Unicorn Bakery - For the World's Most Ambitious Founders & Teams

In this episode of Unicorn Bakery, Mike Mahlkow sits down with Finn Murphy, General Partner at Nebular, to discuss how Finn identifies emerging trends and invests in founders building the future. Finn shares his philosophy of investing 12-18 months ahead of the market, focusing on areas like AI, robotics, space-based data centers, and quantum computing. Finn discusses the challenges of being a solo GP, how he balances managing his fund while supporting founders, and why curiosity and a deep understanding of technology are essential to his approach. He also dives into the differences between the European and US startup ecosystems, the role of founders in driving innovation, and why building trust is essential in venture capital. What you’ll learn: The Nebular Approach to Venture Capital: How Finn invests in trends 18 months ahead of the market and supports founders working on cutting-edge ideas Why Nebular focuses on early-stage startups at the pre-seed and seed stages Spotting Trends in Emerging Technologies: The importance of intellectual curiosity in identifying trends like AI applications, edge computing, and robotics How Finn evaluates founders working in niche, unexplored areas The Role of a Solo GP: The challenges of running a venture fund solo, from fundraising to supporting portfolio companies Why building trust with founders is critical to winning deals and creating long-term relationships US vs. European Startup Ecosystems: Key differences in funding, risk-taking, and founder mindsets between the US and Europe Why American investors tend to back founders earlier and take bigger risks compared to their European counterparts Support and Accountability for Founders: Why Finn believes in being a partner to founders rather than trying to impose solutions How founders can hold themselves accountable and build trust with their investors Talent and Culture in Startups: The importance of ownership and equity in attracting and retaining top talent Why creating a high-performance culture is essential for startup success ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Where to find Finn: LinkedIn: https://www.linkedin.com/in/finn-murphy-16160465/ Website: https://www.nebular.vc/ More about Mike: LinkedIn: https://www.linkedin.com/in/mikemahlkow/ Website: https://fastgen.com Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Chapters: (00:00:00) Who is Finn Murphy and what does Nebular do? (00:06:03) Business first vs. founder first - how is Finn meeting the right people? (00:10:39) Finn's framework for prioritizing (00:15:59) Advantages of a Solo-GP (00:22:04) The European Ecosystem vs. the US-Ecosystem (00:28:44) Which founder should stay in Europe/which one should try the US? (00:36:00) The difference in terms of compensation (00:40:46) Equity & Salary: Costs, differences, problems (00:45:58) Overworking, 6-day-work-policy: The Learnings for Hiring (00:50:21) Finn's "What gets you going?"

In this episode of Unicorn Bakery, Nir Eyal, bestselling author of "Hooked" and "Indistractable", joins Fabian Tausch to discuss how to design habit-forming products, balance personal focus, and build a life free from distractions. Nir shares his unique insights on the psychology of habits, why most people misunderstand distraction, and how founders can create meaningful, ethical products that improve users' lives. What You’ll Learn in This Episode: How to Build Habit-Forming Products: The Hook Model and how it helps create products that build healthy customer habits Why ethical design is critical when building products that people use frequently Becoming Indistractable: The difference between traction and distraction and why intent is everything How to master internal triggers—the root cause of most distractions—and take control of your time Time Management and Productivity: Why to-do lists often fail and how time-boxing can completely change how you work Practical strategies to prioritize reflective work over reactive tasks like emails and meetings Balancing Responsibility as a Founder: How to define your responsibility when building habit-forming products Why founders should consider a use and abuse policy to address overuse of their products Nir’s Approach to Angel Investing: How Nir chooses to invest in startups using the Hook Model to create positive, habit-forming products Examples of impactful companies Nir has supported, like Calm and Sunnyside, and how they create value ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Where to find Nir: LinkedIn: https://www.linkedin.com/in/nireyal/ Website: https://www.nirandfar.com/ Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Chapters: (00:00:00) Who did you write your books for and what is the message? (00:04:11) As a founder, what responsibility do I have to the user-terms of consuming my product? (00:09:18) How much can I leave users to their own responsibility to use my product and should I include safety elements in my product? (00:17:07) How do you feel about the fact that too often overconsumption (e.g. alcohol) is laughed at rather than criticized because it is "normal"? (00:21:16) Is too much self-optimization unhealthy, even if you are happy with your situation? (00:23:49) What levers can I move if I feel too much outside influence is affecting my focus on my own projects? (00:29:09) How important is repetition when you want to tackle things and make them happen, and how do you get rid of external triggers that distract you? (00:38:32) What is your perspective on the topic of To Do - Lists? (00:44:42) How does your knowledge of focus and productivity influence your work as an angel investor?

Clay is one of THE success stories of the last years. But in early 2022, after 5 years of building, Clay did close to 0 in revenue. Two years later, Clay did approximately 30 million in ARR (Annual Recurring Revenue). Kareem Amin, co-founder and CEO of Clay, shares the journey of building one of the most innovative AI-powered tools for go-to-market teams. From the early days of experimentation in 2017 to achieving hypergrowth and scaling to over $30 million ARR, Kareem dives deep into the challenges and lessons of building a product-led growth (PLG) company. He explains how Clay helps teams turn ideas into reality by leveraging AI for data enrichment and personalized outreach, and why focusing on customer feedback, community building, and iterative improvements were key to their success. What You’ll Learn in This Episode: The Journey to Product-Market Fit: How Clay evolved from a no-code builder to a go-to-market tool for sales and marketing teams Why narrowing down the product’s focus was critical to finding the right customers Building a Product-Led Growth Engine: The importance of removing friction in the user journey to drive adoption How Clay used community-driven growth and partnerships with agencies to scale Iterating Based on Customer Feedback: Why Kareem believes in focusing on the few customers who love your product to build momentum How Clay’s Slack community became a key driver for product improvements and user engagement Lessons in Leadership and Team Building: How to balance flexibility and structure when scaling a team during hypergrowth The importance of hiring people who bring unique perspectives and foster a culture of learning The Future of Go-To-Market Teams: How AI and tools like Clay are reshaping sales and marketing roles Why the rise of GTM engineers is changing how companies approach growth ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Where to find Kareem: LinkedIn: https://www.linkedin.com/in/kareemamin/ Clay (3.000 free credits): https://clay.com?via=73e581 Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Chapters: (00:00:00) The early beginnings of Clay (00:08:08) Moving from developers to sales people (00:16:20) Kareem's advice for teams currently building (00:21:36) How Kareem approaches the launch of new features (00:25:39) How close was the team to ending Clay? (00:33:45) How to make momentum stay (00:45:17) Current mayor shift in go to market (00:52:06) The hardest part about hyper growth (00:57:16) How Kareem manages his schedule (01:01:52) The best early-stage team members (01:06:17) The hardest part about building a product-led-growth motion

w Strava started as a "virtual locker room" in 1995 and why it didn’t work The role of timing, technology, and social media in Strava’s eventual success Building a Community-Driven Platform: Why Strava focused on engagement over growth and how this approach led to organic scaling Creating joy and reducing friction for users is important to keep them active and engaged Key Lessons in Scaling: How Strava expanded from cyclists to runners and other sports while staying authentic to each audience The challenges of internationalization and adapting to cultural nuances in markets like Brazil and the UK Navigating Challenges with Investors: How Mark balanced user-first decisions with investor expectations for growth The importance of patience, persistence, and perspective in building a long-term business Advice for Founders: Why does exponential growth start slow, and how do you stay motivated during the early stages? The value of maintaining a life outside of work is to avoid burnout and gain fresh perspectives. ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Where to find Mark: LinkedIn: https://www.linkedin.com/in/mark-gainey-b6536/ Website: https://www.strava.com/ Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Chapters: (00:00:00) The 1995 Origin Story of Strava (00:09:31) Most crucial denominator for the success of Strava (00:16:09) The journey of growth & global ambitions (00:20:51) Defining the critical engagement-metrics (00:29:08) A risky dependency on Garmin (00:44:04) Internationalization: must-have or coincidence? (00:50:06) The layers of product market fit (00:53:45) How to: Build a global community app (00:57:57) Teambuilding & culture at Strava (01:05:38) How to manage growth expectations (01:13:42) Mark's opinion on what makes a great investor (01:17:00) How to: Grow junior staff into new roles and responsibilities (01:21:47) Mark's advice for struggling founders

In this episode, Harper Carroll, one of the most prominent voices in AI education, joins for a deep dive into the art of creating educational content, and how she built an impressive following of over 400,000 people in just one year. She reveals the behind-the-scenes strategies that helped her viral content stand out in a world dominated by flashy, fast-paced trends and why staying true to her calm, research-based teaching style has resonated with so many. What you’ll learn: The Art of Educational Content Creation: How Harper transitioned from technical guides to short-form Instagram content while maintaining depth and clarity. Why creating for yourself—not the audience—leads to the most authentic and impactful content. The strategies behind her viral “10 Days of AI Basics” series and why it brought her 250,000 followers from a single video. AI in Everyday Life: Harper’s favorite AI tools, including Claude, Perplexity, Gamma, and Descript, and how they simplify her workflows. Surprising ways AI can enhance productivity, from crafting emails to creating slide decks and streamlining content production. How AI tools can revolutionize learning for children and adults alike by fostering curiosity and enabling personalized education. Building a Unique Content Style: Why Harper avoids flashy editing and relies on calm, ASMR-like presentation to stand out. The importance of hooks, intros, and storytelling in short-form videos - and how a single intro can transform growth. The balance between producing content for audience growth and retaining existing followers. The Rise of AI Education: How Harper’s fine-tuning guides became the number one resource for developers, helping thousands of people train AI models for personal and professional use. Her thoughts on AI’s potential to empower entrepreneurs and enable people to follow their passions. Why Harper believes AI will create a new generation of gifted children who can pursue their interests with expert-level guidance. ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Where to find Harper: LinkedIn: https://www.linkedin.com/in/harpercarroll/ Website: https://www.harpercarroll.com/ Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Chapters: (00:00:00) How is Harper thinking about content? (00:08:58) Is a viral post recreatable? (00:18:39) How important is the hook for video success? (00:28:20) How to create the perfect video (00:32:48) All about the script (00:41:55) Reasons not to publish a video (00:45:00) Content to grow the audience vs. content to retain them (00:49:56) Harper's AI-Tool-Stack (01:01:48) What's the best start to learn about AI?

On March 5th, 2021, SAP acquired Signavio for a billion dollars – this marks one of the largest Tech Exits in the German market to date. How does a university side project become a billion-dollar acquisition? In this episode, Gero Decker, co-founder of Signavio, shares the incredible journey of building the company – from its roots as an open-source project to bootstrapping, scaling, and eventually being acquired by SAP for over a billion dollars. Learn about the pivotal moments, the role of timing, and how a strong team culture propelled Signavio to success, even when the odds were against them. What you’ll learn: How a university project turned into a profitable company Why customer feedback and bootstrapping were critical in the early days How creative lead generation methods (like the "Hare Krishna Method") made a difference Why team culture and timing played a vital role in success How the billion-dollar SAP acquisition unfolded and the dynamics of negotiation MORE UNICORN BAKERY: https://zez.am/unicornbakery More about Gero Decker: LinkedIn: https://de.linkedin.com/in/gerodecker Website: https://www.signavio.com/de/ Where to get the Book: Amazon: https://links.unicornbakery.de/signavio Spotify Audio Book: https://links.unicornbakery.de/signavio-audio-book Join our Founder Tactics Newsletter: Twice a week, you’ll get the tactics of the world’s best founders delivered straight to your inbox. https://www.tactics.unicornbakery.de/ Marker: (00:00:00) Why were so many coincidences necessary for Signavio to even be founded? (00:05:00) How did the Signavio story unfold? (00:12:10) From open source to profitable company: The milestones (00:21:22) Equity & founding team: The starting point for Signavio (00:27:54) Prioritization & team spirit in a small team (00:31:11) Product & growth in 2010 (00:34:46) Lead generation & the failure of conversion (00:42:02) First Go-to-market motion at Signavio (00:46:52) First customers: The challenges with Customer Success (00:52:42) From bootstrapped to VC case – why now & what changed? (00:59:13) Fast-growing company: How do you maintain focus? (01:07:54) The impact of the COVID-19 pandemic on Signavio (01:13:04) The Path & Negotiation to the SAP Acquisition (01:17:14) The Future of SAP Signavio (01:21:37) The Lesson: Lifting Up Each Other

Richard Socher, most recently Chief Scientist at Salesforce under Marc Benioff and one of the most renowned AI researchers in the world, has now founded you.com instead of joining one of the big AI companies. Richard believes that he can have a more positive impact on humanity. you.com now reaches millions of users and gives you as a user the opportunity to work based on the latest models. Richard talks about building an AI company that always has to work on the edge of innovation, how he would manage research teams today, how you as a founder find out which AI tools really help you and how he himself thinks about prioritization privately and in the product. The conversation was particularly impressive for me, as Richard grew up in Dresden and moved to Silicon Valley at an early age and (not only) became an absolute luminary for artificial intelligence from there. What you learn: How do you evaluate which AI tools will really help you and your company? When does it make sense to develop your own services in-house vs. outsourcing or buying in services? As a founder, how can I find out how much money I really want/should raise? How can I optimize my energy management as a founder? What qualities should a good mentor have? Further links: ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Richard Socher: LinkedIn: https://www.linkedin.com/in/richardsocher/ Website: https://www.socher.org/ you.com: https://you.com/ Unicorn Bakery WhatsApp Broadcast: Here you can find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) How to evaluate AI tools (00:22:01) Will AI and LLM wrappers be valid businesses? (00:25:48) Product decisions: Building things inhouse vs. implementing things (00:29:23) How to size funding rounds (00:34:24) you.com team setup & how to run high performing AI research teams (00:38:59) Why is it more impactful to build you.com than joining OpenAI? (00:43:44) Energy management as a founder (00:52:58) Prioritization for founders (00:56:19) What makes a great mentor? (01:00:57) What is the easiest way to try you.com?

Only 10% of start-ups are successful and yet 82% of founders think they will be successful. 78% of start-ups don't even manage to pay back their investors. Dave Hersh scaled a company with Jive to more than 10 million dollars in turnover, took a growth investor on board and Jive later went public. Through his other positions as a coach, board partner at a16z and also as a buyer of start-ups, he has a 360-degree perspective on the things that go wrong in the venture ecosystem. His book Reignition is all about dealing with the 90% of startups that don't achieve outlier success. As a founder, how can you prevent your startup from getting stuck halfway through, or pull the cart out of the mud if that has already happened. What you learn: The evolution of the venture capital ecosystem and its current challenges The importance of intuition versus data-driven decisions in company building When and how to raise capital and the risks of funding too early or too much The role of market access and operational efficiency in the success of startups How to choose the right investor and the importance of deep personal connection and trust ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Dave Hersh: LinkedIn: https://www.linkedin.com/in/davehersh/ Reignition - Transforming Stuck Startups: https://amzn.eu/d/3ZHnrUK Unicorn Bakery Whatsapp Broadcast: Here you can find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) To what degree do you think the venture ecosystem is broken? (00:04:67) What questions must be answered before building a company? (00:11:33) Where do I position myself to set the guidance for the last few years? (00:16:23) When is the right time to raise money, and do you differentiate between private and institutional investors? (00:22:49) What do you tell founders that are scared of not reaching sales targets fast enough? (00:25:36) How do I find the right investor, and what should I look for? (00:29:26) How can founders see if they are on the right track and the company is moving in the right direction? (00:34:27) What is the flywheel that leads to being stuck as a company? (00:35:39) Trying to do my best hiring vs. putting persons in the position that hire better than me (00:38:33) How do I unstuck my company, and how do I realize my own mistakes? (00:49:01) What about overthinking in the early founder stage? (00:52:39) What do you have to think about to become the best performer, and where do I start? (00:59:20) Is it even possible to be successful in the early 20s?

Fabrice Grinda, founder of FJ Labs and extreme athlete, explains how he has made over 1100 investments, primarily in marketplace and network-effect startups, generating an average 40% return over 26 years. Fabrice also likes to simplify a lot in his life by outsourcing things. Find out his recipe for a fulfilling life and managing virtual assistants in the podcast. What you will learn: Outsourcing: How to outsource more professionally and privately to increase your quality of life and output Marketplaces: What are the difficulties in scaling marketplace companies, the most important KPIs and current valuations? FOMO: How do you manage not to be pushed by others? Senior hiring: Is it typically European to hire senior rather than young and motivated? ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Fabrice Grinda LinkedIn: https://www.linkedin.com/in/fabricegrinda/ FJ Labs: https://www.fjlabs.com/ Unicorn Bakery Whatsapp Broadcast: Find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) What does a successful life look like to you and what role does money play in your life? (00:05:50) How do you decide what things you outsource vs. what you do by yourself and how do you delegate successful? (00:12:56) Managing lessons to become a relaxed manager/avoiding things you don't like (00:16:38) Is hiring seniors instead of young ambitious people an European problem? (00:20:27) FJ Labs’ Investing Strategy that leads to 1100+ Investments and 40% realized IRR over 26 years (00:36:13) What fascinates you about marketplaces and why did you stay focused? (00:43:28) What is needed to scale a marketplace successfully (00:56:18) How do you manage and resist FOMO? (00:59:39) Fabrice Grinda’s view on the macroeconomics and their influence on the venture ecosystem (01:06:37) As an extreme sports-fanatic: what are the biggest parallels between extreme sports and investing/building a company? (01:09:37) What did you learn about yourself through your extreme adventures and how do you manage stress? (01:13:49) Was it as easy as it appears for you to reach everything you want and how much do you need other people's opinions?

Is the European climate for early-stage start-ups improving again? After the European fundraising ecosystem was somewhat more cautious in the years following the corona boom, the question is: how is it currently developing? Fabian meets George Robson, Partner at Sequoia Capital, probably the best-known venture capital fund in the world. Together they talk about financing start-ups with high capital requirements, the fine line between optimistic vision and realism when pitching and the right approach to investors like Sequoia Capital. What you learn: Which investor should you seek for your startup if you're building more of a cash-heavy business? Market assessment: Are consumer products making a comeback? Sequoia Capital: How does Sequoia invest and what does the company value in founders? How much storytelling in the pitch is good and when does it become too much? How important is the warm intro really and what chances do you have with cold outreach to investors? Here you can find tickets for MERGE: https://merge.berlin Don't forget to use the code UNICORN for 30% off. ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery George Robson LinkedIn: https://www.linkedin.com/in/georgerobson Sequoia: https://www.sequoiacap.com/ Unicorn Bakery Whatsapp Broadcast: Find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) Is the European fundraising ecosystem waking up again? (00:04:21) How do I approach investors if I'm building a startup that combines hardware and software instead of the usual b2b SaaS startup? (00:07:12) What investor am I looking for if I'm a cash-heavy business? (00:11:40) How does investing at Sequoia work? (00:14:20) Are consumer products experiencing a comeback? (00:18:15) When it comes to pitching, where is the fine line between storytelling and "being too much"? (00:23:45) How to get in touch with Sequoia?

Scott Chachon is one of the co-founders of GitHub, a developer platform that was sold to Microsoft for around 7.5 billion dollars. We talk about the moment he found out about the sale to Microsoft, how much money he made from the sale and whether it made him happy. He is now founding his third startup, Gitbutler, after investing 12 million of his own money in Chatterbug and has now decided to grow the company profitably without investment. We talk about founding in Germany and Europe as opposed to the US and Scott explains why he is now founding in Germany for the second time. What you learn: Milestone exit: How desirable is exit as a goal really? Customer retention: How hard is it to retain customers and what options, such as experiential approaches, are there? Team composition: What makes a high-performance team? Made in Germany: What are the pros and cons of setting up in Germany vs. the USA? Looking for 100.000€ in Cloud Credits, then apply for the OVHcloud Startup Program: https://startup.ovhcloud.com EVERYTHING ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Scott Chacon LinkedIn: https://www.linkedin.com/in/schacon/ Gitbutler: https://gitbutler.com/ Merge: https://merge.berlin Unicorn Bakery Whatsapp Broadcast: Find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) What changes when you finally get the 100 million dollar exit? ? (00:06:20) Did you experience an exit-depression? (00:11:03) 12 million personal investment in Chatterbug? (00:15:04) What is your advice for founders to get to the "zero-to-one-effect"? (00:23:01) Gitbutler: Product & Vision (00:29:04) How did you build your third venture with all your experience? (00:32:55) What does it take to make a developer tool successful? (00:36:11) Was your product ready for a lot of attention when you got thousands of signups? (00:39:03) What do non-technical-founders forget about that makes it harder for tech people to succeed in the company? (00:42:26) Why is building from Germany great in some parts? (00:55:44) Investors vs. Bootstrapping: What are your thoughts? (01:00:14) How did you plan your runway? (01:03:44) The Merge: The developers conference

What role does creativity play for entrepreneurs? And how is the understanding of creativity changing as a result of artificial intelligence? Scott Belsky founded Behance, sold the start-up to Adobe and is now Chief Product and Chief Strategy Officer there. Adobe is one of the 50 most valuable companies in the world. At Adobe, Scott oversees all new products and is deeply involved in what the future looks like for creatives. In this podcast episode of Unicorn Bakery, Scott Belsky and Fabian Tausch talk about the impact of artificial intelligence on entrepreneurship, creativity and product development in companies. What you'll learn: -What impact is AI having on work at large corporations like Adobe? -How are product teams changing due to AI? -How did Scott feel as a founder after selling his company to Adobe? -What do investors like Scott want when looking for new talent? -When is it worth launching a new product and when is it worth developing the existing one? ALL ABOUT UNICORN BAKERY: https://zez.am/unicornbakery Scott Belsky LinkedIn: https://www.linkedin.com/in/scottbelsky/ Adobe: https://www.adobe.com/ Unicorn Bakery Whatsapp Broadcast: Find out everything you need to know as a founder: https://drp.li/jrq5S Our WhatsApp Broadcast keeps you up to date with insights into the scene, news and top content. Marker: (00:00:00) How does creativity influence entrepreneurship? (00:06:28) How does AI impact such large organizations like Adobe? (00:10:21) How do you decide if you want to launch a new product vs. improve a "good old" one and what are your thoughts on a good launch? (00:18:37) How did you feel after selling to Adobe? (00:23:33) What are you looking for when you want to invest in a business?