Join host Nataraj as he sits down with Aviel Ginsberg, the founder of Simply Measured (acquired by Sprout Social), managing director at Amazon's Alexa Accelerator, general partner at Founders Co-op, and now co-founder of Foundations, a shared workspace and accelerator designed to bolster Seattle's VC ecosystem.

About the Episode:

This episode explores Aviel's journey through the Seattle tech scene, from his arrival during the 2007 recession to his current venture. He discusses the evolution of Founders Co-op, their investment strategies, and the challenges faced by startups in the Pacific Northwest. Aviel shares insights into his investment philosophy, emphasizing the importance of founders' motivations and the long-term vision for their companies.

Aviel also delves into the creation of Foundations, a community-driven space aimed at connecting founders, investors, and mentors. He discusses the need for such an anchor in Seattle's ecosystem and how it addresses the unique challenges faced by startups in the region. The conversation touches upon the changing landscape of venture capital, the impact of large language models, and the future of Seattle's tech community.

About the Guest and Host:

Aviel Ginsberg: Co-founder of Foundations, founder of Simply Measured, managing director at Amazon's Alexa Accelerator, and general partner at Founders Co-op.

→ LinkedIn: https://www.linkedin.com/in/avielginzburg/

→ Website: https://seattlefoundations.org/

Nataraj: Host of the Startup Project podcast, Senior PM at Azure & Investor.

→ LinkedIn: / natarajsindam

→ Twitter: https://x.com/natarajsindam

→ Email updates: ⁠https://startupproject.substack.com/⁠

→ Website: ⁠⁠⁠https://thestartupproject.io⁠⁠⁠

Timestamps:

[00:00] Introduction

[00:30] What is Foundations?

[00:51] Aviel’s journey with Founders Co-op

[01:21] Navigating the 2007 Recession

[03:22] Early days in the Seattle tech scene

[03:36] Transitioning from employee to founder

[06:46] Founders Co-op’s current focus

[08:16] Evolving investment thesis

[08:45] The art of investing in founders

[10:47] The importance of people over product

[11:07] Investing strategies and FOMO

[14:23] Deal makers and breakers

[14:36] The motivation of founders

[16:47] De-risking entrepreneurship and motivation

[18:56] The rise and fall of first-time funds

[20:18] Exaggerated opportunity sizes

[21:16] The realities of early-stage investing

[22:20] The distortion of valuations

[22:57] Winners bias and trillion-dollar companies

[23:13] The illusion of constant growth

[26:37] The Ally acquisition and Microsoft Viva Goals

[27:50] Was the acquisition a fund returner?

[28:32] The Clubhouse story

[29:23] The importance of knowing when to sell

[30:20] The trend of secondaries

[30:50] Incentivizing founders

[31:25] The future of secondaries

[32:50] The vision behind Foundations

[38:33] What else does Seattle need?

[39:05] The need for pre-accelerators

[40:38] Lack of pre-seed funds

[41:02] Accessing Bay Area capital

[42:41] What are you consuming?

[43:14] Podcasts, books, and movies

[44:31] What do you wish you knew about investing?

[44:39] The long feedback loops of investing

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