23. From Cold Emails to Hot Commodities
This week's incredible guest is Ashley Crowder, Founder and CEO of VNTANA. VNTANA democratizes the use of 3D models to create AR/VR experiences using patented technology to standardize shape files of all kinds, opening up the world of 3D to many different industries. From partnerships with luxury fashion brands to collaborations with Meta (Facebook), VNTANA is doing it all. Ashley tells me about her journey into 3D modeling, her love of STEM, and the time she cold emailed Mark Cuban for investment.
Episode Resources:
https://www.reuters.com/technology/3d-ads-come-facebook-instagram-step-toward-metaverse-2022-03-24/
https://www.voguebusiness.com/companies/women-still-struggle-to-access-vc-funds-what-needs-to-change
Transcript
Welcome to the meadow woman podcast. We address the
Unknown:issues, opportunities and challenges facing women in the
Unknown:development of the metaverse the biggest revolution since the
Unknown:internet itself. Every week we bring you conversations with top
Unknown:female talent and business executives operating in the
Unknown:gaming and crypto industries. Here's your host Lindsey the
Unknown:boss POS, the meta woman podcast starts now.
Lindsay Poss:Hello, and welcome to the meta woman podcast part
Lindsay Poss:of the holodeck media Podcast Network. I'm your host Lindsay
Lindsay Poss:The Boss Boss and from struggle to success. We're covering it
Lindsay Poss:all. For returning listeners. Thank you so much for supporting
Lindsay Poss:the show. Thank you for sending me feedback. Messages truly
Lindsay Poss:warmed my heart. And for all the new listeners. Welcome. I hope
Lindsay Poss:you enjoy and I hope you'll come back. This week's guest is going
Lindsay Poss:to be so much fun because we're going to do a deep dive into the
Lindsay Poss:metaverse, which is something that I've touched on but I
Lindsay Poss:haven't haven't really like fully gotten into yet. So I'm
Lindsay Poss:excited for that. For all of you that have been following the
Lindsay Poss:evolution of the show. You know that I've started with gaming
Lindsay Poss:and wound up in this crazy crossover between gaming merging
Lindsay Poss:tech Metaverse, all that stuff. And I'm just excited to be able
Lindsay Poss:to do more of the metaverse side this week. It's gonna be fun. So
Lindsay Poss:without further ado, I want to introduce Ashley Crowder, CEO
Lindsay Poss:and co founder of Ventana, Ashley, I would love for you to
Lindsay Poss:introduce yourself and Fontana because I think you'll just
Lindsay Poss:explain it better and do it more justice than I can.
Unknown:Awesome. Yeah, it's great to be here. I'm Ashley
Unknown:Crowder, I'm the co founder and CEO of Ventana. We are a 3d
Unknown:commerce platform that makes it incredibly easy to manage and
Unknown:distribute 3d and augmented reality at scale. We work with a
Unknown:lot of fashion brands. So VF Corp Hugo Boss, diesel, helping
Unknown:streamline 3d from design and manufacturing, helping people
Unknown:with b2b sales to replace physical samples and create
Unknown:amazing e commerce experiences and social media. And then of
Unknown:course, you can also use that same 3d model in the metaverse
Unknown:or different virtual worlds. So yeah,
Lindsay Poss:because that was so cool. And I know that we're
Lindsay Poss:going to be talking about it more. But let's kind of start at
Lindsay Poss:the beginning because Ventana has been working in the 3d slash
Lindsay Poss:AR slash VR space for almost 10 years, which is super exciting.
Lindsay Poss:I know you're coming up on your anniversary here. And obviously,
Lindsay Poss:the emerging tech landscape looks a lot different than what
Lindsay Poss:it did 10 years ago. And so I would love to hear about the
Lindsay Poss:evolution of the company, how you moved from kind of more
Lindsay Poss:entertainment based services to more platform based services,
Lindsay Poss:how you evolved into the software as a service company
Lindsay Poss:that you are today.
Unknown:Yeah, so my background is engineering, I did
Unknown:engineering at USC, got my Bachelor's and Master's there,
Unknown:you know, always loved building things. And the USC engineering
Unknown:school has a partnership with a military called ICT, where they
Unknown:funded research and 3d AR VR graphics and tech. And so that's
Unknown:where I first got exposed to all this stuff, like, almost 15
Unknown:years ago now, which is crazy. And I was like, this is gonna
Unknown:change the world. This is awesome. But you know, there
Unknown:were no career paths for that back then. So I ended up, you
Unknown:know, founding Montana. And it was really around how do we
Unknown:create these, you know, immersive experiences to engage
Unknown:consumers. And at the time, web didn't support 3d phones could
Unknown:do ar so we did location based mixed reality experiences for
Unknown:brands like Adidas, Nike, Lexus, and it was usually in retail
Unknown:stores or at sports stadiums or events like South by Southwest.
Unknown:And we built a profitable company doing that. But no one
Unknown:ever had the right 3d files to create this type of content. So
Unknown:we were creating interactive 3d content in game engines like
Unknown:Unity and Unreal, to play on our hardware at these different
Unknown:events. And we would get, just like these manufacturing design
Unknown:files from these brands that were way too big and not in the
Unknown:right format and required all this manual work. So we started
Unknown:writing software to help automate this. So that is really
Unknown:what led us to where we are today. So in 2019, we said you
Unknown:know what, we wrote all this software to make it easy to
Unknown:manage and optimize 3d models. Now, every web browser can
Unknown:support 3d and phone everyone has a phone that can do some
Unknown:pretty decent augmented reality. So we decided to raise around a
Unknown:funding and launch our software as a standalone service. We
Unknown:launched it February 2020, which is very good timing to then get
Unknown:out of events. So that was like crazy. And so you know, the plan
Unknown:had been to like have our events business kind of continue, but
Unknown:open up this new division and COVID obviously, we're like, you
Unknown:know what, I'm glad that we wrote All this software and have
Unknown:this product and we are 100% focus on our software now. And
Unknown:yeah, and it really grew from there because obviously with
Unknown:COVID, no one could get physical samples from from China, where,
Unknown:you know, 99%, German manufactured, no one was going
Unknown:into retail stores, people really started adopting 3d so
Unknown:much faster, because there's really no option. So even people
Unknown:who were afraid of new tech, we're kind of forced into it.
Unknown:And then the benefits have just been so huge from, you know, 10s
Unknown:of 1000s of dollars of cost savings to reducing carbon
Unknown:footprint by not making samples, increasing speed to market, you
Unknown:know, increased conversion rate because of better consumer
Unknown:experience online. So COVID force people to try it, and then
Unknown:the results spoke for themselves for them to keep going. So
Lindsay Poss:I want to pick apart this sample portion, just
Lindsay Poss:because the that interests me a lot. I mean, I'm by no means a
Lindsay Poss:fashion person, we recently had the Met Gala. And I love that,
Lindsay Poss:but I'm not you know, I am not my sister in law actually has a
Lindsay Poss:degree in fashion design and merchandising. So I would love
Lindsay Poss:to know more about what the sample process previously was,
Lindsay Poss:and how you've used Ventana to, like you said, reduce the carbon
Lindsay Poss:footprint of that process. That's fascinating. So can you
Lindsay Poss:describe a little bit more from start to finish? Yeah, so
Unknown:we typically work with brands who design and
Unknown:manufacture their products. So whether that is you know, Hugo
Unknown:Boss or diesel, so like they design they manufacture, they
Unknown:might sell direct to consumer, but they also sell within retail
Unknown:stores. And so the typical process is you design, you make
Unknown:a sample, you ship that sample out to your various teams to
Unknown:review, you make changes, you go make another sample, you come
Unknown:back, you know, to finalize that maybe and then maybe the design
Unknown:is final. And then you order more samples, because they need
Unknown:to go to Nordstrom and Bloomingdale's showrooms for
Unknown:people to view and purchase. So it was this very time consuming.
Unknown:physical product process, right. Whereas once COVID hit, you
Unknown:know, all the factories in Asia were shut down. And logistics
Unknown:are still a problem right now. I mean, I moved into this new
Unknown:house, I have no furniture because I ordered furniture in
Unknown:November, and it's still not here in May. So
Lindsay Poss:just as an interlude, there's a good tweet
Lindsay Poss:that said, due to supply chain issues, I'm fully out of
Lindsay Poss:serotonin
Unknown:in this empty my room, but that's why. So, you know,
Unknown:it's still a problem. And so people, you know, we're like,
Unknown:why are we doing this physically, we'd have a true
Unknown:interactive 3d model, you want to make changes, you make
Unknown:changes instantly, and then you upload and share that link. And
Unknown:you can collaborate in real time on the 3d. So we had clients who
Unknown:had a six month sales cycle with where they were selling these
Unknown:moved down to three weeks, with 3d. And then on average, you
Unknown:know, making one shirt is about five kilograms of carbon of what
Unknown:it takes to make that one shirt. We had a client, they moved
Unknown:their whole collection to 3d. So they had almost 900 pieces that
Unknown:they used to make samples of that now is purely 3d, and
Unknown:they're using Ventana just sell to Nordstroms Bloomingdale's
Unknown:using 3d instead of physical. So 900 times five kilograms is
Unknown:like, over 4.4 tons of carbon saved. So that's equivalent of
Unknown:driving like 130,000 miles in a gasoline car, which is amazing.
Unknown:And then on top of that, like samples cost money samples, on
Unknown:average can be $100 per creation. So you know, 100 times
Unknown:900, you're saving $90,000 per season on not making those
Unknown:samples. So it's better for the environment. It's saving you
Unknown:money. It's increasing your speed to market. There's no
Unknown:reason you should not be using 3d.
Lindsay Poss:So cool. I wonder so that's, that is like you
Lindsay Poss:said, you're a b2b SaaS company to I know there has been a b2c
Lindsay Poss:Particularly I remember reading about how Snapchat was allowing
Lindsay Poss:you to try on clothes in basically, I think it was more
Lindsay Poss:so augmented reality using your own camera to sort of put
Lindsay Poss:clothes on your body. Do you see yourself moving into a b2c space
Lindsay Poss:as I mean, you just you've just reached two years, so I'm not a
Lindsay Poss:that would be the pinnacle. But yeah, what does that look like
Lindsay Poss:for you? Yeah, so
Unknown:our client ants are always going to be businesses,
Unknown:but they are creating these experiences for consumers as
Unknown:well. So that same 3d model they use for that, to sell to
Unknown:Nordstroms. And that b2b sale, they can also put on their
Unknown:website with with our software, so they can, they can have it on
Unknown:their e commerce sites, you can see it interacts in 3d, gonna
Unknown:hold up your phone and place it in your environment with
Unknown:augmented reality, we are working with the social media
Unknown:platforms. So whether it's Snapchat or meta to do to put a
Unknown:3d model into those platforms, it has to meet their
Unknown:specifications. And so this is again coming into what ventanas
Unknown:real secret sauces and the core value we provide is we can take
Unknown:these big manufacturing files and instantly convert them to
Unknown:meet these various specs. So you, you know, you can take that
Unknown:manufacturing file, upload to Ventana, and then you can
Unknown:instantly publish to Facebook or Instagram or to Snapchat. So
Unknown:we're just saving people a bunch of time there. Whereas before,
Unknown:they'd have to do manual work. Snapchats definitely the
Unknown:furthest along including Tryon, it's still not perfect, but
Unknown:they're definitely like, far out ahead. They've been acquiring a
Unknown:lot of companies in this space. Super excited about everything
Unknown:they're building. It's just not quite there yet. So, but it's
Unknown:coming.
Lindsay Poss:It's so cool, though. And I want to talk more
Lindsay Poss:about the partnership that you announced with meta. K Facebook,
Lindsay Poss:which I also always make this joke, but I promise this podcast
Lindsay Poss:was announced before they changed their name. It's about a
Lindsay Poss:whole thing. But can you tell me about that partnership? And I
Lindsay Poss:know you talked a little bit about snap but just how you see
Lindsay Poss:Ventana working with social media companies. And that's a
Lindsay Poss:much different client than say diesel Jones or Hugo Boss.
Lindsay Poss:Right. So So what is it?
Unknown:Usual diesel is the is our client who's using us for
Unknown:b2b sales, their e commerce site and publishing on meta? Does
Unknown:that make sense? So like, what you're doing? Yeah, so we're
Unknown:enabling our brand. So the partnership, we set up with a
Unknown:meta kind of same thing like they were they wanted to launch
Unknown:3d and air ads. In order to do that they needed 3d models that
Unknown:met certain standards. So just kind of take a step back, like a
Unknown:typical manufacturing design file is 200 megabytes in size or
Unknown:bigger. If you want to use 3d on Facebook, it needs to be under
Unknown:six megabytes in size. So that's like 5% of the original size. So
Unknown:they were struggling with the fact that they were asking
Unknown:brands to manually fix all these files, which they're like, you
Unknown:know, Hugo Boss launches 40,000 products a year, it's like
Lindsay Poss:writing a file for each one.
Unknown:So with our integration, you can upload
Unknown:these designs to Ventana, we instantly get them to meet
Unknown:Facebook and Instagram specs. And then you can publish it's a
Unknown:click of a button publish a 3d and AR ad unit. And so it's
Unknown:fully automated. So your social media manager can log in to
Unknown:Facebook or Instagram and create an ad the same way they create a
Unknown:2d ad today, because we're packaging up that 3d model and
Unknown:3d AR ad unit for you. So you don't have to know anything
Unknown:about 3d, which is great. Right? That's
Lindsay Poss:what I was going to say is I know that one of the
Lindsay Poss:key points of the product is that no coding is required,
Lindsay Poss:which is a little crazy to think about.
Unknown:Yeah, exactly. Like our whole mission is to democratize
Unknown:3d and make it easy. That's how we're going to see more
Unknown:adoption. Because we know 3d has huge benefits. It's a better
Unknown:experience, you can increase conversion rates, save money,
Unknown:all the things we've been talking about the barrier has
Unknown:really been it's difficult and time consuming and I don't have
Unknown:the right staff you know, that's what we're trying to fix.
Lindsay Poss:So cool. What kind of files get uploaded to turn
Lindsay Poss:into 3d ads? I'm trying to get technical brains trying to catch
Lindsay Poss:up with what you're saying. Yeah, so
Unknown:like just like the car industry designs and AutoCAD
Unknown:programs in 3d fashion has their 3d design programs so for
Unknown:apparel, it's it's browse wearing clothes are typically
Unknown:the apparel 3d design programs for footwear, they're generally
Unknown:designing in KeyShot or Moto and so you know, there's all these
Unknown:different 3d design programs which are great for design and
Unknown:manufacturing. But again, the files too big and not in the
Unknown:right format. So Fontana has plugins to a lot of these
Unknown:software's so designers can work the way they work today and then
Unknown:just upload directly and we do the rest for you so you
Unknown:instantly get this you know web viewer you can embed on your
Unknown:website. You To publish to meta, or wherever else that you want.
Unknown:Okay, that makes
Lindsay Poss:a lot more sense. And yes, I have worked with
Lindsay Poss:AutoCAD. And yeah, those files are a nightmare, basically. Can
Lindsay Poss:you do with the metaverse coming in companies like yours, that
Lindsay Poss:are leading the charge in terms of making these experience
Lindsay Poss:mainstream? Can you just tell me what excites you about kind of
Lindsay Poss:staying at the forefront of future tech? And what made you
Lindsay Poss:passionate, I mean, from 15 years ago, as a student at USC,
Lindsay Poss:all the way up until now, and adapting and pivoting and 2020,
Lindsay Poss:kind of in a major way, like what drives you to keep making
Lindsay Poss:these experiences available to people?
Unknown:Yeah, I mean, I just love the medium. I think, in
Unknown:general, I, you know, I love building things. I love math and
Unknown:sciences. Why did engineering but like I also like to be
Unknown:creative. And with the metaverse, it's this combination
Unknown:of engineering and art and creativity, that is so much fun
Unknown:for me. And I just think it has so much potential. You know, the
Unknown:metaverse, to me, it's just a spatial internet, or just going
Unknown:from the flat to the websites to like, it can now be interactive
Unknown:and 3d and spatial, whether that's still on my laptop
Unknown:browser and walking around a virtual space or fully putting
Unknown:on a headset. And you know, you know, immersing myself in VR.
Unknown:It's just so much fun. And you know, I'm part of a group we
Unknown:meet in VR on Wednesday nights. And it's really fun. And like,
Unknown:we were doing that pre pandemic, and then the, the pandemic, it
Unknown:was amazing, because I actually felt like I was seeing friends,
Unknown:you know, I just like love it and love everything about it.
Unknown:And I want to help make it faster to adopt for everyone.
Unknown:And step one to create any of these types of experiences is
Unknown:you need digital twins or 3d models of your products or items
Unknown:that can work within these different platforms. And so
Unknown:that's really what we're trying to solve for people. And then
Unknown:I'm excited to see all the amazing experiences that they
Unknown:create with them.
Lindsay Poss:What is your VR platform of choice that you meet
Lindsay Poss:people on? So I just use
Unknown:the Oculus, and that got it right over here.
Unknown:streaming of bucks is cheaper than an iPhone? You know, I
Unknown:think that's pretty amazing. True.
Lindsay Poss:I never thought about it that way. But yes.
Unknown:And then I personally love VR chat, because it's like
Unknown:weird and wild and everyone, like, you never know what world
Unknown:you're gonna go into. So that's my favorite. But, you know, with
Unknown:this group, it's a lot of industry people. And my friend,
Unknown:Christina Heller, the founder of Medisave. She started it years
Unknown:ago. And it was really like just to like, learn and explore. So
Unknown:like we would, when rec room first came out, we met in rec
Unknown:room, and like half the things didn't work. Like I could only
Unknown:walk backwards. For some reason there was a bug and really fun.
Unknown:We used it as this like fun social virtual meetup, but like
Unknown:to learn new technology and test out new platforms. So
Lindsay Poss:that's really cool. And how has it? I don't
Lindsay Poss:know exactly how to ask this question, because obviously, we
Lindsay Poss:know that we're way ahead of where we are 10 years from now,
Lindsay Poss:but I guess are Are we where you expect to be? Or do you think
Lindsay Poss:that like, what what do you think about the pace of growth,
Lindsay Poss:I guess is what I'm trying to get at? Are we growing? You
Lindsay Poss:know, if you think about 10 years ago, and where you
Lindsay Poss:started, or 15 years ago? Are we growing at the rate you
Lindsay Poss:expected? Or do you think like, we're kind of at the beginning
Lindsay Poss:of a really fast pickup now or? Like what what does that pace
Lindsay Poss:look like? For you? Who's someone who's been exploring in
Lindsay Poss:the metaverse for long?
Unknown:Yeah, I'd say you know, I obviously hoped it would the
Unknown:adoption would have been faster, but I will say that pandemic
Unknown:really sped things up. And on top of that, just the advent of
Unknown:NF T's
Lindsay Poss:so, you know, NF
Unknown:T's have proven people are willing to pay real money
Unknown:for digital goods, which you know, we talk with a lot of our,
Unknown:our clients of, hey, yes, you should use 3d and all these
Unknown:stages of your current process, but you could also be selling
Unknown:digital assets, which is a whole new revenue stream, because I
Unknown:want my avatar to look cool in fortnight or Roblox right. So I
Unknown:think I think the pandemic has has sped up a lot of that. But
Unknown:we're NF T's have also helped make it exciting. It's really
Unknown:democratizes the ownership so right now if I'm in Roblox and I
Unknown:you know, bye Nike hat. Well, I can only wear that 3d Nike hat
Unknown:and robots. I can't take it out of that game with NF T's. I own
Unknown:this 3d asset. And I can take that 3d file anywhere in the
Unknown:metaverse. I want. And that's what's so exciting about the web
Unknown:three platforms like decentraland and somnium space
Unknown:that are open, because any 3d objects I buy there I own and I
Unknown:can take it with me into these other virtual spaces. So I
Unknown:think, you know, it's a matter of time until, you know, these
Unknown:these walled gardens like fortnight and Robox open up to
Unknown:allow that.
Lindsay Poss:That just reminds me of when you go to friends
Lindsay Poss:houses when you were little to play with their toys, because
Lindsay Poss:you didn't have them. As if your parents actually bought you the
Lindsay Poss:toy and brought it home. It was yours forever. Yeah. Which is a
Lindsay Poss:silly, that's a very, like 90s Kid analogy right there. But
Lindsay Poss:that's exactly what we think of.
Unknown:And then the kids today like my friend's kid, she asked
Unknown:for her allowance and robots not in American dollars, because she
Unknown:just wants to buy things for her avatar in Roblox because that's
Unknown:where she meets her friends. Right. So like, this whole
Unknown:generation is growing up, comfortable and used to buying
Unknown:digital goods. And, you know, with digital currency,
Lindsay Poss:which is fascinating. That is a really
Lindsay Poss:big change. Yeah, I mean, definitely a big change. I know
Lindsay Poss:I was thinking about it, like I have Beyblades. Actually, I
Lindsay Poss:didn't have Beyblades I wanted Beyblades much different than
Lindsay Poss:robots. I want to pivot and shift gears a little bit because
Lindsay Poss:I do want to talk about what it's been like for you to build
Lindsay Poss:this company over 10 years as a female founder. We both I'm sure
Lindsay Poss:know that securing VC funding for women can be difficult to
Lindsay Poss:just kind of a different process. So just finished a
Lindsay Poss:great book called bro topia by Emily Chang all about Silicon
Lindsay Poss:Valley and the season stuff super fascinating. According to
Lindsay Poss:an article invoke Business Research has found that
Lindsay Poss:historically, less than 5% of VC funding has gone to women owned
Lindsay Poss:or women led businesses. In some cases, there is a backward
Lindsay Poss:shift. According to software and data provider PitchBook. This
Lindsay Poss:figure has shrank to 2.2% in 2021 Despite the creation of
Lindsay Poss:women's centric funds, such as female Founders Fund, which
Lindsay Poss:narrows women's shot at our small shot of funding, or just
Lindsay Poss:narrows it. So I would love to talk about your experience
Lindsay Poss:building your business because Ben Tonto has the backing of
Lindsay Poss:some heavy hitters from the partnership with metta and I
Lindsay Poss:know Mark Cuban and the formula former Oculus CEO Brendan Uribe
Lindsay Poss:hope I'm pronouncing arrived they arrived. Okay. ism is among
Lindsay Poss:you know, among many others have have backed Ventana, and we
Lindsay Poss:don't necessarily have to look fully through the lens of
Lindsay Poss:gender. But can you just walk me through what the growth and
Lindsay Poss:funding experience has been like for you? Yeah, look, I
Unknown:think no matter who you are funding, it's hard to start
Unknown:to grow a business but you need funding. And as the CEO, my job
Unknown:is to make sure we're bringing in the right partners and
Unknown:investors to grow the business. And it was something I had to
Unknown:learn. You know, I studied engineering and I wanted to
Unknown:start this company. I knew no one did not know anything about
Unknown:VC funding when I started, had to figure a lot of it out. And
Unknown:really started by just going to networking events and trying to
Unknown:learn and asking people to coffee. And, you know, Shimon
Unknown:Walsh was one of our very first backers. She's like a female
Unknown:partner at at a fund who's amazing, and has invested in
Unknown:some incredible companies like sweet green all the way to other
Unknown:tech companies. And having her as a mentor was so helpful to
Unknown:like learn the process. I would also say a really great book is
Unknown:venture deals. So it was written by a guy who, what he was an
Unknown:entrepreneur who grew, raised money, sold his company, and now
Unknown:he's a VC. So he writes it from kind of the entrepreneur and the
Unknown:VC perspective. I wish I had read that book before I raised
Unknown:any money a couple years ago, it just it's so helpful. And it's
Unknown:not that long. So read it, I suggest it. But so much of of
Unknown:raising money is it's about trust, right? It's showing, yes,
Unknown:I have I have this company with real Tech and a real business.
Unknown:And I'm going to take it from A to B, and this is the money I
Unknown:need to get there. And this is how I'm going to spend the
Unknown:money. And, you know, investors want to need to be able to trust
Unknown:that you're going to do that. Hey, that's what it comes down
Unknown:to. And I think part of the issue with wise Many women and
Unknown:minorities don't have as much funding is they just don't have
Unknown:those networks, right? Like I didn't know, anyone. I had to do
Unknown:tons of networking and reaching out and asking for introductions
Unknown:and building those relationships over time. To get to the point
Unknown:that said, I cold emailed Mark Cuban, and he responded and
Unknown:invested a couple of days later. So that was wild. And you know,
Unknown:I read an article about how he's investing in NF T's and the
Unknown:metaverse and I just was like, He's gonna love what we're
Unknown:doing. And so I just, like found his email and emailed him. So
Unknown:like, that can also happen. But yeah, so I think, you know, part
Unknown:of it is, and that's why it is good that we have these networks
Unknown:in organizations trying to help women and minorities meet more
Unknown:VCs. Again, because I just think it's a matter of, I think so
Unknown:much of it is not malicious. It's just like, who do you know,
Unknown:I've watched them build this before. I know they can do it.
Unknown:Oh, I've never met you before. So
Lindsay Poss:my one, yeah, there's definitely reasons why
Lindsay Poss:women and minorities don't have those networks built in right
Lindsay Poss:away. But there's also ways around that, which I think is
Lindsay Poss:good. So that's completely cold email MerKiVa. That's great. I'm
Lindsay Poss:a big proponent of that, as someone who used to work in
Lindsay Poss:communications, and I always had to email reporters and reporters
Lindsay Poss:are notorious for never responding, which makes sense,
Lindsay Poss:they get a billion emails, it's not a problem. But I remember I
Lindsay Poss:have like a 13 follow ups rule where I'll follow up 13 times
Lindsay Poss:and you can't take it personally, because everyone
Lindsay Poss:knows that everyone else is busy. You just kind of have to,
Lindsay Poss:like, Hey, it's me again. How's it going? I'm a big fan. I'm a
Lindsay Poss:multiple texter, multiple emailer. You gotta try to not be
Lindsay Poss:too pushy. But also, keep in mind that everyone else is busy
Lindsay Poss:and in their own world, in order to get into their world, you
Lindsay Poss:kind of have to make sure you're always top of mind. Some big fan
Lindsay Poss:of cold emails do, I wouldn't have thought to cold email, Mark
Lindsay Poss:Cuban, but you know,
Unknown:he's gonna, like, kill me, because all these people are
Unknown:going to email him now. But
Lindsay Poss:hopefully, he has a good army of, you know,
Lindsay Poss:executive assistants and whatnot to filter through and find the
Lindsay Poss:really cool opportunities, which I'm sure he does. And kind of on
Lindsay Poss:that note, there's, there's definitely a place for lodging
Lindsay Poss:complaints about this process. Thankful that social media has
Lindsay Poss:given many people a voice to express in justices that happen
Lindsay Poss:in Silicon Valley and in the venture funding world. But I
Lindsay Poss:would love to focus on some of the positive things you've had,
Lindsay Poss:in your experience getting funding, and potential solutions
Lindsay Poss:to make it a more inviting environment for women. So could
Lindsay Poss:you tell me what some of and I know, you've mentioned certain
Lindsay Poss:relationships, specifically, but what were some of the positive
Lindsay Poss:ways you were able to interact with potential VCs? And what are
Lindsay Poss:some of the ways you think the VC environment or just the
Lindsay Poss:funding process itself could improve? Yeah, I
Unknown:mean, I've had the benefit of some really great
Unknown:mentors, you know, another investors, Jamie Montgomery, the
Unknown:founder of March capital, I think I met him because I gave a
Unknown:pitch at USC that he was attending and spoke. And then
Unknown:he's done a lot for female founders, he has an event every
Unknown:year, he gives, like a certain number of female founders free
Unknown:tickets, and, you know, tries to help with that. I think just
Unknown:building those allies and mentors within your network is
Unknown:so helpful to give you advice and help make introductions. And
Unknown:then how to make it better. I mean, so much, there's like so
Unknown:much to do. Right. So I think, you know, funds can make sure
Unknown:that they're at least seeing a variety of deals, you know, if
Unknown:you're looking at your deal pipeline, and your deal pipeline
Unknown:is 90%. White man. Okay, what can you do to get more diverse
Unknown:founders in your deal pipeline, right? Like, if you're not even
Unknown:having the pipeline of the diverse deals, there's no way
Unknown:you're going to actually fund diverse deals, right? So whether
Unknown:that's partnering with a women or minority network or school or
Unknown:you know, there's a lot of different ways to do it. I think
Unknown:that could really, really help and then setting up frameworks
Unknown:for investing. So you know, so many and then the earlier the
Unknown:stage, that stage of your company, the more they're just
Unknown:investing in you, right? If you're Doing a seed round, you
Unknown:don't necessarily have revenue or a business to look at yet.
Unknown:It's a little it's like the beginning. But it's you like, do
Unknown:we trust that you can build this? And so that can get very
Unknown:subjective quickly, right. And so I think funds building
Unknown:frameworks of, of analysis of how they're evaluating founders
Unknown:and their companies, and keeping that consistent, will help also
Unknown:make it a more fair playing field, right across gender and
Unknown:ethnicity and everything else.
Lindsay Poss:It's yeah, all those studies of when you remove
Lindsay Poss:the name of a resume and who gets hired. Yeah, I essentially
Lindsay Poss:feel that same vibe from what you just said. But I do think
Lindsay Poss:that it's accurate. It's, it's, I mean, we live in a world where
Lindsay Poss:there's a lot of unconscious biases. And it's hard to even if
Lindsay Poss:you think you're a person who doesn't hold them in some way,
Lindsay Poss:shape, or form you probably do so I can see what you're saying
Lindsay Poss:and trying to make that process more consistent to limit the
Lindsay Poss:impact of those at least is one way of getting different people
Lindsay Poss:in the room. So that does make sense to me. Um, and switching
Lindsay Poss:over to you for a second because we've talked all about Ventana
Lindsay Poss:we've talked all about Vc, Vc funding and what it's like to be
Lindsay Poss:a female founder. But I want to know about you know, you and how
Lindsay Poss:you got to where you are. I know that you mentioned that you
Lindsay Poss:started engineering at USC. But it's it's pretty, you know, it
Lindsay Poss:takes a lot of gumption to be run a tech and specifically
Lindsay Poss:Metaverse focus 3d technology company for 10 years. So tell me
Lindsay Poss:a little bit about yourself.
Unknown:Yeah, I'm one of those people where I get an idea and I
Unknown:just nothing I have crazy, like blindsided focus on this to a
Unknown:fault. And I'm going to do it. So my poor parents growing up.
Unknown:You know, if I wanted to do something, I was going to do it.
Unknown:But, but yeah, I mean, growing up, I loved math and science, I
Unknown:hated writing with passion. So I would do everything to like,
Unknown:take more math and science classes, and I love building
Unknown:stuff. My dad was an electrician. And he, he, the
Unknown:company he worked for went out of business. And I was in first
Unknown:grade. So he decided to just, you know, start his own company.
Unknown:So it was him and a friend doing like it started as like house
Unknown:calls. I'd like ride around in the truck on the weekends to
Unknown:construction sites. So I'm gonna have a break. So I think that's
Unknown:where I got interested in, in engineering. And I watched him
Unknown:you know, it was it was really hard. It was full on startup,
Unknown:you know, when I was in elementary school, but I watched
Unknown:him grow it to a couple 100 person company that did jobs
Unknown:around the world. And it was really cool to watch that. And
Unknown:really inspiring. And I was like, you know, I want to build
Unknown:my own company someday like that. That was awesome. And so,
Unknown:yeah, but my dad, you know, he never got the chance to go to
Unknown:college. She was like, you know, you're gonna go to college. It's
Unknown:like, sounds good. I put engineering and got in and, you
Unknown:know, ended up like, again, I could avoid as much writing as
Unknown:possible. I liked it. And yeah, I knew I wanted to start my own
Unknown:company. Wasn't sure what, you know, I worked at British
Unknown:Petroleum for a while actually, after I graduated, I worked at
Unknown:an oil refinery. I learned a lot, not my passion at all. I
Unknown:was like, what kind of like, like, I'm still friends with
Unknown:some of the people. I mean, refineries are intense, like,
Unknown:literal fires happen, and you got to work together and figure
Unknown:it out. So I'm still friends with the people there. It just
Unknown:was not what I wanted to do for the rest of my life. And so I
Unknown:ended up leaving. I took a leave of absence and didn't go back. I
Unknown:got a job programming light shows for DJs on the weekends.
Unknown:And that was super fun. So it was like finally combining like
Unknown:engineering and art. It was one of the most fun jobs I ever had.
Unknown:And that's kind of where I was like, Alright, how do we take
Unknown:these light shows to the next level? How do we create more
Unknown:interactive experiences? And that's really what led me to to
Unknown:co founded Ventana. So midlife crisis or quarterlife crisis to
Unknown:working at a nightclub and starting a company
Lindsay Poss:now I was actually kind of picturing while you're
Lindsay Poss:saying that you know what I enjoy a lot about music and
Lindsay Poss:lightness or a lot of it is that I mean I can actually see the
Lindsay Poss:the crossover into kind of 3d models and stuff because it's a
Lindsay Poss:very like yeah, I don't know I think of like, it's it is kind
Lindsay Poss:of an immersive thing, right? Like it's It makes everything
Lindsay Poss:feel more alive when you have really cool lighting. That's
Lindsay Poss:something that I actually really value. I went to college at a
Lindsay Poss:place where we had a very good theater program, and I met a
Lindsay Poss:lighting major my first year. And then after a while, she
Lindsay Poss:totally convinced me she actually switched to sound too.
Lindsay Poss:But she totally convincing the importance of lighting. And I
Lindsay Poss:feel like ever since then. Yeah. That actually transitions pretty
Lindsay Poss:well into the kind of 3d hands on things I think. And yeah.
Lindsay Poss:Live.
Unknown:Yeah, it's another way to put how do we put the digital
Unknown:in the real environment? How do we, you know, take these visuals
Unknown:to that next level and augmented reality and virtual reality?
Lindsay Poss:You know how to do that. Yeah. Well, it's such a
Lindsay Poss:funny way. Yeah. So next time, you're at a big club, everyone
Lindsay Poss:listening.
Unknown:You know, like, like the, I mean, the lights are
Unknown:incredible. Everything that's happening with like, the drone
Unknown:light shows are amazing. Every year now Coachella has augmented
Unknown:reality experiences overlaid on top of the show, you know, so it
Unknown:still?
Lindsay Poss:Yeah, super cool. Actually, one of my favorite
Lindsay Poss:shows that I saw was MGMT, and they had horrible stage
Lindsay Poss:presence. But what they did have was an incredible, like, it was,
Lindsay Poss:it was it definitely felt like augmented reality. But it was
Lindsay Poss:not but an incredible life display during the whole show.
Lindsay Poss:And I was just like, fascinated, we all had glow sticks going
Lindsay Poss:along with it. It was amazing. So yes, I think that music is
Lindsay Poss:one of the best ways to get into 3d experiences. For sure. That's
Lindsay Poss:my own personal opinion. So I really enjoyed listening to
Lindsay Poss:music. But you know, I'm, so I love that whole story. And thank
Lindsay Poss:you, thank you for telling me about your childhood stuff. And
Lindsay Poss:really cool that your dad was able to build such a huge
Lindsay Poss:business. And that takes so much work. And you mentioned just
Lindsay Poss:from a very young age, dating, writing, loving math and
Lindsay Poss:science. I think that's the thing that a lot of women
Lindsay Poss:experience. But we do see really low retention rates by the time
Lindsay Poss:women start to get into their late 30s ish in STEM and tech
Lindsay Poss:fields. What do you think we can do? And particularly we I'm
Lindsay Poss:talking more so probably about small to midsize companies who
Lindsay Poss:have a lot of flexibility in their practice, not like society
Lindsay Poss:as a whole and enormous institutions. But what can
Lindsay Poss:people who are in positions of leadership within a business do
Lindsay Poss:to better recruit and retain women in STEM positions? Yeah, I
Unknown:think, you know, I do a lot of volunteering.
Lindsay Poss:I think it starts with teachers, right
Unknown:and encouraging that the from a young age, I had no
Unknown:credible third grade teacher who like let me do extra science
Unknown:experiments in the back of the room. I still remember this
Unknown:Mackenzie's she was awesome. So it kind of starts there. And
Unknown:then you know, I do lots of volunteering at USC, which, you
Unknown:know, I think 2020 was the first year we had like a 45%, woman
Unknown:engineering freshman class, which is amazing, because when I
Unknown:graduated, like the graduating engineering class was like, 19%
Unknown:women, so that so the schools are doing a lot to help recruit
Unknown:and promote and retain more diverse students. So don't tell
Unknown:me it's pipeline problem, you know, hiring. You know, like,
Unknown:we're fixing that problem, right. And so then as a
Unknown:business, making sure that there's those entry level
Unknown:positions that have like training and support to grow
Unknown:into those next roles. And that's just good for your
Unknown:business in general, right? You want to be building a pipeline
Unknown:of students to mid mid managers.
Lindsay Poss:But I think, and
Unknown:this isn't like a gender or minority thing, but
Unknown:just humans, every human in general learns differently. And,
Unknown:you know, I think making sure you build a program, like a
Unknown:training program within your company that can help people get
Unknown:to that next level. And I'm not saying to like, do special
Unknown:things for women. I'm just saying in general, like you
Unknown:should have a clear pass for promotion within your company.
Unknown:Which is good for like growth and retention in general. But I
Unknown:think
Lindsay Poss:just as a little side plug, yes, that is
Lindsay Poss:basically the number one reason people cite for resigning from
Lindsay Poss:cushy jobs is no growth potential.
Unknown:Exactly. Yeah. So So I think doing that and I think
Unknown:you'll end up just being more attractive and more attractive
Unknown:to more people, which will give you a more diverse pool of
Unknown:candidates. And then of course, in your interview process. I
Unknown:think Airbnb did a study, they realized that they weren't
Unknown:hiring enough women or minorities, and they realized
Unknown:like all the interviewers were men, and they're like, oh, we
Unknown:should To throw in and make sure the interviewers are diverse,
Unknown:and lo and behold, when they switched up the interviewers,
Unknown:all of a sudden they were hiring more diverse people. And I think
Unknown:it's a combination of so many factors of the, you know, if
Unknown:you're a minority coming in and you see another minority, that
Unknown:company, maybe you're more comfortable and confident in
Unknown:that interview, you know, like, I think there's a lot of factors
Unknown:at play. But that's like a very easy thing that you could do.
Unknown:Just make sure your people are doing the interviews are diverse
Unknown:themselves some. So
Lindsay Poss:yeah, the Rooney rule. But for everyone. We have
Lindsay Poss:any NFL fans out there. We don't google the Rooney Rule. It's a
Lindsay Poss:good rule. Well, actually, I before we get into our last
Lindsay Poss:segment, I want to quickly just summarize everything we've
Lindsay Poss:talked about so far. We started with you giving me basically a
Lindsay Poss:whole primer on what Ventana does, which was super cool. And
Lindsay Poss:I, I truly mean that I really enjoyed getting to learn about
Lindsay Poss:the technology. And what Fontana does do is streamline 3d from
Lindsay Poss:for design, the manufacturing processes. The it's a, I'm gonna
Lindsay Poss:say all of this, and then you interject if I'm wrong, but it's
Lindsay Poss:a b2b software as a solution service that basically takes
Lindsay Poss:shape files from any 3d type of program that designers might use
Lindsay Poss:across industries, and converts them into a much smaller, much
Lindsay Poss:more ready to use customer facing type of file for use and
Lindsay Poss:advertisements for use in collaboration. One really cool
Lindsay Poss:example that you gave was use in samples within the fashion
Lindsay Poss:industry. So allowing people to easily share those rather than
Lindsay Poss:creating a physical sample should not only reduce costs,
Lindsay Poss:but severely or severely sorry, word impactfully reduced carbon
Lindsay Poss:footprint quite a bit. One thing that I thought was super cool is
Lindsay Poss:that by using 3d models, and going through the design process
Lindsay Poss:that ways one of your clients was able to go from a six month
Lindsay Poss:design time to a three week design time, which is a huge
Lindsay Poss:savings in so many ways. And so this is a b2b service with b2c
Lindsay Poss:impacts, meaning that clients can create better experience for
Lindsay Poss:their customers using the optimized files that come from
Lindsay Poss:fatahna. So I get that right.
Unknown:Yeah, exactly. And the easiest analogy is just like
Unknown:Vimeo and YouTube make it easy for you to upload embed into
Unknown:your video. And Tonya makes it easy for you to upload, embed
Unknown:and share 3d and
Lindsay Poss:AR which is so cool. It also democratizes AR
Lindsay Poss:and VR for all audiences because it removes difficulty and
Lindsay Poss:converting files to all kinds of different platforms for the
Lindsay Poss:person who created the file so then be able to use and share
Lindsay Poss:them. And then we after discussing Ventana, you just did
Lindsay Poss:a great job of explaining to me how you've interacted with the
Lindsay Poss:metaverse, which was so fun. I haven't had anyone on quite yet.
Lindsay Poss:Who's it? Who's done it in the same way you have. I've
Lindsay Poss:certainly had people who are super involved in Metaverse
Lindsay Poss:design and building but you're someone who's been having
Lindsay Poss:Metaverse meetups like before it was cool. You're like a
Lindsay Poss:Metaverse hipster. So that was really, really fun to learn
Lindsay Poss:about. I like that you called the metaverse, the spatial
Lindsay Poss:internet, I think that's an easy way to define it without getting
Lindsay Poss:lost in the hype. So it's just a new way of interacting with the
Lindsay Poss:digital world. We actually talked about NF T's which I
Lindsay Poss:wasn't necessarily expecting to come up, but they are the
Lindsay Poss:buzzword of the moment. But I don't think that you use it in a
Lindsay Poss:buzzword II type way. Because what you were teaching me about
Lindsay Poss:is that have to show that people do value digital ownership and
Lindsay Poss:assets and valuing. And they also value fully owning that
Lindsay Poss:asset or thing anywhere in the metaverse so not just a single
Lindsay Poss:platform item. we pivoted into discussion on funding and
Lindsay Poss:building a company. You had said that you started by networking,
Lindsay Poss:building relationships over time, which can be difficult for
Lindsay Poss:women and minorities who don't traditionally kind of, there's
Lindsay Poss:some people who kind of start off with that network just in
Lindsay Poss:their circle. And some people have to work a little bit more
Lindsay Poss:to get that network. And so you mentioned that you were a person
Lindsay Poss:who had to work a little more to get that work. But that you
Lindsay Poss:started with mentorship. You started with coffee dates, you
Lindsay Poss:started with cold emails to even Mark Cuban. And any recommended
Lindsay Poss:venture deals as a resource for folks looking for funding. When
Lindsay Poss:it comes to how we might be able to improve the funding space.
Lindsay Poss:One thing that you said that was really concrete was keeping
Lindsay Poss:evaluations, companies and founders consistent across the
Lindsay Poss:board, which can help bring more people into the room and remove
Lindsay Poss:some of the barriers for women and minorities, which I think is
Lindsay Poss:just a overall problem, not just funding society. valuations were
Lindsay Poss:consistent for everybody. Definitely. And we ended with
Lindsay Poss:recruiting and keeping women in STEM. You shared a great story
Lindsay Poss:about how you grew up and became interested and shout out to Your
Lindsay Poss:third grade science teacher for letting you do extra
Lindsay Poss:experiments. But how it is important to nurture young woman
Lindsay Poss:who showed interest in math and science, colleges are doing a
Lindsay Poss:lot better to recruit and maintain diverse students. This
Lindsay Poss:is not necessarily every college, but I know that a lot
Lindsay Poss:of places are working really hard to make this top of mind,
Lindsay Poss:which means that the pipeline problem can no longer be stated
Lindsay Poss:on the business and hiring. And then there is a pipeline, you
Lindsay Poss:have to go out and find the candidates. But one thing that
Lindsay Poss:can help is by creating a path from entry level up and training
Lindsay Poss:programs for those who are interested in actually moving up
Lindsay Poss:that path. So actually having a vision for folks that start
Lindsay Poss:working with the company and figuring out a way to move them
Lindsay Poss:forward if they would like to do so is one of the best ways to
Lindsay Poss:attract and maintain employees. And then we also discussed the
Lindsay Poss:interview process and how making sure that the interviewers
Lindsay Poss:diverse, are diverse means that you can help ensure that you get
Lindsay Poss:more diversity within your candidates. So that was a wide
Lindsay Poss:ranging discussion. But I like to end every podcast with what I
Lindsay Poss:call the moment of reflection. And this is just a chance for
Lindsay Poss:you to look back on your career. And the thing that I asked you
Lindsay Poss:to answer is what is the one thing you would like to tell
Lindsay Poss:your younger self about getting into the tech industry and being
Lindsay Poss:successful?
Unknown:Oh, man, I don't want to celebrate the wins. I think
Unknown:as you as you grow, you know,
Lindsay Poss:you're I have
Unknown:so many I think any entrepreneurs like this, you're
Unknown:always looking for that next thing that next level you want
Unknown:to get to and sometimes you forget to celebrate the wins
Unknown:along the way, and you don't realize how far you've come. And
Unknown:so
Lindsay Poss:that would be my advice.
Unknown:I really liked
Lindsay Poss:that I haven't had anyone give that sort of advice.
Lindsay Poss:But yeah, I think that women should brag more. You can still
Lindsay Poss:be humble and brag a little bit it's fine.
Unknown:It's possible even just for your own self like enjoy way
Unknown:the the winds when they happen and don't blow past and think
Unknown:about the next thing you know too fast. So yeah,
Lindsay Poss:take a second I get it. Thank you so much for
Lindsay Poss:coming on. Where can people find you follow you read what you're
Lindsay Poss:thinking about? Find Ventana contacting for sales.
Unknown:I'm on LinkedIn, love LinkedIn. So just Ashley
Unknown:Crowder, you can find me there. You can follow Ventana on
Unknown:LinkedIn as well. Or go to our website. It's just the n t a n
Unknown:a.com. So it's like window and Spanish and sauna without the so
Lindsay Poss:I actually didn't put that together until you said
Lindsay Poss:that. But that's great. For all the listeners out there. Be sure
Lindsay Poss:to leave those five star ratings and reviews. Check out other
Lindsay Poss:holodeck media podcasts, including metal business for all
Lindsay Poss:the metaverse finance stories you could ever want. Business of
Lindsay Poss:esports for interviews with industry leaders. I'm on
Lindsay Poss:Twitter, Instagram and LinkedIn and Lindsey pass and you can
Lindsay Poss:catch me once you Nate's on the business of esports live after
Lindsay Poss:show. You can catch this podcast and your feed every week. We'll
Lindsay Poss:see you next week.
Unknown:Thanks for joining us here on meta woman. Make sure to
Unknown:subscribe to this podcast everywhere you get your
Unknown:podcasts, leave a five star review and tell your friends,
Unknown:family and colleagues all about us. Also, make sure to follow
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