In this re-run of Best of Panic, I had been dying to get Jan on the podcast. After my brief podcast break, I decided to have a lot of my friends on – people I like talking to about markets. Jan will always be one of those people. He’s super smart and well educated. I’m in the lucky position where I don’t have to be in the market, but because I’m fascinated by markets, started Stocktwits, love talking about them, and want to continue banging out some alpha, I invited Jan on the podcast. We had a great discussion about debt. We talk about money flows, and while Jan wasn’t the earliest, but early enough with directionally putting his firm on a path towards crypto, he had a lot of neat insights there as well. As was true then and is true now, people need to be thinking about the market in just a little different way than what worked in the past.

In this Best of Panic re-run from November 22’, Jim O’Shaughnessy came back for a record fourth appearance. The previous time he was on, we talked about the real panic; I’d come back from vacation fired out of a cannon – only wanting to talk to my close friends or pimp some of our companies. But this time around I had a lot to talk to Jim about. He was guest number one on the show and since then the Fed had hiked another 75 basis points, Meta imploded (and has since turned around), and we were in the first innings of a new owner at Twitter. It’s fun to jump in a time capsule and explore how we were thinking about things at the time. Once again, Jim was the calm voice of reason that helped us navigate the turbulent times we found ourselves in. The GOAT himself, Jim O’Shaughnessy is back for a record fourth appearance on Panic with Friends! And this time he’s slightly panicked by not being panicked. I convinced him to put on some slippers and start showing up for work.

On this episode of Panic with Friends, I speak with my good friend Chris Temple. Chris is the co-founder and director of Optimist, an award winning documentary and impact studio. In today’s episode we dive deep into his latest film called ‘This is not Financial Advice’ which I took on the role of being an Executive Producer.  In ‘This is not Financial Advice’, Glauber “Pro” Contessoto - an immigrant working multiple jobs and living in a 220-square–foot apartment - gambles his life savings on a joke cryptocurrency. Two months later, he became “The Dogecoin Millionaire” and a hero to his growing YouTube following. It’s easy to get rich online. But as Pro will soon discover, it’s even easier to lose it all. Amateur investors like Pro must navigate a landscape that’s rife with scams, bad advice, and FOMO. This is not Financial Advice exposes the startling risks and rewards of today’s market through expert commentary and the anxiety-inducing stories of real people trying to make millions.

As I mentioned when I covered how I built Wallstrip, I’m doing more origin stories over the next year. I’m covering my own projects as well as those of the ten or fifteen people from the companies I’ve loved and the products I’ve used in Web 2. There were mostly good exits, but there were also a few that we learned from.  In today’s episode I’m back in the hot seat covering the lessons learned from building Stocktwits in a Web 2 world. Knut and Riley join me as we talk about what worked back then, and what it will take to succeed building a company moving forward.  This is a very different era. Back then money was the game in a zero interest rate world. Today I think it’s more about the craft, and less about money. Do you know who your customer is? What are your margins? How are you going to make money, and how are you going to get your users? If founders and investors aren’t asking those questions today, they could be looking at massive losses down the road. I hope this helps and maybe gives you a peak at what might be coming around the corner as AI seems to be eating the world right now. Enjoy!

No, you haven’t entered the Twilight Zone. Yes, I’m the host of Panic with Friends, but in today’s special episode, I’m the guest. My producer Knut Jensen has turned the tables and put me in the hot seat. With so many questions about how and why I started Wallstrip, I felt it was time to lay it all out. And hopefully this answers a lot of those questions. We cover the good, the bad, and the funny times building my first internet company – and how those lessons carried over when I started Stocktwits – lessons like finding the right mentor and having domain experience around an idea,  and the three key ingredients: product, team and timing. It’s a different spin on Panic with Friends where we’re going back and telling these types of stories with our best founders, so you’ll be seeing more episodes like this in the future. And of course, the big question on Wallstrip, would I do it again? You’ll have to listen to find out!

When Knut and I started Panic with Friends at the beginning of the pandemic, it was just that – panicking with a few friends on what was happening in the market. I don’t think either of us knew how successful the podcast would become over three years later. My good friend Jeff RIchards of GGV Capital made several appearances on the show in the early days, but we last had him on in January of 2022. In that episode, Jeff helped me frame the selloff and gave me a big picture view on the fundamentals versus where valuations were at the time. After a year or so where we were all just licking our wounds, I thought it was high time to get Jeff back on the show to get a handle on repositioning ourselves for what the future might look like.

Ben Hunt of Epsilon Theory is back on Panic for a record-breaking sixth time! He may be the smartest guy I know, which is why I keep having him on. He’s just an explainer – the way he explains things very easily – and I like complex things explained simply. Ben is a former Professor, a beekeeper, and a market lover. He’s the co-founder and CIO of Epsilon Theory, where he writes outstanding essays about narratives in the market – backed up by data. I wanted to catch up with him to weigh in on my themes for the next 10 years in an America that’s becoming what I call the Rich, Angry, Degenerate economy. There are a lot of narratives to talk about; Ben was unfortunately right on the one that was inflation. And we get into the latest narrative around the U.S. dollar. You’re really going to learn a lot. Enjoy!

My good friend and fishing buddy Lewis Johnson of Capitol Wealth Advisors is back on Panic with Friends for a fourth round, slowly catching up to our leader, Ben Hunt. Way back when Lewis was first on the show rates were zero going to negative. When he was last here in November of 2022, we touched on the Madoff Moment that was FTX, and talked about how to position ourselves moving into 2023.  Lewis understands cycles. As we head into the summer with gold breaking out into all-time highs, I wanted to catch up with Lewis to discuss this potential breakout and how to play this cyclical trade.

There’s a massive unspoken epidemic going on globally in men’s health right now – low T-scores; and practically no one is talking about it. Lots of ‘youts’ are running around on an empty tank and don’t even know it. It’s an interesting and very important topic; and it's at the top of a lot of people’s minds, even if it’s a bit taboo to talk about. But it's something that matters to me, so I wanted to dive in deep and figure out what it all means. My guest today makes checking, monitoring, and boosting your t-score accessible and affordable. I’ve used the service myself (Ellen made me check mine), and as luck would have it, I'm also an indirect investor in Saad’s company. I’ve got a feeling this will be my most evergreen episode. Enjoy!

In this episode, I’m back in the hot seat again while my producer Knut grills me on what I’m calling my ‘errors of omission’. It’s part of my plan this year to cover various points in my career. Previously I've discussed details on Wallstrip and Stocktwits. Both of those episodes answered a lot of the questions I've been asked over the years.  But one of the questions I’m asked most often as an investor and entrepreneur is, “Howard, what’s your biggest mistake, your biggest miss?” I’ve been in this game for a while now – so it’s a splendid idea to finally share them in a format where everyone can learn from my mistakes.  I lay out my biggest errors, or what I would call errors of omission versus errors of commission, in the spirit of Bessemer Ventures “anti-portfolio” – that is some of the biggest ones they missed, like AirBnb, Coinbase, and eBay to name a few. I cover three of my biggest whiffs. It's part of the joy of investing, the irreverence, having the cojones to create a whole anti-portfolio and share it. You may have even heard of one or two of mine.

I couldn’t be more excited to have my good friend Downtown Josh Brown on the show! Josh and I go way back to the early, early days of Stocktwits. He’s built what’s probably the biggest financial media brand outside of CNBCq and has managed to thrive amidst the people who like to hate on people who are doing well on social media; so I’ve got lots and lots of questions about the finance industry and media. We dig a bit into AI, crypto, web2 survivors, and where we’re at with web3. You’re going to really enjoy our conversation.

On this week's episode of Panic with Friends, I speak with Rob Koyfman, the co-founder and CEO of Koyfin, a platform that offers a range of resources for investors, enabling them to conduct stock research and stay updated on market trends. He started his career at Goldman Sachs Investment Research in 2002, where he embarked on a proprietary trading role in London afterward. Subsequently, Rob held titles such as head of Macro and Thematic Trading Strategy at Citigroup and served as a Strategist at Caxton Associates, Lyxor Asset Management, and Tekne Capital. In 2016, Rob initiated the creation of Koyfin due to his dissatisfaction with the limited availability of analytical tools for investors lacking access to Bloomberg.

On this week's episode of Panic with Friends, I speak with Joe Gagnon. Joe is a seasoned adventurer, creator, and explorer, combining his entrepreneurial spirit with executive expertise as a COO/CEO for over two decades. Joe is currently the CEO of 1upHealth, a cloud-based data interoperability platform that is revolutionizing healthcare outcomes. He is also an active blogger and co-host of the Chasing Tomorrow podcast. Previously, he held the CEO position at Sparkcentral, specializing in digital messaging solutions for customer care, and co-founded Performance Tea, a plant-based beverage company aimed at unlocking human potential. Joe's impressive career includes being the President of Penn Foster, a prominent online school, and the President of e-Dialog, an influential SaaS multi-channel digital marketing organization under eBay's ownership. As the CEO of Exit41, an innovative restaurant solutions company, and the Global Leader of IBM's Retail Industry business, he demonstrated his industry acumen. Joe started his career at Mainspring, a strategy consulting firm, where he was COO until the company was acquired by IBM. He also spent a decade at Ernst & Young as a consultant implementing emerging technologies. In his free time, Joe is an accomplished endurance athlete having completed six Ironman triathlons and over 85 marathons.

On this week's episode of Panic with Friends I speak with Doug Hecht, the CEO and Co-founder of Walla, a modern studio management platform created to transform and simplify studio operations. Doug's entrepreneurial journey began as the CEO of Lymber, a wellness app start-up that was later acquired by MINDBODY. Following the acquisition, he took on the role of SVP of Consumer Products at MINDBODY, where he played a crucial role in developing the app and spearheading other digital initiatives. Doug is committed to nurturing the start-up community in San Diego. He serves as a capital partner for Seed San Diego, dedicating his time and resources to building a better environment for start-ups. With a stake in over 30 start-ups, Doug actively participates as an angel investor in his spare time.

On today’s episode of Panic with Friends, I speak to my good friend Jenny Fielding. After attending law school, Jenny found herself falling in love with technology first as a founder of two mobile companies and now as an early stage investor. She then spent nearly 8 years as the Managing Director at Techstars. After her time there, she set out to start her own global venture fund, Everywhere Ventures (formerly The Fund) where she is the Managing Partner. Throughout her career, she has invested in 300+ tech-enabled companies and has worked with hundreds of founders. Hopefully you enjoy this conversation as much as I did!

On this week of Panic with Friends, I speak with Brooker Belcourt, founder of Covey. Brooker is a driven founder with extensive experience in the investment industry and a deep understanding of the needs he is looking to address. Prior to founding Covey, he previously worked at Citadel, Coatue Management, as well as Goldman Sachs, where he acquired valuable knowledge of the alpha capture and asset management industries. With limited resources and a lean team, Brooker has made significant strides in product development, which has led to early traction with both investment firms and individual investors alike. The Covey Legends co-trading app is now available for download on all platforms. Click the link below to check it out.

On this week's episode of Panic with Friends I speak with Roy Rubin. Roy is the co-founder and former CEO of Magento, a digital commerce solution for merchants and brands. eBay acquired a 49 percent stake in Magento in February, 2011; followed by the acquisition of the entire company in June, 2011. Roy stayed on as the CEO of Magento until 2013. Later in February of 2021, Roy started R-Squared Ventures with his partner Roy Erez (who I previously had on the podcast) after having made countless angel investments.

On this episode of the Panic with Friends, I talk to Jud Valeski, co-founder and former CEO of Gnip. Jud started his career at Netscape right out of college, where he worked for three years. He then went on to AOL, where he worked for nearly seven years. Later, in 2006, in the early days of MySpace, Jud had the revelation that social media was going to be the next big thing. He believed that somewhere amidst the noise, there would be commercial value. Enter Gnip. Two years later, in 2008, Jud founded Gnip, which was later acquired by Twitter in 2014. Post acquisition Jud went to Honey where he spent five years as a General Manager. It’s not everyday you get to talk to someone who has had back to back career home runs like Jud, so sit back and enjoy!

I’m always excited to interview a portfolio company founder on Panic with Friends, so I’m doubly excited to have Sharona Cohen, co-founder (her husband Nave is the other co-founder who I previously had on the pod) of DSTNC (Social Leverage Fund IV) on today’s show. The company is at the forefront of fashion and technology, or as I like to call it, ‘fashology’ – for the modern cyclist. DSNTC (pronounced 'distance' - vowels removed) is a first of its kind global marketplace and content destination, curating the largest selection of high-end brands and performance products from around the world. Nave and Sharona have done a phenomenal job over the last eight months or so, and with the site launched and a seed round raised, this is the right time to check in and hear about the company. With DSTNC I finally get to dig into 'fashology', something I’ve been talking about since the Oakley days. I’ve been able to invest and help build a Lifestyle brand from the ground up. Sharona has an eye for fashion, culture, brands and what people will buy. The curation is excellent. The KEY business hack here is the logistics of shipping returns. DSTNC can locally take returns for all these foreign brands and customers do not have to ship items that do not fit (a large problem with cycling gear sizes) back overseas at a high cost. I hope you enjoy our conversation as much as I did.

I’m excited to finally have my friend Joe McCann on the show. He’s the founder of Asymmetric, a modern-day crypto fund. Joe’s probably one of the smartest people I follow on Twitter and I usually get caught up reading his monthly letters. I wanted to have Joe on the show and get his thoughts on navigating the crypto space. Nowadays most people have disdain for crypto, but the data will not go away. There’s still a lot of people with significant digital assets, including myself. And at Social Leverage, we’ve invested in Lumida (Fund IV) – a digital asset first wealth manager. Remember, none of our conversation is investing advice, but crypto is a space you shouldn’t ignore while the hype is centered on generative AI.

When Knut and I started Panic with Friends at the beginning of the pandemic, it was just that – panicking with a few friends on what was happening in the market. I don’t think either of us knew how successful the podcast would become over three years later. My good friend Jeff RIchards of GGV Capital made several appearances on the show in the early days, but we last had him on in January of 2022. In that episode, Jeff helped me frame the selloff and gave me a big picture view on the fundamentals versus where valuations were at the time. After a year or so where we were all just licking our wounds, I thought it was high time to get Jeff back on the show to get a handle on repositioning ourselves for what the future might look like.

Ben Hunt of Epsilon Theory is back on Panic for a record-breaking sixth time! He may be the smartest guy I know, which is why I keep having him on. He’s just an explainer – the way he explains things very easily – and I like complex things explained simply. Ben is a former Professor, a beekeeper, and a market lover. He’s the co-founder and CIO of Epsilon Theory, where he writes outstanding essays about narratives in the market – backed up by data. I wanted to catch up with him to weigh in on my themes for the next 10 years in an America that’s becoming what I call the Rich, Angry, Degenerate economy. There are a lot of narratives to talk about; Ben was unfortunately right on the one that was inflation. And we get into the latest narrative around the U.S. dollar. You’re really going to learn a lot. Enjoy!

I’m excited to have another one of our portfolio company founders on this episode of Panic. Oana is the founder and CEO of Sequel.io, which allows organizations of all sizes to host live events and webinars right on their own website. It’s a no-code solution that lets marketers turn live video into leads by embedding events on their own websites. Coming from a marketing background at HP, Oana launched Sequel.io shortly before the pandemic to solve her own marketing pain points. And she’s building quite a juggernaut in the live-video space. Part of the fun in being a seed investor is using many of the products in the portfolio early. We’ve used Sequel.io’s solutions at our first post-pandemic Palooza in 2022, and again at Palooza in 2023. As many long-term subscribers know, I’m also using the platform from our portfolio company beehiiv for my daily blog posts. You might say I’m ‘eating our own cooking’ – it’s all part of investing for profit and joy. You’ll learn a lot from this episode. Enjoy!

My good friend and fishing buddy Lewis Johnson of Capitol Wealth Advisors is back on Panic with Friends for a fourth round, slowly catching up to our leader, Ben Hunt. Way back when Lewis was first on the show rates were zero going to negative. When he was last here in November of 2022, we touched on the Madoff Moment that was FTX, and talked about how to position ourselves moving into 2023.  Lewis understands cycles. As we head into the summer with gold breaking out into all-time highs, I wanted to catch up with Lewis to discuss this potential breakout and how to play this cyclical trade.

I’m happy to have my good friend Paul Tran of Manscaped back on Panic with Friends. He’s an incredible founder, entrepreneur, product person, and marketer. He continues to build a global omnichannel brand at an epic pace. We’re really proud seed investors in our Social Leverage Fund III.  I’m constantly writing about the urgency and importance of marketing, and Paul and his team are world-class. It's not so easy to just go online and do marketing nowadays. You have to have a lot of skills across multiple sectors. The Manscaped team continues to be creative and test new media formats over and over again with great success. Every entrepreneur can learn something by listening to Paul. His insights on building an enduring brand and how he thinks about growth are timeless. Enjoy the episode. You’ll learn a lot.  BTW, visit Manscaped and use the promo code ‘Howie’ for 20 percent off your first order.