Learn the Lingo VCs Actually Use | Paige Soya, Nick Duafala, & K Street Capital

For years, founders and investors have used terms like “fintech,” “SaaS,” and “platform” without always having a shared definition. But as venture firms rely more heavily on data to track deals, returns, and portfolio performance, getting that language right matters more than ever.In this episode of High Stakes, Paige Soya and Nick Duafala are joined by K Street Capital’s Joseph Whang and Jose Cifuentes for a Venture Capital 101 breakdown of how VCs classify the startups they evaluate.Using real-world examples from Salesforce, Airbnb, Facebook, and Auth0, the team walks through the eight categories that make up K Street’s internal deal taxonomy, why consistent classification matters, and how founders can use the same framework to better understand, and communicate, their businesses.In this episode:The eight categories we use to classify startupsWhy a company’s industry and its customer’s industry aren’t necessarily the sameHow B2B, B2C, B2G, and dual-use define customer typeWhy go-to-market motion—direct, enterprise, product-led, or channel—matters to investorsHow VCs think about business and revenue modelsThe difference between product type and technology category, and why AI increasingly cuts across bothWhat separates a true platform from a suite of products or servicesHow K Street uses AI internally to keep deal data consistent and comparableWhether you’re a founder refining your fundraising narrative or a new investor learning the language of venture capital, this episode is a practical guide to how VCs actually think about and categorize the companies they evaluate.Topics: Venture Capital • Startup Fundraising • Startup Taxonomy • Business Models • Go-to-Market Strategy • SaaS • Marketplaces • Venture Investing • Founder Advice • Startup StrategyTimestamps00:00 – Cold open: The data problem behind bad taxonomy00:58 – Welcome to High Stakes: VC 10102:04 – Meet the deal team: Joseph & Jose05:09 – The 8 categories of startup taxonomy05:50 – Category 1: Industry06:52 – Verticals within industries + the “customer industry” mistake11:27 – Category 2: Customer type (B2B/B2C/B2G) & market characteristics12:26 – Dual-use, government contracting & defense tech14:37 – Category 3: Go-to-market strategy19:19 – Category 4: Business model & revenue model21:44 – Can a services business be venture-backable?26:19 – Category 5: Product type28:16 – Category 6: Technology (AI, quantum, space & robotics)32:01 – How K Street uses AI internally for deal data36:11 – What makes something a true “platform”?38:03 – Rapid fire: Hidden talents, biggest mistakes & best advice41:01 – Final thoughts