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Mar 20, 2017 · 17m · top-founders

EP 604: Lumo Accelerator Invests $150k in VRee To Give You Full Body Virtual Reality Experiences with CEO Andy Lurling

Nathan Latka · 7m spoken Andy Lürling · 5m spoken
0:00 / 0:00

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Nathan Latka interviews Andy Lürling and Menno from Lumo Labs to explore their hands-on accelerator investment model and discuss portfolio startup VRee's untethered, full-body virtual reality platform designed for active e-sports and commercial VR arcades.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 48.1% of the talking time here. How this is scored →

Nathan as informed peer 3.2 Guest teaching 2.4 Guest disagreement 1.0 Nathan pushing back 2.4
05100:0010:001:19–6:24 · Nathan as informed peer 5/10 Lumo Labs Accelerator Model and Fund Capitalization Nathan inquires about Lumo Labs' accelerator structure, probing whether they take standard 5-7% equity. Andy explains that because they invest at the pre-demo stage and offer intensive hands-on support, they take a 30% stake.6:24–9:13 · Nathan as informed peer 3/10 Introducing VRee and Untethered Full-Body VR Experiences Menno details VRee's untethered full-body motion capture suit and mobile VR technology. Nathan asks clarifying questions in an engaged and collaborative manner.9:13–11:55 · Nathan as informed peer 4/10 VRee Monetization Strategy, Public Grants, and VR Arcades Nathan parses the non-dilutive government grant funding and cuts through technical descriptions to ask directly if VRee generates any revenue yet.11:57–15:51 · Nathan as informed peer 4/10 Mid-Roll Sponsor Break: HostGator Web Hosting During the Famous Five, Menno jokes that no real entrepreneur sleeps eight hours, prompting Nathan to cite sleep data from over 600 interviews. Nathan also redirects Andy to provide a concrete piece of advice.15:51–16:32 · Nathan as informed peer 0/10 Interview Recap and Guest Farewell Host monologue summarizing Lumo Labs' capitalization and VRee's VR platform before delivering sponsor call-to-actions.1:19–6:24 · Guest teaching 3/10 Lumo Labs Accelerator Model and Fund Capitalization Nathan inquires about Lumo Labs' accelerator structure, probing whether they take standard 5-7% equity. Andy explains that because they invest at the pre-demo stage and offer intensive hands-on support, they take a 30% stake.6:24–9:13 · Guest teaching 4/10 Introducing VRee and Untethered Full-Body VR Experiences Menno details VRee's untethered full-body motion capture suit and mobile VR technology. Nathan asks clarifying questions in an engaged and collaborative manner.9:13–11:55 · Guest teaching 3/10 VRee Monetization Strategy, Public Grants, and VR Arcades Nathan parses the non-dilutive government grant funding and cuts through technical descriptions to ask directly if VRee generates any revenue yet.11:57–15:51 · Guest teaching 2/10 Mid-Roll Sponsor Break: HostGator Web Hosting During the Famous Five, Menno jokes that no real entrepreneur sleeps eight hours, prompting Nathan to cite sleep data from over 600 interviews. Nathan also redirects Andy to provide a concrete piece of advice.15:51–16:32 · Guest teaching 0/10 Interview Recap and Guest Farewell Host monologue summarizing Lumo Labs' capitalization and VRee's VR platform before delivering sponsor call-to-actions.1:19–6:24 · Guest disagreement 1/10 Lumo Labs Accelerator Model and Fund Capitalization Nathan inquires about Lumo Labs' accelerator structure, probing whether they take standard 5-7% equity. Andy explains that because they invest at the pre-demo stage and offer intensive hands-on support, they take a 30% stake.6:24–9:13 · Guest disagreement 1/10 Introducing VRee and Untethered Full-Body VR Experiences Menno details VRee's untethered full-body motion capture suit and mobile VR technology. Nathan asks clarifying questions in an engaged and collaborative manner.9:13–11:55 · Guest disagreement 1/10 VRee Monetization Strategy, Public Grants, and VR Arcades Nathan parses the non-dilutive government grant funding and cuts through technical descriptions to ask directly if VRee generates any revenue yet.11:57–15:51 · Guest disagreement 2/10 Mid-Roll Sponsor Break: HostGator Web Hosting During the Famous Five, Menno jokes that no real entrepreneur sleeps eight hours, prompting Nathan to cite sleep data from over 600 interviews. Nathan also redirects Andy to provide a concrete piece of advice.15:51–16:32 · Guest disagreement 0/10 Interview Recap and Guest Farewell Host monologue summarizing Lumo Labs' capitalization and VRee's VR platform before delivering sponsor call-to-actions.1:19–6:24 · Nathan pushing back 4/10 Lumo Labs Accelerator Model and Fund Capitalization Nathan inquires about Lumo Labs' accelerator structure, probing whether they take standard 5-7% equity. Andy explains that because they invest at the pre-demo stage and offer intensive hands-on support, they take a 30% stake.6:24–9:13 · Nathan pushing back 1/10 Introducing VRee and Untethered Full-Body VR Experiences Menno details VRee's untethered full-body motion capture suit and mobile VR technology. Nathan asks clarifying questions in an engaged and collaborative manner.9:13–11:55 · Nathan pushing back 4/10 VRee Monetization Strategy, Public Grants, and VR Arcades Nathan parses the non-dilutive government grant funding and cuts through technical descriptions to ask directly if VRee generates any revenue yet.11:57–15:51 · Nathan pushing back 3/10 Mid-Roll Sponsor Break: HostGator Web Hosting During the Famous Five, Menno jokes that no real entrepreneur sleeps eight hours, prompting Nathan to cite sleep data from over 600 interviews. Nathan also redirects Andy to provide a concrete piece of advice.15:51–16:32 · Nathan pushing back 0/10 Interview Recap and Guest Farewell Host monologue summarizing Lumo Labs' capitalization and VRee's VR platform before delivering sponsor call-to-actions.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 71.2% · guest 28.8%0:00 · Nathan 71.2% · guest 28.8%3:00 · Nathan 25.6% · guest 74.4%3:00 · Nathan 25.6% · guest 74.4%6:00 · Nathan 25.9% · guest 74.1%6:00 · Nathan 25.9% · guest 74.1%9:00 · Nathan 21% · guest 79%9:00 · Nathan 21% · guest 79%12:00 · Nathan 69.3% · guest 30.7%12:00 · Nathan 69.3% · guest 30.7%15:00 · Nathan 76% · guest 24%15:00 · Nathan 76% · guest 24%
Sharpest disagreement ▶ 13:53 Playful challenge on entrepreneur sleep habits

Menno and Andy scoff at the concept of eight hours of sleep, arguing anyone saying yes on the podcast is the wrong kind of guest.

 Hardest push from Nathan ▶ 15:40 Host demands a concrete life lesson

When Andy gives a rambling response about wanting a mentor, Nathan interrupts to insist on a concrete, actionable takeaway for a 20-year-old listener.

 Biggest teaching moment ▶ 2:42 Explaining the 30% European pre-seed equity model

Andy corrects Nathan's assumption of a 5-7% Techstars/YC model, explaining they require 30% due to extremely early-stage European market realities and extensive hands-on operational work.

 Nathan holds their own ▶ 14:02 Citing proprietary dataset on founder sleep

Nathan counters the guests' assumptions about startup sleep by citing patterns across 600+ interviews showing sleep correlates with capital raised rather than revenue efficiency.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Lumo Labs Accelerator Model and Fund Capitalization 5314 Nathan inquires about Lumo Labs' accelerator structure, probing whether they take standard 5-7% equity. Andy explains that because they invest at the pre-demo stage and offer intensive hands-on support, they take a 30% stake.
Introducing VRee and Untethered Full-Body VR Experiences 3411 Menno details VRee's untethered full-body motion capture suit and mobile VR technology. Nathan asks clarifying questions in an engaged and collaborative manner.
VRee Monetization Strategy, Public Grants, and VR Arcades 4314 Nathan parses the non-dilutive government grant funding and cuts through technical descriptions to ask directly if VRee generates any revenue yet.
Mid-Roll Sponsor Break: HostGator Web Hosting 4223 During the Famous Five, Menno jokes that no real entrepreneur sleeps eight hours, prompting Nathan to cite sleep data from over 600 interviews. Nathan also redirects Andy to provide a concrete piece of advice.
Interview Recap and Guest Farewell 0000 Host monologue summarizing Lumo Labs' capitalization and VRee's VR platform before delivering sponsor call-to-actions.

Statements from this episode (4)

Disclosure
Lürling: Lumo Labs takes a 30% equity stake in startups
“We've taken a substantial part as it is, we are really talking about early States companies, which either only have a demo or not even a demo. We take 30% off the shares.”
Andy Lürling Mar 20, 2017 ▶ 2:49
Disclosure
Lürling acts as CEO for two of Lumo Labs' portfolio companies
“I totally understand, and that's more or less also what I do in, in at this .2 of the three companies we invest in, where I currently are the chief executive officer. [363] Nathan Latka: This is Willow VR studios free and bike clip, right? [367] Andy Lürling: …”
Andy Lürling Mar 20, 2017 ▶ 5:51
Disclosure
Lürling: VRee has raised slightly under €500k in seed funding and grants
“It's our first round plus a grant from the government which in, in total is a bit less than half a million.”
Andy Lürling Mar 20, 2017 ▶ 9:19
Assertion Not checkable as stated
Latka: More Capital Raised Correlates with Less Sleep, Not Revenue
“The only correlation I found so far between Sleep and startups is the more money you've raised, the less sleep you get. That doesn't correlate back to revenue at all though.”
Nathan Latka Mar 20, 2017 ▶ 14:22
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