Introduction

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Wednesday show, where we niche down to a single person, think about their work, and unpack the rest.

In this episode, Natasha Mascarenhas interviewed Vijay Chattha, a startup comms leader with over 20 years of experience in the storytelling world. Chattha is the CEO and founder of VSC and founding partner of VSC Ventures, a $21 million investment vehicle to back startups.

How Clients Reacted to the Downturn

Natasha asked Chattha about how his clients are reacting to the downturn in terms of their openness, vulnerability, and general hunger to tell their story. Chattha shared that some clients are more cautious than ever before, while others are more eager to share their stories. He emphasized the importance of understanding each client’s unique situation and tailoring the approach accordingly.

The Downturn and its Impact on Tech PR

  • Clients are becoming increasingly cautious about sharing their stories.
  • Some clients are open to vulnerability, while others prefer a more traditional approach.
  • The key is to understand each client’s unique situation and tailor the approach accordingly.

Pitching VCs vs. Journalists

Natasha also asked Chattha about the difference between pitching a VC and pitching a journalist. Chattha explained that pitching a VC is often a straightforward process, while pitching a journalist requires a more nuanced understanding of their needs and preferences.

Key Differences Between Pitching VCs and Journalists

  • Pitching VCs:
    • Focus on the business side
    • Highlight key metrics and achievements
    • Emphasize the potential for growth and return on investment
  • Pitching Journalists:
    • Focus on storytelling and narrative
    • Highlight unique aspects of the company or product
    • Emphasize the human interest angle

The Importance of Disclosing Valuations

Natasha brought up the topic of disclosing valuations, which Chattha believes is a contentious issue. He argued that startups should be transparent about their valuations but acknowledged that it can be a sensitive topic.

The Debate Around Disclosing Valuations

  • Arguments for disclosure:
    • Transparency builds trust with investors and partners
    • Disclosure can help set realistic expectations
    • It’s essential for maintaining a healthy ecosystem
  • Arguments against disclosure:
    • Startups may be hesitant to share sensitive information
    • Valuations can fluctuate, making it difficult to disclose accurate numbers
    • Some startups may feel that disclosure gives away too much power to investors

The Best Framework for Media Coverage

Natasha asked Chattha about the best framework for media coverage, and he shared his insights on the different types of media forms.

Understanding the Various Types of Media Forms

  • Twitter:
    • Focus on brevity and simplicity
    • Highlight key points and achievements
    • Engage with followers and respond to comments
  • Billboards:
    • Focus on visual impact and attention-grabbing headlines
    • Highlight unique aspects of the company or product
    • Emphasize the importance of storytelling
  • Earned Media:
    • Focus on building relationships with journalists and influencers
    • Highlight key metrics and achievements
    • Emphasize the importance of transparency and authenticity

The #MeToo Movement and its Impact on Leadership Styles

Natasha asked Chattha about how the #MeToo movement has impacted leadership styles, and he shared his thoughts on the changing landscape.

The #MeToo Movement and its Impact on Leadership Styles

  • Increased accountability:
    • Leaders are held to higher standards of behavior
    • Incidents of misconduct are taken more seriously
    • Companies are more proactive in addressing issues
  • More emphasis on diversity and inclusion:
    • Companies prioritize diversity and inclusion in hiring practices
    • Leadership styles become more empathetic and understanding
    • Employees feel more comfortable speaking up about concerns

A More Transparent Ecosystem or a More Opaque One?

Natasha asked Chattha if we’re getting closer to a more transparent ecosystem, or a more opaque one. He shared his thoughts on the current state of affairs.

The State of Transparency in Tech

  • More transparency:
    • Companies are becoming more open about their practices and policies
    • Investors are demanding greater transparency from portfolio companies
    • Employees are speaking out more about issues within companies
  • Less transparency:
    • Some companies may feel pressure to maintain a facade of secrecy
    • Incidents of misconduct may be covered up or downplayed
    • The ecosystem as a whole may become less trusting and more opaque

A Lightning Round with Vijay Chattha

Natasha ended the episode with a lightning round, asking Chattha about his biggest pet peeves with journalists.

Vijay Chattha’s Biggest Pet Peeve:

  • Lack of understanding:
    • Journalists may not fully grasp the nuances of tech and business
    • They may rely on stereotypes or assumptions rather than doing their own research
    • This can lead to inaccurate or misleading reporting

Conclusion

The job of a tech PR professional has changed significantly in 2022. With the downturn, clients are becoming more cautious about sharing their stories, while others are eager to be vulnerable. Pitching VCs and journalists requires different approaches, and disclosing valuations is a contentious issue.

Transparency is key in today’s ecosystem, but it can be challenging to achieve. The #MeToo movement has had a lasting impact on leadership styles, emphasizing accountability and diversity. As we move forward, the question remains: are we heading towards a more transparent or opaque ecosystem?