The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Nick Moran

Venture Capital

Investment Strategies

Tovala

Artificial Intelligence

Entrepreneurship

Fintech

Costco

Startups

Healthcare

Startup Investing

Startup Founders

Investment Philosophy

Investment Advice

Uber

Investment Strategy

Cloud Computing

Technology

Risk Management

Startup Investment

Investing

The podcast dedicated to demystifying Venture Capital. Nick Moran and Nate Pierotti interview VC's & Startup Founders and on how they build great technology startups.

337 ratings

Publishes	Daily	Episodes	1000	Founded	12 years ago
Number of Listeners		Categories	BusinessTechnologyInvesting

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Guests Host Reviews Charts Talking Points

Latest Episodes

Investor Stories 473: Speed at Legora, Intensity at Mysten, Mastery at Heights Labs — Why These Founders Stand Out (Effron, Austin, Simpson)

On this special segment of The Full Ratchet, the following Investors are featured:

• Jacob Effron of Redpoint

• Ethan Austin of Outside VC

• Arianna Simpson of Andreessen Horowitz

We asked guests to discuss the most visionary founder that they... more

30 Apr 2026 • 6 min

507. Consumer Retrenchment or Reallocation, AI Impact on GTM and Purchase Decisions, How to Balance Consumer Sentiment vs. Behavior, and Where Smaller Funds Win (Natalie Dillon)

Natalie Dillon of Maveron joins Nick to discuss Consumer Retrenchment or Reallocation, AI Impact on GTM and Purchase Decisions, How to Balance Consumer Sentiment vs. Behavior, and Where Smaller Funds Win. In this episode we cover:

• Investing in t... more

27 Apr 2026 • 35 min

Investor Stories 472: Think Big, Stay Patient, Earn Access — Venture Advice from Foresite, Mayfield, and Blue Moon (Tananbaum, Chaddha, Orthlieb)

On this special segment of The Full Ratchet, the following Investors are featured:

• Jim Tananbaum of Foresite Capital

• Navin Chaddha of Mayfield

• Ben Orthlieb of Blue Moon

We asked guests for the most important piece of advice that they'd s... more

23 Apr 2026 • 3 min

Investor Stories 471: Missing Great AI Bets, Losing Conviction, and Overweighting Founders — Lessons from Redpoint, a16z, and Outside VC (Effron, Austin, Simpson)

On this special segment of The Full Ratchet, the following Investors are featured:

• Jacob Effron of Redpoint

• Ethan Austin of Outside VC

• Arianna Simpson of Andreessen Horowitz

We asked guests to tell the most important lesson they've learn... more

16 Apr 2026 • 6 min

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Recent Guests

Natalie Dillon

Partner at Maveron, consumer-focused early-stage venture investor

Maveron

Episode: 507. Consumer Retrenchment or Reallocation, AI Impact on GTM and Purchase Decisions, How to Balance Consumer Sentiment vs. Behavior, and Where Smaller Funds Win (Natalie Dillon)

Jake Saper

General Partner at Emergence Capital; focuses on B2B software and AI investments

Emergence Capital

Episode: 506. Mirage PMF, What LLMs Will Take On and What They Will Avoid, Why Outcomes Will Shift Models from Software to Services, and How Pricing Playbooks Are Being Rewritten (Jake Saper)

Jon Callaghan

Of True

True

Episode: Investor Stories 470: Passing on Uber, Perplexity, and Fintech's Breakout Winners — The Stories Behind the Misses (Orthlieb, Callaghan, Byunn)

Willy Schlacks

Co-founder and president of EquipmentShare, construction technology and equipment rental entrepreneur

EquipmentShare

Episode: 505. The Ins and Outs of EquipmentShare's $6B IPO, The Construction Job Site in 10 Years, Where AI Thrives and Struggles to Solve Complex Problems, and Roll Ups in the VC Space (Willy Schlacks)

Seth Levine

Founder/General Partner, Foundry Group

Foundry Group

Episode: Investor Stories 468: Selling Too Early, LP Pressure, and Investor Tension — Lessons from Investors at Foundry Group, Centana Growth, and Andreessen Horowitz (Levine, Byunn, Ulevitch)

David Ulevitch

General Partner, Andreessen Horowitz (American Dynamism)

Andreessen Horowitz

Episode: Investor Stories 468: Selling Too Early, LP Pressure, and Investor Tension — Lessons from Investors at Foundry Group, Centana Growth, and Andreessen Horowitz (Levine, Byunn, Ulevitch)

Jacob Effron

Partner at Redpoint, venture investor with a focus on building venture traction

Redpoint

Episode: Investor Stories 467: Investors from Techstars, Redpoint, and Andreessen Horowitz on Strategy, Writing, and Building an Edge in Venture (Cohen, Effron, Simpson)

Eric Byunn

Partner at Centana Growth Partners

Centana Growth Partners

Episode: Investor Stories 466: Jim Tananbaum, Eric Byunn, and Ben Orthlieb on the Questions LPs Should Be Asking (Tananbaum, Orthlieb, Byunn)

Madhavan Ramanujam

Partner at 49 Palms; VC/Investor

49 Palms

Episode: Investor Stories 465: Pricing Too Late, Selling Too Early, Investing Too Fast — Hard Lessons from Top VCs (Ramanujam, Cohen, Orlovski)

Host

Nick Moran

Host of the show and an experienced venture capitalist, Nick Moran brings insights from his career in venture capital and startup investment.

Reviews

4.9 out of 5 stars from 337 ratings

A Must-Listen for Founders and Investors
The Full Ratchet with Nick Moran delivers insightful conversations with top VCs, founders, and industry leaders. Each episode, like the one with Manish Patel, offers actionable advice on scaling companies, adopting AI, and building products that matter. If you're looking to sharpen your investment or entrepreneurial mindset, this podcast is a goldmine of wisdom. Highly recommend!
Apple Podcasts
5
Anna [SOP]
United Statesa year ago
The Show I Needed
It is difficult to find informative and educational podcasts out there that help founders and investors peak behind the curtain to see what the VC world is like. I highly recommend this show to anyone wanting to learn more about this space.
Apple Podcasts
5
JoeWhite90
United States2 years ago
Super solid podcast
Informative, check it out for yourself.
Apple Podcasts
5
Keltheceo
United States2 years ago
10/10!
Great show, the tips and insights are soooo valuable! I highly recommend!
Apple Podcasts
5
Claribelleee
Philippines3 years ago
The Definitive Podcast about Angel and Venture Investing
Nick Moran has done a truly remarkable job in creating and producing a consistently interesting and useful series that has become the contemporaneously historical record of the industry. His audience of the world’s leading angels and VCs listen to it religiously to keep up with people, funds and trends in the industry, and I’ve lost count of the number of times that I have followed up with business deals based on guests he has interviewed. If you want to truly know what is happening in the start... more
Apple Podcasts
5
Closet Reader
United States4 years ago

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Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Many emphasize the actionable insights provided, highlighting the show's value for both founders and investors.

The educational aspect is appreciated, with many stating it enhances their understanding of the venture capital landscape.

Feedback often reflects a strong appreciation for the depth and quality of the guest interviews, marking them as engaging and informative.

Listeners describe the podcast as a "must-listen" for anyone interested in venture capital and startup investing.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts	#238	France/Business/Investing
Apple Podcasts	#87	Israel/Business/Investing
Apple Podcasts	#203	Israel/Business

Talking Points

Recent interactions between the hosts and their guests.

Investor Stories 472: Think Big, Stay Patient, Earn Access — Venture Advice from Foresite, Mayfield, and Blue Moon (Tananbaum, Chaddha, Orthlieb)

Q: If you could share one piece of advice with a young new investor, what would you tell them?

Focus on creating access and improving win rates through differentiated approaches, rather than chasing the same conventional playbook used by established funds.

505. The Ins and Outs of EquipmentShare's $6B IPO, The Construction Job Site in 10 Years, Where AI Thrives and Struggles to Solve Complex Problems, and Roll Ups in the VC Space (Willy Schlacks)

Q: What was the biggest difference between how public market investors evaluated EquipmentShare versus private markets?

Public investors pressed for deeper, more rigorous analysis focused on fundamentals and scalability, while private investors tended to be more variable, oscillating between risk-on and risk-off moods, though some long-horizon investors existed.

Investor Stories 468: Selling Too Early, LP Pressure, and Investor Tension — Lessons from Investors at Foundry Group, Centana Growth, and Andreessen Horowitz (Levine, Byunn, Ulevitch)

Q: How do fiduciary responsibilities shape exit decisions for venture funds?

Funds must consider the fiduciary duties to LPs and the institutions that provide capital, balancing the desire to maximize returns with the obligation to act in the best financial interest of those entities involved in the fund.

Investor Stories 468: Selling Too Early, LP Pressure, and Investor Tension — Lessons from Investors at Foundry Group, Centana Growth, and Andreessen Horowitz (Levine, Byunn, Ulevitch)

Q: What is the core issue that often triggers conflicts over exits?

Misalignment on when and how to sell, with investors sometimes pushing for a quicker exit while management seeks longer-term upside, and even disagreements among investors about which path to take; the remedy is upfront acknowledgment of biases and transparent thinking about motives.

503. The Future of Fintech, If VC Growth Has Become a New Asset Class, and the Case For and Against Vertical Integration in the AI Age (Eric Byunn)

Q: What's your take on the current expectations for AI companies with aggressive growth rates?

Eric believes traditional high-growth models can still succeed despite current trends favoring explosive growth.

Audience Metrics

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Frequently Asked Questions About The Full Ratchet

What is The Full Ratchet about and what kind of topics does it cover?

Focusing on the often complex world of venture capital, this podcast features discussions with seasoned investors, startup founders, and industry leaders who share insights, strategies, and personal stories about venture investing. Topics frequently cover investment philosophies, innovative technologies, and the unique attributes of successful entrepreneurs, providing listeners with a comprehensive look at the nuances of building and financing startups in today's market. A standout feature is the blend of educational insights with real-life anecdotes, making it a valuable resource for anyone interested in the startup ecosystem or looking to improve their investment acumen.

Where can I find podcast stats for The Full Ratchet?

Rephonic provides a wide range of podcast stats for The Full Ratchet. We scanned the web and collated all of the information that we could find in our comprehensive podcast database. See how many people listen to The Full Ratchet and access YouTube viewership numbers, download stats, audience demographics, chart rankings, ratings, reviews and more.

How many listeners does The Full Ratchet get?

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What are the audience demographics for The Full Ratchet?

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Which podcasts are similar to The Full Ratchet?

These podcasts share a similar audience with The Full Ratchet:

1. The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
2. The a16z Show
3. Sourcery
4. The Official SaaStr Podcast: SaaS | Founders | Investors
5. Uncapped with Jack Altman

How many episodes of The Full Ratchet are there?

The Full Ratchet launched 12 years ago and published 1000 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact The Full Ratchet?

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Where can I see ratings and reviews for The Full Ratchet?

Rephonic pulls ratings and reviews for The Full Ratchet from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

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How do I access podcast episode transcripts for The Full Ratchet?

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What guests have appeared on The Full Ratchet?

Recent guests on The Full Ratchet include:

1. Natalie Dillon
2. Jake Saper
3. Jon Callaghan
4. Willy Schlacks
5. Seth Levine
6. David Ulevitch
7. Jacob Effron
8. Eric Byunn

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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