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Decoding Startup Investment: SAFE Notes, Convertible Notes & Priced Rounds

Episode Summary:Understanding how to invest in startups requires more than just writing a cheque. Cheryl and Maxine break down the legal structures behind startup investing, covering SAFE notes, convertible notes, and priced rounds. Whether you're a seasoned investor or just starting out, this episode unpacks the key terms, investor-friendly vs. founder-friendly clauses, and the risks involved. They discuss the evolution of SAFEs, why they've become the dominant structure in early-stage funding, and the critical differences between pre-money and post-money SAFEs. Plus, they explore the role of pro-rata rights, most favoured nation (MFN) clauses, and side letters—so you don’t get caught off guard in your next deal. If you’ve ever wondered how to protect your equity position, when to push back on certain terms, or what legal documents you’ll actually be signing, this episode is your investor cheat sheet. Key Takeaways:00:00 – Why startup investment structures matter 01:45 – SAFE notes, convertible notes, and priced rounds explained 03:47 – How founders raise money: equity vs. debt 06:21 – The documents you’ll sign in a priced round 10:22 – Do startups need a constitution? Red flags to watch for 14:29 – Side letters: What are they, and should you be worried? 19:08 – Pro-rata rights & why they matter for investors 22:23 – Most Favoured Nation (MFN) clauses explained 30:27 – Pre-money vs. post-money SAFEs: Which one is better? 38:03 – Why valuation caps and discounts can be a double-edged sword 43:53 – Investor-friendly vs. founder-friendly terms: What’s fair? Resources- A Deep Dive into ECIS, ESVCLP, and Investment Strategies - https://open.spotify.com/episode/1Agiu4dskF53m6DBZgXitD?si=KFeAlY_wTjSwOWfRMiiQFA - Angel Academy – The most comprehensive angel investing course for Australia & NZ: www.venture.academy - Aussie Angels – Cheryl’s platform for angel investing https://www.aussieangels.com/ - Co-Ventures – Maxine’s venture capital firm https://www.coventures.vc/ Sponsors:First Cheque is supported by our wonderful sponsors:Vanta: Join 7,000 global companies like Atlassian and Dovetail that use Vanta to build trust and prove security in real time. Get 10% off https://dayone.fm/vanta Rocking Horse: Rocking Horse helps startups access their R&D tax rebate early. Get up to $3M in non-dilutive finance, solve cash flow challenges, and accelerate growth. Easy application, fast approval. Smart investment for innovative startups. https://dayone.fm/rockinghorse Galah Cyber: Galah Cyber are perfect for founder-lead and SAAS businesses. Galah provides advice, education, and training. Get in touch with Galah Cyber for a complimentary call to make sure you’re secured. https://dayone.fm/galah The Day One NetworkFirst Cheque is part of Day One, the podcast network dedicated to founders, operators & investors.To learn more, join our newsletter to be notified of new and upcoming shows. The only content we create is content that will help Australian founders. If you want to learn about upcoming guests and when a new First Cheque episode is available, join the First Cheque newsletter. Mentioned in this episode: Aussie Angels - the preferred fund and syndicate admin platform for emerging managers in Australia Show Notes: If you’re an investor or keen to write your first angel check, please check out some of the syndicate tickets on www.aussieangels.com a...

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قبل ٤ أيام

The Ultimate AI Toolkit for Busy People ft. Gareth Rydon

Episode SummaryAI can transform how you work, and you don’t need to be an expert to take advantage of it. Gareth Rydon, co-founder of Friyay, breaks down some of the most powerful AI tools for productivity, from meeting transcription assistants to AI-powered shopping hacks. This episode dives into practical ways to integrate AI into everyday tasks, how to think about AI models like ChatGPT, Claude, and Gemini, and why you should stop stressing over perfect prompts. Plus, Gareth shares his insights on the evolving landscape of generative AI, the competition between LLMs, and which AI tools are actually worth your time. Time Stamps00:00 – Intro: The myth of the "perfect prompt" and why you don’t need to save lists of them 02:18 – What is Friyay, and how it helps businesses implement AI 03:22 – The AI tool that made Gareth’s LinkedIn post go viral 05:34 – AI in real life: Using ChatGPT for meal planning and school schedules 09:04 – AI Tool #1: Otter AI – The best AI-powered meeting assistant 13:19 – Why AI note-taking is better than manual transcription 17:35 – How accurate are AI transcription tools? 22:32 – The AI model race: OpenAI vs. DeepSeek vs. Google vs. XAI 26:02 – The celebrity personalities of AI models (ChatGPT as Matt Damon?) 32:20 – AI Tool #2: GPT-4o’s 03 Mini Mode – The ultimate online shopping assistant 37:43 – Pro tip: How to find discount codes with AI 41:55 – Why you should ask AI to prompt itself Resources MentionedFriyay – Generative AI studio helping businesses integrate AI (https://www.friyay.ai)Otter AI – AI-powered meeting transcription and note-taking (https://otter.ai)ChatGPT 03 Mini – OpenAI’s reasoning model, great for online shopping (https://openai.com)DeepSeek AI – Open-source LLM making waves in AI accessibilityOne Useful Thing – AI insights from Ethan Mollick The Day One NetworkIn The Blink of A.I. is part of Day One, the podcast network dedicated to founders, operators & investors.To learn more, join our newsletter to be notified of new and upcoming shows. The only content we create is content that will help Australian founders. If you want to learn about upcoming guests and when a new In The Blink of A.I. episode is available, join the Blink of A.I. newsletter.

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قبل ٤ أيام

Jamie Beaton (Crimson Education) on scaling a global education empire, the future of universities, and AI’s role in learning

Episode SummaryWhen Jamie Beaton co-founded Crimson Education, his goal was simple: help ambitious students get into the world’s best universities. Fast forward ten years, Crimson has 800+ staff, global offices, and a suite of education platforms spanning admissions coaching, an international online high school, and AI-powered study tools. Jamie’s personal journey is just as remarkable—Harvard undergrad, four master's degrees, a JD from Yale, a PhD from Oxford, a Rhodes Scholar. His expertise? Elite admissions, scaling global businesses, and the changing economics of education. In today’s episode, we cover: • Why the traditional university model is broken and which institutions will survive • How AI is making elite education accessible (and why most schools aren’t ready) • Why New Zealand’s smartest students need to get out—and when to return • The right way to build a world-class company, from hiring to leadership • How top universities actually admit students (hint: it’s not just grades) We also hear about Jamie’s biggest mentors, his leadership lessons, and the future of Crimson Education after its recent Series D. Time Stamps01:11 The wildest education history: Harvard, Yale, Oxford & beyond 03:40 Crimson’s 10-year journey from a bold pitch to a global business 06:48 How the real college admissions process works (and what most Kiwis get wrong) 09:52 Buying vs. building: How Jamie makes big bets on acquisitions 14:55 The myth of online education and why self-motivation changes everything 18:08 How Crimson finds the next generation of ambitious Kiwis 25:17 The AI revolution: Private tutoring for everyone—at 1% of the cost 35:53 Is there a reckoning coming for the long tail of higher education? 44:02 Why Kiwis need to get out—and when to do it 56:06 The biggest leadership lessons Jamie had to unlearn ResourcesJamie Beaton’s Linkedin: https://www.linkedin.com/in/jamiebeaton/ Crimson Education – Global admissions and education platform: https://www.crimsoneducation.org/ Crimson Global Academy – Online international high school: https://www.crimsonglobalacademy.school/ Revision Village – IB study resource platform: https://www.revisionvillage.com/ Need-Blind Financial Aid at Harvard – How top universities fund students: https://college.harvard.edu/financial-aid

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قبل ٥ أيام

Breaking into Cyber: Kiera Farrell on Growth, Networking & Early-Career Lessons

Episode SummaryKiera Farrell, Cyber Analyst at David Jones, shares her journey from studying a Bachelor of Cybersecurity to landing a role in cybersecurity operations. She reflects on the challenges of breaking into the industry, the lessons learned from risk management, and the importance of networking in career growth. Kiera and Cole discuss the value of stepping outside your comfort zone, the evolving landscape of cybersecurity degrees, and what hiring managers can do to attract and retain young talent. If you're an aspiring cybersecurity professional or a leader looking to support early-career hires, this episode is packed with insights. Timestamps2:00 – Kiera’s journey: From Bachelor of Cybersecurity to David Jones 5:00 – What studying cybersecurity is really like 8:10 – The surprising importance of risk management 12:00 – Ethical hacking & the role of security education 16:30 – The grad job hunt: what works, what doesn’t 19:45 – The power of stepping out of your comfort zone 21:30 – Building a strong professional network 23:50 – What makes an employer attractive for graduates? 26:40 – How mentorship accelerates career growth 30:35 – Advice for students and early-career professionals Mentioned in this episode: Call for Feedback This podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp Spotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/

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Brewing Palm Oil in a Lab: Tom Collier on the Future of Sustainable Ingredients with Levur

Episode Summary🌿Brewing a Sustainable Future with Lab-Grown Palm Oil – Mick Liubinskas sits down with Tom Collier, CEO and co-founder of Levur, to uncover how precision fermentation is transforming the palm oil industry. Palm oil is found in 50% of supermarket products and 70% of cosmetics, yet its production is a major driver of deforestation, biodiversity loss, and carbon emissions. Levur is tackling this crisis by using synthetic biology to brew palm oil in a lab, eliminating the need for rainforest destruction. Tom shares his journey from molecular biology to entrepreneurship, the challenges of scaling biotech solutions, and why global regulations and corporate demand are accelerating the shift to sustainable alternatives. From waste-to-feedstock innovation to mass fermentation at industrial scale, this episode explores how lab-grown palm oil could reshape the future of food, cosmetics, and climate tech. 💡 Tune in to learn why regulation, consumer pressure, and cost-efficiency are aligning to drive massive change—and why sustainable solutions must not only be greener but cheaper and better to win the market! ⏱️ Time Stamps00:00 – Introduction: Live from Macquarie University’s Synthetic Biology Lab 00:24 – Meet Tom Collier and Levur’s mission to brew palm oil 01:07 – The devastating impact of palm oil production 02:05 – Why global demand for palm oil is set to quadruple by 2050 03:12 – How microbes and precision fermentation create sustainable palm oil 06:11 – Why palm oil is used in everything from chocolate to shampoo 08:43 – Scaling up: From lab samples to industrial fermentation 12:03 – Overcoming biotech manufacturing bottlenecks 16:01 – The challenge of making sustainable products cost-competitive 18:44 – How waste feedstocks can power a circular economy 19:38 – Why Europe’s palm oil regulations are a game-changer for Levur 22:08 – The $70M ton problem: Can lab-grown palm oil scale fast enough? 24:14 – 2025 goals: Delivering first samples and proving market fit 26:29 – The path to mass adoption and commercial success Resources Mentioned🔗Levur – Brewing sustainable palm oil with precision fermentation 🤝Levur’s Linkedin🙋🏻‍♂️Tom’s Linkedin🌱 EU Deforestation Regulation (EUDR) – Banning unsustainable palm oil imports 📊 Australian Genome Foundry – Supporting synthetic biology startups 🔬 Macquarie University’s Synthetic Biology Lab – Cutting-edge research in bioengineering 📖 Net Positive by Paul Polman – How businesses can lead sustainability transformations 🌍 Ready to discover more innovative climate tech solutions? Here's what you can do: ▶️ SUBSCRIBE to never miss an episode featuring amazing founders solving climate challenges! → / @climatesalad. . 🎧 Follow The Mix on your favorite podcast platform to listen on the go → https://the-mix-fm.captivate.fm/listen📧 Visit dayone.fm/shows/the-mix/newsletter and sign up for our newsletter to have these stories delivered straight to your inbox 🔄 Share this...

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Building AI Support So Good, You’ll Wonder: "Is This Even AI?" (Ft. Steve Hind, CEO Lorikeet)

Episode SummaryIn this episode of "In the Blink of AI," host Georgie Healy interviews Steve Hind, co-founder of Lorikeet, a leading AI customer support platform tailored for complex industries like FinTech and health tech. Steve discusses the evolving landscape of AI, addressing common misconceptions about its capabilities and the importance of prioritising customer experience. He emphasises that delivering effective support, whether through humans or AI, hinges on the intent and goals of the business. Steve elaborates on the uniqueness of Lorikeet's platform, which enables companies to train AI agents to handle intricate support queries, and highlights the significance of understanding the diverse needs of customers across various sectors. The conversation also touches upon the recent $14 million funding round for Lorikeet and the impact of AI technologies like Retrieval-Augmented Generation (RAG) in enhancing customer support. Throughout the discussion, Steve shares insights on the importance of empathy in AI interactions, the role of customisation in chatbot personalities, and the necessity for businesses to adapt to the fast-paced AI advancements. He concludes with a reminder to approach AI with a mindset focused on improving customer experiences, urging listeners to be kind to AI as it continues to evolve. Time Stamps00:00 – Why AI customer support gets a bad reputation 01:52 – What makes Lorikeet different from other AI support tools 02:49 – Why banks and healthcare companies need AI-driven customer support 09:00 – What is RAG, and why does it matter for AI-powered customer service? 14:09 – The biggest mistake AI chatbots make in customer support 16:26 – What does "agentic reasoning" really mean? 19:12 – The cost of running AI models and why RAG reduces compute power 27:46 – AI tools Steve uses every day (and his take on Perplexity and Replit) 30:36 – How to stand out when applying for an AI job 39:18 – What people get wrong about AGI and AI scaling laws Resources MentionedLorikeet – AI-powered customer support for FinTechs and health techs (https://www.lorikeetcx.ai/) Blackbird Ventures, Square Peg, Skip Capital – Major investors in Lorikeet Replit & Cursor – AI-powered developer tools for software engineering Perplexity AI – AI search and research assistant Superhuman AI – AI-powered email client with automated responses The Day One NetworkIn The Blink of A.I. is part of Day One, the podcast network dedicated to founders, operators & investors.To learn more, join our newsletter to be notified of new and upcoming shows. The only content we create is content that will help Australian founders. If you want to learn about upcoming guests and when a new In The Blink of A.I. episode is available, join the Blink of A.I. newsletter. Sponsors:In The Blink of A.I. is supported by our wonderful sponsors:Rocking Horse: Rocking Horse helps startups access their R&D tax rebate early. Get up to $3M in non-dilutive finance, solve cash flow challenges, and accelerate growth. Easy application, fast approval. Smart investment for innovative startups. https://dayone.fm/rockinghorse Mentioned in this episode: Rocking Horse - November 2024

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Mastering Fund Cycles: How VCs Raise, Invest & Exit

Episode Summary:In this episode of First Cheque, hosts Cheryl and Maxine dive deep into the complexities of fund cycles, providing invaluable insights for emerging fund managers and entrepreneurs alike. They discuss the key aspects of raising and deploying funds, including the significance of understanding the timing and structure of fund cycles. Cheryl emphasises the importance of recognising that announcements of fundraising often indicate the beginning of the fundraising process rather than immediate capital deployment. Maxine elaborates on the differences in fund management strategies, particularly in Australia, where choices about fund structures, like ESVCLP (Early Stage Venture Capital Limited Partnership), can influence tax benefits and administrative requirements. The hosts also touch on the challenges faced by fund managers, such as the necessity to maintain liquidity and the common practice of deploying smaller checks to riskier companies at the start of a fund’s lifecycle, while gradually shifting to larger, safer investments as the fund matures. Throughout the conversation, they highlight the importance of planning for exits, the dynamics of raising subsequent funds, and the need for flexibility, especially within micro funds. They conclude by encouraging fund managers to be diligent in their planning to ensure success and sustainability in their investment journeys. This episode serves as a comprehensive guide for anyone looking to navigate the intricate world of venture capital and fund management. Time Stamps:00:00 – Introduction: Why fund cycles matter for investors & founders 01:21 – Who this episode is for: Emerging fund managers & startup founders 03:23 – Understanding fund cycles: Raising, deploying, and exiting 05:48 – The reality of raising a fund: Why it takes 12-24 months to close 09:35 – Deployment periods: How VCs decide when and where to invest 12:34 – The risk of running out of money—how fund managers avoid this mistake 16:57 – Fund sizes & check sizes: Why $50M is a magic number in VC 21:09 – Micro VCs vs. bigger funds: How different strategies impact returns 25:14 – Opportunity funds: When fund managers double down on winners 30:08 – The importance of liquidity planning and secondaries in VC 37:17 – Exits: How and when fund managers start planning for returns 43:59 – Final thoughts: The key takeaways from this episode Resources Mentioned- Angel Academy – The most comprehensive angel investing course for Australia & NZ: www.venture.academy - Aussie Angels – Cheryl’s platform for angel investing https://www.aussieangels.com/ - Co-Ventures – Maxine’s venture capital firm https://www.coventures.vc/ - ESVCLP (Early Stage Venture Capital Limited Partnership) – How tax benefits impact Australian VC funds - AFR & Startup Daily – Understanding VC funding announcements in the media - Adverb Ventures (April Underwood) – Case study on fast fund cycles - Australian Super Funds & VC – Why institutional capital is hard to secure - Venture Fund Deployment Data (US vs. Australia) – Insights on how quickly funds deploy capital - Fund Liquidity & Secondaries – How fund managers plan exits when IPOs & M&A slow down Sponsors:First Cheque is supported by our wonderful sponsors:Vanta: Join 7,000 global companies like Atlassian and Dovetail that use Vanta to build trust and prove security in real time. Get 10% off https://dayone.fm/vanta Rocking Horse: Rocking Horse helps startups access their R&D tax rebate early. Get up to $3M in non-dilutive finance,...

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Revolutionising Pet Healthcare with AI ft. Jing Wei from Fetch

Episode SummaryIn this episode of In The Blink of AI, Georgie Healy chats with Jing Wei, Lead AI Engineer at Fetch, an InsurTech startup backed by Airtree. Fetch is leveraging AI to streamline pet insurance claims, making vet care more accessible and efficient. Jing shares insights into AI’s role in pet healthcare, tackling handwritten vet notes, PDFs, and complex medical data to speed up claims processing. She also discusses the rise of robotic pets, including China's viral AI guinea pig Boo Boo, and the implications of AI-driven pet monitoring. The conversation explores how AI is improving veterinary diagnostics, the challenges of building AI models, and the unexpected costs of running AI startups. If you’re curious about AI in pet healthcare, robotic pets, or the technical realities of AI adoption, this episode is for you! Time Stamps00:00 – How AI is transforming pet healthcare 01:11 – What is Fetch and how does AI improve pet insurance? 06:00 – The rise of AI-powered robotic pets like Boo Boo 13:29 – AI-powered pet monitoring: Useful or dystopian? 16:11 – Can AI detect pet emotions and health issues? 30:23 – The biggest challenge in AI: Handling unstructured vet records 34:57 – Why PDFs are AI’s worst nightmare in pet insurance 38:42 – The real cost of AI: Jing’s accidental $1,000 cloud bill 39:35 – Fetch’s expansion plans: Taking AI-powered pet insurance global 46:04 – Why pet owners should brush their pet’s teeth to avoid massive vet bills Resources Mentioned- Fetch: InsurTech startup focused on pet insurance, utilising AI to streamline claims. - Google AI Accelerator: Program where Jing Wei refined her AI implementation skills. - Archive: Platform for non-peer-reviewed research papers, commonly used to find the latest AI research. - Hangzhou Genmo Technology: Company that produced the AI guinea pig called Boo Boo. - Tably: An app that reads cat facial cues to assess their emotions and health. - OCR (Optical Character Recognition): Technology used for text extraction from images and documents. The Day One NetworkIn The Blink of A.I. is part of Day One, the podcast network dedicated to founders, operators & investors.To learn more, join our newsletter to be notified of new and upcoming shows. The only content we create is content that will help Australian founders. If you want to learn about upcoming guests and when a new In The Blink of A.I. episode is available, join the Blink of A.I. newsletter. Sponsors:In The Blink of A.I. is supported by our wonderful sponsors:Rocking Horse: Rocking Horse helps startups access their R&D tax rebate early. Get up to $3M in non-dilutive finance, solve cash flow challenges, and accelerate growth. Easy application, fast approval. Smart investment for innovative startups. https://dayone.fm/rockinghorse Mentioned in this episode: Rocking Horse - November 2024

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