The Upwind Podcast
What if the key to winning in 2026 wasn't perfection—but moving so fast that your competition can't keep up? In this high-energy conversation, host Lily Dash sits down with Michelle Romanow—co-founder and executive chair of Clearco (which has funded over 10,000 companies and deployed $3 billion in capital), one of Canada's youngest Dragons on Dragon's Den for 12 seasons, and one of the most influential entrepreneurs and investors in North America. From building one of Canada's first e-commerce companies in 2010, to pioneering revenue-based financing for founders, to navigating the AI revolution as both investor and builder, Michelle brings a relentless, no-nonsense perspective on what it actually takes to build, scale, and win. This episode unpacks: • Why Michelle's entire investment criteria has changed in the last 15 years—and what she's looking for in 2026 • The brutal truth: AI has made it easier than ever for founders to move fast—and harder than ever for big companies to keep up • How one AI agent is now doing the work of four people: sales, support, operations, and collections—all in one conversation • The Kavak example: how Mexico's Carvana is using AI agents to transform customer experience and eliminate departmental silos • Why founders now have a bigger opportunity than ever—if they know how to use AI tools to build fast and iterate faster • The four days in one day framework: how elite founders structure their time to move 4x faster than everyone else • Why taking 100 shots on goal beats 10 perfect shots every time—speed compounds, perfection stalls • The Cal AI story: how high school students built a calorie tracking app using AI, scaled to millions in ARR, and got acquired by MyFitnessPal—all while attending classes • Why traction is now accessible with $150 in AI credits—when it used to cost $30,000+ just to get an app off the ground • How low barriers to entry also mean low barriers to competition—and why brand, PR, and early traction are the only moats left • The three investment themes Michelle is betting on: AI applications, health and wellness, and defense technology • Why people are drinking less alcohol, doing more cold plunges, and spending serious money on natural health solutions • How the defense and military tech sector has exploded due to global conflict—and why it's a major opportunity • The truth about SaaS: why companies like PagerDuty are now trading at 1x revenue multiples when they used to trade at 10x forward • How legacy software companies are struggling to adapt to AI—and why founders who build AI-first will win • Why founder risk is the #1 risk in startup investing—and how co-founder breakups can destroy billion-dollar companies • Michelle's philosophy on co-founders: she's never been a sole founder, and pace alignment is more important than skill alignment • The power of Dragon's Den: how it creates a natural tension between capital and ideas—and why the Caribbean needs its own version • Why community is the #1 tool for founders—and how shared knowledge from other entrepreneurs changes everything • The mistake of building for local markets first: how someone in a bigger market will copy your idea and win with a head start • Why Groupon started in Asia, got copied in the US, and became a cautionary tale for geographic strategy • How the Caribbean could become a global hub for ocean tech, tourism innovation, and food security solutions • The food security problem: why Barbados imports 70% of its food when it has incredible soil, proximity to major food producers, and year-round growing conditions • Why AI and systems thinking could solve coordination problems in Caribbean trade, agriculture, and supply chains • How motherhood changed Michelle's perspective: the superpower of prioritization, thinking about the world her daughter will live in, and using AI to be a better parent • The cooking unlock: how ChatGPT turned Michelle into a 10/10 cook by giving her authentic recipes, perfect portions, and substitution hacks • Why she fixed her car and fridge with ChatGPT—and how AI is making everyone superhuman in daily life • The tacking analogy: how entrepreneurship is like sailing upwind—you have to pivot with the same enthusiasm you started with, even when the wind shifts • The $12,000 ad bet: how Michelle had $15,000 left in the bank, spent $12,000 on one ad, and it worked—launching one of Canada's first e-commerce companies • The Clearco pivot: how they spent two years and $30 million building products for Uber drivers and Airbnb hosts—then pivoted entirely to e-commerce financing • Why it's harder to pivot when things are going okay than when your back is against the wall—but that's when the biggest opportunities emerge
17 episodios
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