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Bradley Tusk says VC is dead. But the ‘fixer’ in him is just getting started

According to Bradley Tusk, co-founder and managing partner of Tusk Venture Partners () , venture capital has been “effectively dead for the last four years.” A self-proclaimed “Fixer () ,” Tusk recently made the decision not to raise a fourth fund. Instead, he decided to go back to his roots and launch an equity-for-services firm…

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According to Bradley Tusk, co-founder and managing partner of Tusk Venture Partners () , venture capital has been “effectively dead for the last four years.” A self-proclaimed “Fixer () ,” Tusk recently made the decision not to raise a fourth fund. Instead, he decided to go back to his roots and launch an equity-for-services firm aimed at helping early stage startups navigate tech policy and regulation.

Today on Equity () , Rebecca Bellan sat down with Tusk to explore his pivot from traditional VC to equity-for-services, when it’s worth the risk to ask for forgiveness rather than permission, and why he’s dedicated to scaling mobile voting.

Listen to the full episode to hear more about:

• The limitations of the current VC model and its lack of liquidity.

• How Trump’s tariffs and other measures have spooked the markets. 

• Tusk’s experience advising early-stage founders on regulatory climates, including the crucial role he played in Uber’s early growth.

• Insights into his mobile voting project aimed at increasing voter turnout through secure, open-source technology.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. 

Subscribe to us on Apple Podcasts () , Overcast () , Spotify () and all the casts. You also can follow Equity on X () and Threads () , at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here () .

Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we’ll talk to you next time.

Learn more about your ad choices. Visit megaphone.fm/adchoices ()

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Science & Technology

Investors Are Asking AI About Your Startup

What does ChatGPT say about your startup? Dr. Eike Gerhardt explains why founders should think about what LLMs will find when investors use AI to research their companies. Watch the full episode of Build Mode with Eike and Nephrogen founder Demetri Maxim for more advice on building a stronger investor pitch.

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What does ChatGPT say about your startup?

Dr. Eike Gerhardt explains why founders should think about what LLMs will find when investors use AI to research their companies.

Watch the full episode of Build Mode with Eike and Nephrogen founder Demetri Maxim for more advice on building a stronger investor pitch.

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Science & Technology

A PhD in Pitching Breaks Down a Startup Battlefield Pitch l Build Mode

There is no such thing as the perfect pitch. But you can get close by implementing a few research-backed methods to your delivery, deck, and message. In this episode of Build Mode, host Isabelle Johannesen sits down with Dr. Eike Gerhardt, who has aPhD in pitching and spent nearly a decade studying the science of…

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There is no such thing as the perfect pitch. But you can get close by implementing a few research-backed methods to your delivery, deck, and message.

In this episode of Build Mode, host Isabelle Johannesen sits down with Dr. Eike Gerhardt, who has aPhD in pitching and spent nearly a decade studying the science of startup pitching before starting Autopoiesis Sciences. And he’s joined by Demetri Maxim, co-founder and CEO of Nephrogen, who came in second at TechCrunch Startup Battlefield 2025.

Together, they break down Demetri’s actual Startup Battlefield pitch to unpack what worked, what could be improved, and what research tells us about how investors respond to founders. Eike explains why credibility signals matter, how technical founders can simplify without oversimplifying, and why Q&A should be treated as a second pitch. Demetri shares how he learned to explain complex biotech to generalist investors, how redesigning his deck changed his confidence onstage, and what he would do differently today.
They also explore how body language and authenticity affect a pitch, how investor questions can reveal bias, and how founders can use AI to prepare for difficult Q&A.

Here are the studies mentioned in the episode:
Kanze, D., Huang, L., Conley, M. A., & Higgins, E. T. (2018). “We Ask Men to Win and Women Not to Lose: Closing the Gender Gap in Startup Funding.” Academy of Management Journal
Figge, P., Graf-Vlachy, L., König, A., Demann, F., & Diessner, M. (2025). “Shades of Grey or Black and White? How Entrepreneurs’ Use of Cognitively Complex Language Affects Investor Funding.” Entrepreneurship Theory and Practice
Clarke, J. S., Cornelissen, J. P., & Healey, M. P. (2019). “Actions Speak Louder than Words: How Figurative Language and Gesturing in Entrepreneurial Pitches Influences Investment Judgments.” Academy of Management Journal
Jiang, L., Yin, D., & Liu, D. (2019). “Can Joy Buy You Money? The Impact of the Strength, Duration, and Phases of an Entrepreneur’s Peak Displayed Joy on Funding Performance.” Academy of Management Journal.
Chen, X.-P., Yao, X., & Kotha, S. (2009). “Entrepreneur Passion and Preparedness in Business Plan Presentations: A Persuasion Analysis of Venture Capitalists’ Funding Decisions.” Academy of Management Journal
Zhu, L. Y., Young, M. J., & Bauman, C. W. (2024). “Linking Anxiety to Passion: Emotion Regulation and Entrepreneurs’ Pitch Performance.” Journal of Business Venturing
Allison, T. H., Davis, B. C., Webb, J. W., & Short, J. C. (2017). “Persuasion in Crowdfunding: An Elaboration Likelihood Model of Crowdfunding Performance.” Journal of Business Venturing
Clark, C. (2008). “The Impact of Entrepreneurs’ Oral ‘Pitch’ Presentation Skills on Business Angels’ Initial Screening Investment Decisions.” Venture Capital

Subscribe to Build Mode:
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Spotify
Wherever you like to listen
New episodes of Build Mode drop every Thursday.

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CNET

Sennheiser Momentum True Wireless 5 Review: Just What I Was Asking for

Featuring an improved design, including replaceable batteries, along with better noise-canceling and voice-calling performance, the excellent sounding $300 Momentum TWS 5 are top earbuds contender and earn a CNET Editors’ Choice award. Timecode Chapters: 0:00 Intro 0:21 Design Changes 0:41 Replaceable Batteries 0:56 New Features 1:04 Compared to the Momentum True Wireless 4 1:25 Ear…

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Featuring an improved design, including replaceable batteries, along with better noise-canceling and voice-calling performance, the excellent sounding $300 Momentum TWS 5 are top earbuds contender and earn a CNET Editors’ Choice award.

Timecode Chapters:
0:00 Intro
0:21 Design Changes
0:41 Replaceable Batteries
0:56 New Features
1:04 Compared to the Momentum True Wireless 4
1:25 Ear Tips
1:53 Tight Seal is Crucial
2:01 Sound Quality
2:31 Sony vs Sennheiser
2:48 Noise Cancellation
3:23 Sound Test
3:47 Firmware Update Needed
4:03 Audio Dropouts?
4:14 Robust Connection
4:32 Codecs
4:57 Battery Life
5:17 What Do You Think?

Video Credits:
Host: David Carnoy
Scripted by: David Carnoy
Producer: Numi Prasarn
Camera: Numi Prasarn
Video Editor: Numi Prasarn
Thumbnail Designer: Zooey Liao

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#sennheiser #momentumtruewireless5 #earbudsreview

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