500. AI Native VC, Achieving 50%+ Graduation from Seed to Series A, Why Access Is the Key to Success, and Why Network Driven Firms Can No Longer Compete (Ben Orthlieb)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified · Jan 19, 2026 · 46m

Ben Orthlieb of Blue Moon joins Nick to discuss AI Native VC, Achieving 50%+ Graduation from Seed to Series A, Why Access Is the Key to Success, and Why Network Driven Firms Can No Longer Compete. In this episode we cover:

Challenges of the Traditional Venture Model

Blue Moon's AI-Assisted Human Judgment

Evaluating Exceptional Founders

Access vs. Picking in Venture Capital

Blue Moon's Sourcing and Screening Process

Non-Obvious Data Sources and Market Dynamics

Winning Deals and Founder Relationships

Future of Blue Moon and AI in Venture Capital

Importance of Price and Pre-Commitments

Guest…