443. The Path from Aspiring VC to Partner at Bessemer, Building Non-Consensus Conviction, The Most Compelling Vertical Applications of AI, and Why Fintech is the New Frontier in Supply Chain (Mike Droesch)

This podcast episode features David Rabi, CEO of Tovala, who discusses the company's growth in the meal kit industry by prioritizing customer needs, and Mike Droesch from Bessemer Venture Partners, who shares insights on venture capital trends, particularly in AI and its applications across various industries. The dialogue highlights investment strategies, the impact of AI on industries like healthcare and supply chain, and the evolving narratives around voice technology and automation. Ultimately, the conversation underscores the importance of innovation, strategic thinking, and proactive engagement in navigating the future landscape of business and technology.

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

Introducing David Rabi, CEO of Tovala: A Meal Kit Success Story

Mike Droesch's Journey to Venture Capital: From Cleantech to Bessemer

Mike Droesch's Investment Thesis: Vertical AI Applications, Cybersecurity, and Supply Chain Software

Breaking into Venture Capital: Self-Directedness and Finding Your Niche

AI Applications on the Rise: The Cambrian Explosion and Multimodal Models

The Next Wave of Conversational Voice Apps: Speech Native Models and the Future of Voice Automation

AI in Healthcare: The Case of a Bridge and the Power of Fine-Tuning Models

The Rise of Vertical AI: Disrupting Legacy Vertical SaaS and Unlocking New Business Models

Navigating the Intersection of Professional Services and Automation: Overcoming Resistance and Embracing Outcome-Based Pricing

Three Emerging Business Models for AI Native Vertical Software: Co-Pilots, AI Agents, and Tech-Enabled Services

Moats and Defensibility in Vertical AI: Engineering Expertise, Vertical-Specific Workflows, and Team Execution

Open Source vs. Closed Source AI Models: A Balancing Act and the Rise of Small Language Models

Fintech is the New Frontier of Supply Chain: Addressing the Challenges of Efficient Payment and Invoice Reconciliation

Investing in Procurement and Invoice Reconciliation: Goodship, Loop, and Raft AI

Finding Non-Consensus Bets: Timing, Industry Receptiveness, and the Importance of Understanding End Users

Interview Recommendations: Jeremy Levine and Mike Knoop

Book Recommendation: "Mr. China" by Jim Mann

Mike Droesch's Force Multiplier: Prioritizing Deep Work and Limiting Social Media Engagement

443. The Path from Aspiring VC to Partner at Bessemer, Building Non-Consensus Conviction, The Most Compelling Vertical Applications of AI, and Why Fintech is the New Frontier in Supply Chain (Mike Droesch)

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

00:05Introducing David Rabi, CEO of Tovala: A Meal Kit Success Story

Introducing David Rabi, CEO of Tovala: A Meal Kit Success Story

01:36Mike Droesch's Journey to Venture Capital: From Cleantech to Bessemer

Mike Droesch's Journey to Venture Capital: From Cleantech to Bessemer

04:18Mike Droesch's Investment Thesis: Vertical AI Applications, Cybersecurity, and Supply Chain Software

Mike Droesch's Investment Thesis: Vertical AI Applications, Cybersecurity, and Supply Chain Software

08:18Breaking into Venture Capital: Self-Directedness and Finding Your Niche

Breaking into Venture Capital: Self-Directedness and Finding Your Niche

12:16AI Applications on the Rise: The Cambrian Explosion and Multimodal Models

AI Applications on the Rise: The Cambrian Explosion and Multimodal Models

15:23The Next Wave of Conversational Voice Apps: Speech Native Models and the Future of Voice Automation

The Next Wave of Conversational Voice Apps: Speech Native Models and the Future of Voice Automation

18:20AI in Healthcare: The Case of a Bridge and the Power of Fine-Tuning Models

AI in Healthcare: The Case of a Bridge and the Power of Fine-Tuning Models

21:35The Rise of Vertical AI: Disrupting Legacy Vertical SaaS and Unlocking New Business Models

The Rise of Vertical AI: Disrupting Legacy Vertical SaaS and Unlocking New Business Models

25:33Navigating the Intersection of Professional Services and Automation: Overcoming Resistance and Embracing Outcome-Based Pricing

Navigating the Intersection of Professional Services and Automation: Overcoming Resistance and Embracing Outcome-Based Pricing

27:50Three Emerging Business Models for AI Native Vertical Software: Co-Pilots, AI Agents, and Tech-Enabled Services

Three Emerging Business Models for AI Native Vertical Software: Co-Pilots, AI Agents, and Tech-Enabled Services

34:23Moats and Defensibility in Vertical AI: Engineering Expertise, Vertical-Specific Workflows, and Team Execution

Moats and Defensibility in Vertical AI: Engineering Expertise, Vertical-Specific Workflows, and Team Execution

38:43Open Source vs. Closed Source AI Models: A Balancing Act and the Rise of Small Language Models

Open Source vs. Closed Source AI Models: A Balancing Act and the Rise of Small Language Models

42:16Fintech is the New Frontier of Supply Chain: Addressing the Challenges of Efficient Payment and Invoice Reconciliation

Fintech is the New Frontier of Supply Chain: Addressing the Challenges of Efficient Payment and Invoice Reconciliation

45:47Investing in Procurement and Invoice Reconciliation: Goodship, Loop, and Raft AI

Investing in Procurement and Invoice Reconciliation: Goodship, Loop, and Raft AI

47:40Finding Non-Consensus Bets: Timing, Industry Receptiveness, and the Importance of Understanding End Users

Finding Non-Consensus Bets: Timing, Industry Receptiveness, and the Importance of Understanding End Users

50:29Interview Recommendations: Jeremy Levine and Mike Knoop

Interview Recommendations: Jeremy Levine and Mike Knoop

51:55Book Recommendation: "Mr. China" by Jim Mann

Book Recommendation: "Mr. China" by Jim Mann

53:00Mike Droesch's Force Multiplier: Prioritizing Deep Work and Limiting Social Media Engagement

Mike Droesch's Force Multiplier: Prioritizing Deep Work and Limiting Social Media Engagement