohorts are small. Network is powerful.Final TakeawayWhether you’re building a game or a startup — the mindset is the same:* Stay curious.* Move fast.* Learn from others.* Be willing to change.Speedrun isn’t just a program. It’s a mindset.Thanks to Josh for sharing so generously. You can learn more at SpeedrunThanks for reading Startup Istanbul! This post is public so feel free to share it. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I had an eye-opening chat with Jason Fried on my podcast about startup funding. His perspective challenges everything most founders believe.Controversial truth that needs to be said:”Not all external money is worth taking.”Here's the uncomfortable truth about funding:The less money you take early, the stronger you'll be.Why? Let's break it down:1. The Independence Tax * You're now on someone else's timeline* External pressures drive decisions* Long-term vision gets compromised* = Lost autonomy you can't buy back2. The Speed Trap * Pressure to show fast growth* Premature scaling kills* Forced to "go big or go home"* = Racing toward wrong goals3. What Nobody Tells You * Investors want specific timeframes* Your timeline ≠ Their timeline* "Going fast" means spending big* = Misaligned incentives4. What Actually Works:✓ Build sustainable business first✓ Stay independent longer✓ Keep full control✓ Choose your own path= Power to build your wayThe Reality Check:Independence is your competitive advantage.Money comes with invisible strings.Remember:"The best funding round might be the one you don't take."Comment a 🧿 if you're tired of the "raise fast" pressure!Startup Istanbul is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

Big companies don't fail from lack of innovation.They fail from successful resistance to it.Episode with Tendayi Viki about startups and corporate innovation.The Warning Signs:* "We're too busy running the business"* "Let's not mess with what works"* "Innovation is a distraction"* "Our customers love us as we are"The Real Cost:* Market share: Slow decline* Revenue: Looks fine until it doesn't* Competition: Invisible then invincible* Innovation: Too little, too lateWhat Actually Works:✓ Treat success as a threat✓ Innovation before desperation✓ Reward experiments, not just results✓ Build speedboats inside oil tankersRemember:"Success makes you strong.But it also makes you slow.By the time you feel the need to change,The market has already moved on."We've created a dedicated WhatsApp channel exclusively for our Startup Istanbul Substack members. It's the place to be for real-time discussions, valuable connections, and exclusive updates on the Istanbul startup ecosystem. Join us now - space is limited! Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

In this week's post, we're diving into the crucial topic of attracting investors, with insights from a true expert. I recently had the pleasure of speaking with Ed Kang, a seasoned startup advisor and investor, who brings a wealth of experience to the table. Ed's worked with hundreds of startups, and he's seen firsthand what works and what doesn't when it comes to fundraising.This episode focused on practical, actionable strategies to help founders navigate the complexities of investor outreach, especially as we look towards 2025. We covered everything from crafting effective cold emails to building long-term relationships.Ready to get started? Let's dive in:Cold Emails That Work* Keep them short: Five sentences max.* Include:* Why you're reaching out* The problem you're solving* Your solution* Your traction* Your raise amount* Match the investor type: Seed for seed, Series A for Series A.Grab Their Attention* Subject Lines: Make them pop and grab attention fast.* Preview: The first line they see? Skip the fluff.* Personal Touch: Angel investors? Get personal. VCs? Less crucial.Smart Follow-Up & Relationships* Follow Up: Once or twice, weeks later, with something new.* Long-Term: Think relationship, not just money. Referrals matter.* Be Honest: Share good and bad news, with solutions.Smart Fundraising Strategy* Bootstrap First: Build your product before raising funds.* The "No Ask" Slide: Creates FOMO (fear of missing out).* Network: Friends, family, then others.Feedback & 2025 Trends* Get Feedback: Ask for the hard truth.* 2025: AI will be big, distribution is key.* Cycles: Be ready for market trends and changes.Bottom LineBe smart, be honest, and build real relationships. That's how you win. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

Just had an incredible chat with Ed Kang from Startups.com about what really happens when investors look at your deck.Here's the shocking truth:You don't have 10 minutes.You have:* 1 seconds for the cover* 3 seconds for first 3 slides* 30 seconds if you're lucky* 3 minutes if you're exceptionalIt's your pitch before the pitch.The 3-Second Reality Check:* Cover slide* Problem* SolutionThat's it. Make it count.Here's what makes investors instantly close your deck:❌ Unclear problem statement❌ Paragraphs of text❌ Too many bullet points❌ Marketing language to investors❌ Hyperbolic statements ("We're disrupting everything!")1. What actually works:* Cover Slide Magic 🎨* Clear one-line pitch* No fluff or buzz words* Professional layout* Sets the tone for everything2. Problem Slide Power 💪* Be concise but compelling* Show size (e.g., "40M teenagers face this")* Make it impossible to ignore* No generic statements ("Banking is broken")3. Solution Slide Success 🚀* Match exactly to the problem* Show why you're different* Be specific, not fluffy* Demonstrate deep understandingThe Hidden Truth:You're not pitching for investment in the first deck.You're pitching for the "maybe pile."That's it. There is no "yes pile" at this stage.Remember:* Simple > complex* Clarity > creativity* Evidence > promises* Numbers > adjectivesWant to know if your deck works?Show it to someone for 30 seconds.If they can't repeat your pitch back to you...Start over.Don't Miss Out! Join our WhatsApp Channel. Stay connected, stay ahead, and let's grow together! Join Now! Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I had a great chat with Ilya Strebulaev recently. Ilya is a professor at Stanford GSB, author of 'The Venture Mindset' book, and knows a ton about venture capital and innovation. We talked about what makes a good VC versus a great one, and I think you'll find some of these takeaways super interesting.Key TakeawaysConsistency Over Luck* Great venture capitalists aren’t just lucky—they’re consistent.* They have solid processes that help them navigate the unpredictable world of startups.* It’s not about getting one decision right; it’s about doing it repeatedly.* A clear process turns luck into a repeatable skill.The Fastlane vs. Slowlane* Fastlane Approach:* VCs analyze a lot of deals—about 100—to invest in just one.* They need to quickly spot red flags and decide whether to move on or dig deeper.* Slowlane Approach:* Once in the slowlane, VCs shift focus to asking why they should invest, not just why they shouldn’t.* This mindset helps them build real conviction in an opportunity.The Venture Mindset* The venture mindset isn’t just for VCs—founders can benefit too.* Founders who understand how investors think are more likely to secure funding.* Ilya co-wrote a book called "The Venture Mindset" that explores this way of thinking in more detail.Focusing on Home Runs* "Home runs matter, strikeouts don’t."* Venture investing is about finding one or two startups that will make a huge difference in your portfolio.* The power law is key—one big win can make up for a lot of smaller losses.Embracing Failure, Especially in Emerging Markets* Different cultures have different attitudes towards failure.* In venture capital, embracing failure is essential.* In emerging markets like Turkey, accepting failure can be a key driver for growth and innovation.Final Thoughts* Being a successful VC isn’t just about picking winners.* It’s about having a consistent system that leads you to the best opportunities repeatedly.* Ilya’s insights were informative and inspiring, especially for founders and aspiring VCs.Don't Miss Out! Join our WhatsApp Channel. Stay connected, stay ahead, and let's grow together! Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

In my latest podcast episode, I had the pleasure of speaking with Jeremiah Gardner, a seasoned innovator and author of "The Lean Brand." Jeremiah's journey from the startup world to implementing lean innovation practices in healthcare offers valuable insights for entrepreneurs and corporate innovators alike.Key Takeaways* Lean Startup in Healthcare: Contrary to initial skepticism, lean startup methodologies can be successfully applied in healthcare. However, the application requires careful adaptation to the unique challenges of the industry.* Progress Metrics: Jeremiah introduced the concept of progress metrics as a way to objectively measure pre-market innovation portfolios. This approach helps in making more informed decisions about resource allocation in early-stage product development.* Balancing Act: Innovation leaders must strike a delicate balance between accelerating time to market and mitigating risks. This balance is crucial for successful product launches and long-term innovation success.* Coaching Meta-Skills: Jeremiah emphasized the importance of coaching in innovation practices. He outlined three meta-skills for effective coaching: self-awareness, observation, and intervention.* Hearts and Minds Game: Innovation management is as much about managing people and behaviors as it is about processes and methodologies. Jeremiah stressed the importance of understanding the human element in driving innovation.To learn more about Jeremiah's work and insights, visit his blog at jeremiahgardner.comDon't Miss Out! 🚀 Join our WhatsApp Channel for exclusive insights, startup tips, and behind-the-scenes updates you won't find anywhere else. Stay connected, stay ahead, and let's grow together! 🌟 Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

Fundraising is a critical stage for any startup, but it's not without its pitfalls. In a recent conversation with seasoned venture capitalist Andrew Romans, we delved into the often-overlooked dangers of overfunding and how it can jeopardize a startup's long-term success.The Illusion of SuccessMany founders equate a high valuation with success, believing that raising a large round is a validation of their business. However, as Andrew points out, this can be a dangerous illusion. Overvaluation sets unrealistic expectations for future rounds and puts immense pressure on the team to deliver exceptional results. If the company fails to meet these expectations, it can lead to a down round, demoralize employees, and scare away potential investors.The Spreadsheet StrategyTo avoid the overfunding trap, Andrew recommends a simple yet effective strategy: create a spreadsheet to model different funding scenarios. This allows founders to understand the impact of various funding amounts and valuations on their ownership and potential exit strategies. By visualizing the potential outcomes, founders can make more informed decisions about how much money to raise and at what valuation.Building a Sustainable BusinessInstead of chasing high valuations, Andrew emphasizes the importance of building a sustainable business with strong unit economics. This means ensuring that the company's revenue exceeds its costs on a per-unit basis. A sustainable business model provides more control and flexibility, allowing the company to weather the inevitable storms that come with building a startup.The VC PerspectiveFrom a VC's perspective, Andrew highlights the importance of communication and transparency in the founder-VC relationship. He encourages founders to share both good and bad news with their investors, as this fosters trust and collaboration. Additionally, he advises founders to be selective about the investors they bring on board, ensuring that they add value beyond just capital.Other Key TopicsIn addition to fundraising, we also discussed:* The importance of finding the right co-founder(s): Andrew emphasizes that this is one of the most critical decisions a founder will make.* The evolving landscape of venture capital: We explore how the industry has changed over the past few decades, with the rise of micro-VCs and the increasing focus on AI-powered solutions.* The role of accelerators: Andrew shares his insights on the value accelerators can bring to early-stage startups.Key Takeaways* Overfunding can be a trap: High valuations can create unrealistic expectations and lead to down rounds.* Focus on sustainability: Build a business with strong unit economics to ensure long-term success.* Model your fundraising: Use a spreadsheet to understand the impact of different funding scenarios.* Communicate with your investors: Build a strong relationship based on trust and transparency.* Choose your investors wisely: Ensure they bring value beyond just capital.* Find the right co-founder(s): This is a critical decision that can significantly impact your startup's trajectory.* Understand the VC landscape: Be aware of the current trends and players in the industry.* Consider accelerators: They can provide valuable resources and mentorship for early-stage startups.Fundraising is a complex process, but by understanding the risks and focusing on building a sustainable business, founders can increase their chances of success. Remember, the goal is not just to raise money, but to build a company that can thrive in the long run. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I recently had Touradj Barman on my podcast to discuss his entrepreneurial journey and founding Up’n Go, a contactless payment solution for restaurants. Here are some of the key lessons I took away from our conversation:* Start with solving a specific, narrow problem - Up & Go began by simply focusing on easing check splitting* Get a customer before building the product - Partnered with a restaurant first to customize the product to their needs* Constraints force focus - Bootstrapping kept costs low so they could focus on the essentials rather than getting distracted* Turn challenges into opportunities - Pandemic accelerated contactless payment adoption, driving huge transaction growth* Persistence pays off - Depth of experience matters in competitive space; Up & Go now leads competitors in volume Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I recently had the pleasure of speaking with Anna Strubel, co-founder of Cara Health, an innovative startup aiming to improve the maternity experience for women and families. Cara Health began by offering in-person services like yoga, midwife appointments, and family education classes. But after seeing a need for more comprehensive support throughout pregnancy and postpartum, Anna and her co-founders Carina Vantsi, Keiro Vantsi developed a hybrid model combining online and offline resources. Key Takeaways:* After training as a pediatric nurse in Germany, Anna became passionate about supporting women throughout the entire maternity journey - not just the hospital experience. Working in Canada and Berlin exposed her to the postpartum care many women lack. * Major "aha moments" that sparked Cara Health: realizing women often don't know what resources could help them, seeing how fragmented the maternity system is, and recognizing the gaps between different care resources. Anna and her co-founders saw tech as a way to bridge these gaps.* Cara Health combines multiple "verticals" into one platform: knowledge articles, practitioner appointments, classes, and product recommendations. Having it all in one place aims to reduce confusion and errors.* Ensuring accurate info is crucial. Cara Health has medical experts review all content and a medical advisory board with OBGYNs and family doctors. Credibility builds trust.* Word of mouth among midwives drives acquisition, as they're happy to refer women to a medically-verified resource that also helps their own work.* Expansion focuses on markets with fragmented maternity care, starting with Germany. The UK and DACH region are next target markets. * Key industry trends are demand for medically-verified info, at-home health tracking, and AI personalization. Cara Health aims to stay ahead of these needs.* Patience and focusing on the core mission, not just quick wins, are critical skills Anna has learned. Having co-founder support also bolsters resilience when challenged.Anna's passion for innovating maternity care shines through. Cara Health represents an exciting melding of online and offline care that could greatly benefit families worldwide. I'm excited to see their continued impact.Everything You Need to Know About Lean Startup in 12 Minutes Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I had the pleasure of speaking with Adeo Ressi, a well-known figure in the world of entrepreneurship and venture capital. Adeo is the founder of Founder Institute. He has inspired many entrepreneurs. He also started VC Lab, a leading accelerator program for fund managers, where I am an early alumnus of the program.Last year, I read a book about Elon Musk. I learned that Adeo is a close friend of Elon Musk from their university days. They shared a home at university. Adeo even traveled with Elon to Russia to negotiate buying rocket engines in the early days of SpaceX.For more details, I recommend reading the book by Walter Isaacson.Adeo shared his deep insights into what it takes to succeed as an entrepreneur and offered valuable advice for those just starting out. From discussing innovative business ideas to navigating the challenges of the startup world, this episode is packed with wisdom and practical tips. "The key to securing funding is understanding what investors are looking for: a clear and concise pitch, a strong team, and potential for growth and scalability." — Adeo RessiHighlights from the ConversationAdeo Ressi on Entrepreneurship* "I'm a huge fan of Entrepreneurship and Venture Capital."* Discussed the importance of innovation and creativity.* Emphasized the need for resilience and adaptability.Starting a Business* Adeo shared valuable tips for aspiring entrepreneurs:* Identify a unique problem to solve.* Build a strong team.* Stay committed and passionate about your vision.Venture Capital Insights* Adeo's perspective on securing funding:* Understand what investors look for.* Be clear and concise in your pitch.* Show potential for growth and scalability.Challenges Faced by Entrepreneurs* Common hurdles in the startup journey:* Navigating market competition.* Managing limited resources.* Maintaining work-life balance.Other Topics The Future of Technology* Impact of emerging technologies on businesses.* Predictions on trends shaping the entrepreneurial landscape.Personal Experiences* Adeo shared stories from his own entrepreneurial journey.* Highlighted lessons learned from both successes and failures.Advice for Young Entrepreneurs* Stay curious and continuously learn.* Network with other entrepreneurs and mentors.* Be prepared to pivot when necessary."Entrepreneurship is a journey filled with challenges. Navigating market competition, managing limited resources, and maintaining work-life balance are all part of the process." — Adeo RessiHis insights into entrepreneurship and venture capital are both inspiring and actionable. Feel free to share your thoughts and takeaways from this episode in the comments. Additionally, Udemy started at the Founder Institute and is a great success story of the acceleration program. Check out Eren's recording from earlier years at the Startup Istanbul conference. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I'm excited to share some highlights from my recent conversation with Jerry Neumann, a seasoned venture capitalist and co-author of "Founder vs. Investor." This episode was packed with valuable insights on the dynamics between founders and investors, making investment decisions, and the crucial role of uncertainty in the startup world. Here's a summary of our discussion for those who couldn't tune in.The Importance of Embracing UncertaintyOne of the key themes of our conversation was the role of uncertainty in the success of startups. Jerry emphasized that every startup faces a degree of uncertainty, and it's this uncertainty that often creates a moat, keeping larger companies at bay. He shared the example of Apple and IBM in the early days of personal computing, illustrating how startups can leverage uncertainty to establish themselves in the market.Investment Decisions: Data vs. IntuitionJerry provided a fascinating look into his framework for making investment decisions, especially in early-stage companies. He mentioned that while data about the market and competitors is essential, much of the decision-making process at this stage relies on intuition. Evaluating the founders' knowledge of their market and their ability to execute their vision is crucial, as there's often limited concrete data to go on.The Dynamic Between Founders and InvestorsA significant portion of our discussion revolved around the different incentives and goals of founders and investors. Jerry highlighted that while VCs are primarily focused on maximizing returns, founders are often driven by a passion for building something meaningful. This divergence can lead to conflicts, especially when it comes to decisions about scaling or selling the company. Jerry's advice to founders is to conduct thorough due diligence on their potential investors, ensuring they understand their motivations and track record. "You shouldn't ask your board how to run the company. Instead, present your issues along with potential solutions, demonstrate leadership, and seek their feedback to refine your ideas. Show them that you know how to solve problems and are looking for their input to improve your approach, not to come up with solutions for you." - Jerry NeumannLessons from Columbia UniversityAs an educator at Columbia University, Jerry also shared some of the key lessons he imparts to his students. He stressed the importance of understanding that failure is not the end but rather a part of the entrepreneurial journey. Jerry encourages aspiring entrepreneurs to embrace failure as a learning opportunity and to remain adaptable in the face of changing circumstances.The Role of CompetitionWe also touched on the role of competition and how startups can position themselves strategically. Jerry pointed out that avoiding direct competition with large, established companies is often wise. Instead, startups should focus on areas where they can create unique value and build a sustainable competitive advantage.Looking AheadAs we wrapped up our conversation, I asked Jerry about his future plans and whether we can expect another book from him soon. While he's still recovering from the last one, he hinted that there might be more to come in the future.I hope you find these insights as enlightening as I did. If you haven't already, be sure to listen to the full episode for more in-depth discussion and valuable takeaways. As always, feel free to share your thoughts and comments. I look forward to hearing from you! Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I recently had an insightful conversation with Derek Andersen, the visionary founder of Bevy and Startup Grind, on my podcast. Derek's journey is a testament to the power of community building and the transformative impact it can have on businesses and individuals alike. I wanted to share some key takeaways from our chat in this blog post.From Startup Grind to Bevy: A Founder's JourneyDerek's passion for community building led him to create Startup Grind in 2010, a global platform that connects and supports entrepreneurs. Startup Grind's success is a testament to its core values: giving more than you take, helping others first, and making friends.As Startup Grind grew, Derek and his team realized the need for better tools to manage and scale their community efforts. This led to the creation of Bevy, an AI-powered platform designed to streamline community management and growth. It's a great example of how identifying and addressing real-world problems can lead to innovative solutions.The Power of Community in Today's WorldIn our conversation, Derek emphasized the increasing importance of community building in today's world. In the digital age, where connections can often feel fleeting, communities provide a sense of belonging, support, and shared purpose. For businesses, fostering a strong community can lead to increased customer loyalty, engagement, and even product innovation.Derek's insights on leveraging AI in community management were particularly interesting. AI can help automate repetitive tasks, personalize experiences, and provide valuable insights into community behavior. However, Derek also stressed the importance of maintaining a human touch in community building. AI is a tool to enhance, not replace, human connection.Key Takeaways for Building Thriving CommunitiesHere are some key lessons I took away from my conversation with Derek:* Start with a clear purpose: What do you want your community to achieve?* Focus on giving value: Offer your members something they can't find elsewhere.* Embrace technology: Use tools like Bevy to streamline your efforts.* Never forget the human touch: Foster genuine connections within your community.If you're interested in learning more about community building, I highly recommend checking out the full episode of my podcast with Derek Andersen. It's packed with valuable insights and practical advice for anyone looking to build a thriving community.Let me know your thoughts in the comments below! Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I recently had the pleasure of interviewing Ida Stjernström, co-founder of Silo Team, on my podcast. Silo Team is a startup working to revolutionize technical onboarding and reduce developer turnover.Ida shared the backstory of how her brother Rasmus’ frustration with chaotic onboarding at tech companies sparked the idea for their solution. After researching over 400 tech teams globally, they realized the problem of losing developers went way beyond just onboarding.Key insights Ida discussed:* Silo Team centralizes knowledge and streamlines onboarding to integrate developers faster. Their approach is a competitive advantage.* They already have paying POCs and stellar feedback from CTOs and engineering leaders.* Patience and resilience have been critical as a founder. You have to bounce back from failures and stay adaptable.* Participating in pitch competitions got them investor interest and beta signups from developers eager for the solution.* Accelerators like Sting gave invaluable early support in the Swedish startup ecosystem.* As the team grows, Ida feels increased responsibility for decisions impacting employees, investors and customers.I appreciated the inside look at Ida's entrepreneurial journey. She highlighted the vision, traction, lessons learned and responsibility she feels as Silo Team scales. It was a privilege to host her and learn more about retaining developers. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

In my recent Substak podcast episode, I spoke with Adam Draper, founder of Boost VC and third-generation VC investor, about his unconventional path in venture capital.Coming from a long lineage of successful investors, Adam has made his own mark in the VC world. He is the founder and managing director of Boost VC, a fund focused on sci-fi technology and founders pursuing “impossible” ideas. Adam has led early investments in startups like Coinbase, Vints, and Amplitude.Adam shared the story behind his prescient early investment in Coinbase and founder Brian Armstrong. In the early Bitcoin days when few recognized crypto's potential, Brian matter-of-factly predicted cryptocurrency would be a trillion-dollar opportunity. While skeptical at first, Adam was compelled by Brian's vision and conviction, leading him to invest in Coinbase's seed round and sparking his long-term interest in crypto.Throughout our conversation, Adam provided insights into his creative philosophy and strategy around venture capital:* He looks for overlooked problems and markets with important needs* Leverages disagreement within his firm to find promising investments* Seeks true partnership with founders based on trust* His investing ancestors instilled in him the drive to spot historic opportunities earlyAs Adam says, “I think venture is going through an evolutionary change right now...Earlier stage [investing] is about optimization of luck. Later stage is the optimization of access...We’re trying to figure out who has the best shot at building an iconic company.”You can listen to our full conversation on spotify, youtube and substack of course. And be sure to check out Adam's book “Breakfast with Pops” for an inside look at the Draper family's VC wisdom. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

🎧 Listen on Spotify + watch on YouTubeRob Fitzpatrick, author of The Mom Test, recently joined me for an insightful conversation on my podcast. We discussed customer development, validating product ideas, his books, and more. Here are some of the key takeaways from our discussion:* When doing customer development, reveal your product vision to provide context but focus questions on their lives and experiences. Don't pitch or talk about your idea.* The Mom Test is a tool best suited for early, casual conversations where you need to uncover if customers care about the problem you're solving. It helps cut through false compliments and interest.* Don't seek 100% validation. Talk to a few people to go from 0% to 60% confident. Diminishing returns make it inefficient to keep confirming the same thing.* Warning signs you're getting bad data: Compliments, hypotheticals about the future, general opinions. Redirect to specific stories about their experiences.* Rob first got interested in entrepreneurship because he wanted independence and a direct connection between his work and results. He participated in Y Combinator in 2007, which showed him how fast successful founders can move.* Rob views venture capital as bundling many decisions together - you're optimizing for fast growth and rapid hiring. For his current lifestyle, bootstrapping is a better fit.* Rob is writing a new book on building online communities that help people make progress towards goals, which he calls outcome-oriented communities.I'm grateful to Rob for sharing his knowledge during our conversation. Be sure to check out the full episode for more insights on customer development, validating product ideas, and bootstrapping vs funding. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

🎧 Listen on Spotify + watch on YouTube Former Pannacotta founder Fernando Taliberti joins me to give a raw, honest postmortem on his failed calendar productivity startup. He shares the story of Panacota's journey, the emotional toll of shutting down, and his biggest lessons learned as an entrepreneur.Fernando Taliberti poured his heart and soul into building Panacotta, a startup focused on productivity. He had a passionate team, innovative tech, and even secured funding. But despite his efforts, Fernando ultimately had to shut down Panacotta.In this episode of my podcast, Fernando opens up about the raw and emotional journey of building and losing a startup. He shares the hard lessons learned, the mistakes made, and the resilience it took to navigate failure.Whether you're an aspiring entrepreneur, a seasoned founder, or simply curious about the startup world, this episode offers valuable insights into:* The importance of product-market fit* The challenges of fundraising and building a team* The emotional rollercoaster of entrepreneurship* The power of resilience and learning from mistakesFernando provides so much wisdom for fellow founders facing hardships. Don't miss his insightful reflections on two startup journeys!(If anyone has experienced a startup shutdown, I'd love to have you on my podcast to analyze the post-mortem)Check these articles* AI Takeover: Self-Driving Cars to Suits on Edge - Will Generative AI Eat Your Job?* No.1 Customer acquisition strategy for new startups in crowded markets* a16z Raises$7.2bn, Optimal VC Portfolio Construction, AI Index* Paul Graham: Are You Building Fake Product-Market Fit ? | VC Remote Jobs & More* Thinking About Quitting? You Should Do This First.* 10 Ways to Make Money as a Solopreneur (with Pros and Cons)* Board of Directors: The 80/20 on how to run an effective board and how to fail at fundraising.* Every Team Has an A*****e – How to Make Sure Yours Doesn't Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

🎧 Listen on Spotify + watch on YouTube I recently had the pleasure of speaking with Karl Marco, co-founder of Octo, an Egyptian fintech startup providing digital financial services, on my podcast. Karl shared invaluable lessons on building a fintech company from the ground up in Egypt. Here are some of the key takeaways from our conversation:* Octo aims to provide financial services to the unbanked and underbanked population in Egypt, offering a digital payment solution and a credit line combined in one.* The market in Egypt is largely untapped, with only 24 million out of 110 million Egyptians having bank accounts.* Octo focuses on the B segment, targeting employed individuals who are banked but lack access to formal credit.* The biggest challenge for Octo has been navigating the regulatory regime in Egypt and overcoming resistance to change in the financial industry.* Building a strong team that shares the vision and culture of the company is crucial for Octo's success.* Octo's plans for growth and expansion are focused on becoming a market leader in Egypt before considering expansion to other markets with similar financial structures and socioeconomic conditions.Startup Istanbul is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Check out these news articles and Substacks.How to Write for a LivingVenture CuratorThe Hybrid Hacker Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

In a recent Startup Istanbul podcast, Amanda Jacobson, co-founder of Radar, shared invaluable insights on building a fintech startup in Latin America.Radar provides payment reconciliation and payout automation for enterprises in Latin America. The problem they aim to solve is that as companies scale, their finance processes become extremely messy. Radar's products help clients understand the data behind their money flows to enable things like forecasting and automated money movement.Takeaways* Building a startup in Latin America requires a focus on product-market fit and profitability.* Listening to clients and iterating based on their feedback is crucial for success.* The treasury management space in Latin America is a blue ocean with significant opportunities for innovation.* Fundraising can be challenging, but building relationships with investors and being transparent about the company's vision and progress can help.* Having a collaborative culture and valuing the opinions of all team members is essential for building a successful startup.* Living and working in different Latin American countries provides valuable insights into the needs and challenges of the region.* The Latin American startup ecosystem is seeing trends such as high mobile penetration and increased digitization.* Resources and networks like Startup Chile and the Latitude Accelerator can provide valuable support and mentorship for founders.* Personal work-life balance varies depending on priorities and the stage of the startup.* Being patient with oneself and focusing on the long-term vision is important for navigating the challenges of entrepreneurship.Check out these news articles and Substacks.Digital Storm WeeklyThe VC CornerProduct Market Fit Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe

I recently had the pleasure of speaking with Dave McClure, founding partner of Practical VC and former founding partner of 500 Startups, on my podcast. Dave has been an active angel investor since the early 2000s and has invested in over 2000 startups during his venture career. Given his contrarian approaches and evolution from early to later stage investing, I was excited to pick Dave's brain on everything from the state of Silicon Valley to his lessons learned over the past two decades.1. The State of Silicon Valley* Seeing positive momentum in AI startups and events* Issues around crime, homeless, drugs being addressed* VC industry went through tough period but starting to rebound2. Early Days of 500 Startups* Named company 500 Startups despite skeptics* Contrarian strategies - large portfolios, global, accelerators* Difficulty fundraising with non-traditional approaches* Power law results validated broad portfolio thesis3. Investment Decision Making Then vs Now* Early stage - some traction and progress* Later stage - established growth and path to near term exit* Earlier - 200+ investments, minimal data* Now - concentrated 20-30 investments, all data-driven4. The Evolution of 500's Investment Strategies* Realized best value was in funds around years 6-8* Winners emerged and overtook fund performance* Now buying secondary fund stakes, not early stage5. How Fund Secondaries Work* Buying partial stakes from LPs or GPs* Not single companies, but whole fund slices* Underwriting based on unicorns, exits, write-downs* Anchoring on big winners, calculating total value6. Advantages of the Skip the J-Curve Approach* Faster returns than traditional VC funds* Condensed 3-5 year timeline* Discounted proven growth assets* Target 3-5x return vs 10-15 years7. How the Secondary Market is Evolving* Growing but constrained buyer demand* Many doing large transactions above Practical VC* Focus on funds, not just companies* Little competition for Practical VC's smaller deals8. Risks and Rewards in Secondary Investing* Assuming continuation of growth trajectory* High probability of exit in 3-5 years* Avoiding early stage uncertainty* Giving up 100x potential of early bets9. Advice to Emerging Managers* Differentiate your strategy to attract LPs* Deploying capital is easier than raising it* Have a unique niche and value-add10. Parting Thoughts on Technology* AI, robotics, climate tech most exciting* Still lots of runway in traditional spaces* Find progression of success vs earliest innovationDave shared so many valuable insights from his investing journey, spanning early home runs like Canva to his current secondary fund strategy. Some key takeaways for me were the power of differentiated strategies, maintaining discipline during downturns, and continually evaluating new approaches as the market evolves. Get full access to Startup Istanbul at newsletter.startupistanbul.com/subscribe