How Government Policy Shapes VC-Backed Startups: Lessons from Softbank | Bruce Andrews

How Government Policy Shapes VC-Backed Startups: Lessons from Softbank | Bruce Andrews

Author: Paige Soya March 27, 2025 Duration: 34:45

When choosing to invest in a company, there are a lot of elements for VCs to consider—and government policy is no exception. Today on High Stakes, we explore the role of government policy in venture capital and its impact on the industry. Joining Paige Soya to break it all down is Bruce Andrews, who has spent the last 30+ years at the intersection of business, public policy, and politics. Over his career, he’s occupied a range of consequential roles, both in government and commerce, from Deputy Secretary of the US Department of Commerce to Vice President for Global Public Policy at SoftBank. Bruce unpacks the ways government policies affect VCs, how a change in administration can impact startups, and what companies should do to prepare. He sheds light on his time at SoftBank and what it taught him about the VC industry before expanding on how the company helped startups by giving them access to government affairs experts. We also hear Bruce’s reflections on failure and success, his advice to listeners, and more. Join us for a fascinating exploration of government policy and its impact on the industry of venture capital!

Key Points From This Episode:

  • Bruce’s background in government and commerce and his time at SoftBank.
  • How American policies compare with regulatory approaches in other countries, like China.
  • Challenges SoftBank successfully navigated when working with the US government.
  • Predictions for the new administration: potential regulatory changes and their effects.
  • How SoftBank helped companies by giving them access to a government affairs team.
  • What Bruce considers his biggest failure in the VC industry and what he learned from it.
  • Final thoughts from Bruce and the best advice he has ever gotten: “Be nice to everyone.”

Links Mentioned in Today’s Episode:


Behind every major innovation, there's usually a risky bet and a tense conversation that made it happen. High Stakes pulls back the curtain on those pivotal moments by focusing squarely on the world of early-stage venture capital. Instead of abstract theory, each conversation pairs a founder who has lived the grind with an investor who has backed the vision, creating a dynamic and often revealing dialogue. They tackle the specific trends and tough questions shaping the venture space right now, from evaluating a team's potential to navigating a market downturn. You'll hear the nuanced strategies, the candid mistakes, and the real-world compromises that define building and funding a company from the ground up. This podcast is built for anyone curious about the mechanics and human drama of startup investing, offering a genuine sense of how capital flows to ideas and what it truly takes to succeed. Tune in for unscripted perspectives that clarify how high-risk decisions are made and what both sides learn when the stakes are at their absolute highest.
Author: Language: en-us Episodes: 64

High Stakes
Podcast Episodes
Proactive Investment Exit Strategies: Insights from Marcus Brauchli [not-audio_url] [/not-audio_url]

Duration: 30:34
In episode 12 of High Stakes, Paige Soya, Managing Director of K Street Capital, interviews Marcus Brauchli, co-founder of North Base Media and former managing editor at the Wall Street Journal, on the intricacies of inv…
Industry Dive's Expansion Strategy and Exit with Founder Sean Griffey [not-audio_url] [/not-audio_url]

Duration: 24:34
In Episode 11 of High Stakes, Paige Soya interviews Sean Griffey, CEO of Industry Dive. Griffey discusses Industry Dive's journey from bootstrap beginnings to a company with $100 million in revenue and over 400 employees…
Exit Strategy: Insights from Serial Entrepreneur Rami Essaid [not-audio_url] [/not-audio_url]

Duration: 24:54
In this episode of High Stakes, host Paige Soya chats with serial entrepreneur Rami Essaid about his journey founding, scaling, and ultimately exiting three successful companies. From paying his way through college selli…
From HODL to Hindsight: A Roller Coaster Ride in Cannabis Investing [not-audio_url] [/not-audio_url]

Duration: 35:06
Explore the intersection of risk and reward in the cannabis industry with Mark Smith's candid account of one of his earliest investments. From early optimism to unexpected challenges, Mark shares the valuable lessons he…