Monthly people move spotlight: Michael Podolny joins Sidley Austin
Michael Podolny. Photo illustration: Axios Visuals. Photo: Sidley Austin
Michael Podolny joined Sidley Austin as a partner in the firm's emerging companies and venture capital (ECVC) practice based in Palo Alto.
Why it matters: Sidley is expanding its ECVC practice, anticipating a rebound in emerging company work.
Zoom in: Venture capital fundraising activity is looking optimistic in 2025 and is expected to surpass 2024 levels, according to a PitchBook report.
- "My practice is interesting in that when things are good, it's busy, and when things are bad, it's also very busy," Podolny says.
Catch up quick: Podolny joins from Latham & Watkins, where he advised companies like Canva, Discord and Grammarly.
State of play: Podolny touts cross-border practice and says physical clients are becoming less common.
- "It's less of two founders in the garage," he says. "Now it's more two founders that found each other somehow through the universe."
- Closing a deal in a real room is disappearing, and Podolny says negotiating a multibillion-dollar deal over Zoom requires an entirely different skill set.
🗣 What he's saying: "I'm seeing AI helping founders scale much more efficiently. It's making things a lot quicker and easier, and things move through the cycle a lot faster."
By the numbers: The share of solo founders more than doubled over the past decade — reaching 35% at the end of 2024 — according to Carta after analyzing startups on its platform.
- Two-person teams made up the largest share at 37%.
Yes, but: Podolny says having more than one co-founder in Silicon Valley is still very valuable.
🍽️ Content plate: Podolny likes to unwind with the "cheesy reality shows on Netflix." Most recently he consumed, "Love Is Blind."
