Peloton's new CEO + Cake Ventures' Monique Woodard Angel S6 E5 | E1383

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 11 February 2022

⏱️ 87 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the opening news segment, Molly and Jason break down the news around Peloton's new CEO, Barry McCarthy, including the open letter he sent to the company, his background and principles for success (2:05).

Then, Monique Woodard of Cake Ventures joins for Episode 5 of Season 6 of Angel (32:50). Monique was a founder, startup community leader, VC scout, and VC partner before raising her first fund.

In this episode you will learn:

Her thesis on investing in demographic change
What fundraising is like as a founder vs. fundraising as an aspiring fund manager
Why she chose to have multiple closes for her fund
Why Monique focused her efforts on institutional LPs, even though they take longer to close than individual LPs
What it takes to operate as a solo GP

(0:00) Jason and Molly tee up today’s topics: Breaking down Peloton’s new CEO background and leadership style and an amazing interview with Monique Woodard (Cake Ventures)

(2:05 ) Understanding Peloton’s new CEO and the value of its user base

(12:47) LinkedIn - Post your first job for free at https://linkedIn.com/angel

(14:15) Some more fun with numbers, plus breaking down Barry McCarthy’s introduction email to all Peloton employees

(21:43) Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist

(22:54) Finalizing McCarthy’s “principles of success” list and reflecting on the difficulty of a turnaround

(31:32) Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist

(32:50) Introducing Cake Ventures’ Founder & Partner Monique Woodard: Understanding Cake’s thesis on investing in demographic change

(42:20) Fundraising as a founder vs. fundraising as an aspiring fund manager, understanding how different types of LPs invest

(50:58) Check sizes differences from institutional LPs and individual LPs, understanding multiple fund closes

(1:07:18) Managing deal flow as a first-time fund manager, is the industry becoming more welcoming to underrepresented fund managers?

Check out Cake Ventures: https://cake.vc/

FOLLOW Monique: https://twitter.com/MoniqueWoodard

FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood

Transcript

Click on a timestamp to play from that location

0:00.0	Okay, everybody, we have an amazing episode of Angel today with Monique Wordard from Cake Ventures
0:05.7	and she is awesome. And she just raised her first 25 million dollar fund. She worked, of course,
0:11.3	at five-inch stars now called Five-inch Global. And she's focused on demographic changes in the world.
0:16.4	This includes aging, boomers, and minority populations growing globally, and women having their
0:23.2	purchasing power continue to grow. Yeah, it's a masterclass in the idea of thesis investing,
0:28.7	but also we cover real deep basics of raising a fund. Pitching is a founder versus pitching as
0:35.4	an aspiring fund manager, how she developed her fund pitch, what she looks for in her investments,
0:40.8	and oh my god, so much more. So much tactical information and speaking of tactics. First,
0:46.0	we're going to start with, again, Peloton, which has been quite a ride over the last couple of
0:50.9	months. Peloton has a new CEO. He's the former CFO at companies like Netflix and Spotify. And we
0:58.8	have his internal email, his 800-word email. We break down all the amazing leadership moments in
1:04.4	that email. It's going to be a great show. Yeah, it ends up really being a masterclass and managing
1:09.1	us so stick with us. Yeah, stick with us. Season six of Angel is brought to you by
1:17.9	LinkedIn jobs. A business is only as strong as its people and every higher matters.
1:24.0	Post your first job for free at linkedin.com slash angel.
1:29.2	Our crowd helps you invest early in pre IPO companies alongside professional VCs.
1:36.0	If you're interested in investing, you can join our crowd for free at OURCROWD.com slash angel.
1:45.2	And the Embroker Startup Insurance Program helps start up secure the most important
1:50.6	types of insurance at a lower cost and with less hassle. Save up to 20% off traditional
1:56.4	insurance today at embroker.com slash twist. While you're there, get an extra 10% off using
2:03.5	offer code twist. Alright, so we can't stop talking about Peloton as you know, Barry McCarthy,
2:10.4	formerly the CFO at Netflix and Spotify is taking over as Peloton's new CEO and he announced his
	...

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