Immad Akhund is an investor and the CEO & co-founder of Mercury.
Immad Akhund (@immad), founder and CEO of Mercury, and Jude Gomila (@judegomila), founder and CEO of Golden, join Erik on this episode.They discuss:- What’s top of mind for them with respect to COVID-19 and the response.- Decentralized versus centralized approaches to the problem.- Which underlying problems in American society this has brought to the surface.- Which trends are going to accelerate because of the pandemic.- Common mistakes that founders make when fundraising.- Why it’s important to have balancing forces for certain attributes of the culture at your company.- Thoughts on futarchy.- What they disagree on.Applications for the summer vintage of our Network Catalyst accelerator are now open! The early decision deadline is May 15th and final deadline is June 5th. Learn more and apply today at www.villageglobal.vc/network-catalyst.Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.
Immad Akhund is the co-founder and CEO of Mercury which is a bank for startups, engineered in Silicon Valley for tech companies. The company has raised over $25 million from investors like Andreessen Horowitz and Charles River Ventures. Prior to this, he cofounded Heyzap which he sold for $45 million. 
Immad Akhund is my next guest, who is the founder and CEO of Mercury. Immad is a 4x founder, was a part-time YC partner, and is an investor in over 100 tech startups. Mercury is a bank for startups, simple as that. As a customer myself, I am so excited with what Mercury is building, as I have had horrid experiences with other banks in the past. In this episode, we talk about:What is Mercury?Why did he start Mercury?What is the typical banking experience for a startup likeIs working 12 hours a day the right decision?Is it easier starting a startup now than as a first time founder?What areas interest Immad as an investor?What is Immad’s big vision for Mercury?What tips would he have for anyone just getting started in business building.Learn more about Immad on Twitter here.Thanks to our sponsor, Crash. Crash is the most effective and fun way to find a job. On the job hunt? Throw out your resume, fill out your Crash profile, and launch your job hunt on Crash. Startups, if you’re looking to hire high aptitude employees, Crash should be your first stop. Thanks to Crash for being a sponsor! Get on the email list at forwardthinking.substack.com
Immad Akhund is the Founder & CEO @ Mercury, the startup that makes bank accounts that help tech companies scale. To date, Immad has raised funding from some of the best in the business including a16z and CRV on the fund side and then individuals including Elad Gil, Airtable's Howie Liu, Plaid's Zach Perret, Naval Ravikant, Justin Kan and OpenDoor's Eric Wu. Prior to founding Mercury, Immad held enjoyed numerous different roles including being a part-time partner at Y Combinator and then also founding HeyZap, building developer tools for mobile game developers, ultimately acquired in 2016. In Today’s Episode You Will Learn: 1.) How Immad made his way from studying in the UK to being a YC Partner in 2017 and building one of the valley's hottest startups today in the form of Mercury? 2.) What does Immad want to do differently this time around with Mercury vs his time with HeyZap? What 1-2 mistakes that he made the first time round is Immad looking to avoid? How does being a serial founder impact one's ability to acquire the best talent? What does Immad think is harder the second time around? How has becoming a parent changed the way that Immad thinks about founding and building companies? 3.) How does Immad approach the process of picking the idea? What was the specific process with Mercury, step by step? Why does Immad believe it is an advantage to not have a background or prior career in the space you are looking to innovate in? What advice does Immad have for founders looking to move into highly regulated industries? 4.) How does Immad approach and assess the element of competition? What is the right way for founders to present competition when pitching to investors? Why is a 2x2 matrix the wrong approach? What does Immad advise portfolio founders he has invested in with regards to competition and the landscape in front of them? 5.) What have been some of Immad's biggest learnings from making over 120 angel investments? How has angel investing specifically helped certain parts of how he thinks about operating and being a founder today? What advice does Immad give with regards to investor updates? What makes the best ones? What makes the worst? How often should they be? Items Mentioned In Today’s Show: Immad’s Fave Book: The Accidental Superpower: The Next Generation of American Preeminence and the Coming Global Disaster As always you can follow Harry, The Twenty Minute VC and Immad on Twitter here! Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.
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Creator Details

Birthdate
Apr 16th, 1984
Location
San Francisco de Cayrán, Huánuco, Peru
Episode Count
4
Podcast Count
4
Total Airtime
3 hours, 14 minutes
PCID
Podchaser Creator ID logo 570318