Breaking Patterns, Betting on AI, and the Future of VC with Mike Maples Jr.

Join Howard Lindzon and Michael Parekh as they dive deep into the world of venture capital with Mike Maples Jr., founding partner at Floodgate Partners. This insightful conversation covers the evolution of VC from Web 2.0 to the era of AI, the importance of pattern-breaking in startup success, and the changing dynamics of founder-investor relationships.

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Key topics include:

• The origins of Floodgate and Mike's journey in VC

• The concept of "pattern breaking" in startup investing

• The transition from mass computation to mass connectivity to mass cognition

• The importance of valuation and return potential in seed investing

• The future of AI and its impact on various industries

• The delicate balance of being "founder friendly" while serving LPs

• The potential for AI to create new consumer-focused breakthrough companies

Skip Ahead (because who’s got time?)

(00:00) Introduction and Mike's background
(05:40) The origins of Floodgate and early investments
(14:15) Navigating the venture capital landscape
(27:15) The role of founders in startups
(32:30) The future of AI and its impact on various industries
(38:08) What people miss about seed investing
(44:14) Defining a circle of confidence and looking back on missed opportunities
(50:40) What we're optimistic about: cognition and LLM's
(01:01:53) The potential for AI in creating new consumer companies
(01:08:04) Final thoughts on the future of venture capital
(01:14:04) Founder-friendly investing