In this episode of Money Moves, the host is joined by Mitch Lee, Co-Founder and CEO of Arc Boats, along with Rob Ryan, to discuss their experiences with startups, product development, and the challenges of raising capital. Mitch reflects on his journey from Clinkle to Penny and now Arc Boats, sharing valuable insights on executing business ideas, navigating venture capital, and the importance of solid execution over hype.Topics Discussed in this Episode:- Early Fundraising and the Clinkle Experience: Mitch and Rob share their first experiences raising capital during their time at Clinkle, emphasizing the importance of social proof and storytelling in convincing investors like Peter Thiel to invest. - Penny: A Product-First Approach and Learning Curve: Mitch discusses his time at Penny, a personal finance app, where they focused on creating a product-driven company. He acknowledges the difficulties of monetizing and scaling Penny, which ultimately led to an acquisition by Credit Karma. - Execution-Driven Fundraising at Arc Boats: At Arc Boats, Mitch and his Co-Founder Ryan shifted their approach, focusing on aggressive execution and speed. Their background in hardware engineering, particularly from SpaceX, allowed them to build electric boats quickly, which impressed investors. - Challenges of Raising Capital in Different Market Environments: Mitch reflects on how the venture capital environment has changed from 2015 to 2021, especially as the market peaked and then hit a downturn. - Staying Focused Amid Hype Cycles: Mitch emphasizes the importance of focusing on execution rather than getting distracted by hype cycles like crypto and NFTs. Connect with Mitch Lee: <a href="https://www.linkedin.com/in/mitchjlee">https://www.linkedin.com/in/mitchjlee</a>Connect with Rob Ryan: <a href="https://www.linkedin.com/in/robtheryan/">https://www.linkedin.com/in/robtheryan/</a>Connect with host Neil Devani: <a href="https://www.linkedin.com/in/neildevani/">https://www.linkedin.com/in/neildevani/</a>For more information on Necessary Ventures, visit the website at: <a href="https://www.necessary.vc/">https://www.necessary.vc/</a>

In this episode of Money Moves, the host is joined by Mitch Lee, Co-Founder and CEO of Arc Boats, along with Rob Ryan, to discuss their experiences with startups, product development, and the challenges of raising capital. Mitch reflects on his journey from Clinkle to Penny and now Arc Boats, sharing valuable insights on executing business ideas, navigating venture capital, and the importance of solid execution over hype. Topics Discussed in this Episode: - Early Fundraising and the Clinkle E...

REPLAY - How Mitch Lee raised $100M+ to electrify watercraft, featuring Rob Ryan from Dynasty