The Most Awesome Founder Podcast – Details, episodes & analysis

Episode 90 of the Most Awesome Founder podcast and we are pleased to welcome Karel Dörner! Karel is one of the earliest role models of the WHU entrepreneurship spirit; from the dorm rooms of WHU to co-founding eBay competitor Alando, it took him only a few months.

Moreover, leaving McKinsey to found a startup with buddies from university when founding was yet to be considered an outstanding career option takes guts and a strong-minded person willing to take a risk. With a blend of personal anecdotes and professional insights, Karel unveils the highs and lows of startup life and the wisdom gained from his many business endeavors.

Tune in to find out how, in the end, he found his way back to top-tier consulting and can still transform high-growth startups today.

Chapters:

(0:08) Intro to the episode

(0:44) Karel’s professional background: from founding alando to joining McKinsey 

(13:35) Are there parallels between doing business in 1998 and today?  

(27:30) How do you make an exit decision as a young founder?

(33:12) How can consultancies help fast-growing companies 

(37:55) Changing external environments for fast-growing startups

(42:40) The startup ecosystem approach

(48:00) The public sector as a lead customer – a model for Germany?

(53:14) When is the right point to exit as a founder 

(59:30) Books & podcast suggestions

Karel's recommendations:

Startup Insider Podcast

Benedict Evans

Flyvberg, Gardner- How Big Things Get Done

In this episode, we delve into Tobias Auferoth's career journey, which led him from an beginning at Goldman Sachs to a pivotal turn toward entrepreneurship and technology in fintech.

As the co-founder and managing director of the fintech startup Upvest, Tobias shares his insights on creating a groundbreaking investment API, demystifying the complexities of financial technologies for our audience. With clients like Revolut, Raisin, and N26, his company exemplifies the fusion of traditional finance with modern technology, offering seamless integration of securities trading into existing platforms.

This conversation highlights the challenges of navigating a highly regulated industry and emphasizes the importance of trust, innovation, and the delicate balance between rapid growth and compliance.

Dive into this episode to explore the intersection of regulation and innovation, where the future of finance is being redrawn 🚀💼🔍

Chapters:

(0:35) Tobias gives an intro to his background

(2:50) Why was the reasoning for co-founding Upvest

(4:25) What is Upvest’s investment API about? 

(8:05) The role of trust in a B2B fintech

(10:53) How can a startup grow in a heavily regulated industry?

(14:30) The need for VC involvement in Upvest

(16:10) What is the culture and mindset in Upvest? 

(20:08) The overall state of the fintech industry

(22:45) What is the best way to enter the finance industry as a career path?

(26:20) Podcast and book recommendations

Tobias‘ recommendations:

Janosch Kühn - Mach keinen Quatsch

We are excited to unveil the 10th installment of the inspiration session, featuring our co-hosts GerritMcGowan and Dries Faems.

They discuss a captivating mixture of different topics in the realm of entrepreneurship from an academic and a practitioner perspective, such as:
•    Why aren't there more sustainability-driven unicorns, although badly needed
•    Which startups get supported by government grants
•    What the academic research on the controversial topic of hybrid work yielded
•    The next big thing on the horizon: quantum computing 

And have you always wanted to know how to create the boyfriend/girlfriend of your dreams? Then, gear up for a rollercoaster of knowledge, reflection, and pure amusement!

You won't want to miss this exhilarating episode!🔍

Chapters:

(0:10) Intro of Gerrit

(2:30) What is something that made Dries learn? 

(3:40) Did Gerrit apply for governmental funding for one of his startups?

(7:45) Subsidy entrepreneurs: An inquiry into firms seeking public grants

(15:40) Which startups should get supported by grants?

(23:15) What is something that made Gerrit learn? 

(28:23) Why aren’t there more social unicorns?

(37:15) What could Gerrit have done differently for his own social venture?

(41:58) The growing importance of social ventures

(47:55) Something that made Dries learn

(55:28) Deep dive into the paper: How hybrid working from home works out

(1:04:55) Something that made Gerrit learn

(1:11:30) Are we prepared for quantum computing? Did we learn something from AI?

(1:20:31) Something that made Dries laugh

(1:27:40) Something that made Gerrit laugh

(1:36:30) Outro

Discussed sources:

Something that made you learn:

Gustafsson, A., Tingvall, P. G., & Halvarsson, D. (2020). Subsidy entrepreneurs: An inquiry into firms seeking public grants. Journal of Industry, Competition and Trade, 20(3), 439-478.

Chang, A. M. (2018). Lean impact: How to innovate for radically greater social good

Something that made you learn:

Bloom, N., Han, R., & Liang, J. (2022). How hybrid working from home works out (No. w30292). National Bureau of Economic Research

Wadhwa, V., & Kop, M. (2022, October 4). Quantum computing is even more dangerous than artificial intelligence. Foreign Policy 

Something that made you laugh:

https://lnkd.in/es5rkdqD 

Marr, B. (2023, September 28). Artificial Intimacy: How Generative AI Can Now Create Your Dream Girlfriend. Forbes

In today's episode 79, Dries & Gerrit explore the toll it can take on a founder's mental health whilst trying to materialize his entrepreneurial dream into a reality, and they have an excellent guest for that matter: Prof. Ute Stephan, a renowned entrepreneurship scholar from King's College and an outstanding expert on entrepreneurial wellbeing and founder stress.

The three plunge into the fascinating topic of how entrepreneurs' wellbeing directly impacts the success of their ventures and the vital role strict leisure time management can play. 💼 How can one implement coping strategies to avoid getting caught in a cycle of overwork and why meticulously tracking health and fitness can be a curse and blessing? 📆 Dive into a captivating episode where personal journeys intertwine with cutting-edge entrepreneurship research, all shining a spotlight on mental health.

Check on yourself and, if you can, on others!

Chapters:

(0:08) Introduction of Dries

(0:50) Ute's backstory

(3:53) What drove Ute as a psychologist to research Entrepreneurs?

(7:22) Is wellbeing and mental health a "first world problem"?

(10:15) What are overarching meta-analysis results regarding entrepreneur's wellbeing?

(13:10) Being in control vs being "employed" by a VC 

(16:25) How does growing responsibility impact a founder's mental health

(19:20) Effect of the Covid pandemic

(21:14) Strategies to deal with the stressful challenges

(26:48) Motivation and goals as coping strategies

(31:20) How did Gerrit notice that his mental health was deteriorating?

(35:25) Which techniques does Gerrit apply today?

(41:10) Generation Z and the relationship to hustle culture

(44:28) The culture of failure in different nations and how that relates to distress

(46:50) Drugs to mitigate stress or depression

(49:30) How to not get stressed by avoiding stress

(55:00) Ute's book recommendations

Ute‘s book recommendation:

Davies, J. - Sedated: How Modern Capitalism Created our Mental Health Crisis

Further resources:

FoundersTaboo

Founder Mental Health Pledge

King’s College London – LinkedIn

King’s College London – Twitter

We are over the moon to have Dana Menzel on board for episode 78 of the Most Awesome Founder Podcast. Dana's entrepreneurial path is impressively versatile. She started as a goldsmith, mastering the art of this filigree craft, and turned this into her first thriving jewellery business. Now, she is leaping into a whole new area, and we are excited to hear about this!

With roots spanning across international borders, Dana is carving out a space for herself as a female entrepreneur. She talks about the most significant challenges as a female entrepreneur in Germany, how she masters them, and what qualities she looks for in a co-founder.

An MBA and WHU accelerator graduate, Dana speaks to her education's instrumental role in equipping her with the tools and networks vital in breathing life into her idea of a platform born from a desire to uplift women through financial literacy and independence since her master's thesis provided some shocking insights in that regard.

Chapters:

(0:10) Dries introduction to the episode

(0:40) Dana's background

(3:40) The intention of doing a goldsmith apprenticeship

(5:30) How did Dana pivot from a goldsmith to a more business life

(10:45) Dana talks about her newest endeavor, "Sayhitofinance " 

(13:50) How the idea came to pass: women often don't deal with their finances themselves

(16:10) Community-building aspect of Sayhitofinance and how it benefits women

(21:15) What is the most challenging thing about being a female entrepreneur in Germany?

(27:55) The choice of being a solo founder and what a perfect co-founder would look like for Dana

(29:53) Advice for female entrepreneurs from Dana's own experiences

(32:05) Dana's recommendations for podcast & books

Dana‘s recommendations:

FAST & CURIOUS

Panda Mama: Wie man glückliche und selbstbewusste Kinder großzieht

We're kicking off our new season with a bang! A dive deep into the world of angel investing with none other than Oskar Hartmann.🌍✨ His outstanding track record: 14 (!) of his startup investments have reached unicorn status, he's one of the 1000 wealthiest Germans, and in his spare time? He cracks world records in indoor rowing 🥴🏆

Alongside our brilliant hosts Dries Faems & Gerrit McGowan, Oskar unveils the intricacies of spotting unicorns, what he learns from Olympic champions, and how to source for business opportunities from Africa to South America 🦄🚀

By the end of this episode, you'll be equipped with a treasure trove of insights into the culture of risk, pinpointing unparalleled opportunities and the magic of unconventional thinking. Let Oskar's unparalleled experiences and tales inspire you to transcend your limits and chase excellence! 💡🌟

Chapters:

(0:00) Dries introduction to our guest, Oskar Hartmann

(0:45) Oskar's journey from an "explorer" to an entrepreneur

(5:35) Getting ideas from other markets to detect current trends

(10:20) Is the US still a role model for entrepreneurship ideation?

(14:28) Germany's role in the global founder sphere

(18:48) Oskar's explanation for his huge investment success

(27:48) Accessing international investment opportunities and avoiding adverse selection

(32:55) Oskar's rationale behind his investing decision 

(37:40) Investing in a team rather than a market or an idea?

(42:28) Oskar's extreme recreational activities

(48:35) Recovery time while building companies and future endeavors  

(53:45) Oskar's book recommendations

Oskar‘s book recommendation:

The Rational Optimist: How Prosperity Evolves

Get ready for an inspiring conversation with successful entrepreneur Björn Maronde in the newest episode of the Most Awesome Founder Podcast!

Björn shares his personal background, the pivotal moments that led him to entrepreneurship, and the valuable lessons he learned along the way. 📚💡 You'll discover how an executive MBA played a role in shaping his entrepreneurial career and how he navigated the challenges of starting a business with a close friend. 🤝

Björn also reveals the importance of product-market fit and the challenges of expanding into multiple markets simultaneously. 🚀

So, whether you're a seasoned entrepreneur or just starting out, this podcast episode is a must-listen. Tune in to gain valuable insights and strategies that will propel your startup journey.

Chapters:

(0:20) Dries introduction to the episode

(0:40) Björn's entrepreneurship trajectory and the influence of doing an MBA

(2:45) Capabilities and skills required for founding 

(4:00) Björn's first entrepreneurial activities

(6:25) Real estate crowdfunding platform Exporo

(8:30) Founding a startup with your best friend

(11:40) Björn's most recent startup Smace

(16:25) Learnings as a serial entrepreneur

(17:55) Scaling and product market fit

(21:30) Balancing private and business life as an entrepreneur

(24:30) Advantages of an experienced founder

(27:30) Generative AI in Björn’s startup

(29:25) Participating in an accelerator as a more experienced founder

(32:00) Objectives and challenges with current product market fit

(34:00) Advice for Björn's younger self

(36:15) Björn’s book recommendation

Björn’s book recommendations:

The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life

The 5 AM Club: Own Your Morning. Elevate Your Life.

Our next guest on the Most Awesome Founder podcast: Roman Kirsch! 🎙️

Roman will be sharing his high-paced entrepreneurial journey, characterized by his story of perseverance, hard work, and why sometimes naivety can be beneficial.

Discover Roman’s passion for building new ventures that led to various well-known and flourishing startups but also some non-successes and how he dealt with them. Roman also discusses his insights from switching from an entrepreneur to an investor role, the importance of a startup’s idea vs. its team, and why serial founding can almost be addictive. 💉

We hope this unique founder story will stimulate the entrepreneurial spirit of our listeners!

Chapters:

(0:55) Intro of Dries

(2:05) Roman's entrepreneurial start

(7:35) The process of Roman's first founding  

(12:20) Acquiring funding in a recession

(14:30) Getting first funding

(20:00) Doing a financially lucrative exit as a 23-year-old 

(25:40) Experiences from moving as an entrepreneur to a more corporate environment

(29:30) The difference between American and German startup culture

(32:32) The story behind Amorelie

(36:45) What does it mean to have a focus?

(38:35) Lessons of Casacanda for future endeavors?

(42:03) The emotional side of being an e-commerce wunderkind

(47:15) Raising as a successful entrepreneur 

(48:25) The end of Lesara and fighting against subsidized competitors

(55:20) Failing for the first time as a wunderkind

(58:45) Would you invest in a failed entrepreneur?

(1:01:05) Roman's latest entrepreneurial activities

(1:08:40) Team, idea and pivoting

(1:10:55) Roman's role as entrepreneur and investor

(1:15:00) Roman's recommendations for books

(1:17:30)

Roman’s book recommendations:

Skin in the game: Hidden Symmetries in Daily Life

Predictably Irrational: The Hidden Forces That Shape Our Decisions

Thinking, Fast and Slow

Why We Sleep: The New Science of Sleep and Dreams

Total Recall: My Unbelievably True Life Story

We are thrilled to announce the launch of the 9th edition of the inspiration session with Gerrit and Dries! 🎉

They will once more discuss diverse and thought-provoking topics, combining insights from an academic and a practitioner perspective. What are the legal implications of AI-generated inventions, which entrepreneurs should consider entering a venture studio and why women should be careful if their boss plays golf?

These and other questions will be answered, so be prepared to learn, think, and laugh. Don't miss this captivating episode! 🔍

Discussed sources:

Dahlander, Linus, et al. "Blinded by the person? Experimental evidence from idea evaluation." Strategic Management Journal (2023).

Steve Lohr: Can AI invent? The New York Times, July 15, 2023

Biggerstaff, Lee E., Joanna T. Campbell, and Bradley A. Goldie. "Hitting the “Grass Ceiling”: Golfing CEOs, Exclusionary Schema, and Career Outcomes for Female Executives." Journal of Management (2023)

Steve Blank: Entrepreneurs, Is a venture studio right for you? Harvard Business Review, December, 2022

Chen, Lingjiao, Matei Zaharia, and James Zou. "How is ChatGPT's behavior changing over time?." arXiv preprint arXiv:2307.09009 (2023)

Truic Startup Savant Blog: 10 Strange, Yet Successful, Startups

Chapters:

(1:20) Intro of Gerrit

(2:20) Something that made Dries learn: Blinded by the person in idea evaluation?

(3:40) Most prominent cognitive biases when evaluating pitches 

(9:45) Practical takeaways from that paper   

(16:15) Something that made Gerrit learn: Can AI invent?

(20:40) Should AI inventions get protected by patents?

(22:10) Is AI the tool or the inventor?

(30:00) Something that made Dries think: Hitting the grass ceiling

(33:30) Potential exclusive „grass ceilings“ in entrepreneurship

(39:30) Female representation in German companies

(43:40) Something that made Gerrit think: Is a venture studio right for you?

(49:30) Why are venture studios more common in Europe?

(51:20) Four types of venture studios

(56:30) Potential choosing criteria regarding venture studios

(1:05:30) Something that made Dries laugh: ChatGPT’s behavior changing over time

(1:12:25) Something that made Gerrit laugh: four strange but successful startups

(1:22:30) Outro

🎧 We are thrilled to announce a new episode of The Most Awesome Founder Podcast, featuring one of Germany's most prominent deep tech investors, Frank Thelen. In this wide-ranging discussion, Frank shares his perspective on how AI and generative technologies are beginning to reshape the startup and venture capital landscapes. 🚀

While AI promises to turbocharge innovation and efficiency, Frank cautions that many startups are simply slapping an "AI startup" label on their pitch decks without true breakthroughs. Real advances require deep research and teams willing to eat glass for years before product-market fit. We also dive into the opportunities and limitations of using AI in deal flow analysis and startup evaluation. While AI can help sort prospects, Frank emphasizes that human judgment around founding teams and markets remains critical - not something algorithms can replicate (yet!). 🤖💡

With his characteristic candor, Frank voices his views on creating a thriving European tech ecosystem and why he engages in spirited LinkedIn debates on issues like work-life balance and how to balance innovation with ethics. If you're an investor, founder, or tech enthusiast, this thought-provoking episode is not to be missed. Tune in across platforms like Apple Podcasts and Spotify to hear our free-wheeling exchange. After listening, we'd love to hear your key takeaways in the comments! 🌟

Chapters
(0:00) Teaser
(1:00) Introduction by Dries 
(2:15) Frank’s Background 
(4:00) Do you already see specific changes in how startups are working with generative AI?
(6:10) Buzz Word Bingo with AI
(6:37) Are there any revolutionary startups within AI?
(8:50) Are you scaling back your investments in AI startups?
(12:12) Where is room for creating an unfair advantage in AI startups?
(15:00) Your perspective on how AI will transform the venture capital world
(18:30) How can you leverage the data from software to create an unfair advantage?
(21:00) Do you think the whole value chain of venture capital will be automated from sourcing to investing?
(24:10) Will there be a shift in how funds are set up?
(27:40) What is your opinion on how regulation regarding AI in the EU is moving?
(31:26) Do you see regulatory risks?
(33:25) How should the tension between the opinions on data regulations be dealt with?
(36:30) Why do you post about heated topics on LinkedIn?
(41:30) What is your rationale behind posting on social media?
(45:00) Book, Podcast, and Music recommendations
(45:50) Who will win the fight, Elon Musk or Mark Zuckerberg?
(47:00) Thank you for listening!

Frank's podcast recommendation:

All-In Podcast