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Sure Shot Entrepreneur Newsletter

NewBuild, Charles Hudson, HoneyComb: The Sure Shot Entrepreneur Newsletter

Published 21 days ago • 2 min read

Hello Reader,

How do you recalibrate your investment strategy in today's rapidly evolving venture landscape? This central question framed a recent discussion with emerging managers in the VC for Tech program at the University of California, Berkeley. I was invited to speak to 35 participants in the program last week. The fundamental mechanics of building early-stage companies have shifted dramatically. Startups are increasingly leveraging AI tools to accelerate development and rapidly adapt to customer demands. Meanwhile, traditional moats and preconceived barriers to entry are being redefined. Teams have become leaner yet exponentially more productive, even as demonstrating quantifiable enterprise value remains a nuanced challenge and valuations continue to defy conventional frameworks.

Navigating these dynamic market conditions presents genuine complexity, yet it also makes this one of the most compelling eras to build and back early-stage ventures.

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Startup Corner: Honeycomb Insurance

​Honeycomb Insurance is expanding into Nevada, extending its digital insurance platform to another market and bringing its footprint to 24 states, representing more than 70% of the U.S. population. The expansion comes as the company continues to grow its presence in the property insurance market.

The expansion follows Honeycomb's $40 million funding round announced earlier this year. The company provides technology-driven insurance for apartment buildings and condominium associations, using property-level data, AI models, geospatial information, and imagery to deliver more precise underwriting. Honeycomb had reached $275 million in gross written premium and more than $100 billion in insured assets as it exited 2025.

New Podcast: Show Proof of Value Before You Build for Scale

​In Episode 195 of The Sure Shot Entrepreneur podcast, Rohini Chakravarthy, Managing Partner at NewBuild Venture Capital was my guest. We chat about what she looks for in early-stage companies and why founders should focus on showing proof of value before trying to prove the entire market.

Rohini explains how starting with a burning problem, examining founder-market fit, and deliberately de-risking the company one stage at a time can help founders shoot for success. She also shares how investors build conviction through conversations, research, validation, and back-and-forth with founders, and why finding the right partners and experts can make a meaningful difference.

She draws on examples from NewBuild's investments to show what proof of value can look like in practice, including how an early customer use case can provide enough evidence to justify the next step.

Key Takeaways

  • Start with a burning problem, not just an interesting technology.
  • Ask whether you and your team are the right people to solve the problem.
  • Look for proof of value before trying to prove the entire market.
  • De-risk the company one stage at a time.
  • Investors build conviction through an ongoing process of research, validation, and conversation.

Connected Insights: From Proof of Value to Product-Market Fit

Charles Hudson, Managing Partner and Founder of Precursor Ventures was my guest in episode 73. Charles takes a similarly early-stage view of company building. He explains why Precursor is willing to back founders before they have meaningful traction and why early capital should help determine whether a company is actually on the right track.

For Charles, clarity is critical: founders need to clearly explain what their product does, why it matters, and who it serves. He believes that for most software companies, roughly $1 million can provide enough runway to get an indication of whether the company is moving toward product-market fit.

Rohini calls this proof of value. Charles focuses on what comes next: using early execution and customer response to determine whether you're on the right track.

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Sure Shot Entrepreneur Newsletter

Gopi Rangan

Enable Peace of Mind for all. We believe in mission-driven entrepreneurs at the earliest stages before the rest of the world realizes the impact of their visionary ideas. This newsletter pairs well with our podcast that shares all the funders and founders' knowledge to startup and scale your ideas. All the best, Gopi

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