Joel Palathinkal welcomes Bibash Mukhopadhai to discuss the significance of market cycles in venture capital. Bibash shares his journey, highlighting the role of mentorship and the impact of his upbringing and education on his success. They delve into his early entrepreneurial experiences and transition to academia and venture investing. Bibash offers advice for PhD students, drawing parallels with venture capital, and shares insights from his time at NEA on raising capital. The conversation includes tips for new analysts and associates, fund differentiation strategies, and engaging LPs. They also discuss succession planning, compensation dynamics, GP stakes, and decision-making in venture capital. The episode concludes with closing remarks and appreciation. 333624 (0:00) Introduction and the importance of market cycles and venture capital (0:43) Introduction to guest Bibash Mukhopadhai (1:13) Bibash Mukhopadhai's background and Sound Bio Ventures (3:10) Career journey and the role of mentorship in venture capital (5:08) Bibash's upbringing and education's role in his success (7:53) Early entrepreneurial experiences and lessons learned (15:22) Transition to an academic career and venture investing (20:21) Advice for PhD students and parallels with venture capital (27:38) Raising capital and lessons from NEA (30:23) Tips for new venture capital analysts and associates (33:16) Strategies for differentiating funds and engaging LPs (36:48) Succession planning and retention in VC firms (41:46) Compensation dynamics in venture capital (47:02) GP stakes, decision-making, and capital trade-offs (51:33) Closing remarks and appreciation (52:05) Episode sign-off