Jan Faflik, a deep tech venture capitalist at Tensor Ventures, discussed his journey from a blue-collar background to a career in venture capital. He emphasized the importance of team, market, and technology in evaluating investment opportunities. Faflik highlighted the role of computational chemistry in drug design and the potential of quantum computing. He also discussed the impact of AI, particularly GPT-3, and the future of biotech, particularly in neurogenerative diseases. Faflik noted the importance of continuous learning and flexibility in the face of technological advancements. He also touched on the challenges and opportunities in the crypto space, emphasizing the need for user-friendly interfaces and regulatory engagement.
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Episode Highlights
Early Career and Venture Capital Journey
- Daryl Urbanski introduces Jan Faflik, a deep tech venture capitalist at Tensor Ventures, and asks about his background in venture capital.
- Jan Faflik shares that he comes from a working-class family and has always been interested in science and sci-fi.
- Jan Faflik started his career with internships in scientific institutes and labs from the age of 15, gaining early exposure to computational chemistry and coding.
- He describes his first internship in a lab in his hometown, where he learned practical lab skills and gained valuable experience.
Exploring Computational Chemistry and Quantum Computing
- Jan Faflik continued his education and interned at a larger lab in Prague, where he worked on computational chemistry research and learned coding in Python and bash.
- Daryl Urbanski inquires about the accuracy of computational chemistry simulations, and Jan explains the probabilistic nature of quantum mechanics.
- Jan Faflik discusses the density functional theory used in computational chemistry and its complexities.
- They delve into the concept of quantum computing, its probabilistic nature, and the multiverse theory, with Jan Faflik providing an analogy about quantum computers calculating solutions in different universes.
Transition to Business and Biotech Venture Capital
- Jan Faflik shares his transition from science to business by working in a family office's biotech venture capital team.
- He worked as an intern and later as a part-time investment analyst, investing in biotech startups and analyzing public biotech positions.
- Daryl Urbanski humorously asks Jan about his chances of living to be 300, and Yano humorously responds with speculation.
- They discuss the impact of small changes in technology and the significance of major breakthroughs like GPT-3 in AI.
Impact of AI and Quantum Computing on Business
- Jan Faflik explains that while AI has had significant incremental progress, quantum computing is still in its early stages and faces challenges in large-scale applications.
- He highlights the importance of biotech, mentioning CRISPR as a major breakthrough and the long timeline for clinical applications.
- Daryl Urbanski asks about the skills and behaviors needed for small business owners to adapt to technological changes, and Jan emphasizes the importance of flexibility and continuous learning.
- They discuss the potential impact of AI and automation on job markets and the need for general business skills.
Exciting Technological Developments and Personal Insights
- Jan Faflik expresses excitement about various technological advancements, including digital human clones and organ engineering.
- They discuss the ethical and regulatory challenges of human cloning and the potential for growing organs outside the human body.
- Jan Faflik shares his interest in neurogenerative diseases and the significant economic impact of diseases like Alzheimer's.
- They touch on the potential of biotech startups in solving neurogenerative diseases and the importance of understanding the smallest viable market for a company.
Crypto and Its Future
- Daryl Urbanski asks about the impact of crypto on financial systems and banking cartels, and Yano explains the dual nature of crypto, with Bitcoin maximalists and tech-focused crypto enthusiasts.
- Jan Faflik believes that tech-focused crypto will work more with regulators to achieve mass adoption.
- They discuss the volatility of the crypto market and the potential for stable coins to have real-world applications.
- Jan advises people interested in crypto to get involved in local communities and events to learn more.
Investment Strategies and Due Diligence
- Jan Faflik explains Tensor Ventures' investment strategy, focusing on pre-seed and seed-stage startups with the potential for 100x growth.
- He emphasizes the importance of the team, market, and technology in evaluating investment opportunities.
- Jan describes the due diligence process, which includes understanding the team's background, the market potential, and the scientific feasibility of the technology.
- They discuss the competitive nature of the investment landscape and the need for quick decision-making.
Support and Development for Startups
- Jan talks about the support Tensor Ventures provides to startups, including business development introductions and sales strategy assistance.
- He mentions the importance of having a strong team that can pivot and adapt to changing circumstances.
- They discuss the role of intellectual property in providing downside protection and the potential for licensing technology.
- Jan highlights the importance of continuous learning and staying healthy as key factors for success in the rapidly changing technological landscape.
Final Thoughts and Contact Information
- Daryl Urbanski asks if there are any additional topics they should have covered, and Yano feels they have discussed most relevant topics.
- Jan Faflik provides his contact information, recommending LinkedIn or Twitter for those interested in reaching out with potential investment opportunities.
- Daryl Urbanski thanks Jan for sharing his insights and experiences, and they conclude the conversation on a positive note.
