Every startup is a bank--or wants to be

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week we did something just a little bit new. Kate was in studio at TechCrunch's SF HQ. Alex was in his dork cave in Providence. And we had a guest in the studio as well. We've done similar setups before, but never with video all around. So, welcome to a slightly new chapter in Equity's production history (all praise to Chris for making it work, video will be out today on TechCrunch's YouTube page). Our guest this week was the excellent Sarah Smith from Bain Capital Ventures. Before she turned to writing checks, Smith worked for both Quora and Facebook. Her fun fact? She's an avid and competitive player of board games.

Equity is TechCrunch’s venture capital podcast. In each episode, you'll hear the stories behind the money that runs Silicon Valley. TechCrunch reporter Alex Wilhelm teams up with Danny Crichton and the most notable VCs in the industry to analyze who's raising, who's selling out and who's going public.