The Capital Stack

In this conversation, venture capitalist David Paul and Greg Head of Scaling Point discuss the changing landscape of funding for startups. They explore the drawbacks of relying on venture capital (VC) funding and the benefits of bootstrapping and practical founder approaches. Greg emphasizes that VC funding is not necessary for success and that there are multiple paths to building valuable software companies. They also discuss the role of private equity in acquiring SaaS companies and the importance of profitability in the growth game. Greg offers advice to founders and invites them to connect with him for further guidance. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysVC funding is not necessary for building valuable software companiesBootstrapping and practical founder approaches can lead to successPrivate equity plays a significant role in acquiring SaaS companiesProfitability is crucial in the growth gameThere are multiple paths to success in the startup worldSound Bites"VC funding should be used in small doses only when it's really appropriate, like opioids.""VC funding is usually misunderstood by founders and overprescribed by big investors.""Getting to product market fit is the universal problem, whether you are funding it yourself or out of a service business or have a little angel funding or get to customer revenues."Chapters03:08 The Changing Landscape of Startup Funding09:15 The Drawbacks of Venture Capital Funding15:37 The Benefits of Bootstrapping and Practical Founders27:31 The Importance of Profitability in the Growth Game29:13 Multiple Paths to Success in the Startup World

Dan Soviero, founder of Signature Lacrosse, shares his entrepreneurial journey and how he built a successful sports equipment and events company with venture capitalist David Paul. He discusses the importance of hard work, discipline, and doing what you love. Dan explains how Signature Lacrosse expanded its offerings to solve the biggest problem in youth sports: ordering custom uniforms. He highlights the role of technology in streamlining the ordering process and improving the customer experience. Dan also shares his vision of getting more kids involved in sports and the impact his company is making in the industry. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysHard work, discipline, and doing what you love are key to building a successful business.Solving the biggest problem in your industry can lead to significant growth and impact.Technology, such as custom software, can streamline processes and improve the customer experience.The goal should be to get more kids involved in sports and provide them with a positive experience.Over-investing in culture and aligning the team around a shared vision can lead to a great workplace.Sound Bites"My dad was really big on us paying rent to stay at his house and to eat his food from a pretty young age. He kind of pushed us into the entrepreneurial spirit.""We have such a fulfilled life and so much fulfillment in every single day because we're doing what we love and we're making the impact that we want to make every single day.""Cash conversion cycle is king. Revenue is vanity, net income is sanity, and cash is reality."Chapters00:00 The Signature Lacrosse Journey19:06 Solving the Biggest Problem in Youth Sports26:53 Tech-Enabling the Ordering Process30:51 Lessons Learned and Impacting Youth Sports

In this conversation, David Paul interviews Jon Corrin, the co-founder of Xilo, a vertical SaaS company in the insurance industry. They discuss topics such as pipeline management, the evolution of the insurance industry, Xilo's value proposition, and their market segmentation. Jon shares insights on the importance of product development, the role of instinct in decision-making, and the significance of a strong onboarding process. He also talks about the fundraising journey and the qualities he looks for in investors. The conversation concludes with a discussion on the best business advice Jon has received and his favorite book, 'The 33 Strategies of War' by Robert Greene. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysPipeline management is crucial in the insurance industry, and Xilo has focused on automating processes and improving operational metrics to increase pipeline.Xilo's value proposition lies in providing a great customer experience on the form submission side and automating workflows into legacy back-office software.Jon emphasizes the importance of listening to customers and using instinct and gut feelings to make decisions as a founder.A strong onboarding process is essential for customer success, and Xilo provides one-on-one onboardings for each user to ensure a smooth experience.When seeking investors, Jon looks for those who can provide access to capital, talent, and customers.Jon recommends 'The 33 Strategies of War' by Robert Greene as a compelling book that combines history and business advice.Sound Bites"It's 6X what it was in Q4. So we're doing well.""You know, there are so many facets to that because I didn't come from the insurance industry.""I'm definitely the type of person that can create a funnel, handle all the operational metrics."Chapters00:00 Introduction and Podcast Room Banter02:10 Pipeline Management and Xilo's Growth06:41 Xilo's Value Proposition and Automation in the Insurance Industry10:46 Xilo's Target Market and Growth Potential15:33 Fundraising and Investor Criteria23:48 Creating a Strong Onboarding Process26:05 Book Recommendation: 'The 33 Strategies of War'

Krista Morgan, General Partner at Stage Fund, joins venture capitalist David Paul to discuss their unique approach to investing in early-stage technology companies that are unable to raise more funding. Stage Fund focuses on control acquisitions and provides a second chance for struggling companies by offering new capital and a new path forward. They often acquire distressed assets and work closely with founders to turn the companies around. Krista emphasizes the importance of alignment, accountability, and operational expertise in the success of these companies. She also discusses the challenges and opportunities in the emerging asset class of early-stage private equity. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysStage Fund specializes in control acquisitions of early-stage technology companies that are unable to raise more funding.They provide struggling companies with a second chance by offering new capital and a new path forward.Alignment, accountability, and operational expertise are crucial for the success of these companies.The emerging asset class of early-stage private equity offers opportunities for new investment strategies and approaches.Sound Bites"We are a control investor, making control acquisitions of early-stage technology companies that are unable to raise more funding.""The number of calls I get where people think they're at that place of getting a hard deal done, but actually being there are two very different things.""We really like finding value in the chaos. Like I like chaos."Chapters03:13 The Stage Fund's Approach to Investing07:11 Challenges in Getting Deals Done12:53 The Importance of Alignment and Accountability25:31 The Future of Early-Stage Tech Investing

Nathan Firth, founder and CEO of New Rocket, founder of LaunchPad San Diego, and current CCO of ShareLogic shares his journey as an entrepreneur and the success of his tech-enabled service company with venture capitalist David Paul. He emphasizes the importance of finding a niche market and specializing in one thing to become the best at it. Firth discusses the benefits of being a tech-enabled service company and how they productize their services to increase efficiency and deliver more value to customers. He also talks about the challenges of scaling a company and the lessons he learned along the way. Firth is now exploring new opportunities and investing in startups. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysFinding a niche market and specializing in one thing can lead to success as an entrepreneur.Productizing services can increase efficiency and deliver more value to customers.Scaling a company comes with challenges and requires careful allocation of resources.Exploring new opportunities and investing in startups can lead to new ventures and growth.Sound Bites"Find a niche market, specialize, and be the absolute best at doing that one thing.""Productizing our services made us more efficient and allowed us to deliver more value to customers.""Finding the right balance in company size can maintain agility and a startup culture."Chapters06:10 The New Rocket Story08:03 Niche Market and Productization14:01 Lessons in Scaling a Company

In this conversation, David Paul interviews Quentin Wendt from PadSplit, a prop-tech company that allows investors to rent out single-family homes by the room. They discuss the housing crisis, the need for affordable housing, and how PadSplit provides a solution by adding density to single-family homes. Quentin explains how the platform works, with members going through a background check and income verification to become approved tenants. The platform handles demand aggregation, collections, and communication between members and investors. They also discuss the hesitation and pushback from investors and municipalities, as the concept of shared housing is still relatively new in the US. PadSplit offers a unique model for real estate investors to generate high returns and scale their businesses quickly. By converting single-family homes into shared living spaces, PadSplit provides affordable housing for essential workers and generates more cash flow and tax benefits compared to traditional rental properties. The company aims to solve the problem of affordable workforce housing and offers a faster and more profitable alternative to traditional real estate investments. PadSplit's model appeals to both investors and tenants, providing a win-win solution for all parties involved.TakeawaysPadSplit is a prop-tech company that allows investors to rent out single-family homes by the room, providing a solution to the housing crisis and the need for affordable housing.The platform handles demand aggregation, collections, and communication between members and investors.There is hesitation and pushback from investors and municipalities due to the unfamiliarity of shared housing in the US.PadSplit's model allows investors to add density to single-family homes, increasing revenue and providing affordable housing options for low-income individuals.The platform is still in its early stages, but early adopters are finding success and building portfolios of income-producing properties. PadSplit offers a unique model for real estate investors to generate high returns and scale their businesses quickly.By converting single-family homes into shared living spaces, PadSplit provides affordable housing for essential workers.PadSplit generates more cash flow and tax benefits compared to traditional rental properties.The company aims to solve the problem of affordable workforce housing and offers a faster and more profitable alternative to traditional real estate investments.Chapters03:44 Introducing Quentin and PadSplit07:30 What is PadSplit?09:23 The Housing Crisis and Affordable Housing12:02 Challenges in the Real Estate Market20:13 Hesitation and Pushback in the Market23:58 How the PadSplit Platform Works26:06 The Importance of Property Managers26:43 PadSplit: A Unique Model for Real Estate Investors29:56 Solving the Problem of Affordable Workforce HousingSound Bites"PadSplit is a five-year-old startup that allows investors to take single-family houses and add density by renting by the room.""PadSplit has almost 12,000 units across 20 markets in the country, and our hockey stick curve is starting.""PadSplit is a cashflow machine that allows investors to offset negative cashflow from other real estate investments.""It's a really fast way to scale your business because the returns are typically 2 and 1 half to 3 times returns on a normal long-term investment.""Does it break

In this conversation, David Paul and Matt Ekstrom - an executive with over 10+ years in sales and marketing within the HR tech space discuss various topics related to HR tech, sales enablement, and the challenges faced in these industries. They talk about the evolution of HR tech and its impact on employee onboarding and hiring experience. They also discuss the parallel between sales enablement and HR tech, the challenges of outbound sales, and the future of email marketing. Matt shares his favorite book and the best piece of business advice he has received. You can watch/listen to the podcast on YouTube, Spotify, and Apple.Chapters00:00 Introduction and Cold Open08:07 The Parallel Between Sales Enablement and HR Tech12:01 The Challenges of Outbound Sales16:00 The Future of Email MarketingTakeawaysHR tech has not significantly improved the employee onboarding and hiring experienceThe HR tech industry continues to fracture and expand with new companies and solutionsSales enablement tools and strategies are evolving, with a focus on content creation and audience targetingThe future of sales is uncertain due to email deliverability challenges and the need for new outreach methodsKnowing what you don't know and being humble about it is important in businessSound Bites"No, no, absolutely not. And I don't, I really don't sit this at the feet of the entrepreneurs or those companies necessarily.""The technology can only do so much for that experience. It's up to the recruiters as well and the hiring managers to put the effort in as well.""The inbound method is no longer a thing, right?"

In this conversation, David Paul interviews Seth Merritt, the founder of Welby Health, about value-based care in the healthcare industry. They discuss the challenges of implementing value-based care initiatives, the need for innovation in the healthcare system, and the difficulties faced by providers and payers. Seth shares his journey as an entrepreneur and the lessons he learned about raising capital and finding the right investors. Overall, the conversation highlights the complexities of the healthcare industry and the importance of finding solutions that work for both providers and payers. In this conversation, Seth Merritt discusses his experience with raising capital and the challenges of managing money in a startup. He emphasizes the importance of delivering value to investors and being thoughtful about the use of capital. Seth also shares his perspective on the changing dynamics of the market and the need for startups to focus on profitability and differentiation. He highlights the importance of stewardship and the long-term commitment required in the startup journey. Seth concludes by discussing his excitement about the future of his company, Welby Health, and the opportunities for growth and scaling. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysImplementing value-based care initiatives is challenging due to the complexities of the healthcare system and the resistance to change.Innovation in healthcare is necessary to improve patient outcomes and reduce costs, but it requires understanding the nuances of the industry.Finding the right investors and partners is crucial for the success of a healthcare startup, as they provide not only capital but also guidance and support.The healthcare industry needs solutions that work for both providers and payers, considering their different needs and constraints. Delivering value to investors is crucial in the startup journey.Being thoughtful about the use of capital and focusing on profitability are essential for long-term success.Differentiation and demonstrating real value are more important than just having a great idea or pitch.Stewardship and a long-term commitment are necessary to navigate the challenges of the startup world.Scaling a startup requires managing costs, finding the right talent, and charging what the company is worth.Sound Bites"We were dealing with a lot of health systems and larger providers and administrative pieces of the organization versus the individual doctor working in his office and the patient who has hypertension and diabetes, they were just sort of like numbers on a chart.""Everyone complains about healthcare spending, but no one's really putting their money where their mouth is, you know, and trying to do anything about it.""You're asking doctors on their 2% margin to go pay for something else, even if it's the best thing ever, it's just not gonna happen.""The only thing contractually that VCs have to do is why are you money?""Sometimes you just need the person that believes in you, right? Even if it is a dick.""This idea is actually real. That gave me like a little bit of push."Chapters07:22 The Need for...

In this conversation, David Paul interviews Nick Steinwachs about the challenges and opportunities in the healthcare industry. They discuss the importance of customer empathy, the role of founders in healthcare startups, and the need for innovative solutions. They also touch on the difficulties of commercializing healthcare products and the importance of market validation. Nick shares his insights on finding a product-market fit and navigating founder bias. Overall, the conversation highlights the complexities of the healthcare industry and the importance of understanding customer needs. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysCustomer empathy and subject matter expertise are crucial in building successful healthcare products.Commercializing healthcare products can be challenging due to regulatory issues and the need for buy-in from healthcare providers.Shifting the market conversation can be more effective than trying to retool a product that is not resonating with customers.Founders should listen to their market and be willing to let go of their solutions to address the real problems.Market validation is important, and founders should focus on usability, feasibility, viability, and value in their product development process.Chapters00:00 Introduction and Background02:26 The Importance of Customer Empathy08:21 Challenges in Commercializing Healthcare Products14:51 Shifting the Market ConversationKeywords- healthcare, startups, customer empathy, product-market fit, commercialization, market validation, founder bias29:12 The Role of Market Validation

In this episode, David Paul interviews Lisa Diaz, the founder of Turf Advisory, about the construction industry and the need for infrastructure investment. They discuss the challenges of government prioritization, the role of general contractors and subcontractors, and the low margins in the construction industry. They also explore the potential of construction technology to increase margins and address pain points in the industry. Lisa emphasizes the importance of integrating and connecting different systems and the need for standardization in construction. She also shares her excitement about using digital twins for infrastructure assessment and the opportunity for infrastructure repair. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysThe construction industry is in need of infrastructure investment to address deteriorating infrastructure and meet the growing demand for housing and transportation.Government prioritization of infrastructure projects is influenced by politics and the most pressing needs, often resulting in a shortage of funding for necessary repairs and upgrades.Construction technology has the potential to increase margins in the industry by improving efficiency and addressing pain points such as labor tracking and material delivery.The adoption of construction technology faces challenges such as resistance to change and the need for standardization and integration among different systems.Chapters01:05 The Need for Infrastructure Investment03:09 The Importance of Infrastructure to Joe Biden04:15 Improving Infrastructure in New York City05:19 Bidding and Contracting in the Construction Industry06:13 Different Types of Construction and Contractors07:38 The Role of General Contractors and Subcontractors08:33 The Transition to Design-Build Contracts09:20 Low Margins in the Construction Industry10:17 Increasing Margins with Construction Technology11:46 The Challenges of Construction Technology Adoption13:02 Using Technology to Track Labor and Materials14:53 Addressing Pain Points in Construction16:15 The Importance of Integration and Connectivity19:12 Regulatory Changes and Pain Points in Construction20:40 Using Digital Twins for Infrastructure Assessment23:16 The Need for Standardization in Construction27:17 The Opportunity in Infrastructure Repair29:38 Contacting Lisa Diaz and Turf Advisory

In this conversation, David Paul interviews Pete Colligan, the CTO of Ariba Business Networks. They discuss various topics related to leadership, innovation, and hiring in the corporate world. Pete shares his experiences and insights on structuring teams, driving innovation in a large company, navigating change management, and conducting effective interviews. He emphasizes the importance of building a strong team, setting clear goals, and creating a supportive onboarding process for new hires. Pete discusses his concerns and excitement in the world of technology, including the benefits of modern tools in coding productivity and the modern data stack. He also explores the challenges and opportunities in team building in the post-COVID era. The conversation touches on the importance of making choices in strategy and the ongoing debate between platforms and best-in-class solutions. Peter shares his recommendations for influential leadership books and resources, emphasizing the value of learning from leaders and building bridges to get things done. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysBuilding a strong team is crucial for success in any project or organization.Innovation in a large company requires curiosity, initiative, and the ability to build credibility and trust.Change management is essential when implementing new initiatives, and it involves creating a clear vision, aligning stakeholders, and setting expectations.Effective hiring involves being intentional about the desired culture and skills, using situational questions to assess candidates, and ensuring a smooth onboarding process.Modern tools incorporating breakthroughs in large language models can greatly enhance coding productivity.The modern data stack, including tools like Snowflake, offers easier data collection, transformation, and analysis.Team building in the post-COVID era requires understanding the impact of remote work and finding ways to maintain effective collaboration.Making choices and building bridges are crucial skills in strategy and leadership.Chapters02:10 The Importance of Team and Leadership05:27 Driving Innovation in a Large Company07:04 Structuring and Leading Complex Projects10:03 Navigating Change Management and Reputational Risk13:29 Effective Hiring and Onboarding25:03 Conducting Effective Interviews26:00 Areas of Concern and Excitement in Technology27:19 Benefits of Modern Tools in Coding Productivity29:15 Team Building in the Post-COVID Era30:27 Understanding the Data Stack34:21 Platforms vs. Best-in-Class Solutions38:32 The Importance of Making Choices in Strategy40:28 Learning from Leaders and Building Bridges

Vickram Pradhan, an investor at Sopris Capital, joins venture capitalist David Paul to share his background and experience in investing, as well as his role at Sopris. He discusses the importance of building relationships with portfolio companies and providing operational expertise. Vickram also highlights the advantages of Sopris' capital allocation strategy and the flexibility it offers. He explores the growth of tech-enabled services in healthcare and the challenges of differentiating between tech-enabled services and SaaS companies. Vickram concludes by discussing the decentralization of healthcare and the increasing demand for personalized care and ownership of healthcare decisions. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysBuilding relationships and providing operational expertise are crucial in early-stage investing.Flexibility in capital allocation strategy allows for better alignment with portfolio companies.Tech-enabled services in healthcare offer opportunities for growth and disruption.The decentralization of healthcare and the increasing demand for personalized care are emerging trends.Reading quarterly letters from hedge funds can provide valuable insights into pricing risk and investment strategies.Chapters02:23 Background and Experience03:24 Foray into Investing and Role at Sopras Capital04:37 Relationship with Sopras Capital05:30 Investment Advice from Andy06:41 Navigating Challenges in Early Stage Investing07:14 Managing Anxiety and Frustration09:21 Founder Buy-In on Operational Expertise09:38 Differentiation in Capital Allocation Strategy14:34 Flexibility in Entry and Exit Strategies15:48 Challenges of Overcapitalization19:22 Tech-Enabled Services vs. SaaS22:52 Decentralization of Healthcare26:11 Shift in Healthcare Awareness and Ownership28:26 Demand for Additional Healthcare Tests30:10 Advanced Practice Providers in Healthcare32:23 Favorite Investors and Reading Recommendations

Jerry Colonna, executive and life coach of Reboot.io, discusses the importance of personal growth and self-inquiry for startup founders. He shares his own journey of rebooting and how it led him to become a coach. Colonna emphasizes the need for founders to confront their own brokenness and take responsibility for their actions. He also explores the challenges faced by investors and the need for empathy and self-soothing in the startup ecosystem. Jerry Colonna discusses the state of investing and the need for a shift in focus from financial returns to building meaningful relationships. He shares the genesis of his work with Reunion and the importance of personal growth and being a better human. Jerry also explores the impact of systematic racism and oppression, as well as the fear of the other in society. He emphasizes the moral responsibility of business leaders to address these issues and create positive change. The conversation concludes with a discussion on the next iteration of Jerry's work and the importance of asking meaningful questions. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysPersonal growth and self-inquiry are essential for startup founders to navigate the challenges of entrepreneurship.Confronting one's own brokenness and taking responsibility for one's actions is a crucial step in personal growth.Investors should lead with empathy and self-soothe their own anxieties to create a healthy and supportive environment for founders.The startup ecosystem needs to address systemic issues and lower expectations to foster a more realistic and sustainable approach to entrepreneurship. Investing should focus on building meaningful relationships rather than solely pursuing financial returns.Personal growth and being a better human are essential for effective leadership.Systematic racism and oppression must be acknowledged and addressed.Business leaders have a moral responsibility to create positive change in society.Chapters03:20 Rebooting and Radical Self-Inquiry08:57 Reunion and Personal Growth16:05 The Importance of Painful Work25:15 The Role of Investors in Founder Dishonesty27:48 The Systemic Issues in Startup Culture29:09 The State of Investing30:06 The Importance of Relationships31:15 The Genesis of Reunion33:03 A Pointing Out Instruction34:29 Systematic Racism and Oppression36:00 Fear of the Other37:00 Radical Self-Inquiry and Leadership39:08 Attacking Ideologies and the Real Problems40:30 The Moral Responsibility of Business Leaders42:22 The Next Iteration of Jerry's Work

In this episode, Al Doan, the founder of the Missouri Star Quilt Company turned investor at Rolling Fun, shares his journey as an entrepreneur and investor. He discusses starting the quilt company as a way to support his mother and how it grew into a successful business. He also talks about his transition out of the company and his ventures into tech startups, investing, and real estate. Al shares his passion for revitalizing small towns and his experiences as a founder, including the challenges and sacrifices involved. He emphasizes the importance of finding happiness and fulfillment beyond financial success. In this conversation, Al Doan discusses the importance of setting realistic goals and reflecting on past aspirations. He emphasizes the need to adjust goals as one grows and changes. Al also shares advice for his younger self, encouraging patience and a focus on personal fulfillment. He highlights the value of learning from failures and frustrations. Additionally, Al discusses finding joy in the journey and the importance of enjoying the process. He shares his reading preferences and talks about his exciting projects for the year, including involvement in local politics and exploring various hobbies and trades. You can watch/listen to the podcast on YouTube, Spotify, and Apple.Chapters00:48 Starting the Missouri Star Quilt Company02:16 Transitioning out of the Quilt Company03:13 Starting Let's Make Art04:33 Venturing into Tech Startups05:01 Investing and Real Estate09:24 Revitalizing Small Towns10:35 Balancing Work and Family12:14 The Therapeutic Catharsis17:52 Stepping Back from the CEO Role20:14 Finding a New CEO22:44 The Challenges of Being a Founder23:10 The Happiness of Founders25:30 The Cost of Being a Founder28:19 The Addiction to Validation29:17 The Illusion of the Finish Line30:58 The Ego-Driven Nature of Founders32:06 The Loneliness of Founders33:27 The Difficulty of Letting Go33:45 Setting Unrealistic Goals36:06 Reflecting on Past Goals36:18 Advice for Younger Self39:30 Lessons Learned: Patience and Timing41:37 Finding Joy in the Journey44:36 Reading Preferences45:30 Exciting Projects for the Year45:53 Interest in Local Politics46:47 Exploring Lost Trades and Hobbies

On this episode with host David Paul, John Lott, CEO of Predicate Wealth Managers, shares his insights and experiences in the world of finance and entrepreneurship. He emphasizes the importance of operating skills and the potential of digital currencies. John also discusses the challenges in the private equity market and the significance of alignment between investors and founders. He shares his personal journey of transitioning to entrepreneurship and building a successful business with his wife. John's passion lies in helping others find their purpose and achieve success, which led him to develop the 8-Block Method. Overall, this conversation provides valuable lessons and perspectives for both investors and entrepreneurs. In this conversation, the principal themes revolve around finding passion, sustaining motivation, and the resilience of entrepreneurs. The guests emphasized the importance of pursuing something one is truly passionate about, as it provides the necessary drive to overcome challenges. They discuss the idea that everyone has a plan until they face adversity, highlighting the need for resilience in entrepreneurship. The conversation concludes with closing remarks and a call to action for listeners to subscribe, share, and leave reviews. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysOperating skills are crucial for success in business, and they are often more valuable than finance skills.The private equity market is not always efficient, and success depends on the alignment between sponsors and management teams.Effective communication and collaboration are essential for building successful partnerships between investors and founders.Working with a spouse as a business partner can be challenging but can also lead to personal and professional growth.The 8-Block Method is a framework for finding purpose and achieving success in life and business.Chapters00:00 Introduction and Background02:09 The Importance of Operating Skills03:25 The Potential of Digital Currencies05:25 Challenges in the Private Equity Market07:41 The Importance of Alignment Between Investors and Founders09:07 Effective Communication and Collaboration11:04 Transitioning to Entrepreneurship14:28 Lessons from Building a Successful Business17:55 Working with a Spouse as a Business Partner23:19 Starting Predicate Wealth Managers25:37 The 8-Block Method and Building a Legacy40:47 How to Learn More about the 8-Block Method43:31 Finding Passion and Sustaining Motivation44:01 The Resilience of Entrepreneurs

Maya Watson, co-founder of Manual, discusses her background working for companies like Netflix and Oprah Winfrey, as well as her experience during the rise and fall of Clubhouse. She explains the genesis of Manual and its mission to help individuals understand themselves better and create a more flexible and fulfilling work experience. Maya highlights the challenges with traditional learning and development (L&D) programs and the need for a more personalized and contextual approach. She shares the company's plans for the future and how leaders can implement Manual in their organizations. Maya also reflects on her time working for Oprah Winfrey and the lessons she learned from the media mogul. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysManual is a platform that helps individuals understand themselves better and create a more flexible and fulfilling work experience.Traditional learning and development (L&D) programs often lack context and fail to address the individual needs of employees.The future of work is shifting, and tools like Manual can help individuals navigate this transition and find meaningful work.Leaders can implement Manual by leading by example, creating their own manuals, and encouraging their teams to do the same.Chapters01:08 - The Rise and Fall of Clubhouse03:00 - The Intersection of Factors06:14 - Introduction to Manual07:32 - The Genesis of Manual10:22 - The Problem with L&D14:09 - The Product and Company Today24:09 - Future Plans for Manual30:01 - Implementing Manual in the Workplace33:43 - Working for Oprah Winfrey

Brian Miller, Partner at Bloom Venture Partners, discusses the secondary market for private company shares and the challenges and opportunities it presents. He explains the difference between primary and secondary markets and how secondary transactions work. Brian also discusses the controversy surrounding Carta and the importance of secondaries for both employees and investors. He highlights the restrictions on selling equity and the treatment of early-stage investors. Brian shares his optimism for the future of the market and emphasizes the importance of trust and differentiation in the industry. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysThe secondary market involves the transaction of shares that have already been issued by a private company.Companies and investors use the secondary market to provide liquidity to shareholders who want to sell their shares.The Carta controversy highlighted the misuse of customer information and led to the shutdown of their secondary business.Companies have different views on secondaries, with some seeing it as a positive benefit for employees and others concerned about control and optics.The majority of secondary transactions occur in later-stage companies that no longer need to raise capital.Chapters06:02 - Primary and Secondary Markets07:30 - How Secondary Transactions Work11:33 - The Carta Controversy14:09 - Importance of Secondaries for Employees and Investors18:46 - Restrictions on Selling Equity20:03 - Treatment of Early-Stage Investors23:34 - Current State of the Market25:52 - Majority of Transactions in Later Stage Companies26:27 - Challenges in the Secondary Market28:03 - Differentiation and Trust in the Industry29:12 - Personal Excitement and Future Outlook

In this episode, host David Paul interviews Rahul Sidhu, the founder and CEO of Aerodome, a drone company for the public safety sector. They discuss the concept of Aerodome and its ability to send drones to 911 calls in an average of 98 seconds. They also delve into the regulatory challenges and waivers required for operating drones in the public safety space. Rahul shares his experience raising funding, including a seed round with 2048 Ventures and Andreessen Horowitz. They explore the intersection of American dynamism and lagging industries, as well as the importance of hardware sourcing in the United States. Rahul also discusses the progress of Aerodome and his excitement for the future of AI and robotics. The conversation concludes with a discussion on the impact of the 2024 election. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysAerodome is a drone company that sends drones to 911 calls in an average of 98 seconds, providing air support for public safety personnel.Regulatory challenges and waivers are necessary for operating drones in the public safety sector, and there is a need for innovation in this space.Raising funding for a startup like Aerodome can involve securing investments from venture capital firms like 2048 Ventures and Andreessen Horowitz.The intersection of American dynamism and lagging industries presents opportunities for innovation and growth.Hardware sourcing and supply chain regulation are important considerations for companies like Aerodome.Exciting developments in technology include advancements in AI, robotics, and the integration of AI into everyday life.The 2024 election is expected to have a significant impact on various industries and the country as a whole.Chapters03:00 - The Concept of Aerodome08:00 - Regulatory Challenges and Waivers11:00 - Raising Funding and Investors17:00 - The Intersection of American Dynamism and Lagging Industries23:00 - Supply Chain Regulation and Hardware Sourcing28:00 - Company Progress and Future Plans30:00 - Exciting Developments in Technology31:00 - The Impact of the 2024 Election

In this episode, David Paul interviews Matthew Pittinsky, the founder of Blackboard and CEO of Parchment, about his journey in the educational technology industry. They discuss the genesis of Blackboard and its role in revolutionizing the learning management system (LMS) industry. They also explore the shift from on-premises software to cloud-based solutions and the challenges faced in building a networked system of record. Pittinsky shares his insights on the current pain points in education and the value of a college degree. The conversation concludes with a discussion of favorite books and closing remarks.TakeawaysBlackboard revolutionized the LMS industry by creating a front office system for universities that facilitated instruction and learning.The shift to cloud-based solutions, exemplified by Instructure's Canvas LMS, disrupted Blackboard's on-premises model.Parchment was founded to address the need for a networked system of record that allows learners to collect and manage their academic and professional credentials.The education industry faces challenges such as fragmented technology ecosystems, math achievement gaps, teacher retention, and the perception of the value of a college degree.Chapters03:14 The Genesis of Blackboard08:00 The Shift to the Cloud12:05 The Birth of Parchment15:29 Building a Networked System of Record20:17 Adoption Challenges and Cultural Battles21:47 The Vision of Parchment23:34 Current Pain Points in Education26:18 Is College Worth It?29:55 Favorite Books

In this episode, David Paul interviews Scott Garber, Managing Director of Early Light Ventures. Scott shares his background as a former CIA operative and how he transitioned into venture capital. He discusses his investment strategy, including the importance of reading founders and identifying grit. Scott also talks about the portfolio construction and his focus on smaller exits with lower failure rates. He reflects on his beliefs that have changed over time and shares his excitement for the future. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysScott shares his background as a former CIA operative and how it has influenced his venture capital career.Reading founders and identifying grit are important factors in Scott's investment strategy.Scott focuses on smaller exits with lower failure rates in his portfolio construction.Scott's beliefs about valuations have evolved, and he now considers quality as an important factor in investment decisions.Scott is excited about the sales prospects for startups in the first half of 2024.Chapters03:57 - Transition to Venture Capital05:30 - Recruitment into the CIA07:19 - Transferable Skills from CIA to Venture Capital09:48 - Investment Strategy and Reading Founders13:16 - Early Light Ventures and Investment Thesis15:29 - Transition from Board Seats17:52 - Portfolio Construction and Miss Rates20:49 - Beliefs that Have Changed24:24 - Excitement for 202427:17 - Conclusion and Contact Information

Luke Harmon, founder and CEO of the Serendipity marketing agency, shares his startup journey and the challenges of bootstrapping a company. He discusses the importance of balancing sales and product development, as well as the need for founders to be involved in the sales process. Luke also highlights the significance of building strong relationships with clients and the value of nurturing prospects. Overall, he emphasizes the importance of revenue generation and the need for founders to understand the market dynamics and make strategic decisions. In this conversation, Luke Harmon discusses the HubSpot focus and alignment, the future of go-to-market strategies, the flipped funnel approach, and partnerships as a growth strategy. He also emphasizes the importance of considering the impact of partnerships and provides his contact information for further communication. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysBootstrapping a company requires careful financial management and a focus on revenue generation.Founders should be actively involved in the sales process and develop sales skills.Building strong relationships with clients and nurturing prospects is crucial for long-term success.Balancing product development and customer needs is a challenge that requires constant iteration and adaptation. HubSpot's focus and alignment have been instrumental in their success.The traditional funnel approach is being replaced by the flipped funnel approach in B2B SaaS.Targeted content creation and brand personality are key in the flipped funnel approach.Partnerships can be a game-changer for businesses, but careful consideration is needed.Chapters01:19 Definition of Bootstrapping03:33 Luke's Startup Journey06:18 Early Days of Employee Engagement Giving09:25 Product Development and Growth Challenges11:14 Acquisition by BlackBod15:54 Life After the Exit24:06 Serendipity Marketing Agency28:59 Balancing Sales and Product Development33:44 Qualification and Sales Coaching37:23 Building Deal Stages and Nurturing Prospects38:40 Future Outlook and Excitement38:45 HubSpot Focus and Alignment40:26 The Future of Go-to-Market Strategies42:47 The Flipped Funnel Approach43:22 Partnerships as a Growth Strategy44:21 Considering the Impact of Partnerships

In this episode, David Paul interviews Angela Lai, the founder and CEO of Betteromics. They discuss Angela's background in the tech industry and her transition to the life sciences business. They explore the intersection of biology, chemistry, big data, and AI in the field of healthcare science. Angela explains how Betteromics serves as a regulated data lake for healthcare science data, providing a system of record and interoperability for clinical discovery. They also discuss the challenges and opportunities in the life science industry, the future of pharma and personalized medicine, and the importance of transparency and storytelling in the industry. Angela shares her insights as a founder and the personal growth she has experienced in building a startup. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysThe life science industry is undergoing a transformation as biology, chemistry, big data, and AI converge.Betteromics serves as a regulated data lake for healthcare science data, providing a system of record and interoperability for clinical discovery.The life science industry faces challenges in data fragmentation, data governance, and the need for more efficient and predictable drug development.Specialty pharma medicines, personalized medicine, and biologics are the future of the industry.Founding a startup requires versatility, problem-solving skills, and a willingness to learn and adapt.Chapters02:08 Transition from Google to Grail to Betteromics03:32 The Intersection of Biology, Chemistry, Big Data, and AI06:06 Betteromics as a Regulated Data Lake for Healthcare Science09:08 Challenges in the Life Science Industry12:18 Positioning Betteromics in the Market16:23 The Future of Pharma and Life Science19:40 Technological Advances Enabling Betteromics22:52 The Success Rate of Drugs and Therapies28:14 The Opacity of the Life Science Industry31:17 The Rise of Specialty Pharma Medicines34:30 Lessons Learned as a Founder37:49 Personal Growth and Privilege

In this episode, venture capitalist David Paul interviews Bill Horne, a 10-time CEO, the founder of 88 Keys, and an expert in turning around struggling companies. They discuss various aspects of being a fixer for early-stage companies and the challenges that come with it. The conversation covers topics such as the value destruction when founders leave, common mistakes founders make, the importance of operational planning, and managing the board. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysBeing a fixer for early-stage companies requires reconciling the challenges of working with fragile employees and upset boards.Founders leaving a company can lead to significant value destruction, both from a cultural and industry knowledge perspective.Common mistakes made by founders include a lack of operational planning and attention to detail.Effective operational planning requires a high level of granularity and a clear execution strategy.Chapters01:59 Becoming an Adult in the Room03:18 Becoming the Fixer05:44 Value Destruction When Founders Leave07:26 Common Mistakes Founders Make09:54 The Importance of Operational Planning10:43 Detail and Execution in Operational Planning12:33 Time Framing and Check-Ins14:50 Managing the Board

In this episode, David Paul interviews Matt Munson, a CEO whisperer and performance coach for startup founders at Sanity Labs. Matt shares his experience working with Jerry Colonna, a renowned coach, and the impact it had on his own coaching approach. They discuss the importance of recognizing inner complacency and the deeper challenges faced by entrepreneurs. Matt also explores the concept of founder burnout and the need for a shift in mindset to prioritize well-being. They delve into the role of attachment to identity and business success, as well as strategies for maximizing creativity and vision. The episode concludes with advice for investors on supporting founders in a more communicative and supportive manner. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysCoaching should involve more than just providing frameworks and advice; it should involve a deep understanding of the founder's challenges and a willingness to climb into those challenges with them.Founder burnout often stems from a feeling of misalignment, disconnection, and inefficacy. It is important to address these deeper issues rather than just focusing on external factors.Attachment to identity and business success can hinder a founder's ability to lead effectively. It is important to shift the focus from personal validation to the collective vision and purpose of the company.Slowing down and creating space for innovation is crucial for founders. Prioritizing activities that foster spacious thinking, long-term visioning, and deep connection with the team can lead to more effective leadership.Investors should approach founders with curiosity and support rather than solely focusing on performance metrics. Creating an open and supportive environment can lead to better outcomes for both the founder and the investor.Chapters01:00 Working with Jerry Colonna03:02 Jerry Colonna's Questions04:36 Searching for Coaching07:48 Recognizing Inner Complacency08:58 Founder Burnout11:20 Attachment to Identity and Business14:39 Finding Clarity and Vision20:45 Maximizing Creativity26:05 Slowing Down for Innovation29:29 Supporting Founders as an Investor

In this episode, David Paul interviews Gregg Scoresby, the founder and CEO of CampusLogic and PHX Ventures about building a thriving startup ecosystem in Arizona. They discuss the challenges and opportunities of attracting institutional seed stage capital, the importance of community vibrancy in building a top software city, and the role of AI in the future of software companies. Greg shares his insights on identifying founders with ambition and the ability to confront reality and emphasizes the need for founders to be connected to the math of their business. He also provides advice for founders and investors on building strong relationships and managing boards. You can watch/listen to the podcast on YouTube, Spotify, and Apple.TakeawaysBuilding a thriving startup ecosystem requires attracting institutional seed-stage capital and fostering community vibrancy.Founders with ambition and the ability to confront reality are more likely to succeed in building sustainable growth companies.AI is transforming the software industry, but the true value lies in applying AI to specific verticals and leveraging domain expertise.Investors should look for founders who are connected to the math of their business and have a deep understanding of their market and customers.Building strong relationships and managing boards effectively are crucial for both founders and investors.Chapters04:16 Institutional Seed Stage Capital in Arizona05:32 Increase in Capital in Arizona07:33 Collaboration in the Market09:22 Capital Flowing into Early Stage Companies10:52 Building Phoenix as a Top Software City12:15 Community Development and Attracting SaaS Companies14:40 Transition from Founder Operator to VC Investor15:39 Being a Minority Shareholder18:01 Providing Feedback to Founders19:31 Founder's Ambition and Confronting Reality22:21 Managing the Board and Asking Good Questions23:49 Building Relationships and Giving Feedback26:13 Identifying Founders Who Can Carry a Company to Success30:37 The Impact of AI on Software Companies33:48 Founder Characteristics of Successful Companies37:08 Thoughts on the Future of AI

David Paul, venture capitalist and host of The Capital Stack Podcast is joined by Alan Roga, seasoned medical professional turned entrepreneur and founder of TruLite Health. Telehealth and telemedicine seem commonplace today, although it was not always that way. Listen to the interesting story of how it developed into what it is today and Alan's view on the current industry. Alan provides deep insight into how the development of telehealth led to the development and sparking of health equity, providing care to individuals from all walks of life. You can watch/listen to the podcast on YouTube, Spotify, and Apple.Key Points -2:35 - How Alan got to TruLite12:20 - What advice Alan would give to early entrepreneurs in the telemedicine space16:22 - Alan's thoughts on this sector now and his projections22:14 - How TruLite combats clinical bias26:56 - How clinical bias data is viewed and acted upon29:50 - The state of the early health equity market34:40 - How ROI can be captured in Health health equity

On this episode of The Capital Stack Podcast, venture capitalist David Paul is joined by lifelong space executive and CEO of Phantom Space, Jim Cantrell, to talk about the inner workings of the innovation happening in space exploration. Jim and David discuss the history of the space industry, why startups are outperforming primes and projections for the future of aerospace and defense supply chain. Follow along on this incredible episode where the inner workings of all innovation that goes into rockets and satellites are unraveled and explained in extraordinary detail. You can watch/listen to the podcast on YouTube, Spotify, and Apple.Key Points(2:19) - The history of the space industry, and how it arrived at where it is today(7:30) - Jim's view on the space industry going forward(9:52) - How innovation within the space industry often ties in with the defense industry(12:46) - Where, and why the innovation to explore space began(16:49) - Startups vs. primes in the aerospace and defense sector(21:11) - Jim's view on what milestones an aerospace and defense company would need to achieve in order to scale(24:25) - An overview of the aerospace and defense supply chain, and what can be done to improve it in the future(27:35) - Jim's projections on machining automation

David Paul, venture capitalist and host of The Capital Stack Podcast is joined by Austin Poole - a partner at BIP Ventures focusing on healthcare. BIP Ventures is an Atlanta-based venture firm with various focuses, with hundreds of millions of dollars under management in credit and equity. David and Austin discuss the current state of the healthcare market, post-acute care in the market, and the software and technology that go into and scale healthcare. Listen to Austin's unexpected path to BIP Ventures, how he chooses investments with his team, and what he sees for the future of healthcare technology and software development. You can watch/listen to the podcast on YouTube, Spotify, or Apple.Key Points -(2:55) - Austin's journey in finance and how he became involved at BIP(6:05) - How operations and investments are devised and looked after at BIP(12:28) - What is viewed as a real investment in healthcare(13:35) - Austin's view on the healthcare market as it is today(16:10) - Discussion on why the post-acute care market is struggling(22:20) - The possibility of if any single company can revolutionize the healthcare market(25:20) - Tech-enabled services vs SaaS in healthcare, how they are scaled, and what makes them scaleable

On this episode of The Capital Stack Podcast, venture capitalist David Paul speaks with his mentor, Jim Armstrong, founder of JDA Software (now Blue Yonder) - a global supply chain solution for big box retailers. This inspiring episode is filled with invaluable information and highlights how opportunity is everywhere, and when acted upon with the right mindset, success can flourish. Listen to Jim speak about his irregular journey to success, what lessons he would tell his younger self, and how Jim chooses to spend his time today. You can watch/listen to the podcast on YouTube, Spotify, or Apple.What You Will Discover -(1:47) - Jim's story of how he got into software(7:10) - How JDA Software ended up being headquartered in The United States, and a rundown of the company's life cycle(8:34) - Jim's viewpoint on taking JDA Software Public(12:18) - How JDA Software operated pre-SaaS(13:58) - Jim's motivation for starting his own business(15:36) - How Jim chose to help and inspire strangers and those around him(18:12) - Rancho Feliz, Jim's charitable organization(20:13) - Jim's life now, and what he is excited about(24:40) - What Jim would tell his earlier self

David Paul is joined by fellow venture capitalist Mike Becker, the managing partner of Vocap Partners, a Series-A firm based out of Atlanta and Florida, on this episode of The Capital Stack Podcast. David and Mike discuss how to pick and choose ideal companies for deals, the importance of VC / founder balance in value add, and what is new and exciting in venture capital today!What You Will Discover -(5:00) - Mike's view on value creation as a venture capitalist(9:10) - The story of Vocap and Mike's experience as a venture capitalist(16:00) - When product market fit has been validated for a company(21:34) - East Coast versus West Coast investing discussion(24:50) - What an average win/loss ratio is throughout an individual's time as a venture capitalist(28:13) - What is new and exciting in the world of venture capitalConnect with Mike -https://www.linkedin.com/in/mike-becker

On this episode of The Capital Stack Podcast, venture capitalist David Paul speaks with his mentor, Todd P. Belfer of Brookstone Venture Capital - an Arizona-based venture capital firm. Todd speaks about his irregular and inspiring path to success, the importance of consistency and discipline, and his learnings as an investor and operator. David and Todd discuss their wins and losses from working together, and their valuable insight on the startup market today. You can watch and listen to the podcast on on YouTube, Spotify, and Apple. What You Will Discover - (2:38) - Todd's story of his first companies and his road to becoming an investor (7:35) - How Todd learned and gained the courage to acquire capital early in his career (15:00) - Fund structure vs. syndicate structure in venture capital (17:48) - Todd's wins at Canal Partners (28:35) - How and when Brookstone Venture Capital was founded, and info on Brookstone (31:05) - How Todd works and invests now Connect with Todd - https://www.linkedin.com/in/todd-p-belfer-26586326/

This week I had the opportunity to invest with friend and serial entrepreneur Hamid Shojaee. Hamid has been the founder of several companies and products including Axosoft, NetTime Solutions, and Get Krackin. You can watch/listen to the podcast on YouTube, Spotify, and Apple. On this episode of the Capital Stack Podcast hosted by venture capitalist David Paul - Hamid Shoajee, serial entrepreneur, author, investor, and founder of Savvy Trader, an Arizona-based investment portfolio-sharing software company, gets on the microphone. David and Hamid engage in conversation about how to get started in investing, how to balance and maintain your investments, learnings from investing mistakes, and projections on the economy's future. Hamid discusses his own valuable investing tactics and investments.What You Will Discover(2:12) - Hamid's story with his previous companies(4:20) - Info on Hamid's company, Savvy Trader(8:18) - What is trading vs. investing?(12:10) - Learnings and the importance of patience in investing(17:48) - Previous and current stock market trends(30:41) - Bias in trading(36:42) - Trends in the aerospace market(40:25) - View on the US Healthcare Landscape(52:43) - Outlook and projections on the economy

On this episode of the Capital Stack Podcast hosted by venture capitalist David Paul - Will Shaw, the pro-football player turned tech founder of Better Agency, an Arizona-based insurance management software company, gets on the microphone. David and Will discuss the current state of the startup market, the solution to high churn, why insurance rates are so high, and the back end of the insurance space. Will opens up about what habits he practices to stay successful, the importance of showing up, and what is most shocking about becoming a founder. Listen to this episode on all your platforms including YouTube, Spotify, or Apple!What You Will Discover - (4:50) - The different types of entrepreneurs(11:40) - The thesis for Will's company, Better Agency(12:00) - Why churn is created, and how it is reduced(16:00) - The state of the insurance market, why rates are so high, and projections for the future(22:13) - The transition of football into the business world(30:18) - Will's habits that keep him focused and successful(36:06) - The most humbling moment for Will as a founder and person(44:29) - Memorable quote - “Things are never as bad or ever as good as you think they are”Connect with Will - LinkedIn: https://www.linkedin.com/in/willshaw8/

Despite his reluctance, I got David to speak to me about the overly complex ecosystem of the adtech business today. David is an incredible entrepreneur who has helped disable the giants that have monopolized the digital ad business for decades. Hint- it rhymes with Schmoogle. Have you ever wondered about the backend workings of website monetization and ad-tech? The ad-tech industry is a fast-moving industry that's allowing publishers around the world to invest in their work and have world-class technology dealing with the inefficiencies in the industry. In this episode of The Capital Stack, we have David Freedman, the founder of Freestar. Freestar is a managed service that simplifies the challenges of website monetization to help publishers and e-commerce sites reach their true revenue potential. David is a 15-year veteran in the digital advertising and publishing space, with his entrepreneurial career beginning when he founded a college calendar company, Tempe12.Listen in to learn how the advertising landscape has changed for publishers after the introduction of header bidding in ad auctions. You will also learn the importance of having a partner to help you as a founder with systems and processes to improve culture, scalability, and growth.What You Will Discover:· [01:05] David's entrepreneurial journey – how his college venture launched Freestar to help publishers with monetization.· [03:15] He explains why he pivoted from web publishing and traffic to the monetization side of things.· [07:59] How the advertising landscape has changed for publishers after the introduction of header bidding in ad auctions.· [11:21] Understanding how Prebid open source technology has changed header bidding ad actions.· [13:58] The monetization solution Freestar offers publishers to lessen ad-tech industry inefficiencies.· [17:04] The importance of being open to testing things in the ad-tech industry as things change.· [18:54] David shares his personal views on privacy protection and why people's concerns should be addressed.· [21:36] The threats and benefits of generative AI on content creation as it pertains to publishing and advertising.· [23:49] How good user/customer experience on a website leads to increased monetization chances.· [26:03] He describes the experience and learning curve of getting a partner to help with systems and processes.· [29:25] David shares a piece of business advice he received and how it has helped him as an entrepreneur.Memorable Quote:· “When you hit a certain amount of scalable employee and or revenue-wise, there's a different level of systems and processes that need to be put into place.”- David Freedman [26:28]Connect with Will:LinkedIn: https://www.linkedin.com/in/freedmandavid/

It is a great pleasure to introduce our next podcast guest - Will Caldwell founder and CEO of SnapNHD - a San Diego based real-estate data company. I had the chance to invest in Wills company very early and if I did it would of resulted in a 10x outcome. Oops. At least I can laugh at it and Will and friend. You can listen to the podcast on all your platforms including YouTube, Spotify, or Apple.Does your startup have what it takes to identify strong business cases, have ready-to-go customers on the products, and have high margins? In this episode of The Capital Stack, we have Will Caldwell, Co-founder and CEO of SnapNHD, a leading provider of natural hazard disclosure reports and real-time flood determination certificates. Will saw a business opportunity in a big company dominated industry and scaled SnapNHD from $0-$100k in less than three years. Listen in to learn how to identify opportunities in a market and figure out how to be better and compete head-to-head with existing companies. You will also learn how to bootstrap efficiently to the point of scaling by having financial discipline, cash flow generation, and nailing product-market fit. What You Will Discover:• [03:13] How SnapNHD is identifying strong business cases, having ready-to-go customers on their products, and having high margins. • [06:14] How Will figured he could compete head-to-head with big data natural hazard report companies. • [09:03] How the cost perspective became their competitive advantage when acquiring customers. • [12:54] The real estate demand over the next ten years and the business opportunities available in the industry.• [17:28] How financial discipline, cash flow generation, and nailing product-market fit enabled SnapNHD to bootstrap efficiently. • [21:35] Will on the guiding principles that allowed him to achieve his success. • [22:33] Some random questions with Will! Memorable Quote:• “In any kind of verticalized software industry, the more you become entrenched in that vertical, the more intrinsic value you create.”- Will [19:55]Connect with Will:• LinkedIn: https://www.linkedin.com/in/caldwellw/

I had the privilege of meeting Liz recently, thanks to a referral from one of the CEOs of their portfolio companies. It's worth noting that Liz is not one for outward marketing. Nonetheless, her unique perspective on the world is awe-inspiring, and I'm excited to share her story and the incredible journey of SHAKTI with you.How does a small team and emerging venture capital fund prioritize supporting and empowering founders? Taking the community approach is a great way to add value to early-stage founders by bringing in mentors and industry titans.In this episode of The Capital Stack, we have Liz Harrow, a Partner at Shakti. She has experience of 10 years at Morgan Stanley in equity research & venture capital and, most recently, as a Vice President leading their startup accelerator program for diverse entrepreneurs.Listen in to learn how limited partners and mentors come together as a titan network to offer value to founders. You will also learn why good storytelling is a powerful skill to have as a founder to guarantee the success of your early-stage startup.What You Will Discover:· [02:21] Liz on how her fund empowers founders from the beginning of their journey, hence the name Shakti.· [03:44] She shares her 10-year background in Wall Street and how she got into venture capital.· [05:39] How they prioritize supporting founders offering value as a small team and an emerging fund.· [07:16] The community approach that has proven you don't have to be on a board to add value to companies.· [09:55] The value Shakti's titan network brings to the founders' journey with their industry expertise.· [13:11] What it takes to become a trillion-dollar coach who's different from the rest.· [15:54] Shakti's thematic investing strategy – looking for companies reimagining the world's largest habits with new tech infrastructure.· [17:50] The components Shakti considers when thinking about company picking.· [19:44] The process of finding the right founder, even at the risk of making a mistake.· [25:16] Liz shares a success story of a company that's reimagining a habit completely driven by change.· [28:04] The role of luck in success and the importance of having an investment process for a solid venture franchise.· [29:30] Some random questions with Liz!Memorable Quote:· “You have to be the number one storyteller for your company whether that's to get capital in the door, to hire the initial team, or to convince people to buy your product/service; we rarely see incredible founders who aren't also good storytellers.”- Liz [21:35]Connect with Liz:· Website: https://shaktivc.com/· LinkedIn: https://www.linkedin.com/in/elizabeth-harrow/Book Recommendations:· Born a Crime by Trevor...

When searching for determined founders, it's crucial to recognize individuals with a chip on their shoulders. Jessica Chang undoubtedly possesses this quality. She's fed up with witnessing mothers, who are deprived of opportunities, forced out of the workforce due to exorbitant childcare expenses. Discover how Jessica and the Upwards team are revolutionizing traditional childcare, catering to those who need it most and breaking the cycle of inequality. You can watch/listen to this podcast on YouTube, Apple, or Spotify.Are you aware of the struggle parents and childcare providers are going through? How do we make care accessible for all and also support childcare providers to stay in the industry?In this episode of The Capital Stack, we have Jessica Chang , CEO & Co-Founder at Upwards (formerly WeeCare). Upwards is a platform helping families, caregivers, employers, and local government all work together to make childcare accessible to all. Before Upwards, Jessica worked in finance and marketplace operations roles and also owned and operated preschools.Listen in to learn about Upwards's three-step process for government employers, which caters to placement, data measurement, and affordability. You will also learn how to strategically approach investors and market to individual target markets as a B2B early-stage startup.What You Will Discover:· [01:57] Jessica's entrepreneurial background and how her experience with childcare inspired her to start Upwards.· [05:44] How Upwards pivoted to ensure parents, care providers, and employers all benefit from affordable childcare.· [10:47] Upwards's three-step process for government employers – placement, data measurement, and affordability.· [15:39] She explains how they strategically approached investors and built the company from the start.· [18:30] We discuss the globalization of tech, politics, and what the tech community can learn from it.· [23:17] How they approached the marketplace by focusing on acquiring and growing supply.· [24:27] How they found success approaching care providers individually instead of general marketing.· [26:14] Some random questions with Jessica!Memorable Quote:· “It becomes a national strain on the economy when we don't have a childcare industry that works.”- Jessica Chan [10:04]Connect with Jessica:Website: https://www.upwards.comLinkedIn:https://www.linkedin.com/in/jessica-chang-1010402/

I recently had the pleasure of meeting Mat, and I must say, he is absolutely delightful, despite his charming accent. As is often the case with founders, he found it challenging to remain idle after the successful sale of Cloudability for a staggering $1.8B, backed by Founders Fund and Foundry.What if you had a robot chief of staff to help you remember other people's problems? Think of a human-compatible AI product built and designed to enhance your productivity which will, in turn, make you a better executive.In this episode of The Capital Stack, we have Mat Ellis, the co-founder & CEO at Sixty AI and the former founder and CEO at Cloudability. He has previously held executive positions with four startups and key technology roles at Frito-Lay, Pepsi-Cola, and Goldman Sachs. Sixty AI is an AI-powered Personal Relationship Management software optimized for focus and flow, eliminating mundane and time-sucking digital tasks to focus on what matters most.Listen in to learn how to become more productive and liberated from tedious tasks with an AI system that helps you remember the important things. You will also learn how to build a great and viral product that makes a difference and how to create demand for it.What You Will Discover:· [04:31] Mat explains where he gets his humility from and the need to learn constantly.· [06:31] The importance of having problem-solving skills to run an early-stage startup.· [09:50] How he shifted his mindset to avoid compulsiveness when running an early-stage startup. · [13:53] He describes the end of Cloudability and the beginning of Sixty AI – the journey it's been.· [17:52] How Sixty AI is built and designed to be human-compatible for more productivity.· [21:16] The power of a digital system that helps you remember people's problems to enhance productivity.· [31:53] Mat on the business model helping Sixty AI move from zero to one.· [34:26] How to create a great viral product that makes a difference and how to create demand for it.· [36:20] How to become a beta customer and part of the Sixty AI movement.· [37:11] Some random questions with Mat!Memorable Quote:· “The wedge is a great product that makes a difference in your life instantly but also one that's well-known, highly spoken of, and viral.”- Mat Ellis [35:10]Connect with Mat:· Website: https://sixty.app/· LinkedIn: https://www.linkedin.com/in/matellis/

Jen is perhaps one of my favorite follows on twitter on Linkedin. She is relentlessly honest about why startup founders fail to find product market fit and self-destruct. This is a must listen for any early stage founder. You can watch/listen to the podcast on YouTube, Apple, or Spotify.Do you know it's almost impossible for a startup to succeed without the founder at the tip of the spear? For an early-stage startup to move from 0-1 and avoid premature scaling, it needs to be led by a visionary. Leading a startup as the founder is a competitive advantage that you can leverage.In this episode of The Capital Stack, we have Jen Abbel, Co-Founder and partner at JJELLYFISH. She's deeply passionate about helping startups in the 0-1 journey. JJELLYFISH has advised 200+ B2B/enterprise startups with customer discovery, define their initial go-to-market, and supported Fortune 500 companies seeking to validate new commercial ventures and prove traction.Listen in to learn the importance of understanding the problem better than the market and how to build the product for early-stage success. You will also learn why, as a founder, you should give yourself at least two years of runway and time to truly understand the problem and your early adopters.What You Will Discover:· [01:45] Jen shares her track record and how she developed a passion for early-stage sales.· [06:23] The importance of having a visionary to help an early-stage startup from zero to one.· [09:47] How to succeed from zero to one stage by understanding the problem better than the market and having a clear vision.· [13:48] How Jjellyfish supports founders in validating their vision to their ideal clients at the selling stage.· [16:34] How Jjellyfish helps founders understand the problem and when they've earned their right to sell.· [18:30] The framework that allows the founder to pick up false positives and stay focused on the real pain points.· [23:16] The importance of giving yourself at least two years of runway and time to truly understand the problem and early adopters.· [26:25] The power of invalidating yourself and constantly learning as a founder to find a product market fit.· [29:49] Understanding how to justify the return on investment against the value you're offering.· [33:58] The important pieces of founder manage sales stage and why it's so critical.· [38:21] Jen describes Jjellyfish's newest product – a lightweight version of their extensive discovery program.· [43:18] Some random questions with Jen!Memorable Quote:· “Having an idea and having a product without knowing the specific problem or whom you're building it for is the number one reason first-time founders fail.”- Jen Abbel [07:03]Connect with James:· Website: https://www.jjellyfish.com/· LinkedIn: https://www.linkedin.com/in/earlystagesales/

Going from founder-led-sales to a sales team is a bi#Tch. One of the first things a founder needs to think about is how to connect data and systems together to effectively understand what is working and what's not. Join me in discussing revenue operations with the grand master himself - Anthony Enrico- of LeanScale. You can watch/listen to this podcast on YouTube, Apple, or Spotify.How do you handle revenue operations in your business, and when did you start doing it? Revenue ops is a better management system for aligning go-to-market operations to boost revenue growth. Revenue op is best started before your first sale, if possible.In this episode of The Capital Stack, we have Anthony Enrico talk about revenue operations and the importance of standardizing processes in the early stages of an organization. Anthony is the Founder & CEO of LeanScale, a startup providing access to exceptional RevOps services to any company scaling their business. He was also the VP of Revops responsible for overall GTM strategy and operations.Listen in to learn the importance of having a process for clear communication and expectations amongst teams. You will also learn about the value of starting your Rev op journey early, even without sophistication and continuing to evolve.What You Will Discover:· [03:52] Anthony shares his background and how LeanScale was born to provide revenue ops services.· [08:02] The importance of having a foundation of a go-to-market operations function of the business before your first sale.· [09:23] Why you should start standardizing your processes when you start delegating.· [11:09] The importance of having a process for clear communication and expectations amongst teams.· [14:51] What the hiring steps look like when hiring for an in-house revenue op as you scale your business.· [17:33] The importance of starting your rev op journey early, even without sophistication, and continuing to evolve.· [19:47] The expected change in sales and marketing tech, plus the value of organic marketing in keeping companies intentional.· [23:34] Anthony on how he's enjoying his journey from an operator to a founder.· [25:20] He describes the emotional ties that come with being a founder and how it affects him personally.· [28:51] Anthony answers random questions!Memorable Quote:· “The second you have more than one person doing sales, that's a good time to start standardizing your process.”- Anthony [09:29]Connect with Anthony:· Website: https://www.leanscale.team/· LinkedIn: https://www.linkedin.com/in/anthonyenrico/· Book Mentioned: Thinking in Bets by Annie Duke

How do you create a verticalized data company that provides accurate and real-time information without completely changing the existing user experience infrastructure?In this episode of The Capital Stack, we have Jonny Simkin, the Co-founder and CEO of Swiftly, talk about the process of building a govtech data platform. Swiftly is a big data platform that helps public transit agencies improve operational performance, service reliability, and real-time passenger information.Listen in to learn about the value of verticalized data companies and the importance of them developing sticky long-term solutions. You will also learn the importance of using existing infrastructure and data to improve user experience without completely changing things when creating a data platform.What You Will Discover:· [00:49] How Jonny got interested in public transit after discovering the technology opportunities in the transport industry.· [02:53] When the transportation technology revolution happened and how Swiftly rethought the entire data flow for riders.· [09:29] How they use existing infrastructure and data to improve riders' experience without completely changing things.· [13:23] Why Swiftly pivoted to a data company to make it easy and scalable for app developers to access accurate information.· [15:34] The value delivered by verticalized data companies and the importance of developing sticky long-term solutions.· [19:19] The importance of investing in producing the most accurate and complete information to benefit everything downstream.· [20:48] Why changing people's behavior is harder than naturalizing data to make it meaningful. · [22:36] How they overcame the fear of messing up to navigate the public sector procurement.· [24:44] Random questions with Jonny!Memorable Quote:· “If the data you're producing is not accurate and does not add a substantial amount of value, it does not matter how good your application layer is.”- Jonny [19:28]Connect with Jonny:· Website: https://www.goswift.ly/· LinkedIn: https://www.linkedin.com/in/jonathansimkin/

I am excited for this week's special episode on the Capital Stack Podcast, where I will be interviewing my dear friend James McManus, the visionary behind Family First. Family First is a renowned treatment center in Florida, dedicated to helping teenagers facing behavioral health and substance abuse disorders. James' remarkable leadership has led to substantial growth, as evidenced by the recent majority recap with the esteemed HEP Fund and NaviMed Capital. Join us as we delve into James' inspiring journey and explore the impactful work of Family First. How does an entrepreneur bootstrap a mental and behavioral health business and drive it to success? The entrepreneurship journey, especially in a less common industry, is about taking the initiative and networking to find opportunities to help grow the business.In this episode of The Capital Stack, we have James McManus, the founder and CEO of Family First Adolescent Services. He has devoted his career to understanding and treating the unique circumstances of young people grappling with drug and alcohol addiction, mood disorders, and post-traumatic stress disorder.Listen in to learn why James pursued the path of adolescent mental and behavioral health and addiction and established an intensive outpatient service for families. You will also learn the importance of understanding how to do every job in your company as an entrepreneur to ensure you can step into any position if anything happens.What You Will Discover:· [01:32] James on how his experience with adolescent mental health and working with teens led to Family First.· [04:17] Why he established an intensive outpatient service for adolescents, plus the market opportunity he saw.· [08:08] The constantly evolving nature of the adolescent behavioral health industry.· [13:00] The importance of focusing on revenue and diversifying it while managing risk as a founder.· [15:20] The importance of having something to stabilize you till you can stand on your feet as a founder.· [18:38] Why you must take the initiative to increase your bottom line in the early stages of your business.· [24:45] James explains why he did a recap and the rigorous process it turned out to be.· [29:44] The importance of understanding every job in your company as an entrepreneur to avoid surprises.· [31:02] Random questions with James!Memorable Quote:· “There's no one out there that's going to come and magically be able to increase your bottom line; you have to go and do that if that's your skillset.”- [20:57]Connect with James:· Website: https://familyfirstas.com/· LinkedIn: https://www.linkedin.com/in/james-mcmanus-77415ba/

Kyle and I have known each other for quite some time, having served together on the board at Allbound. We once attempted to recruit him as CEO, but he politely declined. Perhaps he felt it wasn't the right moment, or maybe it was because the company was a complete disaster. However, it appears that he has now taken that leap and is currently serving as the chief executive officer at SmartAction- a conversational AI platform for call centers. This is a must listen. You can watch/listen to the pod on YouTube, Apple, or Spotify.What does it take to take up and succeed in a CEO role? What skills are needed to let go of your fears and bet on your capabilities to lead an entire organization?In this episode of The Capital Stack, Kyle Johnson talks about his transition from his 25+ years career in go-to-market to a CEO role. Kyle is a technology co. board member, investor, and chief executive officer at SmartAction, an artificial intelligence-based voice self-service provider.Listen in to learn how past experience in leadership and team trust allowed Kyle to transition from a CRO to a CEO. You will also learn about the power of a genuine relationship with your team as a leader, delegating and investing in developing your team's skills.What You Will Discover:· [00:57] How Kyle's career journey and skills development allowed him to become a CEO.· [03:34] The doubts he experienced fitting into the CEO role and moving to a new company.· [05:48] The impact he desired to make in his career and drive for company culture by taking on the CEO role.· [07:12] He explains the tech services SmartAction offers to end-users as a SaaS platform company.· [13:38] How past experience in leadership and team trust allowed him to transition from CRO to CEO.· [17:03] The importance of instilling genuine relationship notions in your team and customers as a leader.· [19:32] Learning how to delegate ad trust your team as a leader to have time to prioritize yourself.· [21:08] How to evaluate your team for strengths and weaknesses to understand where you need to develop more.· [24:12] Random questions with Kyle – his morning routine, diet, and book recommendations.Memorable Quote:· “Building genuine relationships with people is one of the most important things you can do as a leader.”- Kyle [14:32]Connect with Brian:· Website: https://smartaction.ai/· LinkedIn: https://www.linkedin.com/in/kylegjohnson/Books Mentioned:· Why Employees Don't Do What They're Supposed to by Ferdinand Fournies · Coaching for Improved Work Performance by Ferdinand F. Fournies

I am speaking to the founders of IntelyCare this week on Capital Stack- one of the largest most funded ($171M) software companies charged to solved the nursing shortage crises in the United States. This is an incredibly informative episode on the current and upcoming emergency in the healthcare workforce. Did you know fifty percent of nurses leave the bedside within the first two years of practice? There are fundamental issues why this happens, including the profession's unfair reimbursement models. How, then, do we solve the nursing shortage? In this episode of The Capital Stack, we have Rebecca Love and David Coppins discuss the nursing shortage, why nursing as a profession is failing, and the fundamental issues that need to be looked at. David is the Co-Founder & CEO, and Rebecca is the Chief Clinical Officer at IntelyCare, a healthcare workforce management platform with an AI-based float pool management and per-diem matching technology. Listen in to learn the importance of investing in nursing to not only retain nurses in the profession but also to attract those who left. You will also learn how the government can change the reimbursement models, and the market can become nurse friendly to tackle the nursing shortage significantly. What You Will Discover: • [01:24] Understanding the contributing factors to the nursing shortage facing the country. • [04:01] They explain how they're changing the working environment for nurses to enjoy their profession. • [10:50] The fundamental conversation that needs to happen to understand why nursing is failing. • [18:07] The unfair reimbursement model that undermines nursing and why it needs to end. • [27:01] The questions hospital boards need to ask to investigate the system and improve things for nurses and patients. • [37:00] How staffing organizations created value by investing in models that worked for nursing during the pandemic. • [43:58] How to connect with IntelyCare to understand how they're tackling the markets. Memorable Quote: • “In 2020, it was the only meaningful increase in nursing salaries in the history of this country when nursing salaries went up by 3.26%.”- Rebecca Love [41:07] Connect with Rebecca & David: • Website: https://www.intelycare.com/ • Rebecca's LinkedIn: https://www.linkedin.com/in/rebeccalovenursing/

This week, I have the pleasure of interviewing Brian Portnoy, a renowned expert in behavioral finance and author of bestselling books like "Geometry of Wealth" and "The Investors Paradox." We delve into the fascinating idea that the game of investing has been solved, with the new frontier being the pursuit of funded contentment instead of chasing alpha. Tune in to the podcast available on YouTube, Apple, or Spotify to catch the insightful conversation.Do you understand the psychology of money? What does true wealth mean to you? Getting a healthy money mindset is difficult because our brains aren't wired that way, but with the right help, you can work to achieve it.In this episode of The Capital Stack, we have Brian Portnoy, a leading expert on the psychology of money, best-selling author, and has over 20 years of experience as an investor and educator in the hedge fund and mutual fund industries. He is also the founder of Shaping Wealth, a learning technology company focused on promoting financial well-being.Listen in to learn how Brian and his team use the geometry of money to teach money managers soft skills so they can have a better relationship with their clients. You will also learn about the four sources of contentment mental model and how financial advisors use it to frame better questions about what's important to people.What You Will Discover:· [02:24] Brian on how he accidentally fell into a career in the psychology of money.· [05:15] The reasons why money triggers people and makes it harder for society to talk about it.· [10:53] How his idea of wealth as a mindset versus rich as a number led to an opportunity to train money managers.· [12:51] The soft skills they teach financial advisors to enable them to have better conversations with their clients.· [16:48] He explains the relationship between wealth managers and their clients.· [20:04] The business challenge between delivering the type of advice people want and figuring out scale.· [22:30] Why he's excited about building the leading platform for human-centric financial advice and experimenting with different technologies.· [26:10] The four sources of contentment mental model – connection, control, context, and competence.· [29:00] Random questions with Brian – book recommendations, writing process, and more!Memorable Quote:· “Money is hard because our brains didn't evolve to solve these problems and now, we live in a world of never-ending financial supermarkets, twenty-four-seven financial media, and trying to resist the siren calls dopamine hits that come from the money world.”- Brian [16:20]Connect with Brian:· Website: https://www.shapingwealth.com/· LinkedIn: https://www.linkedin.com/in/brianportnoy/Books Mentioned:· Geometry of Wealth by Brian Portnoy ·

George Wang is an exceptional healthcare investor who is in the know about the burgeoning startups in the healthcare industry. If I have ever have a question about healthcare IT investing George is on my shortlist on who to call. The man knows what he is talking about - this is a must listen if you want to know where the puck is going.There are many old and new opportunities in the healthcare tech space that investors are tapping into to make a difference for all stakeholders. These include digital health, value-based care, and specialty pharma sectors.In this episode of The Capital Stack, we have George Wang, an investor at AV8 Ventures, a firm backing early-stage start-ups focused on healthcare, enterprise, financial services, and deep-tech.Listen in to learn how necessity and preexisting huddles have brought about recent innovation in the digital health space. You will also learn about specialty pharma software, its exciting advantages, and why it makes sense in healthcare. What You Will Discover:· [01:51] George on how he transitioned from healthcare consulting to venture capital.· [06:44] He describes AV8's thesis-driven strategy and their interest in the digital health, value-based care, and specialty pharma sectors.· [11:00] The three main reasons why he gets allocation with ease.· [15:52] The differences and similarities between healthcare VC froth and VC froth.· [18:17] The recent innovation in the digital health space was brought about by necessity and preexisting huddles.· [22:42] Understanding specialty pharma software, its exciting advantages, and why it makes sense in the healthcare sector.· [27:39] He explains how the sketchy side of healthcare drove ambulatory infusion growth. · [33:44] Random questions with George!Memorable Quote:· “Each healthcare specialty could be its own industry in itself because there are so many nuances and players.”- George [08:22]Connect with Benji:· Website: https://av8.vc/· LinkedIn: https://www.linkedin.com/in/george-wang-65618988/· Book Mentioned: Wuthering Heights by Emily Brontë

I love me some Eva Ho. This remarkable individual embodies greatness. In this week's discussion, we delve into the transformative journey from investor to operating a venture capital firm. She emphasizes the significance of building a strong community, embracing risk, and embracing unwavering conviction.What does it take to build community and relationships in the business of supporting others? Community in the founder industry is about creating opportunities that benefit more people than just those in the tech ecosystem.In this episode of The Capital Stack, we have Eva Ho, a General Partner at Fika Ventures, an LA-based seed fund that invests in founders solving meaningful, systemic problems through data, related AI-enabled technologies, and automation. She is also a serial entrepreneur, founder, and active in the non-profit sector.Listen in to learn how Fika nurtures community and builds trustworthy investor relationships within the industry. You will also learn the importance of building a good LP relationship and taking into considering all fundraising stages of to have a good fund.What You Will Discover:· [01:50] Eva shares her journey with Fika, what they deal with, and how they've expanded.· [04:47] How Fika works to service founders and build a community that benefits others.· [09:23] She explains how Fika builds trustworthy investor relationships within the industry.· [15:42] Some of the lessons she's learned running a venture capital firm, plus how she has evolved.· [20:15] Why she believes repeat founders should show up with something when asking for funding.· [24:03] Why she's involved with a lot of non-profit work to keep herself grounded, coming from the world of high finance.· [28:02] The importance of considering all the fundraising stages to have a good fund. · [33:47] Understanding the challenges of an LP's work and the importance of respecting the position.· [37:48] The deal sourcing, picking, and winning process, plus what makes a good picker.· [40:50] How Fika works as a team to decide on deals by actively agreeing and disagreeing.Memorable Quote:· “Picking is very critical, and most firms are still figuring it out and evolving.”- Eva [44:25]Connect with Benji:· Website: https://fika.vc/· LinkedIn:

This week, I had the pleasure of interviewing Benji Koltai, the co-founder and CEO of Galley. Based in San Diego, Galley is an impressive company that, unfortunately, slipped under my radar. A few years ago, we sold another food service data company, Attribytes, to Syndigo, so missing out on Galley was truly regrettable. In this captivating episode, we delve into the world of vertical SaaS and data. Trust me, you don't want to miss it! Tune in to the podcast on YouTube, Apple, or Spotify for an enriching experience.Imagine a software committed to efficiently transforming kitchens and the work of everyone working in kitchens. A better food industry means better quality of life not only for workers but also for consumers.In this episode of The Capital Stack, we have Benji Koltai, Co-Founder and CEO at Galley Solutions and former software engineer bringing change to the foodservice industry. Galley Solutions is a unique culinary operating system focused on transforming how food professionals work, improving their decision-making, and driving efficiency in the global food system.Listen in to learn about the benefits of a bottoms-up approach to forecasting, inventory management, and food lifecycle in commercial kitchens as opposed to the traditional tops down approaches. You will also learn how to properly adjust to the changing investor market to stay alive and keep growing the business as a leader. What You Will Discover:· [02:09] Benji shares his origin story and journey to building a unique culinary operating system.· [09:06] The benefits of a bottoms-up approach in commercial kitchens as opposed to the previously tops down approaches.· [12:23] He shares Galley's ideal clients, plus how they make their ERP-like system simpler for their clients.· [15:33] How they handle data to support the user better and avoid inconsistencies and errors.· [18:44] How experience and a solid customer base have enabled them to build a rich and robust product.· [21:33] How they're focusing on food service companies where the demand for their product is.· [24:18] The changes happening in the food service industry and where Galley focuses.· [27:48] The importance of digitizing food service companies to enable consumer transparency.· [28:36] How they adjusted to the changing investor market to stay alive and keep growing the business.· [30:20] How to let go of your ego and reframe the mind to hold your business separate from yourself.· [32:55] Benji's book recommendations and some random questions!Memorable Quote:· “As the population grows, capacity grows, and the quality increases, we're going to rely more and more on food service companies to feed us, and we're also going to demand that transparency that we were getting by making our own foods from those food service companies.”- Benji [27:50]Connect with Benji:· Website: https://www.galleysolutions.com/· LinkedIn: https://www.linkedin.com/in/benjikoltai/Book Recommendations:· So Good They Can't Ignore You by Cal...

Hosting this podcast was quite challenging for me, as I consider myself a novice when it comes to science. Vivas, a leading authority in battery technology and sustainability in Silicon Valley, has an impressive track record. Having raised over $20M and being incubated out of Chamath Palihapitya's family office, Social Capital, his expertise is unquestionable. We dive deep into the emergence of battery technology, de-globalization, and driving the cost of energy down to zero. You can watch and listen to the podcast on YouTube, Apple, and Spotify.What are the ins and outs of investing in clean energy technology and hard tech products? The hard tech products industry is a high-requirement industry that takes time to scale, unlike the soft tech industry, and requires committed and patient investors.In this episode of The Capital Stack, we have Vivas Kumar, the CEO and Founder of Mitra Chem. He's a business leader and engineer with significant global executive and commercial experience across the electric vehicle and lithium-ion battery industries. Mitra Chem is innovating and commercializing iron-based cathode materials to enable mass-market electrification in transportation and energy storage.Listen in to learn about the role of the government in the success of platform technology, plus the economic benefits of cheap energy. You will also learn about the difficulty of getting hard tech products out in the world at scale and becoming a category-defining company.What You Will Discover:· [01:18] Vivas explains the three things Mitra Chem is doing in the battery industry.· [03:13] The benefits of iron-rich cathode materials over nickel-rich ones in today's battery market.· [07:04] The role of the government in the success of platform technology, plus the economic benefits of cheap energy.· [10:47] The three products in Mitra Chem's portfolio, plus the qualification process to help them go commercial.· [15:39] Vivas's interest in sustainability technology, plus his “trial and fire” approach to the industry.· [18:44] The difficulty of getting hard tech products out in the world at scale and becoming a category-defining company.· [20:37] He describes the investors who've chosen to invest in Mitra Chem's possibly 10-year journey.· [22:59] Mitra Chem's single-minded focus towards generating cash flow in the next five years.· [24:50] Random questions with Vivas!Memorable Quote:· “Getting hard tech products out in the world at scale in a way that makes you become a category-defining company is a very long process in this industry.”- Vivas [19:11]Connect with Vivas:· Website: https://www.linkedin.com/in/vivaswathkumar/· LinkedIn:https://www.mitrachem.com/

What does it take to build a successful direct-to-customer e-commerce business? To build and scale a business that mostly deals with bulky items online, you must focus on brand visual representation, product design, and a genuine interest in the industry.In this episode of The Capital Stack, we have Nick Arambula, the Co-Founder & CEO at Neighbor and former executive at bedding brand Tuft & Needle. Neighbor is a Phoenix-based outdoor furniture company bringing a unique perspective of sophistication, design, and distinctive customer service to the outdoor furniture category.Listen in to learn how to build and scale a direct-to-consumer business model that captures value with a much leaner team. You will learn about the ups and downs of being a founder and the importance of being intentional to do a good job.What You Will Discover:· [02:20] The three reasons why Nick and his partners started Neighbor and specialized in outdoor furniture.· [07:22] How they're building a reasonably sound business model by capturing value with their products.· [10:23] The strategy that has allowed Neighbor to scale with a much leaner team.· [12:25] He describes their mechanism of bringing customers and generating sales online.· [17:34] The importance of having a physical presence to compete and scale your retail business properly.· [19:04] How they approach product bundling and build a flat-packing strategy for easier shipping. · [24:56] How they raised capital and through the storm of a non-profitable year for retail.· [27:11] Nick compares his role as an executive at Tuft& Needle and as the founder at Neighbor.· [32:35] Why it would be wrong for an investor to underwrite Neighbor as Tuft& Needle.· [35:51] Random questions with Nick!Memorable Quote:· “There are categories in retail where you have to have a physical presence for your business to scale in a way that you can compete with some of the incumbents in the space.”- Nick [17:49]Connect with Nick:· Website: https://www.hineighbor.com/· LinkedIn: https://www.linkedin.com/in/nicholas-arambula-90775726/

What does building an attractive SaaS product and client trust take? Building an all-in-one platform in the vertical SaaS industry as a startup can be challenging and requires crossing the chasm and proving value to the target market to break even.In this episode of The Capital Stack, we have Sebastian Gabor, the Co-founder & CEO of Digitail. Digitail's mission is to give veterinarians the ability to provide smarter, more effective, and personalized pet treatment. Listen in to learn the importance of understanding the key problem you're solving and focusing on it when building a SaaS company. You will also learn what it takes to build a successful veterinary vertical SaaS, plus the future of the veterinary market.What You Will Discover:· [02:15] How Sebastian's frustrating firsthand experience with vet services led him to start Digitail.· [05:35] How Digitail had to cross the chasm and prove its value to the target market to gain trust.· [08:10] The importance of understanding the key problem you're solving and focusing on it when building a SaaS company. · [10:11] The big lessons he learned building a veterinary vertical SaaS while meeting client needs.· [13:10] He explains their simplified pricing and revenue strategy, plus their focus on working with aggregators. · [16:47] The challenges aggregators are having and the two sides of pricing in the veterinary market.· [19:58] How the pet demand is predicted to affect the veterinary market in the future.· [23:40] Sebastian on the investing power of AI in the veterinary market and how they're doing it.· [25:50] Random questions with Sebastian!Memorable Quote:· “Instead of doing twenty things, focus on doing one thing really well and then move to the next.”- Sebastian [25:50]Connect with Sebastian:· LinkedIn: https://www.linkedin.com/in/sebastiangabor/