224 episodes

Hello, I’m Howard. I’ve been a financial industry entrepreneur and investor for over 20 years. I am a General Partner at Social Leverage - we invest in seed stage software companies. I was a co-founder of Stocktwits and a seed investor in Robinhood and Etoro. On this podcast, you will hear interviews with great entrepreneurs, investors, venture capitalists, traders, and friends about their companies, their track records, and their new fave ideas and trends. This includes best ideas, worst investments, biggest failure, daily habits, and recommended reading. I know your time is precious, so I promise to keep it simple and on point.

Panic with Friends - Howard Lindzon Panic with Friends

    • Business
    • 4.5 • 98 Ratings

Hello, I’m Howard. I’ve been a financial industry entrepreneur and investor for over 20 years. I am a General Partner at Social Leverage - we invest in seed stage software companies. I was a co-founder of Stocktwits and a seed investor in Robinhood and Etoro. On this podcast, you will hear interviews with great entrepreneurs, investors, venture capitalists, traders, and friends about their companies, their track records, and their new fave ideas and trends. This includes best ideas, worst investments, biggest failure, daily habits, and recommended reading. I know your time is precious, so I promise to keep it simple and on point.

    Erik Groset of BetFully on Building a Legal Sports Betting Rewards App & Evading the Inflation Apocalypse

    Erik Groset of BetFully on Building a Legal Sports Betting Rewards App & Evading the Inflation Apocalypse

    Today’s guest, Erik Groset - Co-founder of Fantasy Sports Company and CEO of BetFully, is a friend of mine from San Diego. He’s a cool founder – a grinder, and he’s in our fund too – Social Leverage Fund II. I met Erik while still living in Coronado, back in the dog days of legal battles with DraftKings when everybody was trying to get gambling approved. Erick stayed alive building a cash flow business around the edges with BetFully, which is why I wanted to talk with him about what it’s like being a successful founder. 
    In addition, I wanted him to give us the lay of the land on this inflation apocalypse he’s worried about as the summer of 2022 rages on. Founders everywhere are worried about layoffs, and there’s a lot of young money in the market over the last 10 years – Erik has been through a few cycles, so we catch up to share some wisdom for other founders out there. I really think you’ll enjoy this episode, so have a listen. One fun fact, Erik has also written a children’s book – Bruce the Lumberjack: Fun Interactive Bedtime Book for Toddlers 
    Guest - Erik Groset, CEO at BetFully, Inc 
    howardlindzon.com, BetFully.com 
    Twitter: @howardlindzon, @PanicwFriends, @ErikGroset, @BetFullInc, @knutjensen 
    linkedin.com/in/erikgroset
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes: 

    Introduction (00:40)

    Welcome Erik (05:01)

    Bull markets and 30 foot puts (06:03)

    BetFully basics (07:03)

    Help with gambling problems (08:52)

    Surprises about the betting industry (10:17)

    Barriers to entry (10:45)

    ‘Race to the Bottom’ Thesis (11:25)

    Dabbling in NFTs (12:20)

    Size of Sports betting market (14:58)

    Customer loyalty (16:03)

    UI is key (17:45)

    San Diego Startup scene (18:48)

    Riding out the storm (19:36)

    Guerrilla marketing (22:09)

    Sports betting advertising (23:01)

    Betting on Formula 1 (24:18)

    Cheat code for product/market fit (25:33)

    A quick celebrity story (27:48)

    Closing thoughts (33:01)

    Wrapping up (33:41)  

    • 35 min
    Will Ahmed of WHOOP is On a Mission to Unlock Human Performance and Save Lives

    Will Ahmed of WHOOP is On a Mission to Unlock Human Performance and Save Lives

    Today’s guest is Will Ahmed, founder and CEO of WHOOP, a wearable technology/fitness company that fits smack in the middle of what I like to call ‘fashology’ – technology meets fashion. The device tracks and measures strain, recovery, and sleep. The brand is well received by pro athletes like LeBron James, Michael Phelps and over half of the PGA Tour; but can it help Howard? Those who have followed me for a while know I’m fascinated with sleep fitness and I have a WHOOP, but there are difficult customers, and then there’s me. We discuss what it would take to have Howie back on the WHOOP wagon. 
    Will started the company in Boston right after graduating from Harvard – his first company, and his first full time job. Ten years later the brand continues to unlock human performance and save lives. Some of the smartest people I look up to on things like fitness, brains, and style are super bullish on WHOOP; to include Arizona Cardinal Kelvin Beachum, Jr., Brad Feld, and Ryan Spoon. 
    Guest - Will Ahmed, Founder and CEO at Whoop 
    howardlindzon.com, whoop.com 
    Here’s the WHOOP Podcast 
    Twitter: @howardlindzon, @PanicwFriends, @whoop, @willahmed, @knutjensen 
    linkedin.com/in/willahmed
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes:

    Introduction (00:42)

    Welcome Will (05:48)

    Starting WHOOP in Boston (06:32)

    Star athlete investors (07:05)

    Celebrity users (07:39)

    Physiology research at Harvard (08:45)

    Raising capital (09:23)

    10 years 600 employees later (09:41)

    Big name venture investors (10:01)

    Bet the business transition (11:16)

    Differentiating WHOOP (12:53)

    Behavior change and improving health (13:43)

    Early star athlete adopters (14:30)

    Making health monitoring cool (15:40)

    Bringing Howard back into the fold (16:59)

    Becoming a source of accountability (18:30)

    A/B testing yourself (19:31)

    The next frontier for WHOOP (19:43)

    Apple Watch - the elephant in the room (20:54)

    Sensors in your boxers (23:13)

    Whoop on the PGA tour (25:27)

    What’s the magic with WHOOP? (27:38)

    Wearable's - A uniquely difficult space (29:02)

    Being mentored as a founder (31:31)

    Improving live, saving lives (33:56)

    Two types of customers (35:03)

    Smart people bullish on WHOOP (36:18)

    The WHOOP Podcast (37:06)

    Free Climber Alex Honnold (39:18)

    Alex’s REM sleep advantage (41:06)

    Closing thoughts (45:54)

    Wrapping up (48:02) 


    Related:
    Free Solo climber Alex Honnold on eliminating fear and accomplishing greatness
    Kelvin Beachum Jr, Offensive Lineman for the Arizona Cardinals & 2022 Walter Payton Man of the Year Nominee, on Investing, Leveraging your Network, and Parenting with Intention
    Ryan Spoon, COO of Sorare on the Intersection of Fantasy Sports, Blockchain, and Community

    • 49 min
    Rob Petrozzo of Rally on a Panic with Friends Dual Podcast Special

    Rob Petrozzo of Rally on a Panic with Friends Dual Podcast Special

    I’m stoked to have my good friend Rob Petrozzo, Co-Founder and Chief Product Officer at Rally on this special episode of Panic with Friends. It’s the first Panic with Friends dual podcast, so it won’t be a format you’re used to. A lot more of me as Rob dual tracks this episode for Rally’s new podcast, The Best Money I Ever Spent. Rob’s spent the last several years building Rally into an amazing platform that makes fractional investing safe, easy, and accessible. 
    Guest - Rob Petrozzo, Co-Founder and CPO at Rally, Host of The Best Money I Ever Spent Podcast 
    howardlindzon.com, rallyrd.com 
    Twitter: @howardlindzon, @robpetrozzo, @OnRallyRd, «BestMoneyPod, @knutjensen, @PanicwFriends 
    Podcast: The Best Money I Ever Spent
    Spotify: https://open.spotify.com/show/3vwvQoGUbP7FKAbuvkYemA
    linkedin.com/in/robpetrozzo
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes:

    Introduction (00:42)

    Welcome Rob (03:08)

    Thinking changed from 5 years ago (04:08)

    Living through market cycles (05:13)

    Domain experience counts (06:20)

    Cutting Signal from Noise (07:46)

    Survival matters (10:05)

    Starting Rally (11:40)

    The ICO craze (12:52)

    Fractional Warhol (15:46)

    Culture and the future (16:35)

    What we spend our money on (18:54)

    A different type of bear market (21:26)

    Gary Vaynerchuk’s ear (22:26)

    The ‘right’ community (23:06)

    ‘Mobile First’ generation (29:40)

    Nailing the UI (30:17)

    Rethinking the desktop (31:42)

    Hitting peak ‘Mobile’ (36:15)

    Betting on guys who survived before (37:40)

    DAOs - small is the new big (40:50)

    Passionate about comedy (41:48)

    NFT meets DAO meets Community (42:41)

    Howard’s favorite investor (48:49)

    The future of venture (49:09)

    Next breed of crossover investors (49:54)

    The one that got away (52:28)

    Thoughts on bootstrapping (54:10)

    Closing thoughts (55:57)

    Wrapping up (59:38) 


    Previous Panic:
    Rob Petrozzo of Rally: Classic Cars, Dinosaur Bones, and Crypto Punks (EP.171) October 14, 2021

    • 1 hr 1 min
    Back to the Future with Om Malik of True Ventures

    Back to the Future with Om Malik of True Ventures

    I’m excited to bring my good friend Om Malik back for a third round of Panic. Om is a partner at True Ventures, a $2B venture capital firm in San Francisco. They have made over 300 investments including WordPress, Peloton, Fitbit, and Blue Bottle Coffee.
    He’s a super smart guy to talk to. He worries about the future, invests in the future, and talks about the future. It’s important to talk about the future especially when the current situation is bleak – with a tech crash and valuations coming down. I don’t think there’s a panic, we’re just witnessing the end of an era. We could whine about it, or we could look past it and figure out where technology is going next; which is what I’m doing. I don’t think what’s worked for me over the last 12 years will work going forward. Om is here to help me sort it out. 
    Guest - Om Malik, Partner Emeritus at True Ventures 
    howardlindzon.com, trueventures.com, om.co
    Twitter: @howardlindzon, @PanicwFriends, @trueventures, @om, @knutjensen 
    linkedin.com/in/ommalik
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes:

    Introduction (00:42)

    Welcome Om (02:52)

    The world aligning to new technologies (04:01)

    Valuation and tech decoupled (04:51)

    The core thesis hasn’t changed (6:06)

    Today tech is bigger, bolder, more impactful (07:26)

    5 trillion dollar companies created in the last 12 years (07:37)

    The unknowns make the future of tech exciting (08:43)

    Moving towards a 3D interface with data (09:38)

    Apple M1 chip changes everything (10:02)

    Identity and Authentication are key (14:14)

    Understanding the future of tech (16:07)

    Fixating on ‘labels’ instead of the tech (17:55)

    The digital wallet is the future (18:33)

    The ‘MetaMask’ of the future may come from Apple (19:28)

    The future doesn’t have to be Instagram and Twitter (20:31)

    Trust and Big Tech (21:54)

    Apple is one Tim Cook away from things falling apart (22:01)

    The disappearance of the App store (22:44)

    The wallet is tightly connected to your Smartphone (23:16)

    Policy always lags tech (24:15)

    The ‘Wild West’ analogy for Web3 (25:57)

    Software is important, authentication will be key (26:32)

    Distinguishing between the artificial and real ‘us’ (27:52)

    Metaverse is a euphemism for next gen tech (29:12)

    How will China define the future (30:11)

    Globalization versus Deglobalization (30:44)

    End of one-size-fits-all tech (31:32)

    The current reality of centralization (32:44)

    Twitter is social media marketing (33:17)

    Small subsets of decentralized social networks (33:49)

    Opportunity comes after a crisis (36:47)

    Silicon Valley is a state of mind (37:24)

    Closing thoughts (39:08)

    Wrapping up (41:55) 

    • 43 min
    Lewis Johnson of Capital Wealth Advisors on the Current Deglobalization Cycle and the Importance of Valuation and Risk Management

    Lewis Johnson of Capital Wealth Advisors on the Current Deglobalization Cycle and the Importance of Valuation and Risk Management

    I’m excited to have my fishing buddy, Lewis Johnson, back for another round of Panic. He runs a couple billion dollars as the CIO of Capital Wealth Advisors. Lewis was first on in November of 2020 when we realized we might not die from COVID and the Fed was printing money and we were in market Nirvana. Back then we talked value and growth and commodities because Lewis understands cycles. He’d seen the worst stretch of value stocks versus growth stocks in the last 200 years. In this episode we talk cycles and supply chains and commodities and a strong dollar and valuation and the deglobalization cycle we find ourselves in now. What Lewis has is expertise, which is why I enjoy talking to investors like him at different points in time to expand my knowledge. 
    Guest - Lewis Johnson, CIO at Capital Wealth Advisors 
    howardlindzon.com, capitalwealthadvisors.com 
    blog.capitalwealthadvisors.com/trends-tail-risks
    Twitter: @howardlindzon, @PanicwFriends, @TrendsTailRisks, @knutjensen 
    linkedin.com/in/lewismjohnson 
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes:

    Introduction (00:40)

    2020 Take - Value & Growth (04:17)

    Welcome Lewis (07:00)

    Cycles have a logic of their own (08:19)

    Commodities & Value back in favor (10:04)

    A Deglobalization Cycle underway (12:11)

    A chain of Deglobalization events (13:22)

    Positioning and asset allocation (16:47)

    The nature of the cycle (17:50)

    Taking a defensive stance (18:07)

    Real Estate bubble in China (18:29)

    De-risking early (20:12)

    Short squeeze in Commodities (20:44)

    The Fed can’t print corn (21:23)

    European energy supply crisis (21:46)

    Avoiding last cycles winners (22:41)

    Defensive/Offensive investing (25:16)

    Tech under a deglobalization mindset (26:13)

    Valuation is the first lens (26:48)

    Reconstructing the supply chain (27:25)

    Defense spending and stocks (27:50)

    Emerging markets in crisis (31:27)

    Living in Florida (33:33)

    Market volatility (35:47)

    Risk management first (36:19)

    Fundamentals, supply, demand, valuation matters (37:20)

    Avoiding black swans (37:43)

    60% of the world’s debt is in dollars (39:02)

    Wrapping up (41:11)

    Closing thoughts (41:54) 



    Related Episode:
    Co-Founder and President of Fundamental Global Lewis Johnson Joins Me on Panic with Friends to Discuss the Business of Investing – from Asset Management to the Nature of Cycles (EP.120)

    • 44 min
    Serge Kassardjian of StayTuned and 6th Man Ventures on the Future of E-commerce and Crypto

    Serge Kassardjian of StayTuned and 6th Man Ventures on the Future of E-commerce and Crypto

    Today’s guest, Serge Kassardjian, is the co-founder and CEO of StayTuned Digital, and a partner at 6th Man Ventures. He got his MBA from Harvard and Bachelors and Masters in Engineering from Stanford, where he was the President of his class. Serge is a fighter, an entrepreneur with irons in the fire of two incredibly volatile sectors – e-commerce and crypto, so he’s the perfect guest to come on Panic with Friends. As the pundits at CNBCq say ‘the markets are in turmoil’; and it’s not just crypto, but our beloved e-commerce stocks, including Amazon $AMZN and Shopify $SHOP, that are taking a beating. We discuss StayTuned Digital, which is a Shopify roll-up, but not in the classic sense of rolling up e-commerce stores – they’re rolling up software companies on the app side. We get into Serge’s love of STEPN – the crypto/web3 lifestyle app, and what the future crypto/web3 ecosystem might look like for us ‘normies’. (Full disclosure: StayTuned is a Social Leverage (Fund III) portfolio company.) 
    Guest - Serge Kassardjian, Co-founder and CEO at StayTuned and Partner At 6th Man Ventures 
    howardlindzon.com, staytuned.digital, 6thman.ventures, sergekassardjian.com  
    Twitter: @howardlindzon, @PanicwFriends, @sergekass, @staytuned_dig, @knutjensen 
    linkedin.com/in/sergekass 
    #fintech #invest #investment #venturecapital #stockmarket #finance 
    Show Notes:

    Introduction (00:043)

    Welcome Serge (03:21)

    Selling dumbbells (04:05)

    Coming to America (05:11)

    Starting in e-commerce (07:17)

    Macro trends in e-commerce (09:22)

    Growth is in headless solutions (10:50)

    Non-linear paths in startups (13:14)

    Serge’s time at Google (13:38)

    Shopify app roll-ups (14:03)

    Building the StayTuned team (14:43)

    Getting into crypto (16:02)

    Early whale on NBA TopShot (17:28)

    International e-commerce (18:06)

    Venture debt model (19:05)

    StayTuned apps (20:26)

    Shopify competition (22:25)

    Catching the crypto bug (24:35)

    Talent moves to crypto (26:02)

    Crypto adoption demographics (27:40)

    STEPN sneaker NFTs (29:54)

    Wrapping up (37:23)

    Closing thoughts (38:59)

    • 40 min

Customer Reviews

4.5 out of 5
98 Ratings

98 Ratings

Jay111180 ,

Howard tells it how it is

Great listen for founders, investors and those interested in public and private markets.

@MichaelUnbroken ,

Fantastic Podcast🔥🔥

I just wanted to take a moment and say thank you for creating such an impactful podcast! I believe that we all have a voice that deserves to be heard. Thank you for putting this into the world! BE UNBROKEN! @MichaelUnbroken

JeezyLakobe ,

Best Podcast

Humor and range, Howard’s got it all!

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