Your Startup Lawyer
#18 VC Martin Tobias: You have one job as a CEO: don't die. Don't run out of money.
30 Jun 2025
In this conversation, venture investor Martin Tobias shares his insights on the startup journey, emphasizing the importance of resilience, understanding investor motivations, and the necessity of hiring the right team. He discusses the challenges founders face, the significance of mindset, and how AI is transforming the startup landscape. We also touch on the legal aspects of starting a business and the traits that make a successful founder. Martin Tobias is not just an investor—he’s an operator, a futurist, a biohacker, and someone who deeply understands what it takes to build enduring companies. He has seen it all—from being a 3x venture-backed CEO and raising over $500 million to leading two IPOs, to now backing some of the most friction-killing startups around the globe. He was an early investor in many unicorns, such as Google, DocuSign, OpenSea and Deel.As the Managing Partner at Incisive Ventures, Martin invests in early-stage B2B software companies that reduce friction at scale. His unique lens combines hard-earned founder wisdom with a global investment thesis.takeawaysThe startup journey is filled with challenges that require resilience.Understanding investor motivations can help founders navigate funding.Defensive founders are often a red flag for investors.Hiring the right team is crucial for scaling a startup.Curiosity and a positive mindset are essential for success.Founders should be prepared to face adversity and learn from it.AI tools can significantly enhance startup efficiency and innovation.It's important to choose co-founders wisely and ensure alignment.Legal considerations are vital in the early stages of a startup.Successful founders often have a unique insight into their market.Chapters00:00 The Startup Journey: Embracing Challenges02:58 Understanding VC Motivations and Founder Dynamics05:48 The Importance of Fit: VCs and Founders08:59 The Role of Operators in Evaluating Founders11:47 Red Flags in Founders: Defensive Traits14:55 Mindset Matters: Curiosity vs. Defensiveness17:51 Finding Opportunity in Adversity21:10 The Poker Analogy: Risk and Decision Making30:43 Strategic Risk-Taking in Startups and Poker32:33 Disrupting Incumbents: The Startup Advantage34:05 The Power of Going All In36:30 Living in the Present: Overcoming Fear and Anxiety38:58 Learning from Mistakes: The Importance of Investor Dynamics42:47 Navigating the Funding Landscape: Lessons Learned45:31 The Changing Landscape of Startup Funding48:01 Innovative AI Tools for Founders50:48 Rapid Fire Founder Insights
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