JP Morgan's head of startup banking says 'Founder Mode' won't get you a unicorn

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 18 September 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today on Equity, Kirsten Korosec is joined by J.P. Morgan’s Head of Startup Banking, Ashraf Hebela. Prior to joining J.P. Morgan, Hebela spent 13 years at Silicon Valley Bank, a bulk of those years dedicated to serving as SVB's head of banking. With over a decade in the startup world, he’s got some serious insights to share. Following the recent release of J.P. Morgan’s Startup Insights report, Kirsten wanted to dive into what it really takes to build a unicorn in 2024, and what parts of the startup ecosystem are seeing success beyond AI and Silicon Valley. The pair discussed the changing landscape, from new startup hubs popping up in Seattle, Austin, and Miami to the resilience and passion required to thrive. Hebela also talks about the decreasing rate of unicorn creation since 2021 and what founders need to keep in mind today - including how ‘Founder Mode’ may do more harm than good. Hit play and join the conversation!

Transcript

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0:00.0	Hello and welcome back to Equity.
0:03.0	Tech Runch's flagship podcast about the
0:16.0	business of startups. I'm Kirsten Kaurasek and this is our Wednesday
0:19.6	episode where we home in on a trend in the startup world and dive deep.
0:24.0	Today we are talking to J.P. Morgan's head of startup banking,
0:27.0	Ashraf Habella.
0:29.0	Ashraf, welcome to the show.
0:30.0	Thanks for having me, Kirsten.
0:32.0	Appreciate being here.
0:32.8	Yeah, I have to say I'm super excited because I feel like we have the ultimate startup and
0:37.2	banking expert on equity today because prior to J.B. Morgan, you were at Silicon Valley Bank for 13 years, including as head of startup banking.
0:46.4	And I'm just thinking of all the stories you could tell.
0:49.6	I'm guessing that you've probably seen it all and during some pretty tumultuous periods for the startup community.
0:57.0	It's been a wonderful journey, frankly, a fascinating one, frankly.
1:01.0	I started my career as an entrepreneur so I spent over a decade and software
1:05.9	myself trying my hands and startups as well as later stage companies mostly on the enterprise
1:11.0	software side and so yeah I've been around this journey for a couple of decades now,
1:15.5	and it's been fascinating at every stage and every cycle is in many ways unique,
1:19.6	but also has common themes.
1:21.3	Well, I want to get to those common themes,
1:23.3	but I didn't realize, so were you a founder yourself,
1:26.0	or were you part of a co-founding team?
	...

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