This episode we roast three AI startups that recently closed rounds. Axiom Math wants to build a superhuman math reasoning system — great team, no product yet, and we explain why that's a problem. Nexus is an enterprise agent platform riding the AI wave, but in a market so saturated that distribution beats technology every time. And Ivo, the Australian contract intelligence startup that just raised a $55M Series B, is turning legal contracts into business intelligence — real traction, real risks, and a moat that could cut both ways.

This is a special episode on ICP — Ideal Customer Profile — the one thing every founder needs before anything else in lead-gen. We cover why "selling to everyone" is a fear response, not a strategy, and how to move from vague demographics to a psychographic profile that actually drives messaging. We walk through three diagnostic questions that reveal what your customer Googles at 3 AM, what they've already tried, and why it failed — then apply the framework live to a real startup: a YouTube transcriber tool built by the co-host. By the end, you've got a named persona, a clear pain stack, and messaging that writes itself.

In this episode, we roast two European startups and three investment funds — and end up noticing that most of what's being funded right now isn't startups at all. Upwest (Berlin) wants to be the investment operating system for legacy banks, but AI is collapsing the very complexity they're paid to abstract away. Kupando (Schönefeld) is betting on innate immunity therapy KUP101 for cases where standard immunotherapy fails — biotech plays by completely different investment rules, and that's worth understanding. We also briefly cover Partech Impact Fund, Montis VC, and Homaio: three ESG-flavored vehicles where the real story is about choosing sides, not backing innovation.