>> EVERYONE WELCOME BACK
TO CHEDDAR SHAKERS FOUCHE WHICH
OFFERS BUSINESSES INSURANCE
TO STARTUPS THEY HAVE SECURE
FRESH FUNDING YEAR DROUGHT IS
RAISED $45 MILLION IN THE
SERIES.
>> THE
FUNDING ROUND. BUT BY Y
COMBINATOR CONTINUITY WHICH IS
A FUND THAT ALSO BACKS
COMPANIES LIKE INSTANT AND
STRIVE FOR MORE ON THIS RAISE
WE'RE JOINED
BY BOUTS FOUNDER AND CEO SAM
HODGES SAM GREAT SEE HERE WITH
US TODAY, LET'S DIVE RIGHT IN
WHITE. HIS BUSINESS INSURANCE
SO NECESSARY FOR STARTUPS.
>> SO SO THANK YOU FOR
HAVING ME ON THE SHOW A
BUSINESS INSURANCE IS A REALLY
IMPORTANT PART
OF OUT HELPING FOUNDERS MANAGE
THE RISKS ASSOCIATED
WITH STARTING THE GONE ARE THE
DAYS WHERE YOU CAN MOVE FAST
AND BREAK THINGS.
THE REALITY IS THAT MANY
STARTUPS ARE HELPING SAME
STANDARD THAT A MORE MATURE
COMPANIES ARE AND SO RANGING
FROM RISK EVENTS
ASSOCIATED WITH EMPLOYMENT
PRACTICES, 3RD POTENTIAL CLAIMS
INSTRUCTORS AND OFFICERS OF THE
COMPANY OR JUST BASIC THINGS
LIKE PROPERTY THEFT WITHOUT
PROVIDES A
SET OUT BUSINESS SOLUTIONS TO
MAKE IT REALLY EASY FOR FOUNDER
TO GET ALL THE INSURANCE SHE
NEEDS TO START AND THEN TO
STEAL A COMPANY TO DO SO
SAFELY.
>> OK SO THE INSURANCE IS.
HOME EXACTLY BECAUSE IN THIS
EXAMPLE, YOU YOU REFER TO A SHE
MAY BE A FOUNDER IF
SOMETHING HAPPENS. LET'S SAY
YOU'RE A WE WORK AND THEY ARE
ADAM NEUMANN AND YOU KNOW
YOU'RE GETTING OUSTED AND THEN
THE COMPANY OFF THERE'S THIS
INSURANCE OR BUY
THIS INSURANCE. WHAT DOES THAT
THEN IF THEY HAD GOTTEN THIS
THROUGH VOUCH PROTECTED THEM
AGAINST GOTTEN OUT OF OUT WITH
THE OUSTER OF LET'S SAY
>> WELL I GUESS
WITHOUT COMMENTING ON THAT WE
IN GENERAL WHAT THAT THE
INSURANCE POLICIES, THE DOCKS
WINDS UP KEPT THE
COMPANY AGAINST ARE A VARIETY
OF DIFFERENT EITHER PROPERTY
RELATED ABOUT SO THAT COULD BE
YOU KNOW YOU'RE OFFICE FLOODS
YOU KNOW YOUR YOUR LAPTOPS OR
DESTROYED ALSO WAS AT A WHITE
GOATEE RELATED ABOUT AND SO
THOSE ARE
THINGS LIKE IF YOU HAVE A
TERMINATION OF THAT WITH
EMPLOYED THINGS GO AWRY AND THE
COMPANY IS GETTING SUED TO
PROTECT THE BUSINESS SECOND
STOP. IF THERE'S A LAWSUIT
AGAINST THE BOARD OF DIRECTORS
OF THE COMPANY IF THERE'S A
DISPUTE OVER OWNERSHIP FOR
EXAMPLE, OUR INSURANCE POLICIES
PROTECT AGAINST THAT AS WELL
AND WHAT THAT HAS DONE IS
ACTUALLY BUILT A PLATFORM WHERE
WE HAVE A WIDE RANGE OF
COVERAGES ALL WRAPPED INTO ONE
REALLY SIMPLE IT REALLY EASY TO
SEE WHY HE'S EATING SOLUTION.
SO A FOUNDER AND EXECUTIVE
THE COMPANY CAN GET ALL THE
BUSINESS INSURANCE THEY NEED IN
ONE PLACE AND YOU CAN DO THAT
IN UNDER 10 CONTRAST TO THE THE
WEEKS OR
EVEN MONTHS IT WOULD TAKE TO
WANT TO GET THOSE GOVERNMENTS
THAT FUNDING BIG CAP.
>> RAISES IT SLOWS DOWN DURING
TIMES
OF RECESSION. I ECONOMISTS ARE
CERTAINLY LOOKING AT THIS RIGHT
NOW AND TRYING TO BAKE
THAT INTO WHAT WILL HAPPEN WHEN
THE NEXT RECESSION WILL TAKE
PLACE AND FOR THE STARTUPS AS
WELL START OF SURRENDERING
ALL RIGHT, WHAT HAPPENS TO OUR
BUSINESS IN THE EVENT OF THE
NEXT RECESSION. I'M SURE WE
HAVE SOME GREAT COMPANIES THAT
HAVE BEEN BUILT OUT OF THE MOST
RECENT
RECESSION DURING AND AFTER THAT
TIME OF USE THAT OPPORTUNITY TO
BUILD UP THEIR AS IT BREEDS
INNOVATION BUT DO YOU THINK
WE'LL SEE A SLOWDOWN IN THE
FUNDING TO ALL OF THESE
STARTUPS IN THE NEAR FUTURE.
>> WELL I THINK GIVEN THE
EVENTS THAT ARE COMING IN AND
TELLING NEWS OVER THE LAST
6 MONTHS SO THAT CERTAINLY IS
AN INCREASED FOCUS ON BUILDING
COMPANIES ARE RESPONSIBLE WAY
AND IN A
SUSTAINABLE WAY AT THE SAME
TIME IF YOU LOOK GLOBALLY I
CONTINUE TO BELIEVE TECHNOLOGY
INNOVATION IS ONE OF THE MAJOR
MOST IMPORTANT SOURCE OF GROWTH
IN THE WORLD OVER.
AND SO I YOU KNOW AS LONG AS
YOU'RE BUILDING A BUSINESS WITH
A STRONG BUSINESS MODEL WHERE
YOU'RE SOLVING A PROBLEM
FOR CUSTOMER IN DOING IN A WAY
THAT WILL WORK AT SCALE I WOULD
ANTICIPATE THERE BEING A LOT
MORE FUNDING TO TO COME IN AND
I CERTAINLY THINK THE
AMOUNT OF DRY POWDER THAT IS IN
THE COUNTRY BECAUSE THIS TODAY
WOULD I WOULD SUGGEST THAT THIS
WILL CONTINUE FOR SAME TIME
AGAINST AN ABILITY TO HIM
IMPORTANT AND WE WE BELIEVE
BUSINESS INSURANCE AND RISK
MANAGEMENT ARE REALLY IMPORTANT
ASPECTS OF BUILDING A COMPANY
IN A IN A RESPONSIBLE AND
SUSTAINABLE WAY SO THAT IS IT
THAT'S A BIG ELEMENT OF WHAT
WE'RE TRYING TO DO HERE ABOUT.
>> SAM WE'RE OUT OF TIME TODAY
BUT LOTS OF QUESTIONS ABOUT HOW
DIFFERENTIATES FROM REGULAR
SMALL BUSINESS INSURANCE AND
YOU KNOW IF THIS IS THE KIND OF
PACKAGING DEAL WHERE YOU GET
INTO MAYBE SOME MORE SPECIFIC