Skipless Ventures opens Cohort 3 applications, positioning El Segundo as the new hard-tech hub

Let's go. Let's go. Um, our next guest is in the reream waiting room. We will bring them into the PBPN Ultra Dome. Jacob, Jacob, welcome to the show. Finally waiting for this moment. It took us very long. We're pretty good. How are you guys? We're doing great. Give us the breakdown. What'd you launch today?

Cohort 3 applications are live. Boom. Hit it. So, the the the best part here is the video. I I assume you guys may have watched it, but it's I think the best Gundo hype video made. Wait, can we pull Can we pull it up? That's a tall order. Can we pull it up? Yeah.

Production team, Ben, can you pull up uh the the latest uh discip discipulous ventures post? Maybe we can put it in the chat. Um can you send it to them? I'm trying to find Jacob's throw it in the chat. We we we will pull this up.

We might need to watch this after you uh hop off, but but give us the update on on the on the previous cohorts. Who's in those? What companies are you in? What's the general thesis? What like what's the why now for this particular uh organization? Break me break it down for me. Yeah.

So, cohort one was in Brain Maker and Valor at the time, their office. They were sharing it. They were both preceded stage. I think it was still very much like, is this going to work or is this not going to work? Um, I think now we're at the point like, okay, this something's working here really well.

And I I think the the big kind of thesis and point here is like we want to be like that entry point to what's going on in Elsagundo. Yep.

The culture is very attractive to to mostly young people want to build companies that really do matter a lot for the country that have kind of been pushed away from other ecosystems that don't really care about that and then and two practically like if you want to build in hardware or aerospace defense, you should be in Elsagundo.

Yeah. SpaceX started down the street for where I'm based. Um and the best talent the supply chain the whole supply chain um and a lot of the customers are in Elsundo area.

So it's like if you want to build an Elsagundo, if you're building an aerospace, defense and hardware and want to be part of the ecosystem, we want to be that way to do that. Um, companies wise, Augusta said Augusta said earlier Rockefeller built Elsa Gundo. I I never knew that. What What's the lore there?

The oil company. Okay. Yeah. It's Chevron like that that there is a massive oil and gas extraction oil refinery there. When you're in the whole town, the whole town was built out to service. Yeah. Yeah. You you can tell the story. I I'll give the the rundown. So Elsando means the second.

It means the second Chevron refinery in the state of California. Um, so that's the reason why. So it's very it's very cool. But on the Yeah, we got the video if you guys want it. Yeah. Yeah, let's play the video. Uh, play it. We're going to we're going to switch over to the video.

This is the fall cohort applications are live now. Yeah. Hit the soundboard. Why not just add an extra layer on top? Are we going to get taken down for this? Is this a open source song? Hopefully. We'll see. This is this is good. It is necessary fast that every in the United States that are like just by their shoulders.

[Music] That's a cool presentation. Let's go. Holy bass. [Music] Good sound editing. There's Isaiah. There's Augustus. We got cameos on cameos. America. [Music] There we go. With a with a Yes. Yes. The gun back. We're definitely getting demonetized. Thank you for demonetizing us. It was worth it. It was worth it.

It was worth it. Uh, take me to the economics. Now, so so how much money do you raise for each cohort? How much money are you putting in? What what's the deal structure? Like how does uh what do the what do the companies actually get out of going through the cohort? Yeah. Yeah.

So I guess just top big picture fund one end up being right around uh the $9 million mark. We're basically doing five cohorts out of this. So three next year, one end of year in October. Yep. Um the basic kind of structure each cohort we do 10 to 12 founders. So in a 100k check um per company will be around 1.

2 2 mil for cohort and then that'll go across the rest and a little bit for follow on for kind of proa um but yeah the kind of standard deal cohort itself is like main thing again you want to be an also a weird way to do that you have all the big name people everybody knows like we can give you access to them just like that and we think that's very valuable early on um to kind of become like I guess consensus bet in a way um just to have those behind you is very helpful and then we have a demo day we bring like 120 I think we had 120 partners last time from top firms like just like that access to all of them so um that's kind of the breakdown we have house.

It's very fun. You have a chef. We have a gym. Everything you need to to build. Are you Are you officially taking over from Augustus's job as also going to a tour guide?

Because every sing There was like a solid six-month period where every single VC and founder would hit up Augustus and be like, "Okay, time for the tour. Let me go around. " He doesn't have time for that. I don't think he has time for it anymore. He's on the road a lot. Yeah. Yeah. It's funny. Yeah.

I I'm getting I have too many texts from from BC saying, "Hey, I want to see show me around. " So, I I think I've taken that I I think it's more of a job for me than him. But one Cool. cool. Here's the wire details and then I'll take you on the tour. Exactly. Exactly.

But also on that point, we had the most recent bonfire which a couple of you guys were at last week, last Friday. Oh, Tyler is like, "Okay, you're taking this over. " Um, and we had like I think close to 200 people come out, which is pretty awesome.

Which is like I think a record I hopefully for one of the bonfires in Wow. venture capital firm absorbing an iconic uh uh networking series. Uh where have we seen this before? It's interesting. I I'll I'll be like completely honest. When I saw Dipilus launch Yeah.

I I wasn't I like I've I've backed a bunch of, you know, I've backed Rain Maker, I backed Shink, bunch of bunch of the Gundo companies, but I it didn't immediately click for me.

But hearing you hearing you talk about it, it's just like uh and obviously we're we're super close with uh with Gary and the whole YC team and they've backed a bunch of hard tech companies and so my immediate thought was like do we need something like this? Do we need a new institution?

And hearing you talk about it and seeing, you know, the progress from the port coast so far, it just makes a ton of sense to have like an institution in Elsagundo because we can't just rely on the city to give tour guides to people that want. A couple years ago, I went I went and did the tour of Elsa Gundo.

Uh couple you helped facilitate the meme. Uh there were a bunch of folks uh that were that were highlighting it. Uh and it the energy was very similar to like you know Mountain View in 2009 or 2012 in my opinion.

like it had that like university a feel like it's sort of it's just boring enough like you're in LA but it's not like this hot town that you're going to get distracted by like it's really just like a lot of cool companies building and then you walk across the street there's another founder they have some tool like it actually makes sense to have people sharing stuff and moving stuff around yeah it's very very cool community makes a ton of sense congratulations on the launch of the new uh application window uh I haven't run this by John But hopefully he agrees.

We'll sponsor the next bon bonfire. So count to come to the purple orchid as well afterwards. That's I've been to the purple orchid. It's a lot of fun. It's a good spot. Awesome. They do the the dragon bowls there that you drink out of. Dragon Balls. Dragons on fire. They light them on fire. Yeah. Yeah. Yeah. Yeah.

Anyway, well, congrats, Jacob. Thanks so much for hopping on. We will talk to you soon. Have a great rest of your day. Awesome. Thank you, guys. In the meantime, let me tell you about Linear. Linear is a purpose-built tool for planning and building products. Meet the system for modern software development.

Streamline issues, projects, and product road maps. Cursor, head over to runway, perplexity,